$STEM Cashflow Statement | Understand Stock

$STEM

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$STEM Overview Financial Statements SEC Filings Executives News Red Flags Capital Raising Ownership Insider Transactions Congressional Trades

Financial Statements

Income Statement Balance Sheet Cashflow Statement

Consolidated statements of cash flows

In millions of USD, except per-share amounts

	FY2025 12 months to Dec 31, 2025	FY2024 12 months to Dec 31, 2024	FY2023 12 months to Dec 31, 2023	FY2022 12 months to Dec 31, 2022	FY2021 12 months to Dec 31, 2021
OPERATING ACTIVITIES
Net income (loss)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization expense
Non-cash interest expense, including interest expenses associated with debt issuance costs
Stock-based compensation
Change in fair value of derivative liability
Non-cash lease expense
Accretion of asset retirement obligations
Impairment of inventory
Impairment of deferred costs with suppliers
Impairment of energy storage systems
Loss on disposal of property and equipment
Impairment of project assets
Issuance of warrants for services
Impairment of right-of-use assets
Impairment of parent company guarantees
Impairment of goodwill
Impairment of deferred services
Impairment of other assets
Write-off of accrued expenses and other liabilities
Net accretion of discount on investments
Income tax benefit from release of valuation allowance
Provision for credit losses on accounts receivable
Net loss on investments
Gain on extinguishment of debt
Other
Changes in operating assets and liabilities:
Accounts receivable
Inventory
Deferred costs with suppliers
Other assets
Right-of-use assets
Contract origination costs, net
Accounts payable and accrued expenses
Project assets
Accounts payable
Accrued expense and other liabilities
Deferred revenue
Operating lease liabilities, net
Other liabilities

Net cash provided by (used in) operating activities
INVESTING ACTIVITIES
Acquisitions, net of cash acquired
Purchase of available-for-sale investments
Proceeds from maturities of available-for-sale investments
Proceeds from sales of available-for-sale investments
Purchase of energy storage systems
Capital expenditures on internally-developed software
Distribution from equity method investment
Purchase of property and equipment
Net cash (used in) provided by investing activities
FINANCING ACTIVITIES
Proceeds from exercise of stock options
Payments for taxes related to net share settlement of stock options
Net contributions from Merger and PIPE financing, net of transaction costs of $58,061
Proceeds from financing obligations
Repayment of financing obligations
Proceeds from issuance of convertible notes, net of issuance costs of $0, $0 and $7,601 for the years ended December 31, 2025, 2024 and 2023, respectively
Repayment of convertible notes
Proceeds from issuance of senior secured notes, net of issuance costs of $5,246, $0 and $0 for the years ended December 31, 2025, 2024 and 2023, respectively
Purchase of capped call options
Proceeds from issuance of notes payable, net of issuance costs of $0, $0 and $0 for the years December 31, 2023, 2022 and 2021, respectively
(Redemption of) investment from non-controlling interests
Repayment of notes payable
Net cash (used in) provided by financing activities
Effect of exchange rate changes on cash, cash equivalents and restricted cash
Net (decrease) increase in cash, cash equivalents and restricted cash
Cash, cash equivalents and restricted cash, beginning of year
Cash, cash equivalents and restricted cash, end of period
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid for interest
Cash paid for income taxes
NON-CASH INVESTING AND FINANCING ACTIVITIES
Change in asset retirement costs and asset retirement obligation
Exchange of warrants for common stock
Conversion of warrants upon Merger
Conversion of convertible notes upon Merger
Conversion of accrued interest into outstanding note payable
Right-of-use asset obtained in exchange for lease liability
Settlement of warrant liability into common stock due to exercise
Settlement of warrant liability into common stock due to redemption
Issuance of common stock warrants
Debt issued in exchange for extinguishment of existing notes
Debt retired in exchange for issuance of new notes
Warrants issued in connection with debt exchange
Stock-based compensation capitalized to internal-use software
Purchase of energy storage systems in accounts payable
Conversion of convertible promissory notes and accrued interest into Series D preferred stock

RECONCILIATION OF CASH, CASH EQUIVALENTS, AND RESTRICTED CASH WITHIN THE CONSOLIDATED BALANCE SHEETS TO THE AMOUNTS SHOWN IN THE STATEMENTS OF CASH FLOWS ABOVE:
Cash and cash equivalents
Restricted cash included in other noncurrent assets

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