STEM, INC.STEMEarnings & Financial Report
StemCells, Inc. is a public biopharmaceutical company headquartered in Newark, California, that is developing purified human neural stem cells (HuCNS-SCs) in the hopes of treating central nervous system disorders and paralysis. StemCells' HuCNS-SCs have the ability to differentiate into the three main types of cells found in the central nervous system: neurons, astrocytes and oligodendrocytes.
STEM Q3 2025 Key Financial Metrics
Revenue
$38.2M
Gross Profit
$13.6M
Operating Profit
$-12.9M
Net Profit
$-23.8M
Gross Margin
35.5%
Operating Margin
-33.6%
Net Margin
-62.2%
YoY Growth
30.5%
EPS
$-2.84
Financial Flow
STEM, INC. Q3 2025 Financial Summary
STEM, INC. reported revenue of $38.2M for Q3 2025, with a net profit of $-23.8M (-62.2% margin). Cost of goods sold was $24.7M, operating expenses totaled $26.4M.
Key Financial Metrics
| Total Revenue | $38.2M |
|---|---|
| Net Profit | $-23.8M |
| Gross Margin | 35.5% |
| Operating Margin | -33.6% |
| Report Period | Q3 2025 |
STEM, INC. Annual Revenue by Year
STEM, INC. annual revenue history includes year-by-year totals (for example, 2024 revenue was $144.6M).
| Year | Annual Revenue |
|---|---|
| 2024 | $144.6M |
| 2023 | $461.5M |
| 2022 | $363.0M |
Income Statement
| Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $167.4M | $25.5M | $34.0M | $29.3M | $55.8M | $32.5M | $38.4M | $38.2M |
| YoY Growth | 7.7% | -62.2% | -63.4% | -78.1% | -66.7% | 27.7% | 12.9% | 30.5% |
Balance Sheet
| Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $1.36B | $1.28B | $691.5M | $537.8M | $437.4M | $405.1M | $379.2M | $362.6M |
| Liabilities | $930.3M | $912.8M | $894.3M | $881.4M | $835.2M | $822.0M | $592.7M | $597.7M |
| Equity | $426.2M | $371.6M | $-203.2M | $-344.1M | $-398.4M | $-417.5M | $-214.1M | $-235.7M |
Cash Flow
| Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $-2.1M | $-621000 | $-11.9M | $-9.4M | $-14.7M | $8.5M | $-21.3M | $11.4M |
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