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.
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
STEM, INC. Q3 FY2025 Financial Summary
STEM, INC. reported revenue of $38.2M (up 30.5% YoY) for Q3 FY2025, with a net profit of $-23.8M (up 84.0% YoY) (-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 FY2025 |
Revenue Breakdown
STEM, INC. Q3 FY2025 revenue of $38.2M breaks down across 5 segments, led by Edge Hardware at $15.6M (40.7% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Edge Hardware | $15.6M | 40.7% |
| Power Track Software | $9.4M | 24.5% |
| Managed Services | $6.6M | 17.1% |
| Battery Hardware Resale | $4.3M | 11.2% |
| Project And Professional Services And Other | $2.5M | 6.5% |
STEM, INC. Revenue by Segment — Quarterly Trend
STEM, INC. revenue by segment across the last 4 reported quarters, showing how each business line (such as Edge Hardware and Power Track Software) has evolved quarter over quarter.
| Segment | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 |
|---|---|---|---|---|
| Edge Hardware | — | $15.6M | $12.1M | — |
| Power Track Software | — | $9.4M | — | — |
| Managed Services | — | $6.6M | — | — |
| Battery Hardware Resale | — | $4.3M | $5.4M | — |
| Project And Professional Services And Other | — | $2.5M | — | — |
STEM, INC. Annual Revenue by Year
STEM, INC. annual revenue history includes year-by-year totals (for example, 2025 revenue was $156.3M).
| Year | Annual Revenue |
|---|---|
| 2025 | $156.3M |
| 2024 | $144.6M |
| 2023 | $461.5M |
| 2022 | $363.0M |
STEM, INC. Quarterly Revenue & Net Profit History
STEM, INC. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $47.1M | -15.6% | $-16.0M | -33.9% |
| Q3 FY2025 | $38.2M | +30.5% | $-23.8M | -62.2% |
| Q2 FY2025 | $38.4M | +12.9% | $202.5M | 527.8% |
| Q1 FY2025 | $32.5M | +27.7% | $-25.0M | -76.9% |
| Q4 FY2024 | $55.8M | -66.7% | $-51.1M | -91.6% |
| Q3 FY2024 | $29.3M | -78.1% | $-148.3M | -506.3% |
| Q2 FY2024 | $34.0M | -63.4% | $-582.3M | -1712.6% |
| Q1 FY2024 | $25.5M | -62.2% | $-72.3M | -283.9% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $25.5M | $34.0M | $29.3M | $55.8M | $32.5M | $38.4M | $38.2M | $47.1M |
| YoY Growth | -62.2% | -63.4% | -78.1% | -66.7% | 27.7% | 12.9% | 30.5% | -15.6% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $1.28B | $691.5M | $537.8M | $437.4M | $405.1M | $379.2M | $362.6M | $308.9M |
| Liabilities | $912.8M | $894.3M | $881.4M | $835.2M | $822.0M | $592.7M | $597.7M | $557.9M |
| Equity | $371.6M | $-203.2M | $-344.1M | $-398.4M | $-417.5M | $-214.1M | $-235.7M | $-249.4M |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $-621000 | $-11.9M | $-9.4M | $-14.7M | $8.5M | $-21.3M | $11.4M | $8.2M |