2024-05-06 11:52:25 ET
Summary
- Stem Inc. has struggled to deliver on its promise of becoming a high-margin recurring revenue play in the renewable energy and electricity storage sectors.
- The company suffers from project delays, legacy contractual obligations, and the high-interest rate environment.
- Management is now focussing on strengthening recurring revenues and improving profitability, enabling them to not require any further equity offerings.
- If Stem delivers on its promises, its valuation will be far too low and open up a lot of potential - yet this might still take some time.
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Stem: Short-Term Pain But Moving Towards Increasing Profitability