Stem Sees FY24 Revenue $200M-$270M Vs $567M-$667M Prior, $599M Estimate
Portfolio Pulse from Benzinga Newsdesk
Stem Inc. has significantly revised its FY24 revenue guidance downwards to $200M-$270M from the previous $567M-$667M, with a new estimate of $599M. Other financial metrics such as non-GAAP gross margin, adjusted EBITDA, bookings, CARR, and operating cash flow have also been updated.
August 06, 2024 | 9:18 pm
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Stem Inc. has significantly lowered its FY24 revenue guidance to $200M-$270M from the previous $567M-$667M. Other financial metrics such as non-GAAP gross margin, adjusted EBITDA, bookings, CARR, and operating cash flow have also been revised.
The significant downward revision in revenue guidance and other financial metrics indicates potential challenges for Stem Inc. This is likely to negatively impact investor sentiment and the stock price in the short term.
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