Stem Announces Review of Strategic Alternatives to Maximize Shareholder Value

HOUSTON--(BUSINESS WIRE)--Stem, Inc. (NYSE: STEM) (the “Company”), a global leader in AI-enabled clean energy software and services, today announced that its Board of Directors (the “Board”) has initiated a formal review of strategic alternatives to maximize shareholder value. The Company has engaged Guggenheim Securities, LLC as financial advisor and Gibson Dunn & Crutcher LLP, and Davis Polk & Wardwell LLP, as legal advisors to assist with the review. 

The Board, with the assistance of management and its advisors, will consider a full range of strategic, financial, and operational alternatives, including, but not limited to, continuing to execute on the Company’s standalone strategic plan, sale of certain assets, sale of the Company, merger, refinancing, recapitalization or other transactions aimed at maximizing value.

“Our priorities are unchanged,” said Arun Narayanan, Chief Executive Officer of Stem. “Our team remains focused on serving our customers, supporting the more than 38 gigawatts of solar and 1.8 gigawatt hours of storage that rely on PowerTrack, and executing our plan. Customers, partners and employees can expect the same level of service, support and innovation from Stem throughout this process.”

The Board has not set a timetable for completion of the review, and there can be no assurance that the review will result in any transaction or other strategic outcome. The Company does not intend to disclose further developments with respect to the review unless and until the Board approves a specific transaction or otherwise determines that further disclosure is required or appropriate.  

As previously announced, Stem will report its third quarter 2026 results after market close on Thursday, November 5, 2026, and will host a conference call at 5:00 p.m. Eastern Time.

About Stem

Stem (NYSE: STEM) is a global leader reimagining technology to support the energy transition. We turn complexity into clarity and potential into performance.

Stem helps asset owners, operators, and energy stakeholders unlock the full value of their portfolios by enabling the intelligent development, deployment, and operation of clean energy assets. Stem’s integrated software suite, PowerTrack^TM, is the industry-standard and best-in-class platform for asset monitoring and optimization and is backed by expert professional and managed services, all delivered under one roof. Designed to address complex energy challenges seamlessly, our technology transforms raw data into clear, actionable insights, providing the visibility and intelligence needed to drive performance. With projects across 55 countries, customers have trusted Stem for nearly 20 years to maximize the value of their clean energy investments.

Driven by human and artificial intelligence, Stem is unlocking energy intelligence. Learn more at stem.com.

Forward-Looking Statements 

This press release, as well as other statements we make, contains “forward-looking statements” within the meaning of the federal securities laws, which include any statements that are not historical facts. Such statements often contain words such as “expect,” “may,” “can,” “believe,” “predict,” “plan,” “potential,” “projected,” “projections,” “forecast,” “estimate,” “intend,” “anticipate,” “ambition,” “goal,” “target,” “think,” “should,” “could,” “would,” “will,” “hope,” “see,” “likely,” and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as statements about the review of strategic alternatives, including timing and potential outcomes, our business strategies and those of our customers; our ability to retain or upgrade current customers, and our ability to further penetrate or expand into new markets. Such forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results or outcomes to differ materially from those expressed or implied by such forward-looking statements, including but not limited to the risk that the review of strategic alternatives may not result in any transaction or other strategic outcome, or that any transaction may not be completed on favorable terms, on the anticipated timeline, or at all; the effect of the announcement or pendency of the review on our business, stock price, and relationships with customers, suppliers, employees, and other business partners; the diversion of management’s attention and the costs incurred in connection with the review; our ability to achieve the expected benefits from our expansion into new markets, as well as our operational and strategic initiatives; including from our cost reduction and restructuring efforts; our inability to successfully execute on our strategy; the effects of the One Big Beautiful Bill on our business and that of our customers; disruptions in sales, production, service or other business activities; general macroeconomic and business conditions in key regions of the world, including inflationary pressures, general economic slowdown or a recession, high interest rates, changes in monetary policy, changes in trade policies, including tariffs or other trade restrictions or the threat of such actions, and instability in financial institutions; the direct and indirect effects of widespread health emergencies on our workforce, operations, financial results and cash flows; geopolitical instability, such as the armed conflicts between Russia and Ukraine and in the Gaza Strip and nearby areas; the results of operations and financial condition of our customers; pricing pressures; severe weather and seasonal factors; our inability to continue to grow and manage our growth effectively; our inability to attract and retain qualified employees and key personnel; our inability to comply with, and the effect on our business of, evolving legal standards and regulations, including those concerning data protection, consumer privacy, sustainability, and evolving labor standards; risks relating to the development and performance of our software-enabled services; our inability to retain or upgrade current customers, further penetrate existing markets or expand into new markets; the risk that our business, financial condition and results of operations may be adversely affected by other political, economic, business and competitive factors; and other risks and uncertainties discussed in this release and in our most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the SEC. If one or more of these or other risks or uncertainties materialize (or the consequences of any such development changes), or should our underlying assumptions prove incorrect, our actual results or outcomes, or the timing of these results or outcomes, may vary materially from those reflected in our forward-looking statements. Forward-looking statements in this press release are made as of the date of this release, and the Company disclaims any intention or obligation to update publicly or revise such forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.