![]() ![]() On this news, Stem's stock price fell $1.44, or 14.8%, to close at $8.30 per share on February 17, 2023, thereby injuring investors further. On, February 16, 2023, Stem released its fourth quarter 2022 results and its 2023 guidance, reporting a fourth quarter revenue of $156 million, missing consensus estimates by $10 million, and issued disappointing 2023 revenue guidance, missing consensus estimates by as much as $97 million. ![]() On January 11, 2023, Blue Orca Capital published a report alleging various undisclosed issues with Stem's business and financial prospects, including that the Company had overstated its software revenues by falsely claiming that the entirety of its services revenue line was attributable to software revenues. deferred cost of goods sold and inventory," "the review of certain revenue recognition calculations," and "the review of internal-use capitalized software calculations." On this news, Stem's stock price fell $1.19, or 3.4%, to close at $34.24 per share on March 15, 2021, thereby injuring investors. On March 15, 2021, Stem disclosed that it had previously undisclosed material weaknesses in its control over financial reporting related to "accounting for. ![]() Linehan, of GPM at 31, Toll-Free at 88, or via email at to learn more about your rights. If you wish to serve as lead plaintiff of the Stem lawsuit, you can submit your contact information at You can also contact Charles H. ![]()
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