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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 117,883 $ 87,903
Short-term investments 87,678 162,074
Accounts receivable, net of allowances of $4,392 and $3,879 as of March 31, 2023 and December 31, 2022, respectively 232,764 223,219
Inventory, net 43,231 8,374
Deferred costs with suppliers 22,594 43,159
Other current assets (includes $66 and $74 due from related parties as of March 31, 2023 and December 31, 2022, respectively) 6,975 8,026
Total current assets 511,125 532,755
Energy storage systems, net 87,750 90,757
Contract origination costs, net 11,662 11,697
Goodwill 547,168 546,649
Intangible assets, net 161,596 162,265
Operating lease right-of-use assets 14,553 12,431
Other noncurrent assets 60,316 65,339
Total assets 1,394,170 1,421,893
Current liabilities:    
Accounts payable 112,541 83,831
Accrued liabilities 59,104 85,258
Accrued payroll 7,025 12,466
Financing obligation, current portion 16,271 15,720
Deferred revenue, current portion 75,421 64,311
Other current liabilities (includes $704 and $687 due to related parties as of March 31, 2023 and December 31, 2022, respectively) 5,547 5,412
Total current liabilities 275,909 266,998
Deferred revenue, noncurrent 72,574 73,763
Asset retirement obligation 4,223 4,262
Notes payable, noncurrent 1,679 1,603
Convertible notes, noncurrent 448,397 447,909
Financing obligation, noncurrent 61,065 63,867
Lease liabilities, noncurrent 12,634 10,962
Other liabilities 444 362
Total liabilities 876,925 869,726
Commitments and contingencies
Stockholders’ equity:    
Preferred stock, $0.0001 par value; 1,000,000 shares authorized as of March 31, 2023 and December 31, 2022; zero shares issued and outstanding as of March 31, 2023 and December 31, 2022 0 0
Common stock, $0.0001 par value; 500,000,000 shares authorized as of March 31, 2023 and December 31, 2022; 155,508,303 and 154,540,197 issued and outstanding as of March 31, 2023 and December 31, 2022, respectively 16 15
Additional paid-in capital 1,193,621 1,185,364
Accumulated other comprehensive loss (2) (1,672)
Accumulated deficit (676,859) (632,081)
Total Stem’s stockholders’ equity 516,776 551,626
Non-controlling interests 469 541
Total stockholders’ equity 517,245 552,167
Total liabilities and stockholders’ equity $ 1,394,170 $ 1,421,893