Quick Answer
STEM, INC. reported R&D Expense of $35.30 million for fiscal year 2025.
STEM, INC. R&D Expense — Annual History
| Fiscal Year | R&D Expense | YoY Change |
|---|---|---|
| 2025 | $35.30M | -31.2% |
| 2024 | $51.28M | -9.2% |
| 2023 | $56.51M | +47.5% |
| 2022 | $38.30M | +68.6% |
| 2021 | $22.72M | +42.5% |
| 2020 | $15.94M | +8.4% |
| 2019 | $14.70M | — |
Quarterly R&D Expense
| Quarter Ending | R&D Expense | YoY | QoQ |
|---|---|---|---|
| September 30, 2025 | $6.92M | -37.6% | -30.8% |
| June 30, 2025 | $9.99M | -34.6% | -11.8% |
| March 31, 2025 | $11.33M | -19.9% | +2.2% |
| September 30, 2024 | $11.09M | -23.1% | -27.5% |
| June 30, 2024 | $15.28M | +7.9% | +8.1% |
| March 31, 2024 | $14.14M | +5.1% | -2.0% |
| September 30, 2023 | $14.42M | +37.0% | +1.9% |
| June 30, 2023 | $14.16M | +57.9% | +5.3% |
- STEM, INC. showed a decrease of -31.2% in R&D Expense compared to the prior fiscal year.
- Over the 2019–2025 period, STEM, INC.’s r&d expense has grown by 140.1% (from $14.70 million to $35.30 million).
- The most recent figure is from STEM, INC.’s fiscal year 2025 report (Form 10-K), filed with the SEC on March 5, 2026.
- All figures are sourced from SEC EDGAR XBRL filings, last verified June 17, 2026.
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