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Stem, Inc. (NYSE:STEM), currently trading at $0.55 with a market capitalization of $90.8 million, conducted its 2025 Annual Meeting of Stockholders on Wednesday, where shareholders voted on several significant proposals. According to InvestingPro analysis, the company faces significant financial challenges, including substantial debt burden and rapid cash burn. The meeting saw the participation of 89,497,115 shares, representing approximately 54% of the total shares eligible to vote.
Shareholders elected two Class I directors, Krishna Shivram and Laura D’Andrea Tyson, to serve until the 2028 Annual Meeting. Shivram received 34,804,913 votes in favor, while Tyson garnered 28,637,841 votes. Both directors had a substantial number of broker non-votes, totaling 52,705,164.
The meeting also resulted in the approval of an amendment to the 2024 Equity Incentive Plan, which increases the number of shares available for issuance by 4,000,000 and extends the plan term. This proposal received 25,804,633 votes in favor, with 10,398,891 against and 588,427 abstentions.
Additionally, shareholders approved the compensation of the company’s named executive officers on an advisory basis, with 23,900,186 votes in favor. A significant number of broker non-votes were recorded for this proposal as well. This comes as the company’s stock has shown mixed performance, with InvestingPro data indicating a 45.6% gain over the past six months despite a 56.3% decline over the past year.
Deloitte & Touche LLP was ratified as the independent auditor for the fiscal year ending December 31, 2025, with 85,047,786 votes in favor.
Two amendments to the company’s Certificate of Incorporation were also approved. The first amendment authorizes a reverse stock split at a ratio between 10:1 and 20:1, receiving 77,119,142 votes in favor. The second amendment reduces the total number of authorized shares, which was approved by 80,011,493 votes.
This information is based on a press release statement filed with the Securities and Exchange Commission (SEC). InvestingPro analysis reveals the company’s overall financial health score is rated as "WEAK," with particular concerns about profitability and cash flow. Subscribers can access 13 additional ProTips and comprehensive financial metrics in the Pro Research Report, providing deeper insights into Stem’s financial position and future prospects.
In other recent news, Stem Inc. reported its first-quarter 2025 earnings, surpassing expectations with revenue of $32.5 million against a forecast of $31.27 million. The company also posted an earnings per share (EPS) of -$0.15, exceeding the anticipated -$0.19. Stem Inc. achieved a 27% year-over-year increase in total revenue and reported its first positive operating cash flow of $9 million. The company announced a 27% reduction in workforce, aiming for $30 million in annual cost savings. Additionally, Stem Inc. reaffirmed its full-year 2025 financial guidance, focusing on improving profitability and expanding its software and services revenue. The company has positioned itself for growth in utility-scale and international markets, despite potential tariff impacts. Analyst feedback from firms like ROTH Capital Partners (WA:CPAP) and TD Cowen indicates a focus on the company’s cost reductions and strategic shifts in software and services. Stem Inc.’s recent operational adjustments and financial performance have been well-received, highlighting its strategic focus on software and services.
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