Energy storage company Stem’s revenue fell 12.3% year-over-year (YoY) to $33.65 million in the second quarter (Q2) of 2026 compared with $38.37 million, missing analysts’ estimates by $2.99 million.The company attributed the revenue decline to lower battery hardware resales and managed services revenue. Battery hardware resale revenue fell 94.7% YoY to $300,000 in Q2 2026 from $5 million in the corresponding quarter last year. Managed services revenue fell 34% YoY to $5.89 million from $9 million.
