Stem is a software and services company focused on clean energy asset management. Its core product is PowerTrack, a SaaS platform that helps owners and operators of solar, energy storage, and hybrid solar-plus-storage assets monitor, control, and optimize their portfolios. Stem sells PowerTrack to a broad set of customers including C&I solar asset owners, project developers, independent power producers, utilities, and EPC firms, with 13 of the top 16 C&I solar asset owners in the U.S. on the platform. Stem currently manages 36 GW of solar assets and nearly 2 GWh of energy storage assets across 55 countries. Alongside PowerTrack, Stem offers Managed Services, a full-lifecycle offering where Stem designs, procures, commissions, operates, and optimizes battery energy storage systems on behalf of asset owners, using its AI-powered optimization software to dispatch storage into energy markets. Stem also offers Professional Services (advisory and consulting) and opportunistically resells third-party hardware, though it is de-emphasizing hardware given its low margins. PowerTrack is sold as a subscription, generating recurring ARR, while Managed Services contracts include a recurring base fee plus performance-based bonuses. Software carries 70-80% gross margins, making revenue mix the primary driver of profitability improvement. Stem's growth strategy focuses on defending its C&I solar leadership, expanding into utility-scale projects via its PowerTrack EMS product, and growing internationally, particularly in Europe.