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Outlook
The Company is updating its full year 2024 guidance ranges as follows ($ millions, unless otherwise noted):
| Previous | Updated* | |
| Revenue | $600 - $700 | $567 - $667 |
| Non-GAAP Gross Margin (%) | 15% - 20% | Unchanged |
| Adjusted EBITDA | $5 - $20 | Unchanged |
| Bookings | $1,500 - $2,000 | Unchanged |
| CARR (year-end) | $115 - $130 | Unchanged |
| Operating Cash Flow | Greater than $50 | Unchanged |
See the section below titled "Reconciliations of Non-GAAP Financial Measures" for information regarding why Stem is unable to reconcile Non-GAAP Gross Margin and Adjusted EBITDA guidance to their most comparable financial measures calculated in accordance with GAAP.
*Full year revenue guidance has been adjusted downward dollar-for-dollar solely as a result of the $33 million reduction in revenue.
The Company reaffirms full year 2024 revenue projected quarterly performance as follows:
| 1QA | 2QE | 3QE | 4QE | |
| Revenue | $25M | 10% | 32% | 54% |
Posted In: STEM
