WASHINGTON (dpa-AFX) - Stem, Inc. (STEM) Wednesday reported fourth-quarter results, with loss widening from last year, as increases in revenues were offset by lower gross margin and higher interest expenses.
Fourth-quarter net loss was $37.7 million, compared to a loss of $35.3 million last year. Revenues for the quarter were $167.4 million, up 8% from $155.5 million last year.
Gross margin dropped to 7% from 8% last year.
Looking forward to the full year 2024, the company expects revenues of $600 million to $700 million.
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