Stem, Inc. (NYSE:STEM) Q3 2024 Earnings Call October 30, 2024 5:00 PM ET

Company Participants

Ted Durbin - Head, Investor Relations
David Buzby - Interim Chief Executive Officer
Doran Hole - Chief Financial Officer and Executive Vice President
Mike Carlson - Chief Operating Officer

Conference Call Participants

James West - Evercore ISI
Thomas Boyes - TD Cowen
Justin Clare - ROTH Capital Partners

Operator

Good day, everyone and welcome to the Stem Inc. Third Quarter 2024 Results Conference Call. [Operator Instructions] Please also note that today’s event is being recorded. At this time, I’d like to turn the floor over to Ted Durbin, Head of Investor Relations. Sir, please go ahead.

Ted Durbin

Thank you, operator. This is Ted Durbin, Head of Investor Relations at Stem. Welcome to our third quarter 2024 earnings call.

Before we begin, please note that some of the statements we will be making today are forward-looking. These matters involve risks and uncertainties that could cause our results to differ materially from those projected in these statements. We therefore refer you to our latest 10-Q and our other SEC filings. Our comments today also include non-GAAP financial measures. Additional details and reconciliations to the most directly comparable GAAP financial measures can be found in our earnings release. We will be using a slide presentation today. Our earnings release and presentation are on the Investor Relations section of our website at www.stem.com.

David Buzby, our Interim CEO; and Doran Hole, CFO and EVP, will start the call today with prepared remarks. And Mike Carlson, our COO, will be available for the question and answer portion of the call.

And now I will turn the call over to David.

David Buzby

Thanks, Ted. Good afternoon and thank you all for joining us today. Starting on Slide 3 with our agenda, we will spend a good portion of our time discussing the results of our strategy review. Doran will then go through our third quarter results and updated 2024 guidance. And I will wrap up with some key takeaways.

Turning to Slide 4, as Ted mentioned, our Board of Directors appointed me as Interim CEO about 6 weeks ago. I also serve as Executive Chair of the Board. I was one of the early investors in Stem and been on the Board since 2010 witnessing the evolution of Stem and the maturation of the clean energy industry. I am well appointed with the company’s mission, strategy and management team, and it’s been a pleasure working more closely with everyone over the past 6 weeks.