STEM, INC. (STEM) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

Medium Risk
Moderate dilution risk
Last updated: June 02, 2026

Risk Assessment Details

Potential Dilution: 44.08% of current shares
Recent Dilution: 1.81% (2 years)
Historical Dilution Factor: minimal recent dilution
Outstanding Shares
8.2M
Potential Supply
3.6M
Additional shares possible
Splits
1 Split 1 Reverse
Past 2 years

Summary

STEM currently has 8.19M outstanding shares. with moderate dilution risk from 3.61M authorized shares representing 44.1% potential dilution. The company has minimally diluted shareholders by 1.81% over the past 2 years. Recent corporate actions include 1 stock split (positive for accessibility) and 1 reverse split (concerning signal).

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
Jun 02, 2026

S-3 filing: This filing registers the resale of 289,045 shares of common stock by a Selling Shareholder.

8.2M 3.6M
Nov 26, 2025

S-3 filing: This S-3 filing outlines a shelf registration for various types of securities, including common stock, preferred stock, rights, warrants, and units, which may be offered through underwriters, directly to purchasers, through agents, or via an at-the-market offering.

8.2M 3.3M
Sep 02, 2025

S-3 filing: This is an S-3 filing for the registration of resale of common stock and warrants by selling stockholders.

8.2M 3.3M
Jun 23, 2025
Stock Split

8-K filing: Stock split 1-for-20 | Outstanding: 163,889,801 → 8,194,490

8.2M 2.4M
Apr 30, 2025

10-Q filing | 163.9M shares outstanding

160M 49M
Mar 05, 2025

10-K filing | 161.4M shares outstanding

160M 49M
Oct 31, 2024

10-Q filing | 162.6M shares outstanding

160M 49M
Aug 07, 2024

10-Q filing | 162.2M shares outstanding

160M 49M
May 03, 2024

10-Q filing | 158.2M shares outstanding

160M 49M
Feb 29, 2024

10-K filing | 155.6M shares outstanding

160M 49M
Nov 03, 2023

10-Q filing | 155.8M shares outstanding

160M 49M
Aug 04, 2023

10-Q filing | 155.8M shares outstanding

160M 49M
May 05, 2023

10-Q filing | 155.0M shares outstanding

150M 49M
Feb 17, 2023

10-K filing | 153.4M shares outstanding

150M 49M
Nov 04, 2022

10-Q filing | 154.4M shares outstanding

150M 49M
Sep 02, 2022

S-3 filing: This S-3 filing describes a shelf registration for the possible issuance of common stock, preferred stock, and units consisting of a combination of these securities, through various methods including underwriters, direct sales, or agents.

150M 49M
Aug 05, 2022

10-Q filing | 154.1M shares outstanding

150M 49M
Jun 15, 2022

S-3 filing: This is an S-3 filing for Stem, Inc. regarding the offering of 8,621,006 shares of Common Stock by the Selling Securityholders.

150M 49M
Jun 02, 2022

POS AM filing: This POS AM filing relates to the offer and sale from time to time by the selling securityholders of 50,574,232 shares of common stock.

150M 40M
Jun 02, 2022

POS AM filing: This POS AM filing relates to the offer and sale from time to time by the selling securityholders of 1,115,683 shares of common stock originally issued in a private placement.

150M 40M
May 06, 2022

10-Q filing | 150.5M shares outstanding

150M 40M
Apr 29, 2022

POS AM filing: This prospectus relates to the offer and sale from time to time by the selling securityholders named in this prospectus (the "Selling Securityholders") of up to 50,574,232 shares of the common stock, par value $0.0001 per share, of the Company ("Common Stock").

150M 40M
Apr 29, 2022

POS AM filing: This prospectus relates to the offer and sale from time to time by the selling securityholders named in this prospectus of up to 1,115,683 shares of the common stock, par value $0.0001 per share, of the Company originally issued in a private placement pursuant to the Exchange.

150M 40M
Feb 28, 2022

10-K filing | 153.4M shares outstanding

150M 120M
Nov 10, 2021

10-Q filing | 140.3M shares outstanding

140M 120M
Aug 11, 2021

10-Q filing | 131.0M shares outstanding

130M 120M
Jul 19, 2021

S-1 filing: This S-1 filing relates to the offer and sale from time to time by selling securityholders of up to 4,683,349 shares of common stock originally issued in a private placement; the company will not receive any proceeds from the sale of these shares.

130M 120M
Jun 28, 2021

8-K filing: Stem, Inc. entered into an Exchange Agreement with Star Peak Sponsor LLC and Star Peak Sponsor Warrantco LLC, to exchange 7,181,134 warrants for 4,683,349 shares of the Company's common stock.

130M 120M
May 26, 2021

S-1 filing: This prospectus relates to the offer and sale from time to time by the selling securityholders of up to 52,107,817 shares of common stock and up to 7,181,134 warrants. It also relates to the issuance by us of up to an aggregate of 19,967,263 shares of our Common Stock which consists of 7,181,134 shares of Common Stock that are issuable upon the exercise the Private Placement Warrants and 12,786,129 shares of Common Stock that are issuable upon the exercise of 12,786,129 warrants.

130M 120M
May 17, 2021

10-Q filing | 125.8M shares outstanding

130M 40M
May 04, 2021

8-K filing: Star Peak Energy Transition Corp. (STPK) consummated its merger with Stem, Inc., resulting in New Stem. Several agreements were entered into, including an Investor Rights Agreement, an Equity Incentive Plan, Lock-Up Agreements, and New Executive Agreements. The company also filed its Second Amended and Restated Certificate of Incorporation and amended and restated its bylaws.

10M 40M
Mar 04, 2021

10-K filing | 10.1M shares outstanding

10M 40M
Dec 04, 2020

8-K filing: Stark Peak Energy Transition Corp. entered into a merger agreement with Stem, Inc. and will issue 65,000,000 shares of New Stem Common Stock. Additionally, STPK will issue 22,500,000 shares of New Stem Common Stock to PIPE Investors for $225,000,000. ($225.0M proceeds)

38M 40M
Nov 16, 2020

10-Q filing | 38.4M shares outstanding

38M 40M
Aug 26, 2020

8-K filing: Star Peak Energy Transition Corp. consummated an initial public offering of 35,000,000 units at $10.00 per unit and a private placement of 6,733,333 private placement warrants at $1.50 per warrant on August 20, 2020. On August 26, 2020, the company issued an additional 3,358,504 units at $10.00 per unit and the sponsor purchased 447,801 private placement warrants for $671,700.80. ($394.36M proceeds)

44B 40M
Aug 20, 2020

8-K filing: Star Peak Energy Transition Corp. completed its IPO of 35,000,000 units at $10.00 per unit, generating gross proceeds of $350,000,000, and simultaneously consummated a private placement of 6,733,333 private placement warrants to Star Peak Sponsor LLC at $1.50 per warrant, generating total proceeds of $10,100,000. ($360.1M proceeds)

44B 40M
Aug 11, 2020

S-1/A filing: This is an S-1/A filing for Star Peak Energy Transition Corp. registering 40,250,000 units, each consisting of one share of Class A common stock and one third of one warrant, with a proposed maximum offering price of $10.00 per unit and a total offering price of $402,500,000.

44B 40M
Jul 31, 2020

S-1 filing: S-1 filing for common stock offering, including Class A and Class B shares.

44B 44M
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