Jul. 31 at 11:15 AM
$STEM I expect Q2 revenue to come in lower than Q2 2025, mainly because last year included nearly €5.5M in battery hardware system sales.
On the other hand, I expect software revenue to increase yoy.
I also expect operating cash flow to be positive, largely due to the timing of interest payments.
That said, I'm mainly looking forward to updates on the following:
1. Bookings (is the outlook of 'up to €40 million' in hardware still intact?)
2. CARR & ARR (and when we can expect the accelerated growth trajectory Arun mentioned for 2027 onwards to be reflected in these metrics)
3. Can management reaffirm the full-year guidance?
4. Update on the Raicoon integration and any early synergies.
5. Update on how they capitalize on the European energy storage market
6. Any update on TAM (are they already moving forward with it, or do they plan to use it?)
7. Also, how is the cash position expected to develop through 2028 ahead of the first convertible notes repayment date?
We'll see.
