Beam Global (BEEM) reported an adjusted loss of 32 cents per share in the first quarter of 2025, wider than the Zacks Consensus Estimate of a loss of 16 cents. The company had incurred a loss of 21 cents per share in the year-ago quarter. The company reported net sales of $6.3 million in the quarter, which missed the Zacks Consensus Estimate of $15 million and fell from the year-ago quarter’s $14.6 million.The year-over-year decline in revenues was primarily due to uncertainty surrounding the U.S. governmen ...

Beam Global (BEEM) Q1 2025 Earnings Call May 15, 2025 04:30 PM ET Speaker0 Good day, and welcome to the Beam Global First Quarter twenty twenty five Operating Results Conference Call. All participants will be in a listen only mode. Please note this event is being recorded. I would now like to turn the conference over to Lisa Potok, Chief Financial Officer. Please go ahead. Speaker1 Hi. Good afternoon and thank you for participating in Beam Global's first quarter twenty twenty five operating results conferen ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________________ to ________________ Commission File Number 001-38868 Beam Global (Exact name of Registrant as specified in its charter) Nevada 26-1342810 (Stat ...

SAN DIEGO, May 15, 2025 (GLOBE NEWSWIRE) -- Beam Global, (Nasdaq: BEEM), (the “Company”), a leading provider of innovative and sustainable infrastructure solutions for the electrification of transportation and energy security, today announced its first quarter results for the period ended March 31, 2025. Q1 2025 Financial Highlights Revenue CAGR 60% for trailing 60 monthsCommercial Revenues increased 41% over Q1 2024Positive GAAP Gross Margin 8%Adjusted non-GAAP Gross Margin, net of non-cash costs 21%Net ca ...

Revenue Performance - Revenues for 2024 were $49.3 million, more than double any previous year's revenue in the company's history excluding 2023, with a five-year revenue CAGR of 68%[5] - Revenues from non-government commercial entities increased by 229% from 2023 to 2024, accounting for 38% of total revenues in 2024[7] - GAAP total revenue for 2024 was $49,336 million, a decrease of 26.7% from $67,353 million in 2023[23] Profitability and Margins - Gross profit was $7.3 million, representing a gross margin of 15%, an improvement of 13 percentage points over 2023[8] - GAAP gross profit increased to $7,296 million in 2024 from $1,204 million in 2023, reflecting a significant improvement[23] - Non-GAAP gross profit for 2024 was $10,451 million, compared to $2,174 million in 2023, resulting in a gross margin of 21%[25] - The company reported a gross margin improvement from 3% in 2023 to 21% in 2024, indicating better cost management[25] Operational Efficiency - Net cash used in operations for 2024 was $2.2 million, a significant decrease from $13.3 million in 2023[11] - Loss from operations decreased to $11.7 million in 2024, compared to $16.3 million in 2023, reflecting improved gross profit and management of operating expenses[10] - Non-GAAP loss from operations decreased to $8,905 million in 2024 from $11,775 million in 2023[25] - Operating expenses increased to $19.0 million in 2024, primarily due to a full year of expenses from the Serbian acquisition[9] - Operating expenses for 2024 were $18,953 million, up from $17,465 million in 2023[23] Financial Position - The company maintained a backlog of $5.6 million as of December 31, 2024, and remains debt-free with a $100 million line of credit available and unused[5] - The net loss for 2024 was $11,282 million, an improvement from a net loss of $16,060 million in 2023[23] - Total comprehensive loss for 2024 was $13,063 million, compared to $15,436 million in 2023, indicating a reduction in overall losses[23] - Interest income decreased to $205 million in 2024 from $261 million in 2023[23] Product Development and Market Expansion - The company launched four new products: BeamSpot™, BeamBike™, BeamPatrol™, and BeamWell™[5] - Beam Global expanded its geographic reach into Middle Eastern and African markets through reselling partnerships[5] - The company achieved CE certification and compliance with the Build America, Buy America Act for its EV ARC™ systems[5] Shareholder Information - The weighted average shares outstanding increased to 14,621 million in 2024 from 12,345 million in 2023[23]

Core Viewpoint - Beam Global, a provider of sustainable infrastructure solutions for electrification and energy security, will report its Q1 2025 operating results on May 15, 2025, after market close, followed by a conference call to discuss the results and corporate developments [1]. Group 1: Conference Call Details - The conference call is scheduled for May 15, 2025, at 4:30 p.m. Eastern / 1:30 p.m. Pacific [2]. - Callers are required to pre-register for the call through a provided link and should dial in approximately 10 minutes before the scheduled start time [2]. Group 2: Company Overview - Beam Global is a clean technology innovator focused on sustainable energy infrastructure, EV charging solutions, energy storage, and energy security [4]. - The company operates in the U.S. and Europe, developing and manufacturing advanced clean technology solutions [4]. - Beam Global is headquartered in San Diego, CA, with additional facilities in Broadview, IL, and Serbia [4].

Core Insights - Beam Global has reported a 23% quarter-over-quarter increase in orders for its EV ARC™ off-grid solar-powered charging units, indicating a growing demand for clean infrastructure solutions despite a reduction in federal demand [2][4] - The company is shifting its focus towards commercial customers while still receiving orders from federal entities, reflecting a strategic adaptation to market conditions [4] Company Overview - Beam Global is a clean technology innovator that develops sustainable infrastructure products and technologies, focusing on the intersection of clean energy and transportation [6][7] - The company operates in the U.S. and Europe, with headquarters in San Diego, CA, and additional facilities in Broadview, IL, and Serbia [7] Market Demand - The increase in orders aligns with the growth of electric vehicle sales in the U.S., which have risen by 29% globally and 16% in North America in 2025 [4] - Recent orders have come from a diverse range of clients, including municipal and county governments, state and federal agencies, environmental organizations, and private sector companies in construction, clean energy, and technology [3]

Core Insights - Beam Global has successfully sold its first EV ARC™ systems in Romania, marking a significant step in the country's transition to renewable energy in line with EU climate goals [1][2] - Romania aims for 34% renewable energy production by 2030, prioritizing clean transportation solutions, which aligns with Beam Global's offerings [2] - The sales were facilitated by Seltis Glass Design SRL, a local reseller with a successful history in selling infrastructure products, demonstrating Beam Global's effective strategy of leveraging local partnerships [3] Company Overview - Beam Global is a clean technology innovator focused on sustainable infrastructure products and technologies, operating in the nexus of clean energy and transportation [6] - The company develops and manufactures scalable EV charging solutions, energy storage, and energy security products, with operations in the U.S. and Europe [6] - Beam Global has been recognized for its innovative contributions to clean mobility and energy efficiency, receiving an award at the 2025 Congress of Mayors in Romania [4][5] Market Context - Romania is experiencing rapid economic growth and significant investment in electrification and sustainable energy infrastructure, creating a favorable environment for Beam Global's products [5] - The company's strategy of geographic expansion through local resellers allows for increased sales without significant investment, which is crucial for growth in emerging markets [5]

Financial Performance - Beam Global reported an adjusted loss of 31 cents per share in Q4 2024, wider than the Zacks Consensus Estimate of a loss of 23 cents, compared to a loss of 51 cents per share in the same quarter last year [1] - The company reported net sales of $8 million in Q4 2024, missing the Zacks Consensus Estimate of $15 million and down from $20 million in the year-ago quarter [1] - Revenues in Q4 2024 decreased from $11.5 million in Q3 2024, primarily due to lower federal sales and order timing issues [2] - Cost of revenues fell to $6.25 million in Q4 2024 from $19.6 million in Q4 2023, while operating expenses rose to $7.3 million from $5.5 million in the same period [2] Cash Flow and Backlog - As of December 31, 2024, the company had a total backlog of $5.6 million [3] - Cash reserves decreased to $4.6 million from $10.4 million as of December 31, 2023, with the company remaining debt-free [3] - Net cash used for operating activities was $2.2 million for the 12 months ended December 31, 2024, compared to $13.3 million for the same period in 2023 [3] - Capital expenditure totaled $825,000, down from $937,000 in 2023 [3] Product Development and Market Strategy - The company introduced new products such as BeamSpot, BeamBike, BeamWell, and BeamPatrol to diversify revenue sources by targeting specific market segments, including disaster response, urban transportation, and law enforcement [4] - In 2025, the company expects to achieve positive cash flow despite flat revenues compared to 2024, with growth anticipated to resume in subsequent quarters supported by a broader product range and focus on international markets [5] Market Outlook - The Trump administration's unfavorable stance on emerging technologies is expected to hinder the company's growth in Q1 2025 [5]

EV Charging Infrastructure - Beam's EV charging infrastructure products are powered by renewable energy and provide services in locations where grid connection is expensive or impossible[18]. - Beam's EV ARC™ product is the world's first transportable, solar-powered EV charging infrastructure that can charge between one and six EVs simultaneously and can be set up in less than an hour[30]. - Beam's products are designed to operate during grid outages, providing emergency power and EV charging without relying on the utility grid[32]. - The company aims to address the increasing demand for rapidly deployable EV charging infrastructure that does not require construction or electrical work[30]. - Beam's products provide a hedge against grid failures, with 25% of all EV charging infrastructure suggested to be independent of the centralized grid[37]. - The introduction of BeamBike™, capable of charging 12 electric bicycles simultaneously, supports the electrification of transportation without requiring utility connections[54]. - BeamPatrol™ can charge 4 electric motorcycles simultaneously and targets law enforcement agencies, creating significant sales opportunities[55]. - BeamSpot™ provides street lighting and curbside EV charging without extensive construction, ideal for municipalities and large parking areas[56]. - BeamWell™ is designed for rapid deployment in disaster areas, providing essential services like electricity and clean water within an hour[57]. - The company has expanded sales of EV ARC™ systems to 41 states and three international countries, with significant contracts from the U.S. Federal Government and the State of California[44]. Market Growth and Trends - The global lithium-ion battery market is projected to grow from $130 billion in 2024 to $350 billion by 2033, with a CAGR of 12%[34]. - The electric vehicle infrastructure market is projected to reach $224.8 billion by 2032, with a CAGR of 27.5% from 2024 to 2032[64]. - The EU's mandate for zero-emission vehicles by 2035 is expected to drive demand for Beam's EV charging infrastructure products[182]. Acquisitions and Expansion - Beam acquired Amiga DOO Kraljevo in October 2023, enhancing manufacturing capabilities for steel structures in Europe, targeting municipalities and government entities[38][45]. - Beam acquired Telcom d.o.o. Beograd in August 2024, focusing on power electronics and telecommunications equipment, expanding product opportunities in Europe[39][46]. - The acquisition of Amiga in 2023 positions the company as one of the largest streetlight manufacturers in Europe, enhancing its product portfolio[59]. - Beam's growth strategy includes geographic expansion into Europe, the Middle East, and Africa, with successful sales to the British Army and deployments at Belgrade International Airport[50]. Financial Performance - Beam's revenue for the year ending December 31, 2024, was $49.3 million, a decrease from $67.4 million in 2023, but a 124% increase from $22.0 million in 2022[179]. - The gross profit for 2024 was $7.3 million, compared to $1.2 million in 2023, with a gross margin of 14.8%, up thirteen percentage points from the previous year[186]. - Major contracts with the State of California and GSA accounted for 58% and 77% of revenues in 2024 and 2023, respectively[72]. - The company's backlog decreased from $21.7 million in 2023 to $5.6 million in 2024, indicating a significant reduction in future revenue commitments[96]. - In 2024, 62% of the company's revenue came from federal, state, and local governments, down from 80% in 2023[95]. - The company reported net losses of $11.3 million in 2024, compared to $16.1 million in 2023, contributing to an accumulated deficit of $104.6 million as of December 31, 2024[100]. Operational Challenges - The company may need additional financing to fund operations and working capital, with no guarantee of favorable terms[101]. - The company faces intense competition in the solar renewable energy and EV charging industries, with competitors having greater resources[114]. - The company is dependent on revenues from its EV ARC™ products and energy storage products following acquisitions, with no assurance of continued market acceptance[115]. - The company may encounter difficulties in integrating acquired businesses, which could adversely affect its operations and financial results[106]. - The company faces potential demand reduction for solar power products due to existing and changing regulations, which may create economic barriers[122]. - The company is exposed to product liability claims, which could result in significant costs and damage to reputation if successful[126]. Internal Controls and Compliance - A material weakness in internal controls over financial reporting has been identified, which could impact the accuracy and timeliness of financial reporting[152]. - The company has identified material weaknesses in internal controls as of December 31, 2023, which continued to exist as of December 31, 2024[214]. - The company is undertaking an action plan to strengthen internal controls and procedures to address the identified material weaknesses[216]. - Internal control systems have inherent limitations and may not prevent or detect misstatements[212]. Customer Segments and Sales Strategy - The company aims to diversify its customer segments, targeting state, municipal, and federal governments, corporations, and universities[43]. - In 2024, over 30% of sales were from non-government customers, indicating a strategic shift towards corporate clients[62]. - The company has engaged outside sales resources to enhance its sales strategy, aiming to increase revenues while maintaining low operational costs[65]. Product Development and Innovation - Beam's energy storage solutions utilize proprietary technology to enhance safety and performance, preventing thermal events and extending battery life[34]. - Beam's products are designed to be environmentally sound, providing 100% emissions-free electricity, unlike grid-tied chargers that rely on fossil fuel-generated electricity[91]. - BeamTrak™, the company's patented solar tracking solution, can generate up to 25% more electricity than fixed arrays, enhancing the efficiency of their products[91]. - The BeamSpot™ product combines streetlight infrastructure with solar, wind, and energy storage for curbside charging and emergency power[173]. Risks and Uncertainties - The company expects to generate an increasing portion of its revenue internationally, which may expose it to additional risks[111]. - The company is subject to foreign currency exchange rate risks due to acquisitions in Serbia, impacting its financial condition[113]. - The company may face increased costs and supply restrictions due to tariffs imposed on imported solar cells and modules[117]. - The availability of financial incentives, such as tax credits, is crucial for demand; any reduction or uncertainty could significantly impact sales[143].