Financial Data and Key Metrics Changes - The third quarter revenues were $11.5 million, marking the second highest third quarter revenues in the company's history, with 47.9% derived from commercial customers, an increase of 80% compared to Q3 2023 [6][13] - For the nine months ending September 30, 2024, revenues totaled $41 million, with a backlog of $10.6 million as of November 7, 2024 [6][7] - GAAP gross margin improved to 10.7% from 1.7% in 2023, with non-GAAP gross margin reaching 17.6% after adjusting for non-cash items [7][8] - The net income for Q3 2024 was $1.3 million, compared to a net loss of $3.6 million in the same period in 2023 [13] - The cash balance decreased to $4.9 million from $10.4 million at the end of Q4 2023, primarily due to acquisition-related cash outlays [15] Business Line Data and Key Metrics Changes - The gross profit for the nine months ending September 30, 2024, was 12% of sales, with non-GAAP gross profit net of non-cash items at 18.3% [8] - The company experienced a significant increase in gross margin due to engineering design changes and cost reductions in materials and labor efficiencies [9][10] Market Data and Key Metrics Changes - The company has grown its pipeline of prospective customers to over $200 million, an all-time high, although the timing of actual sales remains uncertain [6][23] - The company noted a slowdown in orders from federal customers due to uncertainty surrounding the new administration's policies on electric vehicles [25][26] Company Strategy and Development Direction - The company is focusing on geographic expansion and new product offerings to capitalize on a broader range of opportunities, both domestically and internationally [20][37] - A new strategy involves adding resellers and distributors to broaden the sales funnel, moving away from reliance on a small in-house sales team [39][122] - The company is also working on improving its product offerings and reducing operating costs through acquisitions and operational efficiencies [62] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence that the current revenue decline is temporary and attributed it to order timing and regulatory uncertainties rather than a fundamental decline in demand [22][24] - The electrification of transportation and the need for renewable energy are expected to drive future growth, with significant investments anticipated in both the U.S. and Europe [22][35] - Management highlighted the importance of obtaining new certifications to meet evolving regulatory requirements, which is expected to unlock pent-up demand once achieved [29][113] Other Important Information - The company announced a sponsorship deal with Vinci Group to deploy EV arc systems at Belgrade International Airport, marking a new business model for revenue generation [48][51] - The acquisition of Telcom is expected to enhance the company's manufacturing capabilities and reduce costs associated with third-party components [60][62] Q&A Session Summary Question: Is there more government funding available for EV charging infrastructure in Europe compared to the U.S.? - Management indicated that while uncertainty exists in the U.S., Europe is expected to see significant government spending on electrification, with a strong push towards EV adoption [105][108] Question: Are there similar certification challenges in Europe as with UL in the U.S.? - Management confirmed that evolving regulations and certification processes are present in Europe, but efforts made for UL certification will aid in meeting CE requirements [110][112] Question: What is the next focus for maintaining business momentum? - The focus is on adding resellers, distributors, and agents to expand the sales force and reach a larger audience, moving beyond the current small sales team [121][122]

Financial Highlights - Revenues for 2024 were $49.3 million, more than double any previous year's revenue in the company's history excluding 2023, but a decrease from $67.4 million in 2023 [4][6] - The five-year revenue CAGR is 68% [4] - Revenues from non-government commercial entities increased by 229% from 2023 to 2024, accounting for 38% of total revenues in 2024 [4][6] - Positive full-year gross margins of 15%, an improvement of 13 percentage points over 2023 [4][7] - Adjusted non-GAAP gross margins were 21% [4][7] - Net cash used in operations for 2024 was $2.2 million, a significant decrease from $13.3 million in 2023 [4][11] - The company remains debt-free with a $100 million line of credit available and unused [4][5] Operational Highlights - The backlog as of December 31, 2024, was $5.6 million [4] - The company launched four new products: BeamSpot™, BeamBike™, BeamPatrol™, and BeamWell™ [4] - Achieved CE certification and compliance with the Build America, Buy America (BABA) Act for EV ARC™ [4] - Expanded into Middle Eastern and African markets through reselling partnerships [4] - Enhanced leadership team with key appointments in operations and sales [4] Strategic Developments - Acquired Serbia-based Telcom, providing in-house production capabilities for power electronics [4] - Received significant orders from the U.S. Army ($7.4 million) and the U.S. Department of Homeland Security ($4.8 million) for EV ARC systems [4] - Expanded global patent portfolio with new patents awarded for thermal management technology and wireless electric vehicle charging [9] Management Commentary - The CEO highlighted 2024 as a year of tremendous expansion, introducing more new products in the last quarter than in the previous decade [5] - The company is positioned for growth in 2025 due to geographic and product portfolio expansions despite political and economic uncertainties [5]

Core Viewpoint - Beam Global will report its 2024 operating results on April 11, 2025, and will host a conference call to discuss the financial results and corporate developments [1]. Group 1: Conference Call Details - The conference call is scheduled for April 11, 2025, at 4:30 p.m. Eastern Time [2]. - Callers are required to pre-register for the call using the provided link and should dial in approximately 10 minutes before the start time [2]. Group 2: Company Overview - Beam Global is a clean technology innovator focused on sustainable infrastructure products and technologies, particularly in the electrification of transportation and energy security [3]. - The company operates in the U.S. and Europe, developing and manufacturing advanced clean technology solutions that enhance transportation, provide secure electricity sources, and promote environmental protection [3]. - Beam Global is headquartered in San Diego, California, with additional facilities in Chicago, Illinois, and Serbia [3].

Core Viewpoint - Beam Global, a provider of sustainable infrastructure solutions for electrification and energy security, will report its 2024 operating results on April 11, 2025, after market close [1] Group 1: Conference Call Details - The conference call to discuss financial results will take place on April 11, 2025, at 4:30 p.m. ET [2] - Callers are required to pre-register for the call using 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 Chicago, IL, and Serbia [4]

Core Insights - Beam Global has formed a strategic partnership with Solvana to enhance its presence in the MENA region, focusing on renewable energy, storage, and water treatment solutions [1][3][5] - The partnership aims to deliver BeamWell™ products to Jordan, providing solar-powered electricity, clean drinking water, and e-mobility solutions for humanitarian assistance in Gaza [2][6] - The MENA region is projected to attract $1 trillion in renewable energy investments by 2030, with the electric vehicle market expected to reach approximately $52.24 billion by 2030, growing at a CAGR of 39.7% from 2025 to 2030 [5] Company Overview - Beam Global is a clean technology innovator focused on sustainable infrastructure products, including EV charging solutions and energy security technologies [8][9] - Solvana, a subsidiary of Greentech LLC, specializes in providing energy and water solutions in the MENA region, particularly in crisis situations [10] Leadership and Expertise - Solvana is led by Dr. Wissam Rabadi and Dr. Basim Saleh, who bring significant regional expertise and connections, positioning the company as a key partner for Beam Global [4][6] Market Opportunities - The partnership is set to leverage investment in off-grid infrastructure and the EV market across the MENA region, addressing the unique needs of local communities [6][7]

Core Insights - Beam Global and Zero Motorcycles are collaborating to showcase innovative electric motorcycle solutions for various sectors including military and law enforcement [1][2][3] - The demonstrations will take place at significant events such as MotoGP in Austin, Texas, and TEVCON in San Diego, California [2][4] - The BeamPatrol™ product bundle will feature Zero Motorcycles DSR/X models, emphasizing sustainability and performance [2][3] Company Overview - Beam Global is a clean technology innovator focused on sustainable infrastructure and energy security, headquartered in San Diego, CA [5] - Zero Motorcycles is recognized as the global leader in electric motorcycles, combining advanced technology with traditional motorcycle design [7] Event Details - Demonstrations will allow attendees to experience high-performance electric motorcycles and sustainable charging infrastructure [1][2] - The events aim to promote the benefits of electric vehicles, including performance, zero emissions, and cost savings [4]

Core Insights - Beam Global has reported a record-breaking increase in energy storage solutions (ESS) sales, with contracted orders in the first two months of 2025 nearly three times the total for the entire first quarter of 2024, indicating a 200% increase in new ESS orders [1][2][3] Company Overview - Beam Global is a clean technology innovator focused on sustainable infrastructure products and technologies, operating at the intersection of clean energy and transportation [4] - The company develops, patents, designs, engineers, and manufactures advanced clean technology solutions that enhance energy security and support electric vehicle (EV) infrastructure [4] Product Highlights - The Beam AllCell™ energy storage solutions utilize patented PCC™ technology, which allows for more power in a smaller and lighter battery while providing advanced thermal management capabilities to enhance safety [3] - The significant growth in ESS sales reflects strong market demand for Beam's advanced energy storage technology, driven by bespoke designs and superior safety features [2][3] Market Position - The CEO of Beam Global emphasized the importance of diversifying product offerings, particularly in light of uncertainties surrounding EV charging sentiment, and noted that the company is successfully expanding its business in Europe [3] - The increase in sales of energy storage solutions and other products in Europe serves as a positive indicator of the company's growth strategy [3]

Core Insights - Beam Global has reported record sales for the first two months of 2025 in Europe, with a 79% increase in new contracted orders compared to the same period in 2024, indicating significant growth potential in the European market [1][2][3] Company Performance - The increase in contracted product sales is attributed to strong demand for street lighting and other infrastructure products [2] - The CEO of Beam Global highlighted the company's focus on expanding sales in Europe, particularly in renewably energized EV charging and energy security products, as well as smart cities and street lighting portfolios [3] Market Opportunities - Greater Europe is identified as the largest automobile market globally, with over 405 million cars, and upcoming EU mandates banning internal combustion vehicle sales by 2035 and reducing greenhouse gas emissions by at least 55% by 2030 are expected to drive interest in Beam Global's products [4] - The company is actively engaging with prospective customers and government officials across several European countries, including the UK, France, and Greece, to foster growth and diversify revenue streams [3][4]

Company Overview - Beam Global is a clean technology innovator focused on sustainable infrastructure products and technologies, operating at the intersection of clean energy and transportation [2] - The company develops, patents, designs, engineers, and manufactures advanced clean technology solutions that support transportation, provide secure electricity sources, and protect the environment [2] - Beam Global is headquartered in San Diego, CA, with additional facilities in Chicago, IL, and Serbia, and is listed on Nasdaq under the symbol BEEM [2] Strategic Expansion - Beam Global is expanding its sales network in Europe by adding three new business partners, enhancing its distribution capabilities [1] - The CEO of Beam Global, Desmond Wheatley, emphasized that these agreements will leverage existing relationships to increase audience reach without additional operating costs [1] - This expansion is part of Beam Global's strategic growth into Europe, targeting the world's largest automotive market and reinforcing its commitment to electrification and energy security [1] Market Context - The EU has set ambitious targets for electric vehicles, mandating that they account for 80% of new car sales by 2030 and 100% by 2035 [5] - The EU electric vehicle charging station market was valued at USD 10.8 billion in 2024 and is projected to grow at a CAGR of 29.3% from 2025 to 2034, driven by the rapid growth of electric vehicles in Europe [5]

Core Insights - Beam Global has been granted a new patent for its Phase Change Composite (PCC™) spacer product, which is aimed at improving thermal management in Li-ion battery packs [1][2] - The PCC™ spacer technology introduces an innovative manufacturing process that prevents thermal runaway propagation, enhancing battery safety and efficiency [2][3] - The CEO of Beam Global emphasized that this patent strengthens the company's competitive position and addresses increasing demands for battery technology across various applications, including drones and robots [3] Company Overview - Beam Global is a clean technology innovator focused on sustainable infrastructure products and technologies, operating in the clean energy and transportation sectors [4] - The company develops and manufactures advanced clean technology solutions that support energy security, EV charging, and safe energy storage [4] - Beam Global is headquartered in San Diego, CA, with additional facilities in Chicago, IL, and Serbia, and is listed on Nasdaq under the symbol BEEM [4]