Beam's Q4 Loss Wider Than Expected, Revenues Decline Y/Y

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]