Beam Global (NASDAQ: BEEM) reported Q1 2025 results with revenues of $6.3 million and a 60% revenue CAGR over trailing 60 months. Commercial revenues increased 41% YoY, with commercial customers now representing 53% of revenue vs 16% in Q1 2024. International sales grew to 25% of revenue compared to 11% last year. The company maintained a positive GAAP gross margin of 8% and adjusted non-GAAP gross margin of 21%. However, BEEM recorded a net loss of $15.5 million, including $12.5 million in non-cash expenses, primarily due to a $10.8 million goodwill impairment. The company remains debt-free with $2.5 million cash on hand and an unused $100 million credit line. Notable achievements include expanded European distribution partnerships, Middle East market entry, and new patent grants for battery technology.
Beam Global (NASDAQ: BEEM) ha riportato i risultati del primo trimestre 2025 con ricavi di 6,3 milioni di dollari e un CAGR dei ricavi del 60% negli ultimi 60 mesi. I ricavi commerciali sono aumentati del 41% su base annua, con i clienti commerciali che ora rappresentano il 53% dei ricavi rispetto al 16% del primo trimestre 2024. Le vendite internazionali sono cresciute fino al 25% dei ricavi rispetto all'11% dell'anno precedente. L'azienda ha mantenuto un margine lordo GAAP positivo dell'8% e un margine lordo rettificato non-GAAP del 21%. Tuttavia, BEEM ha registrato una perdita netta di 15,5 milioni di dollari, inclusi 12,5 milioni di dollari di spese non in contanti, principalmente dovute a una svalutazione dell'avviamento di 10,8 milioni di dollari. L'azienda rimane senza debiti, con 2,5 milioni di dollari di liquidità disponibile e una linea di credito non utilizzata da 100 milioni di dollari. Tra i risultati rilevanti vi sono l'espansione delle partnership di distribuzione in Europa, l'ingresso nel mercato del Medio Oriente e nuove concessioni di brevetti per la tecnologia delle batterie.
Beam Global (NASDAQ: BEEM) informó los resultados del primer trimestre de 2025 con ingresos de 6,3 millones de dólares y una Tasa de Crecimiento Anual Compuesta (CAGR) del 60% en los últimos 60 meses. Los ingresos comerciales aumentaron un 41% interanual, con clientes comerciales que ahora representan el 53% de los ingresos frente al 16% en el primer trimestre de 2024. Las ventas internacionales crecieron hasta representar el 25% de los ingresos, comparado con el 11% del año pasado. La compañía mantuvo un margen bruto GAAP positivo del 8% y un margen bruto ajustado no-GAAP del 21%. Sin embargo, BEEM registró una pérdida neta de 15,5 millones de dólares, incluyendo 12,5 millones en gastos no monetarios, principalmente debido a una depreciación por deterioro de fondo de comercio de 10,8 millones. La empresa continúa sin deuda, con 2,5 millones en efectivo disponible y una línea de crédito no utilizada de 100 millones. Logros destacados incluyen la expansión de asociaciones de distribución en Europa, la entrada al mercado de Medio Oriente y nuevas concesiones de patentes para tecnología de baterías.
Beam Global (NASDAQ: BEEM)은 2025년 1분기 실적을 발표하며 630만 달러의 매출과 최근 60개월 동안 60%의 매출 연평균 성장률(CAGR)을 기록했습니다. 상업 매출은 전년 동기 대비 41% 증가했으며, 상업 고객이 전체 매출의 53%를 차지해 2024년 1분기의 16%에서 크게 늘었습니다. 국제 매출은 전체 매출의 25%로 증가해 지난해 11%에서 상승했습니다. 회사는 8%의 긍정적인 GAAP 총이익률과 21%의 조정 비-GAAP 총이익률을 유지했습니다. 그러나 BEEM은 1,550만 달러의 순손실을 기록했는데, 이 중 1,250만 달러는 비현금성 비용으로 주로 1,080만 달러의 영업권 손상차손 때문입니다. 회사는 부채 없이 250만 달러의 현금을 보유하고 있으며, 사용하지 않은 1억 달러의 신용 한도를 유지하고 있습니다. 주요 성과로는 유럽 유통 파트너십 확대, 중동 시장 진출, 배터리 기술에 대한 신규 특허 획득 등이 있습니다.
Beam Global (NASDAQ : BEEM) a annoncé ses résultats du premier trimestre 2025 avec des revenus de 6,3 millions de dollars et un TCAC des revenus de 60% sur les 60 derniers mois. Les revenus commerciaux ont augmenté de 41% en glissement annuel, les clients commerciaux représentant désormais 53% des revenus contre 16% au premier trimestre 2024. Les ventes internationales ont progressé pour représenter 25% des revenus contre 11% l'année précédente. La société a maintenu une marge brute GAAP positive de 8% et une marge brute ajustée non-GAAP de 21%. Cependant, BEEM a enregistré une perte nette de 15,5 millions de dollars, incluant 12,5 millions de charges non monétaires, principalement dues à une dépréciation du goodwill de 10,8 millions. L'entreprise reste sans dette, avec 2,5 millions de dollars de trésorerie disponible et une ligne de crédit non utilisée de 100 millions. Parmi les réalisations notables figurent l'élargissement des partenariats de distribution en Europe, l'entrée sur le marché du Moyen-Orient et l'obtention de nouveaux brevets pour la technologie des batteries.
Beam Global (NASDAQ: BEEM) meldete die Ergebnisse für das erste Quartal 2025 mit Umsätzen von 6,3 Millionen US-Dollar und einer jährlichen Umsatzwachstumsrate (CAGR) von 60% über die letzten 60 Monate. Die kommerziellen Umsätze stiegen im Jahresvergleich um 41 %, wobei kommerzielle Kunden nun 53 % der Umsätze ausmachen gegenüber 16 % im ersten Quartal 2024. Der internationale Umsatz wuchs auf 25 % des Gesamtumsatzes im Vergleich zu 11 % im Vorjahr. Das Unternehmen erzielte eine positive GAAP-Bruttomarge von 8% und eine bereinigte Non-GAAP-Bruttomarge von 21%. Allerdings verzeichnete BEEM einen Nettoverlust von 15,5 Millionen US-Dollar, inklusive 12,5 Millionen US-Dollar nicht zahlungswirksamer Aufwendungen, hauptsächlich aufgrund einer Goodwill-Abschreibung von 10,8 Millionen US-Dollar. Das Unternehmen bleibt schuldenfrei, verfügt über 2,5 Millionen US-Dollar liquide Mittel und eine ungenutzte Kreditlinie von 100 Millionen US-Dollar. Zu den bemerkenswerten Erfolgen zählen erweiterte Vertriebspartnerschaften in Europa, der Markteintritt im Nahen Osten sowie neue Patenterteilungen für Batterietechnologie.
Positive
Commercial revenues increased 41% year-over-year
International revenue grew to 25% of total revenue from 11% last year
Improved adjusted non-GAAP gross margin to 21% from 12% in Q1 2024
Reduced net cash used in operations to $1.8M from $3.0M in Q1 2024
Debt-free status with $100M unused credit line available
Geographic expansion with new distribution partnerships in Europe and Middle East
Negative
Revenue declined due to U.S. government sales uncertainty
Net loss increased to $15.5M from $3.0M in Q1 2024
Goodwill impairment charge of $10.8M due to stock price decline
Cash position decreased to $2.5M from $4.6M at end of 2024
GAAP gross margin declined to 8% from 10% in Q1 2024
Insights
Beam Global reported mixed Q1 results with declining revenue but improving commercial sales mix and expanding international presence amid U.S. market uncertainties.
Beam Global's Q1 2025 results reveal a company in transition, working to diversify beyond its previously heavy reliance on U.S. government contracts. While headline numbers appear concerning with revenue decreasing (though exact percentage decline wasn't specified) and net loss widening to $15.5 million from $3.0 million year-over-year, several underlying metrics suggest strategic adjustments are underway.
Most notable is the significant shift in customer mix. Commercial revenue jumped to 53% of total sales compared to just 16% in Q1 2024, while international customers now represent 25% of revenue versus 11% a year ago. This diversification strategy appears to be a deliberate response to what the company describes as "uncertainty in the U.S. government's zero emission vehicle strategy related to the presidential election."
The $10.8 million goodwill impairment charge significantly impacted operating expenses, though management emphasizes this is a non-cash item triggered by stock price decline rather than operational issues. Excluding this and other non-cash items, the net loss was $2.8 million compared to $2.1 million in Q1 2024.
On the positive side, the adjusted non-GAAP gross margin improved substantially to 21% from 12% a year earlier, reflecting success in reducing EV ARC™ production costs and realizing synergies from acquisitions. Cash burn has also improved, with net cash used in operations decreasing to $1.8 million from $3.0 million in Q1 2024.
The company maintains a debt-free balance sheet with $2.5 million in cash and an unused $100 million credit line. With a current backlog of $6.3 million and continued international expansion efforts, management expresses confidence in returning to growth despite domestic market challenges.
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 months
Commercial Revenues increased 41% over Q1 2024
Positive GAAP Gross Margin 8%
Adjusted non-GAAP Gross Margin, net of non-cash costs 21%
Net cash used in Operations for Q1 2025 $1.8 million vs. Q1 2024 $3.0 million
Backlog of $6.3 million
Debt free and $100 million line of credit available and unused
Q1 2025 and Recent Operational Highlights
In Q1 2025 we shipped EV ARC™ units, ARC Mobility™ trailers, energy storage systems (ESS), lighting poles and smart city infrastructure solutions to locations across California, Arizona, Colorado, Florida, Michigan, Oregon, and internationally to Croatia, Serbia, Spain and Romania
Achieved CE (Conformité Européenne) certification on EV ARC™
Granted U.S. Patent for High-Volume Battery Assembly and Safety Technology
Expanded our European sales network with three new distribution partners
Seltis Glass Design S.R.L. for the Romanian market
Evrosimovski Consulting Ltd. for the North Macedonian market
BBA International for the Albanian market
Entered Middle Eastern market through partnership with Solvana
Launched BeamPatrol™ partnership with Zero Motorcycles with two BeamPatrol™ units at MotoGP in Austin to charge electric motorcycle demonstrations
Expanded into Romania with First EV ARC™ Sales through our Romanian reselling agent, Seltis Glass Design SRL
Won the Award for Innovation in Sustainable Infrastructure at the 2025 Congress of Mayors and Local Administration of Romania
Won the 2024 Award for Business Success by Serbian Chamber of Commerce
"Though we are navigating through a series of uncertainties in the U.S. market, our other expansion efforts lead us to believe that we have the pieces in place to return to growth in this and future quarters," said Desmond Wheatley, CEO of Beam Global. "Sales of our flagship product EV ARC™ increased in the first quarter. Our battery business is doing some of the most interesting and promising work it has ever done. Our international expansion strategy is gaining momentum and bearing fruit. We have sufficient cash and working capital to continue to operate the business into the future. We have no debt and no going concern. We’re generating gross profits which, net of non-cash items, are still north of 20%. We have proposals out and items in our pipeline, which would simply not have been possible this time last year before we introduced our fantastic new product lineup and expanded beyond the US market. Losing the immediate benefits of U.S. federal government sales has been tough on us, but we are managing through that and have created a foundation for growth which is resistant to those sorts of upheavals, and which I believe, will create opportunities for growth which far out strip anything that we’ve ever done before.”
Revenues For the first quarter of 2025, Beam Global’s revenues were $6.3 million. The Company has a Revenue CAGR of 60% for the trailing 60 months, as of the three months ending March 31, 2025. Revenues were diverse across commercial entities and state and local governments with a significant rebalancing towards enterprise customers. For the first quarter of 2025, 53% of revenues were derived from commercial customers compared to 16% in the same period in 2024. International customers comprised 25% of all revenue as of March 31, 2025 compared to 11% for the three months ended March 31, 2024. We believe that the decrease in revenue is mainly a result of uncertainty in the U.S. government’s zero emission vehicle strategy related to the presidential election.
Gross Profit
Gross profit for the quarter ended March 31, 2025, was $0.5 million, or 8% gross margin, compared to gross profit of $1.5 million, or 10% gross margin in the first quarter of the prior year. The gross profit includes a non-cash negative impact of $1.0 million for depreciation and amortization of intangible assets resulting from the AllCell acquisition. Our gross margin, net of non-cash items, was 21% for the quarter ended March 31, 2025 compared to 12% for the quarter ended March 31, 2024. Our engineering team has continued to implement design changes which have reduced the bill of materials for the EV ARCTM, improving the product margins throughout 2024 and leading into 2025. Additionally, we have continued to recognize synergies and positive gross margin contributions from our acquisitions. We expect the Company’s revenue to grow in the future and our fixed overhead absorption to continue to improve resulting in improved gross margins.
Operating Expenses and Impairment of Goodwill
The first quarter 2025 total operating expenses of $16.0 million included $10.8 million of goodwill impairment, for the single reporting unit, because our market capitalization no longer exceeded our net assets at March 31, 2025 due to the decrease in our stock price since December 31, 2024. Our operating expenses, net of non-cash items for the three months ended March 31, 2025 are $4.1 million compared to 2024 of $3.8 million, a variance of $0.2 million or 6%. The Company believes the goodwill impairment reported during the three months ended March 31, 2025 is not a negative indicator of historic or current operating results and not a negative indicator of future performance as the Company has taken significant steps to diversify its geographical reach and product offerings while focusing on strategic growth. The Company believes that the resulting non-cash charge has no impact on the Company’s compliance with its cash flows or available liquidity and that its acquired entities are contributing positively to its operations and growth potential.
Net Loss
The first quarter net loss of $15.5 million included $12.5 million of non-cash expense items such as goodwill impairment, depreciation and amortization, stock-based compensation and provisions for credit losses in 2025, compared to a net loss of $3.0 million with non-cash expenses of $1.1 million in 2024. The first quarter 2025 net loss excluding non-cash items was $2.8 million compared to $2.1 million for the same period in 2024.
Cash
On March 31, 2025, we had cash of $2.5 million, compared to cash of $4.6 million at December 31, 2024.
Net cash used for operating activities was $1.8 million for the three months ended March 31, 2025 compared to $3.0 million for the same period in 2024.
We have historically met our cash needs through a combination of debt and equity financing and more recently through increasing gross profit contributions. Our cash requirements are generally for operating activities and acquisitions.
Non-GAAP Financial Measures
To supplement our condensed consolidated financial statements, which are prepared in accordance with GAAP, we present Non-GAAP financial measures, in this press release. We use Non-GAAP in conjunction with GAAP measures as part of our overall assessment of our performance to evaluate the effectiveness of our business strategies and to communicate with our board of directors concerning our financial performance. We believe Non-GAAP is also helpful to investors, analysts and other interested parties because it can assist in providing a more consistent and comparable overview of our operations across our historical financial periods. Non-GAAP has limitations as an analytical tool. Therefore, you should not consider it in isolation or as a substitute for analysis of our results as reported under GAAP. Because of these limitations, you should consider Non-GAAP measurements alongside other financial performance measures, including attributable to other GAAP measures. In evaluating Non-GAAP measures you should be aware that in the future, we may incur expenses that are the same as, or similar to, some of the adjustments reflected in this press release. Our presentation of Non-GAAP should not be construed to imply that our future results will be unaffected by the types of items excluded from the calculations of Non-GAAP measures. Non-GAAP is not presented in accordance with GAAP and the use of these terms vary from others in our industry.
Conference Call May 15, 2025 at 4:30 p.m. ET
Management will host a conference call on Thursday May 15, 2025 at 4:30 p.m. ET to review financial results and provide an update on corporate developments. Following management’s formal remarks, there will be a question-and-answer session.
Please note that registered participants will receive their call-in number upon registration.
Those without internet access or unable to pre-register may call in by calling:
PARTICIPANT CALL IN (TOLL FREE): 1-844-739-3880
PARTICIPANT INTERNATIONAL CALL IN: 1-412-317-5716
Please ask to join the Beam Global call.
About Beam Global Beam Global is a clean technology innovator which develops and manufactures sustainable infrastructure products and technologies. We operate at the nexus of clean energy and transportation with a focus on sustainable energy infrastructure, rapidly deployed and scalable EV charging solutions, safe energy storage and vital energy security. With operations in the U.S. and Europe, Beam Global develops, patents, designs, engineers and manufactures unique and advanced clean technology solutions that power transportation, provide secure sources of electricity, save time and money and protect the environment. Beam Global is headquartered in San Diego, CA with facilities in Broadview, IL and Belgrade and Kraljevo, Serbia. Beam Global is listed on Nasdaq under the symbol BEEM. For more information visit BeamForAll.com, LinkedIn, YouTube, Instagram and X (formerly Twitter).
Forward-Looking Statements This Beam Global Press Release may contain forward-looking statements. All statements in this Press Release other than statements of historical facts are forward-looking statements. Forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “project,” “predict,” “believe,” “expect,” “anticipate,” “target,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may,” or other words and similar expressions that convey the uncertainty of future events or results. These statements relate to future events or future results of operations. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, which may cause Beam Global’s actual results to be materially different from these forward-looking statements. Except to the extent required by law, Beam Global expressly disclaims any obligation to update any forward-looking statements.
Accounts receivable, net of allowance for credit losses of $498 and $259
7,145
8,027
Prepaid expenses and other current assets
2,150
2,243
Inventory, net
11,845
12,284
Total current assets
23,644
27,126
Property and equipment, net
13,531
13,704
Operating lease right of use assets
1,650
1,893
Goodwill
-
10,580
Intangible assets, net
7,810
8,037
Deposits
120
119
Total assets
$
46,755
$
61,459
Liabilities and Stockholders' Equity
Current liabilities
Accounts payable
$
8,316
$
8,959
Accrued expenses
2,393
2,462
Sales tax payable
435
195
Deferred revenue, current
1,042
847
Note payable, current
64
63
Contingent consideration, current
93
93
Operating lease liabilities, current
539
696
Total current liabilities
12,882
13,315
Deferred revenue, noncurrent
857
800
Note payable, noncurrent
182
199
Contingent consideration, noncurrent
216
216
Other liabilities, noncurrent
3,432
3,380
Deferred tax liabilities, noncurrent
1,609
1,290
Operating lease liabilities, noncurrent
905
971
Total liabilities
20,083
20,171
Commitments and contingencies (Note 10)
Stockholders' equity
Preferred stock, $0.001 par value, 10,000,000 authorized, none outstanding as of March 31, 2025 and December 31, 2024.
-
-
Common stock, $0.001 par value, 350,000,000 shares authorized, 15,043,045 and 14,835,630 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively.
15
15
Additional paid-in-capital
147,518
147,072
Accumulated deficit
(120,166)
(104,643)
Accumulated Other Comprehensive Income (AOCI)
(695)
(1,156)
Total stockholders' equity
26,672
41,288
Total liabilities and stockholders' equity
$
46,755
$
61,459
Beam Global
Condensed Consolidated Statements of Operations and Comprehensive Loss
(Unaudited, In thousands except per share data)
Three Months Ended
March 31,
2025
2024
Revenues
$
6,324
$
14,561
Cost of revenues
5,823
13,082
Gross profit
501
1,479
Operating expenses
5,265
4,527
Impairment of goodwill
10,780
-
Loss from operations
(15,544)
(3,048)
Other income (expense)
Interest income
23
71
Other income (expense)
4
(56)
Interest expense
(6)
(4)
Other income
21
11
Loss before income tax expense
(15,523)
(3,037)
Net Loss
$
(15,523)
$
(3,037)
Net foreign currency translation benefit (expense)
461
(329)
Total Comprehensive Loss
$
(15,062)
$
(3,366)
Net Loss per share - basic/diluted
$
(1.04)
$
(0.21)
Weighted average shares outstanding - basic/diluted
14,990
14,422
FAQ
What were Beam Global's (BEEM) key financial results for Q1 2025?
Beam Global reported Q1 2025 revenues of $6.3M, with an 8% GAAP gross margin and 21% adjusted non-GAAP gross margin. The company posted a net loss of $15.5M, including $12.5M in non-cash expenses.
Why did Beam Global (BEEM) record a goodwill impairment in Q1 2025?
BEEM recorded a $10.8M goodwill impairment because the company's market capitalization fell below its net assets due to stock price decline since December 31, 2024.
How has Beam Global's (BEEM) revenue composition changed in Q1 2025?
Commercial customers increased to 53% of revenues from 16% in Q1 2024, while international sales grew to 25% of revenue from 11% in the previous year.
What is Beam Global's (BEEM) current cash position and debt status?
As of March 31, 2025, BEEM had $2.5M in cash, remains debt-free, and has access to an unused $100M credit line.
How is Beam Global (BEEM) expanding internationally?
BEEM is expanding through new distribution partnerships in Romania, North Macedonia, and Albania, plus entering the Middle Eastern market through partnership with Solvana.
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