Beam Global Stock Price, News & Analysis

Beam Global (BEEM, BEEMW) announced an order from the General Services Administration (GSA) for 140 EV ARC™ off-grid charging systems for the U.S. Department of Veterans Affairs (VA). These systems will be deployed at 34 locations across 12 states, supporting VA's transition to a zero-emission fleet in line with Executive Order 14057. The EV ARC™ systems provide renewable energy charging and can power vital equipment during outages. Beam anticipates continued growth in federal sector sales as sustainability initiatives gain traction.

Beam Global (Nasdaq: BEEM, BEEMW) announced that TechFlow Inc. selected its EV ARC™ systems for a 367-unit project awarded by the U.S. Army Material Command. These charging systems will be deployed across 50 locations in 28 states and Puerto Rico, aligning with the federal goal of achieving a 100% zero-emission vehicle fleet by 2035. Each EV ARC™ unit creates and stores its own renewable energy, enabling off-grid charging. This initiative aims to enhance EV infrastructure for the federal fleet, which has seen a significant increase in electric vehicle acquisitions.

Beam Global (Nasdaq: BEEM, BEEMW) has secured a 71-unit order from New York City for its EV ARC™ solar-powered EV charging systems, raising the city's fleet to 160 units. This marks the seventh order from NYC, emphasizing its leadership in sustainable EV infrastructure. The EV ARC™ systems are designed to withstand extreme weather and provide emergency power during outages, offering significant utility and cost savings for municipal budgets. NYC has surpassed its 2025 goal with over 4,050 electric vehicles deployed, contributing to a 19% reduction in greenhouse gas emissions since 2005.

Beam Global (Nasdaq: BEEM, BEEMW) announced an order from the U.S. Department of Homeland Security for 32 Beam EV ARC™ off-grid charging systems and 3 ARC Mobility™ trailers. The systems will support federal agencies including Customs Border Patrol and FEMA, deployed across eight locations, including Puerto Rico. This aligns with Executive Order 14057, which emphasizes federal investment in sustainable infrastructure for EV charging powered by renewable energy. The order, made through GSA Contract 47QSWA21D0006, underscores Beam's commitment to resilient and sustainable energy solutions.

Beam Global (Nasdaq: BEEM, BEEMW) reported record quarterly revenues of $6.6 million for Q3 2022, a 227% increase year-over-year. The company experienced a surge in orders for its EV ARC™ systems, with a total of 367 systems sold in just three months. Notable contracts include a $29.4 million order from the U.S. Army and a $11.6 million order for the Veterans Affairs. However, operating expenses increased significantly to $6.5 million. The company had cash reserves of $4.7 million as of September 30, 2022.

Beam Global (Nasdaq: BEEM, BEEMW) will release its Fiscal Third Quarter 2022 financial results on November 10, 2022. The company specializes in sustainable EV charging, energy storage, and outdoor media technologies. Following the earnings announcement, management will conduct a conference call at 4:30 p.m. ET to discuss the results and corporate developments. Participants are urged to pre-register for the call. Beam Global emphasizes its mission to lead the world to clean mobility through innovative and made-in-America solutions.

Beam Global (Nasdaq: BEEM, BEEMW) announced that the U.S. Marine Corps has placed multiple orders for its EV ARC™ off-grid EV charging systems and ARC Mobility™ trailers. These systems will support fleet charging at locations in Hawaii, North Carolina, and Washington DC, fulfilling requirements under Executive Order 14057 for zero-emission vehicle acquisitions by 2027. The EV ARC™ systems are solar-powered, allowing simultaneous charging of two vehicles without construction or utility connections, enhancing energy security during emergencies.

Beam Global (Nasdaq: BEEM, BEEMW) announced multiple orders from the Naval Facilities Engineering Systems Command (NAVFAC) for its EV ARC™ sustainable off-grid charging systems, aimed at fleet charging across Florida, Hawaii, Louisiana, Mississippi, and Texas. The Federal Sustainability Plan requires all light-duty vehicle acquisitions to be electric by 2027, with federal EV purchases rising to 12% in fiscal 2022 from under 1% in 2021. The EV ARC systems are off-grid, powered by renewable energy, and designed for rapid deployment without construction or utility connections, supporting two vehicles simultaneously.

Beam Global (Nasdaq: BEEM, BEEMW) reports continued demand for its solar-powered EV ARC™ systems, with orders from various California State Agencies in 2022. These off-grid systems reduce costs by eliminating the need for construction and utility bills. Over 75% of the orders were multi-unit, with all systems featuring an Emergency Power Panel for first responders. The California government’s investment in EV infrastructure and commitment to sustainable transportation bodes well for future sales. Beam’s long-standing DGS contract simplifies procurement for other governmental entities, enhancing market access.