Beam Global Stock Price, News & Analysis

Beam Global (Nasdaq: BEEM, BEEMW) reported strong growth in repeat, multiple-unit, and enterprise customer orders in Q2 2022, indicating robust market momentum for its EV ARC™ sustainable EV charging systems. CEO Desmond Wheatley highlighted a solid mix of new orders, with nearly 40% from non-government customers. The company has expanded its deployments to 31 states, including new locations in New Jersey and Illinois. EV ARC™ systems are off-grid, eliminating the need for permits, electrical work, and utility bills, allowing continued charging during outages.

Beam Global (Nasdaq: BEEM, BEEMW) reported a record revenue of $3.8 million for Q1 2022, a 175% increase from Q1 2021. System deliveries surged by 250%, while the gross loss decreased by 3% points despite inflationary pressures. The company's pipeline reached over $100 million, bolstered by a $2.4 million order from SparkCharge and a follow-on order from the California Department of General Services. Beam's acquisition of All Cell Technologies is expected to enhance battery supply and reduce costs. The company remains optimistic about continued growth throughout 2022.

Beam Global, leading provider of sustainable electric vehicle (EV) charging solutions, will report its Fiscal First Quarter 2022 financial results on May 24, 2022. A conference call is scheduled for May 25, 2022, at 4:30 p.m. ET to discuss the results and corporate developments. Beam is dedicated to clean mobility innovations, including EV ARC™ and Solar Tree® systems, and AllCell™ energy storage solutions. The company emphasizes its commitment to producing Made-in-America products to foster environmental sustainability.

Beam Global (Nasdaq: BEEM, BEEMW) announced a follow-on order from the California Department of General Services for 23 EV ARC™ sustainable EV charging systems in Q1 2022. The systems are designed for fleet EV charging, enhancing energy resiliency and disaster preparedness for government entities. This follows a record year of deliveries in 2021, with Q1 2022 showing continued momentum. The company anticipates more growth from federal contracts and California's $22.5 billion climate initiatives budget, which allocates $6.1 billion to EV-related projects.

Beam Global (Nasdaq: BEEM, BEEMW) reports record system deliveries in Q1 2022, marking the largest number in any first quarter in its history. This achievement follows a strong fourth quarter of 2021.

CEO Desmond Wheatley highlighted the company's continued growth momentum, driven by investments in sales and operations. The company also sees increasing demand from government and enterprise customers related to Net Zero Emission initiatives, supported by federal and state policies, including California's commitment to ban new gas-powered vehicles by 2035.

Beam Global has been awarded a Federal Blanket Purchase Agreement by the U.S. General Services Administration for the purchase of Electric Vehicle Supply Equipment (EVSE). This agreement allows federal agencies to procure EV ARC™ systems easily, promoting the electrification of the federal fleet. With approximately 657,500 federal vehicles generating significant greenhouse gas emissions, the initiative aligns with government goals for 100% zero-emission vehicle acquisitions by 2035. The awarding highlights Beam's role in reducing emissions and supports sustainable infrastructure development.

Beam Global (Nasdaq: BEEM, BEEMW) reported record revenues of $9.0 million for FY 2021, a 45% increase from FY 2020. Key highlights include a 134% growth in new orders and 67% growth in system deliveries. The company acquired AllCell Technologies, enhancing its position in energy storage. Despite a gross loss of $971,644 for the year, operating expenses decreased as a percentage of revenue. Cash stood at $21.9 million at year-end. The CEO expressed optimism for continued positive trends into 2022, citing increased EV spending.

Beam Global, a leader in sustainable technology for electric vehicle (EV) charging, announced that CEO Desmond Wheatley will speak at the 2022 Virtual Growth Conference from March 28-30. Wheatley will participate in a panel titled 'Customer Views on EV Adoption' on March 29 from 2:00 - 3:00 p.m. EDT. He emphasized the company's growth and recent acquisition during the announcement, highlighting the importance of keeping investors informed. The conference will feature various industry leaders and is accessible to M-Vest members.

Beam Global (Nasdaq: BEEM, BEEMW) will report its Fiscal Year 2021 financial results on March 30, 2022, after market close. A conference call will be held at 4:30 p.m. ET for management to discuss results and corporate updates, followed by a Q&A session. The call can be accessed via dial-in numbers provided in the release. Beam Global specializes in sustainable products and technologies for electric vehicle (EV) charging and energy solutions, with a commitment to innovation and environmental stewardship.