Beam Global Stock Price, News & Analysis

Beam Global reported Q3 2024 results with revenues of $11.5M, representing a 22% decrease from Q2 2024. The company achieved its highest Q3 gross margin ever at 10.7%, a 9 percentage point increase over Q3 2023. Commercial customers contributed 47.9% of revenue, an 80% increase from Q3 2023. The company maintains a record pipeline of over $200M and a backlog of $7M. Notable operational highlights include the acquisition of Telcom for in-house power electronics production, launch of four new products, and expansion into European markets. The company remains debt-free with an unused $100M credit line and $4.9M cash on hand.

Beam Global (Nasdaq: BEEM) announced it will release its Q3 2024 financial results on November 15, 2024, after market close. The company will host a conference call at 4:30 p.m. ET the same day to discuss the results and provide corporate development updates. The call will include management remarks followed by a Q&A session. Participants can join via toll-free number 1-844-739-3880 or international number 1-412-317-5716, with pre-registration available through a provided link. A webcast archive will be accessible for one year following the call.

Beam Global (BEEM) has announced its first sponsorship deal with Globos Osiguranje to deploy five EV ARC™ solar-powered charging stations at Belgrade Nikola Tesla Airport. This three-way partnership, including VINCI Airports, marks Beam's entry into an owner-operator business model, generating recurring revenue through long-term sponsorship payments. The charging stations, located in the P1 Prime car park nearest to the terminal, provide free public EV charging without utility costs or construction requirements. This model enables Beam to secure favorable economic terms on parking spaces while maintaining ownership of the systems, creating a sustainable revenue stream without typical operating costs.

Beam Global (NASDAQ: BEEM) has launched BeamPatrol™, a self-contained law enforcement solution combining electric motorcycles from Zero Motorcycles with off-grid charging infrastructure. The system includes four chargers and four electric motorcycles, powered by 100% renewable energy. BeamPatrol™ stations deploy rapidly without requiring construction or electrical work, featuring onboard battery storage for 24/7 operation. The solution targets law enforcement, customs, military, and security operations, offering silent operation capabilities and reduced maintenance costs. Based on Beam's EV ARC™ technology, the system can be relocated as needed and operates independently of the grid.

Beam Global (BEEM) has received its first order for BeamSpot™ curbside EV chargers from a Fortune 500 utility company. Multiple corporate offices will each install three BeamSpot™ systems, which combine solar, wind, and utility-generated electricity stored in proprietary integrated batteries. The system provides street lighting and EV charging while integrating with existing streetlight infrastructure.

The BeamSpot™ solution offers higher charging capacity than traditional streetlight charging solutions and continues operating during grid failures. This off-grid-capable system requires no complex construction or utility upgrades, targeting urban areas, residential neighborhoods, parking lots, and public venues.

Beam Global (Nasdaq: BEEM) has appointed Andy Lovsted as Vice President of Sales to lead the company's expansion in EV infrastructure and energy security markets. Lovsted brings over 20 years of executive leadership experience, most recently serving as VP of Sales at Nice North America , where he managed partnerships worth approximately $500M in annual revenue. His expertise includes transportation, storage, and security technologies. At Beam Global, he will focus on optimizing internal team capabilities and expanding distribution networks through agents, resellers, and distributors.

Beam Global (Nasdaq: BEEM) has launched the BeamWell™ water desalination and e-mobility delivery system, designed to address critical needs in humanitarian crisis zones. The system, based on the patented EV ARC™ technology, provides three essential services:

1. Turns seawater into fresh water, storing 3000 liters daily
2. Generates electricity for medical devices, communications, cooking, and lighting
3. Charges four integrated Benzina Zero electric mopeds for aid distribution

The BeamWell™ system is self-contained, rapidly deployable, and requires no supporting infrastructure. Beam Global is finalizing deployment plans, with the first systems expected to be delivered to the Middle East through global aid organizations to address urgent needs in conflict-affected regions.

Beam Global (NASDAQ: BEEM), a provider of sustainable infrastructure solutions for transportation electrification and energy security, has announced its participation in the 17th annual LD Micro Main Event. Desmond Wheatley will represent the company, presenting on Tuesday, October 29th at 11:00 AM PT at the Luxe Sunset Boulevard Hotel in Los Angeles.

The event, running from October 28th to 30th, will feature approximately 150 companies presenting in half-hour increments and attending private investor meetings. Mr. Wheatley will be available for one-on-one meetings with registered investors. Interested parties can schedule meetings through CORE IR or the LD Micro Conference online platform.

Chris Lahiji, Founder of LD Micro, emphasized the event's significance in the small and micro-cap industry, describing it as essential and groundbreaking for the future.

Beam Global (Nasdaq: BEEM) has announced its entry into the Ethiopian market, marking its first move to support Africa's electrification efforts. The company has appointed Princess Leila Bon Abajobir Abajifar and Princess Zyeneb Abajobir Abajifar as agent partners to assist in entering Ethiopia and broader African markets. This strategic move aligns with Ethiopia's recent ban on importing internal combustion engine vehicles and its rapid adoption of EVs, which has already met a 10-year target of 148,000 EVs in just two years.

Beam Global aims to provide innovative and sustainable infrastructure solutions for transportation electrification and energy security in Ethiopia. The company is pursuing a collaborative partnership with the Ethiopian government to encourage investment in off-grid infrastructure and support EV market growth. Beam Global's solutions, which have been successful in 17 nations worldwide, are expected to help meet Ethiopia's growing EV needs, reduce fossil fuel reliance, and enhance energy security.