BEAM GLOBAL Stock Price, News & Analysis

Beam Global (Nasdaq: BEEM, BEEMW) announced a significant multi-million dollar battery module order from a leading material handling company, highlighting the increasing demand for their innovative energy storage solutions. The battery modules incorporate Beam’s patented thermal management technology, resulting in enhanced safety and efficiency. CEO Desmond Wheatley emphasized the importance of electrification and robotics in streamlining supply chains and enhancing safety. The use of Beam AllCell energy storage solutions is well-suited for industrial automation trends, addressing the growing need for cleaner and more efficient operations. This development not only aligns with the company's goals but also signifies continued growth prospects within the clean energy sector.

Beam Global (Nasdaq: BEEM, BEEMW) reported record financial results for the year ending December 31, 2022, achieving revenues of $22 million, marking a 144% increase year-over-year. The fourth quarter saw revenues of $7.9 million, a 126% rise from the previous year. Key highlights included record annual orders of $76 million (up 548% year-over-year) and substantial growth in orders from both commercial (up 1190%) and government sectors (up 489%). Additionally, the company secured a $100 million credit facility and acquired All Cell Technologies to enhance battery supply and reduce costs.

Beam Global has secured a non-dilutive credit facility with OCI Group to support its rapid growth, particularly following $62 million in recent purchase orders. The credit line, effective immediately, offers flexibility without diluting shareholder equity, priced at SOFR plus 300 basis points. CEO Desmond Wheatley emphasized the disciplined cash management strategy and plans for international expansion, especially into the European market. Beam's revenues grew from $6.2 million in 2020 to $14.1 million in the first nine months of 2022, with about 10 million shares outstanding and no debt.

Beam Global (Nasdaq: BEEM, BEEMW) announced it will report its FY 2022 financial results on March 29, 2023, at 4:30 p.m. ET. The conference call will provide insights into the company's performance and future developments. Beam is recognized for its innovative sustainable products and technologies for electric vehicle (EV) charging, energy storage, and outdoor media. The event will include a Q&A session post-presentation, ensuring investor engagement.

Beam Global aims to lead the clean mobility sector with products like the Beam EV ARC™ and Solar Tree® systems, showcasing their commitment to sustainability.

Beam Global, listed on Nasdaq under the symbols BEEM and BEEMW, will participate in the 35th Annual ROTH Conference from March 12-14, 2023, at The Ritz Carlton, Laguna Niguel, CA. CEO Desmond Wheatley is set to engage in one-on-one meetings with investors and analysts. Attendees are encouraged to schedule meetings through a ROTH representative or the conference platform. Beam Global specializes in sustainable technologies for electric vehicle (EV) charging, energy storage, and energy security. Their innovative solutions, including Beam EV ARC™ and Solar Tree®, aim to lead the world to clean mobility.