Beam Global - BEEM STOCK NEWS

Beam Global (Nasdaq: BEEM) has secured an order for its Beam AllCell™ energy storage solutions to be used in solar-powered Transport Refrigeration Units (TRUs).

The global Refrigerated Trailer market was valued at USD 4.2 billion in 2023 and is expected to grow to USD 6.3 billion by 2030. Government initiatives and increasing consumer awareness are driving growth in clean technology solutions, particularly in North America and Europe.

California's Clean Off-Road Equipment Voucher Incentive Project (CORE) is encouraging the adoption of zero-emission freight equipment, including TRUs, through economic incentives. Beam Global aims to leverage its patented PCC™ technology to enhance safety and performance, bolstering its revenue growth through the increasing electrification of transportation.

Beam Global (Nasdaq: BEEM) has announced record-breaking Q2 purchase orders of $10.6 million, marking a 128% year-over-year increase. The substantial growth is driven by new and repeat government contracts across multiple U.S. states and a 66% rise in U.S. commercial orders. Additionally, Beam Global shipped its first EV ARC™ systems to Europe for the UK Ministry of Defence, marking a significant expansion into the European market.

Key accomplishments in Q2 include deliveries across numerous U.S. states, new customer wins, and a record production of ARC Mobility™ trailers. The company remains debt-free, maintains sufficient cash reserves, and has an untapped $100 million credit line. Future plans include the launch of new EV charging infrastructure products and expansion into international markets.

Beam Global (NASDAQ: BEEM) announced that the City of Vacaville, California, has deployed three of its EV ARC™ solar-powered EV charging systems for public use. These units were purchased through the California Department of General Services contract, which simplifies the procurement process. This deployment aligns with Vacaville's commitment to sustainability and aims to reduce greenhouse gas emissions. The EV ARC™ systems, which do not require electrical work or utility bills, are off-grid and powered by 100% renewable energy. They can generate and store electricity, providing a reliable power source even during inclement weather and outages. Mayor John Carli emphasized this initiative as a commitment to environmental stewardship. Beam Global CEO Desmond Wheatley highlighted the significance of this public deployment, anticipating a rise in public EV charging needs as California aims for 1.2 million chargers by 2030.

Beam Global announced record-breaking first quarter 2024 results, with revenues reaching $14.6 million, a 12% increase from Q1 2023. Gross profit hit $1.5 million, supported by a 10.2% gross margin. The company secured significant new orders, including $7.4 million from the U.S. Army and $4.8 million from the Department of Homeland Security. Beam Europe contributed to revenue growth following the Amiga acquisition. Despite a net loss of $3.0 million, this marks an improvement from a $3.8 million loss in Q1 2023. The company has a strong pipeline worth over $160 million and remains debt-free with a $100 million credit line available.

Beam Global (Nasdaq: BEEM), a leader in sustainable infrastructure solutions, will release its Q1 2024 operating results on May 20, 2024, post-market close. A conference call is scheduled for May 21, 2024, at 4:30 p.m. ET to discuss these results and provide corporate updates. The call will include a Q&A session. Participants should pre-register via the provided link and dial in 10 minutes before the start time. A webcast archive will be available for one year after the call.

Beam Global, a leading provider of sustainable infrastructure solutions, announced that the Federal Railroad Administration has ordered EV ARC™ solar-powered EV charging systems for federal fleet vehicles at the Transportation Technology Center in Pueblo, CO. The systems are off-grid, generate their own electricity, and have the ability to charge EVs during blackouts, making them a cost-effective and reliable solution for the federal government's fleet electrification efforts.

Beam Global has deployed EV ARC™ solar-powered EV charging systems at the U.S. National Park Service headquarters in Washington, D.C. The systems were purchased through a federal procurement process, providing clean electricity and reducing costs for the government. The deployment aligns with the federal goal of 100% zero-emission vehicle acquisitions by 2035.

Beam Global, the leading provider of sustainable infrastructure solutions for transportation and energy security, reported record full-year revenues of $67.4 million, a 206% increase year over year. The company achieved positive full-year gross profit, a debt-free status with a $100 million line of credit available, and a current pipeline of $150 million. Beam Global also secured significant government contracts, expanded its global patent portfolio, and enhanced its leadership team. The company's CEO highlighted operational successes, geographic expansions, and product developments, setting the stage for continued growth in 2024.

Beam Global, a leading provider of sustainable infrastructure solutions, will release its 2023 operating results on April 17, 2024. A conference call will be held to discuss financial results and corporate updates.