Core Insights - Beam Global has successfully sold its first EV ARC™ systems in Romania, marking a significant step in the country's transition to renewable energy in line with EU climate goals [1][2] - Romania aims for 34% renewable energy production by 2030, prioritizing clean transportation solutions, which aligns with Beam Global's offerings [2] - The sales were facilitated by Seltis Glass Design SRL, a local reseller with a successful history in selling infrastructure products, demonstrating Beam Global's effective strategy of leveraging local partnerships [3] Company Overview - Beam Global is a clean technology innovator focused on sustainable infrastructure products and technologies, operating in the nexus of clean energy and transportation [6] - The company develops and manufactures scalable EV charging solutions, energy storage, and energy security products, with operations in the U.S. and Europe [6] - Beam Global has been recognized for its innovative contributions to clean mobility and energy efficiency, receiving an award at the 2025 Congress of Mayors in Romania [4][5] Market Context - Romania is experiencing rapid economic growth and significant investment in electrification and sustainable energy infrastructure, creating a favorable environment for Beam Global's products [5] - The company's strategy of geographic expansion through local resellers allows for increased sales without significant investment, which is crucial for growth in emerging markets [5]

Beam Global (BEEM) reported an adjusted loss of 31 cents per share in the fourth quarter of 2024, wider than the Zacks Consensus Estimate of a loss of 23 cents. The company had incurred a loss of 51 cents per share in the year-ago quarter. The company reported net sales of $8 million in the quarter, which missed the Zacks Consensus Estimate of $15 million and fell from the year-ago quarter’s $20 million.See the Zacks Earnings Calendar to stay ahead of market-making news.Revenues in the fourth quarter of 202 ...

Financial Data and Key Metrics Changes - The third quarter revenues were $11.5 million, marking the second highest third quarter revenues in the company's history, with 47.9% derived from commercial customers, an increase of 80% compared to Q3 2023 [6][13] - For the nine months ending September 30, 2024, revenues totaled $41 million, with a backlog of $10.6 million as of November 7, 2024 [6][7] - GAAP gross margin improved to 10.7% from 1.7% in 2023, with non-GAAP gross margin reaching 17.6% after adjusting for non-cash items [7][8] - The net income for Q3 2024 was $1.3 million, compared to a net loss of $3.6 million in the same period in 2023 [13] - The cash balance decreased to $4.9 million from $10.4 million at the end of Q4 2023, primarily due to acquisition-related cash outlays [15] Business Line Data and Key Metrics Changes - The gross profit for the nine months ending September 30, 2024, was 12% of sales, with non-GAAP gross profit net of non-cash items at 18.3% [8] - The company experienced a significant increase in gross margin due to engineering design changes and cost reductions in materials and labor efficiencies [9][10] Market Data and Key Metrics Changes - The company has grown its pipeline of prospective customers to over $200 million, an all-time high, although the timing of actual sales remains uncertain [6][23] - The company noted a slowdown in orders from federal customers due to uncertainty surrounding the new administration's policies on electric vehicles [25][26] Company Strategy and Development Direction - The company is focusing on geographic expansion and new product offerings to capitalize on a broader range of opportunities, both domestically and internationally [20][37] - A new strategy involves adding resellers and distributors to broaden the sales funnel, moving away from reliance on a small in-house sales team [39][122] - The company is also working on improving its product offerings and reducing operating costs through acquisitions and operational efficiencies [62] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence that the current revenue decline is temporary and attributed it to order timing and regulatory uncertainties rather than a fundamental decline in demand [22][24] - The electrification of transportation and the need for renewable energy are expected to drive future growth, with significant investments anticipated in both the U.S. and Europe [22][35] - Management highlighted the importance of obtaining new certifications to meet evolving regulatory requirements, which is expected to unlock pent-up demand once achieved [29][113] Other Important Information - The company announced a sponsorship deal with Vinci Group to deploy EV arc systems at Belgrade International Airport, marking a new business model for revenue generation [48][51] - The acquisition of Telcom is expected to enhance the company's manufacturing capabilities and reduce costs associated with third-party components [60][62] Q&A Session Summary Question: Is there more government funding available for EV charging infrastructure in Europe compared to the U.S.? - Management indicated that while uncertainty exists in the U.S., Europe is expected to see significant government spending on electrification, with a strong push towards EV adoption [105][108] Question: Are there similar certification challenges in Europe as with UL in the U.S.? - Management confirmed that evolving regulations and certification processes are present in Europe, but efforts made for UL certification will aid in meeting CE requirements [110][112] Question: What is the next focus for maintaining business momentum? - The focus is on adding resellers, distributors, and agents to expand the sales force and reach a larger audience, moving beyond the current small sales team [121][122]

EV Charging Infrastructure - Beam's EV charging infrastructure products are powered by renewable energy and provide services in locations where grid connection is expensive or impossible[18]. - Beam's EV ARC™ product is the world's first transportable, solar-powered EV charging infrastructure that can charge between one and six EVs simultaneously and can be set up in less than an hour[30]. - Beam's products are designed to operate during grid outages, providing emergency power and EV charging without relying on the utility grid[32]. - The company aims to address the increasing demand for rapidly deployable EV charging infrastructure that does not require construction or electrical work[30]. - Beam's products provide a hedge against grid failures, with 25% of all EV charging infrastructure suggested to be independent of the centralized grid[37]. - The introduction of BeamBike™, capable of charging 12 electric bicycles simultaneously, supports the electrification of transportation without requiring utility connections[54]. - BeamPatrol™ can charge 4 electric motorcycles simultaneously and targets law enforcement agencies, creating significant sales opportunities[55]. - BeamSpot™ provides street lighting and curbside EV charging without extensive construction, ideal for municipalities and large parking areas[56]. - BeamWell™ is designed for rapid deployment in disaster areas, providing essential services like electricity and clean water within an hour[57]. - The company has expanded sales of EV ARC™ systems to 41 states and three international countries, with significant contracts from the U.S. Federal Government and the State of California[44]. Market Growth and Trends - The global lithium-ion battery market is projected to grow from $130 billion in 2024 to $350 billion by 2033, with a CAGR of 12%[34]. - The electric vehicle infrastructure market is projected to reach $224.8 billion by 2032, with a CAGR of 27.5% from 2024 to 2032[64]. - The EU's mandate for zero-emission vehicles by 2035 is expected to drive demand for Beam's EV charging infrastructure products[182]. Acquisitions and Expansion - Beam acquired Amiga DOO Kraljevo in October 2023, enhancing manufacturing capabilities for steel structures in Europe, targeting municipalities and government entities[38][45]. - Beam acquired Telcom d.o.o. Beograd in August 2024, focusing on power electronics and telecommunications equipment, expanding product opportunities in Europe[39][46]. - The acquisition of Amiga in 2023 positions the company as one of the largest streetlight manufacturers in Europe, enhancing its product portfolio[59]. - Beam's growth strategy includes geographic expansion into Europe, the Middle East, and Africa, with successful sales to the British Army and deployments at Belgrade International Airport[50]. Financial Performance - Beam's revenue for the year ending December 31, 2024, was $49.3 million, a decrease from $67.4 million in 2023, but a 124% increase from $22.0 million in 2022[179]. - The gross profit for 2024 was $7.3 million, compared to $1.2 million in 2023, with a gross margin of 14.8%, up thirteen percentage points from the previous year[186]. - Major contracts with the State of California and GSA accounted for 58% and 77% of revenues in 2024 and 2023, respectively[72]. - The company's backlog decreased from $21.7 million in 2023 to $5.6 million in 2024, indicating a significant reduction in future revenue commitments[96]. - In 2024, 62% of the company's revenue came from federal, state, and local governments, down from 80% in 2023[95]. - The company reported net losses of $11.3 million in 2024, compared to $16.1 million in 2023, contributing to an accumulated deficit of $104.6 million as of December 31, 2024[100]. Operational Challenges - The company may need additional financing to fund operations and working capital, with no guarantee of favorable terms[101]. - The company faces intense competition in the solar renewable energy and EV charging industries, with competitors having greater resources[114]. - The company is dependent on revenues from its EV ARC™ products and energy storage products following acquisitions, with no assurance of continued market acceptance[115]. - The company may encounter difficulties in integrating acquired businesses, which could adversely affect its operations and financial results[106]. - The company faces potential demand reduction for solar power products due to existing and changing regulations, which may create economic barriers[122]. - The company is exposed to product liability claims, which could result in significant costs and damage to reputation if successful[126]. Internal Controls and Compliance - A material weakness in internal controls over financial reporting has been identified, which could impact the accuracy and timeliness of financial reporting[152]. - The company has identified material weaknesses in internal controls as of December 31, 2023, which continued to exist as of December 31, 2024[214]. - The company is undertaking an action plan to strengthen internal controls and procedures to address the identified material weaknesses[216]. - Internal control systems have inherent limitations and may not prevent or detect misstatements[212]. Customer Segments and Sales Strategy - The company aims to diversify its customer segments, targeting state, municipal, and federal governments, corporations, and universities[43]. - In 2024, over 30% of sales were from non-government customers, indicating a strategic shift towards corporate clients[62]. - The company has engaged outside sales resources to enhance its sales strategy, aiming to increase revenues while maintaining low operational costs[65]. Product Development and Innovation - Beam's energy storage solutions utilize proprietary technology to enhance safety and performance, preventing thermal events and extending battery life[34]. - Beam's products are designed to be environmentally sound, providing 100% emissions-free electricity, unlike grid-tied chargers that rely on fossil fuel-generated electricity[91]. - BeamTrak™, the company's patented solar tracking solution, can generate up to 25% more electricity than fixed arrays, enhancing the efficiency of their products[91]. - The BeamSpot™ product combines streetlight infrastructure with solar, wind, and energy storage for curbside charging and emergency power[173]. Risks and Uncertainties - The company expects to generate an increasing portion of its revenue internationally, which may expose it to additional risks[111]. - The company is subject to foreign currency exchange rate risks due to acquisitions in Serbia, impacting its financial condition[113]. - The company may face increased costs and supply restrictions due to tariffs imposed on imported solar cells and modules[117]. - The availability of financial incentives, such as tax credits, is crucial for demand; any reduction or uncertainty could significantly impact sales[143].

Revenue Performance - Revenues for 2024 were $49.3 million, more than double any previous year's revenue in the company's history excluding 2023, with a five-year revenue CAGR of 68%[5] - Revenues from non-government commercial entities increased by 229% from 2023 to 2024, accounting for 38% of total revenues in 2024[7] - GAAP total revenue for 2024 was $49,336 million, a decrease of 26.7% from $67,353 million in 2023[23] Profitability and Margins - Gross profit was $7.3 million, representing a gross margin of 15%, an improvement of 13 percentage points over 2023[8] - GAAP gross profit increased to $7,296 million in 2024 from $1,204 million in 2023, reflecting a significant improvement[23] - Non-GAAP gross profit for 2024 was $10,451 million, compared to $2,174 million in 2023, resulting in a gross margin of 21%[25] - The company reported a gross margin improvement from 3% in 2023 to 21% in 2024, indicating better cost management[25] Operational Efficiency - Net cash used in operations for 2024 was $2.2 million, a significant decrease from $13.3 million in 2023[11] - Loss from operations decreased to $11.7 million in 2024, compared to $16.3 million in 2023, reflecting improved gross profit and management of operating expenses[10] - Non-GAAP loss from operations decreased to $8,905 million in 2024 from $11,775 million in 2023[25] - Operating expenses increased to $19.0 million in 2024, primarily due to a full year of expenses from the Serbian acquisition[9] - Operating expenses for 2024 were $18,953 million, up from $17,465 million in 2023[23] Financial Position - The company maintained a backlog of $5.6 million as of December 31, 2024, and remains debt-free with a $100 million line of credit available and unused[5] - The net loss for 2024 was $11,282 million, an improvement from a net loss of $16,060 million in 2023[23] - Total comprehensive loss for 2024 was $13,063 million, compared to $15,436 million in 2023, indicating a reduction in overall losses[23] - Interest income decreased to $205 million in 2024 from $261 million in 2023[23] Product Development and Market Expansion - The company launched four new products: BeamSpot™, BeamBike™, BeamPatrol™, and BeamWell™[5] - Beam Global expanded its geographic reach into Middle Eastern and African markets through reselling partnerships[5] - The company achieved CE certification and compliance with the Build America, Buy America Act for its EV ARC™ systems[5] Shareholder Information - The weighted average shares outstanding increased to 14,621 million in 2024 from 12,345 million in 2023[23]

Financial Highlights - Revenues for 2024 were $49.3 million, more than double any previous year's revenue in the company's history excluding 2023, but a decrease from $67.4 million in 2023 [4][6] - The five-year revenue CAGR is 68% [4] - Revenues from non-government commercial entities increased by 229% from 2023 to 2024, accounting for 38% of total revenues in 2024 [4][6] - Positive full-year gross margins of 15%, an improvement of 13 percentage points over 2023 [4][7] - Adjusted non-GAAP gross margins were 21% [4][7] - Net cash used in operations for 2024 was $2.2 million, a significant decrease from $13.3 million in 2023 [4][11] - The company remains debt-free with a $100 million line of credit available and unused [4][5] Operational Highlights - The backlog as of December 31, 2024, was $5.6 million [4] - The company launched four new products: BeamSpot™, BeamBike™, BeamPatrol™, and BeamWell™ [4] - Achieved CE certification and compliance with the Build America, Buy America (BABA) Act for EV ARC™ [4] - Expanded into Middle Eastern and African markets through reselling partnerships [4] - Enhanced leadership team with key appointments in operations and sales [4] Strategic Developments - Acquired Serbia-based Telcom, providing in-house production capabilities for power electronics [4] - Received significant orders from the U.S. Army ($7.4 million) and the U.S. Department of Homeland Security ($4.8 million) for EV ARC systems [4] - Expanded global patent portfolio with new patents awarded for thermal management technology and wireless electric vehicle charging [9] Management Commentary - The CEO highlighted 2024 as a year of tremendous expansion, introducing more new products in the last quarter than in the previous decade [5] - The company is positioned for growth in 2025 due to geographic and product portfolio expansions despite political and economic uncertainties [5]

Core Viewpoint - Beam Global will report its 2024 operating results on April 11, 2025, and will host a conference call to discuss the financial results and corporate developments [1]. Group 1: Conference Call Details - The conference call is scheduled for April 11, 2025, at 4:30 p.m. Eastern Time [2]. - Callers are required to pre-register for the call using the provided link and should dial in approximately 10 minutes before the start time [2]. Group 2: Company Overview - Beam Global is a clean technology innovator focused on sustainable infrastructure products and technologies, particularly in the electrification of transportation and energy security [3]. - The company operates in the U.S. and Europe, developing and manufacturing advanced clean technology solutions that enhance transportation, provide secure electricity sources, and promote environmental protection [3]. - Beam Global is headquartered in San Diego, California, with additional facilities in Chicago, Illinois, and Serbia [3].

Core Viewpoint - Beam Global, a provider of sustainable infrastructure solutions for electrification and energy security, will report its 2024 operating results on April 11, 2025, after market close [1] Group 1: Conference Call Details - The conference call to discuss financial results will take place on April 11, 2025, at 4:30 p.m. ET [2] - Callers are required to pre-register for the call using a provided link and should dial in approximately 10 minutes before the scheduled start time [2] Group 2: Company Overview - Beam Global is a clean technology innovator focused on sustainable energy infrastructure, EV charging solutions, energy storage, and energy security [4] - The company operates in the U.S. and Europe, developing and manufacturing advanced clean technology solutions [4] - Beam Global is headquartered in San Diego, CA, with additional facilities in Chicago, IL, and Serbia [4]

Core Insights - Beam Global has formed a strategic partnership with Solvana to enhance its presence in the MENA region, focusing on renewable energy, storage, and water treatment solutions [1][3][5] - The partnership aims to deliver BeamWell™ products to Jordan, providing solar-powered electricity, clean drinking water, and e-mobility solutions for humanitarian assistance in Gaza [2][6] - The MENA region is projected to attract $1 trillion in renewable energy investments by 2030, with the electric vehicle market expected to reach approximately $52.24 billion by 2030, growing at a CAGR of 39.7% from 2025 to 2030 [5] Company Overview - Beam Global is a clean technology innovator focused on sustainable infrastructure products, including EV charging solutions and energy security technologies [8][9] - Solvana, a subsidiary of Greentech LLC, specializes in providing energy and water solutions in the MENA region, particularly in crisis situations [10] Leadership and Expertise - Solvana is led by Dr. Wissam Rabadi and Dr. Basim Saleh, who bring significant regional expertise and connections, positioning the company as a key partner for Beam Global [4][6] Market Opportunities - The partnership is set to leverage investment in off-grid infrastructure and the EV market across the MENA region, addressing the unique needs of local communities [6][7]

Core Insights - Beam Global and Zero Motorcycles are collaborating to showcase innovative electric motorcycle solutions for various sectors including military and law enforcement [1][2][3] - The demonstrations will take place at significant events such as MotoGP in Austin, Texas, and TEVCON in San Diego, California [2][4] - The BeamPatrol™ product bundle will feature Zero Motorcycles DSR/X models, emphasizing sustainability and performance [2][3] Company Overview - Beam Global is a clean technology innovator focused on sustainable infrastructure and energy security, headquartered in San Diego, CA [5] - Zero Motorcycles is recognized as the global leader in electric motorcycles, combining advanced technology with traditional motorcycle design [7] Event Details - Demonstrations will allow attendees to experience high-performance electric motorcycles and sustainable charging infrastructure [1][2] - The events aim to promote the benefits of electric vehicles, including performance, zero emissions, and cost savings [4]