Beam Global (NASDAQ:BEEM) Q2 2023 Earnings Conference Call August 14, 2023 4:20 AM ET Company Participants Kathy McDermott - Chief Financial Officer Desmond Wheatley - Chairman, Chief Executive Officer & President Conference Call Participants Craig Irwin - ROTH MKM Christopher Souther - B.Riley Tate Sullivan - Maxim Group Christopher Pierce - Needham & Company Noel Parks - Tuohy Brothers Investment Research Operator Good day and welcome to the Beam Global Second Quarter 2023 Financial Results and Corporate ...

11. STOCKHOLDERS' EQUITY Stock Options | --- | --- | |-----------------------------|----------------------------------------| | | Six months ended June 30, 2023 | | Expected volatility | 91.6% - 94.5% | | Expected term | 6.5 - 7 Years | | Risk-free interest rate | 3.55% - 3.77% | | Weighted-average FV | $11.74 | In November 2022, the Company granted 142,500 restricted stock units ("RSUs") and up to 142,500 performance stock units ("PSU") to its Chief Executive Officer ("CEO"). 50% of the RSUs vested upon gr ...

Beam Global (NASDAQ:BEEM) Q1 2023 Earnings Conference Call May 15, 2023 4:30 PM ET Company Participants Kathy McDermott - Chief Financial Officer Desmond Wheatley - Chairman, Chief Executive Officer & President Conference Call Participants Tyler DiMatteo - BTIG Christopher Souther - B.Riley Noel Parks - Tuohy Brothers Investment Research Abhishek Sinha - Northland Capital Tate Sullivan - Maxim Group Chris Pierce - Needham & Company Operator Good day, and welcome to the Beam Global First Quarter 2023 Financi ...

PART I FINANCIAL INFORMATION [Item 1. Financial Statements (Unaudited)](index=3&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) This section presents Beam Global's unaudited condensed financial statements for the period ended March 31, 2023, encompassing Balance Sheets, Statements of Operations, Statements of Changes in Stockholders' Equity, and Statements of Cash Flows, along with integral notes on accounting policies and business combinations [Condensed Balance Sheets](index=3&type=section&id=Condensed%20Balance%20Sheets) As of March 31, 2023, total assets increased to **$41.0 million** from **$37.7 million** at year-end 2022, while total liabilities rose to **$19.1 million** from **$14.5 million**, leading to a decrease in total stockholders' equity from **$23.2 million** to **$21.9 million** Condensed Balance Sheet Data (in thousands) | Account | March 31, 2023 (in thousands) | December 31, 2022 (in thousands) | | :--- | :--- | :--- | | **Total Current Assets** | $23,456 | $19,935 | | Accounts Receivable | $6,882 | $4,429 | | Inventory | $12,745 | $12,246 | | **Total Assets** | **$40,982** | **$37,730** | | **Total Current Liabilities** | $17,931 | $13,172 | | Accounts Payable | $7,080 | $2,865 | | Contingent Consideration, current | $6,776 | $6,776 | | **Total Liabilities** | **$19,130** | **$14,523** | | **Total Stockholders' Equity** | **$21,852** | **$23,207** | [Condensed Statements of Operations](index=4&type=section&id=Condensed%20Statements%20of%20Operations) For the three months ended March 31, 2023, revenues surged **245%** to **$13.0 million**, achieving a marginal gross profit of **$5,000** compared to a prior-year gross loss, though the net loss widened to **$3.8 million** due to increased operating expenses Statement of Operations Highlights (in thousands, except per share data) | Metric | Q1 2023 (in thousands) | Q1 2022 (in thousands) | | :--- | :--- | :--- | | Revenues | $13,020 | $3,770 | | Gross Profit (Loss) | $5 | $(305) | | Operating Expenses | $3,846 | $1,975 | | Loss from Operations | $(3,841) | $(2,280) | | Net Loss | $(3,831) | $(2,278) | | Net Loss Per Share (basic & diluted) | $(0.38) | $(0.24) | [Condensed Statements of Changes in Stockholders' Equity](index=5&type=section&id=Condensed%20Statements%20of%20Changes%20in%20Stockholders%27%20Equity) Stockholders' equity decreased from **$23.2 million** at year-end 2022 to **$21.9 million** as of March 31, 2023, primarily due to a **$3.8 million** net loss, partially offset by equity financing activities - The primary driver for the decrease in stockholders' equity was the **$3.8 million** net loss for the quarter[37](index=37&type=chunk) - Positive contributions to equity included **$1.7 million** from stock-based compensation to consultants, **$0.4 million** from employee stock-based compensation, and proceeds from warrant exercises and stock sales[37](index=37&type=chunk) [Condensed Statements of Cash Flows](index=6&type=section&id=Condensed%20Statements%20of%20Cash%20Flows) Net cash used in operating activities significantly decreased to **$0.6 million** in Q1 2023 from **$1.9 million** in Q1 2022, resulting in an overall **$0.7 million** decrease in cash during the quarter, ending at **$1.0 million** Cash Flow Summary (in thousands) | Activity | Q1 2023 (in thousands) | Q1 2022 (in thousands) | | :--- | :--- | :--- | | Net cash used in operating activities | $(619) | $(1,907) | | Net cash used in investing activities | $(330) | $(954) | | Net cash provided by financing activities | $258 | $88 | | **Net decrease in cash** | **$(691)** | **$(2,773)** | | **Cash at end of period** | **$990** | **$19,176** | [Notes To Condensed Financial Statements](index=7&type=section&id=Notes%20To%20Condensed%20Financial%20Statements) The notes provide detailed information supporting the financial statements, including disclosures on liquidity, the 2022 All Cell Technologies acquisition, customer concentration, intangible assets, and equity financing facility terms - The company, despite a history of net losses, believes it has sufficient funding for at least the next twelve months, supported by a **$100 million** credit facility and a **$30 million** Common Stock Purchase Agreement with B Riley[16](index=16&type=chunk) - In March 2022, the company acquired All Cell Technologies for **1,055,000** shares of common stock and a cash payment, with potential for additional earnout consideration based on revenue milestones[55](index=55&type=chunk)[56](index=56&type=chunk) - For Q1 2023, two customers, including the U.S. Army, accounted for **80%** and **10%** of total revenue, respectively, with the U.S. Army also representing **76%** of total accounts receivable at quarter-end[47](index=47&type=chunk) Revenue Breakdown (in thousands) | Category | Q1 2023 (in thousands) | Q1 2022 (in thousands) | | :--- | :--- | :--- | | Product sales | $12,811 | $3,562 | | Shipping and handling | $216 | $181 | | **Total revenues** | **$13,020** | **$3,770** | [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=17&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the **245%** revenue growth in Q1 2023, driven by federal contracts, achieving a positive gross margin due to increased production volume and efficiencies, while operating expenses rose from the All Cell acquisition and R&D investments, with liquidity supported by existing credit facilities and equity agreements - Revenues for Q1 2023 increased **245%** to **$13.0 million**, primarily due to a **$9.8 million** increase in sales to federal customers following large contract awards in late 2022[147](index=147&type=chunk)[150](index=150&type=chunk) - Gross profit turned positive (**0.04%** of revenue) compared to an **8.1%** gross loss in Q1 2022, attributed to favorable fixed overhead absorption from increased production (**152 EV ARC units** in Q1 2023 vs **45** in Q1 2022) and improved labor efficiency[153](index=153&type=chunk)[152](index=152&type=chunk) - Operating expenses rose to **$3.8 million** from **$2.0 million** year-over-year, with approximately **$0.5 million** of the increase from the full-quarter inclusion of the acquired All Cell operations[154](index=154&type=chunk) - Working capital decreased to **$5.5 million** from **$6.8 million** at year-end 2022, mainly due to a **$4.2 million** increase in accounts payable[149](index=149&type=chunk) - The company is developing new products, including the EV Standard™ and UAV ARC™, to expand into new markets[131](index=131&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=23&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This section is not applicable for a smaller reporting company - The report indicates this item is not applicable[89](index=89&type=chunk)[171](index=171&type=chunk) [Item 4. Controls and Procedures](index=23&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that as of March 31, 2023, the company's internal controls over financial reporting were not effective due to a material weakness related to insufficient inventory tracking controls, with a new ERP system implementation underway for remediation by July 2023 - Management identified a material weakness in internal controls over financial reporting as of March 31, 2023[91](index=91&type=chunk)[162](index=162&type=chunk) - The material weakness stems from insufficient controls for inventory tracking, relying on manual processes without an automated system[161](index=161&type=chunk)[172](index=172&type=chunk) - To address the weakness, the company began implementing a new enterprise resource planning (ERP) system, with completion expected in July 2023[173](index=173&type=chunk) PART II OTHER INFORMATION [Item 1. Legal Proceedings](index=25&type=section&id=Item%201.%20Legal%20Proceedings) As of the report date, the company is not involved in any pending or threatened lawsuits reasonably expected to have a material effect on its operations - There are no ongoing or pending legal claims or proceedings of which management is aware[94](index=94&type=chunk)[174](index=174&type=chunk) [Item 1A. Risk Factors](index=25&type=section&id=Item%201A.%20Risk%20Factors) This section refers investors to the risk factors detailed in the company's Annual Report on Form 10-K for the year ended December 31, 2022, for a comprehensive understanding of potential risks - The report directs readers to the risk factors detailed in the previously filed Annual Report on Form 10-K for the year ended December 31, 2022[165](index=165&type=chunk)[95](index=95&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=25&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) On March 21, 2023, the company issued **6,444** shares of common stock to a consultant for marketing services, unregistered under the Securities Act pursuant to a Section 4(a)(2) exemption - The Company issued **6,444** shares of common stock to a consultant for marketing services on March 21, 2023, under a Section 4(a)(2) exemption[96](index=96&type=chunk) [Item 3. Defaults Upon Senior Securities](index=25&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) This section is not applicable - The report indicates this item is not applicable[166](index=166&type=chunk) [Item 4. Mine Safety Disclosures](index=25&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This section is not applicable as the company has no mine safety disclosures to report - None reported[97](index=97&type=chunk) [Item 6. Exhibits](index=26&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including CEO and CFO certifications pursuant to the Sarbanes-Oxley Act and various Inline XBRL documents - The filing includes required certifications from the CEO and CFO under Sections 302 and 906 of the Sarbanes-Oxley Act[177](index=177&type=chunk)[168](index=168&type=chunk) - A list of corporate governance documents and other agreements incorporated by reference is provided[99](index=99&type=chunk) Signatures [Signatures](index=27&type=section&id=Signatures) The report is duly signed on May 15, 2023, by Desmond Wheatley, Chairman and Chief Executive Officer, and Katherine H McDermott, Chief Financial Officer - The report was signed and authorized by the company's Principal Executive Officer and Principal Financial/Accounting Officer[101](index=101&type=chunk)[102](index=102&type=chunk)

· government regulations and economic incentives promoting fuel efficiency and alternate forms of energy; · access to charging stations and consumers' perceptions about convenience and cost to charge an EV; and We may acquire other businesses, which could require significant management attention, disrupt our business, dilute stockholder value and harm our business, revenue and financial results. We source battery cells from a few suppliers, but the demand for cells and for lithium has increased over the pas ...

Beam Global (NASDAQ:BEEM) Q4 2022 Earnings Conference Call March 29, 2023 4:30 PM ET Company Participants Kathy McDermott - Chief Financial Officer Desmond Wheatley - President, Chief Executive Officer and Chairman Conference Call Participants Christopher Souther - B. Riley Tate Sullivan - Maxim Group Craig Irwin - Roth MKM Noel Parks - Tuohy Brothers Investment Research Abhi Sinha - Northland Operator Good day, and welcome to the Beam Global Year-End 2022 Financial Results and Corporate Update Conference C ...

Beam Global (NASDAQ:BEEM) Q3 2022 Results Earnings Conference Call November 10, 2022 4:30 PM ET Company Participants Desmond Wheatley - President, Chief Executive Officer and Chairman Kathy McDermott - Chief Financial Officer Conference Call Participants Tyler DiMatteo - BTIG Tate Sullivan - Maxim Group Craig Irwin - ROTH Capital Partners Christopher Souther - B. Riley Noel Parks - Tuohy Brothers Stephen Wagner - Integrity Wealth Advisors Cliff Weinstein - Private Investor Operator Good day and welcome to t ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________________ to ________________ Commission File Number 000-53204 Beam Global (Exact name of Registrant as specified in its charter) Nevada 26-1342810 ( ...

Beam Global (NASDAQ:BEEM) Q2 2022 Earnings Conference Call August 12, 2022 4:30 PM ET Company Participants Desmond Wheatley - President, Chief Executive Officer and Chairman Kathy McDermott - Chief Financial Officer Conference Call Participants Christopher Souther - B. Riley Tate Sullivan - Maxim Group Amit Dayal - HCW Noel Parks - Tuohy Brothers Investment Research Joseph Miranda - Private Investor James McCulloch - Private Investor Frank Hart - High Capital Funding Allen Ginsberg - Private Investor Operat ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________________ to ________________ Commission File Number 000-53204 Beam Global (Exact name of Registrant as specified in its charter) Nevada 26-1342810 (State ...