Exhibit 99.1 Beam Global Announces Record First Quarter 2024 Operating Results Conference Call Tuesday May 21, 2024 at 4:30 p.m. ET SAN DIEGO, CA – May 21, 2024 – Beam Global, (Nasdaq: BEEM), (the "Company"), the leading provider of innovative and sustainable infrastructure solutions for the electrification of transportation and energy security, today announced its first quarter results for the period ended March 31, 2024. Q1 2024 Financial and Recent Company Highlights · Record first quarter revenue of $14 ...

SAN DIEGO, May 21, 2024 (GLOBE NEWSWIRE) -- Beam Global, (NASDAQ:BEEM), (the "Company"), the leading provider of innovative and sustainable infrastructure solutions for the electrification of transportation and energy security, today announced its first quarter results for the period ended March 31, 2024. Q1 2024 Financial and Recent Company Highlights Gross profit for the quarter ended March 31, 2024, was a record $1.5 million, or 10% of sales, compared to a gross profit of $5 thousand, or .04% of sales in ...

4 Beam Global Consolidated Statements of Changes in Stockholders' Equity (Unaudited, in thousands) | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |--------------------------------------------------------------------------------------------------------------------------|-------------------------|------------------|-------|--------------------------------------------|-------|--------------------------------------|-------|----------------------------------------------|--------------------------- ...

Core Insights - Beam Global will report its Q1 2024 operating results on May 20, 2024, after market close [1] - A conference call to discuss the financial results and corporate developments is scheduled for May 21, 2024, at 4:30 p.m. ET [1][2] Company Overview - Beam Global is a clean technology innovator focused on sustainable infrastructure products and technologies [4] - The company operates at the intersection of clean energy and transportation, emphasizing sustainable energy infrastructure and scalable EV charging solutions [4] - Beam Global has a significant patent portfolio and operates in the U.S. and Europe, with headquarters in San Diego and facilities in Chicago, Belgrade, and Kraljevo [4]

SAN DIEGO, May 15, 2024 (GLOBE NEWSWIRE) -- Beam Global, (Nasdaq: BEEM), (the "Company"), a leading provider of innovative and sustainable infrastructure solutions for the electrification of transportation and energy security, today announced that it will report its Q1 2024 operating results on Monday, May 20, 2024 after the market closes. Management will host a conference call on Tuesday May 21, 2024 at 4:30 p.m. ET to review financial results and provide an update on corporate developments. Following mana ...

The stage has been set for the world to transition into a green energy environment. Global economies have already taken steps to shift to clean energy. Nations are gearing up to meet ambitious climate change targets to address the need to reduce carbon footprint and emissions, making investors start hunting for renewable energy stocks to buy. According to the Economist, clean energy investments have increased by 40% since 2020. Based on last year’s data alone, this figure could rise as countries push toward ...

SAN DIEGO, May 09, 2024 (GLOBE NEWSWIRE) -- Beam Global, (NASDAQ:BEEM), a leading provider of innovative and sustainable infrastructure solutions for the electrification of transportation and energy security, announced that the Federal Railroad Administration has ordered EV ARC™ solar-powered EV charging systems to charge federal fleet vehicles at the Transportation Technology Center (TTC) in Pueblo, CO. The EV ARC™ systems were purchased through the General Services Administration (GSA) Federal Blanket Pur ...

SAN DIEGO, April 25, 2024 (GLOBE NEWSWIRE) -- Beam Global, (NASDAQ:BEEM, BEEMW))), a leading provider of innovative and sustainable infrastructure solutions for the electrification of transportation and energy security, announced that the U.S. National Park Service (NPS) has deployed EV ARC™ solar-powered EV charging systems to charge federal fleet vehicles at the National Capital Region headquarters at the National Mall in Washington, D.C.. The EV ARC™ systems were purchased through the General Services Ad ...

Since the beginning of 2024, concern for the electric vehicle (EV) market has risen while many EV stocks have trended downward. After enjoying a red-hot surge of enthusiasm, the sector has definitely cooled. These days, car buyers seem more keen on hybrids than even the trendiest EVs. Additionally, some of the EV sector’s leading names — including Tesla (NASDAQ:TSLA) — have opted for layoffs this year, casting further doubt over the space’s growth prospects. At this point, some investors are likely wonderin ...

Financial Data and Key Metrics Changes - Revenue for Q4 2023 reached a record $20 million, a 154% increase from $7.9 million in Q4 2022. Full-year revenue was $67.4 million, a 206% increase from $22 million in 2022 [3][4] - Gross profit for Q4 2023 was $0.4 million (2% of sales), compared to a gross loss of $0.7 million (-9% of sales) in Q4 2022. For the full year, gross profit was $1.2 million (2% of sales), compared to a gross loss of $1.7 million (-7% of sales) in 2022 [4][6] - Operating expenses decreased to $5.5 million in Q4 2023 from $7.1 million in Q4 2022. For the full year, operating expenses were $17.5 million (26% of revenues), down from $18 million (82% of revenues) in 2022 [5][6] - Net loss for Q4 2023 was $5.1 million ($0.36 per share), improved from a net loss of $7.8 million ($0.77 per share) in Q4 2022. The full-year net loss was $16.1 million ($1.30 per share), down from $19.7 million ($1.99 per share) in 2022 [6][4] Business Line Data and Key Metrics Changes - The energy storage business generated $8.5 million in revenue from the acquisition of AllCell Technologies, while the new Beam Europe subsidiary contributed $3.4 million following the Amiga acquisition [4] - The majority of revenues continue to come from the EV ARC product line, with significant contributions from the battery business and early sales from Beam Europe [19][40] Market Data and Key Metrics Changes - The company reported a strong pipeline of $150 million, primarily from the U.S. market, with initial successes in Europe [39][40] - The U.S. federal government remains the largest customer, with significant orders from the U.S. Army and other federal entities [46][48] Company Strategy and Development Direction - The company is focused on expanding into the European market, which is seen as the largest opportunity for growth, particularly with the acquisition of Amiga [12][49] - Beam Global aims to improve operational efficiencies and reduce costs through the integration of new management and operational practices, including a new ERP system [18][28] - The company is committed to enhancing its intellectual property portfolio, having received several new patents related to its products [24][25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term growth of electric vehicle sales and the corresponding demand for charging infrastructure, despite recent media narratives suggesting a slowdown [36][38] - The company anticipates continued strong demand for its products, particularly in light of government contracts and the growing need for renewable energy solutions [41][46] Other Important Information - The company ended 2023 with a cash balance of $10.4 million, significantly up from $1.7 million at the end of 2022, and a working capital increase from $6.8 million to $23.8 million [6][21] - Beam Global has made significant changes to its management team, including the appointment of a new CFO and COO, aimed at driving operational excellence and strategic growth [27][28] Q&A Session Summary Question: What are the expectations for future revenue growth? - Management indicated that 2023 was a year of significant growth, with expectations for continued revenue increases driven by both U.S. and European markets [12][39] Question: How is the company addressing operational efficiencies? - The new COO is expected to enhance operational efficiencies and reduce waste, contributing positively to gross profit margins [18][29] Question: What is the outlook for the European market? - Management expressed optimism about the European market, highlighting the recent acquisition and initial sales successes as indicators of future growth potential [49][42]