Beam (BEEM) - 2025 Q3 - Quarterly Results

Financial Performance - For Q3 2025, the Company's revenues were $5.8 million, a decrease of 50% from $11.5 million in Q3 2024, primarily due to unfavorable order timing[6] - The net loss for Q3 2025 was $4.9 million, compared to a net profit of $1.3 million in Q3 2024, with an adjusted net loss of $2.8 million excluding non-cash items[14] - For the nine months ended September 30, 2025, revenues decreased 53% to $19.2 million compared to $40.9 million in the same period in 2024[8] - Total revenues for Q3 2025 were $5,788,000, a decrease of 49.5% compared to $11,482,000 in Q3 2024[29] - Net loss for Q3 2025 was $(4,870,000), compared to a net income of $1,297,000 in Q3 2024[29] Gross Margin and Operating Expenses - The Company achieved a gross margin of -1% for Q3 2025, compared to 11% in Q3 2024, resulting in a gross loss of $28 thousand[9] - Operating expenses for Q3 2025 were $4.8 million, compared to a credit of $50 thousand in Q3 2024, with adjusted operating expenses excluding non-cash items at $3.6 million, a 30% improvement year-over-year[12] - Gross loss for Q3 2025 was $(28,000), compared to a gross income of $1,231,000 in Q3 2024[29] - Operating expenses for Q3 2025 were $4,844,000, significantly higher than $(51,000) in Q3 2024[29] - Non-GAAP gross profit for Q3 2025 was $739,000, with a non-GAAP gross margin of 13%[32] Assets and Liabilities - Total assets as of September 30, 2025, were $44,601,000, down from $61,459,000 as of December 31, 2024[27] - Total liabilities as of September 30, 2025, were $18,080,000, compared to $20,171,000 as of December 31, 2024[27] - Stockholders' equity decreased to $26,521,000 as of September 30, 2025, from $41,288,000 as of December 31, 2024[27] International Expansion - The Company opened offices in the Middle East and entered the MEA market through a joint venture, deploying products in Abu Dhabi and Jordan[7] - Beam Global's international revenues grew to 39% of total revenues for the first nine months of 2025, compared to 20% for the same period in 2024[8] Goodwill Impairment - The company reported an impairment of goodwill of $10,780,000 for the nine months ended September 30, 2025[29]