Financial Data and Key Metrics Changes - For Q3 2025, revenues were $5.8 million, down from $40.9 million year-to-date as of September 2024, largely due to order timing [3][4] - Gross profit for Q3 2025 was a negative $28,000, resulting in a 0.5% gross margin loss, compared to an 11% gross margin in Q3 2024 [4][5] - The net loss for Q3 2025 was $4.9 million, compared to a net profit of $1.3 million for the same period in 2024 [7] - Year-to-date net loss as of September 30, 2025, excluding non-cash items, was $7 million, compared to $5.8 million for the same period in 2024 [7] Business Line Data and Key Metrics Changes - Revenues for the nine months ending September 30, 2025, were 67% derived from commercial customers, up from 31% in the same period of 2024 [4] - International customers comprised 39% of all revenues in 2025, compared to 20% in 2024 [4] - The energy storage systems business saw a 21% increase this year, primarily from new customers with challenging requirements [24] Market Data and Key Metrics Changes - Beam Europe contributed about 40% of revenue in Q3 2025, with new product portfolios helping to offset declines in traditional products due to political unrest [34][35] - The company is experiencing significant growth opportunities in the Middle East, particularly in electrification and charging infrastructure [30][56] Company Strategy and Development Direction - The company has established Beam Middle East as a joint venture with the Platinum Group, aiming to leverage local partnerships for growth [10][11] - The strategy includes expanding product portfolios and geographic reach, particularly in Europe and the Middle East, to mitigate reliance on U.S. federal sales [29][41] - The focus is on developing differentiated products that command higher margins rather than competing at the commodity level [24] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future revenue growth despite current challenges, attributing recent revenue declines to order timing rather than fundamental issues [33] - The company anticipates a return to appetite for electric vehicles and charging infrastructure in the U.S. as global demand for EVs continues to rise [66] - Management highlighted the importance of maintaining operational efficiencies and reducing costs while expanding into new markets [41] Other Important Information - The company has a contracted backlog of $8 million as of the end of Q3 2025, not including potential future orders from the Middle East [36][38] - Beam Global's products have demonstrated resilience in extreme weather conditions, showcasing their reliability and operational capabilities [28] Q&A Session Summary Question: Inquiry about wireless charging sales efforts - Management indicated that while there has been interest in wireless charging, automotive OEMs have been slow to integrate necessary receivers into vehicles, which is crucial for market adoption [44][45] Question: Clarification on battery business trial periods - Management noted that the timeline for customer orders varies, with some customers eager to move quickly due to the unique advantages of Beam's battery solutions [48][49] Question: Breakdown of backlog and pipeline opportunities - Management confirmed that the backlog is now more diversified, with contributions from battery opportunities and new products, moving away from reliance on federal customers [52][54] Question: Manufacturing capacity and growth - Management stated that current manufacturing capacity is underutilized due to a decline in federal sales, but there is significant capacity for expansion, particularly in Europe [59][63]