Workflow
Zero-emission vehicle
icon
Search documents
Beam's Q1 Loss Wider Than Expected, Revenues Decline Y/Y
ZACKSยท 2025-05-19 13:56
Financial Performance - Beam Global reported an adjusted loss of 32 cents per share in Q1 2025, wider than the Zacks Consensus Estimate of a loss of 16 cents, compared to a loss of 21 cents per share in the same quarter last year [1] - The company reported net sales of $6.3 million, missing the Zacks Consensus Estimate of $15 million and down from $14.6 million in the year-ago quarter [1] - Gross profit in Q1 was $0.5 million (8% of sales), down from $1.5 million (10% of sales) in the prior year, primarily due to a non-cash expense of $1 million related to depreciation and amortization from the AllCell acquisition [2] Operating Expenses and Cash Flow - Operating expenses rose to $16 million from $4.5 million in the corresponding quarter of 2024, driven by $10.8 million of goodwill impairment [3] - As of March 31, 2025, the company had cash of $2.5 million, down from $4.6 million as of December 31, 2024, and had a total backlog of $6.3 million [3] - The company reported net cash used for operating activities of $1.8 million for the three months ended December 31, 2024, compared to $3 million for the same period in 2024, and remains optimistic about achieving positive cash flow in 2025 [4] Product and Market Expansion - In Q1 2025, the company delivered various products including EV ARC units and energy storage systems to locations across the U.S. and internationally [5] - Beam Global expanded its European sales network by adding three new distribution partners and entered the Middle Eastern market through a partnership, also launching the BeamPatrol collaboration with Zero Motorcycles [6]