Beam (US:BEEM)2021-05-25 03:24Financial Data and Key Metrics Changes - For Q1 2021, Beam Global reported revenues of $1.37 million, a 4% increase from $1.32 million in Q1 2020 [6] - Gross loss for Q1 2021 was $149,120, compared to a gross loss of $39,641 in the same period of 2020, primarily due to increased costs for the new EV ARC 2020 system [8] - Operating expenses rose to $1.10 million in Q1 2021 from $902,000 in Q1 2020, attributed to increased non-cash compensation, sales headcount, and R&D headcount [10] - The net loss for Q1 2021 was $1.25 million, up from $942,521 in Q1 2020 [11] - Cash at March 31, 2021, was $28.21 million, an increase from $26.70 million at the end of 2020 [11] Business Line Data and Key Metrics Changes - The company shipped systems to various sectors including municipalities, federal, academic, utility, and enterprise business segments [7] - As of March 31, 2021, the contracted backlog was approximately $1.2 million, which has since increased to over $5 million, all expected to convert to revenue in 2021 [17][18] Market Data and Key Metrics Changes - The EV market is experiencing a significant shift towards electrification, with government mandates and consumer demand driving the need for EV charging infrastructure [34][41] - California has committed over a billion dollars to electrification and has mandated rideshare operators to transition to electric vehicles by the end of the decade [46] Company Strategy and Development Direction - Beam Global is focused on rapidly deploying EV charging infrastructure that is off-grid and resilient, positioning itself to meet the increasing demand for EV charging solutions [42][43] - The company is enhancing its production capabilities to handle anticipated growth, with plans to scale up manufacturing and improve gross margins [66][100] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the post-vaccine acceleration of EV charging infrastructure across government and enterprise sectors [77] - The company is well-positioned to capitalize on the growing demand for EV charging solutions, with a robust pipeline and backlog [76] Other Important Information - The company has engaged a new lobbying consultant to enhance government relations and secure funding opportunities for its products [49][51] - Beam Global has received several purchase orders through a federal GSA contract, streamlining the procurement process for federal agencies [57][58] Q&A Session Summary Question: Is the 52 ARCs order from California part of the $5 million backlog? - Yes, it is included in the backlog [79] Question: Are there similar enterprise opportunities in the pipeline? - Yes, there are many similar opportunities, particularly with the Electrify America/Jeep partnership [80] Question: Can you elaborate on the sponsorship opportunities mentioned? - The company is working with a group specializing in corporate sponsorships, focusing on transportation [85] Question: What is the potential size of the Jeep Stellantis opportunity? - The exact size is uncertain, but there are many locations needing EV charging where the grid does not exist [110] Question: Has the company faced supply chain issues with solar modules or batteries? - No significant delays have been encountered so far, and the situation is being monitored closely [94] Question: Is the company prepared for a potential increase in orders? - Yes, the company has facilities capable of scaling production significantly and has sufficient operating capital [97][102]