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Mar 31, 2024
Beam Q1 2024 Earnings Report
Reported record first quarter revenues and gross profit, driven by increased federal orders and the acquisition of Amiga, with a net loss improvement year over year.
Key Takeaways
Beam Global reported record first quarter revenues of $14.6 million, a 12% increase year over year. Gross profit reached a record $1.5 million, representing 10% of sales. The company's net loss improved to $3.0 million, or 21% of revenue, compared to $3.8 million, or 29% of revenue, in the same period last year.
Achieved record first quarter revenues of $14.6 million, a 12% increase year over year.
Gross profit reached a record $1.5 million, with a gross margin of over 10%.
Won a significant contract with the British Army through Beam Europe.
Net loss improved to $3.0 million, or 21% of revenue, compared to $3.8 million, or 29% of revenue, in the same period last year.
Beam
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Beam Revenue by Segment
Beam Revenue by Geographic Location
Revenue by Segment
Commercial Customers Revenue
CapyFin.comRevenue by Geographic Location
International Revenue
CapyFin.com Forward Guidance
The company is focused on diversifying revenue and profit opportunities in expanded markets with more product offerings.