Beam Q1 2024 Earnings Report
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
Beam
Beam Revenue by Geographic Location
Forward Guidance
The company is focused on diversifying revenue and profit opportunities in expanded markets with more product offerings.