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Mar 31
Beam Q1 2025 Earnings Report
Beam Global reported its first quarter 2025 operating results, highlighting a decrease in revenue compared to the previous year but showing improvements in gross margin and reduced net cash used in operations.
Key Takeaways
Beam Global's first quarter 2025 revenues were $6.3 million, a decrease from $14.561 million in Q1 2024. Despite the revenue decline, the company achieved a positive GAAP Gross Margin of 8% and an Adjusted non-GAAP Gross Margin of 21%. Net cash used in operations significantly decreased to $1.8 million from $3.0 million in the prior year, and the company remains debt-free with a substantial line of credit available.
Revenue for Q1 2025 was $6.3 million, a decrease from $14.561 million in Q1 2024.
GAAP Gross Margin improved to 8%, and Adjusted non-GAAP Gross Margin was 21%.
Net cash used in operations decreased to $1.8 million in Q1 2025 from $3.0 million in Q1 2024.
The company reported a net loss of $15.523 million, which included a significant non-cash goodwill impairment of $10.780 million.
Beam
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Beam Revenue by Segment
Beam Revenue by Geographic Location
Revenue by Segment
Commercial Customers Revenue
CapyFin.comState & Local Gov. Revenue
CapyFin.comRevenue by Geographic Location
International Revenue
CapyFin.com Forward Guidance
Beam Global anticipates a return to growth in future quarters, driven by international expansion, increased sales of its flagship product EV ARC™, and promising work in its battery business. The company believes it has sufficient cash and working capital to continue operations without debt.
Positive Outlook
- Expansion efforts in international markets are gaining momentum and bearing fruit.
- Increased sales of the flagship product EV ARC™ in the first quarter.
- The battery business is performing well with interesting and promising work.
- Sufficient cash and working capital to continue operations without debt or going concern.
- New product lineup and expanded market reach beyond the US are expected to create growth opportunities.
Challenges Ahead
- Navigating through a series of uncertainties in the U.S. market.
- Loss of immediate benefits from U.S. federal government sales.
- Decrease in revenue mainly due to uncertainty in the U.S. government's zero emission vehicle strategy related to the presidential election.
- Goodwill impairment reported due to decrease in stock price, though not considered indicative of future performance.
- Net loss for the quarter, primarily due to non-cash expense items like goodwill impairment.
Revenue & Expenses
Visualization of income flow from segment revenue to net income