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Jun 30, 2021
Beam Q2 2021 Earnings Report
Reported record revenue and deliveries, indicating successful strategy and execution.
Key Takeaways
Beam Global reported a 46% increase in revenue for Q2 2021, reaching $2,121,098, driven by strong shipments to municipalities, federal customers, and enterprise clients. However, the company experienced a gross loss of $273,877 due to increased costs for the new EV ARC™ 2020 unit and rising steel and shipping expenses. Operating expenses also increased by 54%, leading to a net loss of $1,641,788.
Q2 2021 saw a record number of Beam deliveries and revenue.
The company's largest order to date was recorded.
Funding and interest in Beam’s products are increasing at government and corporate levels.
A $75M pipeline indicates significant future order potential.
Forward Guidance
Beam Global anticipates a significant increase in orders based on a strong current pipeline and is taking steps to manage costs and invest in strategic areas to capitalize on this growth.
Positive Outlook
- Increasing funding and interest in EV charging infrastructure.
- Growing demand for rapidly deployed and scalable EV charging solutions.
- Potential for larger orders and increased sales.
- Strategic investments in sales, marketing, R&D, and factory upgrades.
- Efforts to reduce manufacturing costs and mitigate shipping disruptions.
Challenges Ahead
- Gross loss due to increased costs for the new EV ARC™ 2020 unit.
- Rising steel prices and shipping costs.
- Increased operating expenses.
- Overall net loss for the quarter.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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