Beam Q2 2022 Earnings Report
Key Takeaways
Beam Global reported record second quarter revenues of $3.7 million, a 75% increase compared to the same period last year. The company's first half revenues more than doubled compared to the previous year, reaching $7.5 million. The integration of the battery company acquisition is progressing, with initial deployments of internally produced battery solutions in EV ARC systems.
Record second quarter revenues of $3.7 million, up 75% year-over-year.
First half revenues reached $7.5 million, a 114% increase compared to the same period last year.
Gross loss improved as a percentage of sales due to favorable fixed overhead absorption and improved labor efficiency.
Integration of the acquired battery company is progressing, with deployments of internally produced battery solutions.
Beam
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Forward Guidance
The company is excited about what the Beam Team will make happen during the remainder of 2022.