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Sep 30, 2021
Beam Q3 2021 Earnings Report
Beam Global reported record third quarter revenues, driven by increasing federal and enterprise orders and a growing backlog.
Key Takeaways
Beam Global announced its Q3 2021 financial results, highlighting record third-quarter revenues of $2,020,612, a 63% increase compared to the previous year. The company also reported its highest-ever backlog of over $7 million and a pipeline exceeding $75 million. However, the company experienced a gross loss of $208,023 and a net loss of $1,688,631 for the quarter.
Reported the highest third quarter revenues in company history.
Ended the quarter with the highest ever backlog of over $7 million.
Experienced an acceleration through the sales process.
The infrastructure bill will provide $7.5 billion for building a nationwide network of plug-in electric vehicle chargers.
Beam
Beam
Forward Guidance
Beam Global anticipates continued growth, supported by investments in their factory and team, with a focus on cost control.
Positive Outlook
- Increase in orders through the GSA Federal contract.
- Enterprise and consumer markets are heating up with fantastic new products from companies like Rivian and Ford.
- Post vaccine return to the office is reinvigorating the workplace charging market.
- Infrastructure bill will provide $7.5 billion for building a nationwide network of plug-in electric vehicle chargers.
- The company is investing in its factory and in its team while remaining laser focused on cost control.