Loading...
•
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.
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.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...