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Dec 31, 2022
Beam Q4 2022 Earnings Report
Beam Global reported record revenues and strategic advancements.
Key Takeaways
Beam Global reported a 126% increase in Q4 revenue, reaching $7.9 million, and a 144% increase in full year revenue, totaling $22.0 million. The company experienced a gross loss in Q4, but improvements in gross profitability are underway. Operating expenses increased due to acquisitions and non-cash adjustments. The company is expanding into new markets and has a strong focus on innovation.
Achieved record fourth-quarter revenues of $7.9 million, a 126% increase year-over-year.
Full-year revenues reached a record $22.0 million, a 144% increase year-over-year.
Government agencies accounted for 65% of revenues, while commercial entities contributed 35%.
Gross loss for the quarter was $0.7 million, with improvements expected due to increased production and efficiency.
Forward Guidance
Beam Global anticipates continued revenue growth, driven by expanding market presence and product innovation. The company expects to benefit from strategic partnerships and increasing demand for sustainable energy solutions. However, inflationary pressures and supply chain challenges may pose risks to profitability.
Positive Outlook
- Anticipates continued revenue growth
- Expanding market presence
- Product innovation
- Strategic partnerships
- Increasing demand for sustainable energy solutions
Challenges Ahead
- Inflationary pressures
- Supply chain challenges
- Gross loss
- Increase in operating expenses
- Decrease in cash
Historical Earnings Impact
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Avg. Return Before/After Earnings
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