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Dec 31, 2023
Beam Q4 2023 Earnings Report
Beam Global reported a record revenue increase and improved gross profit for Q4 2023.
Key Takeaways
Beam Global reported a significant increase in revenue for Q4 2023, with a 154% increase compared to the same period in 2022. The company also saw improvements in gross profit and a reduction in operating expenses as a percentage of revenues.
Revenue increased by 154% compared to Q4 2022, reaching $20.0 million.
Gross profit improved to $0.4 million, or 2% of sales, compared to a gross loss of $0.7 million in Q4 2022.
Operating expenses decreased to 28% of revenues, an improvement of 62% year over year.
Net loss improved by 74% year over year.
Beam
Beam
Forward Guidance
Beam Global believes that they have laid the groundwork for continued improvements in 2024.