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Dec 30, 2024
Beam Q4 2024 Earnings Report
Beam Global reported its full year 2024 operating results, with revenues of $49.3 million and a net loss of $11.282 million.
Key Takeaways
Beam Global's full year 2024 revenues were $49.3 million, a decrease from $67.4 million in 2023, but still more than double any previous year's revenue excluding 2023. The company achieved a positive gross profit of $7.3 million, or 15% gross margin, a significant improvement from 2023. Net loss for the year was $11.282 million, an improvement from the $16.060 million loss in 2023.
Revenues for 2024 were $49.3 million, more than double any previous year's revenue in the Company's history excluding 2023.
Gross profit for 2024 was $7.3 million, or 15% gross margin, an improvement of 13 percentage points over 2023.
Net cash used in Operations for 2024 was $2.2 million, a significant reduction from $13.3 million in 2023.
The company reported a net loss of $11.282 million for 2024, an improvement from a $16.060 million loss in 2023.
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CapyFin.com Forward Guidance
The company believes it retains excellent opportunities for growth in 2025 due to geographic and product portfolio expansions, despite political and economic uncertainty in the United States.
Positive Outlook
- Expansion into new e-mobility and energy security products.
- Geographic expansion into markets with billions of potential new customers.
- Acquisition in Serbia to reduce product costs and improve effectiveness.
- Continued building of intellectual property portfolio with new patents.
- Improved gross profitability and clear path to being cash-flow positive.
Challenges Ahead
- Decrease in revenue attributed to order timing uncertainty.
- Uncertainty in the U.S. government's zero emission vehicle strategy related to the presidential election.
- Impact on larger federal customers due to political and economic uncertainty.
- Potential for future expenses similar to adjustments reflected in non-GAAP measures.
- The company's future results may be unaffected by the types of items excluded from non-GAAP calculations.