Beam Global reports record Q3 revenue of $6.6M, up 227% YoY; backlog $62.2M

Beam Global

2022-Q3 EPS reported -$1.21 revenue$14,099,000

Revenue $6.6M (+227% YoY); 9-month revenue $14.1M (+156% YoY).
Gross loss improved to 5% of sales from 10% in Q3 2021; operating expenses $6.5M including $3.7M non-cash fair value change.
Record contracted backlog of $62.2M to be executed in next 12 months; large orders from U.S. Army ($29.4M) and VA ($11.6M).
Cash decreased to $4.7M from $21.9M at year-end 2021; working capital down to $12.8M.
CEO cites 'extraordinary rate of growth' and expects continued expansion.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Beam Global reported third fiscal quarter ended September 30, 2022 results: revenue $6.6 million.

Period: third fiscal quarter ended September 30, 2022
Revenue: $6.6 million
Result: reported results

Exact text from the filing

Beam Global reported record quarterly revenues of $6.6 million in the third quarter 2022, a 227% increase over $2.0 million reported in the third quarter of 2021.

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Source: SEC EDGAR

accession 0001683168-22-007524

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