Beam Global Q1 revenue record $13M (+245% YoY); net loss $3.8M

Beam Global

2023-Q1 EPS reported -$0.38 revenue$13,020,000

Revenue $13.0M, up 245% YoY and 65% QoQ; gross profit positive $0.005M vs gross loss $0.3M in Q1 2022.
Net loss $3.8M, compared to $2.3M in Q1 2022; non-cash items $0.9M.
Cash $1.0M at March 31, 2023; $5M at time of reporting (May 15); $100M credit facility undrawn.
Record backlog $52M; order pipeline $117-132M; EV ARC deployments +233% YoY.
EV ARC sales price hiked 8.25% effective May 1, 2023; management expects further margin improvements.

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 quarter ended March 31, 2023 results: revenue $13.0 million, net income Net loss was $3.8 million for the three months ended March 31, 2023.

Period: quarter ended March 31, 2023
Revenue: $13.0 million
Net income: Net loss was $3.8 million for the three months ended March 31, 2023
Result: reported results

Exact text from the filing

forward to breaking more records in the coming periods.” First Quarter 2023 Financial Summary Revenues For the first quarter of 2023, Beam Global reported record revenues of $13.0 million, a 245% increase over the same period in 2022 and a 65% increase over the prior quarter. The increase in revenues resulted primarily from growth in deliveries to federal

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Source: SEC EDGAR

accession 0001683168-23-003401

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