Beam Global reports record 2023 revenue $67.4M (+206% YoY); net loss narrows to $16.1M

Beam Global

2024-Q1 EPS reported -$0.21 revenue$14,561,000

Record full year revenue $67.4M, up 206% YoY; Q4 revenue $20.0M, up 154% YoY.
Gross profit $1.2M (2% of sales), improved from -$1.7M in 2022; excluding non-cash amortization, $2.1M.
Net loss $16.1M vs $19.7M in 2022; non-cash items $4.3M. Operating expenses improved to 26% of revenue from 82%.
Cash $10.4M (up from $1.7M); working capital $23.8M; debt free with $100M credit line unused.
Pipeline $150M, backlog $22M; $7.4M US Army order, $4.8M DHS order; acquired Amiga to create Beam Europe.

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 0.95

Beam Global reported the year ended December 31, 2023 results: revenue $67.4 million, net income $5.1 million.

Period: the year ended December 31, 2023
Revenue: $67.4 million
Net income: $5.1 million
Result: reported results

Exact text from the filing

Full year revenues for 2023 were a record $67.4 million, a 206% increase over 2022.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Beam Global reported the fourth quarter of 2023 results: revenue $20.0 million.

Period: the fourth quarter of 2023
Revenue: $20.0 million
Result: reported results

Exact text from the filing

For the fourth quarter of 2023, Beam Global reported record revenues of $20.0 million, a 154% increase over the same period in 2022.

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Source: SEC EDGAR

accession 0001683168-24-002474

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