Beam Global Q1 revenue $14.6M (+12% YoY), gross margin 10.2%, net loss narrows to $3.0M

Beam Global

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

Record Q1 revenue of $14.6M, up 12% from $13.0M in Q1 2023.
Gross profit of $1.5M (10.2% margin) vs $5k (0.04%) a year ago; improvement from cost cuts.
Net loss of $3.0M ($0.81 per share) vs $3.8M ($1.15) in Q1 2023; non-cash items $1.1M.
Backlog $20M, sales pipeline over $160M; debt-free with $100M undrawn credit line.
Notable orders: $7.4M U.S. Army, $4.8M DHS, $1.0M UK Ministry of Defence contracts.

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