From GlobeNewswire: 2025-04-11 16:05:00

Beam Global reported operating results for 2024, including revenues of $49.3 million, a 68% CAGR over five years, and positive full-year gross margins of 15%. The company acquired Serbia-based Telcom, secured orders from the U.S. Army and Department of Homeland Security, achieved CE certification, and expanded its product portfolio. Additionally, Beam Global announced partnerships and received patents for new technologies.

CEO Desmond Wheatley highlighted the company’s expansion and growth in 2024, noting significant improvements in gross profitability and the creation of a platform for future growth. Despite a decrease in revenue from the previous year, Beam Global remains optimistic about opportunities in 2025 due to geographic and product portfolio expansions. The company is debt-free with access to a $100 million line of credit.

Financially, Beam Global reported a positive gross profit of $7.3 million in 2024, up from $1.2 million in 2023, with adjusted non-GAAP gross margins of 21%. Operating expenses were $19.0 million, and the company reported a loss from operations of $11.7 million. Cash on hand as of December 31, 2024, was $4.6 million. Non-GAAP financial measures were presented to supplement GAAP results.

Investors and interested parties can join a conference call on April 11, 2025, at 4:30 p.m. ET to review financial results and corporate developments. Beam Global, a clean technology innovator, develops sustainable infrastructure products and technologies for clean energy and transportation. The company operates in the U.S. and Europe and is listed on Nasdaq under the symbol BEEM. For more information, visit BeamForAll.com.



Read more at GlobeNewswire:: Beam Global Reports Full Year 2024 Operating Results