Beam Global Soars 15.34% on Revenue Surge

On April 14, 2025, Beam Global (BEEM) experienced a significant surge in its pre-market trading, rising by 15.34%.

Beam Global reported a substantial increase in revenue, reaching $49.3 million in 2024, marking a 124% growth compared to 2022. This impressive performance was driven by a significant improvement in gross margin, which rose from 2% in 2023 to 15% in 2024. The company's strategic expansion into new markets, including Europe, the Middle East, and Africa, further bolstered its revenue streams. Corporate sales contributed 64% of total sales in Q4 2024, highlighting the company's successful diversification efforts.

Despite these positive developments, Beam Global faced several challenges. The company's cash balance decreased from $10.4 million in 2023 to $4.6 million in 2024. Additionally, the US government's negative stance on electric vehicles impacted federal sales, and the company reported a loss from operations of $11.7 million in 2024. Tariffs and global economic uncertainties also pose potential risks to Beam Global's cost structure and growth trajectory. The transition to non-US federal government customers and new product lines is expected to cause some revenue volatility in the short term.

Looking ahead, Beam Global is optimistic about its product introduction timeline. The company expects to sell new products in 2026, with significant interest in BeamBike, particularly in the US and Europe. BeamPatrol shows potential with law enforcement and border patrol, while BeamSpot has already been sold, and BeamWell is on its way to the Middle East. The company anticipates traction with its bike and motorcycle products as well.