Those without internet access or unable to pre-register may dial in Please note that registered participants will receive their dial in Participants can register for the conference through the following ![]() Following management’s formal remarks, there will be a Review financial results and provide an update on corporate developments. Management will host a conference call on Wednesday at 4:30 PM ET to Our working capital decreased from $24.6 million to $21.8 million from Decemto March 31, 2022. The cash decrease was primarily from operating activities and the purchase of working capitalįrom All Cell. Partially due to the acquisition, and other increases.Īt March 31, 2022, we had cash of $19.2 million, compared to The increases were primarily due to the addition of All Cell expenses, increased sales and marketing expense to support revenue growth, increased legal and accounting services Operating Expenses were $2.0 million for the first quarter ofĢ022, compared to $1.1 million for the same period in the prior year. This was partially offsetīy an increase in material costs for steel and other components due to supply chain shortages and other inflationary pressures. As a percentage of sales, the gross loss improved by three percentage points reflectingįavorable fixed overhead absorption and improved labor efficiency due to the increase in production levels. To $0.1 million for the same period in the prior year. Gross loss in the quarter ended Mawas $0.3 million compared Shortly following the closing,īeam received a $2.4 million order for Beam AllCell TM battery products. $0.4 million for battery storage devices as a result of closing the acquisition of All Cell in early May. Quarter of 2022 of $3.8 million, compared to $1.4 million in the same period in the prior year, an increase of 175%. Of all these factors bodes well for an excellent 2022 for Beam Global.”įirst Fiscal Quarter 2022 Financial Summaryīeam Global reported record quarterly revenues in the first fiscal Gross margins at a time of historically high inflation is a powerful testament that our cost management efforts are paying off. Technology company makes us unique in the industry and will, I believe, further improve our efficiency and profitability. Operationally we are more efficient and producing product at a faster rate than at any time in our history. “DeliveriesĪnd new opportunities in the quarter came from government and commercial sectors and we anticipate strong continued growth from both. With new records in revenues, product deliveries and, perhaps most importantly, pipeline,” said Desmond Wheatley, CEO of Beam. “We continue to make advances across all areas of our business Selected for autonomous wildfire fighting exercise, Project Vesta, to chargeĮlectric vehicles that were used to provide autonomous wildfire fighting experimentĪward winner for Achievement in Product Innovation in 2022 American Business ![]() Infrastructure to provide a streamlined procurement processīeam Global products featured on the front cover of the FHA NEVI Program Received a follow-on order from the California Department of General Servicesįor 23 EV ARC TM systems to charge fleet EVs for government agenciesĪwarded Federal Blanket Purchase Agreement for electric vehicle charging Received a $2.4 million order from mobile EV charging company SparkCharge for Reduced the gross loss in Q1 2022 by 3 percentage points, compared to Q1Ĭlosed the strategic acquisition of All Cell Technologies, LLC (AllĬell), an energy storage leader, which is expected to secure vital battery supply, reduce battery costs for Beam, and increase Grew pipeline to a new record of over $100M Q1 22 system deliveries 250% higher than Q1 21 Generated the highest quarterly revenues in the company’s history of ![]() SAN DIEGO, CA – – Beam Global, (Nasdaq: BEEM,īEEMW), (the “Company”), the leading provider of innovative sustainable products and technologies for electric vehicle (EV)Ĭharging, energy storage, energy security and outdoor media, today announced the financial results for the first fiscal quarter endedįiscal Q1 2022 and Recent Company Highlights
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