Beam Global secures New Jersey contract for EV ARC charging systems
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 25 2022
0mins
Source: globenewswire
Beam Global's stock surged by 30.51% in pre-market trading as it reached a 20-day high.
The New Jersey Department of the Treasury has purchased multiple EV ARC™ off-grid electric vehicle charging systems, marking the third state division to deploy these systems. This procurement indicates sustained government demand for renewable energy infrastructure and highlights Beam Global's ongoing growth potential in the public sector market. CEO Desmond Wheatley emphasized the efficiency of leveraging the GSA contract for rapid deployment of charging infrastructure.
This contract not only reinforces Beam Global's commitment to sustainability but also positions the company favorably within the clean energy and transportation sectors, suggesting a promising outlook for future growth.
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Analyst Views on BEEM
Wall Street analysts forecast BEEM stock price to rise
3 Analyst Rating
2 Buy
1 Hold
0 Sell
Moderate Buy
Current: 1.520
Low
3.00
Averages
3.25
High
3.50
Current: 1.520
Low
3.00
Averages
3.25
High
3.50
About BEEM
Beam Global is a clean technology innovator which develops and manufactures sustainable infrastructure products and technologies. The Company develops designs, engineers, manufactures, and sells renewably energized infrastructure products for electric vehicle (EV) charging. It also manufactures steel structures with electronic integration such as street lighting, cell towers and energy infrastructure products, as well as power electronics including invertors, charge controllers, power supplies and light-emitting diode (LED) lighting. Its product offerings include EV ARC Electric Vehicle Autonomous Renewable Charger, Solar Tree Direct Current Fast Charge (DCFC), EV ARC DCFC, BeamSpot, BeamBike, BeamPatrol, BeamWell, and UAV ARC. Its EV ARC Electric Vehicle Autonomous Renewable Charger is a patented infrastructure product that uses integrated solar power and battery storage to provide a mounting asset and a source of power for factory installed electric vehicle charging stations.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Beam Global Deploys Six EV ARC Charging Systems in Long Beach
- Infrastructure Expansion: Beam Global has deployed six additional EV ARC™ solar-powered electric vehicle charging systems in Long Beach, California, with four supporting the city's electric vehicle fleet operations and two at Long Beach Airport, significantly enhancing the city's EV charging capacity and aiding the transition to electric fleet vehicles.
- Autonomous Charging Benefits: The EV ARC™ systems generate and store electrical energy on-site, enabling autonomous EV charging that can be rapidly deployed and relocated, thus avoiding the high costs and disruptions associated with conventional charging infrastructure installation and operation, thereby enhancing operational efficiency.
- Environmental Impact Reduction: By utilizing off-grid charging systems, the City of Long Beach can increase charging capacity where needed without adding demand on existing electrical infrastructure, effectively reducing vehicle emissions and supporting sustainability goals.
- Significant Cost Benefits: Beam Global's charging infrastructure products allow fleet operators to scale up charging infrastructure with the lowest total cost of ownership, reducing downtime and maintenance costs while improving working conditions for employees, further driving the electrification of fleet vehicles.
See More
Beam Global Q1 2026 Earnings Call Insights
- Backlog Growth: Beam Global's backlog increased by 50% in Q1 2026, rising from $6 million at the end of 2025 to $9 million, indicating strong signals of business acceleration.
- Revenue Decline Analysis: The first quarter revenue was $3.1 million, a 51% decrease year-over-year, primarily due to the deferral of two large orders and seasonal slowdowns in the European market, reflecting the company's vulnerability to demand fluctuations.
- International Market Performance: International customers accounted for 51% of revenues in Q1 2026, up from 25% in Q1 2025, indicating a 48% increase in revenue from non-government commercial entities, enhancing the company's market diversification capabilities.
- Future Growth Outlook: Management expressed optimism for Q2 2026, having already matched Q1 revenue, emphasizing the potential of the autonomous vehicle and drone markets, which are expected to contribute significantly to revenue.
See More
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- Revenue Decline: Beam Global reported Q1 2026 revenue of $3.1 million, a 51% decrease from the previous year, primarily due to order timing and reduced federal EV spending, indicating ongoing financial challenges for the company.
- Gross Loss: The company reported a gross loss of $0.4 million with a negative gross margin of 13.3%, contrasting with a gross profit of $0.5 million and a 7.9% margin in Q1 2025, highlighting the impact of fixed overhead allocations against lower product volumes.
- International Market Growth: International revenue comprised 51% of total revenues in Q1 2026, up from 25% in the prior year, indicating strong expansion potential in global markets, particularly with the first EV Arc sale in the Middle East.
- Financial Health Status: Despite the losses, Beam Global operates with no debt and has an unused $100 million line of credit, demonstrating strong financial health that can support future growth and investments.
See More
Beam Global Reports Q1 Earnings Miss
- Earnings Miss: Beam Global reported a Q1 GAAP EPS of -$0.33, missing estimates by $0.12, indicating ongoing challenges in profitability that may undermine investor confidence.
- Significant Revenue Decline: The company posted revenues of $3.1 million for Q1, a 50.9% year-over-year drop, falling short of expectations by $4.24 million, reflecting weak market demand and inadequate sales strategies that could pressure future cash flows.
- Increased Non-GAAP Net Loss: The non-GAAP net loss for Q1 2026 was $3.7 million, up from $3.0 million in Q1 2025, highlighting greater challenges in cost control and operational efficiency that may affect long-term sustainability.
- Weak Order Growth: Although weekly orders surged to $1.7 million, the overall performance failed to reflect this positive signal, indicating market uncertainty and difficulties in converting orders into revenue for the company.
See More
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- Earnings Release Schedule: Beam Global will report its Q1 2026 financial results after market close on May 15, 2026, with management expected to provide insights into the company's financial health and recent developments, which may influence investor confidence.
- Conference Call Timing: Management will host a conference call at 4:30 p.m. ET on May 15, allowing for a review of financial results and a Q&A session, thereby enhancing direct interaction with investors and transparency.
- Dial-In Information: Participants are advised to dial in 10 minutes early, with a toll-free number of 1-844-739-3880 and an international number of 1-412-317-5716, ensuring smooth access to the call and improving the overall participation experience.
- Webcast Archive Availability: Following the call, Beam Global will provide a webcast archive on its website, facilitating access to information for investors who could not attend live, thereby enhancing the company's information disclosure convenience and timeliness.
See More
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- Patent Innovation: Beam Global has secured U.S. Patent No. 12,573,851, which covers its tracking technology for hybrid solar and wind power systems, optimizing component interaction to prevent generation loss, thereby enhancing its competitive edge in the clean energy market.
- Positive Market Reaction: Following the patent announcement, Beam Global's shares rose over 2% in premarket trading, reflecting investor confidence in the company's innovative capabilities within the electric vehicle infrastructure sector, contributing to an 18% year-to-date stock increase.
- Global IP Strategy: The acquisition of this U.S. patent further strengthens Beam Global's intellectual property portfolio globally, complementing its existing Chinese patent and solidifying its leadership position in hybrid renewable energy solutions.
- Importance of Energy Security: CEO Desmond Wheatley emphasized that the current geopolitical tensions highlight the vulnerabilities of traditional energy infrastructures, while Beam's optimized energy generation systems are designed to withstand such disruptions, addressing the growing demand for reliable electricity sources.
See More
Beam Global Deploys Six EV ARC Charging Systems in Long Beach
- Infrastructure Expansion: Beam Global has deployed six additional EV ARC™ solar-powered electric vehicle charging systems in Long Beach, California, with four supporting the city's electric vehicle fleet operations and two at Long Beach Airport, significantly enhancing the city's EV charging capacity and aiding the transition to electric fleet vehicles.
- Autonomous Charging Benefits: The EV ARC™ systems generate and store electrical energy on-site, enabling autonomous EV charging that can be rapidly deployed and relocated, thus avoiding the high costs and disruptions associated with conventional charging infrastructure installation and operation, thereby enhancing operational efficiency.
- Environmental Impact Reduction: By utilizing off-grid charging systems, the City of Long Beach can increase charging capacity where needed without adding demand on existing electrical infrastructure, effectively reducing vehicle emissions and supporting sustainability goals.
- Significant Cost Benefits: Beam Global's charging infrastructure products allow fleet operators to scale up charging infrastructure with the lowest total cost of ownership, reducing downtime and maintenance costs while improving working conditions for employees, further driving the electrification of fleet vehicles.
See More
Beam Global Q1 2026 Earnings Call Insights
- Backlog Growth: Beam Global's backlog increased by 50% in Q1 2026, rising from $6 million at the end of 2025 to $9 million, indicating strong signals of business acceleration.
- Revenue Decline Analysis: The first quarter revenue was $3.1 million, a 51% decrease year-over-year, primarily due to the deferral of two large orders and seasonal slowdowns in the European market, reflecting the company's vulnerability to demand fluctuations.
- International Market Performance: International customers accounted for 51% of revenues in Q1 2026, up from 25% in Q1 2025, indicating a 48% increase in revenue from non-government commercial entities, enhancing the company's market diversification capabilities.
- Future Growth Outlook: Management expressed optimism for Q2 2026, having already matched Q1 revenue, emphasizing the potential of the autonomous vehicle and drone markets, which are expected to contribute significantly to revenue.
See More
Beam Global Reports Q1 2026 Earnings with Mixed Results
- Revenue Decline: Beam Global reported Q1 2026 revenue of $3.1 million, a 51% decrease from the previous year, primarily due to order timing and reduced federal EV spending, indicating ongoing financial challenges for the company.
- Gross Loss: The company reported a gross loss of $0.4 million with a negative gross margin of 13.3%, contrasting with a gross profit of $0.5 million and a 7.9% margin in Q1 2025, highlighting the impact of fixed overhead allocations against lower product volumes.
- International Market Growth: International revenue comprised 51% of total revenues in Q1 2026, up from 25% in the prior year, indicating strong expansion potential in global markets, particularly with the first EV Arc sale in the Middle East.
- Financial Health Status: Despite the losses, Beam Global operates with no debt and has an unused $100 million line of credit, demonstrating strong financial health that can support future growth and investments.
See More
Beam Global Reports Q1 Earnings Miss
- Earnings Miss: Beam Global reported a Q1 GAAP EPS of -$0.33, missing estimates by $0.12, indicating ongoing challenges in profitability that may undermine investor confidence.
- Significant Revenue Decline: The company posted revenues of $3.1 million for Q1, a 50.9% year-over-year drop, falling short of expectations by $4.24 million, reflecting weak market demand and inadequate sales strategies that could pressure future cash flows.
- Increased Non-GAAP Net Loss: The non-GAAP net loss for Q1 2026 was $3.7 million, up from $3.0 million in Q1 2025, highlighting greater challenges in cost control and operational efficiency that may affect long-term sustainability.
- Weak Order Growth: Although weekly orders surged to $1.7 million, the overall performance failed to reflect this positive signal, indicating market uncertainty and difficulties in converting orders into revenue for the company.
See More
Beam Global to Report Q1 2026 Results on May 15
- Earnings Release Schedule: Beam Global will report its Q1 2026 financial results after market close on May 15, 2026, with management expected to provide insights into the company's financial health and recent developments, which may influence investor confidence.
- Conference Call Timing: Management will host a conference call at 4:30 p.m. ET on May 15, allowing for a review of financial results and a Q&A session, thereby enhancing direct interaction with investors and transparency.
- Dial-In Information: Participants are advised to dial in 10 minutes early, with a toll-free number of 1-844-739-3880 and an international number of 1-412-317-5716, ensuring smooth access to the call and improving the overall participation experience.
- Webcast Archive Availability: Following the call, Beam Global will provide a webcast archive on its website, facilitating access to information for investors who could not attend live, thereby enhancing the company's information disclosure convenience and timeliness.
See More
Beam Global Secures U.S. Patent, Enhancing Clean Energy Competitiveness
- Patent Innovation: Beam Global has secured U.S. Patent No. 12,573,851, which covers its tracking technology for hybrid solar and wind power systems, optimizing component interaction to prevent generation loss, thereby enhancing its competitive edge in the clean energy market.
- Positive Market Reaction: Following the patent announcement, Beam Global's shares rose over 2% in premarket trading, reflecting investor confidence in the company's innovative capabilities within the electric vehicle infrastructure sector, contributing to an 18% year-to-date stock increase.
- Global IP Strategy: The acquisition of this U.S. patent further strengthens Beam Global's intellectual property portfolio globally, complementing its existing Chinese patent and solidifying its leadership position in hybrid renewable energy solutions.
- Importance of Energy Security: CEO Desmond Wheatley emphasized that the current geopolitical tensions highlight the vulnerabilities of traditional energy infrastructures, while Beam's optimized energy generation systems are designed to withstand such disruptions, addressing the growing demand for reliable electricity sources.
See More
