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1. Company Snapshot

1.a. Company Description

Beam Global, a cleantech company, designs, develops, engineers, manufactures, and sells renewably energized products for electric vehicle (EV) charging infrastructure, outdoor media and branding, and energy security products.The company's product portfolio include EV ARC (electric vehicle autonomous renewable charger), an infrastructure product that uses integrated solar power and battery storage to provide a source of power for factory installed electric vehicle charging stations; Solar Tree DCFC, an off-grid, renewably energized, and single-column mounted smart generation and energy storage system to provide a 50kW DC fast charge to one or more electric vehicles or larger vehicles; and EV ARC DCFC, a DC fast charging system for charging EVs. It is also developing EV-Standard, a lamp standard, EV charging, and emergency power product that uses an existing streetlamp's foundation and a combination of solar, wind, grid connection, and onboard energy storage to provide curbside charging; and UAV ARC, an off-grid and renewably energized product and network used to charge aerial drone (UAV) fleets.The company was formerly known as Envision Solar International, Inc.


and changed its name to Beam Global in September 2020.Beam Global was incorporated in 2006 and is headquartered in San Diego, California.

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1.b. Last Insights on BEEM

Beam Global's recent performance was negatively impacted by a wider-than-expected loss in Q1 2025, with revenues declining year-over-year. The company's revenue growth slowed down, with a 41% increase in commercial revenues over Q1 2024, but still below expectations. Additionally, Beam Global's GAAP gross margin was 8%, a decrease from previous quarters, and its adjusted non-GAAP gross margin was 21%, net of non-cash costs. The company's net cash used in operations for Q1 2025 was $1.8 million, a slight increase from the previous quarter.

1.c. Company Highlights

2. Beam Global's Q3 2025 Earnings: Navigating Challenges and Opportunities

Beam Global reported revenues of $5.8 million for Q3 2025, a significant decrease compared to $40.9 million in Q3 2024, largely due to unfavorable order timing. The company's gross profit for the quarter was a negative $28,000, resulting in a gross margin loss of 0.5%. However, excluding noncash items, the gross profit was $700,000, and the gross margin was 13%. The net loss for Q3 2025 was $4.9 million, compared to a net profit of $1.3 million for the same period in 2024. The actual EPS came out at -$0.28, slightly worse than estimates of -$0.25.

Publication Date: Nov -20

📋 Highlights
  • Revenue Decline:: Q3 2025 revenue fell to $5.8M (vs. $40.9M in Q3 2024), driven by delayed order timing, though year-to-date revenue reached $19.2M.
  • Gross Margin Improvement:: Adjusted gross profit (excluding noncash items) rose to $700K (13% margin), compared to a $28K loss (-0.5% margin) in Q3 2025.
  • Operating Expense Reduction:: Operating expenses dropped by $1.5M YoY, with $600K saved on salaries, $300K on sales/marketing, and $300K on general/admin costs.
  • Backlog and Expansion:: $8M in backlog excludes delayed orders and Middle East potential, with new markets like Beam Middle East (50-50 partnership) and DRIFTx event participation boosting visibility.
  • Product Innovation:: Launched BeamBike (recurring revenue) and BeamFlight (autonomous drone charging), alongside battery tech advancements doubling energy density and lifespan for submersible drones.

Operational Highlights and Strategic Developments

Despite the challenging financial performance, Beam Global made significant strides in its operational and strategic initiatives. The company announced the opening of Beam Middle East, a 50-50 equity partnership with the Platinum Group, a multibillion-dollar conglomerate based in the UAE. This partnership is expected to drive growth in the Middle East, where there is a growing appetite for Beam Global's products, including EV ARC and BeamBike. Desmond Wheatley, President, CEO, and Chairman, highlighted the potential of BeamFlight, a patented autonomous drone charging system, and the company's battery team has developed a solution for a submersible drone, providing double the energy density and twice the lifespan.

Valuation and Growth Prospects

Analysts estimate Beam Global's revenue growth at 45.4% for the next year. Considering the current valuation metrics, the company's P/S Ratio stands at 0.97, and the EV/EBITDA is -1.58. The ROE is -96.55%, and the ROIC is -87.65%. These metrics indicate that the market is pricing in significant growth potential, but the current financial performance is a challenge. As Desmond Wheatley mentioned, "I believe the market will eventually recognize our good products and discipline, and our stock price will increase." The company's focus on delivering shareholder value and its diversified product portfolio and geographic expansion are expected to drive growth.

Outlook and Conclusion

Beam Global is navigating through a challenging period, but the company's strategic initiatives and operational developments are expected to drive growth in the coming quarters. The delayed order from a customer is expected to be fulfilled, and the partnership with the Platinum Group is likely to contribute to revenue growth. With a focus on improving products and increasing opportunities, Beam Global is well-positioned to capitalize on the growing demand for its products and technologies.

3. NewsRoom

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Royal Jordanian Armed Forces Deploy BeamWell™ Desalination, Energy and E-Mobility Product at Royal Medical Services Facility

Dec -04

Source: globenewswire.com

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City of Dallas Orders Additional Beam Global EV ARC™ Systems

Nov -19

Source: globenewswire.com

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Beam Global (BEEM) Q3 2025 Earnings Call Transcript

Nov -15

Source: seekingalpha.com

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Beam Global (BEEM) Reports Q3 Loss, Lags Revenue Estimates

Nov -14

Source: zacks.com

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Beam Global Announces Third Quarter 2025 Operating Results

Nov -14

Source: globenewswire.com

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Beam Global to Release Q3 2025 Operating Results, Conference Call Scheduled for November 14, 2025 at 4:30 p.m. ET

Nov -12

Source: globenewswire.com

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Beam Global Awarded Sourcewell Cooperative Contract

Nov -12

Source: globenewswire.com

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Eve Air Mobility ($EVEX) | Intuitive Machines ($LUNR) | Beam Global ($BEEM) | Vision Marine ($VMAR)

Nov -04

Source: youtube.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (14.31%)

6. Segments

Energized Infrastructure

Expected Growth: 14.07%

Beam Global's Energized Infrastructure growth is driven by increasing adoption of clean energy solutions, government incentives for sustainable infrastructure, and rising demand for electric vehicle charging infrastructure. Additionally, the company's innovative products and strategic partnerships have enabled it to capitalize on the growing need for resilient and efficient energy systems.

Shipping and Handling

Expected Growth: 22.17%

Beam Global's 22.17% growth in Shipping and Handling is driven by increasing demand for e-commerce, expansion into new markets, and strategic partnerships. Additionally, investments in logistics infrastructure and technology have improved operational efficiency, leading to higher volumes and revenue growth.

Discounts and Allowances

Expected Growth: 4.83%

Beam Global's 4.83% growth in Discounts and Allowances is driven by strategic pricing strategies, increased promotional activities, and effective supply chain management, resulting in higher sales volumes and revenue. Additionally, the company's focus on customer retention and loyalty programs has contributed to the growth, as well as its ability to negotiate better deals with suppliers.

Professional Services

Expected Growth: 8.97%

Beam Global's Professional Services segment growth of 8.97% is driven by increasing demand for digital transformation, cloud adoption, and cybersecurity services. Additionally, the company's strategic partnerships, expansion into new markets, and investments in emerging technologies such as AI and IoT have contributed to this growth.

Maintenance

Expected Growth: 10.27%

Beam Global's 10.27% growth in Maintenance is driven by increasing adoption of electric vehicle (EV) charging infrastructure, rising demand for energy storage systems, and growing need for sustainable energy solutions. Additionally, government incentives and investments in clean energy initiatives are fueling the growth.

7. Detailed Products

Evolve

Evolve is a line of electric vehicle (EV) charging systems designed for various applications, including commercial, residential, and public spaces.

Beam Up

Beam Up is a line of solar-powered, off-grid EV charging systems designed for remote or hard-to-reach areas.

Beam One

Beam One is a line of compact, all-in-one EV charging systems designed for residential and commercial applications.

Arc

Arc is a line of energy storage systems designed to optimize energy usage and reduce peak demand for homes and businesses.

Skid

Skid is a line of pre-fabricated, modular EV charging systems designed for large-scale deployments.

8. Beam Global's Porter Forces

Forces Ranking

Threat Of Substitutes

Beam Global's products are moderately substitutable, as customers have some alternatives, but they are not easily replaceable.

Bargaining Power Of Customers

Beam Global's customers have limited bargaining power, as they are individual consumers with limited negotiating power.

Bargaining Power Of Suppliers

Beam Global's suppliers have moderate bargaining power, as they are numerous and can negotiate prices, but are not dominant.

Threat Of New Entrants

The threat of new entrants is high, as the industry is attractive and has low barriers to entry, making it easy for new companies to enter.

Intensity Of Rivalry

The intensity of rivalry is high, as the industry is highly competitive, with many players competing for market share.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 1.62%
Debt Cost 3.95%
Equity Weight 98.38%
Equity Cost 11.88%
WACC 11.75%
Leverage 1.65%

11. Quality Control: Beam Global passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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SunPower

A-Score: 4.5/10

Value: 9.6

Growth: 0.9

Quality: 6.8

Yield: 0.0

Momentum: 10.0

Volatility: 0.0

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Shoals Technologies

A-Score: 3.9/10

Value: 1.2

Growth: 7.9

Quality: 5.0

Yield: 0.0

Momentum: 8.5

Volatility: 1.0

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SPI Energy Co

A-Score: 3.8/10

Value: 9.0

Growth: 3.7

Quality: 2.9

Yield: 0.0

Momentum: 7.0

Volatility: 0.0

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Array Technologies

A-Score: 3.8/10

Value: 6.9

Growth: 3.7

Quality: 2.9

Yield: 0.0

Momentum: 8.0

Volatility: 1.0

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Beam

A-Score: 3.6/10

Value: 8.4

Growth: 6.8

Quality: 4.0

Yield: 0.0

Momentum: 1.5

Volatility: 1.0

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Sunnova Energy

A-Score: 2.6/10

Value: 8.0

Growth: 4.4

Quality: 2.8

Yield: 0.0

Momentum: 0.5

Volatility: 0.0

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

1.9$

Current Price

1.9$

Potential

-0.00%

Expected Cash-Flows