Beam Global

What they do

Beam designs, engineers and manufactures renewable-energy-powered infrastructure that can be deployed without construction or electrical work, primarily the EV ARC and BeamSpot products that replace grid-tied charger installation. It also builds battery management systems and thermal packaging that make commodity battery cells safer and longer lasting, and mass produces streetlighting and street furniture in Serbia, sold in 18 nations. It does not sell EV charging itself or compete with utilities; it sells the infrastructure that enables chargers, including integrated emergency power panels.

Revenue drivers

• EV ARC and BeamSpot off-grid charging infrastructure — Core product line of rapidly deployed solar-powered chargers sold through federal GSA and Sourcewell procurement channels; recent orders include 10 systems for Dallas (its fourth order), 10 systems plus an ARC Mobility trailer for Stanislaus County, and 6 systems for Long Beach.
• European operations — Management states European operations now generate approximately half of revenues, including recurring-revenue EV ARC deployments such as a sponsorship-funded rental in Serbia and deployments in Barcelona, Madrid and Montenegro.
• Advanced battery solutions — Battery management systems and thermal packaging extended into drones, military systems, AI-driven robotics, industrial applications and wildfire detection; the company received more than $0.5 million in drone and autonomous robotics battery orders within a single week.
• Smart Cities street furniture and power electronics — Streetlighting and street furniture mass produced in Serbia, with deployments in more than 30 cities across five nations, increasingly bundled with power electronics, energy storage, sensing and reporting.

Recent performance

Second quarter 2026 revenue was $8.6 million, up 174% from $3.1 million in the first quarter of 2026 and 21% above $7.1 million in the second quarter of 2025. Gross margin was 17.8%, or 26.2% excluding non-cash depreciation and amortization, which the company described as a 31 percentage point improvement over the first quarter. Backlog was $5.4 million as of June 30, 2026, and operating expenses were reduced by more than $400,000. Full-year revenue has fallen each year since 2023, from $67.4 million to $49.3 million in 2024 and $28.2 million in 2025, with a 2025 net loss of $27.0 million. At June 30, 2026 the company reported $1.0 million of cash and $20.3 million of shareholder equity.

Strategy

Beam is repositioning around its battery and power-electronics technology platform, targeting drones, AI data centers, robotics, autonomous vehicles and smart cities rather than only EV charging. It has relocated manufacturing from San Diego, California to Yuma, Arizona, which it says saves approximately $2.7 million in rent over the lease term, and continues cost-cutting with operating expenses down over $400,000. It is expanding internationally, with European operations now near half of revenue and product showcased at Make it in the Emirates 2026 in Abu Dhabi. It is also building patent coverage, having received a European patent for Smart Battery Solutions and a U.S. patent for an integrated wind and solar power generation system, and had a battery design for AI infrastructure accepted for presentation at IECON 2026.

Risks

• Persistent losses and thin liquidity — The company recorded a $27.0 million net loss in 2025, used $10.5 million of operating cash in 2025, and held only $1.0 million of cash at June 30, 2026.
• Volatile and declining revenue base — Annual revenue fell from $67.4 million in 2023 to $28.2 million in 2025, and quarterly revenue swung from $9.0 million in 2025-12-31 to $3.1 million in 2026-03-31 and back to $8.6 million.
• Customer credit exposure — The allowance for credit losses rose to $2.779 million at June 30, 2026 from $0.939 million at December 31, 2025 against $6.741 million of net accounts receivable.
• Reliance on incentives, procurement channels and international markets — The company's own risk factors cite loss of tax incentives for solar power, insufficient revenues to cover operating costs, raw material tariffs, and currency or foreign regulation impacts, while sales depend on U.S. federal and cooperative procurement channels and on European and Middle East demand.

Outlook

Management points to a $5.4 million backlog at June 30, 2026, $100 million of unused line of credit and no debt as capacity to fund growth. It expects the Yuma manufacturing move and other cost reductions to lower operating costs, and describes pent-up Middle East demand it believes will convert when regional disruption ends. CEO Desmond Wheatley stated the company intends to become increasingly important to drones, autonomous vehicles, robots and data center energy demand, but gave no specific revenue or earnings guidance.