Beam Global (BEEM) Q4 2025 Financial Results Summary

Release Date: April 9, 2026

Beam Global, a provider of sustainable infrastructure solutions for energy security and transportation, has reported its financial results for the fourth quarter and the full year ended December 31, 2025. Below is a summary of the key financial metrics and operational highlights.

Key Financial Metrics

• Revenues:
  • Q4 2025 revenue was $9.0 million, representing a 7% increase year-over-year compared to $8.5 million in Q4 2024.
  • Q4 revenue increased 56% over the third quarter of 2025’s revenue of $5.8 million.
  • For the full year ended December 31, 2025, revenues totaled $28.2 million, a decrease of 42% compared to $49.3 million in 2024.
  • Significant decline in revenues attributed to the cessation of U.S. federal government EV charging infrastructure orders.
• Gross Profit:
  • Q4 2025 gross margin was 17.8%, down from 26.3% in Q4 2024.
  • For the full year, gross profit was $3.5 million (13% margin), compared to $7.3 million (15% margin) in the previous year.
  • Excluding non-cash items, gross margin for the year was 23%, improving 2 percentage points over the previous year.
• Operating Expenses:
  • Total operating expenses rose to $31.1 million for the year, up from $19.0 million in 2024.
  • Excluding non-cash expenses, operating expenses reduced by 17% year-over-year to approximately $16.1 million.
• Net Loss:
  • Net loss from operations before income tax for the year was $27.4 million, compared to $11.4 million in 2024.
  • Non-GAAP loss from operations before income tax was $9.5 million, compared to a loss of $8.6 million for the same period in 2024.
• Working Capital:
  • Working capital as of December 31, 2025, was $8.9 million, down from $13.8 million at the end of 2024.

Operational Highlights

• Product Expansion:
  • 70% of Q4 2025 revenue came from newly introduced and expanded product lines.
  • Launched a patented autonomous wireless charging system for autonomous vehicles.
  • Deployed BeamBike™ e-bike sharing solutions in multiple regions.
• Joint Ventures and Contracts:
  • Introduced Beam Middle East, a joint venture with Platinum Group UAE, aimed at expanding sales across the Middle East and Africa.
  • Secured a purchase contract with Sourcewell to ease procurement for government agencies without competitive bidding.
• Certification and Patents:
  • Strengthened intellectual property with new patents and certifications in various technologies for battery management, solar tracking, and EV charging.
• Backlog:
  • Backlog stood at $6.0 million as of December 31, 2025, and increased to $9.0 million by March 31, 2026.

Additional Corporate Actions

• Dividends and Share Repurchase:
  • No quarterly dividend was declared or share repurchase announced during this reporting period.

Conclusion

Beam Global's fourth-quarter and full-year financial results for 2025 indicate a transition and strategic shift towards growing commercial sales and reducing reliance on government contracts. While the company experienced challenges with revenue declines due to changes in federal policy, its operational achievements and product expansions point towards a commitment to innovation and adaptability in various markets. As 2026 progresses, ongoing efforts in operational efficiency and market diversification will be crucial for the company's growth trajectory.

Note: All amounts in the following tables are in thousands.

Beam Global Consolidated Statements of Operations and Comprehensive Loss

(In thousands, except per share data)

Year Ended	December 31, 2025	December 31, 2024
Revenues	$ 28,236	$ 49,336
Cost of revenues	24,715	42,040
Gross profit	3,521	7,296
Gross margin %	12.5 %	14.8 %
Operating expenses	20,273	18,953
Impairment of goodwill	10,780	-
Loss from operations	(27,532)	(11,657)
Other income (expense)
Interest income	56	205
Other income	93	110
Interest expense	(26)	(34)
Total Other income (expense)	123	281
Loss before income tax expense	(27,409)	(11,376)
Income tax benefit	(406)	(94)
Net Loss	$(27,003)	$(11,282)
Net foreign currency translation benefit (expense)	1,182	(1,781)
Total Comprehensive Loss	$(25,821)	$(13,063)
Net Loss per share - basic/diluted	$(1.61)	$(0.77)
Weighted average shares outstanding - basic/diluted	16,814	14,621

Beam Global Consolidated Balance Sheets

(In thousands, except share and per share data)

Assets	December 31, 2025	December 31, 2024
Current assets
Cash	$ 969	$ 4,572
Accounts receivable, net of allowance	8,236	8,027
for credit losses of $939 and $259
Prepaid expenses and other current assets	2,070	2,243
Inventory, net	9,766	12,284
Total current assets	21,041	27,126
Property and equipment, net	13,093	13,704
Operating lease right of use assets	1,358	1,893
Goodwill	-	10,580
Intangible assets, net	7,127	8,037
Deposits	113	119
Total assets	$ 42,732	$ 61,459
Liabilities and Stockholders' Equity
Current liabilities
Accounts payable	$ 5,925	$ 8,959
Accrued expenses	2,885	2,462
Sales tax payable	843	195
Deferred revenue, current	1,800	847
Note payable, current	68	63
Contingent consideration, current	104	93
Operating lease liabilities, current	484	696
Total current liabilities	12,109	13,315
Deferred revenue, noncurrent	690	800
Note payable, noncurrent	131	199
Contingent consideration, noncurrent	-	216
Other liabilities, noncurrent	2,939	3,380
Deferred tax liabilities, noncurrent	1,203	1,290
Operating lease liabilities, noncurrent	815	971
Total liabilities	17,887	20,171
Stockholders' equity
Preferred stock, $0.001 par value, 10,000,000 authorized, none outstanding	$ -	$ -
as of December 31, 2025 and December 31, 2024
Common stock, $0.001 par value, 350,000,000 shares authorized,
19,124,163 and 14,835,630 shares issued	19	15
and outstanding as of December 31, 2025 and December 31, 2024, respectively.
Additional paid-in-capital	156,446	147,072
Accumulated deficit