Beam Global (BEEM) investor relations material

Executive summary

• Revenues for the first half of 2025 were $13.4M, down 54% year-over-year, but Q2 revenue grew 12% sequentially to $7.1M, with a major shift to commercial (60%) and international (37%) customers.

• Expanded global presence through a joint venture in the Middle East, new partnerships in Europe and Australia, and a new office in Serbia.

• Maintained a debt-free balance sheet, improved cash position to $3.4M at quarter-end, and secured a $100M undrawn credit line.

• Adapted business model to offset the loss of federal government sales by increasing commercial and international sales.

• Recorded a non-cash goodwill impairment of $10.8M–$11M in 2025 due to share price decline, not operational performance.

Financial highlights

• Q2 2025 revenues were $7.1M, a 52% decrease year-over-year, with gross profit of $1.4M (20%–20.3% margin), and adjusted gross profit of $2.1M (30% margin).

• Operating expenses reduced by 17% year-over-year to $5.9M in Q2 2025.

• Net loss for Q2 2025 was $4.3M, improved from $4.9M in Q2 2024; adjusted net loss was $1.4M, a 20% improvement.

• Cash at June 30, 2025 was $3.4M, up from $2.5M sequentially but down from $4.6M at year-end 2024.

• Backlog at the end of Q2 stood at $7M.

Outlook and guidance

• Management expects continued revenue growth and further gross margin improvement as fixed overhead absorption increases and new products reach broader markets.

• Anticipates expansion of battery business into Europe and the Middle East, with $2.5M in defense contracts to be recognized by year-end 2025.

• Profitability is expected as revenues grow and overhead is leveraged, though near-term losses are anticipated.