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Beam Global (BEEM)
NASDAQ:BEEM
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Beam Global
(NASDAQ:BEEM)
45Neutral
Positive Factors
Electrification trend
Beam Global remains favorably positioned to benefit from the global electrification trend in the mid-to-long term.
Global expansion
Beam Global is diversifying into Europe, Africa, and the Middle East and expanding its product portfolio to address challenges in the U.S. market.
Profit margins
Management has highlighted improvements in gross margins, with contributions from each incremental unit improving to 40-50%, supported by price increases and cost reductions.
Negative Factors
Backlog and revenue estimates
The backlog has decreased significantly, putting further pressure on forward revenue estimates.
Product visibility
Visibility for BEEM's EV ARC product is likely to remain low without more regulatory clarity.
Revenue performance
The price target for Beam Global has been lowered to $8.00 from $30.00 due to lower-than-expected revenue performance and headwinds from governmental customers in the U.S.
Beam Global (BEEM) vs. S&P 500 (SPY)
Market Cap
$30.14M
Dividend YieldN/A
Average Volume (3M)106.55K
Price to Earnings (P/E)―
Beta (1Y)1.56
Revenue Growth10.25%
EPS Growth52.91%
CountryUS
Employees298
SectorTechnology
Sector Strength42
IndustrySolar
Share Statistics
EPS (TTM)-0.81
Shares Outstanding14,773,901
10 Day Avg. Volume71,691
30 Day Avg. Volume106,546
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)0.54
Price to Cash Flow (P/CF)-2.80
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$8.00Price Target Upside286.47% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering0
Beam Global Business Overview & Revenue Model
Company DescriptionBeam 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.
How the Company Makes MoneyBeam Global generates revenue through the sale and deployment of its solar-powered electric vehicle charging stations and energy storage systems. The company’s primary revenue streams include direct sales to businesses and government entities seeking sustainable energy solutions, as well as potential service agreements for the maintenance and operation of its infrastructure. Beam Global may also benefit from strategic partnerships and collaborations with organizations in the electric vehicle and renewable energy sectors, which can enhance its market reach and drive sales. Additionally, government incentives and increasing demand for clean energy solutions contribute to the company’s earnings potential.
Beam Global Financial Statement Overview
Summary
Beam Global shows potential with revenue growth and a strong equity base, but ongoing losses and cash flow challenges pose significant risks. The company needs to improve profitability and cash flow generation for future stability.Income Statement
Beam Global showed some improvement in gross profit margin over the TTM period, reaching 9.0%, compared to a historical negative margin. However, the company continues to operate at a loss with a net profit margin of -19.3% and an EBIT margin of -18.3%, indicating challenges in achieving profitability. Revenue growth is volatile, with a significant increase from 2022 to 2023 but a decline in the TTM. Stability and profitability remain concerns.38
Negative
Balance Sheet
The balance sheet reflects a solid equity position with a debt-to-equity ratio of 0.05, indicating low leverage. However, the return on equity is negative at -25.3%, reflecting ongoing losses. The equity ratio is robust at 69.0%, but the company needs to improve its profitability to leverage its strong equity base effectively.45
Neutral
Cash Flow
Beam Global's cash flow statement highlights negative operating and free cash flows, with a slight improvement in the TTM. The operating cash flow to net income ratio is 0.22, indicating cash flow challenges. Free cash flow growth is negative, reflecting ongoing operational struggles. The company needs to enhance cash generation capabilities to support future growth.40
Negative
| Breakdown | |||||
| TTM | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 60.88M | 67.35M | 22.00M | 9.00M | 6.21M | 5.11M | Gross Profit |
| 5.48M | 1.20M | -1.67M | -971.00K | -711.00K | -153.77K | EBIT |
| -11.12M | -16.26M | -19.72M | -6.60M | -5.21M | -3.27M | EBITDA |
| -7.47M | -14.17M | -18.56M | -6.47M | -5.18M | -3.17M | Net Income Common Stockholders |
| -11.73M | -16.06M | -19.68M | -6.60M | -5.21M | -3.93M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 2.17K | 10.39M | 1.68M | 21.95M | 26.70M | 3.85M | Total Assets |
| 315.65K | 77.64M | 37.73M | 30.66M | 32.90M | 7.29M | Total Debt |
| 1.16M | 1.27M | 1.70M | 2.08M | 2.43M | 572.88K | Net Debt |
| 1.16M | -9.12M | 17.00K | -19.87M | -24.27M | -3.28M | Total Liabilities |
| 3.24M | 28.10M | 14.52M | 4.68M | 3.75M | 1.46M | Stockholders Equity |
| -2.92M | 49.54M | 23.21M | 25.98M | 29.15M | 5.82M |
| Cash Flow | Free Cash Flow | ||||
| -3.20M | -14.36M | -19.11M | -6.99M | -4.50M | -4.94M | Operating Cash Flow |
| -2.59M | -13.31M | -18.11M | -6.41M | -4.14M | -4.83M | Investing Cash Flow |
| -8.48M | -5.71M | -1.81M | -582.14K | -358.90K | -109.59K | Financing Cash Flow |
| 1.21M | 27.72M | -342.00K | 2.24M | 27.35M | 8.54M |
Beam Global Technical Analysis
Negative
2.07
Price Trends
2.38
Negative
2.95
Negative
4.11
Negative
Market Momentum
-0.09
Negative
42.28
Neutral
21.34
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BEEM, the sentiment is Negative. The current price of 2.07 is below the 20-day moving average (MA) of 2.16, below the 50-day MA of 2.38, and below the 200-day MA of 4.11, indicating a bearish trend. The MACD of -0.09 indicates Negative momentum. The RSI at 42.28 is Neutral, neither overbought nor oversold. The STOCH value of 21.34 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BEEM.
Beam Global Risk Analysis
Beam Global disclosed 41 risk factors in its most recent earnings report. Beam Global reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Beam Global Peers Comparison
Overall Rating
UnderperformOutperform
Sector (57)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $8.22B | 84.52 | 11.30% | ― | -41.92% | -76.24% | |
57 Neutral | $20.89B | 10.40 | -13.99% | 2.52% | 4.47% | -23.34% | |
54 Neutral | $92.85M | ― | -69.69% | ― | -10.24% | 37.82% | |
48 Neutral | $814.82M | ― | 19.14% | ― | 59.57% | 14.59% | |
45 Neutral | $30.14M | ― | -24.26% | ― | 10.25% | 52.91% | |
45 Neutral | $97.05M | ― | -18.96% | ― | 11.09% | 0.41% | |
43 Neutral | $1.31B | ― | -90.88% | ― | -29.45% | -10.79% |
* Technology Sector Average
Performance Comparison
BEEM
Beam Global
2.07
-4.45
-68.25%
ENPH
Enphase Energy
62.52
-56.08
-47.28%
FCEL
Fuelcell Energy
4.62
-29.28
-86.37%
PLUG
Plug Power
1.32
-1.91
-59.13%
BLNK
Blink Charging Co
0.96
-1.87
-66.08%
EVGO
EVgo
2.65
0.44
19.91%
Beam Global Earnings Call Summary
Earnings Call Date: Mar 26, 2025 | % Change Since: -7.17% | Next Earnings Date: May 27, 2025
Earnings Call Sentiment Neutral
The earnings call presented a mixed picture, with strong revenue performance and international expansion being key positives. However, challenges such as federal order declines and certification delays were significant concerns.Highlights
Revenue and Growth
Q3 revenues were $11.5 million, the second highest third quarter revenue in the history of Beam Global. 47.9% of revenue was from commercial customers, an increase of 80% over Q3 2023.
Improved Gross Margin
GAAP gross margin improved to 10.7% from 1.7% in Q3 2023, a 9 percentage point increase. Non-GAAP gross margin would have been 17.6% without noncash items.
International Expansion
Beam Global expanded its geographic coverage and released new products, with a pipeline of over $200 million. Significant efforts are being made in Europe, Africa, and the Middle East.
New Product Lines
Introduction of BeamSpot, BeamBike, and BeamWell products. BeamPatrol was launched for law enforcement.
Strategic Partnerships and Sponsorships
Agreement with VINCI Group for EV ARC systems at Belgrade Airport, with revenue from sponsorship branding.
Lowlights
Federal Orders Decline
Federal revenue declined due to uncertainty with the new administration, contributing to the year-over-year revenue drop.
Certification Delays
Delays in UL certification for energy storage solutions are impacting sales, pushing some purchase orders to the right.
Increased Operating Expenses
Operating expenses increased by $3.3 million year-over-year, mainly due to Beam Europe, facility expansion, and acquisition costs.
Cash Position
Cash balance decreased to $4.9 million from $10.4 million at the end of Q4 2023, due to acquisition payments.
Revenue Dependency
Revenue still susceptible to large swings due to order timing and customer concentration.
Company Guidance
During the Beam Global Q3 2024 earnings call, the company reported a third-quarter revenue of $11.5 million, marking the second highest third-quarter revenue in its history, with 47.9% coming from commercial customers, an 80% increase from Q3 2023. The company's nine-month revenue was $41 million, with a prospective customer pipeline exceeding $200 million. They maintained a backlog of $10.6 million as of November 7, split between the U.S. ($7 million) and Europe ($3.6 million). Gross margins improved significantly from 1.7% in Q3 2023 to 10.7%, with non-GAAP adjustments indicating a potential margin of 17.6%. Operating expenses for Q3 2024 were a $50,000 credit, primarily due to adjustments related to the Amiga acquisition, while the year-over-year increase in operating expenses was $3.3 million. The company achieved a net income of $1.3 million for Q3 2024 compared to a $3.6 million loss in Q3 2023, though the nine-month net loss was $6.7 million, with an adjusted non-GAAP net loss of $5.8 million. Beam Global's cash balance decreased to $4.9 million, following acquisitions including a $2.7 million payment for Amiga. The company remains debt-free, aside from minor auto leases, and retains a $100 million credit line.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.