Backlog Growth
Backlog increased 50% during the quarter from $6.0M at 12/31/25 to $9.0M at 3/31/26, with >50% attributable to smart city applications, ~33% to energy storage and the balance to EV ARC and related products.
Q2 Early Momentum
Management reported Q2 2026 revenue through the call date has already exceeded total Q1 revenue, indicating acceleration and converted orders that had shifted from Q1 to Q2.
International and Commercial Diversification
International customers comprised 51% of Q1 revenues (vs 25% in Q1 2025). Revenues from nongovernment commercial entities rose 48% year-over-year and represented 78% of total revenues, showing geographic and customer-type diversification.
Key Wins and Deployments
Operational wins included first EV ARC sale for public charging in Abu Dhabi, largest residential EV ARC orders to date in New York, selection to supply battery systems for drones, and record Beam Europe smart city orders of $1.7M in a single week across Romania, Croatia, Montenegro, Serbia and Italy (about double the strongest weekly order volume in 2025).
New Products, IP and Market Entry
Launched a patented autonomous wireless charging system for autonomous vehicles, received additional U.S. and European patents (including for battery technology), and expanded into Middle East and Africa (Beam Middle East), supporting new addressable markets like autonomy, drones and off-grid deployments.
Unit Economics and Manufacturing Leverage
Management reported improving unit economics running >30% across the portfolio (management suggested EV ARC unit economics nearer ~40% when produced in Serbia) and stressed operating leverage as fixed overhead is diluted with higher volumes.
Balance Sheet and Liquidity
Company operated with no debt (except vehicle leases), cash increased by $1.0M during the quarter, working capital of $6.2M at 3/31/26, and an unused $100M credit facility available to fund operations.