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SAN DIEGO - Beam Global (NASDAQ:BEEM), a company specializing in sustainable infrastructure solutions for transportation electrification, has reported a significant 23% increase in quarter-over-quarter orders for its solar-powered EV ARC charging units. This surge in demand comes despite a noted decrease in federal procurement, indicating a pivot in the company’s customer base toward commercial entities. According to InvestingPro analysis, BEEM appears undervalued at its current market cap of $22.2 million, with a strong balance sheet showing more cash than debt and a current ratio of 2.04.
The recent growth in orders spans across various sectors, including municipal and county governments, state and federal agencies, environmental organizations, and private companies in construction, clean energy, and technology. This diverse range of clients is spread across multiple states such as California, Arizona, Colorado, Florida, Michigan, and Washington. Despite this diversification, InvestingPro data reveals analysts anticipate a 25% revenue decline in the current year, highlighting the importance of monitoring the company’s execution of its strategic shift.
Desmond Wheatley, CEO of Beam Global, attributed this upward trend to the company’s strategic shift in focus towards commercial customers following recent political changes and a continued commitment to federal clients. He also highlighted the parallel between the increase in orders and the growth rate of electric vehicle sales in the U.S., suggesting a corresponding rise in the need for EV charging infrastructure.
In the context of global electric vehicle sales, which have climbed by 29% in 2025, with North America experiencing a 16% increase, Beam Global’s performance is indicative of the broader industry trend towards electric mobility. The company’s emphasis on innovation and sustainability positions it as a key player in supporting the transition to cleaner transportation options.
Beam Global operates both in the U.S. and internationally, with a focus on rapidly deployable and scalable EV charging solutions, energy storage, and energy security. The company’s approach to clean technology aims to meet the climate and operational goals of various organizations.
The information for this article is based on a press release statement from Beam Global. For a comprehensive analysis of BEEM’s financial health, growth prospects, and 12 additional exclusive ProTips, visit InvestingPro, where you’ll find detailed research reports and real-time metrics that help you make informed investment decisions.
In other recent news, Beam Global reported a significant increase in revenue for Q4 2024, reaching $49.3 million, although it fell short of meeting its expected earnings per share (EPS) forecast. The company saw improved gross margins of 15%, up from 2% in the previous year, reflecting enhanced manufacturing efficiencies and pricing strategies. Despite these financial strides, Needham maintained a Hold rating on Beam Global, citing missed revenue expectations due to uncertainties among government clients, a crucial segment that contributes approximately 60% to the company’s projected 2024 revenues.
Additionally, Beam Global has undergone a change in its independent accounting firm, appointing CBIZ CPAs P.C. following the resignation of Marcum LLP. This transition aims to uphold the company’s commitment to high financial reporting standards, although material weaknesses in internal controls over financial reporting for 2024 and 2023 were acknowledged. The company is also actively exploring new product lines beyond its core EV ARC product, although the impact and timing of these new revenue streams remain uncertain.
Furthermore, Beam Global is expanding its geographic reach, particularly in Europe, the Middle East, and Africa, to offset challenges in the U.S. federal market. Despite these efforts, revenue visibility remains low, influenced by the political climate regarding renewable energy and electric vehicle adoption. Beam Global’s strategic moves, including new product launches and geographic expansion, are part of its broader efforts to diversify and strengthen its market position amidst ongoing uncertainties.
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