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SAN DIEGO - Beam Global (NASDAQ:BEEM), a provider of infrastructure solutions for transportation electrification and energy security, reported a 21% increase in energy storage solutions (ESS) revenue for the first half of 2025 compared to the same period in 2024. According to InvestingPro data, the company maintains a strong balance sheet with cash exceeding debt and liquid assets covering short-term obligations.
The company also received a purchase order worth approximately $2 million from one of its largest ESS customers, with revenue expected to be recognized by the end of 2025, according to a press release statement.
Beam Global’s ESS business growth has been driven by repeat orders from existing customers and the addition of three new clients, including a Fortune 500 automotive company.
CEO Desmond Wheatley said the company’s efforts to diversify revenue opportunities are yielding results, with growth in Europe and the Middle East, along with an expanded product portfolio.
Beam’s energy storage solutions utilize patented PCC technology that enables more power in smaller, lighter batteries with advanced thermal management capabilities that mitigate thermal runaway propagation.
The company operates in the United States, Europe, and the Middle East, developing infrastructure for electric vehicle charging, energy storage, and energy security.
According to data cited in the company statement, the ESS market is projected to grow from $7.8 billion in 2024 to $25.6 billion in 2029, representing a compound annual growth rate of 26.9%. While analysts anticipate sales challenges in the current year, discover more detailed insights and 12 additional ProTips for BEEM with InvestingPro.
In other recent news, Beam Global reported its Q1 2025 earnings, revealing a substantial decline in revenue and a greater-than-anticipated net loss. The company’s revenues decreased by 50% year-over-year, amounting to $6.3 million. Beam Global also reported a net loss of $15.5 million, which was affected by non-cash expenses, including a $10.8 million goodwill impairment. These financial results were disclosed on May 15. The earnings report highlighted the challenges Beam Global is currently facing. There was no mention of any mergers or acquisitions in the recent updates. Additionally, there were no reports of any analyst upgrades or downgrades following the earnings announcement. Investors are likely monitoring these developments closely as they assess the company’s financial health and future prospects.
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