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SAN DIEGO - The City of Dallas has ordered seven additional EV ARC sustainable electric vehicle charging systems from Beam Global (NASDAQ:BEEM), marking the city's third deployment of these systems, according to a press release issued Wednesday. The news comes as Beam's stock trades at $1.81, down over 54% in the past year, though InvestingPro data shows the company maintains a solid financial foundation with more cash than debt on its balance sheet.
The purchase, made through the U.S. General Services Administration Multiple Award Schedule Contract, will support Dallas's growing electric vehicle fleet, including electric pickup trucks.
The EV ARC systems generate and store their own electricity and can be deployed without construction, electrical work, or utility connections, providing off-grid charging capabilities and emergency backup power.
"Our recently renewed GSA contract, and our recently announced Sourcewell contract, enable government organizations to acquire Beam Global solutions without having to go through lengthy and complex bidding processes," said Desmond Wheatley, CEO of Beam Global.
The order aligns with Dallas's climate action plan, which aims for all new light-duty vehicles and transit buses to be fully electric by 2030 and for its entire fleet to be 100% electric by 2040. The city has set a target of carbon neutrality by 2050.
This represents the fourth overall Beam Global purchase for the City of Dallas. The transportable, renewable charging solutions are designed to support the city's transition to zero-emission transportation while providing energy resilience.
Beam Global, headquartered in San Diego, develops sustainable infrastructure products focused on clean energy and transportation solutions.
In other recent news, Beam Global reported its third-quarter 2025 financial results, which did not meet market expectations. The company announced an earnings per share (EPS) of -$0.28, missing analysts' forecast of -$0.25. Revenue for the quarter was $5.8 million, significantly below the anticipated $8.77 million. This revenue shortfall has raised concerns among investors about the company's financial health. Despite these results, no new analyst upgrades or downgrades have been reported. The latest figures highlight the challenges Beam Global faces in meeting its financial targets. Investors are closely watching the company's future performance in light of these recent developments.
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