Beam Global (BEEM -1.65%), a company focused on renewable energy-powered electric vehicle charging and energy storage, released its earnings for the second quarter of fiscal 2025 on August 14, 2025. The headline news was a GAAP revenue figure of $7.1 million, which missed analyst expectations of $7.25 million by 2.1%. Despite this shortfall, profitability metrics improved, with a 17.6% narrowing of losses per share to $(0.28) (GAAP) compared to Q2 2024, The quarter marked sequential growth in GAAP revenue, a rare bright spot after previous declines.
| Metric | Q2 2025 | Q2 2025 Estimate | Q2 2024 | Y/Y Change |
|---|---|---|---|---|
| EPS (GAAP) | $(0.28) | $(0.30) | $(0.34) | 17.6 % |
| Revenue (GAAP) | $7.1 million | $7.25 million | $14.8 million | (52.0 %) |
| Gross Margin (GAAP) | 20 % | 16 % | 4.0 pp | |
| Gross Margin (Non-GAAP) | 30 % | 18 % | 12.0 pp | |
| Operating Expenses (GAAP) | $5.9 million | $7.1 million | (17.0 %) | |
| Net Loss (GAAP) | $(4.3 million) | $(4.9 million) | 12.2 % |
Source: Analyst estimates provided by FactSet. Management expectations based on management's guidance, as provided in Q1 2025 earnings report.
Company Overview and Strategic Focus
Beam Global designs and manufactures solutions for off-grid electric vehicle charging and energy storage. Its signature products include the EV ARC™ solar-powered charging station, BeamBike™ e-bike chargers, and BeamWell portable energy/water systems. These leverage solar technology and integrated batteries to provide rapid-deployment, resilient power infrastructure, especially where grid connections are impractical or unreliable.
The company's recent focus is on diversifying beyond U.S. federal contracts, emphasizing growth in commercial and international markets. It aims to capture new business in fast-growing regions such as Europe and the Middle East. Core to its strategy is offering scalable, rapid-deployment infrastructure that supports energy security and disaster preparedness, without directly competing with major charging networks or utilities.
What Shaped the Quarter: Revenue Mix, Margins, and Market Expansion
The second quarter saw an important shift in Beam's business mix. Year-to-date, commercial clients made up 60% of revenue, up from 24% in the first half of 2024. International sales also surged, accounting for 37% of total revenue for the six months ended June 30, 2025, up from 15% in the same period in 2024. The firm shipped EV ARC units and other infrastructure products to 13 U.S. states, as well as to European locations.
Top-line results (GAAP revenue) improved sequentially by 12% from Q1 to Q2 2025, but missed GAAP revenue expectations and trailed sharply behind the $14.8 million (GAAP) achieved in Q2 2024. This performance follows a reduction in U.S. federal government orders, forcing Beam to accelerate its shift towards commercial and private sector clients. Bookings in the energy storage systems business included $2.5 million in new defense contracts, which are scheduled to be recognized as revenue by the end of 2025. A major addition was three new ESS commercial customers, including a global automotive firm.
Gross margin (GAAP) rose to 20%, a 4 percentage point increase year-over-year, and reached 30% on a non-GAAP basis when excluding non-cash items like depreciation and amortization. This improvement reflects benefits from recent acquisitions. Operating expenses were cut 17% over the prior-year quarter, landing at $5.9 million. This produced a net loss (GAAP) of $4.3 million, narrowed from $4.9 million in Q2 2024.
Beam Global continued investing in scaling manufacturing at its European facility. The launch of a 530 kW solar array at its European location helped reduce energy costs and advance sustainability goals. A new joint venture, Beam Middle East LLC, and expanded distributor partnerships supported global reach, highlighted by initial deployments in Romania, Croatia, and the DACH region (Germany, Austria, Switzerland). The period also saw major production wins, with energy storage systems (ESS) gaining traction among defense, automotive, and industrial customers.
The company's product suite expanded alongside these efforts. Its EV ARC™ solar EV charging stations enable charging without electrical construction, supporting rapid, disaster-resistant installations. The energy storage systems business, bolstered by recent contracts, targets applications in defense and industrial sectors where reliability is essential. BeamBike™ and BeamPatrol solutions tap e-bike and law enforcement charging needs, diversifying its market base and drawing interest from resort and city clients.
The quarter included tangible moves to build operational flexibility. Inventory and accounts receivable levels declined compared to year-end (December 31, 2024 to June 30, 2025), indicating improved collections and working capital management. Cash balance rose $0.9 million from Q1, helped by disciplined operating spending; the firm also continued to operate debt-free, maintaining a $100 million credit line for liquidity.
BEEM does not currently pay a dividend.
Looking Ahead: Guidance and What to Watch
Management did not issue specific financial guidance for the next quarter or the full year. However, management commentary emphasizes an expectation of future revenue growth and improved gross margins, as stated in guidance for Q1 2025. The firm pointed to its $7 million backlog as of quarter-end. and highlighted that $2.5 million in ESS contracts should convert to revenue by year-end 2025.
Without detailed quantitative guidance, investors are left to track several key trends in the coming periods. These include conversion of commercial and international backlog into recognized sales, sustained margin progress, and the ramp up of new product offerings. Liquidity remains in focus given ongoing losses and a limited cash balance, though operational discipline and an unused credit facility provide some comfort. Execution in recently entered markets and the ability to scale manufacturing to meet larger orders will also be critical to monitor in the second half of the year.
Revenue and net income presented using U.S. generally accepted accounting principles (GAAP) unless otherwise noted.
