Beam global announces record first quarter 2024 operating results

San diego, may 21, 2024 (globe newswire) -- beam global , (nasdaq: beem ), (the “company”), the leading provider of innovative and sustainable infrastructure solutions for the electrification of transportation and energy security, today announced its first quarter results for the period ended march 31, 2024. q1 2024 financial and recent company highlights record first quarter revenue of $14.6 million, 12% increase over q1 2023 record gross profit with 10.2% gross margin backlog of $20 million on march 31, 2024; pipeline of over $160 million debt free and $100 million line of credit available and unused 310% increase in q1 ev charging new orders from business/commercial sector over q1 2023 $7.4 million order from the u.s. army for 88 off-grid ev arc™ systems $4.8 million order from u.s. department of homeland security for ev arc™ systems $1.7 million order from the north carolina department of adult correction for sustainable ev charging infrastructure products $1.2 million in orders from leading european market telecommunications provider awarded first european government supplier agreement on the uk's crown commercial service, the main purchasing vehicle for uk government entities $1.0 million order from united kingdom ministry of defense for ev arc™ systems federal railroad administration orders ev arc™ charging systems u.s. national park service deploys ev arc™ systems at the national mall awarded european patent for thermal management technology that makes lithium-ion batteries safer awarded u.s. patent for wireless / inductive electric vehicle charging powered by renewable energy commenced fabrication of ev standard™ beta products “first quarter revenues of $14.6 million marked our highest first quarter revenues in the company's history.
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