Beam global announces third quarter 2024 operating results

San diego, nov. 14, 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 third quarter results for the period ended september 30, 2024. q3 2024 financial highlights: gross margin was 10.7% of sales, our highest q3 margin ever, 9 percentage points increase over q3 2023 ytd gross margin 12.4%, 11 percentage points increase over 2023  47.9% revenue derived from commercial customers record pipeline of over $200 million backlog of $7 million debt free and $100 million line of credit available and unused q3 2024 operational highlights acquisition of telcom – provides beam with in-house production capabilities for power electronics  first sponsorship deal with globos osiguranje to deploy ev arc™ systems at belgrade airport launched four new products – beamspot™, beambike™, beampatrol™, beamwell™ beamspot™ momentum – first purchase within just five weeks of launch new fleet deployments – added new police and international airport fleet customers, further expanding our customer base in critical sectors reseller program launch – introduced the beam reseller program and signed our first four partners, generating purchase orders, promising proposals and expanding our reach delivered 10 uk ministry of defense ev arc™ systems in q3 2024, our first european order named new vp of sales – andy lovsted joined beam global in the us named new vp of sales – igor labovic joined beam global in europe “this has been a quarter of geographic and product expansion which is unmatched in our history.
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