Backlog Growth
Backlog increased 50% during the quarter from $6.0M at 12/31/25 to $9.0M at 3/31/26, with >50% attributable to smart city applications, ~33% to energy storage and the balance to EV ARC and related products.
Beam Global
· BEEM
May 15th, 2026
Summary
- Earnings Call Date:
- 2026-05-15
- Change Since:
- -30.64%
- Next Earnings Date:
- 2026-08-19
Earnings Call Sentiment
NeutralThe call presented a mix of near-term financial headwinds and clear operational progress. Q1 showed a material revenue decline (–51%) and margin compression driven by timing, seasonality and noncash accounting items, but management highlighted strong backlog growth (+50%), early Q2 revenue acceleration, international/commercial diversification (international share rose to 51%; commercial revenues +48% YoY to 78% of sales), strategic product/IP developments (autonomous wireless charging, drone batteries, new patents) and a healthy liquidity position (no debt, $1.0M cash increase, $100M unused credit line). Given the pronounced short-term financial challenges offset by tangible operational wins, backlog strength and momentum into Q2, the overall tone is balanced between risks and opportunities.
Company Guidance
Management said the business is accelerating: backlog grew 50% to $9.0M (from $6.0M at 12/31/25), split >50% smart city, ~33% energy storage and the balance EV ARC; Q1 revenue was $3.1M (down 51% y/y from $6.3M) but Q2-to-date has already exceeded Q1 (half of Q2 generated as much revenue as all of Q1), and Q4/25 was 50% higher than the prior quarter. They noted international customers were 51% of Q1 revenue (vs 25% a year ago) and nongovernment commercial revenue rose 48% y/y to 78% of total. Financials: a gross loss of $0.4M (−13.3%) included $0.7M of noncash D&A/amortization, adjusted non‑GAAP gross margin 9.4% (vs 20.6% prior); operating expenses $6.3M (prior period $16M included $10.8M goodwill impairment); net loss $6.9M (vs $15.5M), non‑GAAP net loss $3.7M (vs $3.0M). Liquidity: working capital $6.2M (down $2.7M; underlying operational decline ~$0.9M after excluding a $1.8M reserve), cash up $1.0M, essentially debt‑free with an unused $100M credit facility and no going concern. Management emphasized improving unit economics (>30% across the portfolio, EV ARC around 40%), meaningful operating leverage as volumes recover, and an expectation of revenue recovery and growth as backlog converts.
Q2 Early Momentum
Management reported Q2 2026 revenue through the call date has already exceeded total Q1 revenue, indicating acceleration and converted orders that had shifted from Q1 to Q2.
International and Commercial Diversification
International customers comprised 51% of Q1 revenues (vs 25% in Q1 2025). Revenues from nongovernment commercial entities rose 48% year-over-year and represented 78% of total revenues, showing geographic and customer-type diversification.
Key Wins and Deployments
Operational wins included first EV ARC sale for public charging in Abu Dhabi, largest residential EV ARC orders to date in New York, selection to supply battery systems for drones, and record Beam Europe smart city orders of $1.7M in a single week across Romania, Croatia, Montenegro, Serbia and Italy (about double the strongest weekly order volume in 2025).
New Products, IP and Market Entry
Launched a patented autonomous wireless charging system for autonomous vehicles, received additional U.S. and European patents (including for battery technology), and expanded into Middle East and Africa (Beam Middle East), supporting new addressable markets like autonomy, drones and off-grid deployments.
Unit Economics and Manufacturing Leverage
Management reported improving unit economics running >30% across the portfolio (management suggested EV ARC unit economics nearer ~40% when produced in Serbia) and stressed operating leverage as fixed overhead is diluted with higher volumes.
Balance Sheet and Liquidity
Company operated with no debt (except vehicle leases), cash increased by $1.0M during the quarter, working capital of $6.2M at 3/31/26, and an unused $100M credit facility available to fund operations.
Operator
Good day, and welcome to the Beam Global First Quarter 2026 Operating Results Conference Call. [Operator Instructions] Please note this event is being recorded. I would now like to turn the conference over to Ms. Lisa Potok, Chief Financial Officer. Please go ahead, ma'am.
Lisa Potok
Hi. Good afternoon, and thank you for participating in Beam Global's First Quarter 2026 Operating Results Conference Call. We appreciate you joining us today. Desmond Wheatley, President, CEO and Chairman of Beam Global is joining me by phone. Desmond will be giving his thoughts on 2026 and providing an update on recent activities at Beam Global, followed by a question-and-answer session. But first, I'd like to remind you that during this call, management will be making forward-looking statements, including statements that address Beam's expectations for future performance or operational results. Forward-looking statements involve risks and other factors that may cause actual results to differ materially from those statements. For more information about these risks, please refer to the risk factors described in Beam's most recently filed Form 10-K and other periodic reports with the SEC.
The content of this call contains time-sensitive information that is accurate only as of today, May 15, 2026. Except as required by law, Beam disclaims any obligation to publicly update or revise any information to reflect events or circumstances that occur after this call. I'm going to go ahead and start with a couple a few key highlights. Our backlog grew 50% during the quarter from $6 million at December 31 of '25 to $...
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