AI Analysis | Feedback

• ChargePoint for solar-powered, off-grid EV charging.
• Sunrun, but for rapidly deployable, commercial-scale solar EV charging stations.

AI Analysis | Feedback

Beam Global (BEEM) specializes in sustainable, off-grid infrastructure solutions, primarily for electric vehicle charging.

• EV ARC™ Charging Systems: Autonomous, solar-powered electric vehicle charging infrastructure that is rapidly deployable, requires no construction, and operates off-grid.
• ARC Mobility™ Trailer-Based Chargers: Mobile, deployable EV charging systems mounted on trailers, providing rapid response and temporary charging capabilities.
• Solar Grid-Tie Solutions: Grid-connected solar-powered EV charging solutions that integrate renewable energy with existing electrical infrastructure.

AI Analysis | Feedback

Beam Global (symbol: BEEM) primarily sells its products, such as EV ARC™ and Solar Tree® EV charging solutions, to other organizations and businesses rather than directly to individuals. Therefore, it operates as a Business-to-Business (B2B) company.

Its major customers are primarily governmental and large institutional entities. Specific publicly traded companies that are identified as major customers (e.g., representing a significant percentage of revenue) are not typically disclosed in Beam Global's public filings (such as 10-K reports). The main categories of major customers include:

• U.S. Federal Government: This is a highly significant customer segment for Beam Global. Through contracts like the GSA Multiple Award Schedule (MAS), numerous federal agencies purchase and deploy Beam Global's products. Specific examples of entities within this segment include various branches and departments of the Department of Defense (e.g., U.S. Navy, Marine Corps, Army, Air Force), the General Services Administration (GSA), the Department of Energy, the Department of Homeland Security, and the Department of Veterans Affairs. It is important to note that these are governmental organizations and are not publicly traded companies with stock symbols.
• State and Local Governments: This segment encompasses a wide range of customers, including municipalities, counties, and state agencies across the United States. Examples include various city governments, county administrations, and state departments (e.g., state parks, transportation departments). These are also governmental organizations and are not publicly traded companies.
• Commercial and Industrial Enterprises: Beam Global also sells its solutions to a diverse group of large corporations, universities, healthcare facilities, and airports. While Beam Global often refers to working with "Fortune 500 companies" and other large private sector entities, specific individual publicly traded companies that constitute a major portion of Beam Global's revenue are not explicitly named or identified in their public disclosures in a way that would allow for their definitive listing as major customers with corresponding stock symbols. Their sales in this sector are generally distributed across many different clients.

In summary, Beam Global's major customers are predominantly various levels of government in the United States. While they serve the commercial sector, no specific publicly traded commercial companies are identified as major customers in their financial reports that would necessitate listing their symbols.

AI Analysis | Feedback

AI Analysis | Feedback

Desmond Wheatley
President, CEO & Chairman of the Board

Desmond Wheatley joined Beam Global, then Envision Solar, as a consultant in 2010, becoming CEO in 2011 and Chairman of the Board in 2016. He has over two decades of senior international management experience in technology systems integration, energy management, communications, and renewable energy sectors. Mr. Wheatley has founded, funded, and operated four profitable start-up companies. He was previously involved in M&A activities, including evaluating acquisition opportunities, conducting due diligence, and raising $500 million in debt and equity. Prior to Beam Global, he was a founding partner of Crichton Hill LLC, an international consulting practice, CEO of iAxis FZ LLC, a Dubai-based alternative energy and technology systems integration company, and President of ENS, an independent security and energy management systems integrator in the US. Mr. Wheatley holds several patents in clean energy for mobility.

Lisa Potok
Chief Financial Officer

Lisa Potok brings over 25 years of financial, operational, board, and leadership experience in both public and private companies, domestically and internationally, across diverse industries including manufacturing, medical devices, biotech, eCommerce, advertising, and consumer goods. She is recognized for her strategic focus and for consistently contributing to profitability growth while managing public offerings, acquisitions, and other strategic initiatives. Immediately prior to her appointment at Beam Global, Ms. Potok served as the CFO, Treasurer, and Secretary of Nice North America LLC (formerly Nortek Security & Control, LLC), a prominent smart residential, commercial, and industrial solutions manufacturing company. Her previous roles with publicly traded companies include CFO of Newegg Inc., a multi-billion-dollar global tech company that she helped take public in May 2021, and Vice President of Global Finance at Club Demonstration Services. Ms. Potok is an active CPA and holds a Bachelor of Arts in Accounting from Hillsdale College and an MBA from The Paul Merage School of Business, University of California, Irvine.

Ivan Tlačinac
Managing Director, Beam Europe

Ivan Tlačinac is a seasoned leader with 26 years of experience driving growth in global infrastructure businesses. As Managing Director of Beam Europe, Mr. Tlačinac oversees Beam Global's strategic expansion across Europe, the Middle East, and Africa (EMEA), leading the integration of Beam's innovative patents and intellectual property with advanced manufacturing capabilities. Before joining Beam Global, Mr. Tlačinac served as CEO of Amiga doo, a company he joined as a lead electrical engineer in 1996 and progressively advanced within. Under his leadership, Amiga became a leader in various infrastructure projects, including public lighting, stadiums, utility and telecom towers, and large-scale transportation projects. Following Amiga's acquisition by Beam Global in 2023, his extensive expertise in engineering, sales, operations, and project execution became crucial for Beam's regional success.

AI Analysis | Feedback

Key Risks to Beam Global (BEEM)

1. Lack of Sustained Profitability and Financial Health Concerns: Beam Global is currently unprofitable, consistently reporting net losses, and has a history of poor business operations indicated by a low Piotroski F-Score. The company's Altman Z-Score also places it in a distress zone, suggesting a potential risk of bankruptcy. This lack of profitability and minimal cash flow means the firm frequently relies on credit backing or new capital, which can be challenging for a small, largely untested business.
2. Revenue Volatility and Customer Concentration: Beam Global has experienced significant fluctuations in revenue, including drops attributed to unfavorable order timing and historical reliance on government contracts. While the company is working to diversify its customer base towards commercial and international clients, large government orders still represent an outsized component of its revenue, making consistent revenue generation difficult and exposing it to policy uncertainty.
3. Shareholder Dilution and Stock Price Volatility: The company has a history of diluting its shareholders through issuing new shares for cash raises and stock-based compensation, which increases the number of outstanding shares and can reduce earnings per share. Additionally, Beam Global's stock price has been highly volatile, underperforming both the US Electrical industry and the broader US market over the past year.

AI Analysis | Feedback

The increasing convergence of large, established industrial and energy companies into comprehensive EV charging and energy management solutions, coupled with significant governmental and utility investments aimed at streamlining and reducing the cost of grid-tied EV charging infrastructure, poses a clear emerging threat to Beam Global's market position. This trend directly challenges Beam Global's core value proposition, which often centers on the avoidance of complex grid connections and lengthy deployment times, as alternative grid-connected solutions become more accessible, faster to deploy, and potentially more cost-effective.

AI Analysis | Feedback

The addressable markets for Beam Global's main products and services are as follows:

• Solar-Powered EV Charging Stations: The global market for solar-powered EV charging stations was valued at approximately US$1.7 billion in 2024. This market is projected to grow at a Compound Annual Growth Rate (CAGR) of 8.2% from 2025 to 2035, reaching an estimated value of US$4.1 billion by the end of 2035. The Asia-Pacific region is expected to hold the largest share of this market.
• Energy Storage Solutions (ESS): The global ESS market is projected to grow from $7.8 billion in 2024 to $25.6 billion in 2029, representing a CAGR of 26.9%.
• Electric Vehicle Charging Infrastructure: The U.S. electric vehicle charging infrastructure market size was valued at approximately USD 5.48 billion in 2024. This market is projected to grow at a CAGR of 39.90% between 2025 and 2034, reaching nearly USD 157.38 billion by 2034.
• Portable EV Chargers: The global portable EV charger market was valued at USD 50.17 million in 2024. It is estimated to reach USD 217.98 million by 2033, exhibiting a CAGR of 16.84% from 2025 to 2033.

AI Analysis | Feedback

Here are 3-5 expected drivers of future revenue growth for Beam Global (BEEM) over the next 2-3 years:

1. International Expansion: Beam Global is actively expanding its global footprint, particularly into Europe and the Middle East. This includes the formation of Beam Middle East through a strategic joint venture, aiming to produce and market sustainable infrastructure solutions across the Middle East and Africa. International customers comprised 37% of revenues year-to-date June 30, 2025, up from 15% in the same period in 2024. The company has also expanded into Romania and Croatia with new distribution agreements.
2. Diversification and Growth in Commercial Customer Base: Beam Global is strategically shifting its customer mix, with a significant increase in revenues from non-government commercial entities. As of June 30, 2025, 60% of revenues were derived from commercial customers, a substantial rise from 24% in the same period of 2024. This diversification reduces reliance on federal sales and positions the company for more stable growth.
3. New Product Launches and Expanded Product Portfolio: The company has introduced a broader range of new e-mobility and energy security products, contributing to revenue growth. Notably, the energy storage solutions (ESS) business has shown significant growth, with a 21% revenue increase in the first half of 2025 compared to 2024, driven by repeat orders and new major clients. Beam Global’s acquisition of AllCell Technologies also enhanced its battery technology capabilities.
4. Continued Sales and Deployment of EV ARC™ Systems: Sales of Beam Global's flagship EV ARC™ system, the off-grid solar-powered EV charging solution, have continued to increase. Approximately 2,000 EV ARC™ systems have been built and deployed globally since 2019, and these rapidly deployable, resilient charging solutions remain a core offering, supporting the electrification of transportation and energy security initiatives.

AI Analysis | Feedback

Share Issuance

• Beam Global issued common stock valued at approximately $28.9 million in 2020.
• In 2023, the company issued common stock worth approximately $27.7 million.
• The company continued to issue common stock, with approximately $1.3 million issued in 2024.

Outbound Investments

• In 2022, Beam Global acquired AllCell Technologies to enhance its battery technology capabilities and supply chain control. The net cash outflow for acquisitions in 2022 was approximately $0.811 million.
• Beam Global acquired Amiga DOO Kraljevo in 2023, expanding its operations into Europe. The acquisition involved issuing common stock valued at approximately EUR 1.95 million at closing, with potential earnout payments in stock. Net cash outflow for acquisitions in 2023 was approximately $4.651 million.
• In 2024, Beam Global acquired Telcom d.o.o. Beograd, providing in-house production capabilities for power electronics. Cash payments for acquisitions in 2024 totaled approximately $3.2 million, which likely included Telcom. The net cash outflow for acquisitions in 2024 was approximately $0.513 million.

Capital Expenditures

• Beam Global's capital expenditures (PPE Investments) were approximately $0.266 million in 2020 and $0.498 million in 2021.
• Capital expenditures increased to approximately $0.872 million in 2022 and $0.937 million in 2023.
• In 2024, capital expenditures amounted to approximately $0.828 million, focusing on scaling production capacity to meet demand and operational improvements.