Beam Global (BEEM) investor relations material

Executive summary

• Q1 2026 revenue was $3.1 million, down 51% year-over-year, primarily due to order timing, seasonal European slowdown, and reduced U.S. federal government demand, with commercial and international sales comprising a larger share of revenue.

• Gross margin was negative at -13.3%, compared to a positive 7.9% in Q1 2025, reflecting lower sales volume and fixed overhead absorption.

• Net loss for Q1 2026 was $6.9 million, a significant improvement from a $15.5 million net loss in Q1 2025, which included a $10.8 million goodwill impairment.

• Backlog increased to $9.0 million as of March 31, 2026, up 50% from $6.0 million at year-end, with Smart Cities and energy storage products driving growth.

• Company remains debt-free with a $100 million unused line of credit.

Financial highlights

• Revenue: $3.1 million for Q1 2026, down from $6.3 million in Q1 2025.

• Gross loss: $0.4 million (gross margin -13.3%) vs. gross profit of $0.5 million (7.9%) prior year.

• Adjusted Non-GAAP gross margin was 9.4% in Q1 2026, compared to 20.6% in Q1 2025.

• Net loss: $6.9 million ($0.33 per share) vs. $15.5 million ($1.04 per share) prior year.

• Working capital: $6.2 million at March 31, 2026.

Outlook and guidance

• Management expects revenue and margin improvement in subsequent quarters, supported by a strong backlog, Q2 revenue already exceeding Q1, and continued global EV adoption.

• Reduced reliance on U.S. federal government sales, with focus shifting to commercial and international markets.

• Gross margins are expected to improve as revenues grow and fixed costs are absorbed.

• The company may seek additional capital to support operations and growth initiatives.

• Diversification strategy is driving geographic and product expansion.