![]() ![]() Value of contingent consideration related to the All Cell acquisition, $3.4 million for the addition of All Cell expenses, $1.6 millionįor non-cash share-based compensation, $0.7 million for employee compensation, $0.6 million for legal and accounting expenses primarily The increases were primarily due to a $5.5M non-cash increase in the fair Operating expenses for the year ended Decemwere $18.0 millionĬompared to $5.6 million for the same period in the prior year. ![]() Operating Expenses were $7.1 million for the fourth quarter of 2022,Ĭompared to $1.7 million for the same period in the prior year. Resulting in favorable fixed overhead absorption, improved labor efficiency and engineering improvements. Improvements in gross profitability are primarily due to increased production levels Related to purchased assets from the All Cell acquisition and increases in material costs for steel and other components due to supplyĬhain shortages and other inflationary pressures. Gross loss for the year ended Decemberģ1, 2022 was $1.7 million, or 8% of sales, compared to $1.0 million, or 11% of sales in the same period of the prior year, a 3% improvement.Īs a percentage of sales, the gross loss is improving in spite of our direct costs including $0.8 million of non-cash intangible amortization Or 9% of sales, compared to $0.3 million, or 10% of sales in the same quarter of the prior year. Gross loss for the quarter ended Decemwas $0.7 million, In addition, we generated revenues of $5.2 million from Revenues, and from commercial entities which accounted for 35% of our revenues. The increase in revenues resulted from growth in Federal, state and local government agencies which accounted for 65% of our Full year revenues for 2022 were a record of $22.0 million, a 144% increase Of $7.9 million, a 126% increase over the same period in 2021. International expansion, especially now that we have the OCI Group in London as a powerful ally.”įourth Quarter and Year-End 2022 Financial Summaryįor the fourth quarter of 2022, Beam Global reported record revenues The better we get at this in the United States, the better I feel about our Gross profitability while still in an inflationary cycle. Teams at Beam Global are firing on all cylinders and determined to show how much more we can do. Portfolio plans to expand to Europe and other regions and continued balance sheet and equity discipline making us one of the tightestĪnd least diluted public companies I know of,” said Desmond Wheatley, CEO of Beam Global. Growth in sales and a pipeline that shows a continuation of this trend triple digit growth in production and lots of room to grow noĭebt and available cash to fund our growth entirely new opportunities through our energy storage products and a doubling of our patent ![]() “Beam Global has moved to an entirely new level. Patents issued in China and India for Thermal Management Technology that Received record orders through California and Federal contracts from extensions Rapidly deployed sustainable EV charging infrastructure products Received $8.1M in energy storage solutions orders across micro-mobility,Īwarded Federal Blanket Purchase Agreement (BPA) for Electric Vehicle ChargingĪwarded follow-on State of California Contract for 2022 – 2025 for Received third largest order in company history, $5.3 million order for New Received second largest order in company history, $11.7 million order for Received largest order in company history, $29.4 million for the U.S. Secured $100 million credit facility through London based OCI GroupĪcquired All Cell Technologies to secure vital battery supply, reduce costs, Orders from government sector grew 489% year over year Orders from commercial sector grew 1190% year over year Record Q4 EV ARC™ system production, 115% year over year increase Record full year EV ARC™ system production, 105% year over year increase Record annual orders of $76 million, 548% year over year increase Record Q4 revenues of $7.9 million, 126% year over year increase Record full year revenues of $22 million, 144% year over year increase (EV) charging, energy storage, energy security and outdoor media, today announced financial results for the year ended December 31, 2022. SAN DIEGO, CA – Ma– Beam Global, (Nasdaq:īEEM, BEEMW), (the “Company”), the leading provider of innovative sustainable products and technologies for electric vehicle
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