SAN DIEGO, July 14, 2026 (GLOBE NEWSWIRE) -- Beam Global, (Nasdaq: BEEM), a leading provider of innovative and sustainable infrastructure solutions for the electrification of transportation, energy security and smart city infrastructure, today announced that preliminary, unaudited revenue for the second quarter of 2026 exceeded $8.5 million, an increase of more than 170% over first quarter and more than 20% over second quarter of 2025.
These figures are preliminary and unaudited. They are estimates based on information available as of the date of this release and remain subject to change in connection with the completion of the Company's quarter-end closing procedures and the review of its financial statements.
Revenue growth during the quarter was driven by continued expansion of Beam Global's diversified portfolio of proprietary products and technologies, alongside increasing international market penetration. Growth was supported by the Company's first commercial sale in the Middle East and continued expansion across Europe. Whilst in the past revenues were derived almost entirely from the sale of the Company's EV ARC product, Beam Global's product and geographic diversification resulted in Q2, 2026 revenues being generated through sales of the following:
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Preliminary, unaudited GAAP gross margin for the second quarter of 2026 was approximately 15% to 18%. The improvement in gross margin was driven primarily by higher revenue volumes absorbing fixed overhead, together with the Company's ongoing cost-reduction and international efficiency initiatives.
The Company also recently announced future savings of $2.7M in reduced lease payments over the five-year lease term as a result of its relocation of manufacturing operations to Yuma, Arizona. Management expects future additional labor and operational savings as a result of the move which, management believes will further improve gross and operating margins.
The Company's growing portfolio of proprietary technologies, expanding international operations, and increasing adoption across commercial, government, and defense markets continue to validate Beam Global's growth strategy.
"We are simultaneously increasing our revenues, our opportunities to generate revenues, and our vertically integrated capabilities. At the same time, we are taking meaningful steps to significantly reduce our costs and improve our margins," said Desmond Wheatley, CEO of Beam Global. "We have created a portfolio of products which is addressing all the most relevant industries today: drones; AI; energy generation and storage; defense and military applications; sustainable transportation and mobility and a host of other applications. We are now delivering those products into the most active and vibrant geographies and markets, specifically the United States, Europe, and the Middle East. Our second quarter revenue streams categorically demonstrate that our diversification efforts are working. And, we remain focused on disciplined capital management and profitable growth as we scale."
The Company expects to file its complete, unaudited financial results for the second quarter of 2026 in its Quarterly Report on Form 10-Q on or before August 14, 2026, in accordance with applicable SEC filing deadlines.
For more information about Beam Global's sustainable EV charging solutions, visit www.BeamForAll.com or contact BeamTeam@BeamForAll.com.
About Beam Global
Beam Global is a sustainable technology innovator which develops and manufactures infrastructure products and technologies. We operate at the nexus of innovative and reliable energy, transportation and smart cities solutions with a focus on sustainable energy infrastructure, rapidly deployed and scalable EV charging solutions, safe energy storage, energy security and intelligent Infrastructure. With operations in the U.S., Europe and the Middle East, Beam Global develops, patents, designs, engineers and manufactures unique and advanced innovative technology solutions that power transportation, provide secure sources of electricity, enable Smart City services, save time and money, and protect the environment. Beam Global is headquartered in San Diego, CA with facilities in Broadview, IL, Belgrade and Kraljevo, Serbia and Abu Dhabi, UAE. Beam Global is listed on Nasdaq under the symbol BEEM. For more information visit, BeamForAll.com LinkedIn YouTube, Instagram and X
Forward-Looking Statements
This Beam Global Press Release may contain forward-looking statements. All statements in this Press Release other than statements of historical facts are forward-looking statements. Forward-looking statements are generally accompanied by terms or phrases such as "estimate," "project," "predict," "believe," "expect," "anticipate," "target," "plan," "intend," "seek," "goal," "will," "should," "may," or other words and similar expressions that convey the uncertainty of future events or results. These statements relate to future events or future results of operations. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, which may cause Beam Global's actual results to be materially different from these forward-looking statements. Except to the extent required by law, Beam Global expressly disclaims any obligation to update any forward-looking statements.
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