SAN DIEGO, Aug. 19, 2026 (GLOBE NEWSWIRE) -- Beam Global, (Nasdaq: BEEM), (the "Company"), a leading provider of innovative products for energy storage and security, sustainable transportation, and smart city infrastructure, today announced its second quarter operating results for the period ended June 30, 2026.
Q2 2026 and Recent Company Highlights:
Financial:
- Q2 2026 revenue $8.6M, an increase of 174% over Q1 2026 and 21% year-over-year.
- 17.8% gross margin in Q2 2026; 26.2% excluding non-cash depreciation and amortization.
- FH Operating Expenses reduced by over $400k
- $5.4 million backlog as of June 30, 2026
- No Debt, $100 million unused line of credit.
Operational:
- Received more than $0.5 million in drone and autonomous robotics battery orders within a single week, expanding Beam's presence in advanced battery applications.
- Continued expanding advanced battery technology across high-growth applications, including drones, military systems, AI-driven robotics and industrial applications, and wildfire detection technologies.
- AI/data-center battery opportunity advanced, battery design for AI infrastructure accepted for presentation from 1,800 submissions at IECON 2026 in Qatar.
- Received European patent for Smart Battery Solutions and U.S. patent for integrated wind and solar power generation system, strengthening Beam's intellectual property portfolio.
- Continued leveraging Federal GSA and Sourcewell procurement channels, including a fourth EV ARC order from Dallas (10 systems), 10 EV ARC systems and an ARC Mobility trailer for Stanislaus County and 6 additional EV ARC systems for the City of Long Beach.
- Expanded EV ARC deployments in Massachusetts through a new CommunityEV carshare pilot, demonstrating applications for off-grid charging in community mobility programs.
- Expanded recurring-revenue EV ARC deployments across Europe, including a sponsorship-funded rental in Serbia and additional deployments in Barcelona, Madrid, and Montenegro.
- Smart City solutions are deployed in more than 30 cities across five nations.
- Relocated manufacturing operations to Yuma, Arizona - approximately $2.7 million in rent savings over the lease term.
- Product portfolio featured at Make it in the Emirates 2026 in Abu Dhabi, UAE
"Beam Global's intellectual property and product portfolio is demonstrably a platform for our expansion into the most vibrant and relevant industries of today." said Desmond Wheatley, CEO of Beam Global. "We are providing energy generation and battery storage solutions for drones, AI data centers, robotics, autonomous vehicles, mobility, and smart cities solutions. Our product portfolio expansion has enabled us to generate revenues from a host of new products based upon our underlying patented technologies, creating opportunities that simply did not exist for us a couple of years ago. Our international expansion has massively increased our market presence and pool of prospective customers. Our European operations are now generating approximately half of our revenues and have contributed significantly to the 174% quarter-over-quarter growth that we've just delivered. We believe that we are creating significant pent-up demand in the Middle East so that when the disruption in that region comes to an end, we will have another opportunity to create significant growth for our company. We intend to continue to expand and leverage the platform that we are creating so that we become increasingly important to drones, autonomous vehicles, robots, and the vastly increased energy requirements coming from the rapid expansion of data centers. I believe that you will see us playing an increasingly significant role in these industries in the coming periods. While doing all of this, we remain laser focused on financial discipline, reducing our operating expenses by almost half a million dollars in the first half of this year. We are taking other significant cost-cutting measures, such as moving our manufacturing from San Diego, California, to Yuma, Arizona, where we will save millions of dollars in lease payments and also take advantage of many other benefits resulting from that move. I applaud the Beam team for their efforts, and I'm excited by the significant moats that we are creating around our technology portfolio as we advance our platform globally into the most exciting industries of our age."
Q2 2026 Financial Summary
Revenues
Revenues for the second quarter of 2026 were $8.6 million, an increase of $1.5 million, or 21%, over $7.1 million in the second quarter of 2025 and an increase of 174% over the $3.1 million reported in the first quarter of 2026. Non-government commercial customers represented 62% of revenues and state and local government customers 38%, compared to 66% and 34%, respectively, a year earlier. Sales outside the United States were 47% of revenues in the quarter and 48% for the first half of 2026, up from 37% a year earlier, reflecting the continued integration of the Company's European operations. Backlog was $5.4 million as of June 30, 2026.
Gross Profit
The Company reported gross profit of $1.5 million, a gross margin of 17.8%, for the second quarter of 2026, compared to $1.4 million, or 20.3%, in the second quarter of 2025. Both periods included $0.7 million of non-cash charges in cost of revenues - $0.5 million of depreciation and $0.2 million of amortization of intangible assets from the All-Cell acquisition. Excluding these items, adjusted Non-GAAP gross margin was 26.2% in the quarter, compared to 29.6% a year earlier.
The Company believes its margins will improve as sales volumes return, reducing the impact of fixed overhead allocations on each unit sale, and as ongoing cost reduction initiatives continue to take effect.
Operating Expenses
Operating expenses were $4.5 million for the second quarter of 2026, compared to $5.9 million a year earlier, which included a $1.4 million stock grant issued in June 2025; excluding that item, operating expenses were essentially flat year-over-year. For the six months ended June 30, 2026, operating expenses were $10.8 million compared to $22.0 million a year earlier, which included a $10.8 million non-cash goodwill impairment charge and the $1.4 million stock grant. First-half 2026 expenses include a $1.6 million increase in the provision for credit losses relating to a single customer balance reserved in accordance with Company policy, partially offset by reductions in salaries and benefits, facilities, and other general and administrative expenses. The Company maintains a positive relationship with that customer and continues to work toward collecting the outstanding balance and creating new revenue opportunities.
Net Loss
The Company reported a net loss of $3.1 million, or $(0.14) per share, for the second quarter of 2026, compared to $4.3 million, or $(0.28) per share, a year earlier. The quarter's net loss includes $1.1 million in non-cash charges.
Management believes the improvement in both GAAP and Non-GAAP results, together with a 174% increase in revenue over the prior quarter, reflects the Company's expanded opportunities created through geographic and product portfolio expansion, continued cost reduction initiatives, disciplined cost structure and the largely fixed nature of its non-cash charges, and is indicative of meaningful operating leverage as revenue increases.
Non-GAAP Financial Measures
To supplement our condensed consolidated financial statements prepared in accordance with GAAP, Beam Global presents certain non-GAAP financial measures, in this press release. These measures exclude non-cash items including provisions for credit losses, stock-based compensation, depreciation and amortization, warrant amortization, and impairment of goodwill. We use Non-GAAP measures in conjunction with GAAP measures as part of our overall assessment of our performance to evaluate the effectiveness of our business strategies and to communicate with our board of directors concerning our financial performance. We believe Non-GAAP measures are also helpful to investors, analysts and other interested parties because they can assist in providing a more consistent and comparable overview of our operations across our historical financial periods. Non-GAAP Net Loss has limitations as an analytical tool. Therefore, you should not consider it in isolation or as a substitute for analysis of our results as reported under GAAP. Because of these limitations, you should consider Non-GAAP Net Loss alongside other financial performance measures, including Net Loss attributable to other GAAP measures. In evaluating Non-GAAP Net Loss you should be aware that in the future we may incur expenses that are the same as, or similar to, some of the adjustments reflected in this press release. Our presentation of Non-GAAP Net Loss should not be construed to imply that our future results will be unaffected by the types of items excluded from the calculations of Non-GAAP Net Loss. Non-GAAP Net Loss is not presented in accordance with GAAP and the use of these terms varies from others in our industry. A reconciliation of this non-GAAP measure has been provided in the financial statement tables included within this press release, and investors are encouraged to review this reconciliation.
Conference Call August 19, 2026 at 4:30 p.m. ET
Beam Global will host a conference call on Wednesday, August 19 2026 at 4:30 p.m. ET to review results and provide a corporate update, followed by a Q&A session.
Registration: https://dpregister.com/sreg/10211335/104afe0e629
Toll-Free Dial-In Number: 1-844-739-3880
International Dial-In Number: 1-412-317-5716
A webcast archive will be available on our website (www.BeamForAll.com) following the call.
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 Yuma, AZ; 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.
Investor Relations
Luke Higgins
+1 858-261-7646
IR@BeamForAll.com
Media Contact
Lisa Potok
+1 858-327-9123
Press@BeamForAll.com
| Beam Global | ||||
| Condensed Consolidated Balance Sheets | ||||
| (In thousands, except share and per share data) | ||||
| June 30, | December 31, | |||
| 2026 | 2025 | |||
| (Unaudited) | ||||
| Assets | ||||
| Current assets | ||||
| Cash | $ 1,025 | $ 969 | ||
| Accounts receivable, net of allowance for credit losses of $2,779 and $939 | 6,741 | 8,236 | ||
| Prepaid expenses and other current assets | 1,654 | 2,070 | ||
| Inventory, net | 8,259 | 9,766 | ||
| Total current assets | 17,679 | 21,041 | ||
| Property and equipment, net | 11,956 | 13,093 | ||
| Operating lease right of use assets | 1,745 | 1,358 | ||
| Intangible assets, net | 6,644 | 7,127 | ||
| Deposits | 135 | 113 | ||
| Total assets | $ 38,159 | $ 42,732 | ||
| Liabilities and Stockholders' Equity | ||||
| Current liabilities | ||||
| Accounts payable | $ 5,988 | $ 5,925 | ||
| Accrued expenses | 3,471 | 2,885 | ||
| Sales tax payable | 932 | 843 | ||
| Deferred revenue, current | 1,273 | 1,800 | ||
| Note payable, current | 70 | 68 | ||
| Contingent consideration, current | - | 104 | ||
| Operating lease liabilities, current | 415 | 484 | ||
| Total current liabilities | 12,149 | 12,109 | ||
| Deferred revenue, noncurrent | 586 | 690 | ||
| Note payable, noncurrent | 95 | 131 | ||
| Other liabilities, noncurrent | 2,565 | 2,939 | ||
| Deferred tax liabilities, noncurrent | 1,169 | 1,203 | ||
| Operating lease liabilities, noncurrent | 1,339 | 815 | ||
| Total liabilities | 17,903 | 17,887 | ||
| Stockholders' equity | ||||
| Preferred stock, $0.001 par value, 10,000,000 authorized, none outstanding as of June 30, 2026 and December 31, 2025. | $ - | $ - | ||
| Common stock, $0.001 par value, 350,000,000 shares authorized, 22,267,380 and 19,124,163 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively. | 22 | 19 | ||
| Additional paid-in-capital | 162,348 | 156,446 | ||
| Accumulated deficit | (141,581) | (131,646) | ||
| Accumulated Other Comprehensive Income (AOCI) | (533) | 26 | ||
| Total stockholders' equity | 20,256 | 24,845 | ||
| Total liabilities and stockholders' equity | $ 38,159 | $ 42,732 | ||
| Beam Global | ||||||||
| Condensed Consolidated Statements of Operations and Comprehensive Loss | ||||||||
| (Unaudited, In thousands except per share data) | ||||||||
| Three Months Ended | Six Months Ended | |||||||
| June 30, | June 30, | |||||||
| 2026 | 2025 | 2026 | 2025 | |||||
| Revenues | $ 8,562 | $ 7,075 | $ 11,690 | $ 13,399 | ||||
| Cost of revenues | 7,035 | 5,641 | 10,577 | 11,464 | ||||
| Gross profit | 1,527 | 1,434 | 1,113 | 1,935 | ||||
| Gross margin % | 17.8% | 20.3% | 9.5% | 14.4% | ||||
| Operating expenses | 4,523 | 5,901 | 10,819 | 11,166 | ||||
| Impairment of goodwill | - | - | - | 10,780 | ||||
| Loss from operations | (2,996) | (4,467) | (9,706) | (20,011) | ||||
| Other income (expense) | ||||||||
| Interest income | 1 | 14 | 6 | 37 | ||||
| Other (expense) income | (82) | 182 | (228) | 186 | ||||
| Interest expense | (3) | (7) | (7) | (13) | ||||
| Total Other income (expense) | (84) | 189 | (229) | 210 | ||||
| Net Loss | $ (3,080) | $ (4,278) | $ (9,935) | $ (19,801) | ||||
| Net foreign currency translation (expense) benefit | (250) | 633 | (559) | 1,094 | ||||
| Total Comprehensive Loss | $ (3,330) | $ (3,645) | $ (10,494) | $ (18,707) | ||||
| Net Loss per share - basic/diluted | $ (0.14) | $ (0.28) | $ (0.47) | $ (1.30) | ||||
| Weighted average shares outstanding - basic/diluted | 21,893 | 15,499 | 21,187 | 15,272 | ||||
| Beam Global | ||||||||
| Reconciliation of Net Loss before Tax to Non-GAAP Net Loss before Tax | ||||||||
| (Unaudited, In thousands) | ||||||||
| Three Months Ended | Six Months Ended | |||||||
| June 30, | June 30, | |||||||
| 2026 | 2025 | 2026 | 2025 | |||||
| GAAP Total Revenue | $ 8,562 | $ 7,075 | $ 11,690 | $ 13,399 | ||||
| GAAP Total COGS | 7,035 | 5,641 | 10,577 | 11,464 | ||||
| Adjusted to exclude the following: | ||||||||
| Depreciation and Amortization | 716 | 657 | 1,424 | 1,457 | ||||
| Non-GAAP Total COGS | $ 6,319 | $ 4,984 | $ 9,153 | $ 10,007 | ||||
| Non-GAAP Gross Profit | $ 2,243 | $ 2,091 | $ 2,537 | $ 3,392 | ||||
| Non-GAAP Gross Margin % | 26.2% | 29.6% | 21.7% | 25.3% | ||||
| GAAP Total Operating Expenses | $ 4,523 | $ 5,901 | $ 10,819 | $ 21,946 | ||||
| Adjusted to exclude the following: | ||||||||
| Depreciation and Amortization | $ 116 | $ 150 | $ 235 | $ 306 | ||||
| Non-cash Compensation | 139 | 1,581 | 576 | 2,026 | ||||
| Allowance for Credit Losses | 16 | 13 | 1,840 | 252 | ||||
| Warrant Amortization | 80 | 80 | 161 | 161 | ||||
| Impairment of Goodwill | - | - | - | 10,780 | ||||
| Non-GAAP Total Adjustments | $ 351 | $ 1,824 | $ 2,812 | $ 13,525 | ||||
| Non-GAAP Total Operating Expenses | $ 4,172 | $ 4,077 | $ 8,007 | $ 8,421 | ||||
| GAAP Other Expenses | $ (84) | $ 189 | $ (229) | $ 210 | ||||
| GAAP Net Loss before Tax | $ (3,080) | $ (4,278) | $ (9,935) | $ (19,801) | ||||
| Non-GAAP Total Adjustments | 1,067 | 2,481 | 4,236 | 14,982 | ||||
| Non-GAAP Net Loss before Tax | $ (2,013) | $ (1,797) | $ (5,699) | $ (4,819) | ||||
