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Our engineering team has identified approximately $12,000 per EV ARC™ in further savings which, when combined with our recent price increase, will improve our gross profitability on a base model by approximately another 24%. Excluding non-cash amortization in cost of goods sold, our margins would be at 2% of revenues. We generated a positive gross profit after improving gross profitability companywide by 8.1%, though we are not yet seeing the benefits of disinflation.

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In fact, the first quarter wasn’t just the best quarter in our history, it was better than any full year except 2022. “The Beam Team produced 3 times more EV ARC™ systems in Q1 of 2023 than in the same period in the prior year, demonstrating that we can deliver on the extraordinary growth in sales that we are experiencing. Increased EV ARC™ sales price by 8.25% as of in face of extraordinary demand to further improve gross profits in future periodsįull $100M line of credit available and unused Record Q1 for new purchase orders of $5.45M 51% government and 49% commercial Record Q1 EV ARC™ unit deployments increased 233% YOY, increased 92% from Q4 2022 Record Q1 order pipeline of $117M - $132M at time of reporting Positive GAAP gross profit and further 2% pro forma gross margin excluding non-cash amortizationīeam Global has approximately $5M in cash in the bank at time of reporting

Record revenues of $13M, a 245% increase over Q1 2022 and 65% increase over prior quarter SAN DIEGO, (GLOBE NEWSWIRE) - Beam Global, (Nasdaq: BEEM, BEEMW), (the “Company”), the leading provider of innovative sustainable products and technologies for electric vehicle (EV) charging, energy storage, energy security and outdoor media, today announced operating results for the quarter ended March 31, 2023.

Record Revenues, Positive Gross Margin, $5M cash at time of reporting