Corporate GovernanceNov 6, 2026, 04:08 PM
Beam Global Amends 10-K for Compensation Errors; Revenue Down 43%
AI Summary
Beam Global has filed an amendment to its Form 10-K to correct errors in its executive and director compensation disclosures. The company also provided updated financial and operational details for the fiscal year ended December 31, 2025. Revenue saw a significant decrease of 42.8% to $28.2 million, primarily due to a reduction in orders from U.S. Federal government agencies. Gross profit also declined, and operating expenses were impacted by a goodwill impairment charge. The company is strategically shifting focus to commercial and international markets to mitigate these headwinds.
Key Highlights
- Beam Global amends 10-K to correct errors in executive compensation and director compensation disclosures.
- Summary Compensation Table corrected for CEO and former COO amounts, impacting total compensation figures.
- Outstanding Equity Awards table corrected for former COO Mark Myers' vesting shares.
- Revenue decreased 42.8% to $28.2 million in 2025 from $49.3 million in 2024, driven by reduced federal orders.
- Gross profit decreased to $3.5 million (12.5% margin) in 2025 from $7.3 million (14.8% margin) in 2024.
- Operating expenses increased to $31.1 million in 2025 from $19.0 million in 2024, including a $10.8 million goodwill impairment charge.
- Cash decreased to $1.0 million at December 31, 2025, from $4.6 million at December 31, 2024.
Price Impact
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