Quarterly ResultMay 15, 2026, 04:10 PM
Beam Global Q1 Revenue Down 50.5% to $3.13M; Gross Loss $0.42M
AI Summary
Beam Global reported a significant decline in revenue for the first quarter of 2026, falling 50.5% to $3.13 million. The company also recorded a gross loss of $0.42 million, a reversal from a gross profit in the prior year. While the net loss improved to $6.86 million, this was largely due to the absence of a $10.78 million goodwill impairment charge recorded in Q1 2025. The company increased its cash balance to $1.97 million, partly aided by $3.41 million from an At Market Issuance Sales Agreement, and announced the termination of its San Diego headquarters lease effective July 26, 2026.
Key Highlights
- Revenue for Q1 2026 decreased by 50.5% to $3.13 million from $6.32 million in Q1 2025.
- The company reported a gross loss of $0.42 million in Q1 2026, compared to a gross profit of $0.50 million in Q1 2025.
- Net loss improved to $6.86 million in Q1 2026 from $15.52 million in Q1 2025, primarily due to no goodwill impairment.
- Net loss per share was $(0.33) for Q1 2026, an improvement from $(1.04) in Q1 2025.
- Cash balance increased to $1.97 million at March 31, 2026, from $0.97 million at December 31, 2025.
- Working capital stood at $6.17 million as of March 31, 2026.
- Net cash used in operating activities was $2.27 million for Q1 2026.
- The company generated $3.41 million from the sale of common stock under an ATM agreement in Q1 2026.
- The landlord exercised its right to terminate the San Diego headquarters lease, effective July 26, 2026.
Price Impact
More from BEEM