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Revenue: $3.1 million in Q1 2026, a decrease of 51% from $6.3 million in Q1 2025.

Backlog: Increased 50% from $6 million at December 31, 2025, to $9 million at March 31, 2026.

Gross Profit: Reported a gross loss of $0.4 million or negative 13.3%, compared to a gross profit of $0.5 million or 7.9% in Q1 2025.

Adjusted Non-GAAP Gross Margin: 9.4%, down from 20.6% in the prior year period.

Operating Expenses: $6.3 million, compared to $16 million in Q1 2025, with the prior period including a $10.8 million noncash goodwill impairment charge.

Net Loss: $6.9 million, compared to $15.5 million in Q1 2025. Excluding noncash charges, the non-GAAP net loss was $3.7 million compared to $3 million in Q1 2025.

International Revenue: Comprised 51% of revenues in Q1 2026, up from 25% in Q1 2025.

Nongovernment Revenue: Increased 48% year-over-year, representing 78% of total revenues.

Cash Flow: Cash increased by $1 million during the quarter.

Debt Status: Operates with no debt and has an unused $100 million line of credit.

Working Capital: Decreased by $2.7 million to $6.2 million at March 31, 2026.

Release Date: May 15, 2026

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

Beam Global (NASDAQ:BEEM) reported a 50% increase in backlog during the quarter, indicating strong future demand.

The company made its first EV Arc sale in Abu Dhabi, marking an expansion into the Middle East market.

Beam Europe achieved a record $1.7 million in smart city infrastructure orders in a single week, showcasing strong international growth.

The company continues to operate with no debt and has an unused $100 million line of credit, indicating strong financial health.

Beam Global (NASDAQ:BEEM) has diversified its revenue streams, with 78% of Q1 2026 revenues coming from nongovernment commercial entities, up 48% year-over-year.

Negative Points

First quarter revenue was $3.1 million, a decrease of 51% compared to Q1 2025, due to order timing and reduced federal government EV spending.

The company reported a gross loss of $0.4 million, with a negative gross margin of 13.3%, impacted by fixed overhead allocations against lower product volume.

Operating expenses increased by approximately $1 million year-over-year, primarily due to a $1.8 million noncash provision for credit losses.

Net loss for Q1 2026 was $6.9 million, including $3.5 million of noncash charges, reflecting ongoing financial challenges.

The war in the Middle East has delayed anticipated revenues from new operations in the region, impacting overall financial performance.

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Q & A Highlights

Q: On the UAE, I think you said you had a UAE sale and delivery on the same day of the conference. Is that correct? And was it an EV? What was the timing around that delivery? A: Yes, we had a customer who was so impressed by the product and whose need was urgent that they bought the product right there at the show. We deployed it directly to the customer’s location for public EV charging. This rapid deployment within 24 hours was unprecedented for them and bodes well for our future sales in the region.

Q: Do you have storage infrastructure or inventory available in the Middle East already with the joint venture partner? Was that just related to the trade show? A: No, we had to redirect another opportunity to fulfill this urgent need. We can ship quickly from our facilities, taking about four weeks on the water from Serbia. We expedited shipping for the other opportunity, and they agreed to receive more units from us.

Q: Can you maybe flush out for us what your engagement is with customers in the drone market? Do you see this as potentially additive to where you already have traction? A: Yes, we have a very viable and competitive solution for off-grid charging infrastructure, like our Beam Flight product. We are manufacturing bespoke, highly energy-dense batteries for drones operating in various environments. Our ability to create form factor agnostic batteries is a significant advantage, and we see this as a huge growth opportunity.

Q: Has the swing in interest in EVs impacted the volume of incoming calls related to EV Arc sales? A: Yes, we are seeing increased interest. Our EV Arcs are heavily utilized, often placed where traditional infrastructure can’t be deployed. This increased interest is partly due to the volatility of fuel prices and the growing acceptance of electric vehicles.

Q: Is it fair to expect further acceleration if the conflict in the Middle East is resolved, given your opportunity there? A: Yes, if the conflict is resolved, we expect significant contributions to our revenue from the Middle East. The region is committed to sustainable infrastructure, and our products are well-suited to meet their needs.

For the complete transcript of the earnings call, please refer to the full earnings call transcript.