Beam Global Q1 2024 Results Filed

TL;DR

Beam Global Q1 2024 10-Q filed. Expecting net loss details.

AI Summary

Beam Global reported its first quarter 2024 results, ending March 31, 2024. The company's financial statements show a net loss for the period. Specific financial figures for revenue, net income/loss, and cash flow are detailed within the filing.

Why It Matters

This filing provides investors with Beam Global's financial performance and operational updates for the first quarter of 2024, impacting investment decisions.

Risk Assessment

Risk Level: medium — As a company in the rapidly evolving energy sector, Beam Global faces market and technological risks that could impact its financial performance.

Key Numbers

• 20240331 — Report Period End Date (Indicates the end of the fiscal quarter covered by the report.)
• 20240520 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• Beam Global (company) — Filer of the 10-Q
• Envision Solar International, Inc. (company) — Former company name
• Casita Enterprises, Inc. (company) — Former company name
• NV (state) — State of incorporation
• CA (state) — State of business address

FAQ

Key Financial Figures

• $0.001 — nge in which registered Common stock, $0.001 par value BEEM Nasdaq Capital Market
• $30.0 million — , but not the obligation, to sell up to $30.0 million worth of shares, but in any event, no m
• $3.4 million — ould potentially generate an additional $3.4 million of proceeds, conditioned upon the marke
• $100 million — edit agreement with OCI Group for up to $100 million to further support our working capital

Filing Documents

• beam_i10q-033124.htm (10-Q) — 650KB
• beam_ex3101.htm (EX-31.1) — 10KB
• beam_ex3102.htm (EX-31.2) — 10KB
• beam_ex3201.htm (EX-32.1) — 4KB
• beam_ex3202.htm (EX-32.2) — 4KB
• 0001683168-24-003678.txt ( ) — 4405KB
• beem-20240331.xsd (EX-101.SCH) — 38KB
• beem-20240331_cal.xml (EX-101.CAL) — 58KB
• beem-20240331_def.xml (EX-101.DEF) — 152KB
• beem-20240331_lab.xml (EX-101.LAB) — 343KB
• beem-20240331_pre.xml (EX-101.PRE) — 284KB
• beam_i10q-033124_htm.xml (XML) — 522KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets at March 31, 2024 (Unaudited) and December 31, 2023 3 Condensed Consolidated Statements of Operations and Comprehensive Loss for the Three Months Ended March 31, 2024 and 2023 (Unaudited) 4 Condensed Consolidated Statements of Changes in Stockholders' Equity for the Three Months Ended March 31, 2024 and 2023 (Unaudited) 5 Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024 and 2023 (Unaudited) 6 Notes To Condensed Consolidated Financial Statements 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 18 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 24 Item 4.

Controls and Procedures

Controls and Procedures 25 PART II OTHER INFORMATION 27 Item 1.

Legal Proceedings

Legal Proceedings 27 Item 1A.

Risk Factors

Risk Factors 27 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 27 Item 3. Defaults Upon Senior Securities 27 Item 4. Mine Safety Disclosures 27 Item 5. Other Information 27 Item 6. Exhibits 28

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS Beam Global Condensed Consolidated Balance Sheets (In thousands, except share and per share data) March 31, December 31, 2024 2023 (Unaudited) Assets Current assets Cash $ 4,962 $ 10,393 Accounts receivable, net of allowance for credit losses of $ 112 and $ 447 20,139 15,943 Prepaid expenses and other current assets 2,216 2,453 Inventory, net 11,474 11,933 Total current assets 38,791 40,722 Property and equipment, net 15,597 16,513 Operating lease right of use assets 2,249 1,026 Goodwill 10,150 10,270 Intangible assets, net 8,769 9,050 Deposits 98 62 Total assets $ 75,654 $ 77,643 Liabilities and Stockholders' Equity Current liabilities Accounts payable $ 10,778 $ 9,732 Accrued expenses 3,812 2,737 Sales tax payable 211 209 Deferred revenue, current 1,007 828 Note payable, current 45 40 Deferred consideration, current – 2,713 Contingent consideration, current 4,330 – Operating lease liabilities, current 851 615 Total current liabilities 21,034 16,874 Deferred revenue, noncurrent 470 402 Note payable, noncurrent 178 160 Contingent consideration, noncurrent 248 4,725 Other liabilities, noncurrent 3,716 3,787 Deferred tax liabilities, noncurrent 1,662 1,698 Operating lease liabilities, noncurrent 1,444 455 Total liabilities 28,752 28,101 Stockholders' equity Preferred stock, $ 0.001 par value, 10,000,000 authorized, none outstanding as of March 31, 2024 and December 31, 2023. – – Common stock, $ 0.001 par value, 350,000,000 shares authorized, 14,438,270 and 14,398,243 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively. 14 14 Additional paid-in-capital 142,991 142,265 Accumulated deficit ( 96,398 ) ( 93,361 ) Accumulated Other Comprehensive Income (AOCI) 295 624 Total stockholders' equity 46,902 49,542 Total liabilities and stockholders' equity $ 75,

View Full Filing

View this 10-Q filing on SEC EDGAR