# Beam Global (BEEM)

> Source: Nexqual · https://nexqual.com/BEEM · data as of 2026-10-23 17:22 UTC · cite as "Nexqual, Beam Global (BEEM), nexqual.com/BEEM" · informational, not investment advice.

**Price:** USD 0.93 (+0.10% today) · US market open, as of October 23, 2026 at 17:22 UTC; quotes may be delayed. Prev close 0.93 · day 0.9–0.94 · 52w 0.82–3.09 · market cap $21.1M · NCM

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $26.5M, net income -$17.1M (-64.6% margin), free cash flow -$13.4M (SEC filings).
- Analysts: Buy (mean 2.00 on a 1–5 scale) (3 analysts), mean target USD 2.5 (range 1.5–3).
- Total return with dividends: 1Y -67.5% vs S&P 500 +14.4%; 5Y -97.0% vs S&P 500 +77.0%.
- Next earnings: 2026-11-13, EPS estimate USD -0.16, revenue estimate $6.2M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $9.0M | $22.0M | $67.4M | $49.3M | $28.2M | $26.5M |
| Gross profit | -$972K | -$1.7M | $1.2M | $7.3M | $3.5M | — |
| Operating income | -$6.6M | -$19.7M | -$16.3M | -$11.7M | -$27.5M | -$17.2M |
| Net income | -$6.6M | -$19.7M | -$16.1M | -$11.3M | -$27.0M | -$17.1M |
| EPS (diluted) | -$0.74 | -$1.99 | -$1.30 | -$0.77 | — | — |
| Free cash flow | -$6.9M | -$19.0M | -$14.2M | -$3.0M | -$10.9M | -$13.4M |
| Gross margin | -10.8% | -7.6% | 1.8% | 14.8% | 12.5% | — |
| Operating margin | -73.3% | -89.6% | -24.1% | -23.6% | -97.5% | -64.9% |
| Net margin | -73.3% | -89.5% | -23.8% | -22.9% | -95.6% | -64.6% |
| Revenue growth | +45.0% | +144.3% | +206.2% | -26.8% | -42.8% | — |
| Cash + short-term investments | $21.9M | $1.7M | $10.4M | $4.6M | $969K | — |
| Total debt | — | $0K | $160K | $199K | $131K | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 0.8x · EV/Sales 0.8x · P/B 1.0x · FCF yield -63.31% · Earnings yield -81.12% · Net cash $930K · EV $20.2M

## Analysts
Consensus Buy (mean 2.00 on a 1–5 scale), 3 analysts; mean target USD 2.5 (low 1.5, high 3).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-08-25 | Freedom Broker | Downgrade | Buy → Hold | $1.5 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | -67.5% | -97.0% |
| S&P 500 (SPY) | +14.4% | +77.0% |
| Per year | -67.5% | -50.6% |
| Volatility (annualized) | 78.6% | 75.1% |
| Max drawdown | -71.1% (Oct 2025→Oct 2026) | -97.3% (Nov 2021→Oct 2026) |

## Peers (Solar)
JKS (JinkoSolar Holding Company Limi) USD 8.32 +2.21% · ARRY (Array Technologies, Inc.) USD 3.18 -3.79% · CSIQ (Canadian Solar Inc.) USD 9.22 -0.00% · SHLS (Shoals Technologies Group, Inc.) USD 7.59 -1.88% · RUN (Sunrun Inc.) USD 7.55 -2.01% · SEDG (SolarEdge Technologies, Inc.) USD 33.19 +0.76%

## More
Full page: https://nexqual.com/BEEM · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in BEEM's own 10-K filed 2026-04-09 (https://www.sec.gov/Archives/edgar/data/1398805/000143774926011890/beem20251231_10k.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Platinum Group | "In UAE, we lease a 535 square foot office as part of a much larger office facility shared with our joint venture partner, the Platinum Group, in Omniah Tower, Corniche Abu Dhabi." |
| Partner | Tesla (TSLA) | "In order to facilitate this sponsored "Driving on Sunshine" initiative, Beam Global previously secured an agreement with Belgrade Airport, part of VINCI Airports, an operator of over 70 airports in 14 nations across the …" |
| Partner | OCI | "In March 2023, the Company entered into a supply chain line of credit agreement with OCI Group for up to $100 million with a 5-year term to further support our working capital requirements." |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Product | $7.5M | 87.7% | +10.6% |
| Professional Services | $752,000 | 8.8% | +864.1% |
| Shipping & Handling | $223,000 | 2.6% | +48.7% |
| Maintenance | $82,000 | 1.0% | +15.5% |
| Total revenue | $8.6M | 100% | — |

## Revenue by region (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $4.6M | 53.5% | +19.8% |
| Serbia | $1.8M | 20.7% | +29.3% |
| Romania | $1.2M | 14.2% | +70.8% |
| Croatia | $453,000 | 5.3% | +6.6% |
| Montenegro | $397,000 | 4.6% | +38.8% |
| Other | $146,000 | 1.7% | +11.5% |
| Total revenue | $8.6M | 100% | — |

## Customer concentration

Period ended 2026-06-30: 37%, 13%, 11% of revenue from unnamed direct customers (10-Q, filed 2026-08-19).

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.16 | $-0.15 | +4.4% | $6.2M | 3 |
| Next quarter (ends 2026-12-31) | $-0.14 | $-0.14 | +0.0% | $5.1M | 3 |
| Current fiscal year (ends 2026-12-31) | $-0.76 | $-0.82 | -7.3% | $23.0M | 3 |
| Next fiscal year (ends 2027-12-31) | $-0.61 | $-0.65 | -6.7% | $35.9M | 3 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-13): ±33.0%; last 8 reports averaged ±9%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 136.7% | ±33.0% |
| 2027-02-19 | 119 | 190.3% | ±73.1% |
| 2027-05-21 | 210 | 156.0% | ±87.9% |