The mixed results reflect a painful strategic pivot: while full-year revenue and net loss are bearish, the strong Q4 rebound, improved non-GAAP margins, and growing backlog suggest the shift to commercial and international markets is gaining traction. Traders should monitor the next quarterly report for sustained revenue growth and whether the $10.8 million goodwill impairment signals deeper operational issues or is truly just an accounting artifact of the stock price decline.
Price Chart
Executive Summary
Beam Global reported full-year 2025 revenue of $28.2 million, down from $49.3 million in 2024, driven by the loss of U.S. federal government EV infrastructure orders. However, Q4 2025 revenue rose 56% sequentially to $9.0 million with an 18% gross margin, and non-GAAP gross margin improved to 23%. The company highlighted a strategic shift toward commercial and international markets, including a Middle East joint venture, and maintained a debt-free balance sheet with a $100 million unused credit line.
Key Financial Metrics
Key Facts
- Full-year 2025 revenue was $28.2 million, down 42.8% from $49.3 million in 2024, primarily due to the cessation of U.S. federal government EV charging orders.
- Q4 2025 revenue was $9.0 million, a 56% increase from Q3 and a 7% year-over-year increase.
- Full-year 2025 GAAP gross margin was 12.5%, down from 14.8% in 2024, but non-GAAP gross margin improved to 23% from 21.2%.
- The company incurred a $10.8 million goodwill impairment in 2025, a non-cash charge related to a decline in stock price.
- Backlog increased to $9.0 million as of March 31, 2026, up from $6.0 million at year-end 2025.
- The company remains debt-free with a $100 million unused line of credit.
Financial Impact
Revenue declined 42.8% YoY for the full year, but Q4 showed a 56% sequential rebound. A $10.8 million non-cash goodwill impairment significantly impacted net loss.
Risk Factors
- The significant year-over-year decline in full-year revenue and net loss raise concerns about the company's top-line stability.
- The $10.8 million goodwill impairment, while non-cash, is a red flag that the market value of the company's acquisitions has been severely questioned.
- The company's narrative hinges on future international and commercial growth, which is uncertain and may not materialize as expected.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001437749-26-011917 |
| Document: beem20260409_8k.htm | 0001437749-26-011917 |
| Document: 0001437749-26-011917-index-headers.html | 0001437749-26-011917 |
| Document: 0001437749-26-011917-index.html | 0001437749-26-011917 |
| Document: 0001437749-26-011917.txt | 0001437749-26-011917 |
| 8-K Data (Synthetic) | 0001437749-26-011917 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 27, 2026 today | Press Release | $0.9090 | awaiting T+60 | — | $0.8920 (−1.87%) |
Oct 15, 2026 12d ago | 8-K | $0.8928 | awaiting T+60 | — | $0.8920 (−0.09%) |
Oct 15, 2026 12d ago | Press Release | $0.9594 | awaiting T+60 | — | $0.8920 (−7.03%) |
Oct 13, 2026 14d ago | Press Release | $1.04 | awaiting T+60 | — | $0.8920 (−13.82%) |
Oct 7, 2026 20d ago | 8-K | $1.08 | awaiting T+60 | — | $0.8920 (−17.41%) |
Oct 1, 2026 26d ago | Press Release | $1.13 | awaiting T+60 | — | $0.8920 (−21.06%) |
Sep 22, 2026 5w ago | 8-K | $1.28 | awaiting T+60 | — | $0.8920 (−30.31%) |
Sep 22, 2026 5w ago | Press Release | $1.28 | awaiting T+60 | — | $0.8920 (−30.31%) |
Sep 17, 2026 5w ago | Press Release | $1.35 | awaiting T+60 | — | $0.8920 (−33.93%) |
Aug 19, 2026 9w ago | Press Release | $1.36 | awaiting T+60 | — | $0.8920 (−34.41%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers