Business
Beam Global Reports Fiscal Year 2021 Financial Results
Conference Call Today at 4:30 p.m. ET SAN DIEGO, March 30, 2022 (GLOBE NEWSWIRE) -- Beam Global, (Nasdaq: BEEM, BEEMW), (the “Company”), the leading provider
About this update from Beam Global
[{"type":"text","content":"Conference Call Today at 4:30 p.m. ET\nSAN DIEGO, March 30, 2022 (GLOBE NEWSWIRE) -- Beam Global, (Nasdaq: BEEM, BEEMW), (the “Company”), the leading provider of innovative sustainable products and technologies for electric vehicle (EV) charging, energy storage, energy security and outdoor media, today announced the financial results for the fiscal year ended December 31, 2021. Fiscal 2021 and Recent Company Highlights Generated record annual revenues of $9.0 million in 2021134% growth in new orders year-over-year67% growth in system deliveries year-over-year66% growth in Q4 2021 system deliveries over Q3 2021Acquired energy storage leader AllCell Technologies in an all-stock transactionRecord revenue of $1.9M and orders of $2.9M in the first full year on the federal GSA contractReceived the largest single order in company history of 52 unitsBeam EV charging systems are now in 29 U.S. statesExpanded non-government sales among business sectors including automotive, commercial real estate, construction, travel and entertainment, pharmaceuticals and educationIncreased sales to utilitiesReceived first battery order of $2.3 million within weeks of the acquisition of AllCell TechnologiesSet the world record for the longest flight in a production electric aircraft, charged exclusively by transportable, off-grid EV ARC™ systemsIncreased EV ARC™ system energy performance by 12%Granted eligibility in the California Energy Commissions CALeVIP incentive programGranted eligibility in Carl Moyer incentive programStreamlined production and deployment for significant gain in efficienciesChinese patent issued for Compact Transportation-Configurable EV ARC™ System “2021 was a year in which we broke record after record,” said Desmond Wheatley, CEO of Beam. “Most importantly, we had material improvements in sales, revenues, deliveries and performance. At the same time, we reduced our costs as a percentage of revenues during the most severe inflationary period in over forty years. We are now seeing dramatic increases in spending on EVs and EV charging infrastructure in the US and internationally so I anticipate that all the positive trends we put in place in 2021 will continue and accelerate in 2022. Acquiring AllCell Technologies uniquely positions us in the industry as the only provider with a proprietary energy storage solution and at the same ti...