Beam Global
For the period ended Sep 30, 2025. Filed Nov 14, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 14, 2025
BEEM$0.72+0.8%Stored close · as of Nov 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Table of Contents
| Page | ||
|---|---|---|
| PART I | FINANCIAL INFORMATION | 3 |
| Item 1. | Financial Statements (Unaudited) | 3 |
| Condensed Consolidated Balance Sheets at September 30, 2025 and December 31, 2024 | 3 | |
| Condensed Consolidated Statements of Operations and Comprehensive Loss for the Three and Nine Months Ended September, 2025 and 2024 | 4 | |
| Condensed Consolidated Statements of Changes in Stockholders’ Equity for the Three and Nine Months Ended September 30, 2025 and 2024 | 5 | |
| Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2025 and 2024 | 6 | |
| Notes To Condensed Consolidated Financial Statements | 7 | |
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 22 |
| Item 3. | Quantitative and Qualitative Disclosures About Market Risk | 29 |
| Item 4. | Controls and Procedures | 30 |
| PART II | OTHER INFORMATION | 31 |
| Item 1. | Legal Proceedings | 31 |
| Item 1A. | Risk Factors | 31 |
| Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds | 31 |
| Item 3. | Defaults Upon Senior Securities | 31 |
| Item 4. | Mine Safety Disclosures | 31 |
| Item 5. | Other Information | 31 |
| Item 6. | Exhibits | 32 |
| SIGNATURES | 33 | |
PART I. FINANCIAL INFORMATION
Item 1. Financial Statements
Condensed Consolidated Balance Sheets
(In thousands, except share and per share data)
| September 30, | December 31, | |
|---|---|---|
| 2025 | 2024 | |
| (Unaudited) | ||
| Assets | ||
| Current assets | ||
| Cash | $3,348 | $4,572 |
| Accounts receivable, net of allowance for credit losses of $504 and $259 | 5,891 | 8,027 |
| Prepaid expenses and other current assets | 1,554 | 2,243 |
| Inventory, net | 11,137 | 12,284 |
| Total current assets | 21,930 | 27,126 |
| Property and equipment, net | 13,588 | 13,704 |
| Operating lease right of use assets | 1,612 | 1,893 |
| Goodwill | - | 10,580 |
| Intangible assets, net | 7,349 | 8,037 |
| Deposits | 122 | 119 |
| Total assets | $44,601 | $61,459 |
| Liabilities and Stockholders' Equity | ||
| Current liabilities | ||
| Accounts payable | $6,316 | $8,959 |
| Accrued expenses | 1,877 | 2,462 |
| Sales tax payable | 512 | 195 |
| Deferred revenue, current | 1,564 | 847 |
| Note payable, current | 67 | 63 |
| Contingent consideration, current | 166 | 93 |
| Operating lease liabilities, current | 577 | 696 |
| Total current liabilities | 11,079 | 13,315 |
| Deferred revenue, noncurrent | 759 | 800 |
| Note payable, noncurrent | 148 | 199 |
| Contingent consideration, noncurrent | - | 216 |
| Other liabilities, noncurrent | 3,403 | 3,380 |
| Deferred tax liabilities, noncurrent | 1,926 | 1,290 |
| Operating lease liabilities, noncurrent | 765 | 971 |
| Total liabilities | 18,080 | 20,171 |
| Commitments and contingencies (Note 10) | ||
| Stockholders' equity | ||
| Preferred stock, $0.001 par value, 10,000,000 authorized, none outstanding as of September 30, 2025 and December 31, 2024 | - | - |
| Common stock, $0.001 par value, 350,000,000 shares authorized, 18,662,502 and 14,835,630 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively | 19 | 15 |
| Additional paid-in-capital | 155,987 | 147,072 |
| Accumulated deficit | (129,314) | (104,643) |
| Accumulated Other Comprehensive Income (AOCI) | (171) | (1,156) |
| Total stockholders' equity | 26,521 | 41,288 |
| Total liabilities and stockholders' equity | $44,601 | $61,459 |
Condensed Consolidated Statement of Operations and Comprehensive Loss
(Unaudited, in thousands except per share data)
| Three Months Ended · Nine Months Ended | ||||
|---|---|---|---|---|
| September 30, | September 30, | |||
| 2025 | 2024 | 2025 | 2024 | |
| Revenues | $5,788 | $11,482 | $19,187 | $40,855 |
| Cost of revenues | 5,816 | 10,251 | 17,280 | 35,789 |
| Gross (loss) income | (28) | 1,231 | 1,907 | 5,066 |
| Operating expenses | 4,844 | (51) | 16,010 | 11,623 |
| Impairment of goodwill | - | - | 10,780 | - |
| (Loss) income from operations | (4,872) | 1,282 | (24,883) | (6,557) |
| Other income (expense) | ||||
| Interest income | 14 | 58 | 51 | 167 |
| Other (expense) income | (5) | (33) | 181 | (238) |
| Interest expense | (7) | (10) | (20) | (28) |
| Other income (expense) | 2 | 15 | 212 | (99) |
| Net (Loss) income | $(4,870) | $1,297 | $(24,671) | $(6,656) |
| Net foreign currency translation (expense) benefit | (109) | 673 | 985 | 249 |
| Total comprehensive (loss) income | $(4,979) | $1,970 | (23,686) | $(6,407) |
| Net (loss) income per share - basic | $(0.28) | $0.09 | $(1.54) | $(0.46) |
| Net (loss) income per share - diluted | $(0.28) | $0.09 | $(1.54) | $(0.46) |
| Weighted average shares outstanding - basic | 17,692 | 14,702 | 16,063 | 14,558 |
| Weighted average shares outstanding - diluted | 17,692 | 14,711 | 16,063 | 14,558 |
Consolidated Statements of Changes in Stockholders’** Equity**
(Unaudited, in thousands)
| Accumulated Other Additional · Total · Accumulated Other · Total | ||||||
|---|---|---|---|---|---|---|
| Common Stock · Paid-in- · Accumulated · Comprehensive · Stockholders' | ||||||
| Stock | Amount | Capital | Deficit | Income | Equity | |
| Balance at December 31, 2024 | $14,919 | $15 | $147,072 | $(104,643) | $(1,156) | $41,288 |
| Stock issued for director services - vested | 30 | - | 94 | - | - | 94 |
| Stock issued to (released from) escrow account - unvested | 94 | - | - | - | - | - |
| Employee stock-based compensation expense | - | - | 352 | - | - | 352 |
| Impact of foreign currency translation | - | - | - | - | 461 | 461 |
| Net loss | - | - | - | (15,523) | - | (15,523) |
| Balance at March 31, 2025 | $15,043 | $15 | $147,518 | $(120,166) | $(695) | $26,672 |
| Stock issued for director services - vested | 30 | - | 93 | - | - | 93 |
| Stock issued to (released from) escrow account - unvested | (30) | - | - | - | - | - |
| Settlement of earnout related to acquisition | 28 | - | 93 | - | - | 93 |
| Employee stock-based compensation expense | - | - | 138 | - | - | 138 |
| Stock based compensation | 336 | - | 1,349 | - | - | 1,349 |
| Impact of foreign currency translation | - | - | - | - | 633 | 633 |
| Sale of stock under Committed Equity Facility | 1,452 | 1 | 2,191 | - | - | 2,192 |
| Net loss | - | - | - | (4,278) | - | (4,278) |
| Balance at June 30, 2025 | $16,859 | $16 | $151,382 | $(124,444) | $(62) | $26,892 |
| Stock issued for director services - vested | 30 | - | 94 | - | - | 94 |
| Stock issued to (released from) escrow account - unvested | (30) | - | - | - | - | - |
| Employee stock-based compensation expense | - | - | 128 | - | - | 128 |
| Impact of foreign currency translation | - | - | - | - | (109) | (109) |
| Sale of stock under Committed Equity Facility | 1,804 | 3 | 4,383 | - | - | 4,386 |
| Net loss | - | - | - | (4,870) | - | (4,870) |
| Balance at September 30, 2025 | $18,663 | $19 | $155,987 | $(129,314) | $(171) | $26,521 |
| Accumulated Other Additional · Total · Accumulated Other · Total | ||||||
|---|---|---|---|---|---|---|
| Common Stock · Paid-in- · Accumulated · Comprehensive · Stockholders' | ||||||
| Stock | Amount | Capital | Deficit | Income | Equity | |
| Balance at December 31, 2023 | $14,398 | $14 | $142,265 | $(93,361) | $625 | $49,542 |
| Stock issued for director services - vested | - | - | 6 | - | - | 6 |
| Employee stock-based compensation expense | - | - | 468 | - | - | 468 |
| Warrants exercised for cash | 40 | - | 252 | - | - | 252 |
| Impact of foreign currency translation | - | - | - | - | (329) | (329) |
| Net loss | - | - | - | (3,037) | - | (3,037) |
| Balance at March 31, 2024 | $14,438 | $14 | $142,991 | $(96,398) | $296 | $46,902 |
| Stock issued for director services - vested | 0 | - | 6 | - | - | 6 |
| Employee stock-based compensation expense | - | - | 446 | - | - | 446 |
| Warrants exercised for cash | 88 | - | 558 | - | - | 558 |
| Impact of foreign currency translation | - | - | - | - | (95) | (95) |
| Sale of stock under Committed Equity Facility | 82 | - | 496 | - | - | 496 |
| Net loss | - | - | - | (4,916) | - | (4,916) |
| Balance at June 30, 2024 | $14,608 | $14 | $144,497 | $(101,314) | $201 | $43,397 |
| Stock issued for director services - vested | 56 | - | 350 | - | - | 350 |
| Stock issued to (released from) escrow account - unvested | 98 | - | - | - | - | - |
| Employee stock-based compensation expense | - | - | 483 | - | - | 483 |
| Proceeds from issuance of common stock, pursuant to public offering | - | 1 | - | - | - | 1 |
| Stock option exercise and restricted stock unit vestings (cashless) | 12 | - | (164) | - | - | (164) |
| Impact of foreign currency translation | - | - | - | - | 673 | 673 |
| Stock issued for acquisition and expenses | - | - | 387 | - | - | 387 |
| Net income | - | - | - | 1,297 | - | 1,297 |
| Balance at September 30, 2024 | $14,774 | $15 | $145,553 | $(100,017) | $874 | $46,424 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.