Beam Global Reports Q2 Revenue Rise to $8.6M Amid Yuma Lease Savings
Beam Global (NASDAQ:BEEM) reported second-quarter revenue of $8.6 million, reflecting a significant quarterly increase of 174%. The company attributed this growth in part to converting a substantial portion of its backlog into shipments during the quarter. Additionally, Beam outlined nearly $3 million in rent savings over five years from a new lease agreement in Yuma. The firm ended June with a remaining backlog of $5.4 million, indicating continued demand for its products and services despite recent shipment progress. These developments suggest strong operational momentum as Beam continues to scale production and manage costs effectively through strategic leasing decisions.
Topics: Backlog Update Beam Global Q2 Earnings Call Revenue Report