Shares of Beam Global (NASDAQ:BEEM) are trading sharply higher Wednesday afternoon, despite a lack of company-specific news for the session. The company last week posted its second-quarter financial update, delivering a top- and bottom-line beat alongside expanding market opportunities in drone, defense and AI infrastructure battery applications.
Beam Global stock is charging ahead with explosive momentum. What’s behind BEEM gains?
Q2 Earnings Beat Driven By 174% Sequential Revenue Growth
For the second quarter ended June 30, Beam Global reported revenue of $8.56 million, a 21% increase year-over-year and a 174% jump sequentially from first-quarter, topping Wall Street consensus estimates of $8.19 million.
The company posted a GAAP net loss of $3.1 million, or 14 cents per share, beating consensus analyst expectations of a 20 cent loss per share. Non-GAAP gross margin stood at 26.2% (excluding non-cash depreciation and amortization), supported by ongoing expense reductions and international growth.
