Beam Global Q3 FY2025 earnings call

• Middle East Expansion: Beam Middle East, a joint venture with Platinum Group, opened offices in Abu Dhabi. Participated in DRIFTx event, showcasing EV ARC and BeamBike with wireless charging for autonomous vehicles.
• Product Innovations: Developed battery solutions for drones with double energy density and longer lifespan. BeamWell product deployed in Jordan for humanitarian relief.
• Europe Operations: Beam Europe contributed ~40% of Q3 2025 revenue, won awards for EV ARC deployments in European cities.
• Growth Opportunities: Expanded product portfolio and geographies, with new opportunities in Middle East and Europe despite challenges.

For the third quarter of 2025, revenues were $5.8 million, with year-to-date revenues as of September 2025 at $19.2 million compared to $40.9 million in the same period of 2024. The revenue decrease is due to order timing. Contracted backlog as of the end of Q3 2025 was $8 million. Gross profit for Q3 2025 was a negative $28,000 (0.5% gross margin loss) compared to 11% in Q3 2024. Year-to-date gross margin in 2025 was 10% vs 12% in 2024; excluding noncash items, YTD 2025 gross margin was 22% vs 18% in 2024. Operating expenses for Q3 2025 were $4.8 million vs a credit of $50,000 in 2024. YTD 2025 operating expenses were $26.8 million including noncash $15.4 million. Net loss for Q3 2025 was $4.9 million vs $1.3 million profit in 2024; excluding noncash items, Q3 2025 net loss was $2.8 million vs $3 million in 2024. YTD 2025 net loss excluding noncash was $7 million vs $5.8 million in 2024. Revenues for the 9 months ending September 30, 2025 were 67% from commercial customers (vs 31% in 2024) and 39% from international customers (vs 20% in 2024).

• Revenue expected to grow in future quarters as order timing improves.
• Fixed overhead absorption is expected to improve.
• Anticipates continued growth from expanded product portfolio and geographic expansions.

• Delayed federal government orders in the US affecting revenue timing.
• Political unrest in Europe and the US impacting product deliveries.
• Dependence on third-party components affecting product reliability and margin.

Q: On wireless charging sales efforts A: Wireless charging important for autonomous vehicles; car OEMs need to integrate receivers, but autonomous vehicle companies are more entrepreneurial and regulations less stringent in Middle East Q: Battery business trial periods A: Varies by customer, some quick moves, others longer development with engineering paid Q: Middle East opportunity cadence A: Bullish on market, new to market but with Platinum Group's credibility, expect quick progress Q: Manufacturing capacity A: Excess capacity in US, Europe acquisition provides 5x factory space, Middle East sales fulfilled from Europe factory Q: Stock price and dividends A: Market not always rational, good companies rewarded, focus on shareholder value, dividends possible in future