BEAM GLOBAL Reports Strong Second Quarter FY2023 Earnings Results
August 18, 2023
☀️Earnings Overview
BEAM GLOBAL ($NASDAQ:BEEM) announced its financial results for the second quarter of FY2023, which concluded on June 30 2023. Revenues surged to USD 17.8 million, up from 3.7 million reported in the same quarter of last year. However, net income decreased to USD -3.5 million, down from the -2.8 million reported in the prior year quarter.
Share Price
On Monday, BEAM GLOBAL reported its strong second quarter FY2023 earnings results. The stock opened at $9.4 and closed at $9.6, representing a 2.5% increase from its previous closing price of $9.4. This marks the fourth consecutive quarter in which BEAM GLOBAL has reported strong earnings results. He added that the company was looking to expand its product portfolio to capitalize on new opportunities in the market.
The company’s strong performance in the second quarter is a testament to its commitment to delivering consistent growth and shareholder value. Investors should take note of BEAM GLOBAL’s strong performance and consider investing in the stock in order to capitalize on potential future gains. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Beam Global. More…
| Total Revenues | Net Income | Net Margin |
| 45.35 | -21.96 | -48.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Beam Global. More…
| Operations | Investing | Financing |
| -15.75 | -1.33 | 27.01 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Beam Global. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 66.73 | 13.38 | 3.83 |
Key Ratios Snapshot
Some of the financial key ratios for Beam Global are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 107.8% | – | -48.4% |
| FCF Margin | ROE | ROA |
| -37.7% | -36.5% | -20.6% |
Analysis
As a financial analysis firm, GoodWhale conducted an in-depth analysis of BEAM GLOBAL‘s financials. The results showed that this company is a high risk investment in terms of both financial and business aspects. Our Risk Rating system identified four risk warnings in the income sheet, balance sheet, cashflow statement and financial journal. If you are interested in learning more about these potential risks, please register with us to get access to our detailed report. More…
Peers
In the fight to go green and provide sustainable energy, Beam Global and its competitors are vying for the top spot. Solar energy is becoming increasingly popular as an eco-friendly alternative to traditional forms of energy. As more and more people are looking to reduce their carbon footprint, solar companies are seeing a surge in demand for their products. Beam Global is one of the leading solar energy providers in the United States, but it faces stiff competition from other companies such as Go Solar USA Inc, Universal Solar Technology Inc, and Enphase Energy Inc.
– Go Solar USA Inc ($OTCPK:GSLO)
Solar power is one of the most promising renewable energy sources available today. Solar photovoltaic (PV) panels convert sunlight into electricity, making solar power a clean, emissions-free alternative to fossil fuels. Solar power is also becoming increasingly cost-effective as technology advances and more businesses and homeowners adopt solar PV systems.
Go Solar USA is a leading provider of solar PV systems for residential and commercial customers. The company has a strong track record of delivering quality solar PV systems and providing excellent customer service. Go Solar USA’s market cap is $294.42 million and its ROE is 8.3%. The company is well-positioned to continue growing its business and expanding its reach in the solar PV market.
– Universal Solar Technology Inc ($OTCPK:UNSS)
solar technology company that designs, manufactures and sells a range of photovoltaic products, including solar cells, modules, systems and related products. The Company’s products are used in a variety of applications, including residential, commercial, industrial, governmental and military. Universal Solar Technology Inc has a market cap of 1.44M as of 2022, a Return on Equity of 0.89%. The company’s products are used in a variety of applications, including residential, commercial, industrial, governmental and military. Universal Solar Technology Inc is committed to providing solar products that are reliable, efficient and cost-effective.
– Enphase Energy Inc ($NASDAQ:ENPH)
Enphase Energy Inc is a publicly traded energy technology company headquartered in Fremont, California. The company’s core product is its Home Energy Solution, a solar power system that uses microinverters to convert direct current (DC) electricity generated by photovoltaic panels into alternating current (AC) electricity.
As of 2022, Enphase Energy Inc has a market cap of 34.06B and a Return on Equity of 58.92%. The company’s core product is its Home Energy Solution, a solar power system that uses microinverters to convert DC electricity generated by photovoltaic panels into AC electricity. Enphase Energy Inc has a strong focus on innovation and technology, which has resulted in a highly efficient and reliable product. The company’s mission is to make solar power more affordable and accessible to everyone.
Summary
Investors in BEAM Global should be encouraged by the significant increase in total revenue from 3.7 million to 17.8 million in the second quarter of FY2023. On the other hand, net income decreased from -2.8 million to -3.5 million when compared to the same period last year. Despite these results, investors should be optimistic about the future prospects of the company due to its strong financial growth and diverse portfolio of products. Given these numbers, investors should continue to monitor BEAM Global’s performance and consider adding it to their portfolios.
Related Posts
Recent Posts
