Beam Global (BEEM, Financial) disclosed its fiscal year 2024 revenue at $49.3 million, falling short of analysts' expectations of $53.32 million. Despite the revenue miss, the company experienced significant growth over the year, marked by extensive product launches and geographical expansion.
Throughout 2024, Beam Global introduced a broader range of new e-mobility and energy security products than in the last decade, and ventured into new international markets with substantial customer bases. A strategic acquisition in Serbia was completed, designed to enhance the competitiveness and cost-effectiveness of Beam's offerings. Additionally, the company expanded its patent portfolio, reinforcing its technological edge and securing contracts with clients requiring uniquely tailored solutions.
The company reported notable improvements in gross profitability, setting a course toward positive cash flow. Financially, Beam Global remains robust, boasting sufficient cash reserves and working capital to support ongoing operations, with the added security of an untouched $100 million line of credit. Despite challenges stemming from economic and political uncertainty in the United States, Beam Global anticipates continued growth in 2025, driven by its expanded product lineup and geographic reach.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 4 analysts, the average target price for Beam Global (BEEM, Financial) is $5.50 with a high estimate of $7.00 and a low estimate of $5.00. The average target implies an upside of 212.50% from the current price of $1.76. More detailed estimate data can be found on the Beam Global (BEEM) Forecast page.
Based on the consensus recommendation from 5 brokerage firms, Beam Global's (BEEM, Financial) average brokerage recommendation is currently 2.2, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Beam Global (BEEM, Financial) in one year is $20.47, suggesting a upside of 1063.07% from the current price of $1.76. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Beam Global (BEEM) Summary page.
