Recent Updates — BEEM
Beam Global entered into a Share Sale and Purchase Agreement on October 6, 2026, to acquire all outstanding shares of ScoutDI AS. The aggregate base purchase price is $24,000,000, payable 90% in cash and 10% in common stock, subject to customary adjustments for working capital and transaction expenses. Sellers may elect additional share consideration up to a Nasdaq-defined cap, with excess paid in cash. The deal includes earn-out payments based on ScoutDI's revenue performance in fiscal years 2026 and 2027, potentially adding $3,800,000 for 2026 if targets are met. Closing is expected by November 4, 2026, subject to customary conditions including receipt of financial statements. Beam Global develops and supplies drone-based inspection solutions and software for industrial clients.
On September 21, 2026, Beam Global's Board of Directors approved stock awards under its 2021 Equity Incentive Plan as bonus compensation for fiscal year 2025 performance. President and CEO Desmond Wheatley received 250,000 shares, while CFO Lisa A. Potok was awarded 90,000 shares. Beam Global operates in the renewable energy sector, specializing in solar-powered smart lighting solutions.
On September 22, 2026, Beam Global announced it entered into a non-binding letter of intent to acquire a vertically integrated European drone technology company. The proposed transaction aims to position Beam as a vertically integrated drone and AI-enhanced software manufacturer. If completed, Beam intends to manufacture the target's U.S. Department of War Conditionally Approved Drone System in its existing U.S. facilities, complying with onshoring requirements. The acquisition is subject to due diligence, negotiation, and customary closing conditions, with no assurance that definitive agreements will be executed or the deal closed. Beam Global operates in the sustainable technology sector, developing infrastructure products for energy storage, mobility electrification, and smart city solutions.
Beam Global reported second quarter 2026 financial results for the period ended June 30, 2026. Revenue increased 174% to $8.6 million from $3.1 million in Q1 2026 and rose 21% year-over-year. The company posted a net loss of $3.1 million, or $(0.14) per share, compared to a $4.3 million loss in the prior year period. Gross margin stood at 17.8%, with an adjusted non-GAAP gross margin of 26.2%. Operating expenses were reduced by over $400,000, and the company reported a backlog of $5.4 million as of June 30, 2026. Beam Global operates in the sustainable technology sector, developing and manufacturing infrastructure products for energy security, transportation, and smart cities.
Beam Global entered into a lease agreement on June 17, 2026, with the Ron L. and Jacqueline S. Reynolds Family Trust for two industrial buildings in Yuma, Arizona. Spanning approximately 54,400 square feet, the premises will support office, warehouse, and manufacturing operations. The lease for 653 E. 20th Street begins July 15, 2026, for five years, while 655 E. 20th Street begins January 1, 2027, for four years and seven months. Monthly base rent scales from $7,810.25 in July 2026 to $30,596.39 by August 2030, with a rent abatement period from August to December 2026. The agreement includes an exclusive purchase option starting at $4,500,000, increasing by 3% annually. Beam Global provides solar-powered EV charging solutions.