Beam Global Shares Rise 16% After 4Q Revenue Hits Record High

Dow Jones04-18

By Stephen Nakrosis

Shares of Beam Global were higher Wednesday, a day after the company reported fourth-quarter financial results and said it achieved record full-year revenues.

In afternoon trading, the company's stock was trading 16% higher, at $6.40 a share.

After the bell Tuesday, Beam reported a fourth-quarter loss of $5.1 million and revenue of $20 million. The quarterly revenue was up 154% year-over-year and the highest quarterly revenue in company history, Beam said.

The company said its full-year revenues came in at $67.4 million, a 206% year-over-year increase.

Beam Global said it provides infrastructure solutions for the electrification of transportation and energy security.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

April 17, 2024 14:09 ET (18:09 GMT)

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