Beam Global reports Q2 purchase orders of $10.6 million, up 128% Y/Y

Beam Global (NASDAQ:BEEM) announces record Q2 new orders of $10.6 million, up 128% Y/Y, with over half of U.S. orders from new customers.
The company’s new orders from U.S. commercial business in Q2 increased 66% Y/Y.
In Europe, Beam Global shipped its first EV ARC™ systems to Cyprus for the UK Ministry of Defence, expanding its footprint into the European market. The company added that over half of Q2 EV ARC™ orders are multi-unit orders.
“We are about to introduce a new, sustainable curbside EV charging infrastructure product, and we have several other new products in our patent pipeline. We continue to be debt-free, have sufficient cash on hand, and have access to an untapped one-hundred-million-dollar line of credit,” said Desmond Wheatley, CEO of Beam Global.