Beam Global (BEEM): Government sales, product-led revenue and concentrated customer risk

Beam Global designs, manufactures and sells renewably powered infrastructure — primarily the off-grid EV ARC™ charging system and energy‑dense battery products — and monetizes through unit sales, multi‑year maintenance plans, and long-term public contracts (notably GSA and State agreements). Revenue is heavily driven by government procurement and a small number of large contracts, while recurring maintenance deposits and prepaid service arrangements provide multi‑year cash visibility. For an annotated map of these customer ties, visit https://nullexposure.com/.

What investors need to know about how Beam operates and gets paid

Beam is a product manufacturer and seller: it builds hardware (EV ARC, battery systems, street‑furniture solar installations) and sells those systems directly into public‑sector fleets, municipal programs and specialty commercial buyers. The company’s operating model shows four defining characteristics:

• Contracting posture — long‑term receipts and multi‑year service obligations. Beam reports prepaid multi‑year maintenance plans and customer deposits that support services into 2035 and holds a five‑year GSA Multiple Award Schedule contract awarded in 2020 that streamlines federal and state procurement.
• Customer concentration — meaningful single‑buyer risk. Government customers dominate: 62% of 2024 revenue came from federal, state and local governments, and two large contracts (the State of California and the GSA MAS) collectively represented 58% of 2024 revenue.
• Criticality and segment focus — infrastructure and resiliency. Products target fleet electrification, disaster preparedness and energy security — applications with high criticality for municipal and federal customers, which supports willingness to award large public contracts.
• Maturity and spend profile — commercial‑scale but still concentrated spend. Beam has sold hundreds of EV ARC units across multi‑year contracts (e.g., 717 units for $55.6 million in prior years and 189 units for $16.5 million in 2024), placing the company in a mid‑market commercial position versus high‑volume OEMs.

These are company-level signals drawn from public filings and the company’s contract disclosures; they shape revenue volatility, procurement lead times and the working capital profile investors should model.

Learn more about relationship risk and contract exposure at https://nullexposure.com/.

Who the customers are — what each relationship contributes

Below are plain‑English summaries of every customer relationship reported in Beam's customer results, with source references.

U.S. Army

The U.S. Army accounted for 15% of Beam’s 2024 revenue, underscoring substantial federal procurement exposure. This is disclosed in Beam’s FY2024 10‑K filing (Dec 31, 2024).

Department of Homeland Security

Beam reports the Department of Homeland Security as generating 7% of 2024 revenue, reflecting another significant federal buyer in the company’s top customer list (FY2024 10‑K).

State of California

The State of California is a material contracting counterparty whose contract can be used by many state and local agencies; the California contract and the GSA MAS together drove 58% of 2024 revenues per company disclosure (FY2024 10‑K).

New Jersey Department of the Treasury (New Jersey Treasury)

New Jersey’s Treasury purchased multiple EV ARC systems via Beam’s GSA schedule, a competitive public procurement announced in early 2026 that supports resilient workplace charging for state employees (press release and news coverage, Jan 2026 / March 2026).

New Jersey Department of Environmental Protection (NJ DEP)

NJ DEP is listed as one of the New Jersey state divisions that has deployed EV ARC systems, part of the state’s broader adoption of Beam products (company press release and news items, Jan 2026 / March 2026).

New Jersey Department of Transportation (NJ DOT)

NJ DOT is cited as another New Jersey division deploying EV ARC systems, indicating cross‑agency demand within the state government program (press release and industry news, Jan 2026 / March 2026).

City of Fresno

The City of Fresno deployed seven EV ARC systems for municipal fleet electrification, a December 2025 announcement that demonstrates Beam’s traction in city fleet projects (GlobeNewswire release, Dec 17, 2025).

Fresno, CA (as reported in news summaries)

Multiple media summaries reiterate the Fresno deployment and its role in municipal fleet electrification, reinforcing the City of Fresno engagement (news coverage, Jan 2026).

Ypsilanti Performance Space

Beam deployed off‑grid solar EV ARC charging at the Ypsilanti Performance Space to support charging during multi‑day neighborhood outages, illustrating demand from community and non‑profit venues (news item, March 2026).

dronePREMIUM

Beam secured a substantial battery order from dronePREMIUM, highlighting a commercial channel for Beam’s battery products beyond fixed EV infrastructure (industry news reporting, early 2026).

Ray Systems

Ray Systems selected Beam to develop battery systems for underwater drones under a contract announced in late 2025, signaling specialized defense and robotics use cases for Beam battery technology (news report, Dec 2025).

Sweetwater Police

Sweetwater Police adopted BeamPatrol off‑grid eMotorcycle charging bundles, showing Beam’s penetration into law enforcement and first‑responder fleets (news summary, 2026).

Department of Transportation (generic entry)

Industry coverage referenced a state Department of Transportation as an existing deployer of EV ARC systems as part of a multi‑agency New Jersey rollout, corroborating Transportation department adoption (ChargedEVs / industry news, early 2026).

Department of Environmental Protection (generic entry)

Press materials and coverage identify a state Department of Environmental Protection as a prior deployer within New Jersey’s program, confirming environmental agency demand for resilient charging systems (ChargedEVs / GlobeNewswire, Jan 2026).

What these relationships imply for investors

• Revenue concentration is tangible and government‑heavy. The FY2024 filing shows 62% of revenue from public buyers; two large contracts represented 58% of sales in 2024, creating material single‑contract risk if awards or purchase schedules change.
• Procurement channels reduce sales friction but lengthen cycles. The GSA MAS and a standing California contract create repeatable procurement pathways, supporting predictable multi‑year sales while anchoring Beam’s sales cycles to public budgeting rhythms.
• Diversification is advancing but incomplete. International sales grew to 25% of revenue in 2024 and multiple municipal / commercial orders (Fresno, Ypsilanti, drone firms) broaden end markets, but a handful of government contracts still dominate near‑term cash flow.

For deeper modeling of counterparty concentration and contract tail‑risk, see firm‑level relationship analytics at https://nullexposure.com/.

Bottom line and investor actions

Beam’s business is product sales to government and fleet operators, supported by long‑term service plans and GSA access; that structure delivers meaningful revenue visibility but also high customer concentration and procurement timing risk. Investors should model scenarios that stress major public contract renewal timing and maintenance revenue recognition.

If you evaluate government procurement exposure or need contract‑level intelligence, visit https://nullexposure.com/ for a focused briefing and relationship map.