Persistent cash burn is highlighted by a 2026Q1 free cash flow margin of -74.0%, indicating a fundamental inability to fund operations through internal cash generation.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 |
|---|
| Cash from Operations | -10.99M | -10.48M | -2.19M | -13.31M | -18.11M | -6.41M | -4.14M | -4.83M | -712.46K | -3.44M | -1.8M | -2.47M | -1.82M | -1.59M | -1.16M | -1.97M | -1.11M | -5.27K | -2.9M | -7.91K |
| Operating CF Margin % | - | -37.12% | -4.45% | -19.76% | -82.36% | -71.18% | -66.63% | -94.42% | -11.56% | -243.43% | -64.67% | -93.46% | -175.83% | -566.4% | -161.09% | -85.57% | -320.28% | - | -119.83% | - |
| Operating CF Growth % | -735.42% | -377.98% | 83.52% | 26.54% | -182.68% | -54.85% | 14.26% | -577.42% | 79.27% | -91.1% | 27.16% | -35.89% | -14.16% | -36.88% | 41% | -77.11% | -21003.62% | 99.82% | -36523.83% | - |
| Net Income | -18.34M | -27M | -11.28M | -16.06M | -19.68M | -6.6M | -5.21M | -3.93M | -3.6M | -3.04M | -2.63M | -1.84M | -3.15M | -2.79M | -2.48M | -2.55M | -2.36M | -14.67K | -9.6M | -13.56K |
| Depreciation & Amortization | 5.62M | 4.53M | 4.5M | 1.86M | 1.12M | 125K | 21.04K | 40.5K | 62.84K | 69.38K | 102.44K | 139.03K | 41.39K | 44.36K | 60.43K | 65.03K | 62.74K | 0 | 84.21K | 0 |
| Stock-Based Compensation | 3.18M | 2.97M | 3.6M | 2.67M | 2.44M | 1.19M | 1.18M | 404.85K | 111.57K | 220.08K | 442.87K | 15.83K | 457.15K | 74.26K | 766.73K | 1.31M | 41.76K | 0 | 4.35M | 0 |
| Deferred Taxes | -2.19M | -579K | 0 | -326K | 0 | 0 | 0 | 0 | -16.26K | -132.6K | -324.5K | 268.14K | -404.55K | 232.47K | 60.25K | 0 | 868.59K | 0 | 1.43M | 0 |
| Other Non-Cash Items | 25.33M | 11.37M | -4.41M | 37K | 5.54M | 0 | 5.99K | 528.85K | 1.1M | 349.29K | 74.63K | 134.39K | 796.19K | 667.5K | 65.03K | -2.87M | 795.53K | 0 | 1.54M | 0 |
| Working Capital Changes | -1.93M | -1.76M | 5.4M | -1.5M | -7.53M | -1.12M | -133.62K | -1.87M | 1.63M | -1.03M | 214.86K | -919.06K | 34.45K | 416.12K | 426.73K | -474.79K | 348.02K | 9.4K | 716.14K | 5.64K |
| Change in Receivables | 413K | -526K | 8.18M | -9.45M | -602K | -2.04M | -1.02M | 523.74K | -1.28M | 1.16M | -329.96K | -740.1K | 76.24K | 138.36K | 1.13M | -1.41M | -37.05K | 0 | -219.48K | 0 |
| Change in Inventory | 1.48M | 2.84M | -201K | 2.58M | -8.24M | -486K | 1.06M | -110.45K | 1.24M | -2M | 166.24K | -20.49K | -328.43K | 36.85K | -56.33K | 245.86K | 205.96K | 0 | 83.43K | 0 |
| Change in Payables | -2.23M | -3.34M | -889K | 4.83M | 1.29M | 816K | 242.9K | -883.24K | 881.57K | -386.32K | 351.69K | 274.49K | 108.9K | -58.44K | -948.61K | 651.61K | 338.13K | -100 | 832.38K | 2K |
| Cash from Investing | -459K | -482K | -4.05M | -5.71M | -1.81M | -582K | -358.9K | -109.59K | -32.28K | -26.36K | -153.2K | -263.54K | -76.09K | -41.95K | -9.57K | -12.96K | -15.2K | 0 | -261.6K | 0 |
| Capital Expenditures | -481K | -418K | -828K | -937K | -1M | -498K | -265.76K | -32.84K | -82.55K | -26.36K | -153.2K | -263.54K | -76.09K | -41.95K | -9.57K | -12.96K | -15.2K | 0 | -252.6K | 0 |
| CapEx % of Revenue | 1.92% | 1.48% | 1.68% | 1.39% | 4.55% | 5.53% | 4.28% | 0.64% | 1.34% | 1.87% | 5.51% | 9.97% | 7.36% | 14.93% | 1.33% | 0.56% | 4.37% | - | 10.45% | - |
| Acquisitions | 0 | 0 | -513K | -4.65M | -811K | 0 | 0 | 0 | 50.27K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -9K | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 22K | -64K | -2.71M | -120K | 0 | -84K | -93.14K | -76.75K | 50.27K | -2.47K | -37.31K | -36.62K | -76.09K | -41.95K | -9.57K | -12.96K | 0 | 0 | -71.2K | 0 |
| Cash from Financing | 10.89M | 7.47M | 1.2M | 27.72M | -342K | 2.24M | 27.35M | 8.54M | 585.29K | 3.86M | 1.93M | 1.38M | 2.88M | 1.77M | 961K | 2.39M | 1.17M | 0 | 2.9M | 20K |
| Debt Issued (Net) | 15K | 0 | 61K | 0 | 0 | 0 | -9.29K | -3.48M | 537.32K | 1.59M | 179.24K | 579.45K | 0 | -12.07K | 0 | 965.75K | 56.19K | 295K | 0 | 0 |
| Equity Issued (Net) | 9.02M | 7.8M | 497K | 27.53M | 157K | -630.37K | 19M | 13.2M | 290K | 2.35M | 1.82M | 840K | 3M | 1.94M | 1.05M | 1.72M | 1.05M | 0 | 16K | 20K |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | -630.37K | 0 | -171 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 1.86M | -329K | 645K | 185K | -499K | 2.87M | 8.36M | -1.18M | -242.03K | -75.88K | -71.2K | -34.67K | -121.34K | -154.82K | -89K | -294.51K | 59.23K | 0 | 0 | 0 |
| Net Change in Cash | -531K | -3.6M | -5.82M | 8.71M | -20.27M | -4.75M | 22.85M | 3.61M | -159.45K | 394.91K | -23.88K | -1.35M | 988.46K | 134.7K | -211.38K | 404.7K | 40.87K | -5.27K | -254.67K | 12.09K |
| Free Cash Flow | -11.41M | -10.9M | -3.02M | -14.36M | -18.99M | -6.99M | -4.5M | -4.94M | -795K | -3.46M | -1.95M | -2.73M | -1.89M | -1.63M | -1.17M | -1.98M | -1.13M | -5.27K | -3.15M | -7.91K |
| FCF Margin % | -45.58% | -38.6% | -6.12% | -21.33% | -86.32% | -77.65% | -72.41% | -96.56% | -12.9% | -245.3% | -70.18% | -103.43% | -183.2% | -581.33% | -162.42% | -86.13% | -324.65% | - | -130.28% | - |
| FCF Growth % | -563.1% | -260.81% | 78.97% | 24.34% | -171.62% | -55.44% | 8.89% | -520.87% | 77.05% | -77.45% | 28.58% | -44.35% | -15.89% | -39.34% | 40.9% | -75.87% | -21291.88% | 99.83% | -39716.07% | - |
| FCF per Share | -0.56 | -0.65 | -0.21 | -1.16 | -1.92 | -0.79 | -0.73 | -1.11 | -0.27 | -1.36 | -0.87 | -1.36 | -1.11 | -1.17 | -1.06 | -2.09 | -1.45 | -0.01 | -5.52 | -0.03 |
| FCF Conversion (FCF/Net Income) | 0.62x | 0.39x | 0.19x | 0.83x | 0.92x | 0.97x | 0.79x | 1.23x | 0.20x | 1.13x | 0.68x | 1.34x | 0.58x | 0.57x | 0.47x | 0.77x | 0.47x | 0.36x | 0.30x | 0.58x |
| Interest Paid | 7K | 0 | 0 | 12K | 0 | 85 | 54.57K | 364.1K | 0 | 73.41K | 45.13K | 151.62K | 0 | 0 | 12.27K | 15.69K | 0 | 0 | 0 | 0 |
| Taxes Paid | 10K | 0 | 0 | 12K | 0 | 1K | 4.94K | 3.1K | 0 | 800 | 1.6K | 1.6K | 1.6K | 1.6K | 1.75K | 13.16K | 1.33K | 3.22K | 0 | 0 |
Critical Liquidity and Burn
As reported in recent financial statements, Beam Global's operating cash flow frequently diverges from net income, with the 2026Q1 OCF/NI ratio of 0.33 suggesting that accounting losses are not being fully mitigated by non-cash charges, indicating a persistent disconnect between reported profitability and actual cash generation.
The recurring gap between net income and operating cash flow suggests that the company's earnings quality is heavily influenced by non-cash items and working capital fluctuations. Investors should monitor this divergence closely, as it implies that the company's ability to fund operations internally remains severely constrained.
Based on the provided cash flow data, Beam Global has struggled to maintain positive free cash flow, with the 2026Q1 FCF margin of -74.0% highlighting the company's inability to cover its operational and capital requirements through its current, volatile revenue streams.
The trajectory of free cash flow appears to be deteriorating, reflecting the high cost of maintaining a manufacturing-heavy business model without sufficient scale. This trend suggests that the company may continue to rely on external financing to bridge the gap between its cash outflows and its limited operational inflows.
According to historical cash flow filings, working capital changes have been a primary driver of quarterly cash fluctuations, with a $1.1 million inflow in 2026Q1 partially offsetting the $2.3 million operating cash burn, illustrating the company's reliance on timing-sensitive collections to manage its immediate liquidity needs.
The reliance on working capital swings to manage cash flow suggests that the company's underlying operational cash generation is insufficient to support its current cost structure. This volatility warrants further investigation into the sustainability of these collection cycles, especially given the lumpy nature of government-contracted revenue.
As indicated in the quarterly cash flow statements, stock-based compensation remains a significant non-cash expense, with $516,000 recorded in 2026Q1, which effectively masks the true economic cost of operations and dilutes existing shareholders while failing to provide the cash necessary to sustain the business.
The consistent use of stock-based compensation appears to be a mechanism to preserve cash, yet it does not address the fundamental issue of negative operating margins. Analysts should consider the impact of this dilution on future earnings per share, as the company continues to trade equity for operational survival.
Quick answers to the most common questions about buying BEEM stock.
Beam Global (BEEM) generated $-10.5M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Beam Global (BEEM) reported negative free cash flow of $10.9M in 2025, indicating capital requirements exceeded cash from operations.
Beam Global (BEEM) spent $0.4M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.