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Katherine McDermott | executive |
Desmond Wheatley | executive |
Gregory Lewis | analyst |
Tate Sullivan | analyst |
Good afternoon, and welcome to the Beam Global First Quarter 2022 Financial Results and Corporate Update Conference Call. [Operator Instructions] Please note this event is being recorded.I would now like to turn the conference over to Kathy McDermott, Chief Financial Officer. Please go ahead.
Thank you. Good afternoon, and thank you for participating in Beam Global's conference call for the first quarter of 2022. today us time this your appreciate for for joining call. We
activities operational CEO is that an for of recent communicate by to Desmond call, like me statements during will first, and results. question-and-answer update Beam performance session.But a future Wheatley, the you providing Joining including to be be expectations President, Chairman making address I'd statements, followed Beam's will Beam. on or this that at management Desmond forward-looking
other factors differ and may cause statements. Forward-looking to risks statements that actual results materially involve those from
included is events the disclaims about call.Next factors filed we're May today, For an on addition storage risks, that any periodic SEC.The time-sensitive Beam our ended was of date more is prior XX, information partnership any for energy million, increase say XXXX Except Because March lower many accurate these XXXX. It quarter the and XX, with of XXXX, in highest $X.X that is or reported year through purchase this closing circumstances million product Beam's first revenues great the storage quarter XX-K in the XXXX, include synergies please reports history, XXXX. revenues. sales of required occur obligation $X.X a first EV the recently storage to a March provide not only company an which first refer was the that most XXXX. The as for this of by standpoint. energy to comparison.For revenue with publicly law, the charging contains the content risk quarter asset of first Beam's filed to to first to and or the quarter as million other we of described in quarter AllCell call The like statements Form March the company's is quarter reported XXXX, XX, this includes of reflect a In after the solutions manufacturing overview results the XXX% of Technologies. to would for purchase, March update information excited X for the energy financial in that revise our over closed of I financial information business. business quarter $X.X from typically the
state and our agencies Our primary total continue of to be XX% sales market to municipalities revenues. at
We partially supply business growth improved based by back costs March to chain to in the $X.X and production also and in volume components by sales loss $X.X XXXX. increased increased loss addition due growth quarter for increases segment marketing share revenue support partially and absorption increased AllCell. for $XX.X shortages charging. enterprise million The were for resources the Gross utilization. the office on million XXXX, purchase million The $X for for period or The prior pressures.Operating we accounting XX, in our $X.XX offset labor investment for due and per savings of in employees XX, services March, for to XXXX. was the as other other in first of loss of net due efficiencies same to compared customers primarily result a had gross QX million expenses consultants the XXXX are the inflationary also $X.XX share investment increased were resulting of million expenses percentage decrease and improved were legal sales and $X.X XXXX. favorable as capital per AllCell compared primarily and overhead These at to in acquisition.The of saw of XXXX compared and to EV XXXX, compared $XX.X higher to payment cash the points for the XXXX. million ended looking cash $X.X December cash federal also was year working At compared the first from the in X space.We and quarter operating steel million the revenues in the material QX XX, activities and to or the to for quarter heading $X.X increased fixed March to our was million federal to
to million business million turn the at now March $XX.X at update. working XXXX.I call to capital Our December the over XXXX, will provide XX, $XX.X decreased Desmond from XX, to
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XXXX $X.X last XXXX XXX% So record first as of was Beam; advance it's records record of XXXX a push what But of product of and here. quarter deliveries streak deliveries continuing quarterly period I'll for control year do.XXXX in I million, my breaking in revenues and up as from million of We're last noise they year. were challenges were outside me for with Product apologies easy my revenues, for in the same QX $X.X come a quarter for million the record the we head record into in like fourth $X.X way, sales. any environment the of always not new year. to record of whatever that through up in from
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from is question first Greg Our Lewis Instructions] BTIG. with [Operator
potential But is a doing government/military you're the good execution. question. for did huge the a a company. I on opportunity Clearly, opportunity job Clearly growth have
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Yes.
usually do, So you've as uncovered areas, you multiple Greg.
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question next a McCullagh private ], James [ is from investor. The
questions. Two
survivability, Obviously survivability panels First there improve too whether if to it on the going a if kind any there's dismantling And probably differentiator on of for on, an was Australia, one solar event? That's way investment? anything any early But it If weather the is or Asia to cost well and there the your any just weather penetrate the market or first whether is, markets? there's be capital discussion systems international a to greenfield on adverse of could question. as in then done is that is And issue. that's it's second going in adverse events? construction survivability Europe as R&D so, be improve opportunities. the or key on Southeast JV the question effort, concerted that
Yes.
excellent those So questions. are both
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was was fairly heavy with which -- costs, I'm what equipment based contracted Hawaii on significant of think And year ago quarter calls, understand, dealing -- when on it freight included of was obviously it the, one from dealing charge I to remember shipment by in I -- you're was freight the with impacted a conference guessing. price, your think, it a on a State it's just a pretty I I one and freight. some you're
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Desmond conference [Operator Instructions] Showing to back I the like turn for question-and-answer our session. over no further questions, this remarks. Wheatley concludes to would any closing
us, a it lot here new our today. of year. think I a we've quarter got earlier, following of breaking a and had is and and would for just I electric record-breaking make of do. and the is EV it living. future very the like without but that's It's I'm record-breaking out.As just a pipeline a to job we're producing of covered for I'm record for getting fantastic the We've doing doing doing be easy, for products thrilled combinations, here what charging vehicles, to Ops positioning everybody we stuff what doing never everything team If it, challenges, well was We backlog it's requirement be battery company infrastructure said -- right?
listening for a thank time you. Beam the said, be Beam. Like opportunity. on all I today with Thank for great you it's Thank being all and involved team. that to So for you
today's you presentation. has The conference concluded. Thank for attending now
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