Beam Global announced a new partnership with Sourcewell, a cooperative purchasing program that aggregates the buying power of more than 50,000 public agencies. The award, in the Electric Vehicle Supply Equipment with Related Services category, gives Beam a ready‑to‑use, pre‑negotiated agreement that will allow the company to sell its charging infrastructure and related services to U.S. military, state and local government agencies, and higher‑education institutions across North America.
Sourcewell’s model reduces the time and complexity of sales to public‑sector customers by providing a single, vetted contract that covers pricing, delivery, and compliance. For Beam, the contract is a strategic lever that can accelerate sales cycles and lower administrative costs, especially in a market where government procurement cycles can span months or years.
Beam’s Q2 2025 financial results provide context for the significance of the contract. Revenue fell 52% year‑over‑year to $7.1 million, but the company’s gross margin improved to 20% GAAP (30% adjusted non‑GAAP) and operating expenses were cut 17%. Net loss narrowed to $4.3 million from $4.9 million a year earlier, reflecting disciplined cost management and a shift toward higher‑margin commercial and international customers. Commercial revenue now accounts for 60% of the first‑half 2025 total, up from 24% in the same period of 2024, while international revenue grew to 37% from 15% a year earlier.
The Sourcewell contract fits directly into Beam’s diversification strategy. By gaining access to a broad public‑sector customer base, Beam can reduce its concentration risk and tap into a market that is increasingly investing in electric‑vehicle charging infrastructure. The company’s recent energy‑storage solutions business also saw 21% year‑to‑date growth, and a $2.5 million defense contract for ESS demonstrates its ability to win large, repeatable public‑sector deals. Together, these developments suggest that the Sourcewell win could translate into incremental revenue and a more balanced customer mix.
CEO Desmond Wheatley described the contract as an “easy button” for governments, emphasizing Beam’s focus on secure, sustainable electricity and EV charging. Investors reacted positively to the announcement, with analysts noting the contract’s potential to accelerate revenue growth and improve margin stability. The company’s debt‑free balance sheet and $100 million unused line of credit provide financial flexibility to pursue additional public‑sector opportunities.
In summary, Beam’s Sourcewell award represents a meaningful step toward a more diversified revenue base and a stronger foothold in the public‑sector EV charging market. The contract’s streamlined procurement process, combined with Beam’s improving margins and expanding commercial and international presence, positions the company to capture a larger share of the growing electric‑vehicle infrastructure market while mitigating concentration risk.
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