Beam Global (NASDAQ:BEEM) Q3 2023 Earnings Call Transcript

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Chris Pierce: Just look or looping on EV standard you just touched on. How quickly could you be manufacturing and selling those products out of Serbia. And what’s the ASP on that product versus the typical product that undergo customers buy at this point in time?

Desmond Wheatley : Good question. And as I said in my prepared remarks, we have made more progress on EV standard development in the last month than we had in the last 4 years. So we’re going to have the standup beta version of it very soon. I’m not going to put an exact date on it because that’s a great way to always get into trouble, but very soon. We’re making tremendous progress on it right now. Remember the Beam Europe makes these types of structures all day long. Everything from the tiniest ornate [ph] things that you might see in the small village all the way up to the massive towers that you see going down the center of a freeway. So they do everything and everything in between. — and they’re very well equipped to do this.

So it’s coming very quickly. ASP, I’m not going to comment on that at all, but I will tell you this, the other great thing about Beam Europe is they have a fantastic database of what people pay for these things all across Europe. They’ve sold them – if you’ve been in Miami, you walked underneath Omega street lamps, by the way. So they’re not just sold in Europe but also in North America. So they have a very good idea of what the market will bear. And we’re also working on some really other interesting things in terms of how we might end up financing these things into the market as is part of the reason I met with OCI again yesterday because there are lots of other opportunities to expand that business and integrate EV standard in with normal lamp sales as part of the mix in a way, which will be a great differentiator for us because Amiga was already one of the largest EV or one of the largest street light lamp standard producers in Europe.

They know a great deal about the competition, and we do as well. And I can tell you that if we start introducing these renewably energized EV chartering products and some of the other things that we’re going to bring to market, we will be alone in the market and our ability to do that amongst all the competition. So that’s another just really fantastic area of opportunity for us.

Chris Pierce: Okay. Thank you.

Operator: This concludes our question…

Desmond Wheatley : With that Yes, I think we’ve got to bring it to a close operator. Thank you.

Operator: This concludes our question-and-answer session. I would now like to turn the conference over to Desmond Wheatley for any closing remarks.

Desmond Wheatley: I’m claimed to sound as Dell and board as I can, because I feel as though my enthusiasm, perhaps is starting to wear on people. But I’m not going to – I’m sorry, there are things all change for you, but I’m not going to change that. I love the company. I love what we’re doing. I am more excited than ever. Why wouldn’t I be? As I said in my comments, I don’t think we’ve doubled our opportunity. I think we’ve trebled or maybe quadruple it here, and we’ve done it very inexpensively in a very wise manner. Again, no debt, high interest rate environment and very, very low dilution to get this done. So a great time to be doing what we’re doing. I very much appreciate your support and your interest. Obviously, the macro market conditions, share prices for growth stocks something that maybe it’s beyond my pay grade.

I’m going to keep doing what I do. And the Beam team is going to continue to do what it does, which is get better and better and offer more and more growth because at the end of the day, fundamentals are going to win out, and we’re going to produce them. So thank you. Thank you, everybody, for your time, and I look forward to speaking to you all again in the near future.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.+

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