Beam Global Announces Preliminary Third Quarter 2026 Revenue Growth of 8% Year Over Year, Advancing Strong Core Business and Strategic Expansion into Drone Technology

SAN DIEGO, Oct. 13, 2026 (GLOBE NEWSWIRE) -- Beam Global (Nasdaq: BEEM), a leading provider of innovative and sustainable infrastructure solutions for energy storage and security, electrification of mobility, and smart city infrastructure, today announced preliminary, unaudited revenue of approximately $6.2 million for the third quarter ended September 30, 2026 an increase of 8% compared to $5.8 million for the third quarter of 2025. The preliminary results reflect the continued performance of Beam Global’s core business, providing a strong foundation as the Company prepares to expand into the rapidly growing drone technology market through its pending acquisition of ScoutDI.

These figures are preliminary and unaudited. They are estimates based on information available as of the date of this release and remain subject to change in connection with the completion of the Company's quarter-end closing procedures and the review of its financial statements.

“Our third quarter results demonstrate the strength of our core business and the progress we continue to make across our markets,” said Desmond Wheatley, CEO of Beam Global. “The acquisition of ScoutDI represents a significant opportunity to build on our existing capabilities, bringing together our established customer base, engineering expertise, manufacturing capabilities and global footprint with ScoutDI’s advanced drone technology. This positions Beam Global to develop a vertically integrated drone business serving commercial, government and defense markets.”

On October 7, 2026, Beam Global announced that it had signed a definitive agreement to acquire ScoutDI, a Norwegian developer of drone systems and AI-enhanced software for industrial inspection in confined and hard-to-reach spaces, for approximately $24 million in cash and Beam Global common stock. The transaction is expected to close in November 2026, subject to customary closing conditions. Following the acquisition, Beam Global intends to manufacture ScoutDI’s drone systems at its U.S. and European facilities.

The Company expects to file its complete, unaudited financial results for the second quarter of 2026 in its Quarterly Report on Form 10-Q on or before November 16, 2026, in accordance with applicable SEC filing deadlines.

About Beam Global

Beam Global is a sustainable technology innovator that develops and manufactures infrastructure products and technologies. The Company operates at the nexus of innovative and reliable energy, transportation and smart city solutions with a focus on sustainable energy infrastructure, rapidly deployed and scalable EV charging solutions, safe energy storage, energy security and intelligent infrastructure. With operations in the U.S., Europe and the Middle East, Beam Global develops, patents, designs, engineers and manufactures unique and advanced technology solutions that power transportation, provide secure sources of electricity, enable smart city services, save time and money, and protect the environment. Beam Global is headquartered in San Diego, CA, with facilities in Yuma, AZ; Broadview, IL; Belgrade and Kraljevo, Serbia; and Abu Dhabi, UAE. Beam Global is listed on Nasdaq under the symbol BEEM. For more information visit BeamForAll.com, LinkedIn, YouTube, Instagram and X.

Forward-Looking Statements

This Beam Global Press Release may contain forward-looking statements. All statements in this Press Release other than statements of historical facts are forward-looking statements. Forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “project,” “predict,” “believe,” “expect,” “anticipate,” “target,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may,” or other words and similar expressions that convey the uncertainty of future events or results. These statements relate to future events or future results of operations. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, which may cause Beam Global’s actual results to be materially different from these forward-looking statements. Except to the extent required by law, Beam Global expressly disclaims any obligation to update any forward-looking statements.

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