SAN DIEGO (AP) — SAN DIEGO (AP) — Beam Global (BEEM) on Monday reported a loss of $3.8 million in its first quarter.

On a per-share basis, the San Diego-based company said it had a loss of 38 cents.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 42 cents per share.

The company posted revenue of $13 million in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $7.9 million.

Beam Global shares have dropped 43% since the beginning of the year. In the final minutes of trading on Monday, shares hit $9.97, a decline of 35% in the last 12 months.

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