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For more information, contact: Be Incorporated Guillaume Perrotin, 650/462-4100 investors@be.com Be Incorporated Reports Second Quarter Results MENLO PARK, Calif. -- July 25, 2001 -- Be Incorporated (Nasdaq:BEOS) today reported financial results for the quarter ended June 30, 2001. Net revenues for the second quarter of 2001 were $715,000. Revenues were primarily attributable to integration services performed for customers. The Company reported a net loss for the quarter of $0.10 per share excluding restructuring charges and non-cash expenses associated with the amortization of deferred compensation. The Company had previously reported a comparable net loss of $0.14 per share for the first quarter and a net loss of $0.13 per share for the second quarter of last year. Including non-cash expenses associated with the amortization of deferred compensation, net loss per share for the second quarter this year was $0.11 per share. During the quarter, the Company completed the restructuring announced at the beginning of the quarter and recorded a related restructuring charge of $143,000 this quarter in addition to the $307,000 recorded in the first quarter. About BeIA: The Complete IA Solution BeIA comprises the Client Platform, Integration Services and the BeIA Management and Administration Platform. This integrated package of small footprint client-side software; development, customization and device management tools and services; and key third-party services and technology, delivers a complete Internet appliance solution to device and service providers, including consumer electronics companies. About Be Incorporated Founded in 1990, Be Inc. creates software solutions that enable rich media and Web experiences on personal computers and Internet appliances. Be's headquarters are in Menlo Park, California. It is publicly traded on the Nasdaq National Market under the symbol BEOS. Be can be found on the Web at http://www.be.com/. Forward-Looking Statements Statements contained in this Press Release that are not historical facts are ``forward-looking statements'' including without limitation statements regarding the future operating results of Be Incorporated. Actual events or results may differ materially as a result of risks facing Be Incorporated or actual results differing from the assumptions underlying such statements. All forward-looking statements are expressly qualified in their entirety by the ``Risk Factors'' and other cautionary statements included in Be Incorporated's Annual Report on Form 10-K for the year ended December 31, 2000, and other public filings with the Securities and Exchange Commission. BE INCORPORATED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share amounts) Three Months Ended Six Months Ended June 30, June 30, 2001 2000 2001 2000 Net revenues $ 715 $ 142 $ 815 $ 396 Cost of revenues 320 261 571 554 ------- ------- ------- ------- Gross profit (loss) 395 (119) 244 (158) Operating expenses: Research and development 2,276 1,843 4,655 3,991 Sales and marketing 557 1,883 2,111 3,974 General and administrative 1,370 939 2,380 1,969 Restructuring charge 143 - 450 - Amortization of deferred stock compensation 29 657 331 1,690 ------- ------- ------- ------- Total operating expenses 4,375 5,322 9,927 11,624 ------- ------- ------- ------- Loss from operations (3,980) (5,441) (9,683) (11,782) Other income, net 84 322 230 663 ------- ------- ------- ------- Net Loss $(3,896) $(5,119) $(9,453) $(11,119) ======== ======= ======= ======= Basic and diluted net loss per share $ (0.11) (0.14) $ (0.26) $ (0.32) ======== ======= ======= ======= Shares used to compute basic and diluted net loss per share 36,466 35,496 36,330 35,247 ======== ======= ======= ======= Net loss per share excluding restructuring charge and amortization of deferred compensation $ (0.10) $ (0.13) $ (0.24) $ (0.27) ======== ======= ======= ======= BE INCORPORATED CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands) June 30, December 31, ASSETS 2001 2000 ------------- ------------- Current assets: Cash, cash equivalents and short term investments $ 4,902 $ 14,057 Accounts receivable, net 276 26 Prepaid expenses and other 356 549 ------------- ------------- Total current assets 5,534 14,632 Property and equipment, net 311 391 Other assets 713 1,048 ------------- ------------- Total Assets $ 6,558 $ 16,071 ============= ============= LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable $ 25 $ 362 Accrued expenses 1,085 1,502 Technology license obligations 425 454 Deferred revenue 64 109 ------------- ------------ Total current liabilities 1,599 2,427 Technology license obligations 238 320 Total stockholders' equity 4,721 13,324 ------------- ------------ Total Liabilities and Stockholders' Equity $ 6,558 $ 16,071 ============= =============

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