Core Viewpoint - Blink Charging Co. has received a notification from Nasdaq regarding non-compliance with listing rules due to the failure to file its Form 10-K for the year ended December 31, 2024 [1][2]. Group 1: Compliance and Regulatory Actions - The company must submit a plan to regain compliance with Nasdaq within 60 calendar days from the date of the notification letter [2]. - If the plan is accepted, Nasdaq may grant an extension of up to 180 calendar days, allowing the company until September 29, 2025, to file the Form 10-K [2]. - The company is actively working to complete and file the Form 10-K as soon as possible to regain compliance [3]. Group 2: Company Overview - Blink Charging Co. is a leading global provider of electric vehicle (EV) charging equipment and services, facilitating the transition to electric transportation [4]. - The company's main products and services include the Blink EV charging network, EV charging equipment, and related services, utilizing proprietary cloud-based software for operation and maintenance [4]. - Blink has established strategic collaborations for the deployment of charging solutions across various locations, including parking facilities, residential areas, workplaces, healthcare facilities, and more [4].

Company Performance - Blink Charging's stock closed at $0.99, reflecting a -0.98% change from the previous day, underperforming the S&P 500 which gained 0.08% [1] - Over the past month, Blink Charging shares have decreased by 5.66%, while the Computer and Technology sector and the S&P 500 have lost 12.04% and 7.33% respectively [1] Upcoming Earnings - The company is expected to report an EPS of -$0.15, indicating a 15.38% decline compared to the same quarter last year [2] - Quarterly revenue is forecasted at $33.24 million, down 11.54% from the previous year [2] Full Year Estimates - For the full year, analysts predict earnings of -$0.49 per share and revenue of $141.83 million, representing increases of +19.67% and +12.39% respectively from last year [3] Analyst Estimates - Recent changes in analyst estimates for Blink Charging are crucial as they reflect short-term business trends [4] - Positive revisions in estimates indicate analyst optimism regarding the company's business and profitability [4] Zacks Rank - The Zacks Rank system, which ranges from 1 (Strong Buy) to 5 (Strong Sell), currently rates Blink Charging at 2 (Buy) [6] - Over the past month, there has been a 1.35% increase in the Zacks Consensus EPS estimate for the company [6] Industry Context - Blink Charging operates within the Electronics - Miscellaneous Services industry, which is part of the Computer and Technology sector [7] - This industry has a Zacks Industry Rank of 17, placing it in the top 7% of over 250 industries, indicating strong performance potential [7]

Core Insights - Blink Charging Co. has entered an agreement to supply 50 chargers at premium hotels, retail, and restaurant locations in Mexico as part of the Porsche Destination Charging Program [1][3]. Company Overview - Blink Charging is a leading global provider of electric vehicle (EV) charging equipment and services, focusing on innovative solutions to facilitate the transition to electric transportation [6]. - The company operates a cloud-based network that manages and tracks EV charging stations and associated data [6]. Partnership Details - The Porsche Destination Charging network offers convenient charging options for Porsche EV drivers at exclusive locations, providing free charging sessions and discounts at Blink Charging locations [2]. - Participating locations will benefit from a percentage of the charging revenue generated from the stations [2]. Expansion Plans - This initiative marks a significant step in Blink's expansion into Mexico, where the company will manage the entire lifecycle of the charging stations, including installation, maintenance, and repair [3][5]. - The new charging stations are set to be operational starting March 2025 [5]. Technology and User Experience - Blink's IQ200 chargers provide efficient charging capabilities of up to 19.2 kW, enhancing the user experience through advanced technology [4]. - The Blink Network's software allows users to manage their charging sessions seamlessly [4]. Industry Impact - The collaboration with Porsche aims to enhance the public charging network in Mexico, promoting the transition to electromobility and supporting sustainability initiatives in hospitality and retail sectors [4][5].

Bowie, MD, March 14, 2025 (GLOBE NEWSWIRE) -- Blink Charging Co. (NASDAQ:BLNK), a leading global owner, operator, provider, and manufacturer of electric vehicle (EV) charging equipment and services, today announced that Mike Battaglia, President and CEO, will present at the 37th Annual Roth Conference, being held in Dana Point, California, at 9:00 am PT / 12:00 noon ET on Monday, March 17, 2025. Interested investors may access the virtual presentation here. About Blink Charging Blink Charging Co. (NASDAQ:B ...

Core Insights - Blink Charging reported a revenue of $30.18 million for the quarter ended December 2024, which is a decrease of 29.3% compared to the same period last year [1] - The company's EPS was -$0.15, an improvement from -$0.28 in the year-ago quarter, indicating a positive trend in earnings despite the revenue decline [1] - The reported revenue fell short of the Zacks Consensus Estimate of $32.41 million by 6.87%, while the EPS exceeded the consensus estimate of -$0.18 by 16.67% [1] Revenue Breakdown - Product sales revenue was $17.17 million, significantly below the three-analyst average estimate of $21.57 million, reflecting a year-over-year decline of 48.6% [4] - Charging service revenue from company-owned charging stations reached $6.23 million, surpassing the average estimate of $5.14 million, and showed a year-over-year increase of 37.3% [4] - Grant and rebate revenue was $0.09 million, below the average estimate of $0.17 million, marking a year-over-year decrease of 53% [4] - Network fees generated $2.41 million, slightly below the average estimate of $2.52 million, with a year-over-year increase of 9% [4] - Car-sharing services revenue was $1.20 million, compared to the average estimate of $1.34 million, reflecting a modest year-over-year increase of 0.8% [4] - Other revenues amounted to $0.36 million, exceeding the average estimate of $0.19 million, with a substantial year-over-year increase of 220.5% [4] - Warranty revenue was reported at $2.73 million, significantly above the average estimate of $0.82 million, indicating a year-over-year increase of 149.2% [4] Stock Performance - Over the past month, shares of Blink Charging have returned -8.7%, compared to a -7.4% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]

Group 1 - Blink Charging reported a quarterly loss of $0.15 per share, better than the Zacks Consensus Estimate of a loss of $0.18, and an improvement from a loss of $0.28 per share a year ago, resulting in an earnings surprise of 16.67% [1] - The company posted revenues of $30.18 million for the quarter ended December 2024, missing the Zacks Consensus Estimate by 6.87%, and down from $42.71 million in the same quarter last year [2] - Blink Charging shares have declined approximately 29.7% year-to-date, contrasting with the S&P 500's decline of 4.8% [3] Group 2 - The earnings outlook for Blink Charging is mixed, with the current consensus EPS estimate at -$0.15 on revenues of $38.8 million for the upcoming quarter, and -$0.55 on revenues of $154 million for the current fiscal year [7] - The Zacks Industry Rank places Electronics - Miscellaneous Services in the top 35% of over 250 Zacks industries, indicating that the industry outlook can significantly impact stock performance [8]

Financial Data and Key Metrics Changes - The consolidated revenue for Q4 2024 was $30 million, a sequential increase of 20% compared to Q3 2024 [10] - Full-year 2024 total revenues were $126 million, down from $140.6 million in 2023 [30] - Service revenues for Q4 2024 grew 24% year-over-year to $9.8 million, while full-year service revenues reached $34.8 million, representing a 31.8% increase [31] - Gross margin for the full year was 32%, with an adjusted gross margin of over 35% for Q4 2024 when excluding asset adjustments [32][34] - Operating expenses decreased by 21% to $23.1 million in Q4 2024 compared to Q4 2023, and full-year operating expenses were reduced by 24% to $111 million [33] Business Line Data and Key Metrics Changes - The number of company-owned chargers increased by 33% to 6,867 by the end of 2024, contributing to a 32% increase in service revenue [18] - Revenue from DC fast chargers grew nearly 500% in 2024 compared to 2023, highlighting a strategic focus on this segment [20] Market Data and Key Metrics Changes - New electric vehicle sales in January 2025 were up nearly 30% compared to January 2024, marking the tenth consecutive month of over 100,000 EVs sold in the U.S. [14] - Used EV sales also grew by nearly 31% year-over-year in January 2025, indicating strong demand for charging services [16] - In the UK, nearly 20% of vehicles sold in 2024 were electric, and Belgium saw a 36% increase in EV registrations [23] Company Strategy and Development Direction - The company is focused on becoming a leading global EV infrastructure provider, emphasizing the growth of Blink-owned chargers and service revenues [9][38] - The "Blink Forward" strategy aims to enhance profitability through cost reduction, flexible customer-centric business models, and capitalizing on market consolidation opportunities [39][44] - The company is actively pursuing non-dilutive capital sources to support its growth strategy [110] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the continued growth of service revenues throughout 2025, with expectations for product revenue to improve in the second half of 2025 [36] - The company is monitoring political developments and market conditions regarding tariffs but does not expect significant impacts on gross margins [17] - Management acknowledged the challenges of the current industry landscape but emphasized the company's resilience and commitment to achieving profitability [46] Other Important Information - The company reduced cash burn by 51% in 2024, with operating cash burn decreasing from $18 million per quarter at the end of 2023 to $9 million per quarter at the end of 2024 [28] - The company ended 2024 with cash liquidity of $55 million, including liquid marketable securities and no cash debt [35] Q&A Session Summary Question: 2025 outlook on product sales visibility - Management indicated optimism for product sales in the second half of 2025, with a focus on balancing owner-operator and product sales strategies [49][52] Question: Acquisition targets in Europe and South America - Management confirmed they are considering acquisition opportunities but emphasized the need for careful selection to avoid overpaying [55] Question: Timeline for Envoy IPO - Management stated they are on track for an IPO in the spring [58] Question: Shifting focus towards owner-operator model - Management clarified that the shift is a long-term strategy rather than a reaction to short-term market dynamics [64] Question: Expected margins as the owner-operator model grows - Management did not provide specific guidance on margins but indicated that the owner-operator model could lead to improved margins [68] Question: Utilization improvements from new connectors - Management noted that the deployment of new connectors is still in early stages, with expected future benefits [74] Question: Path to positive EBITDA - Management emphasized the need for aggressive top-line growth and further cost reductions to achieve positive EBITDA [80] Question: Business mix and state support for growth - Management expressed optimism about state contracts and opportunities in Europe, indicating a diversified approach to growth [91] Question: Working capital management opportunities - Management confirmed ongoing efforts to improve working capital management and cash flow [95]

Financial Data and Key Metrics Changes - The consolidated revenue for Q4 2024 was $30 million, a sequential increase of 20% compared to Q3 2024 [7] - Full year total revenues were $126 million, down from $140.6 million in 2023 [21] - Service revenues for Q4 2024 grew 24% year over year to $9.8 million, while full year service revenues reached $34.8 million, representing a year over year growth of 31.8% [19][21] - Gross margin for the full year was 32%, with an adjusted gross margin of over 35% for Q4 2024 when excluding asset adjustments [19][20] - Loss per share for Q4 was $0.73, improving from $0.28 in the prior year [20][21] Business Line Data and Key Metrics Changes - Service revenue for the year was driven by increased utilization and a greater number of Blink-owned chargers, which increased by 33% to 6,867 units [11][12] - Revenue from DC fast chargers grew nearly 500% in 2024 compared to 2023 [12] - Charging revenue for the year reached $21.4 million, a 37% increase [11] Market Data and Key Metrics Changes - New electric vehicle sales in January 2025 were up nearly 30% compared to January 2024, marking the tenth consecutive month of over 100,000 EVs sold in the U.S. [9] - Used EV sales grew by nearly 31% year over year in January 2025, contributing to increased demand for charging services [10] - In the UK, nearly 20% of vehicles sold in 2024 were electric, with a 57% increase in used electric vehicle sales [14] Company Strategy and Development Direction - The company is focused on becoming a leading global EV infrastructure provider, emphasizing the growth of Blink-owned DC fast chargers [6][23] - The strategic plan, "Blink Forward," aims to reduce operating expenses and cash burn while promoting profitability [23][26] - The company is exploring market consolidation opportunities to enhance growth and market share [26] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the continued growth of service revenues throughout 2025, with expectations for product revenue to improve in the second half of 2025 [21][22] - The company is actively pursuing non-dilutive capital sources to support its growth strategy [76] - Management acknowledged the challenges in the current market but emphasized the company's resilience and commitment to achieving profitability [27] Other Important Information - The company reduced cash burn by 51% in 2024, with operating expenses down 24% year over year [17][20] - The company ended 2024 with cash liquidity of $55 million and no cash debt [21] Q&A Session Summary Question: What is the outlook for product sales visibility in 2025? - Management expects some shortfall in product sales in the first half of 2025 but is optimistic about the second half due to new sales strategies [28][31] Question: Are there acquisition targets in Europe or South America? - Management confirmed that there are companies under consideration for acquisition, focusing on the right fit and avoiding overpayment [32][33] Question: What is the timeline for the Envoy IPO? - The company is on track for an IPO in the spring, with administrative processes proceeding as planned [34] Question: How will margins be affected as the company shifts towards owner-operator models? - Management indicated that margins are expected to remain stable, with potential for improvement on the owner-operator side [42][56] Question: How is the company addressing regulatory changes and tariffs? - The company has production facilities in the U.S. and India, which helps mitigate the impact of tariffs [78] Question: What progress has been made in alternative customer channels? - Significant progress has been made with electrical distributors and local municipalities, which are seen as key growth areas [70][71] Question: How is the company positioned in the residential EV charging market? - The company focuses on commercial and multifamily markets, capitalizing on building codes that require EV charging infrastructure [87] Question: What measures are being taken to improve working capital management? - The company is implementing measures to improve cash flow from accounts receivable and inventory management [63][64]

2 3 3 * - All comparisons are Q4 -2024 year -over -year, unless otherwise noted 4 4 Total Revenue 31.8% Service Revenue 16.5% Network Fees 372 bps Gross Margin 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 36,337 51,073 58,907 66,478 72,941 78,769 84,725 89,825 94,476 98,261 105,239 24% 76% North America International 109,596 Increasing charger utilization and global footprint expansion leads to incremental revenue growth *Cumulative number since company inception Total Charging Stations Contr ...

Revenue Performance - Fourth quarter 2024 total revenues were $30.2 million, a decrease of 29.3% compared to $42.7 million in the fourth quarter of 2023[11] - Full year 2024 total revenues were $126.2 million, down 10.2% from $140.6 million in 2023[11] - Product revenues in Q4 2024 were $17.2 million, a decline of 48.6% year-over-year, while full year product revenues were $81.7 million, down 25.3% from 2023[12] - Service revenues increased 24% to $9.8 million in Q4 2024, contributing 33% of total revenue, compared to 19% in Q4 2023[8] - Total revenues for Q4 2024 were $30,180 million, a decrease of 29.4% compared to $42,711 million in Q4 2023[33] Operating Expenses - Operating expenses in Q4 2024 were $81.1 million, including $58.0 million in non-cash charges; excluding these, operating expenses decreased 21% to $23.1 million[18] - Operating expenses surged to $81,120 million in Q4 2024, compared to $29,461 million in Q4 2023, reflecting a significant increase of 175.5%[33] Profitability and Loss - Net loss for Q4 2024 was $(73.5) million, or $(0.73) per share, compared to a net loss of $(19.7) million, or $(0.28) per share in Q4 2023[20] - Adjusted EBITDA for Q4 2024 was a loss of $(10.6) million, an improvement from a loss of $(13.9) million in Q4 2023[22] - Net loss for Q4 2024 was $73,511 million, compared to a net loss of $19,689 million in Q4 2023, marking an increase in losses of 273.5%[33] - Adjusted EBITDA for the year ended December 31, 2024, was $(49,459) million, an improvement from $(56,955) million in 2023[35] - The company reported a diluted net loss per share of $(0.73) for Q4 2024, compared to $(0.28) for Q4 2023[35] Gross Margin - Gross margin for Q4 2024 was 25%, with a full year gross margin of 32%[8] - Gross profit for the year ended December 31, 2024, was $40,781 million, slightly up from $40,206 million in 2023, indicating a marginal increase of 1.4%[33] Impairment and Goodwill - Impairment of goodwill for the year was $126,984 million, up from $89,087 million in 2023, indicating a rise of 42.5%[33] Cash and Liquidity - Cash liquidity as of December 31, 2024, was $55 million, with no cash debt[27] Future Outlook - The company expects service revenue to continue increasing throughout 2025, with product revenue in H1 2025 anticipated to be similar to H2 2024[9] - Blink Charging is focused on achieving its 2024 revenue and gross margin targets, with specific emphasis on projected adjusted EBITDA run rate and timeline[41] - The company acknowledges risks and uncertainties associated with forward-looking statements, which may impact actual performance compared to expectations[41] Charging Services - Charging service revenue from company-owned charging stations increased to $6,228 million in Q4 2024 from $4,535 million in Q4 2023, a growth of 37.4%[33] - The company is focused on expanding its EV charging networks and has established strategic partnerships to enhance adoption across various locations[39]