Financial Performance - Blink Charging Co. reported total revenues of $30.2 million for Q4 2024, a decrease of 29.3% compared to $42.7 million in Q4 2023 [7][8] - For the full year 2024, total revenues were $126.2 million, down 10.2% from $140.6 million in 2023 [7][8] - Product revenues for Q4 2024 were $17.2 million, a decline of 48.6% from $33.4 million in Q4 2023, while full year product revenues were $81.7 million, down 25.3% from $109.4 million in 2023 [9][11] - Service revenues increased by 24% to $9.8 million in Q4 2024, and for the full year, service revenues rose 32% to $34.8 million [10][11] - Other revenues saw a significant increase of 128.1% in Q4 2024, totaling $3.2 million, and for the full year, other revenues increased by 103.4% to $9.7 million [11][12] Profitability and Expenses - Gross profit for Q4 2024 was $7.5 million, maintaining a gross margin of 25%, while full year gross profit was $40.8 million with a gross margin of 32% [13] - Operating expenses in Q4 2024 were $81.1 million, significantly higher than $29.5 million in Q4 2023, largely due to non-cash goodwill impairment charges [14] - Excluding non-cash charges, operating expenses decreased by 21% to $23.1 million in Q4 2024 [14] - For the full year, operating expenses were $240.7 million, slightly up from $239.8 million in 2023, but decreased by 24% to $110.8 million when excluding non-cash charges [15] Net Loss and Adjusted Metrics - The 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 [16] - For the full year 2024, the net loss was $(198.1) million, or $(1.96) per share, an improvement from a net loss of $(203.7) million, or $(3.21) per share in 2023 [17] - Adjusted EBITDA for Q4 2024 was a loss of $(10.6) million, an improvement from a loss of $(13.9) million in Q4 2023 [18] - Full year adjusted EBITDA was a loss of $(49.5) million, compared to a loss of $(56.9) million in 2023 [19] Business Outlook - The company expects service revenue to continue increasing throughout 2025, with product revenue in the first half of 2025 anticipated to be similar to the second half of 2024 [5] - Blink Charging aims to achieve profitability and expand its charging network globally, with improved visibility around its timeline to reach adjusted EBITDA profitability as the year progresses [6] Operational Highlights - Blink Charging contracted, deployed, or sold 4,357 charging stations in Q4 2024, totaling 19,771 chargers for the full year [8] - The company has launched strategic collaborations to enhance its charging infrastructure, including partnerships with ChargeHub and Power Design [26]

Financial Data and Key Metrics Changes - In Q4 2024, consolidated revenue was $30 million, a sequential increase of 20% compared to Q3 2024 [8] - Full year 2024 total revenues were $126 million, down from $140.6 million in 2023 [21] - Service revenues for Q4 2024 were $9.8 million, a 24% increase year over year [21] - Gross margin for the full year was 32%, with an adjusted gross margin of over 35% in Q4 2024 without asset adjustments [22][23] - Loss per share for Q4 2024 was $0.73, improved from $0.28 in the prior year [24] Business Line Data and Key Metrics Changes - Service revenue for the full year was $35 million, driven by increased utilization and a greater number of Blink-owned chargers [10] - Revenue from DC fast chargers grew nearly 500% in 2024 compared to 2023 [14] - Network fees increased 9% year over year to $2.4 million [8] 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. [11] - Used EV sales grew by nearly 31% year over year in January 2025 [12] - In the UK, nearly 20% of vehicles sold in 2024 were electric, with a 57% increase in used EV sales [16] 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 [7][27] - The strategic plan, Blink Forward, aims to reduce operating expenses and cash burn while promoting profitability [27][30] - The company is exploring market consolidation opportunities to enhance growth [30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the continued growth of service revenues throughout 2025 [25] - The company is monitoring political developments and market conditions regarding tariffs but does not expect significant impacts on gross margins [13] - Management highlighted the importance of operational strategies to navigate the challenging industry landscape [27] Other Important Information - The company reduced cash burn by 51% in 2024, with operating expenses down 24% [20][27] - The company ended 2024 with cash liquidity of $55 million, including liquid marketable securities and no cash debt [25] Q&A Session Summary Question: What is the outlook for product sales visibility in 2025? - Management expects some challenges in the first half of 2025 but is optimistic about the second half due to new sales strategies [32][36] Question: Are there acquisition targets being considered? - Management confirmed that there are companies under consideration for acquisition, particularly in Europe [37][38] Question: What is the timeline for the Envoy IPO? - The company is on track for an IPO in the spring [39] 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 [47][61] Question: How is the company addressing regulatory changes and tariffs? - The company has production facilities in the U.S. and India, which helps mitigate tariff impacts [83] Question: What is the status of the residential EV charging market? - The company focuses on commercial and multifamily markets, with increasing demand for charging infrastructure [93][94]

LOS ANGELES, CA, March 12, 2025 (GLOBE NEWSWIRE) -- Envoy Technologies Inc. (“Envoy”), a Blink Charging Co. entity and leading provider of electric car-sharing services, has announced its official certification as a vendor for DayBlink GPO, the largest hospitality buying consortium supporting luxury independents globally. The certification makes Envoy’s services available to the organization’s more than 1,100 independent luxury hotels around the world. Envoy’s inclusion in the GPO provides DayBlink properti ...

LOS ANGELES, CA, March 12, 2025 (GLOBE NEWSWIRE) -- Envoy Technologies Inc. ("Envoy"), a Blink Charging Co. entity and leading provider of electric car-sharing services, has announced its official certification as a vendor for DayBlink GPO, the largest hospitality buying consortium supporting luxury independents globally. The certification makes Envoy's services available to the organization's more than 1,100 independent luxury hotels around the world. Envoy's inclusion in the GPO provides DayBlink properti ...

Core Insights - Blink Charging UK has been named the preferred bidder for a 15-year contract valued at over £500,000 to install a minimum of 350 electric vehicle chargers in Brighton & Hove [1][2] - This contract will be one of the first awarded through the Local Electric Vehicle Infrastructure Fund (LEVI), aimed at expanding EV charging networks across the UK [2] - Blink Charging UK has a successful five-year history of providing EV charging solutions in the region and aims to enhance the reliability and sustainability of the charging network [3] Company Overview - Blink Charging UK is a leader in electric vehicle charging technology and services, facilitating the transition to electric transportation through innovative solutions [4] - The company is committed to providing accessible and reliable charging options for communities, businesses, and government projects across the UK [4] - Blink Charging Co. operates a cloud-based network that maintains and tracks EV charging stations and associated data, with strategic partnerships across various location types [5]

Company Performance - Blink Charging (BLNK) closed at $1.04, reflecting a -1.89% change from the previous day, underperforming the S&P 500's gain of 0.55% [1] - Over the past month, shares of Blink Charging have decreased by 8.62%, which is slightly worse than the Computer and Technology sector's loss of 8.51% and the S&P 500's loss of 5.56% [1] Upcoming Earnings - The upcoming earnings release for Blink Charging is scheduled for March 13, 2025, with an expected EPS of -$0.17, indicating a 39.29% growth compared to the same quarter last year [2] - Revenue is projected to be $32.41 million, reflecting a 24.12% decline from the equivalent quarter last year [2] Analyst Estimates - Recent changes to analyst estimates for Blink Charging are noteworthy, as positive revisions are generally seen as a good sign for the company's business outlook [3] - The Zacks Rank system, which incorporates these estimate changes, indicates that Blink Charging currently holds a Zacks Rank of 3 (Hold) [5] Industry Context - Blink Charging operates within the Electronics - Miscellaneous Services industry, which is part of the Computer and Technology sector [6] - This industry currently holds a Zacks Industry Rank of 88, placing it in the top 36% of over 250 industries, suggesting a relatively strong performance compared to others [6]

Core Viewpoint - Wall Street anticipates a year-over-year increase in earnings for Blink Charging despite lower revenues, with a focus on how actual results will compare to estimates [1][2]. Earnings Expectations - Blink Charging is expected to report a quarterly loss of $0.17 per share, reflecting a year-over-year change of +39.3% [3]. - Revenues are projected to be $32.41 million, down 24.1% from the same quarter last year [3]. Estimate Revisions - The consensus EPS estimate has remained unchanged over the last 30 days, indicating a stable outlook from covering analysts [4]. - A negative Earnings ESP of -5.88% suggests analysts have recently become bearish on the company's earnings prospects [10][11]. Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that a positive or negative reading can predict deviations from consensus estimates, with positive readings being more reliable [6][7]. - Stocks with a positive Earnings ESP and a Zacks Rank of 1, 2, or 3 have shown a nearly 70% success rate in beating earnings expectations [8]. Historical Performance - Blink Charging has beaten consensus EPS estimates three out of the last four quarters, with a recent surprise of +5.88% when it reported a loss of $0.16 instead of the expected loss of $0.17 [12][13]. Conclusion - Blink Charging does not appear to be a strong candidate for an earnings beat based on current estimates and rankings, but other factors may influence stock performance [16].

Core Insights - Envoy Technologies Inc. has launched its electric vehicle car-sharing service at The Modern Seattle, enhancing urban living amenities and marking a significant expansion milestone for the company [1][3] - The Modern Seattle, a luxury property with 216 units, now offers residents exclusive access to a Lucid Air Touring, which complements its existing luxury offerings and enhances its appeal in the competitive Seattle real estate market [2][4] - The collaboration between Envoy and Sentral aims to elevate property value propositions and enhance resident satisfaction, potentially increasing rental income [3][4] Company Overview - Envoy is a leading provider of electric car-sharing services, headquartered in Culver City, California, and focuses on delivering electric car-sharing as a premium amenity for private properties [6] - The company supports nationwide goals to reduce parking demand and individual car ownership, while also providing developers with access to development incentives aligned with urban development goals [6] - Blink Charging Co., the parent company of Envoy, is a global leader in electric vehicle charging equipment and services, facilitating the transition to electric transportation through innovative solutions [7][8]

Core Insights - Envoy Technologies Inc. has launched its electric vehicle car-sharing service at The Modern Seattle, enhancing urban living amenities and marking a significant expansion milestone for the company [1][3] Company Overview - Envoy is a leading provider of electric car-sharing services, headquartered in Culver City, California, and is a subsidiary of Blink Charging Co. [6] - The company focuses on delivering electric car-sharing as a premium amenity for private properties, including apartments and hotels, supporting urban development goals and reducing parking demand [6] Service Launch Details - The Modern Seattle, a luxury high-rise with 216 units, now offers residents exclusive access to a Lucid Air Touring through Envoy's service, enhancing the property's appeal in Seattle's competitive real estate market [2][3] - The collaboration with Sentral aims to elevate property value and resident satisfaction, potentially increasing rental income [3][4] Strategic Expansion - Envoy's presence in Seattle includes other properties like The M, a student housing complex, and aims to strengthen its foothold in the Pacific Northwest luxury market [4] - The launch at The Modern Seattle is expected to be the first of additional collaborations with Sentral, indicating a strategic growth plan [4]

Core Viewpoint - Blink Charging Co. is set to announce its fourth quarter and year-end 2024 results on March 13, 2025, with a conference call scheduled for the same day to discuss these results [1]. Company Overview - Blink Charging Co. is a leading global provider of electric vehicle (EV) charging equipment and services, facilitating the transition to electric transportation through innovative solutions [4]. - The company's main offerings include the Blink Network, EV charging equipment, and related services, utilizing proprietary cloud-based software for operation and maintenance [4]. - Blink has established strategic partnerships for the deployment of charging solutions across various locations, including parking facilities, residential areas, workplaces, healthcare facilities, educational institutions, airports, and retail spaces [4]. Event Details - The conference call will take place at 4:30 p.m. Eastern Time on March 13, 2025, following the market close [1]. - Investors can access the live webcast through the Blink Charging website or via a specific link provided [2]. - A replay of the teleconference will be available until April 12, 2025, with specific dialing instructions for access [3]. Investor Relations - Contact information for investor relations and media inquiries is provided, including email addresses and phone numbers for key personnel [6].