Bowie, MD., April 09, 2025 (GLOBE NEWSWIRE) -- Blink Charging Co. (NASDAQ: BLNK) (“Blink” or the “Company”), a leading global owner, operator, provider, and manufacturer of electric vehicle (EV) charging equipment and services, announced today it has filed its Form 10-K for the year ended December 31,2024 with the Securities and Exchange Commission (SEC). The Company noted that today’s Form 10-K filing reflects no change to the 2024 financial results as reported in the Company’s fourth quarter and full year ...

Core Insights - Envoy Technologies Inc. has launched a new electric vehicle car-sharing service at 210 South 12th, a luxury high-rise in Philadelphia, marking a significant step in the company's expansion and urban living standards [1][5] - The collaboration with 210 South 12th enhances the property's appeal by providing exclusive access to Envoy's EV-sharing service, including the first Cadillac LYRIQs in the Philadelphia fleet [2][5] - The integration of a fully automated parking garage, the largest in the country and first in Philadelphia, aligns with Envoy's commitment to innovative and sustainable transportation solutions [3][4] Company Overview - Envoy is a leading provider of electric vehicle fleet technology and EV-sharing services, headquartered in Culver City, California, focusing on private property amenities [7] - The company aims to reduce parking demand and individual car ownership while enhancing mobility as part of residents' lifestyles [7] - Envoy's services are designed to enrich the living experience in high-end residential properties, aligning with urban development goals [7] Market Position - The launch at 210 South 12th strengthens Envoy's presence in the Philadelphia luxury market and demonstrates its ability to integrate with advanced residential technologies [5] - This collaboration opens opportunities for potential expansion into other metropolitan areas with similar high-end properties [5] - Property managers are encouraged to consider Envoy's services to enhance their offerings and attract residents [5]

Business Operations and Growth - As of December 31, 2024, Blink Charging Co. contracted, sold, or deployed a total of 109,596 chargers, with 87,500 on Blink Networks, including 61,625 Level 2 commercial chargers and 1,392 DCFC commercial chargers[38]. - In 2024, Blink entered into agreements with significant new customers, including the City of South Lake Tahoe and the City of Fresno, expanding potential unit sales and deployments[35]. - Blink's EV charging solutions include a variety of products such as Level 2 chargers, DC Fast Charging equipment, and mobile chargers, catering to both commercial and residential markets[48]. - Blink expanded its presence through acquisitions of SemaConnect and Electric Blue, establishing new offices and manufacturing facilities in the U.S. and internationally[37]. - Blink's business models include turnkey and hybrid solutions, allowing for recurring revenue and shared EV charging revenues with Property Partners[36]. - The company aims to enhance customer satisfaction by optimizing charger uptime and expanding EV charging infrastructure in high-demand areas[53]. - The company plans to continue investing significantly in technology upgrades to maintain competitiveness in the rapidly changing EV market[119]. - Future growth strategies include seeking acquisition opportunities to expand market presence and product offerings[121][122]. Financial Performance - The company incurred net losses of approximately $198.1 million, $203.7 million, and $91.6 million for the years ended December 31, 2024, 2023, and 2022, respectively, with an accumulated deficit of approximately $736 million as of December 31, 2024[92]. - Total revenue for the year ended December 31, 2024, was $126,197, a decrease of $14,401 or 10% compared to $140,598 for the year ended December 31, 2023[216]. - Revenue from product sales was $81,703 for the year ended December 31, 2024, down $27,713 or 25% from $109,416 in 2023, attributed to decreased unit sales and product mix[217]. - Charging service revenue increased by $5,799 or 37%, reaching $21,445 in 2024 compared to $15,646 in 2023[216]. - Warranty revenue saw a significant increase of $3,169 or 97%, totaling $6,427 in 2024 compared to $3,258 in 2023[216]. - The Blink-owned turnkey business model allows the company to retain substantially all EV charging revenues after deducting network connectivity and processing fees[204]. Market and Industry Trends - The U.S. EV market saw a 15.2% increase in electric vehicle sales in Q4 2024, reaching a record of 365,824 units sold[40]. - By the end of 2024, auto manufacturers announced $197.6 billion in investments in U.S. EV battery manufacturing facilities, supporting over 50,000 jobs[41]. - Used EV sales grew 61.3% nationally in November 2024, indicating a rising demand for public and on-site commercial charging solutions[42]. - The company’s growth is highly dependent on consumer adoption of electric vehicles (EVs), which is still in its early stages[96]. - The company operates in a highly competitive EV charging services industry, facing significant competition from larger firms with greater financial resources[129]. - The company anticipates intensified competition as the market for EV charging stations expands, which may force it to agree to lower payment terms in contracts[130]. Risks and Challenges - The company may need additional capital to fund its growing operations, and there is no assurance that sufficient capital will be available[94]. - The company faces risks related to global supply chain disruptions, including chip shortages, which may affect future operations[101]. - The company is exposed to geopolitical tensions that may disrupt supply chains and impact financial results[103]. - The company relies on a limited number of vendors for EV charging equipment, increasing risks associated with supply chain disruptions[106]. - Climate change poses long-term risks to operations, particularly in vulnerable locations like Bowie, Maryland, and Los Angeles, California[112]. - The company faces risks related to the integration of acquired businesses, which may include undiscovered liabilities and operational challenges[122][124]. - Cyberattacks or data breaches pose a risk to the company's sensitive information and could negatively impact financial results[139]. - Changes in federal, state, or international laws could erode the company's competitive strengths and lead to increased compliance costs[141]. - Environmental laws and regulations may result in increased compliance costs and operational restrictions, adversely impacting financial results[148]. Compliance and Legal Matters - The company is subject to various environmental regulations, including the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA), which may impose joint and several liabilities for hazardous substance releases[79]. - The company relies on a combination of patent, trademark, copyright, and trade secret laws to protect its proprietary rights, particularly related to EV charging station designs[83][84]. - The company has been involved in various legal proceedings, including a securities class action lawsuit that was settled for $3.75 million, covered by insurance[184]. - The company received a subpoena from the SEC in July 2023, but the investigation concluded without recommending enforcement action[188]. - The company has identified material weaknesses in its internal controls over financial reporting as of December 31, 2024, which could lead to misstatements in financial statements[153]. Stock and Shareholder Information - The company reported a significant fluctuation in its common stock price during 2024, ranging from a low of $1.39 to a high of $3.70 per share, and from a low of $0.83 to a high of $1.68 per share in 2025[157]. - The company must maintain a minimum closing bid price of $1.00 per share to satisfy Nasdaq listing standards, with a compliance period of 180 days if this requirement is not met[171]. - The common stock has closed below the $1.00 bid requirement for Nasdaq on multiple trading days in late February and early March 2025, which may lead to delisting risks[172]. - The company has never declared or paid cash dividends on its common stock and intends to retain all available funds for business operations[196]. - The company has the authority to issue additional shares of common and preferred stock without stockholder approval, which could dilute existing shareholders' ownership[164].

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]

Bowie, Md., March 18, 2025 (GLOBE NEWSWIRE) -- Blink Charging Co. (NASDAQ: BLNK) (“Blink” or the “Company”), a leading global owner, operator, provider and manufacturer of electric vehicle (EV) charging equipment and services, has announced it has reached an agreement to supply 50 chargers at select premium hotels, retail and restaurant locations throughout Mexico as part of the Porsche Destination Charging Program. Porsche Destination Charging is a global charging network that offers drivers of fully elect ...

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]

Blink Charging (BLNK) came out with a quarterly loss of $0.15 per share versus the Zacks Consensus Estimate of a loss of $0.18. This compares to loss of $0.28 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 16.67%. A quarter ago, it was expected that this company would post a loss of $0.17 per share when it actually produced a loss of $0.16, delivering a surprise of 5.88%.Over the last four quarters, the company has surpassed ...

Blink Charging Co. (NASDAQ:BLNK) Q4 2024 Earnings Conference Call March 13, 2025 4:30 PM ET Company Participants Vitalie Stelea - Vice President of Investor Relations Michael Battaglia - President & Chief Executive Officer Michael Rama - Chief Financial Officer Conference Call Participants Sameer Joshi - H.C. Wainwright Chris Pierce - Needham Craig Irwin - Roth Capital Partners Mickey Legg - Benchmark Noel Parks - Tuohy Brothers Operator Please continue to hold. Please continue to hold, ladies and gentlemen ...