Core Insights - Blink Charging Co. has announced a collaboration with Flowbird Smart City UK to provide exclusive EV charging solutions for NHS Property Services across the UK [1][2] - The partnership aims to roll out EV chargers at various NHSPS locations, enhancing the charging infrastructure for NHS services [2][3] Company Overview - Blink Charging Co. is a global leader in electric vehicle (EV) charging equipment and services, facilitating the transition to electric transportation through innovative solutions [5] - The company's offerings include the Blink Network, EV charging equipment, and services, supported by proprietary cloud-based software for operation and maintenance [5] Strategic Collaboration - The collaboration with NHSPS and Flowbird Smart City UK is expected to create a scalable EV charging network, integrating smart management solutions [4] - The initiative is part of Blink's broader strategy to secure partnerships with local authorities and businesses to promote sustainable energy management [4]

Core Insights - Blink Charging Co. has partnered with Nexxtlab to provide energy management tools aimed at facilitating the energy transition for businesses using electric vehicle (EV) fleets in Europe [1][3]. Company Overview - Blink Charging is a leading global provider of EV charging equipment and services, focusing on innovative solutions to support the transition to electric transportation [6]. - Nexxtlab specializes in energy management and digital transformation within the energy sector, known for its Smartmaster platform that integrates various energy assets [5]. Product and Technology - Nexxtlab's Smartmaster platform integrates Blink's EV charging locations across multiple European countries, creating a seamless ecosystem for energy management [2]. - The Smartmaster system is scalable and designed to reduce operating costs, enhance performance, and support energy independence by managing peak demand and eliminating demand charges [2][4]. - The platform optimizes charging based on local renewable energy forecasts, aligning charging times with periods of high renewable energy generation [3]. Strategic Goals - The collaboration aims to redefine EV infrastructure and support businesses in the energy transition, providing a fully integrated approach to energy and charging [3][4]. - Both companies are focused on creating a flexible and smart charging ecosystem that benefits businesses and EV drivers, enhancing resilience and accessibility in energy management [4].

Core Insights - Blink Charging Co. and Presto have announced a collaboration to enhance EV charging infrastructure for fleet and rideshare drivers, allowing easier access to Blink's fast-charging network through the Presto app [1][2][3] - The integration aims to provide a seamless charging experience by enabling fleet operators to locate, charge, and pay at Blink's charging stations efficiently [2][4] - This partnership is expected to increase fleet engagement and charging sessions, benefiting both Blink and Presto by optimizing demand from various fleet market segments [3][4] Company Overview - Blink Charging Co. is a leading provider of electric vehicle charging equipment and services, operating a proprietary network that tracks and maintains EV charging stations [6][7] - Presto is an EV charging platform that facilitates seamless charging experiences for fleets and mobility providers, offering a user-friendly app and APIs for easy integration [4][6]

Company Performance - Blink Charging reported a quarterly loss of $0.26 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.17, representing an earnings surprise of -52.94% [1] - The company posted revenues of $28.67 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 24.50%, but down from $33.26 million in the same quarter a year ago [2] - Over the last four quarters, Blink Charging has surpassed consensus EPS estimates two times and topped consensus revenue estimates just once [2] Stock Movement and Outlook - Blink Charging shares have lost approximately 32.4% since the beginning of the year, while the S&P 500 has gained 9.7% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the coming quarter is -$0.15 on revenues of $26.59 million, and for the current fiscal year, it is -$0.64 on revenues of $102.63 million [7] Industry Context - The Electronics - Miscellaneous Services industry, to which Blink Charging belongs, is currently in the top 1% of over 250 Zacks industries, indicating a favorable outlook [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact Blink Charging's stock performance [5][6]

Financial Data and Key Metrics Changes - In Q2 2025, total revenues were $28.7 million, a decrease from $33.3 million in Q2 2024, but showed a sequential growth of 38% [21][10] - Product revenues for Q2 2025 were $14.5 million, down from $23.6 million in Q2 2024, but increased by 73% sequentially [21][10] - Service revenues reached $11.8 million, up 46% year over year and 11% sequentially [12][21] - Gross profit was $2.1 million, representing 7.3% of revenues, compared to $10.7 million or 32% of revenues in the prior year [22][23] - Loss per share for Q2 was $0.31 compared to a loss of $0.20 in the prior year [25] Business Line Data and Key Metrics Changes - Product revenue growth was primarily driven by strong demand for DC fast chargers and Level 2 units, with a 73% increase sequentially [11][10] - Service revenue growth reflects increased demand for charging and network services, particularly in Europe and the U.S. [11][12] - The company delivered a record 49 gigawatt hours of energy, a 66% year-over-year increase [12] Market Data and Key Metrics Changes - The U.S. market saw a 47% growth in service revenue, while Europe experienced a 26% growth [57] - The company anticipates continued sequential growth in revenue, driven by improved demand signals and operational efficiencies [28][26] Company Strategy and Development Direction - The company is focused on becoming a profitable technology-driven leader in EV charging, emphasizing innovation and operational discipline [5][8] - The acquisition of Zometric aims to fill a gap in the product portfolio for lower-cost chargers, enhancing the company's offerings in fleet and multifamily markets [14][15] - The company is committed to reducing operating expenses by $8 million annually through various initiatives [30][24] Management's Comments on Operating Environment and Future Outlook - Management noted that industry consolidation is expected to accelerate, and the company is focused on adapting to changing market dynamics [28] - The company is optimistic about revenue growth in the second half of the year, driven by both product and service sales [30][38] - Management emphasized the importance of maintaining a strong cash position and improving working capital practices [26][44] Other Important Information - The company resolved uncertainties surrounding its Envoy subsidiary, releasing it from payment obligations in exchange for stock and performance-based warrants [19] - The company ended the quarter with $25.3 million in cash and cash equivalents, down from $55 million at the end of 2024, but remains debt-free [25][26] Q&A Session Summary Question: Inquiry about gross margins and product sales - Management acknowledged that the gross margin was impacted by a higher mix of lower-margin DC fast chargers but expects margins to remain healthy moving forward [34][35] Question: Expectations for cash flow improvement - Management indicated that cash burn is expected to decrease in the second half of the year due to improved working capital practices and reduced operating expenses [44][45] Question: Clarification on the Envoy restructuring - The transaction effectively eliminates contingent liabilities associated with Envoy, providing a clearer balance sheet [48][49] Question: Details on the Zometric acquisition and its impact - The acquisition is expected to enhance product offerings and revenue through both product sales and charge point operator business [61][65]

[PART I - FINANCIAL INFORMATION](index=4&type=section&id=PART%20I%20-%20FINANCIAL%20INFORMATION) This section details the unaudited condensed consolidated financial statements and management's analysis for the period ended June 30, 2025 [Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements.) The unaudited financial statements for H1 2025 show a deteriorating financial position, with declining assets, widening losses, and a going concern doubt [Unaudited Condensed Consolidated Balance Sheets](index=4&type=section&id=Unaudited%20Condensed%20Consolidated%20Balance%20Sheets) This section presents the company's financial position as of June 30, 2025, highlighting decreases in assets and equity Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2025 | December 31, 2024 | Change | | :--- | :--- | :--- | :--- | | Cash and cash equivalents | $25,318 | $41,774 | $(16,456) | | Total Current Assets | $98,500 | $141,152 | $(42,652) | | Total Assets | $168,422 | $217,988 | $(49,566) | | Total Current Liabilities | $58,009 | $59,244 | $(1,235) | | Total Liabilities | $97,670 | $99,286 | $(1,616) | | Total Stockholders' Equity | $70,752 | $118,702 | $(47,950) | | Accumulated Deficit | $(788,521) | $(735,855) | $(52,666) | [Unaudited Condensed Consolidated Statements of Operations](index=6&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Operations) This section details the company's revenue and loss performance for the second quarter and first six months of 2025 Q2 2025 vs Q2 2024 Statement of Operations (in thousands) | Metric | Q2 2025 | Q2 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Total Revenues | $28,667 | $33,262 | -13.8% | | Gross Profit | $2,094 | $10,713 | -80.5% | | Loss From Operations | $(32,209) | $(20,649) | +56.0% | | Net Loss | $(31,959) | $(20,059) | +59.3% | | Net Loss Per Share (Basic) | $(0.31) | $(0.20) | +55.0% | Six Months 2025 vs Six Months 2024 Statement of Operations (in thousands) | Metric | H1 2025 | H1 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Total Revenues | $49,421 | $70,830 | -30.2% | | Gross Profit | $9,463 | $24,132 | -60.8% | | Loss From Operations | $(53,289) | $(38,132) | +39.8% | | Net Loss | $(52,666) | $(37,232) | +41.5% | | Net Loss Per Share (Basic) | $(0.51) | $(0.37) | +37.8% | [Unaudited Condensed Consolidated Statements of Comprehensive Loss](index=8&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Loss) This section presents the company's comprehensive loss, including net loss and other comprehensive income items Comprehensive Loss (in thousands) | Period | Net Loss | Cumulative Translation Adjustments | Total Comprehensive Loss | | :--- | :--- | :--- | :--- | | **Q2 2025** | $(31,959) | $(679) | $(32,638) | | **Q2 2024** | $(20,059) | $(400) | $(20,459) | | **H1 2025** | $(52,666) | $2,072 | $(50,594) | | **H1 2024** | $(37,232) | $(1,637) | $(38,869) | [Unaudited Condensed Consolidated Statements of Changes in Stockholders' Equity](index=9&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Changes%20in%20Stockholders'%20Equity) This section outlines the changes in the company's stockholders' equity during the reporting period - Total Stockholders' Equity decreased from **$118.7 million** at the beginning of 2025 to **$70.8 million** as of June 30, 2025. The decrease was primarily driven by a net loss of **$52.7 million** for the six-month period[18](index=18&type=chunk) - The company issued **681,330 shares** of common stock through a public offering in the first six months of 2025, raising net proceeds of **$891 thousand**[18](index=18&type=chunk) [Unaudited Condensed Consolidated Statements of Cash Flows](index=11&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) This section summarizes the company's cash inflows and outflows from operating, investing, and financing activities Six Months Ended June 30 Cash Flow Summary (in thousands) | Cash Flow Activity | 2025 | 2024 | | :--- | :--- | :--- | | Net Cash Used In Operating Activities | $(28,524) | $(25,735) | | Net Cash Provided By (Used In) Investing Activities | $10,106 | $(3,873) | | Net Cash Provided By (Used In) Financing Activities | $874 | $(13,472) | | Net Decrease In Cash | $(16,450) | $(42,944) | | Cash at End of Period | $25,402 | $55,856 | - Cash from investing activities was positive in H1 2025 due to **$13.6 million** in proceeds from the sale of marketable securities, compared to a net use of cash in H1 2024[24](index=24&type=chunk) [Notes to Unaudited Condensed Consolidated Financial Statements](index=14&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) This section provides critical disclosures, including going concern warnings, revenue breakdowns, and subsequent events - **Going Concern:** The company states that its current cash and working capital are insufficient to fund future operations, raising substantial doubt about its ability to continue as a going concern for at least one year. Management's plans to raise capital or improve operations do not alleviate this doubt[40](index=40&type=chunk)[42](index=42&type=chunk) Revenue by Geography (Six Months Ended June 30, in thousands) | Region | 2025 | 2024 | | :--- | :--- | :--- | | U.S.A. | $30,270 | $51,820 | | International | $19,151 | $19,010 | | **Total Revenue** | **$49,421** | **$70,830** | - **Revision of Prior Financials:** The company identified a misstatement in its Q2 2024 financials, having incorrectly classified marketable securities as cash and cash equivalents. The statements have been revised to correct this[103](index=103&type=chunk)[105](index=105&type=chunk) - **Subsequent Events:** After the quarter end, the company acquired Zemetric, Inc. on July 7, 2025, and amended its merger agreement with Envoy Technologies on August 4, 2025, to settle payment obligations with Blink common stock and warrants[112](index=112&type=chunk)[113](index=113&type=chunk)[114](index=114&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=34&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations.) Management discusses the Q2 revenue decline driven by lower product sales, significant gross margin contraction, increased operating expenses, and reiterates going concern doubt - As of June 30, 2025, the company had contracted, sold, or deployed **110,828 chargers**, with **88,168** of them on the Blink Networks[124](index=124&type=chunk) - **Going Concern Warning:** Management explicitly states that current cash resources are insufficient to fund operations for the next twelve months, concluding that substantial doubt exists about the company's ability to continue as a going concern[146](index=146&type=chunk) Q2 2025 vs Q2 2024 Revenue Breakdown (in thousands) | Revenue Source | Q2 2025 | Q2 2024 | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Product sales | $14,508 | $23,582 | $(9,074) | -38% | | Charging service revenue | $7,691 | $4,936 | $2,755 | 56% | | Network fees | $2,954 | $1,907 | $1,047 | 55% | | **Total Revenues** | **$28,667** | **$33,262** | **$(4,595)** | **-14%** | - The increase in cost of product sales in Q2 2025 was primarily due to a **$6.4 million** adjustment for excess and obsolete inventory and a **$3.9 million** loss on disposal of non-performing chargers[159](index=159&type=chunk) - Compensation expense decreased by **22%** in Q2 2025 compared to Q2 2024 due to cost savings from reduced personnel in executive, marketing, sales, and operations departments[169](index=169&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=49&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk.) The company identifies foreign currency risk, primarily from the euro, but deems it immaterial and does not currently use hedging instruments - The company is exposed to foreign currency risk, primarily from the euro, but considers the potential impact of a **1%** adverse fluctuation to be immaterial as of June 30, 2025[214](index=214&type=chunk) - Blink does not currently use financial instruments to hedge its foreign currency exchange risk[214](index=214&type=chunk) [Controls and Procedures](index=49&type=section&id=Item%204.%20Controls%20and%20Procedures.) Management concluded that disclosure controls and procedures were ineffective as of June 30, 2025, due to previously identified material weaknesses in internal control over financial reporting - The CEO and CFO concluded that as of June 30, 2025, the company's disclosure controls and procedures were not effective[217](index=217&type=chunk) - The ineffectiveness is attributed to material weaknesses in internal control over financial reporting that were previously disclosed in the 2024 Form 10-K[217](index=217&type=chunk) - Management is continuing to commit resources to remediate the identified material weaknesses[219](index=219&type=chunk) [PART II - OTHER INFORMATION](index=51&type=section&id=PART%20II%20-%20OTHER%20INFORMATION) This section covers legal proceedings, risk factors, and other required disclosures for the reporting period [Legal Proceedings](index=51&type=section&id=Item%201.%20Legal%20Proceedings.) The company is involved in an arbitration with FGI and notes the conclusion of a previously disclosed SEC investigation with no enforcement action - The company is in arbitration with FGI, a company of former CEO Michael D. Farkas, over a commission dispute. The outcome is not currently expected to be material[224](index=224&type=chunk) - An SEC investigation initiated in July 2023 was concluded in January 2025, with the SEC staff issuing a termination letter and not recommending an enforcement action[225](index=225&type=chunk) [Risk Factors](index=51&type=section&id=Item%201A.%20Risk%20Factors.) This section updates significant financial risks, emphasizing substantial net losses, a large accumulated deficit, and explicit going concern doubt - The company explicitly states that substantial doubt exists about its ability to continue as a going concern due to a history of substantial net losses and the expectation that losses will continue[227](index=227&type=chunk) - As of June 30, 2025, the company had an accumulated deficit of approximately **$788 million** and net working capital of approximately **$40 million**[227](index=227&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=51&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds.) The company reported no unregistered sales of equity securities, use of proceeds, or issuer purchases of equity securities during the period - None [Defaults Upon Senior Securities](index=51&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities.) The company reported no defaults upon senior securities during the period - None [Mine Safety Disclosures](index=51&type=section&id=Item%204.%20Mine%20Safety%20Disclosures.) This item is not applicable to the company - Not applicable [Other Information](index=51&type=section&id=Item%205.%20Other%20Information.) The company reported no other information required to be disclosed under this item - None [Exhibits](index=53&type=section&id=Item%206.%20Exhibits.) This section lists the exhibits filed with the Form 10-Q, including amendments to the Envoy Merger Agreement, employment agreements, certifications by the Principal Executive Officer and Principal Financial Officer, and XBRL data files - Lists exhibits filed with the report, including amendments to the Envoy Merger Agreement and officer certifications[233](index=233&type=chunk)

2 3 3 2Q25 Gross Profit and Gross Margin were impacted by $6.4 million in non-cash charges related to obsolete inventory adjustments and write-down of capitalized costs related to incomplete projects $8.0 $8.8 $9.8 $10.6 $11.8 $- $2.0 $4.0 $6.0 $8.0 $10.0 $12.0 2Q24 3Q24 4Q24 1Q25 2Q25 $ in millions Over Last 5 Quarters 5 Repeat and Recurring Service Revenue All comparisons are Q2 -2025 year-over-year, unless otherwise noted Service Revenues consist of repeat charging service revenues, recurring network fee ...

[Financial & Operational Highlights](index=1&type=section&id=Financial%20%26%20Operational%20Highlights) Blink Charging reported **$28.7 million** in Q2 2025 revenues, up **38.1%** sequentially, driven by product sales, and reduced annualized operating expenses by **$8 million** Q2 2025 Revenue Performance (in thousands) | Revenue Type | Q2 2025 | vs Q1 2025 | % Change (QoQ) | vs Q2 2024 | % Change (YoY) | | :--- | :--- | :--- | :--- | :--- | :--- | | Product Revenues | $14,508 | $8,381 | 73.1% | $23,582 | (38.5)% | | Service Revenues | $11,756 | $10,581 | 11.1% | $8,045 | 46.1% | | Other Revenues | $2,403 | $1,792 | 34.1% | $1,635 | 47.0% | | **Total Revenues** | **$28,667** | **$20,754** | **38.1%** | **$33,262** | **(13.8)%** | - CEO Mike Battaglia highlighted the **38%** sequential revenue growth to **$28.7 million**, driven by a **73%** increase in product sales and an **11%** rise in service revenues[5](index=5&type=chunk) - The company incurred approximately **$16.5 million** in largely one-time, non-cash charges during the quarter[6](index=6&type=chunk) - Blink successfully reduced annualized expenses by **$8 million** through efficiency measures, including a **22%** year-over-year reduction in compensation expenses[6](index=6&type=chunk) - Subsequent to the quarter's end, Blink acquired Zemetric, Inc. to expand its product portfolio and announced a revised agreement with former Envoy Technologies shareholders, releasing Blink from payment obligations in exchange for stock and warrants[6](index=6&type=chunk) [Business Updates & Outlook](index=2&type=section&id=Business%20Updates%20%26%20Outlook) Blink acquired Zemetric and restructured the Envoy agreement, anticipating continued sequential revenue growth and focusing on operational efficiency to achieve profitability [Acquisition of Zemetric, Inc.](index=2&type=section&id=Acquisition%20of%20Zemetric%2C%20Inc.) Blink acquired Zemetric, Inc. to expand its L2 charging portfolio, appointing Zemetric's founder as its new CTO - The acquisition of Zemetric, Inc. adds market-leading hardware and software solutions for fleets, multi-family, and commercial applications to Blink's portfolio[7](index=7&type=chunk) - Zemetric's founder, Harmeet Singh, has been appointed as Blink's Chief Technology Officer, tasked with enhancing interoperability and reducing total cost of ownership for customers[8](index=8&type=chunk) [Envoy Technologies Update](index=2&type=section&id=Envoy%20Technologies%20Update) Blink amended its Envoy Technologies agreement, exchanging **$10 million** in stock and **$11 million** in performance-based warrants for release from payment obligations - Blink is released from all payment obligations and liability to former Envoy shareholders in exchange for **$10 million** in common stock and **$11 million** in performance-based warrants[9](index=9&type=chunk) - The warrants are divided into three tranches that vest when Blink's stock price reaches **$1.70**, **$2.10**, and **$4.85**, respectively, for seven consecutive days[11](index=11&type=chunk) [Business Outlook](index=2&type=section&id=Business%20Outlook) The company anticipates continued sequential revenue growth in H2 2025, focusing on expense management and cost reduction for profitability - Blink anticipates strong momentum in both recurring revenues (from network fees) and repeatable charging revenues (from charger utilization)[10](index=10&type=chunk) - The company is focused on advancing operational efficiency through disciplined expense management to lower operating costs, reduce cash burn, and achieve profitability[12](index=12&type=chunk) [Detailed Financial Results (Q2 2025)](index=3&type=section&id=Detailed%20Financial%20Results%20%28Q2%202025%29) Q2 2025 revenues were **$28.7 million**, with a **$32.0 million** net loss, impacted by a **$6.4 million** inventory charge, and **$25.3 million** in cash and marketable securities [Revenues](index=3&type=section&id=Revenues) Q2 2025 total revenues reached **$28.7 million**, with product revenues at **$14.5 million** and service revenues at **$11.8 million**, reflecting strong sequential and YoY service growth Revenue Breakdown (in millions) | Period | Total Revenue | Product Revenue | Service Revenue | Other Revenue | | :--- | :--- | :--- | :--- | :--- | | **Q2 2025** | **$28.7** | **$14.5** | **$11.8** | **$2.4** | | Q2 2024 | $33.3 | $23.6 | $8.0 | $1.6 | | **H1 2025** | **$49.4** | **$22.9** | **$22.3** | **$4.2** | | H1 2024 | $70.8 | $51.1 | $16.2 | $3.5 | [Profitability](index=3&type=section&id=Profitability) Q2 2025 gross profit was **$2.1 million** (7% margin), significantly impacted by a **$6.4 million** non-cash inventory charge, with operating expenses at **$34.3 million** - Q2 2025 gross profit was **$2.1 million**. Excluding a **$6.4 million** non-cash inventory and PP&E adjustment, gross profit would have been **$8.5 million**, representing a **30% margin**[17](index=17&type=chunk) - Q2 2025 operating expenses were **$34.3 million**. Excluding approximately **$10.1 million** in one-time, non-cash charges (related to asset impairment, Envoy consideration, etc.), operating expenses would have been **$24.2 million**[18](index=18&type=chunk)[19](index=19&type=chunk) [Net Loss and EPS](index=4&type=section&id=Net%20Loss%20and%20EPS) Q2 2025 net loss was **$32.0 million** (or **($0.31)** per share), with an Adjusted EBITDA loss of **$24.5 million** and Adjusted EPS loss of **($0.26)** Net Loss and EPS (GAAP) | Metric | Q2 2025 | Q2 2024 | H1 2025 | H1 2024 | | :--- | :--- | :--- | :--- | :--- | | Net Loss (in millions) | ($32.0M) | ($20.1M) | ($52.7M) | ($37.2M) | | EPS (basic & diluted) | ($0.31) | ($0.20) | ($0.51) | ($0.37) | Adjusted EBITDA and Adjusted EPS (Non-GAAP) | Metric | Q2 2025 | Q2 2024 | H1 2025 | H1 2024 | | :--- | :--- | :--- | :--- | :--- | | Adjusted EBITDA Loss (in millions) | ($24.5M) | ($14.7M) | ($39.9M) | ($24.9M) | | Adjusted EPS Loss | ($0.26) | ($0.18) | ($0.45) | ($0.31) | [Cash and Liquidity](index=4&type=section&id=Cash%20and%20Liquidity) As of June 30, 2025, cash, cash equivalents, and marketable securities totaled **$25.3 million**, with no cash debt - As of June 30, 2025, cash, cash equivalents, and marketable securities totaled **$25.3 million**. The company had no cash debt[26](index=26&type=chunk) [Other Corporate Developments](index=5&type=section&id=Other%20Corporate%20Developments) Blink appointed new executives, pursued UK expansion with a **£100 million** SPV, launched a North American pilot, and secured a UK charging station contract - **Executive Appointments**: Michael Bercovich was named CFO, and Alex Calnan was named Managing Director of Europe[29](index=29&type=chunk) - **UK Expansion**: Entered a non-binding term sheet with Axxeltrova Capital for a proposed **£100 million** Special Purpose Vehicle (SPV) to support EV charging development in the UK[29](index=29&type=chunk) - **Strategic Collaboration**: Teamed with WirelessCar and ChargeHub for a 'Seamless Charging' pilot program in the U.S. and Canada[29](index=29&type=chunk) - **New Contract**: Blink UK executed a contract with North Hertfordshire Council to install and operate **18** new EV charging stations[29](index=29&type=chunk) [Financial Statements](index=6&type=section&id=Financial%20Statements) This section provides unaudited condensed consolidated financial statements for Blink Charging Co., including Statements of Operations, Balance Sheets, and Cash Flows [Condensed Consolidated Statements of Operations](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Q2 2025 total revenues were **$28.7 million** with a net loss of **$32.0 million**, compared to **$33.3 million** revenue and **$20.1 million** net loss in Q2 2024 Q2 2025 Statement of Operations Highlights (in thousands) | Metric | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | Total Revenues | $28,667 | $33,262 | | Gross Profit | $2,094 | $10,713 | | Loss From Operations | ($32,209) | ($20,649) | | Net Loss | ($31,959) | ($20,059) | | Net Loss Per Share | ($0.31) | ($0.20) | [Condensed Consolidated Balance Sheets](index=8&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2025, total assets were **$168.4 million**, total liabilities **$97.7 million**, and stockholders' equity **$70.8 million** Balance Sheet Highlights (in thousands) | Metric | June 30, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $25,318 | $41,774 | | Total Current Assets | $98,500 | $141,152 | | Total Assets | $168,422 | $217,988 | | Total Current Liabilities | $58,009 | $59,244 | | Total Liabilities | $97,670 | $99,286 | | Total Stockholders' Equity | $70,752 | $118,702 | [Consolidated Statements of Cash Flows](index=9&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) H1 2025 saw **$28.5 million** net cash used in operations, **$10.1 million** provided by investing, and a **$16.5 million** net decrease in cash Six-Month Cash Flow Summary (in thousands) | Cash Flow Activity | H1 2025 | H1 2024 | | :--- | :--- | :--- | | Net Cash Used In Operating Activities | ($28,524) | ($25,735) | | Net Cash Provided By (Used In) Investing Activities | $10,106 | ($3,873) | | Net Cash Provided By (Used In) Financing Activities | $874 | ($13,472) | | **Net Decrease In Cash** | **($16,450)** | **($42,944)** | [Non-GAAP Financial Measures Reconciliation](index=11&type=section&id=Non-GAAP%20Financial%20Measures%20Reconciliation) This section reconciles GAAP net loss to Adjusted EBITDA and GAAP EPS to Adjusted EPS, showing a Q2 2025 Adjusted EBITDA loss of **$24.4 million** Reconciliation of Net Loss to Adjusted EBITDA (in thousands) | Metric | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | Net Loss | ($31,959) | ($20,059) | | Adjustments (D&A, Stock Comp, etc.) | $7,511 | $5,351 | | **Adjusted EBITDA** | **($24,448)** | **($14,708)** | Reconciliation of Net Income per Share to Adjusted EPS | Metric | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | Net Income - per diluted share (GAAP) | ($0.31) | ($0.20) | | Per diluted share adjustments | $0.05 | $0.02 | | **Adjusted EPS (Non-GAAP)** | **($0.26)** | **($0.18)** |

Core Insights - Blink Charging Co. reported a quarterly loss of 26 cents per share, missing the consensus estimate of 18 cents [1] - Quarterly revenue reached $28.66 million, exceeding the Street estimate of $22.11 million [1] Financial Performance - The company achieved consolidated revenues of $28.7 million, reflecting a sequential growth of 38% compared to the first quarter of 2025 [2] - Product sales increased by 73% sequentially, while service revenues saw an 11% sequential increase [2] - Service revenues grew 46% year-over-year to $11.8 million [5] - The company incurred approximately $16.5 million in largely one-time, non-cash charges during the quarter [5] - Compensation expenses were reduced by 22% year-over-year, resulting in $8 million in annualized expense savings through efficiencies [5] Future Outlook - Blink expects to achieve continued sequential revenue growth in the second half of 2025 based on current visibility [3]

Core Insights - Blink Charging Co. reported a total revenue of $28.7 million for Q2 2025, reflecting a 38% sequential growth compared to Q1 2025, but a 13.8% decline year-over-year from Q2 2024 [3][11][19] - The company experienced a significant sequential increase in product revenues by 73.1% to $14.5 million, while service revenues grew by 11.1% sequentially to $11.8 million, marking a 46.1% increase year-over-year [3][12][13] - Blink incurred approximately $16.5 million in largely one-time, non-cash charges during the quarter, but managed to reduce ongoing annual operating expenses by about $8 million [3][6][19] Financial Performance - Total revenues for the first six months of 2025 were reported at $49.4 million, down from $70.8 million in the same period of 2024 [11] - Gross profit for Q2 2025 was $2.1 million, representing 7% of revenues, a significant decrease from 32% in Q2 2024, primarily due to a $6.4 million non-cash inventory adjustment [16][19] - Operating expenses increased to $34.3 million in Q2 2025 from $31.4 million in Q2 2024, with approximately $10.1 million attributed to one-time, non-cash charges [17][18] Acquisition and Strategic Developments - Blink announced the acquisition of Zemetric, Inc., enhancing its portfolio with tailored charging solutions for fleets and commercial applications [4][5] - The acquisition is expected to improve Blink's technological capabilities and product offerings, particularly in intelligent and flexible L2 charging products [5][6] Business Outlook - The company anticipates continued sequential revenue growth in the second half of 2025, driven by expanding installed charger base and increased utilization [9][10] - Blink aims to enhance operational efficiency through disciplined expense management and targeted initiatives to lower operating costs and reduce cash burn [10][19] Shareholder Agreements - Blink reached an agreement with former shareholders of Envoy Technologies to release the company from payment obligations in exchange for stock and performance-based warrants valued at $11 million [7][8][15]