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]

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 ...

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]

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 ...