Blink(US:BLNK)2025-05-12 20:15Financial Performance - Total revenues for Q1 2025 were $20.8 million, a decrease of 44.8% compared to $37.6 million in Q1 2024[11] - Product sales dropped 69.5% to $8.4 million in Q1 2025 from $27.5 million in Q1 2024[12] - Service revenues increased by 29.2% to $10.6 million in Q1 2025, up from $8.2 million in Q1 2024[13] - Net loss for Q1 2025 was $20.7 million, or $0.20 per share, compared to a net loss of $17.2 million, or $0.17 per share in Q1 2024[17] - Adjusted EBITDA loss for Q1 2025 was $15.5 million, worsening from a loss of $10.2 million in Q1 2024[18] - Adjusted EBITDA for the three months ended March 31, 2025, was $(15,489) million, compared to $(10,180) million for the same period in 2024, reflecting a deterioration of about 52.5%[37] Expenses and Margins - Gross margin for Q1 2025 was 35.5%, slightly down from 35.7% in Q1 2024[15] - Operating expenses decreased by 7.9% to $28.4 million in Q1 2025 compared to $30.9 million in Q1 2024[16] Cash and Assets - Cash, cash equivalents, and marketable securities totaled $42.0 million as of March 31, 2025, down from $55 million at the end of 2024[22] - Total assets decreased from $217,988 million as of December 31, 2024, to $199,078 million as of March 31, 2025, representing a decline of approximately 8.7%[31] - Cash and cash equivalents increased slightly from $41,774 million as of December 31, 2024, to $42,024 million as of March 31, 2025, showing a growth of approximately 0.6%[31] - Total stockholders' equity decreased from $118,702 million as of December 31, 2024, to $102,603 million as of March 31, 2025, a decline of approximately 13.6%[31] - The company’s cash and cash equivalents and restricted cash at the end of the period totaled $42,101 million, down from $73,224 million at the end of the same period in 2024, a decrease of approximately 42.5%[34] Liabilities and Cash Flow - Total current liabilities decreased from $59,244 million as of December 31, 2024, to $57,356 million as of March 31, 2025, a reduction of approximately 3.2%[31] - The company reported a net cash used in operating activities of $11,855 million for the three months ended March 31, 2025, an improvement from $21,476 million for the same period in 2024, indicating a reduction in cash outflow of about 44.8%[34] - Proceeds from the sale of marketable securities amounted to $13,630 million for the three months ended March 31, 2025, compared to $3,000 million for the same period in 2024, representing an increase of approximately 354.3%[34] Future Outlook - Blink added 319 Blink-owned chargers to its network during Q1 2025[8] - The company expects sequential revenue growth in Q2 2025 and continued growth throughout the second half of 2025[9] - The company anticipates achieving its 2024 revenue and gross margin targets, along with projected adjusted EBITDA run rate and timeline[43]