Blink(BLNK) - 2025 Q3 - Quarterly Results

Financial Performance - Total revenues for Q3 2025 were $27.0 million, a 7.3% year-over-year increase[5] - Service revenues grew 35.5% year-over-year to $11.9 million, driven by increased charger utilization[5] - Adjusted EBITDA for Q3 2025 was a loss of $(8.9) million, an improvement from a loss of $(14.0) million in Q3 2024[24] - Total revenues for the three months ended September 30, 2025, were $27,030 million, an increase from $25,187 million in the same period of 2024, representing a growth of 7.3%[32] - Charging service revenue increased to $7,758 million for the three months ended September 30, 2025, compared to $5,254 million in 2024, marking a growth of 47.6%[32] - For the three months ended September 30, 2025, Blink Charging reported a net loss of $86 million, compared to a net loss of $87.4 million for the same period in 2024[41] - Adjusted EBITDA for the three months ended September 30, 2025, was $(8.87) million, while for the same period in 2024, it was $(14.02) million, indicating an improvement[41] - Blink Charging's Adjusted EPS for the nine months ended September 30, 2025, was $(0.54), compared to $(0.47) for the same period in 2024[41] Cash Flow and Liquidity - Operating cash burn was reduced by 87% sequentially to $2.2 million[5] - Cash, cash equivalents, and marketable securities totaled $23.1 million as of September 30, 2025, down from $55.4 million at the end of 2024[28] - Cash and cash equivalents as of September 30, 2025, were $23,110 million, a decrease from $41,774 million at the end of 2024[35] - The company reported a total cash used in operating activities of $31,540 million for the nine months ended September 30, 2025, compared to $34,830 million in 2024[38] - The company generated $11,168 million in net cash from investing activities for the nine months ended September 30, 2025, compared to a cash outflow of $3,946 million in 2024[38] Expenses and Cost Management - Operating expenses decreased by 26% year-over-year and 15% sequentially, adjusted for non-recurring items[20] - The company eliminated approximately $13 million in annualized operating expenses as part of its BlinkForward strategy[11] - Gross margin improved to 35.8% in Q3 2025, compared to 36.2% in Q3 2024[17] - The company reported a depreciation and amortization expense of $2.56 million for the three months ended September 30, 2025, down from $2.99 million in 2024[41] - Blink Charging's total interest expense for the nine months ended September 30, 2025, was $28 million, a decrease from $475 million in the same period of 2024[41] Assets and Liabilities - Total assets decreased to $171,277 million as of September 30, 2025, from $217,988 million at the end of 2024, a decline of 21.5%[35] - Total liabilities decreased to $80,497 million as of September 30, 2025, from $99,286 million at the end of 2024, a reduction of 18.9%[35] - The company’s total stockholders' equity decreased to $90,780 million as of September 30, 2025, from $118,702 million at the end of 2024, a decline of 23.5%[35] Future Outlook - The company expects continued sequential revenue growth in the second half of 2025, with positive trends into Q4[12] - Blink Charging expects continued sequential revenue growth in the last quarter of 2025, with positive trends anticipated to continue into the fourth quarter[49] - Blink Charging's total revenue streams include both recurring and project-based revenues, with strong momentum expected[49] - Blink is transitioning to contract manufacturing to enhance operational efficiency and scalability[8] - The company has established strategic partnerships to enhance the adoption of its EV charging solutions across various locations[46]