Core Insights - Despite a significant decline in US electric vehicle (EV) sales, the demand for public charging infrastructure remains strong, with companies like ChargePoint Holdings Inc. reporting a 7% increase in sales in Q4 2025 [1][2] - The cumulative number of EVs on the road, currently around 5.8 million, is a key driver for the charging business, as more drivers rely on public charging stations [2] Company Developments - ChargePoint Holdings Inc. has seen a sales increase despite a nearly 40% drop in new EV sales compared to the previous year [1] - EVgo Inc. plans to expand its network by adding up to 1,650 new charging slots in the US this year, representing a 38% increase from last year [4] - The average US charging station is experiencing high utilization rates, with EVgo's network doubling the number of charging cords over the past three years [5] Market Trends - The US added approximately 11,300 ultra-fast charging cords last year, a 48% increase from 2024, with nearly 25% of new chargers capable of delivering 250 kilowatts or more [4] - Analysts suggest that despite declining EV sales, the charging infrastructure can still improve, as there are currently more EVs than fast charging stations available [8] - The used EV market is growing, attracting cost-conscious consumers who may not have access to private charging facilities, while rideshare and autonomous taxi fleets continue to electrify [10] Future Outlook - Analysts predict that the charging infrastructure will continue to grow, although the utilization rates may not decrease immediately [7] - Companies are planning for long-term growth, with a focus on infrastructure development aimed at 2035 rather than just the next few years [11]

Core Insights - Milepost AB, Sweden's first independent EV-charging operator, is expanding its services in Norrköping in collaboration with the local municipality [1][2] - The deployment of EV-charging stations is in response to new legislation effective from 2025, mandating charging stations in heated buildings with over 20 parking spaces [3] - Milepost's services are now available in 38 municipalities across Sweden, indicating significant growth and market penetration [3] Company Overview - Milepost develops and operates EV-charging solutions in partnership with municipalities and property owners, facilitating charging access where people live, work, or visit [5] - The company is supported by Obligo Investment Management and its management team, highlighting a strong backing for its operations [5] Project Details - The first charging station in Norrköping has been put into operation, with additional sites planned for establishment throughout 2026 [2] - The collaboration between Milepost and Norrköping Municipality is aimed at accelerating the rollout of charging stations in key locations [4]

Financial Data and Key Metrics Changes - Total revenue for Q3 2025 was $92 million, representing a 37% year-over-year increase [22] - Adjusted EBITDA was negative $5 million, an improvement of $4 million compared to Q3 2024 [23] - Charging network gross margin increased to 35%, up one percentage point from the previous year [22] Business Line Data and Key Metrics Changes - Charging network revenues reached $56 million, a 33% increase year-over-year [22] - eXtend revenues were $32 million, delivering growth of 46% [22] - Insular revenues were approximately $5 million, up 27% [22] Market Data and Key Metrics Changes - The total energy dispensed on EVgo's network grew to 350 gigawatt-hours over the trailing 12 months, a 13-fold increase since 2021 [20] - The number of stalls in operation increased to 4,590, a 2.7 times increase compared to the end of 2021 [20] Company Strategy and Development Direction - EVgo aims to achieve adjusted EBITDA break-even in Q4 2025, marking a significant milestone for the company [28] - The company is focused on expanding its charging network, with plans to deploy up to 5,000 stalls annually by 2029 without needing additional equity capital [19] - EVgo is enhancing its next-generation charging architecture to improve customer experience and reduce capital expenditures per stall by over 25% by 2029 [15][16] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth of EV sales, noting that the number of battery electric vehicle models has increased significantly [30] - The company anticipates continued strong demand for its charging services, driven by the increasing number of EVs on the road and the expansion of affordable vehicles [6][7] - Management acknowledged potential challenges in EV demand forecasts but remains confident in the long-term growth trajectory [30] Other Important Information - EVgo has received $41 million from the DOE loan to accelerate the nationwide build-out of EV charging infrastructure [4] - The company has made significant progress in reducing net capital expenditures per stall, now expected to be $75,000 for 2025 vintage [16] Q&A Session Summary Question: EV demand outlook and its impact on development - Management noted that EV sales forecasts can fluctuate but expects higher sales than current forecasts due to improved vehicle affordability and performance [30] Question: Tesla charging on EVgo network - Early data shows increased usage of Tesla vehicles at EVgo stations with the installation of NACS cables, but quantification is still in progress [32] Question: Guidance for stall deployment in 2026 - Management indicated that the guidance for public and dedicated stalls in 2026 remains at 1,350-1,500, with a focus on generating strong returns on capital [35] Question: Impact of contract closeout on revenue - The contract closeout will not affect the prior range of expectations for public and dedicated build targets [56] Question: Charging network gross margin expansion - Management expects continued expansion of charging network gross margin driven by increased usage per stall and fixed cost leverage [59]

As filed with the Securities and Exchange Commission on November 7, 2025 Registration No. 333-290989 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 1 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 BLINK CHARGING CO. (Exact name of registrant as specified in its charter) (State or other jurisdiction of Nevada 3790 03-0608147 Michael C. Battaglia President and Chief Executive Officer Blink Charging Co. 5081 Howerton Way, Suite A Bowie, Maryland 20715 ...

Financial Data and Key Metrics Changes - Second quarter revenue was $99 million, landing at the top of the guidance range, with a non-GAAP gross margin of 33%, the highest since becoming a public company [5][17] - Cash management was strong, ending the quarter with $195 million, only $2 million below the previous quarter, reflecting structural OpEx changes [6][19] - Non-GAAP adjusted EBITDA loss was $22 million, an improvement from a loss of $23 million in the prior quarter and a loss of $34 million in the same quarter last year [18] Business Line Data and Key Metrics Changes - Network charging systems generated $50 million, accounting for 51% of total revenue, while subscription revenue was $40 million, representing 40% of total revenue, up 10% year on year [15][16] - Hardware gross margin increased by 1% sequentially despite higher tariffs, while subscription margin reached a record high of 61% on a GAAP basis [17][18] Market Data and Key Metrics Changes - In the U.S., passenger EV sales growth slowed to a 3% year-over-year increase, with concerns over the expiration of EV tax credits impacting future adoption [7][12] - European EV sales saw a 26% year-over-year increase in the first half of the year, indicating strong future charging demand [12] Company Strategy and Development Direction - The company is focusing on product innovation and commercialization to drive durable revenue growth, pushing out the EBITDA breakeven target to ensure funding for these efforts [8][20] - A strategic partnership with Eaton is being operationalized to accelerate the deployment of electric vehicle charging infrastructure across North America and Europe [9][10] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about the macro conditions in Europe compared to North America, anticipating growth driven by new products and a more favorable environment [25][26] - The company believes ongoing demand for EVs will persist despite current market challenges, with expectations of record EV sales in North America due to upcoming tax credit expirations [34][36] Other Important Information - The company is managing operating expenses closely, with a slight increase due to temporary R&D spending related to new product development [18] - The inventory balance remained flat at $212 million, with plans for gradual reduction to free up cash [19] Q&A Session Summary Question: Trajectory of OpEx - Management indicated that OpEx is slightly higher due to R&D investments, expecting it to persist in the next quarter but to decrease gradually thereafter [22][23] Question: Growth Opportunities in Europe - Management noted that the macro conditions in Europe are better, with new products targeted at the market expected to drive growth [25][26] Question: Customer Project Plans in North America - Management confirmed that while projects are delayed, there have been no cancellations, and clarity is expected post-tax credit expiration [40][41] Question: Gross Margin Improvement - Management highlighted that hardware margins improved due to lower costs from Asia and efficiencies in warranty costs [44][45] Question: Competitive Landscape and Software - Management emphasized the strength of their software platform and the value created by integrating software with hardware [48][50] Question: Inventory Management - Management stated that inventory is being managed based on new product releases, with no current shortages anticipated [56][62] Question: Cash Usage and Future Projections - Management expects to continue reducing cash usage and anticipates potential cash generation before achieving EBITDA profitability [61][62] Question: Industry Consolidation - Management noted that consolidation is typical after a hype cycle, with many companies facing economic challenges [88][89]

Core Insights - Tritium has launched the TRI-FLEX charging platform, which features a next-generation distributed architecture that allows charge point operators to scale from four to 64 charge points, addressing infrastructure challenges as the EV market grows [1][2] Industry Impact - The TRI-FLEX platform represents a paradigm shift in EV charging infrastructure, designed to meet the increasing demand as global EV sales approach 20% of total car sales and the U.S. EV fleet is projected to reach 27 million by 2030 [2] - Conventional charging infrastructure faces limitations in scalability, grid capacity, and flexibility, which TRI-FLEX aims to overcome through innovative design [2] Economic Benefits - The TRI-FLEX design significantly reduces the total cost of ownership compared to conventional architectures, allowing operators to avoid costly utility upgrades while maximizing charging capacity [3] Deployment and Flexibility - TRI-FLEX enables phased deployment strategies that align capital expenditure with actual utilization, simplifying permitting processes and maximizing return on investment [4] - The platform allows operators to start with current needs and scale seamlessly as demand increases without replacing initial investments [4] Technical Specifications - The TRI-FLEX Hub can provide power from 400kW to 1.6MW of AC power and up to 3.2MW of DC power, with a single Hub capable of powering two to 32 dispensers, significantly more than conventional systems [7] - The system features a 25kW power resolution with real-time load balancing for optimal energy distribution, and it is designed to perform reliably in extreme temperatures from -35°C to +55°C [7]

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]

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]

Table of Contents As filed with the Securities and Exchange Commission on May 22, 2023 Registration No. 333-271536 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 AMENDMENT NO. 2 TO FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 NaaS Technology Inc. (Exact name of Registrant as specified in its charter) Not Applicable (Translation of Registrant's name into English) (State or other jurisdiction of incorporation or organization) Cayman Islands 5990 Not Applicable (Primary Standard ...