Core Insights - Wallbox has expanded its partnership with Codale Electric Supply to enhance EV charging infrastructure across the Mountain West region, including Utah, Idaho, Wyoming, and Nevada [1][4] - Codale has become a key distribution partner for Wallbox, providing technical support and logistics to contractors, developers, and fleet operators [2][3] - The partnership aims to prioritize the deployment of Wallbox Supernova DC fast chargers and Pulsar family AC chargers, with ongoing projects already in place [3][4] Company Overview - Wallbox is a global provider of electric vehicle charging and energy management solutions, founded in 2015 and headquartered in Barcelona, operating in over 100 countries [6] - The company focuses on creating advanced charging systems that allow users to control their energy consumption and promote sustainable living [6] Partnership Dynamics - The collaboration between Wallbox and Codale is designed to streamline installation processes and enhance network reliability, supporting the transition to cleaner mobility in the region [4][5] - Both companies emphasize the importance of delivering complete, future-proof charging solutions rather than merely distributing hardware [5]

Bowie, MD., Nov. 17, 2025 (GLOBE NEWSWIRE) -- Blink Charging Co. (NASDAQ: BLNK) (“Blink” or the “Company”), a leading global owner, operator, and provider of electric vehicle (EV) charging equipment and services, today announced it has been awarded a Sourcewell contract for electric vehicle (EV) charging equipment and related services. The competitively solicited contract is effective through September 18, 2029, and may be extended for up to three additional one-year periods. This contract enables more than ...

Core Insights - TurnOnGreen, Inc. has established a strategic partnership with Kinseth Hospitality Companies to implement electric vehicle (EV) charging infrastructure across Kinseth's properties, aiming to enhance guest convenience and support sustainability goals [1][4] Group 1: Partnership Details - The collaboration will standardize charging hardware, software, and services across Kinseth's portfolio, focusing on improving access to reliable EV charging in the Midwest [1] - TurnOnGreen will provide a comprehensive program that includes site assessment, design, engineering, commissioning, networking, and 24/7 support for drivers and site hosts [3] - Initial efforts will prioritize upgrading existing infrastructure with high-powered Level 2 chargers (7–19 kW) for overnight guests, with plans for additional Level 2 charging infrastructure and evaluation of DC fast-charging options for highway-adjacent hotels [3] Group 2: Company Background - Kinseth Hospitality is a prominent hotel management and development company, managing over 130 hotels across 17 states, known for its diverse offerings including full-service and boutique hotels [5] - TurnOnGreen specializes in high-performance power solutions for various industries, including e-Mobility, with over 50 years of experience in delivering innovative and reliable power technologies [6][7]

Core Viewpoint - XCharge North America and Ascentium Capital have launched a pioneering initiative aimed at accelerating the development of EV charging infrastructure in the U.S. [1] Company Summary - XCharge North America is a subsidiary of XCHG Limited, listed on NASDAQ under the ticker XCH, and focuses on high-power EV charging and battery-integrated solutions [1] - Ascentium Capital, a division of Regions Bank, specializes in financing solutions for small business equipment [1] Industry Summary - The initiative is designed to enhance the EV charging infrastructure, which is critical for the growth of electric vehicle adoption in the U.S. [1]

Core Insights - Orion Energy Systems, Inc. supports the recent federal guidance directing $5 billion in public funds to enhance EV charging infrastructure, aligning with the quality standards already established by its Voltrek division [1][2] - The federal directive emphasizes state-level decision-making, presenting a significant market opportunity for Orion/Voltrek as 84% of the NEVI funding remains unallocated [2] Company Overview - Orion Energy Systems specializes in energy-efficient solutions, including LED lighting, EV charging stations, and maintenance services, focusing on large national customers and projects through ESCO and distribution partners [3] - The company is committed to helping customers achieve business and environmental goals while reducing carbon footprints and enhancing performance [3] Recent Developments - Orion/Voltrek is actively involved in the deployment and maintenance of EV charging stations, including a project with Boston Public Schools to electrify 100% of its 750 school buses [2]

Core Insights - China is set to build 100,000 ultra-fast public EV chargers by 2027 to enhance access and reduce wait times for EV drivers [1][10] - The country aims to address existing issues in charging infrastructure, including slow speeds and limited public access [4][5] - The EV market in China is rapidly growing, with sales increasing nearly 40% in 2024, reaching over 11 million electric cars [3] Industry Developments - The National Development and Reform Commission (NDRC) is spearheading the initiative to improve charging infrastructure, focusing on busy highway stops and high-traffic areas [4][6] - As of September 2024, China had approximately 14.4 million EV chargers, with only 3.3 million being public chargers [5] - The new charging stations will utilize dynamic pricing and incorporate solar energy and battery storage for efficiency [6] Automaker Initiatives - BYD plans to deploy 15,000 "megawatt" chargers capable of adding 400 kilometers of range in just five minutes [9][10] - Zeekr aims to launch the world's first 1,200 kW charging station with liquid-cooled technology, expanding its network to over 10,000 stations by the end of next year [11] - Li Auto is scaling up its super-charging sites to 4,000 by the end of the year, focusing on major highway routes [12] Competitive Landscape - Tesla has introduced its next-gen V4 Superchargers in China, delivering up to 325 kW of power and compatible with multiple EV brands [13] - The competition among automakers is intensifying as they not only sell electric vehicles but also invest in the necessary charging infrastructure [14][15]

Financial Data and Key Metrics Changes - In Q1 2025, total revenues were $20.8 million, down from $37.6 million in Q1 2024 [17] - Product revenues decreased to $8.4 million from $27.5 million year-over-year [17] - Service revenues increased by 29.2% to $10.6 million compared to $8.2 million in the prior year [18] - Gross profit was $7.4 million, representing 35.5% of revenues, compared to 35.7% in the previous year [18] - Operating expenses decreased by 7.9% to $28.5 million from $30.9 million [18] - Loss per share improved to $0.20 from $0.17 year-over-year [18] - Adjusted EBITDA loss increased to $15.5 million from $10.2 million in the prior year [19] Business Line Data and Key Metrics Changes - Charging service revenue increased by 35% year-over-year, driven by higher utilization of deployed infrastructure [7] - Product sales were significantly down, indicating a gap in addressing value-oriented market segments [7] - The company closed the quarter with 7,091 company-owned chargers, a 22% increase year-over-year [12] - DC fast charging revenues in the U.S. increased over three times compared to the first quarter of last year [13] Market Data and Key Metrics Changes - EV sales in the U.S. grew by 11.4% in Q1 2025 compared to the prior year [10] - In Europe, EV sales increased by 24%, with significant gains reported in Germany, Belgium, and The Netherlands [11] - Charging revenue in Europe grew by 22%, reflecting an expanding footprint and strengthening market position [8] Company Strategy and Development Direction - The company is focused on deploying the right charging infrastructure at optimal locations [21] - A new Generation 3 charger is being developed to meet market demand, with plans to launch in Q4 2025 [7][22] - The strategic priorities include flexible customer-centric business models, expansion of DC fast charging, growth in recurring revenue, strategic positioning amid industry consolidation, and cost optimization [25][26][28][29] Management's Comments on Operating Environment and Future Outlook - The operating environment remains challenging due to macroeconomic pressures and shifts in customer behavior [7] - The company expects sequential revenue growth in Q2 2025 and continued growth in the second half of the year [19][20] - Management remains focused on reducing operating expenses and cash burn while driving towards profitability [16][20] Other Important Information - The company is actively pursuing opportunities to grow its DC fast charging portfolio [13] - Blink has been named a preferred bidder for a contract in the UK, valued at over £500,000 [14] - The company is consolidating its European software networks into a global platform for operational efficiencies [15] Q&A Session Summary Question: About gross margins and their improvement - Management noted that a larger mix of Level 2 chargers helped margins and expects consistency in the mid-30s range for gross margins throughout the year [33][35] Question: On new value-oriented products and market approach - The company is focused on building its own chargers to maintain quality and reliability, with expanded production capabilities in India and Maryland [39][40] Question: Regarding expenses related to business spin-offs - Management confirmed ongoing restructuring efforts and cost controls, with a focus on reducing compensation expenses and consolidating facilities [48][49] Question: Aspirational service margin targets - Management aims for mid-20s service margins in the future [52] Question: On market consolidation and acquisition targets - The company is considering tuck-in acquisitions to enhance growth and has specific companies in mind for potential acquisition [56][57]

Financial Data and Key Metrics Changes - Charging service revenue increased by 35% year over year, reaching a new record high [6][10] - Product sales for the quarter were $8,400,000, down sharply from $27,500,000 in Q1 2024 [16] - Total revenues for Q1 2025 were $20,800,000 compared to $37,600,000 in the prior year quarter [16] - Gross profit was $7,400,000, representing 35.5% of revenues, compared to $13,400,000 or 35.7% in Q1 2024 [17] - Operating expenses decreased by 7.9% to $28,500,000 from $30,900,000 in the prior year [17] - Loss per share was $0.20 compared to a loss of $0.17 in the prior year [17] - Adjusted EBITDA for Q1 2025 was a loss of $15,500,000 compared to a loss of $10,200,000 in the prior year [18] Business Line Data and Key Metrics Changes - Service revenue for the quarter was $10,600,000, an increase of 29.2% compared to $8,200,000 in Q1 2024 [10][17] - The company closed the quarter with 7,091 company-owned chargers, a 22% increase year over year [11] - DC fast charging revenues in the U.S. increased over three times compared to Q1 2024 [12] Market Data and Key Metrics Changes - EV sales in the U.S. grew by 11.4% in Q1 2025 compared to the prior year [8] - In Europe, EV sales increased by 24%, with significant gains in Germany, Belgium, and The Netherlands [9] Company Strategy and Development Direction - The company is focused on deploying the right charging infrastructure at optimal locations [21] - A new Generation three charger is being developed to address the value-oriented segment of the market [6][22] - The strategic priorities include flexible customer-centric business models, expansion of the DC fast charging portfolio, growth in recurring revenue, strategic positioning amid industry consolidation, and cost optimization [25][26][27][28] Management Comments on Operating Environment and Future Outlook - The operating environment remains challenging due to macroeconomic pressures and shifts in customer behavior [6] - The company expects revenue to increase sequentially in Q2 2025 and continued growth in the second half of 2025 [19][20] - Management remains focused on reducing operating expenses and cash burn while driving towards profitability [20] Other Important Information - The company is actively pursuing opportunities to grow its DC fast charging portfolio [12] - Blink has been named a preferred bidder for a contract valued at over 500,000 British pounds in the UK [13] - The company is consolidating its European software networks into a global network for operational efficiencies [14] Q&A Session Summary Question: Can you talk about gross margins and their potential for improvement? - Management noted that a larger mix of level two chargers helped margins and expects consistency in the mid-30s range for gross margins moving forward [31][34] Question: What considerations are taken into account for the new value-oriented products? - The company is focused on building its own chargers to maintain quality and reliability, with expanded production capabilities in India and Maryland [38][40] Question: Can you discuss the impact of restructuring and spin-off costs on expenses? - Management confirmed that they are continuously looking at expense profiles and expect savings from integrating acquisitions [44][48]