Blink Charging (BLNK) Q1 2025 Earnings Call May 12, 2025 04:30 PM ET Company Participants Vitalie Stelea - VP - Capital Markets and FP&AMike Battaglia - President & CEOMichael Rama - CFO Conference Call Participants Craig Irwin - Managing Director, Senior Research AnalystSameer Joshi - Senior Equity Research Analyst Operator Greetings. Welcome to the Blink Charge and Company's First Quarter twenty twenty five Earnings Call. At this time, all participants are in a listen only mode. A question and answer sess ...

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]

HAMBURG, Germany, April 23, 2025 (GLOBE NEWSWIRE) -- XCHG Limited (“XCharge” or the “Company”), (NASDAQ: XCH), a global leader in integrated EV charging solutions, today announced that it filed its annual report on Form 20-F for the fiscal year ended December 31, 2024 with the Securities and Exchange Commission (the "SEC") on April 23, 2025. The annual report, which contains the Company’s audited consolidated statements, can be accessed on the SEC's website at https://www.sec.gov and on XCharge's investor r ...