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Blink Charging (BLNK) Reports Q1 Earnings: What Key Metrics Have to Say
ZACKS· 2025-05-12 23:30
For the quarter ended March 2025, Blink Charging (BLNK) reported revenue of $20.75 million, down 44.8% over the same period last year. EPS came in at -$0.18, compared to -$0.13 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $27.01 million, representing a surprise of -23.17%. The company delivered an EPS surprise of -28.57%, with the consensus EPS estimate being -$0.14.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- ...
Blink Charging (BLNK) Reports Q1 Loss, Lags Revenue Estimates
ZACKS· 2025-05-12 23:01
Company Performance - Blink Charging reported a quarterly loss of $0.18 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.14, and compared to a loss of $0.13 per share a year ago, indicating an earnings surprise of -28.57% [1] - The company posted revenues of $20.75 million for the quarter ended March 2025, missing the Zacks Consensus Estimate by 23.17%, and down from $37.57 million in the same quarter last year [2] - Over the last four quarters, Blink Charging has surpassed consensus EPS estimates only two times and has not beaten consensus revenue estimates [2] Stock Performance - Blink Charging shares have declined approximately 39.7% since the beginning of the year, contrasting with the S&P 500's decline of -3.8% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.12 on revenues of $30.22 million, and for the current fiscal year, it is -$0.48 on revenues of $130.77 million [7] Industry Outlook - The Zacks Industry Rank for Electronics - Miscellaneous Services, which includes Blink Charging, is currently in the top 8% of over 250 Zacks industries, suggesting a favorable industry outlook [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact Blink Charging's stock performance [5]
Blink(BLNK) - 2025 Q1 - Earnings Call Transcript
2025-05-12 21:30
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]
Blink(BLNK) - 2025 Q1 - Quarterly Report
2025-05-12 21:15
Financial Performance - The company incurred a net loss of $20,707 during the three months ended March 31, 2025, and has not yet achieved profitability [117]. - Total revenue for Q1 2025 decreased by $16,814 or 45%, to $20,754 compared to $37,568 in Q1 2024 [127]. - Revenue from product sales was $8,381 in Q1 2025, a decrease of $19,127 or 70% from $27,508 in Q1 2024, attributed to decreased unit sales and product mix [128]. - Charging service revenue increased by $1,753 or 35% to $6,780 in Q1 2025, driven by higher utilization of chargers and an increased number of chargers on the network [129]. - Network fee revenues rose by $561 or 27% to $2,626 in Q1 2025, due to an increase in host-owned units [130]. - Gross profit for Q1 2025 was $7,369, down $6,050 or 45% from $13,419 in Q1 2024 [135]. - Net loss increased by $3,534 or 21% to $20,707 in Q1 2025 compared to $17,173 in Q1 2024, primarily due to decreased gross profit [150]. Cash and Working Capital - Blink's cash and cash equivalents stood at $42,024, with working capital of $65,720 and an accumulated deficit of $756,562 as of March 31, 2025 [117]. - Cash and cash equivalents as of March 31, 2025, were $42,024, up from $41,774 as of December 31, 2024 [152]. - Working capital decreased to $65,720 as of March 31, 2025, from $81,908 as of December 31, 2024 [152]. - The company used cash of $11,855 in operations for Q1 2025, down from $21,476 in Q1 2024, primarily due to the net loss adjusted for non-cash expenses [153]. - For the three months ended March 31, 2025, the company reported a net loss of $20,707 and used $11,855 of cash in operating activities, indicating ongoing cash outflows and lack of profitability [156]. - The company expects to continue incurring cash outflows from operations, with future operating needs including costs to fund working capital and capital expenditures [156]. Business Operations and Strategy - Blink plans to expand its operations through strategic domestic and international acquisitions, although risks include integration difficulties and market conditions [125]. - The Blink Networks provide cloud-based services for remote monitoring and management of EV charging stations, enhancing operational efficiency [112]. - Blink offers a variety of EV charging products, including Level 2 chargers and DC Fast Charging equipment ranging from 30kW to 360kW [121]. - The company has deployed, contracted, or sold a total of 112,186 units of EV chargers, including public and private chargers [116]. - Blink's business models include turnkey, hybrid, and host-owned models, each with different revenue-sharing structures with Property Partners [115]. - The EV charging equipment and service market is highly competitive, with increasing competition expected as new entrants join the market [122]. Financing Activities - During the three months ended March 31, 2025, cash provided by financing activities was $883, primarily from the sale of common stock, while cash used in financing activities for the same period in 2024 was $6,703 [155]. - The company sold 681,330 shares of common stock under an "at-the-market" equity offering program for gross proceeds of $909 during the three months ended March 31, 2025 [157]. - The company has operating and finance lease obligations of approximately $10,071 over the next five years, primarily related to corporate office space and car-sharing services [160]. Going Concern and Future Outlook - The company is undertaking initiatives to mitigate substantial doubt about its ability to continue as a going concern, including engaging with third parties to raise capital and optimizing products and services [158]. - Management believes that the initiatives being implemented will be sufficient to mitigate the circumstances resulting in substantial doubt for at least one year from the date the financial statements are issued [159]. - The company has not yet achieved profitability and there is no assurance that it will be able to obtain funds on commercially acceptable terms in the future [157]. Currency and Market Risks - A hypothetical 1% decrease in all foreign currencies against the U.S. dollar would not result in a material foreign currency loss on foreign-denominated balances as of March 31, 2025 [165].
Blink(BLNK) - 2025 Q1 - Earnings Call Presentation
2025-05-12 20:38
2 3 3 * - All comparisons are Q1 -2025 year -over -year, unless otherwise noted 4 4 341% 29.2% $8.2 $8.0 $8.8 $9.8 $- $2.0 $4.0 $6.0 $8.0 $10.0 $12.0 $ in millions 1Q24 2Q24 3Q24 4Q24 1Q25 5 22% 7,091 $10.6 * Excludes financing activities **Total Operating Expenses adjusted for non -cash items such impairment of goodwill, impairment of intangible assets, and change in fair value of consideration payable 6 6 7 Futura Std Book (bold) | ($ in OOOs) | ા Q25 | 1 Q24 | YoY | | --- | --- | --- | --- | | | | | Chan ...
Blink(BLNK) - 2025 Q1 - Quarterly Results
2025-05-12 20:15
Exhibit 99.1 BLINK CHARGING ANNOUNCES FIRST QUARTER 2025 RESULTS Bowie, MD (May 12, 2025) – Blink Charging Co. (NASDAQ: BLNK) ("Blink"), a leading global owner, operator, provider, and manufacturer of electric vehicle (EV) charging equipment and services, today announced financial results for the first quarter ended March 31, 2025. The following top-line highlights are in thousands of dollars and preliminary. | | Three Months Ended | | | | | | --- | --- | --- | --- | --- | --- | | | March 31, | | | | | | | ...
BLINK CHARGING ANNOUNCES FIRST QUARTER 2025 RESULTS
GlobeNewswire· 2025-05-12 20:02
First quarter 2025 total revenues of $20.8 millionFirst quarter 2025 service revenues grew 29.2% to $10.6 million compared to $8.2 million in first quarter of 2024Gross margin of 35.5% in the first quarter of 2025During the first quarter the Company added 319 Blink-owned chargers to its networkSubsequent to quarter end, Blink and Create Energy launched turnkey energy storage solution for on-demand grid resiliency Bowie, MD, May 12, 2025 (GLOBE NEWSWIRE) -- Blink Charging Co. (NASDAQ: BLNK) (“Blink”), a lead ...
Blink Charging (BLNK) Increases Despite Market Slip: Here's What You Need to Know
ZACKS· 2025-05-06 23:15
Company Performance - Blink Charging (BLNK) closed at $0.73, reflecting a +1.99% increase compared to the previous day, outperforming the S&P 500 which fell by 0.77% [1] - Over the past month, Blink Charging's shares have decreased by 13.9%, underperforming the Computer and Technology sector's gain of 16.73% and the S&P 500's gain of 11.54% [1] Upcoming Earnings - The upcoming earnings report for Blink Charging is scheduled for May 12, 2025, with an expected EPS of -$0.14, indicating a 7.69% decline from the same quarter last year [2] - Revenue is projected at $27.01 million, representing a 28.1% decrease compared to the same quarter last year [2] Full Year Estimates - For the full year, analysts expect earnings of -$0.48 per share and revenue of $130.77 million, which would reflect changes of +21.31% and +3.62% respectively from the previous year [3] Analyst Estimates - Recent changes to analyst estimates for Blink Charging are important as they reflect the shifting dynamics of short-term business patterns, with positive revisions indicating analysts' confidence in the company's performance [4] - The Zacks Rank system, which includes estimate changes, provides a rating system that has shown a strong track record of outperformance [5][6] Industry Context - Blink Charging operates within the Electronics - Miscellaneous Services industry, which is part of the Computer and Technology sector, holding a Zacks Industry Rank of 21, placing it in the top 9% of over 250 industries [7]
Blink Charging (BLNK) Stock Drops Despite Market Gains: Important Facts to Note
ZACKS· 2025-04-30 23:20
The most recent trading session ended with Blink Charging (BLNK) standing at $0.73, reflecting a -1.8% shift from the previouse trading day's closing. This change lagged the S&P 500's 0.15% gain on the day. At the same time, the Dow added 0.35%, and the tech-heavy Nasdaq lost 0.09%.Shares of the company witnessed a loss of 20.8% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 1.15% and the S&P 500's loss of 0.21%.The investment community will be close ...
Blink Charging to Host First Quarter Conference Call on Monday, May 12, 2025
GlobeNewswire· 2025-04-30 14:30
Bowie, MD, April 30, 2025 (GLOBE NEWSWIRE) -- Blink Charging Co. (NASDAQ: BLNK) (“Blink” or the “Company”), a leading global manufacturer, owner, operator, and provider of electric vehicle (EV) charging equipment and services, will announce its first quarter results on Monday, May 12, 2025, following the close of the financial markets. The Company will host a conference call and webcast that day at 4:30 p.m. Eastern Time to discuss the Company’s results for the first quarter ended March 31, 2025. To access ...