Blink Charging Reports Q1 2025 Financial Results

Blink Charging ( (BLNK) ) has released its Q1 earnings. Here is a breakdown of the information Blink Charging presented to its investors.

Blink Charging Co., a prominent player in the electric vehicle (EV) charging sector, specializes in providing and manufacturing EV charging equipment and services globally, leveraging advanced solutions to support the transition to electric transportation. In its first quarter of 2025 earnings report, Blink Charging reported total revenues of $20.8 million, a significant decline from the previous year’s $37.6 million, primarily due to a steep 69.5% drop in product sales. However, service revenues showed a robust growth of 29.2%, reaching $10.6 million, driven by increased utilization of Blink chargers and expansion of their network. The company also highlighted a gross margin of 35.5% and a reduction in operating expenses by 7.9% compared to the same period last year.

Despite the overall revenue decline, Blink Charging made strategic advancements, including the addition of 319 Blink-owned chargers to its network and the launch of a new energy storage solution in collaboration with Create Energy. This innovative offering aims to enhance grid resiliency and reduce the total cost of ownership for customers, reinforcing Blink’s commitment to expanding its market presence in advanced energy management solutions. The company also secured significant contracts, such as the 15-year agreement with Brighton & Hove in the UK and new installations in Alameda, California, and Mexico.

Financially, Blink Charging faced a net loss of $20.7 million, or $0.20 per share, compared to a loss of $17.2 million, or $0.17 per share, in the first quarter of 2024. The adjusted EBITDA loss widened to $15.5 million from $10.2 million in the previous year. Despite these challenges, the company remains optimistic about future growth, expecting sequential revenue increases in the second quarter and throughout the rest of 2025, with a continued focus on reducing operating expenses and moving towards profitability.

Looking ahead, Blink Charging’s management is confident in the essential growth of the EV charging infrastructure globally and anticipates improved order activity and revenue growth in the upcoming quarters. The company is committed to enhancing its offerings and expanding its market reach, positioning itself to capitalize on the increasing demand for EV charging solutions.