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Blink Charging (BLNK)
:BLNK
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Blink Charging Co
(NASDAQ:BLNK)
54Neutral
Positive Factors
Cost Management
BLNK continues to make solid progress on the cost front.
Manufacturing Model
Blink's vertically integrated and in-house manufacturing model provides competitive advantages through improved margins and enhanced control over production processes.
Service Revenue
The company has shown significant growth in service revenues from Blink-owned and operated chargers, indicating a strong performance in this segment.
Negative Factors
Profitability Uncertainty
BLNK is no longer guiding to break-even adjusted EBITDA, indicating uncertainty in achieving profitability.
Regulatory Environment
Regulatory headwinds are likely flattening the EV adoption curve, adding uncertainty to growth projections.
Revenue Challenges
Revenues for the quarter decreased by 29.3% year-over-year, reflecting challenges in revenue generation.
Blink Charging Co (BLNK) vs. S&P 500 (SPY)
Market Cap
$94.69M
Dividend YieldN/A
Average Volume (3M)3.83M
Price to Earnings (P/E)―
Beta (1Y)2.24
Revenue Growth-10.24%
EPS Growth37.82%
CountryUS
Employees684
SectorIndustrials
Sector Strength66
IndustryEngineering & Construction
Share Statistics
EPS (TTM)-1.96
Shares Outstanding101,175,410
10 Day Avg. Volume2,701,067
30 Day Avg. Volume3,829,371
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)0.72
Price to Cash Flow (P/CF)-2.80
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$3.04Price Target Upside223.40% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering6
Blink Charging Co Business Overview & Revenue Model
Company DescriptionBlink Charging Co (BLNK) is a leading provider in the electric vehicle (EV) charging infrastructure sector. The company specializes in the development, deployment, and operation of a comprehensive network of charging stations across various geographic regions. Blink Charging Co offers a range of products and services, including residential and commercial EV charging equipment, as well as cloud-based software solutions for charging management and network connectivity. As the demand for electric vehicles continues to grow, Blink Charging Co plays a crucial role in supporting the transition to cleaner transportation solutions.
How the Company Makes MoneyBlink Charging Co generates revenue through multiple streams centered around its EV charging solutions. The primary revenue sources include the sale of EV charging equipment to commercial and residential customers and the operation of a growing network of publicly accessible charging stations. Blink Charging Co also earns money through its membership plans, which offer users access to discounted charging rates and other benefits. Additionally, the company leverages strategic partnerships with businesses, municipalities, and property owners to expand its network and enhance service offerings. These partnerships often involve revenue-sharing agreements that contribute to the company's earnings. Blink Charging Co's software solutions and network management services provide an additional layer of recurring revenue, as clients seek robust solutions for managing their EV charging needs.
Blink Charging Co Financial Statement Overview
Summary
Blink Charging Co is experiencing strong revenue growth, but persistent profitability challenges undermine its financial health. The balance sheet appears stable due to low leverage, yet poor returns on equity and negative cash flows pose sustainability risks. The company must focus on improving operational efficiency and cash generation to enhance its financial position.Income Statement
Blink Charging Co has experienced significant revenue growth over recent years, indicating strong top-line expansion. However, the company is struggling with profitability, evidenced by negative gross profit, EBIT, and net profit margins in the TTM. Despite revenue growth, the inability to achieve positive margins is a major concern.30
Negative
Balance Sheet
The company's balance sheet shows a high equity ratio, suggesting a solid capital structure with more equity than debt. However, the negative return on equity indicates inefficiencies in generating profits from shareholders' equity. Although the debt-to-equity ratio is low, the company needs to address profitability to enhance balance sheet strength.45
Neutral
Cash Flow
Cash flow from operations is negative, raising concerns about the company's ability to generate cash internally. The free cash flow is also negative, indicating potential challenges in funding operations and growth without external financing. The ratio of operating cash flow to net income is unfavorable, highlighting cash generation issues.40
Negative
| Breakdown | |||||
| TTM | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 137.75M | 140.60M | 61.14M | 20.94M | 6.23M | 2.76M | Gross Profit |
| -11.02M | 44.46M | 14.80M | 2.84M | 1.52M | 392.41K | EBIT |
| -141.96M | -199.69M | -89.27M | -55.67M | -17.81M | -10.47M | EBITDA |
| -129.91M | -93.12M | -79.72M | -52.94M | -17.17M | -10.06M | Net Income Common Stockholders |
| -144.31M | -203.69M | -91.56M | -53.89M | -18.00M | -10.15M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 18.42M | 121.69M | 36.56M | 174.79M | 22.34M | 7.13M | Total Assets |
| 21.65M | 428.52M | 362.54M | 231.91M | 34.55M | 11.95M | Total Debt |
| 739.70K | 17.94M | 5.49M | 2.09M | 1.56M | 285.66K | Net Debt |
| -17.68M | -103.75M | -31.07M | -172.71M | -20.78M | -3.69M | Total Liabilities |
| 5.56M | 139.12M | 101.58M | 18.08M | 7.39M | 4.51M | Stockholders Equity |
| 16.09M | 289.40M | 260.96M | 213.83M | 27.16M | 7.43M |
| Cash Flow | Free Cash Flow | ||||
| -65.11M | -105.12M | -87.91M | -47.87M | -20.62M | -11.51M | Operating Cash Flow |
| -55.24M | -97.57M | -82.36M | -40.57M | -18.07M | -10.96M | Investing Cash Flow |
| -10.53M | -13.24M | -57.44M | -30.45M | 260.24K | -552.82K | Financing Cash Flow |
| 62.69M | 197.31M | 6.39M | 223.27M | 36.06M | -52.38K |
Blink Charging Co Technical Analysis
Negative
0.94
Price Trends
1.09
Negative
1.36
Negative
1.86
Negative
Market Momentum
-0.03
Negative
41.94
Neutral
14.97
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BLNK, the sentiment is Negative. The current price of 0.94 is below the 20-day moving average (MA) of 0.98, below the 50-day MA of 1.09, and below the 200-day MA of 1.86, indicating a bearish trend. The MACD of -0.03 indicates Negative momentum. The RSI at 41.94 is Neutral, neither overbought nor oversold. The STOCH value of 14.97 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BLNK.
Blink Charging Co Risk Analysis
Blink Charging Co disclosed 39 risk factors in its most recent earnings report. Blink Charging Co reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Blink Charging Co Peers Comparison
Overall Rating
UnderperformOutperform
Sector (62)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $847.71B | 129.30 | 10.52% | ― | 0.95% | -52.81% | |
62 Neutral | $8.05B | 13.61 | 3.91% | 3.11% | 3.81% | -13.91% | |
54 Neutral | $94.69M | ― | -69.69% | ― | -10.24% | 37.82% | |
48 Neutral | $863.83M | ― | 19.14% | ― | 59.57% | 14.59% | |
45 Neutral | $29.70M | ― | -24.26% | ― | 10.25% | 52.91% | |
36 Underperform | $3.73M | ― | -21.91% | ― | -76.66% | 47.08% |
* Industrials Sector Average
Performance Comparison
BLNK
Blink Charging Co
0.94
-2.04
-68.46%
TSLA
Tesla
263.55
88.33
50.41%
AYRO
AYRO
0.55
-1.11
-66.87%
BEEM
Beam Global
2.01
-4.59
-69.55%
EVGO
EVgo
2.82
0.41
17.01%
Blink Charging Co Earnings Call Summary
Earnings Call Date: Mar 13, 2025 | % Change Since: 4.44% | Next Earnings Date: May 8, 2025
Earnings Call Sentiment Neutral
The earnings call highlighted significant progress in service revenue growth, cost reduction, and expansion of Blink-owned chargers. However, the decrease in total revenues and increased loss per share indicate ongoing challenges in achieving profitability. The company is taking strategic actions to improve its financial position and capitalize on market opportunities.Highlights
Record Service Revenue Growth
Blink Charging Co. achieved record full-year service revenues of $35 million, a 32% increase year over year, driven by increased utilization and a greater number of Blink-owned chargers.
Significant Reduction in Cash Burn
Operating expenses were reduced by 24% in 2024, and cash burn was cut by 51%, from $18 million per quarter at the end of 2023 to $9 million per quarter at the end of 2024.
Expansion of Blink-Owned Chargers
Blink Charging Co. increased its number of company-owned chargers by 33% year over year, ending 2024 with 6,867 chargers. This expansion significantly contributed to the revenue increase.
Strong Performance in Europe
Blink Charging Co. maintained a strong presence in Europe with notable EV sales growth in the UK and Belgium, contributing to revenue and profitability diversification.
Gross Margin Improvement
The full-year gross margin improved to 32%, and could have been 35% excluding asset adjustment impacts. This reflects efficient cost management and improved operational efficiency.
Lowlights
Decrease in Total Revenues
Total revenues for 2024 were $126.2 million, down from $140.6 million in 2023, primarily due to challenging comparisons with significant DC fast charger sales in 2023.
Increased Loss Per Share
The loss per share for the full year 2024 was $8.60, up from $2.30 in the prior year, indicating challenges in achieving profitability despite revenue growth in certain areas.
Impact of Asset Adjustments
Q4 gross profit was impacted by an asset adjustment of $2.9 million related to product upgrades, which affected the gross margin negatively.
Company Guidance
During the Blink Charging Co.'s fourth quarter 2024 earnings call, the company presented several financial and strategic metrics highlighting its performance and future direction. The consolidated revenue for Q4 2024 reached $30 million, marking a 20% sequential increase from Q3 2024, while service revenues grew by 24% year-over-year to $9.8 million. Network fees increased 9% year-over-year to $2.4 million, and the total energy dispersed across their networks reached 42.5 gigawatt hours, a 100% increase from the previous year. For the full year, Blink Charging Co. reported total revenues of $126 million with a gross margin of 32%. The company also achieved a 51% reduction in cash burn, bringing quarterly operating cash burn down from $18 million at the end of 2023 to $9 million by the end of 2024. Additionally, Blink Charging Co. aimed to continue this trajectory into 2025, focusing on increasing service revenues, optimizing operations, and pursuing strategic growth in the owner-operator model for its charging networks.Blink Charging Co Corporate Events
Executive/Board ChangesBusiness Operations and Strategy
Blink Charging Co Names Michael Battaglia as CEO
Positive
Jan 28, 2025
On February 1, 2025, Michael Battaglia will assume the roles of President and CEO of Blink Charging Co, succeeding his position as COO. With over 25 years of experience in the automotive and EV charging sectors, Battaglia is expected to leverage his expertise to continue driving the company’s growth and operational improvements. The new CEO’s employment agreement includes a lucrative compensation package with performance-based incentives, underscoring the company’s focus on achieving strategic objectives and maintaining its competitive edge.
Legal ProceedingsBusiness Operations and StrategyRegulatory Filings and Compliance
Blink Charging Co. Resolves SEC Investigation Successfully
Positive
Jan 21, 2025
On January 21, 2025, Blink Charging Co. announced the closure of a Securities and Exchange Commission (SEC) investigation, dating back to July 2023, with no enforcement action recommended against the company. This resolution is seen as a milestone for Blink, allowing the company to eliminate legal expenses and focus on executing its core strategy, enhancing profitability, and continuing to build a world-class organization serving global customers.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.