Business
BLINK CHARGING ANNOUNCES FIRST QUARTER 2025 RESULTS
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
About this update from Blink Charging Co.
[{"type":"text","content":"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 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, 2025 2024 Change Product Sales$8,381 $27,508 (69.5%) Service Revenues (1) 10,581 8,189 29.2% Other Revenues (2) 1,792 1,871 (4.2%) Total Revenues $20,754 $37,568 (44.8%) (1) Service Revenues consist of charging service revenues, network fees, and car-sharing service revenues.(2) Other Revenues consist of warranty fees, grants and rebates, and other revenues. “While first quarter revenue fell short of expectations primarily due to the uncertain economic climate impacting customers’ discretionary spending decisions, we remain confident in the essential growth of EV charging infrastructure globally. Blink's advanced solutions and flexible offerings strongly position us to capitalize on this expansion. Encouragingly, charging revenue grew by 35% in the quarter, demonstrating continued momentum primarily driven by the increased utilization of Blink chargers. Network fees grew by 27% and we made significant progress reducing operating expenses. Following the close of the quarter we saw improved order activity during April, and we anticipate sequential consolidated revenue growth in the second quarter of 2025. “We recently announced our innovative collaboration with Create Energy, which introduces a unique, turnkey NanoGrid™ solution with energy storage to enhance reliability and accelerate deployments of our DCFC installations. For our customers, this solution provides simplified integration and can reduce total cost of ownership. This new offering reinforces Blink’s commitment to expanding our market presence and capabilities into advance...