Business
BLINK CHARGING ANNOUNCES FOURTH QUARTER AND YEAR END 2021 RESULTS
●Record revenues in Q4 2021, up 224% over prior year period and an increase of 24% sequentially compared to Q3 2021 ●Full year 2021 revenue grew 236% to
About this update from Blink Charging Co.
[{"type":"text","content":" ●Record revenues in Q4 2021, up 224% over prior year period and an increase of 24% sequentially compared to Q3 2021 ●Full year 2021 revenue grew 236% to $20.9 million compared to full-year 2020 revenue of $6.2 million ●Q4 2021 service revenues increased 471% year over year (1) ●3,733 charging stations contracted or sold in Q4 2021, an increase of 253% compared to Q4 2020 Miami Beach, FL, March 10, 2022 (GLOBE NEWSWIRE) -- Blink Charging Co. (Nasdaq: BLNK, BLNKW) (“Blink” or the “Company”), a leading owner, operator, and provider of electric vehicle (EV) charging equipment and services, today announced financial results for the fourth quarter and year ended December 31, 2021. The following financial highlights are in thousands of dollars and unaudited. Three Months Ended Year Ended December 31, December 31, 2021 2020 2021 2020 Product Sales $5,718 $1,823 $15,480 $4,432 Service Revenues (1) 1,813 489 4,414 1,286 Other Revenues 419 142 1,046 513 Total Revenues $7,950 $2,454 $20,940 $6,231 (1) Service Revenues consist of charging service revenues, network fees, and ride-sharing service revenues. “Blink closed 2021 with record fourth quarter and full year revenue, driven by strong product sales and service revenues,” commented Michael D. Farkas, Blink’s Chairman and Chief Executive Officer. “We have seen strong momentum throughout the year, which reflects not only the growing market recognition for our EV charging technology, but also the increasing commitment from the business community as well as state and federal entities, to promote the establishment of reliable, convenient EV infrastructure nationwide. “The foundation of our business model is our ability to provide state-of-the art charging solutions, ideally in high-density areas. In an industry where our peers primarily offer either equipment sales or networking, Blink is positioned as a vertically integrated charging provider, with proven success in the development of cutting-edge charging technology and innovative equipment, as well as providing a robust charging network that operates not just our hardware, but also hardware manufactured by others. While we offer a flexible portfolio of charging solutions designed to best meet the needs of our customers, we focus on our owner-operator model, in which we identify the best technology for a location, install and maintain the c...