Business
BLINK CHARGING ANNOUNCES SECOND QUARTER 2021 RESULTS
Second quarter 2021 revenue increased 177% over second quarter 2020 Commercial Blink-owned charging stations contracted or deployed during the quarter grew by
About this update from Blink Charging Co.
[{"type":"text","content":"Second quarter 2021 revenue increased 177% over second quarter 2020 Commercial Blink-owned charging stations contracted or deployed during the quarter grew by over 46% compared to the prior year period 572% increase in revenue from charging services over the second quarter of last year3,264 commercial and residential EV charging stations were contracted, sold, or deployed during Second Quarter 2021, compared to 380 in the same period last year, an increase of 758% Miami Beach, FL, Aug. 11, 2021 (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 second quarter ended June 30, 2021. Selected Second Quarter 2021 Highlights: The Company made continued progress with its owner/operator strategy; the number of commercial Blink-owned charging stations contracted or deployed during the quarter grew by over 46% in the second quarter compared to the prior year period.Total revenue for the second quarter 2021 increased 177% to $4.4 million compared to $1.6 million for the second quarter 2020. Revenues from product sales increased 156% to $3.3 million compared to $1.3 million in the second quarter of 2020, related primarily to increased sales of Generation 2 chargers, DC fast chargers and residential chargers.Revenues from charging services increased to $0.6 million as compared to $90 thousand in the second quarter of 2020, related to the increase in driving as a result of the reopening of the economy which had been constrained from the COVID-19 pandemic.Revenues from network fees, warranty fees, grants/rebates, and other revenues increased 48% to $0.3 million as compared to $0.2 in the second quarter of 2020, related to the increase in EV charging stations in the Company’s network. Net loss was $13.5 million or a loss of $0.32 per basic and diluted share compared to net loss of $3 million or a loss of $0.11 per basic and diluted share in the second quarter of 2020. Second quarter 2021 net loss is primarily attributable to an increase in compensation expense and general and administrative expenses. Selected Year-To-Date 2021 Highlights: Total revenue for the first six months of 2021 increased 129% to $6.6 million compared to $2.9 million for the first six months of 20...