Blink Charging Co (BLNK) Q2 2025 Earnings Call Highlights: Revenue Growth Amidst Profit Challenges

Blink Charging Co reported a 38% sequential growth in total revenues for Q2 2025, with product revenues increasing by 73% compared to Q1 2025. Service revenue grew 46% YoY, reflecting increased demand for charging and network services. Despite revenue growth, Blink Charging Co reported a gross profit decline to $2.1 million or 7.3% of revenues. The company incurred $16.5 million in largely one-time non-cash charges during the second quarter. Operating expenses increased to $34.3 million in Q2 2025 from $31.4 million in the same period of 2024. Cash and cash equivalents decreased to $25.3 million as of June 30, 2025, from $55 million at the end of 2024.

Blink Charging Co (BLNK) reported a significant 38% sequential growth in total revenues for Q2 2025, reaching $28.7 million. This growth was primarily driven by a 73% increase in product revenues compared to Q1 2025, and a 46% year-over-year (YoY) increase in service revenues [1].

Despite the impressive revenue growth, Blink Charging Co faced several challenges. The company reported a gross profit decline to $2.1 million, or 7.3% of revenues, compared to $10.7 million or 32% of revenues in the same quarter last year [1]. Additionally, Blink incurred $16.5 million in largely one-time non-cash charges during the second quarter, including inventory write-offs and asset impairments [1].

Operating expenses increased to $34.3 million in Q2 2025 from $31.4 million in the same period of 2024, despite efforts to reduce costs [1]. The company also reported a net loss per share of $0.31, compared to a $0.20 loss in the prior year period [1]. Cash and cash equivalents decreased to $25.3 million as of June 30, 2025, from $55 million at the end of 2024, with a cash burn of approximately $30 million in the first half of the year [1].

Blink Charging Co's acquisition of Zemetric, Inc., a charging infrastructure company, post Q2 2025, is expected to enhance its product offerings and strengthen its position in the EV charging infrastructure market [2]. The company also restructured its agreement with Envoy Technologies, releasing it from previous payment obligations in exchange for stock and performance-based warrants [2].

In a Q&A session following the earnings release, Michael Battaglia, President and CEO, stated that the adjusted gross margin was about 30%, driven by a higher mix of DC fast chargers, which have a lower margin profile [1]. He also expressed optimism about future revenue growth and operational efficiency as the company continues to scale its charging infrastructure [1].

References:
[1] https://finance.yahoo.com/news/blink-charging-co-blnk-q2-070439255.html
[2] https://www.quiverquant.com/news/Blink+Charging+Co.+Reports+38%25+Sequential+Revenue+Growth+in+Q2+2025%2C+Acquires+Zemetric%2C+and+Streamlines+Operations