Blink Charging 2025 Q1 Earnings Misses Targets with Net Income Falling 20.6%

Blink Charging (BLNK) reported its fiscal 2025 Q1 earnings on May 12th, 2025. Despite anticipations, the company’s performance fell short of expectations, with net income decreasing by 20.6% compared to the previous year. This decline was attributed to a challenging economic climate, which affected discretionary spending and consequently impacted revenue. Management continues to forecast sequential revenue growth for Q2 and sustained improvements for the rest of the year, maintaining a focus on cost reduction for profitability.

Revenue

Blink Charging experienced a notable decline in total revenue for the first quarter of 2025, falling 44.8% to $20.75 million from $37.57 million in Q1 2024. The product sales segment contributed $8.38 million, a sharp decrease from the previous year. Charging service revenue stood at $6.78 million, while network fees generated $2.63 million. Car-sharing services added $1.18 million to the total, and other revenue sources, including warranty fees and grants, contributed $1.792 million collectively.

Earnings/Net Income

The company reported a deeper net loss of $20.71 million, translating to $0.20 per share, compared to a $17.17 million loss or $0.17 per share in Q1 2024. The increased loss underscores ongoing challenges in achieving profitability.

Price Action

The stock price of Blink Charging has edged down 1.76% during the latest trading day, has surged 20.96% during the most recent full trading week, and has jumped 13.82% month-to-date.

Post-Earnings Price Action Review

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CEO Commentary

Blink Charging Co. President and Chief Executive Officer Mike Battaglia highlighted the current business performance, noting that first-quarter revenue was impacted by an uncertain economic climate affecting customers' discretionary spending. However, he expressed confidence in the essential growth of EV charging infrastructure globally, emphasizing that charging revenue grew by 35% and network fees increased by 27%. Battaglia mentioned significant progress in reducing operating expenses and reported improved order activity in April, anticipating sequential revenue growth in the second quarter of 2025. He also underscored their collaboration with Create Energy, which enhances deployment efficiency of DCFC installations.

Guidance

Blink Charging expects sequential revenue growth in the second quarter of 2025 and anticipates continued growth throughout the second half of the year. Service revenue is projected to increase throughout 2025, while the company remains committed to reducing operating expenses and cash burn as it works toward profitability. Improved visibility regarding the timeline to achieve adjusted EBITDA profitability is expected as the year progresses.

Additional News

In recent developments, Blink Charging has been actively pursuing strategic initiatives to enhance its market presence. The company has teamed up with Create Energy to deliver a pioneering turnkey solution combining energy storage and EV charging, aimed at bolstering grid resiliency. Additionally, Blink Charging UK secured a 'Preferred Bidder' status for a significant 15-year contract with Brighton & Hove, expected to involve the installation of at least 350 chargers. Furthermore, Blink has expanded its footprint internationally by providing 50 EV chargers to Porsche Destination Charging in Mexico. These initiatives highlight Blink’s commitment to expanding its service offerings and strengthening its global reach in the EV charging industry.