Blink Charging ( (BLNK) ) has released its Q4 earnings. Here is a breakdown of the information Blink Charging presented to its investors.
Blink Charging Co., a global leader in electric vehicle (EV) charging equipment and services, provides innovative solutions for EV drivers, hosts, and fleets through its proprietary cloud-based software and strategic partnerships. In its latest earnings report, Blink Charging announced total revenues of $30.2 million for the fourth quarter of 2024, with full-year revenues reaching $126.2 million. The company experienced a significant increase in service revenues, which grew by 24% in the fourth quarter and 32% for the full year, highlighting the growing demand for their EV charging services. However, product revenues saw a decline compared to the previous year, reflecting a shift in revenue composition. Despite a decrease in total revenues, Blink Charging managed to improve its gross margin for the full year to 32%, up from 29% in 2023. The company also reported a reduction in operating expenses, excluding non-cash charges, and a narrowing of its adjusted EBITDA loss. Looking ahead, Blink Charging remains focused on achieving profitability and expanding its global charging network. The company anticipates continued growth in service revenues throughout 2025 and aims to improve product revenues in the latter half of the year.