Education
About Us
Working with TipRanks
Follow Us
Blink Charging Co (BLNK)
NASDAQ:BLNK
Top Page
Blink Charging Co
(NASDAQ:BLNK)
39Underperform
Positive Factors
Business Strategy
Blink's vertically integrated and in-house manufacturing business model provides improved margins and better control over production processes, offering a significant competitive advantage.
Revenue Growth
Growth in the owner-operator model has led to a 30% year-over-year increase in service revenues.
Negative Factors
Sales Performance
Blink announced its 3Q24 results with revenues of $25.2M compared to $43.4M in 3Q23, a 41.9% year-over-year decline.
Blink Charging Co (BLNK) vs. S&P 500 (SPY)
Market Cap
$102.19M
Dividend YieldN/A
Average Volume (3M)4.27M
Price to Earnings (P/E)―
Beta (1Y)2.25
Revenue Growth15.13%
EPS Growth59.90%
CountryUS
Employees706
SectorIndustrials
Sector Strength73
IndustryConstruction
Share Statistics
EPS (TTM)-1.45
Shares Outstanding101,175,410
10 Day Avg. Volume4,786,154
30 Day Avg. Volume4,265,493
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)0.74
Price to Cash Flow (P/CF)-2.80
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$2.23Price Target Upside147.78% Upside
Rating ConsensusHold
Number of Analyst Covering4
Blink Charging Co Business Overview & Revenue Model
Company DescriptionBlink Charging Co (NASDAQ: BLNK) is a leading provider in the electric vehicle (EV) charging industry, specializing in the deployment and operation of EV charging infrastructure. The company's core services include the installation, maintenance, and management of EV charging stations across various public, commercial, and residential locations. Blink Charging offers an extensive network of charging stations that support the growing adoption of electric vehicles, aiming to provide convenient and accessible EV charging solutions to meet the needs of drivers and businesses.
How the Company Makes MoneyBlink Charging Co generates revenue through multiple streams related to its EV charging infrastructure. The primary source of income is the fees collected from EV drivers who use Blink's charging stations, which can be structured as pay-per-use transactions or subscription-based services. Additionally, Blink Charging earns money through partnerships with businesses and municipalities that host its charging stations, often under various business models such as ownership, partnership, or revenue-sharing agreements. Another key revenue stream comes from selling and leasing EV charging equipment to commercial clients and property owners. The company also benefits from government incentives and grants aimed at promoting the expansion of EV infrastructure, enhancing its ability to install and operate charging stations in new markets.
Blink Charging Co Financial Statement Overview
Summary
Blink Charging Co is experiencing strong revenue growth, but persistent profitability challenges undermine its financial health. The balance sheet appears stable due to low leverage, yet poor returns on equity and negative cash flows pose sustainability risks. The company must focus on improving operational efficiency and cash generation to enhance its financial position.Income Statement
Blink Charging Co has experienced significant revenue growth over recent years, indicating strong top-line expansion. However, the company is struggling with profitability, evidenced by negative gross profit, EBIT, and net profit margins in the TTM. Despite revenue growth, the inability to achieve positive margins is a major concern.30
Negative
Balance Sheet
The company's balance sheet shows a high equity ratio, suggesting a solid capital structure with more equity than debt. However, the negative return on equity indicates inefficiencies in generating profits from shareholders' equity. Although the debt-to-equity ratio is low, the company needs to address profitability to enhance balance sheet strength.45
Neutral
Cash Flow
Cash flow from operations is negative, raising concerns about the company's ability to generate cash internally. The free cash flow is also negative, indicating potential challenges in funding operations and growth without external financing. The ratio of operating cash flow to net income is unfavorable, highlighting cash generation issues.40
Negative
| Breakdown | |||||
| TTM | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 137.75M | 140.60M | 61.14M | 20.94M | 6.23M | 2.76M | Gross Profit |
| -11.02M | 44.46M | 14.80M | 2.84M | 1.52M | 392.41K | EBIT |
| -141.96M | -199.69M | -89.27M | -55.67M | -17.81M | -10.47M | EBITDA |
| -129.91M | -93.12M | -79.72M | -52.94M | -17.17M | -10.06M | Net Income Common Stockholders |
| -144.31M | -203.69M | -91.56M | -53.89M | -18.00M | -10.15M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 18.42M | 121.69M | 36.56M | 174.79M | 22.34M | 7.13M | Total Assets |
| 21.65M | 428.52M | 362.54M | 231.91M | 34.55M | 11.95M | Total Debt |
| 739.70K | 17.94M | 5.49M | 2.09M | 1.56M | 285.66K | Net Debt |
| -17.68M | -103.75M | -31.07M | -172.71M | -20.78M | -3.69M | Total Liabilities |
| 5.56M | 139.12M | 101.58M | 18.08M | 7.39M | 4.51M | Stockholders Equity |
| 16.09M | 289.40M | 260.96M | 213.83M | 27.16M | 7.43M |
| Cash Flow | Free Cash Flow | ||||
| -65.11M | -105.12M | -87.91M | -47.87M | -20.62M | -11.51M | Operating Cash Flow |
| -55.24M | -97.57M | -82.36M | -40.57M | -18.07M | -10.96M | Investing Cash Flow |
| -10.53M | -13.24M | -57.44M | -30.45M | 260.24K | -552.82K | Financing Cash Flow |
| 62.69M | 197.31M | 6.39M | 223.27M | 36.06M | -52.38K |
Blink Charging Co Technical Analysis
Negative
0.90
Price Trends
1.21
Negative
1.48
Negative
1.98
Negative
Market Momentum
-0.07
Negative
37.54
Neutral
38.89
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BLNK, the sentiment is Negative. The current price of 0.9 is below the 20-day moving average (MA) of 1.01, below the 50-day MA of 1.21, and below the 200-day MA of 1.98, indicating a bearish trend. The MACD of -0.07 indicates Negative momentum. The RSI at 37.54 is Neutral, neither overbought nor oversold. The STOCH value of 38.89 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BLNK.
Blink Charging Co Risk Analysis
Blink Charging Co disclosed 39 risk factors in its most recent earnings report. Blink Charging Co reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Blink Charging Co Peers Comparison
Overall Rating
UnderperformOutperform
Sector (62)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $797.99B | 118.08 | 10.52% | ― | 0.95% | -52.81% | |
62 Neutral | $8.17B | 12.76 | 0.49% | 3.07% | 3.84% | -16.79% | |
48 Neutral | $768.87M | ― | 19.14% | ― | 59.57% | 14.59% | |
45 Neutral | $31.47M | ― | -24.26% | ― | 10.25% | 52.91% | |
39 Underperform | $102.19M | ― | -69.69% | ― | 15.13% | 59.90% | |
36 Underperform | $3.45M | ― | -21.91% | ― | -76.66% | 47.08% |
* Industrials Sector Average
Performance Comparison
BLNK
Blink Charging Co
0.90
-2.02
-69.18%
TSLA
Tesla
240.68
77.11
47.14%
AYRO
AYRO
0.52
-1.13
-68.48%
BEEM
Beam Global
2.14
-4.78
-69.08%
EVGO
EVgo
2.37
-0.13
-5.20%
Blink Charging Co Earnings Call Summary
Earnings Call Date: Mar 13, 2025 | % Change Since: 0.00% | Next Earnings Date: May 8, 2025
Earnings Call Sentiment Neutral
The earnings call highlighted strong growth in service revenue, gross margins, and efficiency improvements, particularly in cash burn reduction and DC fast charger performance. However, these positive aspects were offset by significant declines in total revenue and product sales, and non-cash impairment charges impacting financial statements. The sentiment reflects cautious optimism with substantial challenges yet to be addressed.Highlights
Gross Margin Exceeds Target
Gross margin in Q3 was 36%, significantly exceeding the full-year 2024 target guidance of 33%.
Charger Deployment Growth
Deployed 6,978 chargers globally, a 17% increase year-over-year and a 70% increase sequentially.
Energy Dispersion Increase
Dispersed nearly 37 gigawatts of energy, a 126% increase year-over-year.
Cash Burn Reduction
Reduced cash burn by $3.6 million or 27% compared to Q3 of last year, and by $45 million or 50% year-to-date.
DC Fast Chargers Revenue Surge
Revenue from owned and operated DC fast chargers increased by 544% year-over-year.
Collaboration and Strategic Initiatives
Announced strategic alliances with WEX and Create Energy, and received a $2 million grant from the State of Illinois.
Lowlights
Product Sales Decline
Product sales net revenues reflected muted delivery activity and had a challenging comparison due to weaker DC fast charger sales compared to 2023.
Total Revenue Decrease
Total revenue for Q3 2024 was $25.2 million, down from $43.4 million in the same period of 2023.
Non-Cash Impairment Charges
Operating expenses in Q3 included non-cash goodwill impairment charges of $69.1 million.
Earnings Per Share Loss
Earnings per share loss of $0.86 for Q3 2024, though improved from $1.74 loss in the prior year period.
Company Guidance
During the third quarter of 2024, Blink Charging reported total revenue of $25.2 million, with service revenue contributing $8.8 million, equating to 35% of total revenue. The company's gross margin reached 36%, surpassing its full-year target of 33%. Blink deployed 6,978 chargers, marking a 17% year-over-year increase and a 70% sequential rise, largely driven by L2 chargers. Energy dispersion across its networks hit 37 gigawatts, a 126% increase from the previous year. The company significantly reduced its cash burn by $3.6 million, amounting to a 27% decrease compared to the prior year, while maintaining a strong owner-operated portfolio of 6,442 chargers, reflecting a 28% increase. Revenue from DC fast chargers surged by 544% year-over-year. Blink adjusted its full-year revenue guidance to a range of $125 million to $135 million, with a continued goal to achieve a gross margin of 33% and positive adjusted EBITDA in the second half of 2025.Blink Charging Co Corporate Events
Executive/Board ChangesBusiness Operations and Strategy
Blink Charging Co Names Michael Battaglia as CEO
Positive
Jan 28, 2025
On February 1, 2025, Michael Battaglia will assume the roles of President and CEO of Blink Charging Co, succeeding his position as COO. With over 25 years of experience in the automotive and EV charging sectors, Battaglia is expected to leverage his expertise to continue driving the company’s growth and operational improvements. The new CEO’s employment agreement includes a lucrative compensation package with performance-based incentives, underscoring the company’s focus on achieving strategic objectives and maintaining its competitive edge.
Legal ProceedingsBusiness Operations and StrategyRegulatory Filings and Compliance
Blink Charging Co. Resolves SEC Investigation Successfully
Positive
Jan 21, 2025
On January 21, 2025, Blink Charging Co. announced the closure of a Securities and Exchange Commission (SEC) investigation, dating back to July 2023, with no enforcement action recommended against the company. This resolution is seen as a milestone for Blink, allowing the company to eliminate legal expenses and focus on executing its core strategy, enhancing profitability, and continuing to build a world-class organization serving global customers.
Executive/Board Changes
Blink Charging Co Appoints Martha J. Crawford to Board
Positive
Dec 18, 2024
Blink Charging Co has elected Martha J. Crawford to its Board of Directors, effective December 12, 2024. Dr. Crawford, an expert in technological innovation with extensive C-suite experience in environmental services and energy sectors, is expected to enhance the board’s capabilities in these areas. Her appointment is likely to strengthen Blink Charging’s strategic positioning within the industry, thanks to her vast expertise and independent status as defined by Nasdaq listing rules.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.