Blink Charging Co Stock Price, News & Analysis

Blink Charging (NASDAQ: BLNK) has entered into a non-binding term sheet with Axxeltrova Capital to establish a £100 million Special Purpose Vehicle (SPV) aimed at expanding EV charging infrastructure across the UK. The SPV will finance and own Blink chargers, which Blink will install, operate, and maintain on its network.

The collaboration, aligned with Blink's BlinkFORWARD program, will leverage the Local Electric Vehicle Infrastructure (LEVI) initiative to support local authorities in deploying public charging stations. Alex Calnan, Blink's new Managing Director of Europe, will oversee the project, which focuses on capital efficiency and non-dilutive financing to drive profitability.

Blink Charging (NASDAQ: BLNK) has announced the promotion of Alex Calnan to Managing Director of Europe, effective July 1, 2025. Calnan, previously Managing Director of the UK and former Co-Founder of EB Charging, will oversee operations across the UK, Ireland, Belgium, and the Netherlands from Blink's UK headquarters in St. Albans.

The appointment follows Miko de Haan's departure as President of Europe Operations. Calnan brings over a decade of experience in developing growth strategies for EV charging companies and will focus on streamlining services, enhancing technology, and expanding Blink's European presence.

Envoy Technologies, a Blink Charging subsidiary, has launched its EV car-sharing service at Forma Miami Residences, marking its first partnership with Crescent Heights. The service provides residents exclusive access to a Tesla Model 3 through Envoy's amenity-based mobility platform. Located in Brickell, the luxury development designed by Kobi Karp integrates this service as part of its premium amenities package. Envoy's platform allows residents to reserve and access the vehicle through a mobile app, offering a sustainable alternative to car ownership. The company operates a comprehensive car-sharing model that includes vehicle leasing, telematics insurance, and fleet management. This launch represents Envoy's expansion in the South Florida market, with plans for further growth across luxury properties in key U.S. cities.

Blink Charging UK (BLNK), a subsidiary of Blink Charging Co., has secured a contract with North Hertfordshire Council to expand its EV charging network. The company will install and operate 18 new EV charging stations across North Hertfordshire, strategically placed near residential areas without off-street parking. This expansion will bring the total number of charging stations in Hertfordshire County to nearly 1,000 units. The initiative supports North Hertfordshire's sustainability goals, particularly its target to achieve net zero emissions by 2040. The project demonstrates Blink's growing presence in the UK's EV infrastructure market and its commitment to facilitating the transition to electric mobility.

Envoy Technologies, a Blink Charging subsidiary, has expanded its luxury EV car-sharing service to three East West Hospitality properties in Snowmass, Colorado. The service provides Tesla Model Y vehicles at Electric Pass Lodge and a 2025 Rivian R1S at Snowmass Base Village. Guests can easily reserve and access vehicles through Envoy's mobile app. The expansion builds on Envoy's existing presence at the Viceroy Hotel, where they provide a Tesla Model 3 and Rivian R1S for international employees. This strategic partnership aims to enhance guest experiences by offering premium transportation options that align with the luxury accommodations provided by East West Hospitality.

Blink Charging (NASDAQ: BLNK) has appointed Michael Bercovich as its new Chief Financial Officer, effective June 23rd, 2025. Bercovich brings over 20 years of experience in global finance and accounting, having previously served as CFO at several companies including Helios Global Payments Solutions and Elements Global Services. Throughout his career, he has successfully raised over $250M in capital and managed financial operations in over 40 countries. He replaces Michael Rama, who is departing to pursue other opportunities. Robert Strauss from FTI Consulting will serve as Interim CFO until Bercovich's start date. The appointment comes as Blink continues its focus on growth and path to profitability in the EV charging infrastructure sector.

Blink Charging has partnered with WirelessCar and ChargeHub to launch 'Seamless Charging', an innovative pilot program across North America. The initiative aims to simplify EV charging through a single-app signup system that eliminates the need for multiple apps, tags, and cards. After registering with the ChargeHub app and activating Seamless Charging, drivers can simply plug in at any Blink charging station without additional steps. The system leverages connected vehicle data and real-time events to streamline the charging process, making it particularly beneficial for drivers without home charging access. The collaboration between these industry leaders represents a significant step toward making EV charging more accessible and convenient, potentially accelerating the adoption of electric vehicles across the United States and Canada.

Blink Charging (NASDAQ: BLNK), a leading EV charging infrastructure company, has announced a strategic restructuring plan that includes a 20% reduction in its global workforce. This initiative, part of the company's BlinkForward strategy, aims to streamline operations and enhance efficiency. The restructuring is expected to generate annual savings of over $11 million, with associated costs between $1-1.5 million for severance and related expenses.

The workforce reduction, scheduled to complete by the end of Q3 2025, is designed to create a more focused and agile organization. The company will provide severance packages and outplacement services to affected employees. CEO Mike Battaglia emphasized that these measures are crucial for long-term success and maintaining market leadership in the EV charging sector.

[ "Expected annual cost savings of over $11 million from restructuring", "Strategic realignment to improve operational efficiency and agility", "Relatively low restructuring costs ($1-1.5M) compared to expected savings" ]

Blink Charging (NASDAQ: BLNK) reported Q1 2025 financial results with total revenues of $20.8 million, down 44.8% from Q1 2024. While service revenues grew 29.2% to $10.6 million, product sales declined 69.5%. The company achieved a gross margin of 35.5% and added 319 Blink-owned chargers to its network. Net loss widened to $20.7 million ($0.20 per share) compared to $17.2 million in Q1 2024. Cash position stood at $42.0 million with no debt. Despite revenue shortfall due to economic uncertainty, management expects sequential revenue growth in Q2 2025 and continued service revenue increases throughout the year. Post-quarter, Blink partnered with Create Energy to launch a turnkey NanoGrid™ solution combining energy storage with EV charging infrastructure.