Blink Charging Co Stock Price, News & Analysis

Blink Charging Co. (Nasdaq: BLNK, BLNKW) reported a remarkable 339% increase in total revenues, reaching $9.8 million for Q1 2022, compared to $2.2 million in Q1 2021. This growth was largely driven by a 382% rise in product sales and a 346% rise in service revenues. The company contracted or sold 3,174 charging stations, a 99% increase year-over-year. Despite a net loss of $15.1 million, Blink's cash and marketable securities stood at $161.9 million as of March 31, 2022. The acquisition of EB Charging expanded its presence in the UK and added over 1,150 chargers to its footprint.

Blink Charging Co. (Nasdaq: BLNK, BLNKW) has appointed Vitalie Stelea as Vice President of Investor Relations, effective May 5, 2022. With over 15 years of financial experience, Stelea will spearhead Blink’s investor relations strategy as the company aims to strengthen its presence in the U.S. and international markets. Previously with Ford Motor Company, he contributed to significant initiatives in electrification and investor communications. Blink operates more than 30,000 EV charging ports across 18 countries, positioning itself for growth in the rapidly expanding electric vehicle sector.

Blink Charging has acquired Electric Blue Ltd., marking its first entry into the UK market.

This acquisition adds over 1,150 EV chargers to Blink's global footprint and is valued at approximately $23.4 million in cash, stock, and earnout.

EB Charging, operating since 2015, serves over 80 customers in the UK. The deal enhances Blink's strategic position, aiming to tap into the UK's growing EV charging market, supported by government initiatives to increase charge points.

Blink Charging Co. (Nasdaq: BLNK, BLNKW) will announce its first quarter 2022 financial results on May 9, 2022, after market close. A conference call and webcast will take place at 4:30 p.m. ET to discuss the results for the quarter ended March 31, 2022. Investors can access the live webcast on Blink's website. Phone participation is also available, with a replay accessible until June 8, 2022. Blink has deployed over 30,000 EV charging ports across 18 countries, positioning itself as a leader in the electric vehicle charging industry.

Blink Charging Co. (Nasdaq: BLNK, BLNKW) has expanded its international presence by adding over 200 EV chargers in Greece to its network. The company has also secured distribution agreements in nine Latin American countries, including Mexico and Colombia. These strategic moves are part of a wider initiative to enhance the Blink Network, now operational in 17 countries, with software upgrades supporting local currencies and multiple languages. Overall, Blink continues to grow its global footprint with over 30,000 charging ports across 18 countries.

Blink Charging Co. (Nasdaq: BLNK, BLNKW) has announced its European subsidiary, Blue Corner, has received a €450,000 grant from Flanders Innovation and Entrepreneurship (VLAIO) to enhance energy management services. This funding supports innovation in the integration of renewable energy with EV charging technologies, crucial for meeting urban zero-emission goals. The grant is associated with the Hub for Urban Mobility and Renewable Energy (HUME) project, involving collaborations with various educational and technical institutions to advance urban mobility solutions.

Blink Charging Co. (Nasdaq: BLNK, BLNKW) announced the installation of 6 EV charging ports at Hampton Inn Woodstock in partnership with Virginia Clean Cities. Funded partially by a grant from the Mid Atlantic Electrification Partnership, this initiative aims to enhance EV charging accessibility along Route 81. Blink and Virginia Clean Cities plan to install approximately 200 chargers across Virginia, Maryland, and Washington D.C. The event includes local dignitaries and an EV showcase to promote the initiative.

Blink Charging Co. (Nasdaq: BLNK, BLNKW) has received $800,000 in grants from the Massachusetts Department of Environmental Protection to install 8 dual-port DC fast charging stations across the state. This funding is part of the Massachusetts Electric Vehicle Incentive Program aimed at enhancing EV infrastructure, supporting the state’s goal to phase out gas-powered vehicles by 2035. The new stations will help facilitate EV adoption by improving access to charging in key locations along major highways.

Blink Charging Co. reported record revenues for Q4 2021, achieving $7.9 million, a 224% increase year-over-year, and 236% growth for the full year to $20.9 million. Q4 service revenues surged 471% year-over-year, with 3,733 charging stations contracted, a 253% increase. However, the company faced a net loss of $19 million for Q4, widening from $7.9 million in the prior year. Improvements in adjusted EBITDA were noted, with cash and marketable securities totaling $174.8 million as of December 31, 2021.