Blink Charging Co Stock Price, News & Analysis

Blink Charging Co. (Nasdaq: BLNK, BLNKW) reported record revenues for Q3 2021, soaring 607% to $6.4 million compared to last year. Product sales surged 766% to $4.8 million, driven by increased demand for chargers and acquisitions. Service revenues grew 425% to $1.4 million. Despite this, the company reported a net loss of $15.3 million, up from $3.9 million in Q3 2020, largely due to higher operating expenses of $16.7 million. Blink secured significant grants and partnerships, including a $12.5 million grant in Florida, and continues to expand its EV charging network.

Blink Charging Co. (Nasdaq: BLNK, BLNKW) recently expressed its support for the bipartisan infrastructure bill that allocates $7.5 billion for electric vehicle (EV) infrastructure. CEO Michael D. Farkas highlighted how this funding is essential for deploying EV charging stations, aiding in mass EV adoption, reducing emissions, and creating jobs. Blink has already secured nearly $25 million in EV infrastructure grants and incentives in 2021. The company operates over 30,000 charging ports globally and aims to align with the federal goal of having 500,000 EV charging stations by 2030.

Blink Charging Co. (Nasdaq: BLNK, BLNKW) has successfully deployed six DC fast chargers in Michigan, funded by grants from Michigan Consumers Energy and the Michigan Department of Environment, Great Lakes, and Energy (EGLE). The installations, located in Traverse City and Clare, are part of Michigan's initiative to enhance EV infrastructure without taxpayer expense. This expansion follows Blink's recent deployment of 27 charging ports in Traverse City, further supporting the state's growing EV network and consumer adoption of electric vehicles.

Blink Charging Co. (Nasdaq: BLNK, BLNKW) will report its Q3 2021 financial results on November 11, 2021, after market closure. A conference call is scheduled at 4:30 PM ET for discussing the results from the quarter ending September 30, 2021. To participate, analysts can access the live webcast via the official link or dial in using designated phone numbers. A replay will be available until December 11, 2021.

Blink Charging Co. (Nasdaq: BLNK, BLNKW) announced the sale of 64 residential Level 2 charging stations, the HQ 150, to Rudy’s Performance Parts for resale. This collaboration reflects the growing demand for EV charging solutions as traditional automotive vendors recognize their value. The HQ 150 is designed for home use with a 25-foot cable and compatibility with all EV models. Rudy’s also installed a commercial Blink station for public use in North Carolina.

Blink Charging remains a leader in EV charging, with over 30,000 ports deployed globally.

Blink Charging Co. (Nasdaq: BLNK, BLNKW) is expanding its BlueLA electric car sharing program in Los Angeles, following City Council approval. The initiative includes adding 300 street-side EV chargers at 60 locations and increasing its electric vehicle fleet by up to 300 EVs based on usage. This expansion, partially funded by the Los Angeles Department of Transportation and California Air Resources Board, aims to improve electric vehicle accessibility in underserved communities. Currently, BlueLA operates 190 chargers across 39 locations in the city.

Blink Charging Co. (Nasdaq: BLNK, BLNKW) has launched its Level 2 charging stations across six hotel locations in Virginia, Maryland, and Washington D.C., deploying 16 charging ports. This initiative is part of a $233,000 grant from the Mid-Atlantic Electrification Partnership, aimed at expanding EV infrastructure in the region. The company plans to install a total of 200 networked Level 2 charging ports over three years.

These installations will support green tourism and address the growing need for accessible EV charging options, especially for travelers.

Blink Charging Co. (Nasdaq: BLNK, BLNKW) has announced the installation of its first publicly accessible EV charging station at San Antonio Zoo. This marks the initiation of the EV San Antonio program, which will feature 202 Level 2 charging ports and 3 DC fast chargers across the city. Funded partly by the Texas Volkswagen Environmental Mitigation Program, the project aims to enhance public EV charging accessibility and supports the city's climate goals. Additional charging sites are planned for the near future, reinforcing Blink's commitment to sustainable transportation.

Blink Charging Co. (Nasdaq: BLNK, BLNKW) announced a cooperative purchasing contract with Sourcewell, allowing over 50,000 government, education, and non-profit organizations to procure Blink EV chargers. This contract is part of Sourcewell's extensive purchasing program, which provides benefits to agencies by leveraging collective buying power. Blink aims to simplify the procurement process, accelerating the installation of EV charging infrastructure as more drivers transition to electric vehicles. This partnership is among several recent agreements expanding Blink's distribution channels.