Wed, Apr 9, 10:03 AM (18 days ago)
**Blink Charging Co. (BLNK) Financial Summary** **Financial Performance:** - **Revenue:** $126.2 million for 2024, down 10% from $140.6 million in 2023. - **Net Loss:** $198.1 million for 2024, a slight improvement from $203.7 million in 2023. - **Gross Profit:** $40.8 million for 2024, slightly up from $40.2 million in 2023. - **Operating Expenses:** $240.7 million for 2024, slightly up from $239.8 million in 2023. - **Cash and Cash Equivalents:** $41.8 million as of December 31, 2024. **Revenue Breakdown:** - **Product Sales:** $81.7 million (down 25% from 2023). - **Charging Service Revenue:** $21.4 million (up 37% from 2023). - **Network Fees:** $8.7 million (up 17% from 2023). - **Warranty:** $6.4 million (up 97% from 2023). - **Grant and Fees Rebate:** $1.7 million (up 263% from 2023). - **Car-sharing Services:** $4.7 million (up 41% from 2023). - **Other:** $1.5 million (up 50% from 2023). **Operating Expenses Breakdown:** - **Compensation:** $58.7 million (down 37% from 2023). - **General and Administrative Expenses:** $31.8 million (down 9% from 2023). - **Other Operating Expenses:** $20.4 million (up 14% from 2023). - **Change in Fair Value of Consideration Payable:** $2.9 million. - **Impairment of Goodwill:** $127.0 million. - **Impairment of Intangible Assets:** $0. **Strategic Overview:** - **Business Models:** Blink offers three business models: Blink-owned turnkey, Blink-owned hybrid, and host-owned. - **Market Position:** Blink aims to be a leading provider of EV charging solutions by deploying mass-scale EV charging infrastructure. - **Future Outlook:** Blink plans to continue expanding its revenues through sales of EV charging equipment, expanding sales channels, and adding additional charging stations. **Risk Factors:** - **Market Risks:** Dependence on consumer adoption of EVs, competition, and regulatory changes. - **Financial Risks:** Need for additional capital, potential dilution of stock, and dependence on government incentives. - **Operational Risks:** Dependence on key suppliers, potential supply chain disruptions, and technological changes. **Financial Condition:** - **Liquidity:** Blink has cash and cash equivalents of $41.8 million as of December 31, 2024. - **Capital Resources:** Blink has access to capital resources and continues to evaluate additional financing opportunities. **Market Position Changes:** - **Competitive Landscape:** The EV charging market is highly competitive, with new entrants and existing competitors. - **Strategic Partnerships:** Blink has strategic partnerships across various transit/destination locations. **Note:** Amounts are in thousands, except for share and per share amounts.