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Mar 31, 2023
Blink Charging Q1 2023 Earnings Report
Blink Charging reported strong results with a significant increase in revenue and gross profit, but also experienced a larger net loss compared to the previous year.
Key Takeaways
Blink Charging announced a 121% increase in total revenue, reaching $21.7 million for the first quarter of 2023. Gross profit also increased significantly, up 186% to $4.5 million. However, the company's net loss widened to $29.8 million, or $(0.53) per share.
Total revenue increased by 121% to $21.7 million compared to Q1 2022.
Product sales increased by 104% to $16.4 million, driven by increased sales of commercial, DC fast, and residential chargers.
Service revenues increased by 216% to $4.8 million, driven by greater charger utilization and an increased number of chargers on the Blink networks.
Gross profit increased by 186% to $4.5 million, representing 21.0% of revenue.
Revenue by Segment
Forward Guidance
Blink Charging continues to target revenues in the range of $100 million to $110 million and gross margin in excess of 30% for full year 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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