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Mar 31, 2024
Blink Charging Q1 2024 Earnings Report
Blink Charging announced a 73% increase in first quarter revenue, reaching $37.6 million, and a gross margin of 36%.
Key Takeaways
Blink Charging reported a strong first quarter with a 73% increase in revenue to $37.6 million and a gross margin of 36%. The company is focused on strategic initiatives to leverage vertical integration and optimize operations. While April saw lower bookings, Blink maintains its 2024 revenue target of $165 to $175 million.
Total revenues increased by 73% to $37.6 million compared to the first quarter of 2023.
Gross profit increased by 195% to $13.4 million, representing 36% of revenues.
Operating expenses decreased by 13% to $30.9 million.
Net loss for the quarter was $17.2 million, or $(0.17) per share.
Blink Charging
Blink Charging
Blink Charging Revenue by Segment
Revenue by Segment
Product Sales Revenue
CapyFin.comService Revenues Revenue
CapyFin.comOther Revenues Revenue
CapyFin.com Forward Guidance
For the full year 2024, the Company maintains its target of revenues between $165 million and $175 million and reiterates its target of achieving a positive adjusted EBITDA run rate by December 2024. The Company targets gross margin for full year 2024 of approximately 33%.
Positive Outlook
- Maintaining revenue target of $165 million to $175 million for 2024.
- Reiterating target of achieving a positive adjusted EBITDA run rate by December 2024.
- Targeting gross margin for full year 2024 of approximately 33%.
Challenges Ahead
- Lower bookings observed in April.
- Potential need to adjust operating expenses in response to market conditions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income