Blink Charging Q2 2024 Earnings Report
Key Takeaways
Blink Charging Co. reported a revenue increase for Q2 2024, alongside a significant reduction in operating expenses. The company is adjusting its full-year revenue target to $145 million - $155 million and aims to achieve positive adjusted EBITDA in 2025.
Total revenues reached $33.3 million, slightly up from $32.8 million in Q2 2023.
Product revenues totaled $23.6 million, compared to $24.6 million in Q2 2023.
Operating expenses decreased by 41% compared to Q2 2023, driven by reductions in compensation and G&A expenses.
Net loss was $(20.1) million, or $(0.20) per share, compared to a net loss of $(41.5) million, or $(0.67) per share in Q2 2023.
Blink Charging
Blink Charging
Blink Charging Revenue by Segment
Forward Guidance
Blink is adjusting its full year 2024 revenue target to between $145 million and $155 million. The Company is also updating its timeline to achieve positive adjusted EBITDA during 2025. The Company targets gross margin for full year 2024 of approximately 33%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income