Blink Charging Q3 2022 Earnings Report
Key Takeaways
Blink Charging Co. announced a 169% increase in total revenues to $17.2 million for the third quarter of 2022, driven by increased product and service revenues. Gross profit increased by 436% to $4.8 million. However, the company reported a net loss of $25.6 million, or $(0.51) per share.
Total revenues increased 169% to $17.2 million.
Product sales increased 177% to $13.4 million.
Service revenues increased 123% to $3.1 million.
Gross profit increased 436% to $4.8 million, representing 28% of revenue.
Blink Charging
Blink Charging
Blink Charging Revenue by Segment
Forward Guidance
Blink Charging is focused on expanding its U.S. production capacity to meet increasing customer demand and compete for government funding. The company aims to increase the capacity of its Bowie plant to 50,000 units by 2024 and add a new facility to further increase production.
Positive Outlook
- Unique business model as a fully vertically integrated EV charging provider.
- Tailored offerings to meet customers’ needs.
- Redesigned high-tech network.
- Portfolio of equipment offerings.
- Flexible ownership models and strong reputation in the marketplace.
Revenue & Expenses
Visualization of income flow from segment revenue to net income