Loading...
•
Sep 30, 2024
Blink Charging Q3 2024 Earnings Report
Blink Charging reported a decrease in total revenue but an increase in service revenue and gross profit margin.
Key Takeaways
Blink Charging reported a decrease in total revenues to $25.2 million, but service revenues increased by 30%. The company's gross profit margin improved to 36%, and operating expenses decreased by 21%. Net loss was $(87.4) million, or $(0.86) per share.
Total revenues decreased to $25.2 million compared to $43.4 million in Q3 2023.
Service revenues increased by 30% to $8.8 million, driven by greater charger utilization and an increased number of chargers on the Blink networks.
Gross profit margin increased to 36% due to a shift in sales mix.
Operating expenses decreased by 21% to $97.3 million.
Revenue by Segment
Forward Guidance
Blink is revising its target revenues to between $125 million and $135 million for the full year 2024. The Company expects to achieve positive adjusted EBITDA in the second half of 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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...