Blink Charging Q4 2021 Earnings Report
Key Takeaways
Blink Charging Co. reported a significant increase in revenue for Q4 2021, reaching $7.9 million, a 224% increase compared to Q4 2020. This growth was primarily driven by increased product sales and service revenues. However, the company experienced a net loss of $19.0 million, or $0.45 per share, compared to a net loss of $7.9 million, or $0.24 per share in Q4 2020.
Total revenue increased by 224% to $7.9 million compared to Q4 2020.
Product sales rose by 214% to $5.7 million, driven by increased sales of commercial chargers, DC fast chargers, and residential chargers.
Service revenues increased by 271% to $1.8 million, driven by greater utilization of chargers and an increased number of chargers on the Blink network.
Net loss for the quarter was $19.0 million, or $0.45 per share.
Blink Charging
Blink Charging
Blink Charging Revenue by Segment
Forward Guidance
Blink is excited about the opportunities to bring their industry-leading charging technology to a broader audience in the U.S. and internationally in 2022. They look forward to growing their leadership role in the development of robust and consistent EV charging infrastructure.
Positive Outlook
- Bringing industry-leading charging technology to a broader audience.
- Expanding both in the U.S. and internationally.
- Growing leadership role in EV charging infrastructure.
- More than a decade of proven success in the EV charging industry.
- Capitalizing on the growing market demand for EV charging as the transition to EVs progresses.
Revenue & Expenses
Visualization of income flow from segment revenue to net income