Blink Charging Q4 2023 Earnings Report
Key Takeaways
Blink Charging announced record fourth-quarter revenue of $42.7 million, an 89% increase compared to the fourth quarter of 2022. The company's full-year revenue for 2023 increased by 130% to $140.6 million. Blink Charging is targeting between $165 million to $175 million in revenues for the full year 2024 and reiterates its target of achieving a positive adjusted EBITDA run rate by December 2024.
Total revenue increased by 89% to $42.7 million in Q4 2023 compared to Q4 2022.
Product sales increased by 112% to $33.4 million in Q4 2023.
Service revenues increased by 40% to $7.9 million in Q4 2023.
Net loss for the fourth quarter of 2023 was $19.7 million, or $(0.28) per share, compared to a net loss of $28.1 million, or $(0.55) per share in the fourth quarter of 2022.
Blink Charging
Blink Charging
Blink Charging Revenue by Segment
Forward Guidance
For the full year 2024, the Company targets the generation of between $165 million to $175 million in revenues 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
- Targeting revenue between $165 million and $175 million for full year 2024.
- Reiterating target of achieving a positive adjusted EBITDA run rate by December 2024.
- Targeting gross margin for full year 2024 of approximately 33%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income