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Dec 31, 2023
Blink Charging Q4 2023 Earnings Report
Blink Charging reported record fourth-quarter revenue with significant year-over-year growth and outlined its targets for 2024.
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.
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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