Blink Charging Co. (NASDAQ:BLNK) released its first-quarter results after Monday's closing bell. Here's a look at the key figures from the quarter.
The Details: Blink reported quarterly losses of 18 cents per share, which missed the analyst consensus estimate of losses of 14 cents. Quarterly revenue came in at $20.75 million, which missed the Street estimate of $27.6 million and is down from revenue of $37.57 million in the prior year’s quarter.
For the first quarter, Blink reported:
First-quarter 2025 service revenues grew 29.2% to $10.6 million compared to $8.2 million in the first quarter of 2024.
Gross margin of 35.5.
The company added 319 Blink-owned chargers to its network in the quarter.
“While first quarter revenue fell short of expectations primarily due to the uncertain economic climate impacting customers’ discretionary spending decisions, we remain confident in the essential growth of EV charging infrastructure globally. Blink’s advanced solutions and flexible offerings strongly position us to capitalize on this expansion,” said commented Mike Battaglia, CEO of Blink Charging.
“Encouragingly, charging revenue grew by 35% in the quarter, demonstrating continued momentum primarily driven by the increased utilization of Blink chargers,” Battaglia added.
BLNK Price Action: According to data from Benzinga Pro, Blink Charging stock was down 8.04% at 80 cents after-hours Monday.
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