Blink Charging Co. Common Stock (BLNK)
Blink Charging Co. (BLNK) is a provider of electric vehicle (EV) charging equipment and services. The company develops, manufactures, and operates public EV charging stations, supporting the growing adoption of electric mobility. Blink Charging aims to expand accessible charging infrastructure and promote sustainable transportation solutions.
Company News
Blink Charging has successfully upgraded EV charging infrastructure in Porterville, California, installing 19 DC Fast Chargers and 3 Level 2 stations across three city-owned locations, funded primarily by federal and local transportation investment.
Blink Charging acquired Zemetric, a Silicon Valley-based infrastructure company specializing in fleet EV charging solutions, to expand its smart charging infrastructure. Zemetric's founding team will join Blink's leadership to accelerate innovation and international growth.
The article discusses the importance of infrastructure in the energy transition, focusing on the trends shaping the future of electric vehicles (EVs) and energy storage. It highlights companies like Tesla, Ideal Power, Quantumscape, ChargePoint, Blink Charging, and EVgo that are driving advancements in these areas.
The electric vehicle market's growth has slowed in 2024, making the total addressable market for EV chargers smaller than once thought. Blink Charging was losing money when the market was growing faster, a problem that won't change.
Blink Charging reported Q2 2024 revenue of $33.26 million, a 1.3% year-over-year increase, and EPS of -$0.18, compared to -$0.44 a year ago. The reported revenue missed the Zacks Consensus Estimate by 15.37%, and the EPS surprise was -28.57%. The company's key metrics, including product sales, charging service revenue, and network fees, were also below analysts' estimates.
