Earnings release
Page 1
August 6 , 2026 blink BLINK CHARGING ANNOUNCES SECOND QUARTER 2026 FINANCIAL RESULTS • Gross margin expanded to 38.9 % , up more than 2,200 basis points year - over - year • Service revenues grew to $ 11.5 million , representing 53 % of total revenues • Operating expenses reduced 57 % year - over - year to $ 14.7 million • Adjusted EBITDA loss improved 72 % year - over - year to $ ( 2.2 ) million • Ended quarter with approximately $ 34 million in cash Henderson , NV . , Aug. 06 , 2026 ( GLOBE NEWSWIRE ) -- Blink Charging Co. ( NASDAQ : BLNK ) ( " Blink " or the " Company " ) , a leading global owner , operator , and provider of electric vehicle ( EV ) charging equipment and services , today announced financial results for the second quarter ended June 30 , 2026 . The following top - line highlights are in thousands of dollars : Three Months Ended June 30 , 2026 ( Sequential ) March 31 , 2026 % Change Product Revenues Service Revenues ( 1 ) $ 7,439 $ 6,194 June 30 , 2026 20.1 % $ 7,439 Three Months Ended ( YoY ) June 30 , 2025 $ % Change 14,509 ( 48.7 % ) 11,484 12,230 ( 6.1 % ) 11,484 10,809 6.2 % Other Revenues ( 2 ) Car - Sharing Revenues ( 3 ) Total Revenues $ 1,928 823 21,674 1,236 56.0 % $ 1,119 20,779 ( 26.5 % ) 4.3 % $ 1,928 823 21,674 $ 2,276 ( 15.3 % ) 1,111 ( 25.9 % ) 28,705 ( 24.5 % ) ( 1 ) Service Revenues consist of repeatable charging service revenues and recurring network fees ( 2 ) Other Revenues consist of warranty fees , grants and rebates , and other revenues ( 3 ) Car - sharing revenues have been divested after the sale of Envoy Technologies on June 5 , 2026 " Blink's second - quarter results provide further evidence of our progress toward profitability , disciplined capital management , and stronger execution across the business , ” said Mike Battaglia , President and Chief Executive Officer of Blink Charging . " We are building the company we committed to deliver - leaner , more focused , and guided by deliberate decisions that prioritize revenue quality over volume . Our 20 % sequential growth in product sales demonstrates encouraging commercial momentum , while the continued strength of the Blink Network and our expansion into energy management services are creating a more durable foundation for long - term growth and shareholder value ” .
Page 2
Michael Bercovich, Chief Financial Officer of Blink Charging added: “We’re proud to report a significant reduction in adjusted EBITDA loss, amounting to $2.2 million in Q2, a 72% year- over-year improvement. Margins are expanding, as revenue quality is improving, while costs remain well controlled. As we move through the remainder of 2026, we continue to be focused on making meaningful progress toward adjusted EBITDA breakeven by year-end. We closed out the quarter with approximately $34 million in cash, providing Blink the flexibility to continue investing strategically in high-quality opportunities. Our results validate our strategy. Blink’s disciplined portfolio optimization, contract manufacturing shift, and revenue mix help drive significant gross margin improvement and substantial reduction in operating expenses”. SECOND QUARTER 2026 FINANCIAL HIGHLIGHTS Sale of Envoy On June 5, Blink sold its wholly owned subsidiary, Envoy Technologies, to Blade Ranger Ltd., an Israeli publicly traded company. The transaction reflects Blink’s continued shift toward optimized core products and services. Revenues Total revenue for the second quarter was approximately $21.7 million, a 4.3% sequential growth from $20.8 million in the first quarter of 2026. Product revenue grew 20.1% sequentially to approximately $7.4 million in the second quarter and represents approximately 34% of total revenue. Blink continues to make meaningful progress toward its long-term objective of generating approximately 80% of revenues from recurring and repeatable revenue streams, improving the predictability, quality, and resiliency of the business. Service revenue, a key growth engine for Blink, increased 6.2% year-over-year to approximately $11.5 million, up from $10.8 million. Service revenue is comprised of repeatable charging revenue and recurring network fees. Q2 service revenue also reflects Blink's deliberate decision to pursue contracts with attractive margin profiles. Other revenues, including warranty fees as well as grants and rebates, were approximately $1.9 million. Car-Sharing revenues were $0.8 million, a decrease of 25.9% compared to the prior-year period, primarily attributable to the Blink's strategic divestiture of Envoy Technologies on June 5, 2026. Gross Profit and Margins GAAP gross profit increased to $8.4 million, or 38.9% of revenue, up from 16.8% of revenue, or $4.8 million, during the same period in 2025. This represents year-over-year growth of $3.6 million in gross profit or 75% improvement. The gross margin expansion is driven by Blink’s portfolio optimization, contract manufacturing realignment, and favorable revenue mix. On a non-GAAP basis, the adjusted gross margin was 47.9%.
Page 3
Operating Expenses Total operating expenses were $14.7 million, compared to approximately $34.4 million in the second quarter of 2025, representing a 57% reduction year-over-year. This result is influenced by structural improvements implemented throughout the Company. Cost optimization efforts resulted in significant expense reductions in the second quarter compared to the prior year period. Compensation expenses declined approximately 39% from $13.8 million in Q2 2025 to $8.4 million in Q2 2026. G&A expenses declined to approximately $1.8 million, compared to $10.7 million in the prior-year period, while other operating expenses decreased to approximately $4.1 million from approximately $6.7 million. Net Loss and Adjusted EBITDA Net loss was $6.0 million, or $(0.04) per diluted share, compared to $29.3 million loss, or $(0.28) per diluted share - totaling $23.3 million in reduced net loss year-over-year. Adjusted EBITDA loss reflected an improvement of 72% year-over-year to $(2.2) million in comparison to $(7.9) million in Q2 2025. See reconciling tables below for the definitions of non-GAAP numbers referenced above. Balance Sheet and Liquidity As of June 30, 2026, cash and cash equivalents were approximately $34.0 million, providing Blink with the financial flexibility to continue investing in high-quality DC fast charging infrastructure, energy management services, and expanding the strength of the Blink Network. Business Outlook 2026 represents an inflection year for Blink as the company completes its operational transformation and repositions the business for sustainable, higher-quality revenue growth. As these initiatives take hold, Blink expects to return to revenue growth in 2027, driven primarily by charging and energy management services. Therefore, Blink is updating its full- year 2026 revenue guidance to $83 million to $90 million, from its previous outlook of $105 million to $115 million. The revised outlook reflects the Company’s focus on revenue quality, the divestiture of Envoy Technologies and commercial decisions designed to support a sustainable path to profitability. Blink is also raising its full-year 2026 GAAP gross margin outlook to approximately 38%, compared to approximately 35% previously. The Company is targeting to exit 2026 at an approximate adjusted EBITDA breakeven and expects to provide formal 2027 guidance alongside its year-end results. Earnings Conference Call Blink will host a conference call and webcast to discuss the second quarter 2026 results today, August 6, 2026, at 4:30 p.m. Eastern Time.
Page 4
To access the live webcast, log onto the Blink Charging website at www.blinkcharging.com, and click on the News/Events section of the Investor Relations page. Investors may also access the webcast via the following link: https://www.webcaster5.com/Webcast/Page/2468/54356 . To participate in the call by phone, dial (877) 545-0523 approximately five minutes prior to the scheduled start time. International callers please dial +1 (973) 528-0016. Callers should use participant access code: 569186. A replay of the teleconference will be available until September 3, 2026, and may be accessed by dialing (877) 481-4010. International callers may dial +1 (919) 882-2331. Callers should use replay passcode: 54356. ### BLINK CHARGING CO. Condensed Consolidated Statements of Operations (in thousands, except for share and per share amounts) (unaudited) For The Three Months Ended For The Six Months Ended June 30, June 30, 2026 2025 2026 2025 Revenues: Product revenue $ 7,439 $ 14,509 $ 13,633 $ 22,889 Service revenue 11,484 10,809 23,714 20,315 Other revenue 1,928 2,276 3,164 3,933 Car-sharing revenue 823 1,111 1,942 2,286 Total Revenues 21,674 28,705 42,453 49,423 Cost of Revenues: Cost of product revenue 4,948 14,074 8,671 19,622 Cost of service revenue 5,823 6,222 13,202 11,503 Costs of other revenue 766 1,302 1,575 2,142 Cost of car-sharing revenue 598 1,067 1,632 1,752 Depreciation and amortization 1,098 1,208 2,293 2,503 Total Cost of Revenues 13,233 23,873 27,373 37,522 Gross Profit 8,441 4,832 15,080 11,901 Operating Expenses: Compensation 8,352 13,767 18,515 27,321 General and administrative expenses 1,750 10,686 5,302 17,899 Other operating expenses 4,122 6,725 7,755 12,074 Depreciation and amortization 1,715 1,432 2,782 3,087 Change in fair value of consideration payable and earn-out liabilities (1,273 ) 1,784 (1,273 ) 2,463 Total Operating Expenses 14,666 34,394 33,081 62,844 Loss From Operations (6,225 ) (29,562 ) (18,001 ) (50,943 ) Other Income (Expense): Other income, net 250 345 492 746 Total Other Income, Net 250 345 492 746 Loss Before Income Taxes $ (5,975 ) $ (29,217 ) $ (17,509 ) $ (50,197 ) Provision for income taxes (64 ) (95 ) (93 ) (123 )
Page 5
Net Loss $ (6,039 ) $ (29,312 ) $ (17,602 ) $ (50,320 ) Net Loss Per Share: Basic $ (0.04 ) $ (0.28 ) $ (0.12 ) $ (0.49 ) Diluted $ (0.04 ) $ (0.28 ) $ (0.12 ) $ (0.49 ) Weighted Average Number of Common Shares Outstanding: Basic 144,260,561 102,899,705 143,713,633 102,684,303 Diluted 144,260,561 102,899,705 143,713,633 102,684,303 BLINK CHARGING CO. Condensed Consolidated Balance Sheets (in thousands, except for share amounts) June 30, December 31, 2026 2025 Assets Current Assets: Cash and cash equivalents $ 34,004 $ 39,568 Accounts receivable, net 18,923 29,532 Inventory, net 11,287 14,153 Prepaid expenses and other current assets 6,856 6,065 Total Current Assets 71,070 89,318 Restricted cash 619 89 Property and equipment, net 40,649 42,691 Operating lease right-of-use assets 2,781 6,331 Intangible assets, net 4,765 6,634 Goodwill 1,742 1,742 Other assets 711 648 Total Assets $ 122,337 $ 147,453 Liabilities and Stockholders’ Equity Current Liabilities: Accounts payable, accrued expenses and other current liabilities $ 45,960 $ 47,242 Current portion of earn-out liabilities 713 1,005 Notes payable 265 265 Current portion of operating lease liabilities 1,305 2,781 Current portion of financing lease liabilities - 42 Current portion of deferred revenue 12,563 12,137 Total Current Liabilities 60,806 63,472 Earn-out liabilities, non-current portion - 981 Operating lease liabilities, non-current portion 2,899 4,804 Financing lease liabilities, non-current portion - 64 Deferred revenue, non-current portion 2,556 5,145 Other liabilities 8,283 8,497 Total Liabilities 74,544 82,963 Stockholders’ Equity: Preferred stock, $0.001 par value, 40,000,000 shares authorized, 0 shares issued and outstanding as of June 30, 2026 and December 31, 2025 - -
Page 6
Common stock, $0.001 par value, 500,000,000 shares authorized, 143,779,491 and 142,128,133 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively 144 142 Additional paid-in capital 897,525 895,505 Accumulated other comprehensive loss (9,848 ) (8,731 ) Accumulated deficit (840,028 ) (822,426 ) Total Stockholders’ Equity 47,793 64,490 Total Liabilities and Stockholders’ Equity $ 122,337 $ 147,453 BLINK CHARGING CO. AND SUBSIDIARIES Consolidated Statements of Cash Flows (In thousands) (unaudited) For the Six Months Ended June 30, 2026 2025 Cash Flows From Operating Activities: Net loss $ (17,602 ) $ (50,320 ) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 5,075 5,590 Non-cash lease expense 1,582 2,254 Change in fair value of derivative and other accrued liabilities - (7 ) Provision for credit losses 451 306 Loss on disposal of property and equipment 734 5,762 Gain on sale of Envoy Technologies Inc. (802 ) - Non-cash gain on lease termination (309 ) - Provision for slow moving and obsolete inventory - 4,571 Change in fair value of consideration payable and earn-out liabilities (1,273 ) 2,463 Stock-based compensation 2,022 1,753 Changes in operating assets and liabilities: Accounts receivable 9,203 9,447 Inventory 710 (369 ) Prepaid expenses and other current assets (530 ) (1,251 ) Other assets (154 ) (25 ) Accounts payable, accrued expenses, and other current liabilities 576 (7,877 ) Other liabilities (126 ) (400 ) Operating lease liabilities (1,631 ) (1,794 ) Deferred revenue (1,308 ) 1,356 Total Adjustments 14,220 21,779 Net Cash Used In Operating Activities (3,382 ) (28,541 ) Cash Flows From Investing Activities: Proceeds from sale of marketable securities - 13,630 Proceeds from sale of equity method investment - 223 Cash disposed of in sale of Envoy Technologies Inc. (485 ) - Proceeds from government grants 852 - Capitalization of engineering costs (29 ) (205 ) Purchases of property and equipment (954 ) (3,542 )
Page 7
Net Cash (Used In) Provided By Investing Activities (616 ) 10,106 Cash Flows From Financing Activities: Proceeds from sale of common stock in public offering [1] - 891 Repayment of financing liability (63 ) (17 ) Net Cash (Used In) Provided By Financing Activities (63 ) 874 Effect of Exchange Rate Changes on Cash and Cash Equivalents and Restricted Cash (973 ) 1,111 Net (Decrease) Increase In Cash and Cash Equivalents and Restricted Cash (5,034 ) (16,450 ) Cash and Cash Equivalents and Restricted Cash - Beginning of Period 39,657 41,852 Cash and Cash Equivalents and Restricted Cash - End of Period $ 34,623 $ 25,402 Cash and cash equivalents and restricted cash consisted of the following: Cash and cash equivalents $ 34,004 $ 25,318 Restricted cash 619 84 $ 34,623 $ 25,402 Non-GAAP Financial Measures The following table reconciles Net Loss attributable to Blink Charging to Non-GAAP Net Loss and Adjusted EBITDA for the periods shown: For the Three Months Ended For the Six Months Ended June 30, June 30, 2026 2025 2026 2025 Net Loss $ (6,039 ) $ (29,312 ) $ (17,602 ) $ (50,320 ) Add: Stock-based compensation 767 803 2,604 1,707 Non-recurring or non-cash charges 863 15,808 2,760 17,838 Change in fair value related to consideration payable (1,273 ) 1,784 (1,273 ) 2,463 Non-GAAP Net Loss $ (5,682 ) $ (10,918 ) $ (13,510 ) $ (28,311 ) Add: Provisions for Income Tax 64 95 93 123 Interest Expense (250 ) (345 ) (492 ) (746 ) Depreciation and Amortization 3,660 3,298 6,654 6,790 Adjusted EBITDA $ (2,208 ) $ (7,869 ) $ (7,255 ) $ (22,144 ) The following table reconciles EPS attributable to Blink Charging to Adjusted EPS for the periods shown: For the Three Months Ended For the Six Months Ended June 30, June 30, 2026 2025 2026 2025 Net Loss per Share (EPS) $ (0.04 ) $ (0.28 ) $ (0.12 ) $ (0.49 ) Add: Stock-based compensation 0.00 0.00 0.02 0.02 Non-recurring or non-cash charges 0.01 0.15 0.02 0.17 Change in fair value related to consideration payable (0.01 ) 0.02 (0.01 ) 0.02 Non-GAAP Net Loss per Share $ (0.04 ) $ (0.11 ) $ (0.09 ) $ (0.28 ) Add:
Page 8
Provisions for Income Tax 0.00 0.00 0.00 0.00 Interest Expense (0.01 ) (0.00 ) (0.00 ) (0.01 ) Depreciation and Amortization 0.03 0.03 0.04 0.07 Adjusted Loss per Share (Adj. EPS) $ (0.02 ) $ (0.08 ) $ (0.05 ) $ (0.22 ) The following table reconciles GAAP margin and operating expenses to non-GAAP margin and operating expenses for the periods shown: For the Three Months Ended June 30, 2026 2025 Reconciliation of GAAP gross profit and margin to non-GAAP gross profit and margin GAAP Margin $ 8,441 38.9 % $ 4,832 16.8 % Non-recurring or non-cash charges - 6,427 Depreciation 1,945 1,866 Non-GAAP Margin $ 10,387 47.9 % $ 13,126 45.7 % Reconciliation of GAAP operating expenses to non-GAAP operating expenses GAAP Operating Expenses $ 14,666 67.7 % $ 34,394 119.8 % Share Based Comp (767 ) (803 ) Depreciation and Amortization (1,715 ) (1,432 ) Non-recurring or non-cash charges (863 ) (9,329 ) Other Adjustments 1,273 (1,784 ) Non-GAAP Operating Expenses $ 12,595 58.1 % $ 21,047 73.3 % Blink Charging Co. publicly reports its financial information in accordance with accounting principles generally accepted in the United States of America (“US GAAP”). To facilitate external analysis of the Company’s operating performance, Blink Charging also presents financial information that is considered “non-GAAP financial measures” under Regulation G and related reporting requirements promulgated by the U.S. Securities and Exchange Commission. Non-GAAP measures should be considered in addition to, and not as a substitute for, or superior to, Net Income (Loss) or other measures of financial performance prepared in accordance with GAAP and may be different than those presented by other companies, including Blink Charging’s competitors. EBITDA and Adjusted EBITDA are not performance measures calculated in accordance with GAAP and are, therefore, considered non-GAAP measures. Blink changed the definitions of its non-GAAP reporting measures in first quarter of 2026 to align better with its peers and industry standards. Reconciliation tables are presented above. Non-GAAP Gross Profit is defined as GAAP gross profit adjusted to exclude (i) depreciation and amortization charges included in cost of revenues, and (ii) non-recurring or non-cash charges within cost of revenues (such as inventory write-downs or one-time warranty costs). Blink Charging believes Non-GAAP Gross Profit provides investors with a clearer view of the Company’s underlying operational profitability by removing the impact of asset depreciation related to its charging infrastructure build-out and non-recurring items that are not indicative of ongoing performance. Non-GAAP Gross Margin is Non-GAAP Gross Profit divided by total revenues. Non-GAAP Operating Expenses is defined as GAAP total operating expenses adjusted to exclude (i) stock-based compensation, (ii) depreciation and amortization within operating expenses, (iii) non-recurring and non-cash charges (including severance and retention
Page 9
payments, executive recruiting fees, one-time legal and consulting costs, and charges related to discontinued software or services), and (iv) other adjustments. Blink Charging believes Non-GAAP Operating Expenses is a useful measure for investors to assess the Company’s structural cost base and ongoing operating expense discipline, as it removes the impact of non-cash compensation, asset depreciation, and one-time charges that do not reflect recurring operational costs. Non-GAAP Net Loss excludes stock-based compensation, non-recurring and non-cash charges, and changes in fair value of consideration payable, but unlike Adjusted EBITDA, retains the impact of depreciation and amortization within operating expenses and interest income/expense. See “Non-GAAP Financial Measures” for a full reconciliation. Adjusted EBITDA is defined as Non-GAAP Net Loss adjusted to add back: (i) provision for income taxes; (ii) depreciation and amortization within operating expenses; less (iii) net interest and other income (expense). This reconciliation bridge corresponds directly to the line items presented in the Non-GAAP reconciliation tables above. Blink Charging believes Adjusted EBITDA is useful to management, securities analysts, and investors to evaluate the Company’s core operating performance because it removes the impact of non-cash charges, non-recurring items, financing activity, taxes, and capital investment depreciation that are not indicative of the Company’s recurring operational results. Adjusted EBITDA should be considered in addition to, and not as a substitute for, Net Loss or other measures of financial performance prepared in accordance with GAAP. Our definition of Adjusted EBITDA and Adjusted EPS may differ from other companies reporting similarly named measures. These measures should be considered in addition to, and not as a substitute for, or superior to, other measures of financial performance prepared in accordance with GAAP, such as Net Loss, and Diluted Earnings per Share. Adjusted EPS is defined as GAAP net loss per diluted share adjusted to exclude, on a per- share basis, the same non-cash and non-recurring items used in the Adjusted EBITDA reconciliation: (i) stock based compensation, (ii) non-recurring and non-cash charges, (iii) change in fair value related to consideration payable, (iv) provision for income taxes, (v) interest expense, and (vi) depreciation and amortization. Blink Charging believes Adjusted EPS is a useful supplemental measure for investors as it provides a per-share view of the Company’s core operating performance on a basis consistent with Adjusted EBITDA, excluding non-cash and non-recurring items that management does not consider reflective of the Company’s ongoing operations. Adjusted EPS should not be confused with GAAP diluted EPS and should be considered in addition to, and not as a substitute for, GAAP diluted earnings (loss) per share. Investors should be aware that non-GAAP financial measures have inherent limitations. In particular, certain adjustments to Blink’s GAAP results — such as stock-based compensation — are recurring in nature and are expected to continue for the foreseeable future; stock-based compensation is a meaningful component of employee compensation and plays an important role in Blink’s ability to attract, retain, and motivate its workforce. In addition, Blink’s non-GAAP measures are not calculated pursuant to any standardized GAAP methodology, and the specific items Blink excludes may differ from those excluded by other companies presenting similarly titled non-GAAP measures, which may limit comparability. Blink may also, in future periods, exclude additional items it determines are
Page 10
not reflective of its core operating performance. About Blink Charging Blink Charging Co. (Nasdaq: BLNK) is a global leader in electric vehicle (EV) charging equipment and services, enabling drivers, hosts, and fleets to easily transition to electric transportation through innovative charging solutions. Blink’s principal line of products and services include Blink’s EV charging networks (“Blink Networks”), EV charging equipment, and EV charging services. Blink Networks use proprietary, cloud-based software that operates, maintains, and tracks the EV charging stations connected to the network and the associated charging data. Blink has established key strategic partnerships for rolling out adoption across numerous location types, including parking facilities, multifamily residences and condos, workplace locations, health care/medical facilities, schools and universities, airports, auto dealers, hotels, mixed-use municipal locations, parks and recreation areas, religious institutions, restaurants, retailers, stadiums, supermarkets, and transportation hubs. For more information, please visit https://blinkcharging.com/ . Forward-Looking Statements This press release contains "forward-looking statements" that are subject to risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “expects,” “believes,” “will” and similar expressions, although not all forward-looking statements contain these words. Forward- looking statements are based on the Blink's current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward- looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled "Risk Factors" in Blink’s Annual Report on Form 10-K for the year ended December 31, 2025 filed with the Securities and Exchange Commission, and in subsequent periodic reports. Forward-looking statements contained in this announcement are made as of this date, and Blink undertakes no duty to update such information except as required under U.S. federal securities law. Blink Investor Relations Contact Vitalie Stelea IR@BlinkCharging.com 305-521-0200 ext. 446 Blink Media Contact Felicitas Massa PR@BlinkCharging.com 305-521-0200 ext. 266
Page 11
Source: Blink Charging Co.