Blink Q1 revenues $21.7M (+121% YoY); net loss $29.8M; guidance $100-110M for FY2023

Total Revenues increased 121% to $21.7 million for the first quarter of 2023 compared to the first quarter of 2022. Product Sales increased 104% to $16.4 million in the first quarter of 2023, an increase of $8.3 million from the same period in 2022 primarily driven by increased sales of commercial chargers, DC fast chargers, and residential chargers, as well as revenues from the 2022 acquisitions. Service Revenues, which consist of charging service revenues, network fees, and ride-sharing service revenues, increased 216% to $4.8 million in the first quarter of 2023, up $3.3 million from the first quarter of 2022, primarily driven by greater utilization of chargers, an increased number of chargers on the Blink networks, revenues associated with the Blink Mobility ride-sharing service program, and revenues from the 2022 acquisitions. Other Revenues, which are comprised of warranty fees, grants and rebates, and other revenues, increased 113% to $514 thousand in the first quarter of 2023,

With our visibility today, for full year 2023, we continue to target revenues in the range of $100 million to $110 million and gross margin in excess of 30%.