Blink Charging Q2 revenue up 186% to $32.8M; raises FY2023 revenue guidance to $110-120M

Blink Charging Co.

2023-Q2 EPS reported -$1.20 revenue$54,510,000

Total revenues $32.8M (+186% YoY); product sales $24.6M (+179%), service revenues $7.0M (+211%).
Gross profit $12.3M (+528% YoY); gross margin 37% vs 17% in Q2 2022.
Raises 2023 revenue target to $110-120M (from $100-110M); targets positive adj. EBITDA run-rate by Dec 2024.
Net loss $(41.5M) or $(0.67)/share vs $(22.6M) or $(0.52)/share; includes one-time severance and CEO/CTO costs.
Adjusted EBITDA loss improved to $(13.5M) from $(15.6M); 5,830 stations contracted/deployed/sold in Q2.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Blink Charging Co. reported the second quarter ended June 30, 2023 results: revenue $32.8 million, net income $(0.67) per share, EPS $(0.67). Guidance raised.

Period: the second quarter ended June 30, 2023
Revenue: $32.8 million
Net income: $(0.67) per share
EPS: $(0.67)
Guidance: raised
Result: reported results

Exact text from the filing

raises 2023 revenue target to $110 - $120 million and targets adjusted EBITDA break even run rate by December 2024 ● Second quarter 2023 total revenues increased 186% to $32.8 million compared to $11.5 million in second quarter of 2022 ● 211% increase in service revenues (1) to $7.0 million in second quarter of 2023 compared to $2.2 million in second

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Source: SEC EDGAR

accession 0001493152-23-027184

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