Written by Cláudio Afonso | [email protected] | LinkedIn | X
Blink Charging reported on Thursday its first quarter earnings results disclosing a 73 percent increase of total revenues to $37.6 million. Gross profit surged 195 percent year over year to $13.4 million.
For the full year 2024, Blink reiterated its target of revenues between $165 million and $175 million, in line with the analyst consensus of $170.5 million. The company also reaffirmed the goal of achieving a positive adjusted EBITDA run rate by the end of the year.
The company targets gross margin for full year 2024 of approximately 33 percent. Blink stated that its performance in the first quarter”outpaced the industry”, demonstrating its “growing leadership role in the EV infrastructure market”.
“Importantly, our progress demonstrates the ongoing success of our strategic initiatives to leverage vertical integration capabilities and increased scale, while optimizing operations for continuous improvement across all levels of our organization,” Blink added.
In the first quarter of the year, Blink contracted, deployed or sold 4,555 charging stations.
Blink shares are trading 4 percent higher at $2.94 per share immediately after the report.
Written by Cláudio Afonso | [email protected] | LinkedIn | X
