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BLINK CHARGING ANNOUNCES SECOND QUARTER 2025 RESULTS

• Second quarter 2025 total revenues grew 38% sequentially to $28.7 million compared to the first quarter of 2025
• Second quarter 2025 service revenues grew 46% year-over-year to $11.8 million
• Company incurred approximately $16.5 million in largely one-time, non-cash charges in the quarter
• Reduced compensation expenses by 22% year-over-year; eliminated $8 million in annualized expenses through efficiencies
• Subsequent to quarter end, Blink acquired Zemetric, Inc., a charging infrastructure company with tailored solutions for fleets, multi-family, and commercial applications
• Following the close of the second quarter, the Company announced an agreement with the former shareholders of Envoy Technologies, its wholly owned subsidiary, releasing Blink from all payment obligations and liability in exchange for stock and performance-based warrants.

Bowie, MD, Aug. 18, 2025 (GLOBE NEWSWIRE) -- Blink Charging Co. (NASDAQ: BLNK) (鈥淏link鈥�), 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, 2025.

The following top-line highlights are in thousands of dollars:

(1)听听听听听听听听Service Revenues consist of repeat charging service revenues, recurring network fees, and car-sharing service revenues.
(2)听听听听听听听听Other Revenues consist of warranty fees, grants and rebates, and other revenues.

Mike Battaglia, President and Chief Executive Officer of Blink Charging, commented, 鈥淲e made solid progress in the second quarter, achieving consolidated revenues of $28.7 million, reflecting growth of 38% sequentially as compared to the first quarter of 2025, highlighted by a 73% sequential increase in product sales and an 11% sequential increase in service revenues. Furthermore, although we incurred $16.5 million in largely one-time, non-cash charges this quarter, we reduced our ongoing annual operating expenses by approximately $8 million, reflecting our commitment to enhancing efficiencies across the business.鈥�

Acquisition of Zemetric, Inc.

Following the close of the second quarter, Blink announced its acquisition of Zemetric, Inc., a charging infrastructure company with tailored solutions for fleets, multi-family, and commercial applications. Zemetric brings market-leading hardware, software and service solutions designed and built to be interoperable and highly reliable to scale electrification. Zemetric鈥檚 founding team has joined Blink and includes Harmeet Singh, who now serves as Blink鈥檚 Chief Technology Officer; Bonnie Datta, Senior Vice President of Global Commercial Operations; and Kapil Singhi, VP of Hardware and Firmware Engineering.

Mr. Battaglia continued, 鈥淥ur recent acquisition of Zemetric, Inc., expands our portfolio of offerings and we are particularly excited to add their intelligent and flexible L2 products. This addition enables us to offer value-oriented charging solutions that were not previously part of our product lineup. We are also pleased to welcome Zemetric鈥檚 founder and CEO, Harmeet Singh, who has joined Blink as Chief Technology Officer. At Zemetric, Harmeet developed state-of-the-art software solutions designed to enhance interoperability and reduce the total cost of ownership for fleets. Harmeet is a proven executive in our industry and is the ideal leader to drive technology excellence within Blink, as well as oversee the integration of Zemetric鈥檚 complementary technological capabilities.鈥�

Envoy Technologies Update

On August 6, 2025, Blink announced that it has reached an agreement with the former shareholders of its wholly owned subsidiary, Envoy Technologies, Inc. (鈥淓nvoy鈥�), a leading provider of on-demand electric vehicle car-sharing services for real estate companies, to amend the organization鈥檚 planned merger agreement. The amended agreement releases Blink from all payment obligations and liability following the issuance of $10 million in shares of Company common stock, based on the volume-weighted average trading price for the 25 trading days preceding the issuance date, and warrants exercisable for shares of Company common stock with an aggregate notional value of $11 million, divided into three tranches with vesting conditions as follows:

• $2.5 million worth of warrants that will vest upon the common stock of Blink reaching a price per share of $1.70 for seven consecutive days;
• $2.5 million worth of warrants that will vest upon the common stock of Blink reaching a price per share of $2.10 for seven consecutive days; and
• $6 million worth of warrants that will vest upon the common stock of Blink reaching a price per share of $4.85 for seven consecutive days.

These warrants will expire 20 months after their issuance date. Further details of the agreement may be found .

Business Outlook

Based on current visibility, Blink expects to achieve continued sequential revenue growth in the second half of 2025. Looking ahead, the Company expects to maintain strong momentum across both its recurring and repeatable charging revenue streams. Recurring revenues, derived primarily from network fees, are expected to benefit from the expanding installed base of chargers. At the same time, the Company expects growth in repeatable charging revenue as it scales its EV charging infrastructure, driven by increased utilization and rising energy prices.

The Company remains committed to advancing operational efficiency through disciplined expense management and targeted initiatives aimed at lowering operating costs and reducing cash burn. These efforts are central to the Company鈥檚 strategy to strengthen the business model and define a clear path to profitability.

Second Quarter and First Six Months 2025 Financial Results

Revenues

Total Revenues were $28.7 million for the second quarter of 2025, compared to revenues of $33.3 million in the second quarter of 2024. Second quarter revenues grew 38% sequentially compared to revenue of $20.8 million in the first quarter of 2025. For the first six months of 2025, Blink reported total revenue of $49.4 million compared to revenue of $70.8 million in the first six months of 2024.

Product Revenues were $14.5 million in the second quarter of 2025, compared to $23.6 million in the second quarter of 2024. In the first six months of 2025, product revenues were $22.9 million compared to $51.1 million in the first six months of 2024. Sequentially, product revenues grew 73%, primarily driven by demand for DC fast chargers and L2 Series chargers, compared to the first quarter of 2025.

Service Revenues, which consist of repeat charging service revenues, recurring network fees, and car-sharing service revenues, increased by $3.7 million or 46% to $11.8 million in the second quarter of 2025, compared to service revenues of $8.0 million in the second quarter of 2024, primarily driven by greater utilization of chargers and an increased number of chargers on the Blink networks. Sequentially, service revenues increased 11% as compared to the first quarter of 2025.

Service Revenues for the first six months of 2025 were $22.3 million, an increase of 38% compared to service revenues of $16.2 million in the same prior year period.

Other Revenues, which are comprised of warranty fees, grants and rebates, and additional sources, were $2.4 million in the second quarter of 2025, compared to $1.6 million in the second quarter of 2024. For the first six months of 2025, other revenues were $4.2 million as compared to $3.5 million in the first six months of 2024.

Gross Profit

Gross Profit was $2.1 million, or 7% of revenues in the second quarter of 2025, compared to gross profit of $10.7 million, or 32% of revenues, in the second quarter of 2024. Gross profit in the first six months of 2025 was $9.5 million or 19% of revenues compared to $24.1 million or 34% of revenues in the same prior year period. For the three and six months of 2025, gross profit was impacted primarily by non-cash inventory and PP&E adjustment of $6.4 million related to obsolete inventory and PP&E items. Excluding the impact of this largely one-time, non-cash charge, the gross profit in the second quarter of 2025 would have been $8.5 million or 30% gross profit margin.

Operating Expenses

Operating expenses in the second quarter of 2025 were $34.3 million compared to $31.4 million in the second quarter of 2024. In the first six months of 2025, operating expenses were $62.8 million compared to $62.3 million in the first six months of 2024.

Operating expenses in the second quarter of 2025 include approximately $10.1 million of largely one-time, non-cash charges, primarily related to assets impairment, fair value changes in Envoy consideration payable, stock-based compensation, and doubtful accounts receivable reserve expenses. Excluding the impact of these non-cash charges, operating expenses in the second quarter of 2025 would have been $24.2 million.

Net Loss and Loss Per Share

Net Loss for the second quarter of 2025 was ($32.0) million, or ($0.31) per basic and diluted share, compared to a net loss of ($20.1) million, or ($0.20) per basic and diluted share in the second quarter of 2024. Net loss in the first six months of 2025 was ($52.7) million or (0.51) per basic and diluted share, compared to a net loss in the first six months of 2024 of ($37.2) million or ($0.37) per basic and diluted share.

As of June 30, 2025, the weighted average number of shares outstanding was 102.9 million. As of June 30, 2024, the weighted average number of shares outstanding was 101.0 million.

Adjusted EBITDA and Adjusted EPS

Adjusted EBITDA for the second quarter of 2025 was a loss of ($24.5) million compared to an adjusted EBITDA loss of ($14.7) million in the second quarter of 2024. Adjusted EBITDA for the first six months of 2025 was a loss of ($39.9 million) compared to an adjusted EBITDA loss of ($24.9) million in the first six months of 2024.

Adjusted EBITDA (defined as earnings/loss before interest income/expense, provision for income taxes, depreciation and amortization, stock-based compensation, acquisition related costs, estimated loss related to underperforming assets of subsidiary, change in fair value related to Envoy consideration payable, and assets impairment is a non-GAAP financial measure management uses as a proxy for net income/loss. See 鈥淣on-GAAP Financial Measures鈥� for a reconciliation of GAAP to Non-GAAP financial measures included at the end of this release.

Adjusted EPS for the second quarter of 2025 was a loss of ($0.26) compared to an adjusted EPS loss of ($0.18) in the second quarter of 2024. Adjusted EPS in the first six months of 2025 was a loss of ($0.45) compared to an adjusted EPS loss of ($0.31) in the first six months of 2024.

Adjusted EPS (defined as earnings/loss per diluted share) is a non-GAAP financial measure management uses to assess earnings/loss per diluted share excluding non-recurring items such as amortization expense of intangible assets, estimated loss related to underperforming assets of subsidiary, change in fair value related to Envoy consideration payable and assets impairment. See 鈥淣on-GAAP Financial Measures鈥� for a reconciliation of GAAP to Non-GAAP financial measures included at the end of this release.

Cash Liquidity

As of June 30, 2025, cash, cash equivalents, and marketable securities totaled $25.3 million compared to $55.4 million as of December 31, 2024. Blink had no cash debt as of June 30, 2025.

Second Quarter 2025 Highlights:

• Michael Bercovich was named Chief Financial Officer of Blink. He previously served as Chief Financial Officer at Helios Global Payments Solutions, MyOutDesk, Cialfo and Elements Global Services, where he led a variety of functions, such as finance and operations, corporate development, investor relations, treasury, and strategic initiatives including fundraising. He has a proven record of establishing and managing global financial operations, treasury and tax in over 40 countries.
• Blink and Axxeltrova Capital entered into a non-binding term sheet with respect to the previously proposed 拢100 million Special Purpose Vehicle (SPV) to support growth in EV charging development across the UK through the Local Electric Vehicle Infrastructure (LEVI) program.
• Alex Calnan was named Managing Director of Europe, leading Blink鈥檚 efforts throughout the continent, including the United Kingdom, Ireland, Belgium, and the Netherlands. He previously served as Managing Director of the UK subsidiary, Blink Charging UK Ltd (鈥淏link UK鈥�)
• Blink, WirelessCar and ChargeHub have teamed to collaborate to launch an innovative 鈥楽eamless Charging鈥� pilot program in the United States and Canada. This ground-breaking initiative is designed to redefine the EV charging experience, making it faster, easier, and more accessible for drivers.
• Blink UK executed a contract with North Hertfordshire Council to install and operate 18 new EV charging stations in strategic locations throughout North Hertfordshire, bringing the total of charging stations across the entire Hertfordshire County to just under 1,000 units. The initiative provides residents, businesses, and visitors greater access to reliable and efficient charging facilities.

Earnings Conference Call

Blink Charging will host a conference call and webcast to discuss second quarter 2025 results today, August 18, 2025, at 4:30 PM, Eastern Time.

To access the live webcast, log onto the Blink Charging website at , and click on the News/Events section of the Investor Relations page. Investors may also access the webcast via the following link:

To participate in the call by phone, dial (888) 506-0062 approximately five minutes prior to the scheduled start time. International callers please dial (973) 528-0011. Callers should use access code: 977675.

A replay of the teleconference will be available until September 17, 2025, and may be accessed by dialing (877) 481-4010. International callers may dial (919) 882-2331. Callers should use conference ID: 52781.

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BLINK CHARGING CO.

Condensed Consolidated Statements of Operations
(in thousands, except for share and per share amounts)
(unaudited)

BLINK CHARGING CO.

Condensed Consolidated Balance Sheets
(in thousands, except for share amounts)

BLINK CHARGING CO. AND SUBSIDIARIES

Consolidated Statements of Cash Flows
(In thousands)
(unaudited)

Non-GAAP Financial Measures

The following table reconciles Net Loss attributable to Blink Charging to EBITDA and Adjusted EBITDA for the periods shown:

The following table reconciles EPS attributable to Blink Charging to Adjusted EPS for the periods shown:

Blink Charging Co. publicly reports its financial information in accordance with accounting principles generally accepted in the United States of America (鈥淯S GAAP鈥�). To facilitate external analysis of the Company鈥檚 operating performance, Blink Charging also presents financial information that is considered 鈥渘on-GAAP financial measures鈥� 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鈥檚 competitors. EBITDA and Adjusted EBITDA are not performance measures calculated in accordance with GAAP and are therefore considered non-GAAP measures. Reconciliation tables are presented above.

EBITDA is defined as earnings (loss) attributable to Blink Charging before interest income (expense), provision for income taxes, depreciation and amortization. Blink Charging believes EBITDA is useful to its management, securities analysts, and investors in evaluating operating performance because it is one of the primary measures used to evaluate the economic productivity of the Company鈥檚 operations, including its ability to obtain and maintain its customers, its ability to operate its business effectively, the efficiency of its employees and the profitability associated with their performance. It also helps Blink Charging鈥檚 management, securities analysts, and investors to meaningfully evaluate and compare the results of the Company鈥檚 operations from period to period on a consistent basis by removing the impact of its merger and acquisition expenses, financing transactions, and the depreciation and amortization impact of capital investments from its operating results.

The Company also believes that Adjusted EBITDA, defined as EBITDA adjusted for non-recurring or non-cash items such as stock-based compensation, acquisition related costs, estimated loss related to sale of underperforming assets of subsidiary, change in fair value related to consideration payable, and assets impairment is useful to securities analysts and investors to evaluate the Company鈥檚 core operating results and financial performance because it excludes items that are significant non-cash or non-recurring expenses reflected in the Condensed Consolidated Statements of Operations.

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.

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鈥檚 principal line of products and services include Blink鈥檚 EV charging networks (鈥淏link Networks鈥�), 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 .

Forward-Looking Statements

This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements, and terms such as 鈥渁nticipate,鈥� 鈥渆xpect,鈥� 鈥渋ntend,鈥� 鈥渕ay,鈥� 鈥渨ill,鈥� 鈥渟hould鈥� or other comparable terms, involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. Those statements include statements regarding the intent, belief or current expectations of Blink and members of its management, as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, including achieving its 2025 revenue and gross margin targets and its projected 2025 adjusted EBITDA run rate and timeline, and the risk factors described in Blink鈥檚 periodic reports filed with the SEC, and that actual results may differ materially from those contemplated by such forward-looking statements. Except as required by federal securities law, Blink Charging undertakes no obligation to update or revise forward-looking statements to reflect changed conditions.

Blink Investor Relations Contact
Vitalie Stelea

305-521-0200 ext. 446

Blink Media Contact
Felicitas Massa

305-521-0200 ext. 266