Blink Charging Co. Reports 14% Revenue Decline and Increased Net Loss in Q2 2025

Blink Charging Co. reported a significant decline in financial performance for the second quarter of 2025, with total revenues of $28.7 million, a decrease of 14% from $33.3 million in the same period last year. For the first half of 2025, revenues fell by 30% to $49.4 million compared to $70.8 million in the first half of 2024. The decline was primarily driven by a 38% drop in product sales, which totaled $14.5 million, down from $23.6 million. However, charging service revenue from company-owned stations increased by 56% to $7.7 million, reflecting higher utilization rates and an expanded number of chargers on the Blink Networks.

The company's net loss for the second quarter was $32.0 million, a 59% increase from a loss of $20.1 million in the prior year. For the first half of 2025, the net loss reached $52.7 million, compared to $37.2 million in the same period of 2024. The increase in losses was attributed to rising operating expenses, which totaled $34.3 million for the quarter, up from $31.4 million a year earlier. Notably, general and administrative expenses surged by 48% to $11.8 million, driven by increased credit loss reserves and other operational costs.

In terms of operational metrics, Blink Charging reported a total of 110,828 chargers contracted, sold, or deployed as of June 30, 2025, with 88,168 connected to the Blink Networks. The company also noted a significant increase in network fee revenues, which rose by 55% to $3.0 million, attributed to a higher number of host-owned units. Despite these positive indicators, the overall financial health of the company remains concerning, with cash and cash equivalents decreasing to $25.3 million from $41.8 million at the end of 2024, raising doubts about its ability to sustain operations without additional funding.

Strategically, Blink has been active in expanding its market presence and product offerings. The company recently acquired Zemetric, a provider of charging infrastructure tailored for fleet and multi-family applications, which is expected to enhance its service capabilities. Additionally, Blink's subsidiary, Envoy Technologies, is pursuing a public listing, which could provide further capital to support growth initiatives. However, the company faces challenges, including the need for a capital infusion to address ongoing operational losses and the uncertainty surrounding the broader electric vehicle market.

Looking ahead, Blink Charging's management has acknowledged substantial doubt about the company's ability to continue as a going concern within the next year without significant improvements in cash flow or additional funding. The company is exploring various strategic alternatives, including cost-reduction initiatives and potential asset sales, but there is no assurance that these efforts will yield the necessary liquidity to stabilize operations.