Press Releases

BLINK CHARGING ANNOUNCES RECORD FOURTH QUARTER WITH 89% REVENUE GROWTH TO $42.7 MILLION AND 130% INCREASE IN FULL YEAR 2023 REVENUES TO $140.6 MILLION

  • 89% increase in 4Q23 revenues to $42.7 million; 130% increase in full year 2023 revenues to $140.6 million
  • 112% increase in 4Q23 product revenues to $33.4 million; 138% increase in full year product revenues to $109.4 million
  • 40% increase in 4Q23 service revenues to $7.9 million; 111% increase in full year service revenues to $26.4 million
  • 4Q23 gross profit of $10.6 million or 25% of revenues; record full year 2023 gross profit of $40.2 million or 29% of revenues
  • Strengthened balance sheet and improved liquidity by raising $113 million in gross proceeds via ATM and paid off $45.5 million in promissory notes and accrued interest
  • 5,100 charging stations contracted, deployed or sold in fourth quarter of 2023; 23,347 in full year 2023

Bowie, MD, March 14, 2024 (GLOBE NEWSWIRE) -- Blink Charging Co. (Nasdaq: BLNK) (“Blink” or the “Company”), a leading manufacturer, owner, operator, and provider of electric vehicle (EV) charging equipment and services, today announced financial results for the fourth quarter and year ended December 31, 2023.

The following top-line highlights are in thousands of dollars and preliminary.

  Three Months Ended        Full Year Ended    
  December 31,        December 31,    
  2023   2022   Increase   2023   2022   Increase
Product Sales $ 33,381     $ 15,780     112 %   $ 109,416   $ 46,018     138 %
Service Revenues (1)   7,938       5,673     40 %     26,429     12,504     111 %
Other Revenues(2)   1,392       1,153     21 %     4,753     2,617     82 %
Total Revenues  $ 42,711      $ 22,606     89 %   $ 140,598   $ 61,139     130 %
                                         

(1) Service Revenues consist of charging service revenues, network fees, and car-sharing service revenues.

(2) Other Revenues consist of warranty fees, grants and rebates, and other revenues.

“2023 was a historic year for Blink marked by significant achievements and remarkable growth. Total revenue grew 130% compared to 2022, and represents a 671% increase over 2021, fueled by strong demand and our ability to deliver operational excellence, with an intent focus on continuously improving and optimizing our products and services. This year we began to see the benefits of our new Blink network, which has a significantly improved user interface and experience, resulting in a more seamless charging ecosystem for our valued customers. Operationally, we achieved a significant milestone with the recent opening and start of production at our state-of-the-art manufacturing facility in the greater Washington D.C. area. This facility is a cornerstone of our ‘made in America’ initiative, and is expected to bolster production capacity, enhance profitability, and reduce operating costs as demand for our products continues to grow. Additionally, we established our corporate global headquarters near our nation’s capital to better align with our operational activities, consolidate facilities and reduce corporate overhead. We have developed and continue to expand a diverse and robust product portfolio, which continues to attract prominent clients such as the United States Postal Service and Mack Trucks, illustrating the appeal of our charging solutions for fleet applications,” commented Brendan S. Jones, President and Chief Executive Officer of Blink Charging.

“We are very optimistic about Blink's future and remain committed to our target of achieving a positive adjusted EBITDA run rate by December 2024. Since the third quarter 2023, we have raised $113 million in gross proceeds via our ATM under favorable market conditions. As a result, we paid off promissory notes and accrued interest of $45.5 million, strengthening our balance sheet and enhancing our trajectory toward reaching a positive adjusted EBITDA run rate. Blink is the only fully vertically integrated U.S.-based EV charging company and a well-recognized provider of charging hardware, software, and services on a global scale. Our distinctive owner/operator model positions us to generate revenue from the sale of charging equipment and to benefit from increased charging utilization, both in the U.S. and Europe. As the adoption of electric vehicles continues to gain momentum, we are confident in our ability to capitalize on the anticipated expansion of the EV charging infrastructure, both domestically and internationally.”

2024 Company Targets

For the full year 2024, the Company targets the generation of between $165 million to $175 million in revenues and reiterates its target of achieving a positive adjusted EBITDA run rate by December 2024. See “Non-GAAP Financial Measures” below for further information.

The Company targets gross margin for full year 2024 of approximately 33%.

Fourth Quarter and Year End 2023 Financial Results

Revenues
Total Revenues increased 89% to $42.7 million for the fourth quarter of 2023 compared to the fourth quarter of 2022, an increase of $20.1 million.

Total Revenues for the full year of 2023 increased 130% to $140.6 million, an increase of $79.5 million compared to the full year of 2022.

Product Sales increased 112% to $33.4 million in the fourth quarter of 2023, an increase of $17.6 million from the same period in 2022, primarily driven by strong demand for our charging equipment and services and our ability to satisfy demand.

Product Sales for the full year of 2023 increased 138% to $109.4 million, an increase of $63.4 million compared to the full year of 2022.

Service Revenues, which consist of charging service revenues, network fees, and car-sharing service revenues, increased 40% to $7.9 million in the fourth quarter of 2023, an increase of $2.3 million from the fourth quarter of 2022, primarily driven by greater utilization of chargers in the U.S. and internationally, an increased number of chargers on the Blink networks, and revenues associated with the Blink Mobility car-sharing service program.

Service Revenues for the full year of 2023 increased 111% to $26.4 million, an increase of $13.9 million compared to the full year of 2022.

Other Revenues, which are comprised of warranty fees, grants and rebates, and other revenues, increased 21% to $1.4 million in the fourth quarter of 2023, an increase of $239,000.

Other Revenues for the full year of 2023 increased 82% to $4.8 million, an increase of $2.1 million compared to the full year of 2022.

Gross Profit
Gross Profit increased 63% to $10.6 million, or 25% of revenues, in the fourth quarter of 2023, compared to gross profit of $6.5 million, or 29% of revenues, in the fourth quarter of 2022. Gross margin decreased in the fourth quarter of 2023 primarily due to increased warranty and maintenance expenditures as well as adjustments related to discontinued components.

Gross profit for the full year of 2023 was $40.2 million, or 29% of revenues, compared to gross profit of $14.8 million, or 24% of revenues in the full year of 2022.

Operating Expenses

Operating expenses in the fourth quarter of 2023 decreased 16% to $28.7 million compared to $34.2 million in the fourth quarter of 2022.

Operating expenses for the full year of 2023 were $239.9 million compared to $104.1 million in the full year of 2022. The increase in operating expenses for the full year is primarily driven by $105.9 million related to a non-cash goodwill and intangible assets impairment charge as well as the impact of a one-time, non-recurring payment to our former CEO and a non-recurring bonus expense related to the performance milestone achieved by our CTO relating to the design and launch of Blink’s recently implemented new network.

Net Loss and Loss Per Share
Net Loss for the fourth quarter of 2023 was $19.7 million, or $(0.28) per share, compared to a net loss of $28.1 million, or $(0.55) per share in the fourth quarter of 2022.

Net loss for the full year of 2023 was $203.7 million, or $(3.21) per share, compared to a net loss of $91.6 million, or $(1.95) per share in the full year of 2022. The increase of $1.67 in loss per share was primarily attributable to the non-cash goodwill and intangible assets impairment charge and the impact of a one-time non-recurring payment to our former CEO, as well as a non-recurring bonus expense related to the performance milestone achieved by our CTO relating to the design and launch of Blink’s recently implemented new network.

Adjusted EBITDA and Adjusted EPS
Adjusted EBITDA for the fourth quarter of 2023 was a loss of ($14.0) million compared to an adjusted EBITDA loss of $14.8 million in the prior year period.

Adjusted EBITDA for the full year of 2023 was a loss of ($57.0) million compared to an adjusted EBITDA loss of $60.3 million in the full year of 2022.

Adjusted EBITDA (defined as earnings/loss before interest income/expense, provision for income taxes, depreciation and amortization, stock-based compensation, acquisition related costs, one-time non-recurring expense, non-cash impairment charges, and non-cash loss on extinguishment of notes payable) is a non-GAAP financial measure management uses as a proxy for net income/loss. See “Non-GAAP Financial Measures” for a reconciliation of GAAP to Non-GAAP financial measures included at the end of this release.

Adjusted EPS for the fourth quarter of 2023 was a loss of $(0.28) compared to an adjusted EPS loss of $(0.41) in the fourth quarter of 2022.

Adjusted EPS for the full year of 2023 was a loss of $(1.42) compared to an adjusted EPS loss of $(1.65) in the full year of 2022.

Adjusted EPS (defined as earnings/loss per diluted share) is a non-GAAP financial measure management uses to assess earnings per diluted share excluding non-recurring items such as acquisition-related costs, amortization expense of intangible assets, additional stock-based compensation expense, one-time non-recurring expense, non-cash impairment charges, and non-cash loss on extinguishment of notes payable. See “Non-GAAP Financial Measures” for a reconciliation of GAAP to Non-GAAP financial measures included at the end of this release.

Cash and Cash Equivalents
As of December 31, 2023, Cash and Cash Equivalents totaled $121.7 million, an increase of $85.1 million compared to $36.6 million at December 31, 2022. During fourth quarter 2023, the Company raised $88 million in gross proceeds via the existing ATM.

In total, between November 20, 2023 to February 12, 2024, the Company raised $113 million in cost-effective gross proceeds via ATM stock sales and paid off the outstanding principal balance of promissory notes and accrued interest of $45.5 million.

Recent Quarter Highlights:

  • Rebranded wholly owned subsidiary Blue Corner under Blink Charging umbrella, bringing Blink’s global experience and EV charging expertise to Belgium
  • Launched advanced Vehicle-to-Grid (V2G) EQ 200 charger in the United Kingdom and Ireland to support accelerated EV adoption and boost development of an effective EV charging infrastructure
  • Selected as the full-service EV infrastructure provider for Mack Trucks through Mack’s Vendor Direct Ship and Turnkey Solutions program for Blink’s reliable, scalable EV equipment and extensive fleet experience
  • Selected as the official electric vehicle charging provider to the City of Miami Beach, Florida to electrify city fleets and provide charging solutions for employees, residents, and visitors
  • Named as the official EV charging provider for Allegiant Stadium, home of the Las Vegas Raiders, providing much-needed reliable EV charging solutions for stadium attendees
  • Chosen by the City of Frederick, Maryland to install chargers across four downtown parking garages to be utilized by residents and visitors
  • Collaborated with McArthurGlen, the leading owner, developer, and manager of designer outlets in the Netherlands, to provide customers state-of-the-art EV charging solutions
  • Installed Blink electric vehicle chargers across multiple McDonald’s restaurant locations throughout Puerto Rico
  • Continued to support Blink’s partner, AES, in efforts to provide EV drivers throughout country of El Salvador with accessible and easy EV charging

Earnings Conference Call

Blink Charging will host a conference call and webcast to discuss fourth quarter and year end 2023 results today, March 14, 2024, at 4:30 PM, Eastern Time. To access the live webcast, log onto the Blink Charging website at www.blinkcharging.com, and click on the News/Events section of the Investor Relations page. Investors may also access the webcast via the following link:
https://www.webcaster4.com/Webcast/Page/2468/50001

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: 911397.

A replay of the teleconference will be available until April 13, 2024, and may be accessed by dialing (877) 481-4010. International callers may dial (919) 882-2331. Callers should use conference ID: 50001.

###

BLINK CHARGING CO.

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

      For The Three Months Ended   For the Years Ended
      December 31,   December 31,
        2023       2022       2023       2022    
                     
Revenues:                
  Product sales $ 33,381     $ 15,780     $ 109,416     $ 46,018    
  Charging service revenue - company-owned charging stations   4,535       3,009       15,646       6,866    
  Network fees   2,213       2,281       7,481       4,370    
  Warranty   1,095       453       3,258       928    
  Grant and rebate   185       13       469       296    
  Car-sharing services   1,190       383       3,302       1,268    
  Other   112       687       1,026       1,393    
                     
    Total Revenues   42,711       22,606       140,598       61,139    
                     
Cost of Revenues:                
  Cost of product sales   23,023       10,294       72,532       31,428    
  Cost of charging services - company-owned charging stations   1,344       697       3,540       1,466    
  Host provider fees   2,855       1,590       9,140       3,935    
  Network costs   630       539       1,969       1,463    
  Warranty and repairs and maintenance   1,681       1,358       4,605       2,795    
  Car-sharing services   1,194       582       4,356       2,137    
  Depreciation and amortization   1,397       1,068       4,250       3,113    
                     
    Total Cost of Revenues   32,124       16,128       100,392       46,337    
                     
    Gross Profit   10,587       6,478       40,206       14,802    
                     
Operating Expenses:                
  Compensation   16,702       22,959       92,669       60,602    
  General and administrative expenses   8,704       7,803       35,170       27,826    
  Other operating expenses   3,270       3,486       17,825       15,645    
  Impairment of goodwill   -       -       89,087       -    
  Impairment of intangible assets   -       -       5,143       -    
                     
    Total Operating Expenses   28,676       34,248       239,894       104,073    
        -       -            
    Loss From Operations   (18,089 )     (27,770 )     (199,688 )     (89,271 )  
                     
Other (Expense) Income:                
  Interest (expense) income   (1,173 )     (473 )     (3,546 )     (1,529 )  
  Dividend income   1,909       454       1,909       454    
  Gain (loss) on foreign exchange   (785 )     236       140       (600 )  
  Loss on extinguishment of notes payable   -       -       (1,000 )     -    
  Change in fair value of derivative and other accrued liabilities   (2 )     31       8       66    
  Other expense   (1,280 )     (319 )     (22 )     (372 )  
                     
    Total Other (Expense) Income   (1,331 )     (71 )     (2,511 )     (1,981 )  
        -       -            
    Loss Before Income Taxes $ (19,420 )   $ (27,841 )   $ (202,199 )   $ (91,252 )  
        -       -            
  Provision for income taxes   (269 )     (308 )     (1,494 )     (308 )  
        -       -            
    Net Loss $ (19,689 )   $ (28,149 )   $ (203,693 )   $ (91,560 )  
    Net Loss Per Share:                
    Basic $ (0.31 )   $ (0.60 )   $ (3.21 )   $ (1.95 )  
    Diluted $ (0.31 )   $ (0.60 )   $ (3.21 )   $ (1.95 )  


BLINK CHARGING CO.
Condensed Consolidated Balance Sheets
(in thousands, except for share amounts)

        December 31,
          2023       2022  
Assets          
Current Assets:      
  Cash and cash equivalents $ 121,691     $ 36,562  
  Accounts receivable, net   43,704       23,581  
  Inventory, net   49,342       34,740  
  Prepaid expenses and other current assets   5,254       4,399  
             
    Total Current Assets   219,991       99,282  
Restricted cash     79       71  
Property and equipment, net   35,127       25,862  
Operating lease right-of-use asset   9,731       4,174  
Intangible assets, net   16,298       26,582  
Goodwill       144,881       203,710  
Other assets     669       2,861  
           
  Total Assets $ 426,776     $ 362,542  
           
Liabilities and Stockholders' Equity      
             
Current Liabilities:      
  Accounts payable $ 32,167     $ 24,585  
  Accrued expenses and other current liabilities   11,426       13,109  
  Notes payable   6,792       10  
  Current portion of operating lease liabilities   3,448       1,738  
  Current portion of financing lease liabilities   512       306  
  Current portion of deferred revenue   13,613       10,572  
             
    Total Current Liabilities   67,958       50,320  
Contingent consideration     -       1,316  
Consideration payable     49,434       40,608  
Operating lease liabilities, non-current portion   7,025       3,030  
Financing lease liabilities, non-current portion   163       408  
Deferred revenue, non-current portion   12,462       5,258  
Other liabilities   337       645  
             
    Total Liabilities   137,379       101,585  
             
Commitments and contingencies (Note 14)      
             
Stockholders' Equity:      
  Common stock, $0.001 par value, 500,000,000 shares authorized, 92,818,233 and 51,476,445      
  shares issued and outstanding as of December 31, 2023 and 2022, respectively   93       51  
  Additional paid-in capital   829,563       597,982  
  Accumulated other comprehensive loss   (2,536 )     (3,046 )
  Accumulated deficit   (537,723 )     (334,030 )
             
    Total Stockholders' Equity   289,397       260,957  
             
    Total Liabilities and Stockholders' Equity $ 426,776     $ 362,542  


BLINK CHARGING CO. AND SUBSIDIARIES
Consolidated Statements of Cash Flows
(In thousands)
(unaudited)

        For the Years Ended
        December 31,
          2023       2022  
Cash Flows From Operating Activities:      
  Net loss   $ (203,693 )   $ (91,560 )
  Adjustments to reconcile net loss to net cash      
  used in operating activities:      
    Depreciation and amortization   12,441       9,547  
    Non-cash lease expense   2,128       997  
    Impairment of goodwill   89,087       -  
    Impairment of intangible assets   5,143       -  
    Change in fair value of contingent consideration   (1,375 )     (1,499 )
    Change in fair value of derivative and other accrued liabilities   8       -  
    Provision for bad debt   2,555       1,336  
    Loss on extinguishment of notes payable   1,000       -  
    (Gain) loss on disposal of fixed assets   (11 )     113  
    Provision for slow moving and obsolete inventory   527       78  
    Gain on settlement of accounts payable, net   24       -  
    Stock-based compensation:      
    Common stock   12,893       11,224  
    Options     4,064       4,689  
    Warrants     5,082       -  
  Changes in operating assets and liabilities:      
    Accounts receivable and other receivables   (21,936 )     (11,869 )
    Inventory     (16,773 )     (24,283 )
    Prepaid expenses and other current assets   (724 )     (1,782 )
    Other assets     941       2  
    Accounts payable and accrued expenses   7,952       16,309  
    Other liabilities   (307 )     18  
    Lease liabilities   (3,595 )     (825 )
    Deferred revenue   9,714       5,140  
             
    Total Adjustments   108,838       9,195  
             
    Net Cash Used In Operating Activities   (94,855 )     (82,365 )
             
Cash Flows From Investing Activities:      
  Note receivable     -       (2,200 )
  Purchase consideration of SemaConnect, net of cash acquired   -       (38,338 )
  Purchase consideration of Envoy, net of cash acquired   (4,660 )     -  
  Capitalization of engineering costs   (1,028 )     (294 )
  Purchase consideration of Electric Blue, net of cash acquired   -       (11,360 )
  Purchases of property and equipment   (7,552 )     (5,249 )
             
    Net Cash Used In Investing Activities   (13,240 )     (57,441 )
             
Cash Flows From Financing Activities:      
  Proceeds from sale of common stock in public offering [1]   208,865       7,386  
  Proceeds from exercise of options and warrants   835       220  
  Repayment of financing liability in connection with finance lease   (2,837 )     (217 )
  Repayment of notes payable   (9,292 )     (681 )
  Payment of financing liability in connection with internal use software   (256 )     (315 )
             
    Net Cash Provided By Financing Activities   197,315       6,393  
             
    Effect of Exchange Rate Changes on Cash and Cash Equivalents   (4,083 )     (4,830 )
             
    Net Increase (Decrease) In Cash and Cash Equivalents and Restricted Cash   85,137       (138,243 )
             
Cash and Cash Equivalents and Restricted Cash - Beginning of Year   36,633       174,876  
             
Cash and Cash Equivalents and Restricted Cash - End of Year $ 121,770     $ 36,633  
             
Cash and cash equivalents and restricted cash consisted of the following:      
  Cash and cash equivalents $ 121,691     $ 36,562  
  Restricted cash     79       71  
        $ 121,770     $ 36,633  


Non-GAAP Financial Measures

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

          For The Three Months Ended   For The Years Ended
          December 31,   December 31,
            2023       2022       2023       2022  
                       
Net Loss       $ (19,689 )   $ (28,149 )   $ (203,693 )   $ (91,560 )
Add:                      
  Interest Expense     1,173       473       3,546       1,529  
  Provision for Income Taxes   269       308       1,494       308  
  Depreciation and amortization   2,743       4,372       12,437       9,547  
EBITDA         (15,504 )     (22,996 )     (186,216 )     (80,176 )
Add:                      
  Stock-based compensation   1,496       8,092       22,039       15,913  
  Acquisition-related costs   23       150       356       3,933  
  Impairment of goodwill and intangible assets   -       -       94,230       -  
  Loss on extinguishment of notes payable   -       -       1,000       -  
  One-time non-recurring expense   -       -       11,632       -  
Adjusted EBITDA     $ (13,985 )   $ (14,754 )   $ (56,959 )   $ (60,330 )


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

          For The Three Months Ended   For The Years Ended
          December 31,   December 31,
            2023       2022       2023       2022  
                       
Net Income - per diluted share $ (0.28 )   $ (0.55 )   $ (3.21 )   $ (1.95 )
Per diluted share adjustments:              
Add: Amortization expense of intangible assets   -       0.04       0.10       0.12  
  Acquisition-related costs   -       -       0.01       0.08  
  Additional stock-based compensation   -       0.10       -       0.10  
  Impairment of goodwill and intangible assets   -       -       1.49       -  
  Loss on extinguishment of notes payable   -       -       0.02       -  
  One-time non-recurring expense   -       -       0.18       -  
Adjusted EPS     $ (0.28 )   $ (0.41 )   $ (1.42 )   $ (1.65 )


Blink Charging Co. publicly reports its financial information in accordance with accounting principles generally accepted in the United States of America (“US GAAP”). To facilitate external analysis of the Company’s operating performance, Blink Charging also presents financial information that is considered “non-GAAP financial measures” 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’s 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’s 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’s management, securities analysts, and investors to meaningfully evaluate and compare the results of the Company’s 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 items such as acquisition-related costs, amortization expense of intangible assets, additional stock-based compensation expense, one-time non-recurring expenses, non-cash impairment charges, and non-cash loss on extinguishment of notes payable, is useful to securities analysts and investors to evaluate the Company’s 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’s principal line of products and services include Blink’s EV charging networks (“Blink Networks”), 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 https://blinkcharging.com/.

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 “anticipate,” “expect,” “intend,” “may,” “will,” “should” 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 2024 revenue and gross margin targets and its projected 2024 adjusted EBITDA run rate, and the risk factors described in Blink’s 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
IR@BlinkCharging.com
305-521-0200 ext. 446

Blink Media Contact
Nipunika Coe
PR@BlinkCharging.com
305-521-0200 ext. 266


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Source: Blink Charging Co.