4. PROPERTY AND EQUIPMENT

Property and equipment consisted of the following:

SCHEDULE OF PROPERTY AND EQUIPMENT 

Depreciation and amortization expense related to property and equipment was $7,497, $4,885, and $5,432 for the years ended December 31, 2024, 2023, and 2022, respectively, of which, $6,299, $4,250, and $3,113, respectively, was recorded within cost of revenues in the accompanying consolidated statements of operations. The remaining depreciation expense of $1,198, $635, and $2,319 was included within general and administrative expenses during the years ended December 31, 2024, 2023, and 2022, respectively.

During the years ended December 31, 2024, 2023, and 2022, the Company disposed of property and equipment with a net book value of $1,384, $2,731, and $463 which resulted in a loss (gain) on disposal of $679, ($11), and $113, respectively, which was included within general and administrative expenses in the consolidated statements of operations.

During the years ended December 31, 2024, 2023, and 2022, the Company transferred charging stations of $6,242, $1,786, and $5,283 from inventory into property and equipment. During the year ended December 31, 2024, the Company sold approximately 10,000 square feet of office space in Miami Beach, Florida for approximately $3,425 of proceeds. In connection with the sale, the Company recorded a loss on sale of $459 within general and administrative expenses during the year ended December 31, 2024.

BLINK CHARGING CO.

Notes to Consolidated Financial Statements

(in thousands, except for share and per share amounts)