Quarterly report [Sections 13 or 15(d)]

LEASES

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LEASES
6 Months Ended
Jun. 30, 2025
Leases  
LEASES

6. LEASES

 

OPERATING LEASES

 

Total operating lease expenses for the three and six months ended June 30, 2025 were $751 and $1,230, respectively, and for the three and six months ended June 30, 2024 were $347 and $1,135, respectively, which were recorded in other operating expenses on the condensed consolidated statements of operations. Operating lease expenses consist of rent expense, common area maintenance adjustments and other expenses.

 

As of June 30, 2025, the Company did not have additional operating and financing leases that have not yet commenced. As of June 30, 2025, the Company had $117 of  right-of-use assets that were classified as financing leases for vehicles associated with the operations of Blink Mobility and are included as a component of property and equipment on the condensed consolidated balance sheet as of June 30, 2025.

 

During the three and six months ended June 30, 2025, the Company recorded $2 and $4, respectively, of interest expense related to finance leases, which was recorded within interest expense on the condensed consolidated statements of operations. During the three and six months ended June 30, 2024, the Company recorded $13 and $23, respectively, of interest expense related to finance leases.

 

Supplemental cash flows information related to leases was as follows:

 

   

For The Six Months Ended

June 30,

 
    2025     2024  
Cash paid for amounts included in the measurement of lease liabilities:            
             
Operating cash flows from operating leases   $ 1,794     $ 2,052  
Financing cash flows from finance leases   $ 17     $ 375  
                 
Right-of-use assets obtained in exchange for lease obligations:                
Operating leases   $ 351     $ 653  
Finance leases   $ -     $ 53  
                 
Weighted Average Remaining Lease Term                
Operating leases     2.38       2.65  
Finance leases     3.16       2.78  
                 
Weighted Average Discount Rate                
Operating leases     7.2 %     7.2 %
Finance leases     6.2 %     6.3 %

 

 

BLINK CHARGING CO.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

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

 

6. LEASES- CONTINUED

 

Future minimum payments under non-cancellable leases as of June 30, 2025 were as follows:

 

For the Years Ending December 31,   Operating Lease     Finance Lease  
2025   $ 4,262     $ 41  
2026     2,324       41  
2027     1,642       34  
2028     932       10  
2029     894       -  
Thereafter     949       -  
Total future minimum lease payments     11,003       126  
Less: imputed interest     (1,816 )     (12 )
Total   $ 9,187     $ 114