Blink Charging Stock Climbs After Better-Than-Expected Q1 Results
Portfolio Pulse from Erica Kollmann
Blink Charging Co. (NASDAQ:BLNK) reported Q1 financial results surpassing analyst expectations with losses of 13 cents per share and quarterly sales of $37.57 million, a 73.38% increase year-over-year. The company also reported a 36% gross margin and contracted, deployed, or sold 4,555 charging stations. CEO Brendan S. Jones highlighted the company's record revenues and growing leadership in the EV infrastructure market. Blink maintained its full-year revenue target of $165 million to $175 million and aims for a positive adjusted EBITDA run rate by December 2024.
May 09, 2024 | 8:25 pm
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Blink Charging reported better-than-expected Q1 results with significant sales growth and improved gross margin, maintaining positive revenue and EBITDA targets for 2024.
Blink Charging's Q1 performance exceeded analyst expectations in both earnings and sales, showing a substantial year-over-year sales increase and improved gross margin. The positive outlook for 2024, including a target for positive adjusted EBITDA and a gross margin of approximately 33%, along with the after-hours stock price increase, suggests a positive short-term impact on BLNK's stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100