Blink Charging (BLNK) H.C. Wainwright 27th Annual Global Investment Conference summary

Business performance and market position

• Revenue grew from $2.7 million in 2019 to $140 million in 2023, with a contraction to $120 million in 2024 and a weak start in 2025, but Q2 2025 saw a 38% sequential revenue increase to $28.7 million.

• Service revenues reached a record $11.8 million in Q2 2025, up 46% year-over-year and 11% sequentially, with network fees up 55% year-over-year.

• The company is the third largest EV charging network in the U.S., with about 7,000 stations globally, mainly in the U.S., U.K., and Belgium.

• 65% of revenue comes from hardware and services, 35% from owner-operator model; the goal is to flip this ratio to favor recurring owner-operator revenue.

• Key markets include fleets, multifamily, hospitality, commercial, workplace, government, and automotive OEMs and dealers.

Strategic initiatives and leadership changes

• New President/CEO, head of sales, CFO, and CTO were appointed in early 2025 to drive profitability and operational efficiency.

• The CTO hire included the acquisition of Zometric, accelerating the launch of a lower-cost charger for apartments and fleets and bringing in new leadership talent.

• Operating expenses were reduced by $8 million annualized in Q2, with a 22% year-over-year reduction in compensation expense.

• Focus on cost reductions, efficiency, and a "do less with more" approach to support growth and profitability.

Growth focus and financial management

• CapEx deployment is shifting toward DC fast charging, which saw over 300% revenue growth year-over-year, though only 250 of 7,000 stations are DC fast chargers.

• Large backlog of DC fast charging projects exists, but further deployment is paused pending additional capital; $25 million in cash at Q2 end.

• An SPV with Avolt and the U.K. government’s LEVI program enables off-balance sheet funding for U.K. charging projects, with plans to replicate this in the U.S.

• A $21 million liability from the Envoy acquisition was resolved through stock and warrants, removing the obligation and leaving the company debt-free.