Blink Charging (BLNK) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue was $21.7 million, down 24–24.5% year-over-year, with service revenue growing 6.2% to $11.5 million and product revenue declining 48.7% due to strategic repositioning and the divestiture of Envoy Technologies.

• Gross margin expanded to 38.9%, up over 2,200 basis points year-over-year, with gross profit rising 74.7–75% to $8.4 million, reflecting improved revenue quality and cost control.

• Adjusted EBITDA loss improved 72% year-over-year to $(2.2) million, and net loss narrowed to $6.0 million, a significant improvement from $29.3 million in Q2 2025.

• Operating expenses were reduced by 57% year-over-year to $14.7 million, driven by cost discipline and structural improvements.

• Completed the divestiture of Envoy Technologies in June 2026 to focus on core EV charging business and recurring revenue streams.

Financial highlights

• Service revenue reached $11.5 million, now representing 53% of total revenue, while product revenue fell to $7.4 million.

• Adjusted gross margin rose to 47.9% in Q2 2026.

• Cash and cash equivalents at quarter-end were $34 million, with net cash used in operations for the first half of 2026 at $(3.4) million.

• Non-GAAP net loss narrowed to $5.7 million (26.2% of revenue) from $10.9 million (38.0%) year-over-year.

• Net loss per share was $(0.04) for Q2 2026, compared to $(0.28) in Q2 2025.

Outlook and guidance

• Full-year 2026 revenue guidance revised to $83–$90 million from $105–$115 million, reflecting a focus on profitability and divestitures.

• Full-year GAAP gross margin outlook raised to approximately 38% from 35%.

• Targeting adjusted EBITDA breakeven by Q4 2026 and positive full-year adjusted EBITDA in 2027.

• Expecting return to revenue growth in 2027, driven by charging and energy services.

• Management believes current cash and future cash flows will fund operations for at least 12 months.