Blink Charging’s Revenue by Segment (2016-2023)

This chart shows Blink Charging’s Revenue by Segment, split between Charging Service revenue, Company-owned charging stations, Grant and Rebate, Network fees, Product sales, Ride- Sharing services and Warranty segments.

Blink Charging’s Revenue by Segment

(All figures in million, except percentages)

Blink Charging Co. generates revenue by selling its charging stations to commercial and residential customers. It also owns some stations and enters into various contracts with property owners with regard to splitting the revenue generated through the sale of electricity. Blink charging plugs are located in grocery stores, hotels, apartment complexes, and various other locations.

The company earned revenue worth $905.36 million in Q3 2020. In Q2 2021, Blink Charging again made a good amount of revenue, amounting to $4355.1 million. However, in Q3 2021, sales suffered due to the effects of the pandemic and declined to $6.4 million.

Charging Service Revenue (Company-owned charging stations)

Charging services contribute to the company by providing services to the customers. This segment only includes charging stations which are owned by the company directly.

In Q3 2020, this segment earned a revenue of $162.5 million which contributed 17.9% in the total revenue of the company, it further increased to $586.1 million in Q2 2021. Currently, the company is facing a huge decline in revenue due to a highly competitive market and the revenue from this segment has declined to $0.09 million which contributes to 1.4% in the total revenue.

Grant and rebate

The Grant and rebate segment earned revenue worth $2.58 million in Q3 2020, which made a contribution of 0.2% in the total revenue.The revenue increased to $70.4 million in Q2 2021. The Company was earning revenue from this segment slowly and steadily, but in Q3 2021, it only generated $0.0056 million, which contributed 0.56% in total revenue of the company.

Network fees

The Network fees segment generate revenue worth $100.29 million in Q3 2020, which contributed to a figure of 11.8% in the total revenue of the company. Moreover, revenue was affected severely by Covid and declined to $0.2 million in Q3 2021, with a contribution of 4.06% in total earnings.

Product Sales

Product sale segment is the largest contributor to the company’s total revenue. In this segment, products related to charging are sold for revenue generation. in Q3 2020, product sale made revenue worth $556.85 million which further increased to $3267.1 million in Q2 2021. In Q3 2021 revenue declined in comparison of the previous years. The sector earned only $4.8 million, however, it contributed to 75% of the total earnings of the company.

Ride-sharing services

In the year 2021, Blink Charging introduced a new segment “Ride-sharing services”. In its first quarter, it earned revenue of $ 4.5 million which contributed 2.3% to the total revenue of the company. Further, in Q2 2021 this segment earned revenue worth $189.2 million. In Q3 2021, revenue declined to $0.2 million and the sector could contribute only 4.26% in the total revenue.

Warranty

The warranty segment of Blink Charging provides warranty on its cables and products. In Q3 2020, this segment made a revenue of $13.95 million and contributed to 1.5% of the total revenue. This segment maintained revenue growth and increased successfully quarter by quarter, but in Q3 2021, earnings declined to $0.87 million, which contributed 13.1% to the total revenue.

Other  

The Other segment includes after sales services, repairs and website revenue. in Q3 2020, this segment earned revenue worth $69.19 million which further increased to $113.9 million by 64.61%. After this, the segment’s revenue declined to $0.0053 million in  Q3 2021, which contributed to only 0.8% of the total revenue.

About Blink Charging

Blink Charging Co. was established in 1988. It is headquartered in Florida, United States. Blink Charging is an owner, operator and provider of electric vehicle (EV) charging equipment and networked EV charging services. The Company offers both residential and commercial EV charging equipment, enabling EV drivers to recharge at various location types.

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