Blink Charging Co. (NASDAQ: BLNK)

Blink Charging Co. is a leading owner operator provider of EV charging equipment and networked EV charging services in the rapidly growing U. S. and international markets for EVs. The company offers residential and commercial EV charging equipment and services that enable EV drivers to recharge at various locations. Its principal products and services consist of the Blink Networks cloud based platform and Blink EV charging equipment also known as electric vehicle supply equipment EVSE together with other EV related services. The Blink Networks operate maintain and manage Blink charging stations handle charging data back end operations and payment processing. As of September 30 2025 the Blink networks had 65 586 chargers connected of which 63 775 were Level 2 commercial chargers and 1 811 were DCFC commercial chargers. Blink owned 8 112 of those chargers while an estimated 22 790 units were non networked on other networks international sales or deployments. In total Blink has deployed contracted or sold 110 188 units including public and private chargers as designated by station owners net of swap outs replacement units and decommissioned units.

Blink Charging Co. generates revenue from several sources. Product sales include the sale of Level 2 AC chargers and DC fast chargers to property partners and end users. Charging service revenue is earned from company owned charging stations where Blink provides electricity and retains the revenue after deducting network connectivity and processing fees. Network fees are collected from property owners who host Blink owned stations under the Blink owned turnkey or hybrid models and pay for access to the Blink Networks. Warranty revenue comes from extended warranty contracts sold to customers. Grant and rebate income is received from government programs that support EV infrastructure deployment. Car sharing services revenue is derived from Blink Mobility which offers electric vehicle subscription programs that use Blink charging stations. Other revenue includes miscellaneous items such as licensing fees and service contracts. For the nine months ended September 30 2025 total revenue was 76 451 thousand dollars comprised of 35 924 thousand from product sales 22 229 thousand from charging service revenue 8 454 thousand from network fees 4 023 thousand from warranty 251 thousand from grant and rebate 3 517 thousand from car sharing services and 2 053 thousand from other sources.

The EV charging equipment and service market is highly competitive with many participants vying for market share. Blink Charging Co. competes on product performance features total cost of origin of manufacturing sales capabilities financial stability brand recognition product reliability and installed base size. The company differentiates itself through its proprietary Blink Networks cloud based platform which provides remote monitoring management payment processing and customer support for its charging stations. Its flexible business models allow Blink to own operate or host charging stations giving it adaptability to different customer preferences. The company believes that its growing network of chargers and its ability to provide a seamless user experience via the Blink Charging mobile app are important competitive advantages. However it faces ongoing risks from new entrants evolving technology changes in government incentives and fluctuations in electric vehicle adoption rates.

Blink Charging Co. serves a diverse customer base that includes property partners such as commercial businesses multifamily residential properties retail outlets hospitality venues municipalities colleges hospitals airports and fleet operators. It also provides charging services to individual EV drivers through its public network and the Blink Charging mobile app. Through its Blink Mobility subsidiary the company offers car sharing services to subscribers who need short term access to electric vehicles for personal or business use. The company’s products are deployed in locations such as workplaces apartment complexes shopping centers hotels parking garages schools and transportation hubs where drivers can charge their vehicles while they work shop or travel.