Blink Charging reports 38% sequential revenue growth in Q2 2025, driven by strong product demand and strategic leadership enhancements.

OPERATOR - (00:00:36)

Good day everyone and welcome to the Blink Charging Company second quarter 2025 earnings call. @ this time, all participants are on a listen only mode. If you have any questions or comments during the presentation, you may press Star one on your phone to enter the question queue at any time and we will open the floor for your questions and comments after the presentation. It is now my pleasure to turn the floor over to your host, Vitaly Stalia, Vice President of Capital Market and FP&A. Sir, the floor is yours.

Vitaly Stalia - Vice President of Capital Market and FP&A - (00:01:07)

Great. Thank you Matthew and Welcome everyone to Blink's second quarter 2025 earnings call. With us today we have Mike Battaglia, our President and Chief Executive Officer, and Michael Berkovich, our Chief Financial Officer. Today's discussions will include non GAAP references. These are reconciled to the most comparable US GAAP measures in the appendix of our Earnings Deck. You may find the deck along with the rest of our earnings materials and other important content on Blink's investor relations website. Today's discussions may also include forward looking statements about our expectations. These results may be different from those stated and the most significant factors that could cause these results to differ I include on page 2 of the second quarter 2025 earnings deck. Unless otherwise noted, all comparisons are year over year. And now I will turn the call over to Mike Battaglia, President and CEO of Blink Charging. Please go ahead Mike.

Mike Battaglia - President and Chief Executive Officer - (00:02:07)

All right, great. Thanks Vitaly and good afternoon everyone. We certainly appreciate you joining us today and we have several developments to discuss. But before we dive into the financial. performance for the second quarter, I want. To take a moment to welcome several new members to the Blink leadership team, each of whom brings critical experience and. Capabilities that align with our strategy to establish Blink as a profitable, technology driven leader in EV charging. We began our personnel changes in February when we introduced Chris Carr as our new Senior Vice President of Sales and Business Development. And Chris and his team are already. Achieving meaningful progress, expanding our sales footprint and win rate, which is certainly. Evidenced in our Q2 revenue results. Additionally, I'd like to welcome Michael Berkovich, who joined Blink on June 23rd as our new Chief Financial Officer. Michael brings over 20 years of global. Experience leading finance and accounting organizations through. Periods of significant growth and transformation. He is a strategic, operationally focused leader. With a proven track record of driving value creation. Over the course of his career, Michael has successfully raised and deployed over $250. Million in capital through venture, private equity. Family offices and institutional investors. In his short tenure, he has already. Introduced a new level of financial discipline. And accountability to Blink Also joining Blink recently is Harmeet Singh, our new Chief Technology Officer. Harmeet joined Blink through our recent acquisition. Of Zimetric, which I'll touch on shortly. As the Founder and CEO of Zimetric. And in his previous roles, Harmeet has. Been a pioneer in EV charging innovation. His prior leadership roles at Shell and. Green Lots of have equipped him with deep industry knowledge that will be instrumental as we continue to advance Blink's technology platform in alignment with our Blink Forward strategic roadmap. In Europe, we recently promoted Alex Kalman to lead our operations across the region. Alex previously oversaw our UK market and. Is succeeding Nico DeHaan. These appointments reflect our commitment to building. A results oriented, aggressive and future looking. Leadership team to accelerate Blink's transition to. A profitable EV charging company powered by innovation, operational discipline and customer centric services. Some of these leaders have only been. With us for a few weeks, yet. They're already making a tangible impact across the organization. Now turning to our second quarter results as we mentioned on our first quarter. Call in May, after a slow start. For product sales in the early months. Of 2025, we began to see momentum. Pick up as we entered the second quarter. With that return to product momentum combined. With the continued strength of service revenue, our second quarter results showed strong sequential growth. In fact, in Q2 we achieved solid. Growth across the business with total revenues growing 38% sequentially, product revenues growing 73% when compared to Q1 of 2025, services revenue experiencing another strong quarter, growing 46%. Year over year and 11% compared to. 1Q25 and other revenues growing 47% year over year. On the product side, 73% growth in sequential revenue was primarily driven by strong demand for our DC Fast Chargers and Level 2 series units. As I just mentioned, we began seeing. Signs of demand improvement at the start. Of the second quarter and that materialized. Across April, May and June. Record growth in services revenue reflects increased. Demand for our charging and network services. In both Europe and the United States, we continue to see strong opportunities to. Identify, build, own and operate profitable charging sites with an emphasis on DC fast charging. This trend is evident in energy distributed across our networks. During the quarter, Blink delivered a record. 49 gigawatt hours of energy, representing a. 66% year over year increase. Turning to slide 5, you'll see the consistent growth trajectory of our charging revenue over the last several quarters from Q2 2024 through Q2 2025. Service revenue reached $11.8 million in the. Second quarter, up 46% year over year. And increasing 11% sequentially from Q1. This performance reflects higher charger utilization, growth. In our portfolio of Blink owned assets. And importantly, increased contributions from DC Fast Chargers. In fact, revenue from Blink owned DC. Chargers increased by more than 300% in. The second quarter of 2025 versus prior. Year, driven by increased utilization and a higher number of units in the field. Totaling approximately 150 in the US. Turning to slide 6, I want to provide an update on our progress to. Reduce operating expenses under the Blink Forward initiative. Our focus on operating discipline and capital. Efficiency is designed to preserve liquidity while. Allowing us to invest in high impact. Areas that drive both customer value and. Financial performance, and we are already seeing measurable impact. Of note, as Michael Berkovich will cover in a few minutes, we did incur largely one time non cash charges of. $16.5 million during the second quarter.