BLINK CHARGING ANNOUNCES PRELIMINARY FULL-YEAR 2023 REVENUE IN EXCESS OF $140 MILLION, REITERATES ADJUSTED EBITDA PROFITABILITY TARGET

Company announces preliminary fourth-quarter 2023 revenue record in excess of $42 million, as well as a record-breaking full-year 2023 revenue in excess of $140 million. Blink reaffirms its target for achieving positive Adjusted EBITDA run rate by December 2024 

Miami Beach, FL., Feb. 14, 2024 (GLOBE NEWSWIRE) -- Blink Charging Co. (Nasdaq: BLNK) (“Blink” or the “Company”), a leading manufacturer, owner, operator, and provider of electric vehicle (EV) charging equipment and services, today announced that it anticipates its fourth-quarter 2023 revenue to surpass $42 million. With this achievement, the Company expects full-year 2023 revenue to surpass $140 million, exceeding its previously announced revenue target of $128 - $133 million.

Brendan Jones, President and CEO, said: “We are excited about our record-breaking fourth-quarter and full-year 2023 revenue growth. We saw strong demand for both our equipment and services. This is the result of consistent and systematic steps that we took to strengthen our product portfolio and service offerings, supported by our vertical integration strategy and dedicated customer service team”.

Blink also reaffirms its target of achieving a positive Adjusted EBITDA run rate by December 2024.

“By adopting the ‘right charger, right place, right time’ approach, Blink ensures electric vehicle charging is efficient and readily available, encouraging more people to make the switch to sustainable transportation,” stated Brendan Jones, considering preliminary year-end financial results. The success of Blink’s demonstrated progress reflects on the proven track record in strategically deploying nationwide EV charging infrastructure and ensuring widespread charger availability. 

Blink will announce its fourth-quarter 2023 earnings call date, dial-in details, and further information at a later date. 

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About Blink Charging
Blink Charging Co. (Nasdaq: BLNK), a global leader in electric vehicle (EV) charging equipment, has contracted, sold, or deployed nearly 85,000 charging ports worldwide, many of which are networked EV charging stations, enabling EV drivers to easily charge at any of Blink’s charging locations. Blink’s principal line of products and services includes the Blink EV charging network (“Blink Network”), EV charging equipment, EV charging services, and the products and services of recent acquisitions, including SemaConnect, Blue Corner, BlueLA and Envoy. The Blink Network uses proprietary, cloud-based software that operates, maintains, and tracks the EV charging stations connected to the network and the associated charging data. With global EV purchases forecasted to half of passenger cars sold in the US by 2030, Blink has established key strategic partnerships for rolling out adoption across numerous location types, including parking facilities, multifamily residences and condos, workplace locations, health care/medical facilities, schools and universities, airports, auto dealers, hotels, mixed-use municipal locations, parks and recreation areas, religious institutions, restaurants, retailers, stadiums, supermarkets, and transportation hubs.