Blink Charging Stock Declines On Wider-Than-Expected Q2 Loss

  • Blink Charging Co BLNK reported second-quarter FY21 revenue growth of 177% year-on-year, to $4.36 million, beating the analyst consensus of $2.44 million.
  • Revenues from product sales rose 156% Y/Y, and revenues from charging services jumped 571%.
  • Gross profit gained 55.6% Y/Y to $0.64 million, while the gross margin contracted 1150 basis points to 14.8%.
  • Commercial Blink-owned charging stations contracted or deployed during the quarter grew 46% Y/Y.
  • The operating loss expanded to $(12.3) million as operating expenses nearly quadrupled to $12.99 million.
  • Blink Charging held $195.6 million in cash and equivalents as of June 30, 2021.
  • Loss per share of $(0.32) missed the analyst consensus of $(0.16). Net loss widened to $(13.5) million.
  • "As we enter into the latter half of 2021, we remain intently focused on scaling our business and continuing to expand our charging footprint both domestically and internationally," said CEO Michael D. Farkas.
  • Price Action: BLNK shares are trading lower by 6.89% at $33.52 on the last check Thursday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsSmall CapBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!