Blink Charging Reports Record Q3 with $43M Revenues and Raised 2023 Revenue Target to $128-133M

DENVER, Colo., Nov 10, 2023 ( Blink Charging Co (NASDAQ: BLNK) reported, after yesterday’s market close, third quarter financial results. The highlights include total third quarter revenues increased 152% to $43.4 million, compared to $17.2 million in third quarter of 2022, a 167% increase in gross profit to $12.8 million or gross margin of 29.5% in third quarter of 2023 compared to $4.8 million or gross margin of 27.7% in third quarter of 2022, it raised its 2023 revenue target to $128 – $133 million and targets adjusted EBITDA break even run rate by December 2024. It contracted, deployed or sold5,956 charging stations in third quarter.

Blink Charging is trading at $2.76, up $0.30 (+12.2%) on 249.9K premarket shares.

Its 52-week range is $2.22 to $15.42. It set a new 52-week low late October and it’s near its next inflection point. If the trading volume can strengthen in the regular trading session its setup is favorable to move above $3.

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