BLNK Q2 Deep Dive: Sequential Revenue Rebound Amid Cost Controls and Portfolio Expansion

EV charging infrastructure provider Blink Charging (NASDAQ:BLNK) reported Q2 CY2025 results beating Wall Street’s revenue expectations, but sales fell by 13.8% year on year to $28.67 million. Its non-GAAP loss of $0.26 per share was 50.3% below analysts’ consensus estimates.

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StockStory’s Take

Blink Charging’s second quarter was marked by sequential revenue growth, but the market reacted negatively due to ongoing losses and margin pressures. Management attributed the quarter’s performance to a rebound in product sales, especially DC fast chargers and Level 2 units, and a continued increase in service revenues. CEO Michael Battaglia highlighted, “We began seeing signs of demand improvement at the start of the second quarter, and that materialized across April, May and June.” The company also noted progress in cost reduction initiatives, though nonrecurring expenses and asset impairments weighed on overall profitability.

Looking ahead, Blink Charging’s strategy centers on expanding its product portfolio and streamlining operations to drive profitability. Management believes the acquisition of Zemetric will fill critical gaps in the value-priced charger segment, targeting fleet and multifamily customers, with volume production expected in October. CFO Michael Bercovich stated that improvements in working capital, ongoing cost reductions, and broad-based revenue growth should decrease cash burn in the coming quarters. The company expects sequential sales momentum to continue, supported by new product launches and operational discipline.

Key Insights from Management’s Remarks

Management credited the quarter’s sequential revenue growth to a recovery in product demand, ongoing service revenue strength, and early impacts from cost-saving measures. Strategic portfolio moves and leadership changes also featured prominently in the discussion.

• Leadership team overhaul: Several new executives joined, including a new CFO and CTO, aiming to bring operational discipline and accelerate growth. The addition of Chris Carr as SVP of Sales has contributed to a wider sales footprint.
• Zemetric acquisition: The purchase of Zemetric addressed a gap in Blink’s product lineup by adding value-priced chargers for fleet and multifamily markets, while also providing advanced software and AI-driven energy management capabilities.
• Service revenue momentum: Continued growth in service revenues was driven by increased charger utilization and network expansion, especially in DC fast charging. European and U.S. markets both contributed, with the U.S. showing faster growth this quarter.
• Cost reduction progress: The BlinkForward initiative delivered annualized cost savings of $8 million, mainly from workforce reductions and eliminating certain consulting expenses. Management indicated further cost-cutting opportunities are being pursued.
• Envoy liability resolution: The company resolved uncertainties around its Envoy subsidiary, eliminating a payment obligation and related balance sheet liabilities through a stock and warrant agreement, which management believes strengthens its financial position.

Drivers of Future Performance

Management expects sequential growth to continue, driven by new product introductions, expanded market reach, and further cost controls.

• Product portfolio expansion: The launch of Zemetric’s Level 2 chargers is expected to boost Blink’s presence in price-sensitive segments, particularly for fleet and multifamily customers. Management anticipates these new offerings will drive broader adoption and recurring network revenue.
• Operational efficiency focus: Continued implementation of the BlinkForward cost-cutting initiative is set to lower operating expenses and improve cash flow, with further reductions targeted in professional services and compensation.
• Market and industry dynamics: Management noted possible industry consolidation and evolving OEM EV investment as factors that could reshape the competitive landscape. The company aims to stay nimble and focus on controllable factors, such as product mix and capital efficiency, to support future performance.

Catalysts in Upcoming Quarters

In the upcoming quarters, the StockStory team will monitor (1) the commercial rollout and adoption of Zemetric’s Level 2 chargers, (2) the pace and effectiveness of cost-saving measures under the BlinkForward initiative, and (3) new contract wins or deployments—especially those tied to the U.K. LEVI program and fleet customers. The resolution of the Envoy liability and continued improvement in working capital practices will also be closely watched for signs of sustainable profitability.

Blink Charging currently trades at $0.98, down from $1.03 just before the earnings. In the wake of this quarter, is it a buy or sell? The answer lies in our full research report (it’s free).

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