It's earnings day for Blink Charging Co (BLNK), and the electric vehicle charging company has a story to tell. The fourth-quarter results, due out Thursday after the market closes, come at a pivotal moment. The stock has been trading under a dollar for months, and the narrative has shifted from pure growth to something more nuanced: a turnaround story built on cost control and recurring revenue. Investors will be listening closely to see if the numbers back up the talk.

Let's start with what the analysts are expecting. The consensus, according to market data, is for revenue of $28.56 million. That's actually down from the $30.18 million the company reported in the same quarter last year. Blink has had a bit of a habit of missing revenue estimates lately, falling short in four of the last five quarters. On the bottom line, the forecast is for a loss of 11 cents per share, which would be an improvement from the 15-cent loss a year ago. The company has been more consistent on that front, beating earnings per share estimates in six of the last ten quarters.

So, what's the real story here? It's less about a single quarter's numbers and more about the trajectory. The stock price tells part of the tale: shares are down about 33% over the last year and have been stuck below the $1 mark since December 10th. That's the kind of situation that makes investors nervous about potential dilution. But management has been trying to change the conversation by focusing on what they can control: expenses.

By the end of the third quarter, Blink said it had eliminated $13 million in annual operating expenses. That's not pocket change. The big question for this report is whether that trend continued. "Our focus on simplifying operations, reducing costs, and executing with discipline is yielding tangible results as we pursue profitability," CEO Mike Battaglia said after the last earnings release. The market will want to see more of those tangible results. Lower cash burn could ease dilution fears and help improve earnings per share down the line, which is the whole point of this exercise.

While cutting costs is crucial, a company also needs to grow. That's where the services segment comes in. Last quarter, services revenue—think things like charging network fees and maintenance—jumped 35.5% year-over-year. That's the kind of high-margin, recurring revenue that investors love to see. It's sticky. If Blink can show that this segment continues to gain momentum, it could be a powerful counterpoint to concerns about product sales volatility.

Speaking of products, the company has also made a strategic shift to contract manufacturing. This could change the financials and make year-over-year comparisons for different business segments look a bit different. It's a behind-the-scenes operational move, but it's part of the broader effort to streamline the business.

Looking ahead, Blink has a couple of new tricks up its sleeve that might get mentioned on the call. The company is launching cryptocurrency payments and a new charger called the Shasta L2. These are potential growth drivers, and management will likely frame them as evidence that the company is still innovating while getting its financial house in order.

Battaglia has been setting expectations. "The business is trending in the right direction, with improved focus, execution and financial discipline that support our long-term growth objectives," he said last quarter. He also specifically called out expectations for sequential revenue growth and strong momentum in recurring revenue. The fourth-quarter report is the first major test of those claims heading into the new fiscal year. Did the trend hold?

As for the stock itself, it's been on a bit of a roller coaster. On Wednesday, shares were up nearly 20% to 67 cents. For context, the 52-week range is 54 cents to $2.65. Year-to-date in 2026, the stock is essentially flat, up just 0.36%. The price action suggests traders are positioning ahead of the news, but the real move will likely come after investors digest whether Blink's turnaround plan is on track or starting to stall.

In short, Thursday's report isn't just about beating or missing estimates. It's a progress report on a fundamental shift in strategy. Can Blink Charging prove it can be a leaner, more disciplined company while still finding avenues for growth? The answer will determine whether the stock's journey back above $1 is a near-term possibility or a distant dream.