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Blink Charging Co (Blink Charging (BLNK)) reported its first-quarter results Monday after the market closed, and while the numbers were a mixed bag, investors seem to like what they see. The stock is up 3.75% in after-hours trading to 99 cents.
Here's the breakdown.
Revenue came in at $20.78 million, up a modest 0.3% from a year ago. That was a hair below the Street consensus of $21.66 million, according to data from MarketDash. But the composition of that revenue tells a more interesting story.
Product revenue fell 26.1% to $6.19 million, while service revenue jumped 25% to $13.35 million. Other revenue dropped 25.4% to $1.24 million. The shift reflects Blink's deliberate pivot from selling hardware to becoming more of a service company in the electric vehicle charging space.
"Q1 reinforces that Blink is executing against our plan. We raised capital in 2025 and are investing with discipline into areas representing a strong line of sight to long-term value creation, especially within our owner-operated DC fast charging footprint," CEO Mike Battaglia said.
Blink reaffirmed its full-year sales guidance of $105 million to $115 million. The Street is currently expecting $107.29 million, so the midpoint of guidance is right in line. Battaglia emphasized the focus on profitability: "We are focused on achieving profitability as we build durable infrastructure, improve utilization over time, and continue the shift toward more repeatable, recurring, and higher-quality revenue."
Shares are up 3.75% to 99 cents in after-hours trading Monday. The stock has a 52-week range of 45 cents to $2.65, so it's still closer to the bottom than the top. But the market seems to be giving Blink credit for the strategic shift and the reaffirmed outlook.
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