Leading Electric Vehicle Owner, Operator and Provider of Electric Vehicle Charging Equipment and Networked Charging Services Announces Improved Results for the Quarter.
Blink Charging Co., a leading owner, operator and provider of electric vehicle charging station products and networked EV charging services, today announced financial results for the second quarter ended June 30, 2018.
Second Quarter 2018 Highlights* Include:
Unaudited financial statements as of June 30, 2018 reflect $23,996,609 in cash and $19,048,451 of Stockholder Equity.
Net loss for the quarter ended June 30, 2018 was $1,232,785 as compared to a net loss of $4,416,167 for the quarter ended June 30, 2017; a 72% improvement.
Total revenue for the quarter ended June 30, 2018 increased 17% to $624,418 as compared to $532,974 for the quarter ended June 30, 2017.
Charging service revenue from company-owned charging stations for the quarter ended June 30, 2018 rose 23% to $301,350 as compared to $244,931 for the quarter ended June 30, 2017.
Revenue from product sales for the quarter ended June 30, 2018 grew by more than 150% to $142,839 as compared to $56,957 for the quarter ended June 30, 2017.
Blink Charging's electric vehicle charging network exceeded 125,000 members during the quarter ended June 30, 2018.
Event subsequent to June 30 - Hired Jonathan New as CFO to build-out processes and controls to meet forecasted EV market demand.
"As the first half of the year clearly demonstrates, 2018 is an exciting year of continued market growth," said Michael D. Farkas, Founder and Executive Chairman of Blink Charging Co. "We are deploying units all over the U.S. as we simultaneously expand into a global footprint with key partnerships. Our success at commercial and residential properties has earned Blink increased revenue from both product sales and charging services. We will continue to expand our global footprint throughout this year enabling Blink to be present and accessible as millions of EV drivers begin entering the marketplace worldwide."