Blink Charging Announces 2017 Financial Results
April 25 2018 - 9:15AM
Leading Provider of Electric Vehicle
Charging Equipment and Networked Charging
Services
Blink Charging Co. (NASDAQ: BLNK, BLNKW) (“Blink Charging” or the
“Company”) announced financial results for the fiscal year ended
December 31, 2017, demonstrating what the company believes is a
growth trajectory beyond its anticipated plan.
2017 Highlights* Include:
- Gross Profit increased 104% from $512,000 in 2016 to $1 million
in 2017.
- Charging service revenue from Company-owned charging stations
increased 4% from $1.14 million in 2016 to $1.18 million in
2017.
- Total assets increased 41% from $1.9 million in 2016 to $2.7
million in 2017
“While these numbers do not reflect our
recapitalization, our progress in 2017 allowed us to tee the
Company up for the next stage, leading to our $18.5 million public
offering on Nasdaq this past February,” said Mike Calise, Blink
Charging’s Chief Executive Officer. “We are spearheading strategic
nationwide growth of EV charging locations so that millions of EV
drivers and property owners throughout the U.S. can take part in
what is quickly becoming a revolution in transportation. We believe
our technology investment is removing the biggest barrier to mass
EV adoption, the lack of availability of EV charging locations, and
we believe that should drive an increase in EV charging equipment
sales and charging service revenues going forward.”
About Blink Charging
Co.:
Blink Charging (NASDAQ: BLNK,
BLNKW) is one of the leaders in nationwide public electric
vehicle (EV) charging equipment and services, enabling EV drivers
to easily charge at locations throughout the United States.
Headquartered in Florida with offices in Arizona and California,
Blink Charging’s business is designed to accelerate EV
adoption.
Blink Charging offers EV charging equipment and
connectivity to the Blink Network, a cloud-based software that
operates, manages, and tracks the Blink EV charging stations and
all the associated data. Blink Charging also owns and operates EV
charging equipment predominantly under the Blink brand, as well as
using a number of other charging station equipment manufacturers
such as ChargePoint, General Electric (GE) and SemaConnect. Blink
Charging has strategic property partners across multiple business
sectors including multifamily residential and commercial
properties, airports, colleges, municipalities, parking garages,
shopping malls, retail parking, schools, and workplaces.
For more information about Blink Charging,
please visit BlinkCharging.com
Forward-Looking StatementsThis
press release contains forward-looking statements as defined within
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. By their
nature, forward-looking statements and forecasts involve risks and
uncertainties because they relate to events and depend on
circumstances that will occur in the near future. Those
statements include statements regarding the intent, belief or
current expectations of Blink Charging Co., and members of its
management as well as the assumptions on which such statements are
based. Prospective investors are cautioned that any such
forward-looking statements are not guarantees of future performance
and involve risks and uncertainties, and that actual results may
differ materially from those contemplated by such forward-looking
statements. The Company undertakes no obligation to update or
revise forward-looking statements to reflect changed
conditions.
*The Company’s audited financial results appear
in the Company’s Annual Report on Form 10-K which was filed with
the SEC on April 17, 2018.
Blink Charging Media Contact:
Stephanie Goldman
Mark Havenner
The Pollack PR Marketing Group
sgoldman@ppmgcorp.com
mhavenner@ppmgcorp.com
(212) 601-9341
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