BLINK CHARGING Reports Fourth Quarter Earnings Results for FY2022 on February 28, 2023.
March 8, 2023
Earnings Overview
BLINK CHARGING ($NASDAQ:BLNK) released their earnings results for the fourth quarter of FY2022, which ended on December 31, 2022, on February 28, 2023. Their total revenue was -USD 28.1 million, a 48.4% decrease compared to the same quarter a year ago. However, their net income increased by 184.4% to USD 22.6 million from the prior year.
Transcripts Simplified
In the fourth quarter of 2022, Blink Charging‘s total revenues grew 184% year-over-year to $22.6 million, with product sales of $15.8 million and service revenues of $5.7 million. Gross profit for the quarter was $6.5 million, with a gross margin of 29%. Operating expenses for the quarter totaled $34.2 million. Adjusted EBITDA for the fourth quarter of 2022 was a loss of $14.8 million.
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Blink Charging. More…
| Total Revenues | Net Income | Net Margin |
| 61.14 | -91.56 | -149.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Blink Charging. More…
| Operations | Investing | Financing |
| -82.36 | -57.44 | 6.39 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Blink Charging. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 362.54 | 101.58 | 5.3 |
Key Ratios Snapshot
Some of the financial key ratios for Blink Charging are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 180.9% | – | -146.0% |
| FCF Margin | ROE | ROA |
| -143.8% | -21.0% | -15.4% |
Price History
The stock opened at $9.2 and closed at $9.0, down 0.1% from the prior closing price of $9.1. The company also unveiled a new strategic plan, which it believes will help drive long-term growth and success. The plan focuses on four key areas: transformation, technology, customer experience and cost savings. Each of these areas is intended to help BLINK CHARGING further enhance its competitive advantage and position in the market.
Overall, the fourth quarter results were in line with expectations and the strategic plan offers a roadmap for the year ahead. BLINK CHARGING is confident that this plan will lead to continued success in fiscal year 2023 and beyond. Live Quote…
Analysis
At GoodWhale, we conducted an analysis of BLINK CHARGING‘s welfare. Our Star Chart showed that the company has strong assets and growth, and is weaker in dividend and profitability. With an intermediate health score of 4/10 with regard to its cashflows and debt, BLINK CHARGING is likely to sustain future operations in times of crisis. Based on our analysis, BLINK CHARGING is classified as a ‘cheetah’ company. This type of company is one that has achieved high revenue or earnings growth, but is considered less stable due to lower profitability. As such, investors who are looking for higher-risk opportunities for potential gains may consider investing in BLINK CHARGING. More…
Peers
The electric vehicle (EV) charging market is currently dominated by Blink Charging Co, but it faces stiff competition from Yurtec Corp, Daisan Co Ltd, and Tokyo Energy & Systems Inc. All four companies are vying for a share of the EV charging market, which is expected to grow exponentially in the coming years.
– Yurtec Corp ($TSE:1934)
Yurtec is one of the world’s largest manufacturers of construction materials, with a focus on concrete and steel. The company has a market cap of 50.63B as of 2022 and a Return on Equity of 5.38%. Yurtec is a publicly traded company on the Tokyo Stock Exchange and is headquartered in Tokyo, Japan.
– Daisan Co Ltd ($TSE:4750)
Daisan Co Ltd is a Japanese company that manufactures and sells electronic and electrical products. It has a market cap of 3.97B as of 2022 and a ROE of 1.65%. The company was founded in 1949 and is headquartered in Osaka, Japan.
– Tokyo Energy & Systems Inc ($TSE:1945)
Tokyo Energy & Systems Inc. is a Japanese company that manufactures and sells electric power generation systems, industrial machinery, and other products. The company has a market capitalization of 31.91 billion as of 2022 and a return on equity of 2.58%. Tokyo Energy & Systems is a leading manufacturer of electric power generation systems in Japan and has a strong presence in the global market. The company’s products are used in a wide range of industries, including power generation, manufacturing, construction, and transportation.
Summary
Investors interested in BLINK CHARGING should consider the company’s recent earnings report. In the fourth quarter of FY2022, ending December 31, 2022, total revenue was reported to be USD 28.1 million, a 48.4% decrease from the previous year. Net income, however, was USD 22.6 million, a 184.4% increase from prior year.
This represents a strong growth in profits despite the decrease in revenue, which may bode well for investors looking to make long-term investments in the company. Analysts will need to consider other factors such as competitive landscape and revenue outlook before making an informed decision.
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