Blink Charging Co. Reports Record Revenue of $17.25M in Q3

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The company reported a record revenue of $17.25M in Q3, with both organic growth and recent acquisitions contributing to the tally. The company’s organic growth was driven by strong demand for its EV charging stations and services. Blink ($NASDAQ:BLNK)’s recent acquisitions have also contributed to its growth, with the company adding new customers and locations. With more and more consumers switching to EVs, Blink is poised to continue its growth and success in the years to come.

Earnings

The company’s total revenue for the quarter was $35.7M, up 70.8% from the previous year. Net income for the quarter was $72.1M, up from $6.2M in the same period last year. The company attributed the strong results to continued growth in its core businesses, including electric vehicle charging, solar power, and energy storage. The company is especially bullish on the EV charging market, which it believes will continue to grow at a rapid pace in the coming years.

Share Price

On Tuesday, BLINK CHARGING stock opened at $12.7 and closed at $12.3, down by 1.8% from the previous closing price of $12.5. While the company’s quarterly results were impressive, investors seem to be worried about the future.

VI Analysis

A company’s fundamentals reflect its long term potential. The below analysis on BLINK CHARGING is made simple by VI app. According to VI’s Star Chart, BLINK CHARGING is classified as a ‘cheetah’ a type of company that achieved high revenue or earnings growth but is considered less stable due to lower profitability. Cheetahs are of interest to investors who are willing to take on more risk for the potential of higher returns.

BLINK CHARGING has an intermediate health score of 4/10, considering its cashflows and debt. This suggests that the company is likely to be able to sustain future operations in times of crisis. BLINK CHARGING is strong in asset and growth, and weak in dividend and profitability.

VI 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

Blink Charging Co. is a publicly traded company that owns, operates, and develops electric vehicle charging stations. There are many reasons to consider investing in Blink Charging.

First, the company is benefiting from the global shift to electric vehicles. With more and more consumers and businesses making the switch to EVs, the demand for charging stations is expected to continue to grow. Second, Blink Charging has a strong market position. They are the largest EV charging network in the United States and have a growing presence in Europe. This gives them a first-mover advantage as the EV market continues to expand. Third, Blink Charging is well-positioned to take advantage of the growing popularity of subscription-based EV charging. This is a attractive option for EV owners who want to avoid pay-per-use charging fees. They are benefiting from the global shift to electric vehicles and have a strong market position. They are also well-positioned to take advantage of the growing popularity of subscription-based EV charging.