Blink Charging Reports Q3 Sales Beat

Blink Charging (NASDAQ: BLNK) reported third-quarter sales at $764,490 on Wednesday, which is a 39.80% increase over sales of $546,840 for the same period last year.

Benzinga · 11/13/2019 16:01

Blink Charging (NASDAQ: BLNK) reported third-quarter sales at $764,490 on Wednesday, which is a 39.80% increase over sales of $546,840 for the same period last year.

The company’s net loss for the three months ending Sept. 30 increased by $474,358, or 22%, to $2,622,989 as compared to $2,148,631 for the three months ended Sept. 30, 2018.

Blink Charging Hellas, a Greek entity that Blink owns with Eunice Energy Group, announced its first deployment of Blink EV charging stations in Greece.

The company also installed four dual-port charging stations in Israel, supporting Israel's goal of eliminating the sale of internal combustion engines by the year 2030.

"We continue to focus on sales and marketing expansion, and we can see results in the last two quarters' increase in product sales and network fees,” said Michael Farkas, CEO of Blink Charging in a statement. “We will continue to focus on growing all revenue lines with our unique business model that provides property hosts with a range of solutions tailored to their specific needs."

Blink Charging shares were trading down 8% at $1.56 in Wednesday's session. The stock has a 52-week high of $4.25 and a 52-week low of $1.56.