Revenue growth has decelerated into a 10.2% contraction as of 2025Q4, while gross margins remain highly volatile, swinging to a negative 22.1% in 2026Q1.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 |
|---|
| Sales/Revenue | 103.39M | 103.21M | 122.99M | 140.13M | 60.84M | 20.54M | 6.21M | 2.74M | 2.61M | 2.38M | 2.99M | 2.79M | 1.84M | 375.61K | 252.47K | 62.29K | 0 | 0 | 1.63K | 0 |
| Revenue Growth % | -4.35% | -16.08% | -12.23% | 130.31% | 196.22% | 230.81% | 126.85% | 4.81% | 9.75% | -20.51% | 7.34% | 51.45% | 390.22% | 48.77% | 305.32% | - | - | -100% | - | - |
| Cost of Goods Sold | 90M | 78.02M | 86.39M | 100.39M | 46.34M | 18.1M | 4.71M | 2.37M | 1.78M | 1.45M | 2.81M | 2.86M | 5.63M | 3.29M | 199.09K | 62.05K | 260.18K | 0 | 0 | 0 |
| COGS % of Revenue | - | 75.59% | 70.24% | 71.64% | 76.16% | 88.11% | 75.92% | 86.48% | 68.3% | 61.14% | 94% | 102.62% | 306% | 875.03% | 78.86% | 99.61% | - | - | - | - |
| Gross Profit | 13.39M | 25.19M | 36.6M | 39.74M | 14.51M | 2.44M | 1.5M | 370K | 827.71K | 924.77K | 179.67K | -73.09K | -3.79M | -2.91M | 53.38K | 242 | -260K | 0 | 1.63K | 0 |
| Gross Margin % | 12.95% | 24.41% | 29.76% | 28.36% | 23.84% | 11.89% | 24.08% | 13.52% | 31.7% | 38.86% | 6% | -2.62% | -206% | -775.03% | 21.14% | 0.39% | - | - | 100% | - |
| Gross Profit Growth % | - | -31.16% | -7.9% | 173.93% | 494.02% | 63.34% | 304.05% | -55.3% | -10.49% | 414.71% | 345.81% | 98.07% | -30.3% | -5553.78% | 21956.61% | 100.09% | - | -100% | - | - |
| Operating Expenses | 79.46M | 99.87M | 109.89M | 145.08M | 104.38M | 58.11M | 19.31M | 10.84M | 12.44M | 8.35M | 7.39M | 11.25M | 20.7M | 17.14M | 5.23M | 4.09M | 8.63M | 338.79K | 32.32K | 20.88K |
| OpEx % of Revenue | - | 96.77% | 89.35% | 103.53% | 171.55% | 282.92% | 310.98% | 396.13% | 476.34% | 350.85% | 246.97% | 403.3% | 1123.99% | 4562.84% | 2071.65% | 6564.64% | - | - | 1983.01% | - |
| Selling, General & Admin | 49.03M | 29.35M | 31.89M | 35.05M | 28.43M | 48.91M | 16.77M | 8.67M | 11.1M | 7.26M | 6.27M | 10.75M | 11.06M | 15.5M | 4.69M | 3.66M | 8.63M | 338.79K | 32.32K | 20.88K |
| SG&A % of Revenue | - | 28.44% | 25.93% | 25.01% | 46.72% | 238.1% | 270.01% | 316.7% | 425.06% | 305.29% | 209.58% | 385.6% | 600.53% | 4127.46% | 1857.06% | 5873.39% | - | - | 1983.01% | - |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 2M | 70.52M | 78.01M | 110.03M | 75.95M | 9.21M | 2.54M | 2.17M | 1.34M | 1.08M | 1.12M | 493.6K | 9.64M | 1.64M | 541.76K | 430.57K | 0 | 0 | 0 | 0 |
| Operating Income | -66.07M | -74.68M | -73.3M | -105.34M | -89.87M | -55.67M | -17.81M | -10.47M | -11.61M | -7.42M | -7.21M | -11.32M | -24.49M | -20.05M | -5.18M | -4.09M | -8.89M | -339K | -30.69K | -20.88K |
| Operating Margin % | -63.9% | -72.36% | -59.6% | -75.17% | -147.71% | -271.03% | -286.91% | -382.61% | -444.64% | -311.98% | -240.96% | -405.92% | -1330% | -5337.86% | -2050.51% | -6564.25% | - | - | -1883.01% | - |
| Operating Income Growth % | - | -1.88% | 30.42% | -17.21% | -61.44% | -212.5% | -70.11% | 9.82% | -56.42% | -2.92% | 36.28% | 53.78% | -22.14% | -287.29% | -26.61% | 54.02% | -2523.01% | -1004.49% | -47.03% | - |
| EBITDA | -57.7M | -65.08M | -60.55M | -92.9M | -80.32M | -52.94M | -17.13M | -10.05M | -11.25M | -7.01M | -6.35M | -10.38M | -21.5M | -17.36M | -4.91M | -3.96M | -8.88M | -332.39K | -30.69K | -20.88K |
| EBITDA Margin % | -55.8% | -63.06% | -49.23% | -66.3% | -132.02% | -257.73% | -275.95% | -367.37% | -430.83% | -294.64% | -212.17% | -372.38% | -1167.61% | -4622.49% | -1944.16% | -6350.13% | - | - | -1883.01% | - |
| EBITDA Growth % | 6.74% | -7.49% | 34.82% | -15.66% | -51.73% | -208.96% | -70.4% | 10.63% | -60.48% | -10.39% | 38.84% | 51.7% | -23.83% | -253.73% | -24.09% | 55.44% | -2570.29% | -982.96% | -47.03% | - |
| D&A (Non-Cash Add-back) | 8.37M | 9.6M | 12.75M | 12.44M | 9.55M | 2.73M | 680K | 417K | 360.76K | 412.59K | 861.83K | 935.36K | 2.99M | 2.69M | 268.5K | 133.37K | 16.17K | 6.61K | 0 | 0 |
| EBIT | -66.07M | -74.68M | -200.23M | -198.65M | -89.72M | -55.67M | -17.81M | -10.47M | -2.11M | -72.13M | -6.48M | -8.1M | -22.93M | -23.89M | -5.18M | -1.09M | -5.68M | -6.79M | -30.69K | -20.88K |
| Net Interest Income | 890K | 1.04M | 2.5M | -1.64M | -1.07M | 9K | 16.44K | 73K | -1.42M | -3.23M | -1.22M | -146.04K | -1.23M | -934.73K | -112.72K | -54.88K | 0 | 0 | 0 | 0 |
| Interest Income | 907K | 1.05M | 2.94M | 1.91M | 454K | 9K | 16.44K | 73K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 17K | 7K | 431K | 3.55M | 1.53M | 0 | 0 | 0 | 1.31M | 3.23M | 1.22M | 146.04K | 296.69K | 247.44K | 112.72K | 54.88K | 28.58K | 7.64K | 0 | 0 |
| Other Income/Expense | -7.86M | -8.39M | -127.36M | -96.86M | -1.38M | 550K | -32K | 823K | 8.19M | -67.94M | -486.22K | 3.07M | 1.26M | -4.09M | -112.72K | 2.95M | 3.18M | -6.46M | 0 | 0 |
| Pretax Income | -73.92M | -83.07M | -200.66M | -202.2M | -91.25M | -55.12M | -17.85M | -9.65M | -3.42M | -75.36M | -7.7M | -8.24M | -23.23M | -24.14M | -5.29M | -1.14M | -5.71M | -6.8M | -30.69K | -20.88K |
| Pretax Margin % | -71.5% | -80.48% | -163.15% | -144.29% | -149.98% | -268.35% | -287.42% | -352.54% | -131.01% | -3167.26% | -257.21% | -295.66% | -1261.58% | -6426.21% | -2095.15% | -1830.3% | - | - | -1883.01% | - |
| Income Tax | 318K | 317K | 656K | 1.49M | 308K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 28.58K | 7.64K | 0 | 0 |
| Effective Tax Rate % | -0.43% | -0.38% | -0.33% | -0.74% | -0.34% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | -0.5% | -0.11% | 0% | 0% |
| Net Income | -74.24M | -83.39M | -201.32M | -203.69M | -91.56M | -55.12M | -17.85M | -9.65M | -3.42M | -75.36M | -7.7M | -8.63M | -22.7M | -24.14M | -5.29M | -1.14M | -5.71M | -6.8M | -30.69K | -20.88K |
| Net Margin % | -71.8% | -80.79% | -163.69% | -145.36% | -150.49% | -268.35% | -287.42% | -352.54% | -131.01% | -3167.26% | -257.21% | -309.63% | -1232.73% | -6426.21% | -2095.15% | -1830.3% | - | - | -1883.01% | - |
| Net Income Growth % | 63.19% | 58.58% | 1.17% | -122.47% | -66.11% | -208.86% | -84.95% | -182.04% | 95.46% | -878.86% | 10.83% | 61.96% | 5.96% | -356.31% | -363.97% | 80.03% | 16.04% | -22058.15% | -47.03% | - |
| Net Income (Continuing) | -74.24M | -83.39M | -201.32M | -203.69M | -91.56M | -55.12M | -17.85M | -9.65M | -3.42M | -75.36M | -7.7M | -8.24M | -23.23M | -24.14M | -5.29M | -1.14M | -5.71M | -6.8M | -30.69K | -20.88K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -3.83M | -4.01M | -4.4M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.52 | -0.76 | -1.96 | -3.21 | -1.95 | -1.32 | -0.59 | -0.37 | -1.30 | -25.95 | -4.80 | -6.00 | -14.61 | -24.50 | -6.56 | -2.39 | -173.36 | -89.65 | -0.26 | -0.26 |
| EPS Growth % | 66.25% | 61.22% | 38.94% | -64.62% | -47.73% | -123.73% | -59.46% | 71.54% | 94.99% | -440.63% | 20% | 58.93% | 40.37% | -273.48% | -174.48% | 98.62% | -93.37% | -34380.77% | 0% | - |
| EPS (Basic) | - | -0.76 | -1.96 | -3.21 | -1.95 | -1.32 | -0.59 | -0.37 | -1.30 | -25.95 | -4.78 | -6.00 | -14.61 | -24.50 | -6.56 | -2.39 | -173.36 | -89.65 | -0.26 | -0.18 |
| Diluted Shares Outstanding | 143.16M | 109.11M | 100.84M | 63.47M | 46.92M | 41.91M | 30.05M | 26.24M | 20.67M | 3.07M | 1.6M | 1.58M | 1.55M | 1.1M | 806.65K | 477.97K | 32.94K | 75.86K | 118.78K | 116.33K |
| Basic Shares Outstanding | 143.16M | 109.11M | 100.84M | 63.47M | 46.92M | 41.91M | 30.05M | 26.24M | 20.67M | 3.07M | 1.61M | 1.58M | 1.55M | 1.1M | 806.65K | 477.97K | 32.94K | 75.86K | 118.78K | 113.85K |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Liquidity and capital intensity
As reported in recent financial filings, Blink Charging has experienced a significant deceleration in top-line performance, with revenue growth shifting from a peak of 88.2% in 2023Q4 to a contraction of 10.2% by 2025Q4, signaling potential saturation or delays in commercial infrastructure deployment cycles.
The transition from rapid expansion to revenue contraction suggests that the company's reliance on hardware sales is highly sensitive to broader EV adoption trends and project-based funding. Investors should monitor whether this trend reflects a permanent shift in market demand or merely the lumpy nature of government-subsidized infrastructure projects.
Based on the provided income statement data, gross margins have demonstrated extreme volatility, swinging from a negative 22.1% in 2026Q1 to a high of 35.6% in 2025Q3, which highlights the inherent difficulty in maintaining pricing power within a hardware-centric, capital-intensive business model.
The inconsistency in gross margins suggests that Blink struggles to pass through input cost fluctuations to its site hosts. This lack of margin stability complicates the path to profitability, as the company remains unable to consistently leverage its network to offset the costs of hardware procurement.
According to the company's historical income statements, operating losses have persisted despite varying revenue levels, with the operating margin reaching a trough of -106.3% in 2025Q2, indicating that SG&A expenses are not scaling efficiently relative to the company's current revenue generation capacity.
The persistent gap between gross profit and operating income suggests that the company's overhead structure is too heavy for its current scale. Without a significant reduction in operating expenses or a massive surge in high-margin service revenue, the company appears unlikely to achieve operating leverage in the near term.
Financial data indicates that Blink's reliance on an owner-operator model has resulted in a -72.36% average operating margin, raising concerns among analysts regarding the company's ability to reach break-even before exhausting its current cash reserves of approximately $39.5 million in a high-interest-rate environment.
Short-sellers may focus on the disconnect between the company's valuation aspirations and its actual cash burn, which appears to be accelerating during periods of revenue decline. The lack of a clear path to positive net income suggests that the current business model may require further capital infusions, potentially leading to shareholder dilution.
Quick answers to the most common questions about buying BLNK stock.
For fiscal year 2025, Blink Charging Co. (BLNK) reported total revenue of $103.2M.
Blink Charging Co. (BLNK) reported a net loss of $83.4M for the fiscal year ending 2025.
Blink Charging Co. (BLNK) reported an operating income of $-74.7M, resulting in an operating profit margin of -72.4%. This margin reflects the operational efficiency of the business before interest and taxes.
Blink Charging Co. (BLNK) generated $25.2M in gross profit for the year, representing a gross profit margin of 24.4%. This demonstrates the company's core pricing power and production efficiency.