# EDGAR Filing Document

**Accession Number:** 0001429764
**File Stem:** 0001493152-26-012950
**Filing Date:** 2026-3
**Character Count:** 35878
**Document Hash:** 12898251f827768dda948b8af081c1e9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-26-012950.hdr.sgml**: 20260326

**ACCESSION NUMBER**: 0001493152-26-012950

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20260326

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260326

**DATE AS OF CHANGE**: 20260326

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Blink Charging Co.
- **CENTRAL INDEX KEY:** 0001429764
- **STANDARD INDUSTRIAL CLASSIFICATION:** MISCELLANEOUS ELECTRICAL MACHINERY, EQUIPMENT & SUPPLIES [3690]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 030608147
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38392
- **FILM NUMBER:** 26798920

**BUSINESS ADDRESS:**
- **STREET 1:** 17301 MELFORD BLVD.,
- **CITY:** BOWIE
- **STATE:** MD
- **ZIP:** 20715
- **BUSINESS PHONE:** (305) 521-0200

**MAIL ADDRESS:**
- **STREET 1:** 17301 MELFORD BLVD.,
- **CITY:** BOWIE
- **STATE:** MD
- **ZIP:** 20715

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Car Charging Group, Inc.
- **DATE OF NAME CHANGE:** 20091207

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NEW IMAGE CONCEPTS, INC
- **DATE OF NAME CHANGE:** 20080313

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, DC 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the**

**Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported): <u>March 26, 2026</u>

---

| |
|:---|
| **BLINK CHARGING CO.** |
| (Exact name of registrant as specified in its charter) |

---

<u>Nevada</u> <u>001-38392</u> <u>03-0608147</u> <br> (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.)

<u>5081 Howerton Way, Suite A Bowie, Maryland</u> <u>20715</u> <br> (Address of Principal Executive Offices) (Zip Code)

Registrant's telephone number, including area code: <u>(305) 521-0200</u>

<u>N/A</u> <br> (Former name or former address, if changed since last report.)

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| Title of Each Class | Trading Symbol(s) | Name of Each Exchange on Which Registered |
| Common Stock | BLNK | The Nasdaq Stock Market LLC |

---

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (*see* General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**CURRENT REPORT ON FORM 8-K**

**Blink Charging Co.**

**March 26, 2026**

**Item 2.02. Results of Operations and Financial Condition.**

Blink Charging Co. (Nasdaq: BLNK) (the "Company"), a leading owner and operator of electric vehicle (EV) charging equipment and services, today announced its financial results for the fourth quarter and full year ended December 31, 2025.

A copy of the press release is furnished with this report as Exhibit 99.1. Such information, including the Exhibit attached hereto, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.

**Item 9.01. Financial Statements and Exhibits.**

(a) Exhibits. The exhibit listed in the following Exhibit Index is filed as part of this current report.

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 99.1 | [Press Release issued by Blink Charging Co. on March 26, 2026.](ex99-1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **BLINK CHARGING CO.** | **BLINK CHARGING CO.** |
| Dated: March 26, 2026 | By: | */s/ Michael Bercovich* |
|  | Name: | Michael Bercovich |
|  | Title: | Chief Financial Officer |

---

## Exhibit 99.1

**Exhibit 99.1**

![](ex99-1_001.jpg)

**BLINK CHARGING ANNOUNCES FOURTH QUARTER AND FULL YEAR 2025 FINANCIAL RESULTS**

*Execution of disciplined operational strategy, strengthened revenue quality, and focused DC fast charging investment continues driving Blink's long term scalable growth.* 

 

**Bowie, MD – March 26, 2026 –** <u>Blink Charging Co</u>. (NASDAQ: BLNK) ("Blink" or the "Company"), a leading global owner, operator, and provider of electric vehicle (EV) charging equipment and services, today announced financial results for the fourth quarter, and full year, ended on December 31, 2025.

**FOURTH QUARTER HIGHTLIGHTS**

● Fourth quarter 2025 total revenues were $27.0 million. Full year 2025 total revenues were $103.5 million.

● Fourth quarter 2025 service revenues grew 62.0% year-over-year (YOY) to $14.7 million. Full year 2025 service revenues increased 44.7% year-over-year to $49.3 million.

● Service revenue represented 54% of total revenue in the fourth quarter of 2025, up from 32% in fourth quarter last year, and 48% for the full year, compared to 27% in 2024.

● Operating expenses down 34% from first quarter of 2025 and 15% sequentially, adjusted for non-recurring items.

● Reduced cash burn by 85% since first quarter to approximately $2 million per quarter for two consecutive quarters. Ended year with $39.5 million in cash and no debt.

**The following top-line highlights are in thousands of US dollars:** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Year Ended** | **Year Ended** | **Year Ended** |
|  | **December 31,** | **December 31,** | **December 31,** | **December 31,** | **December 31,** | **December 31,** |
|  | **2025** | **2024** | **% Change** | **2025** | **2024** | **% Change** |
| Product Revenues | $11037 | $17165 | (35.7)% | $46961 | $81703 | (42.5)% |
| Service Revenues<sup>(1)</sup> | 14680 | 9076 | 61.7% | 49294 | 34064 | 44.7% |
| Other Revenues<sup>(2)</sup> | 1325 | 1779 | (25.5)% | 7265 | 8270 | (12.2)% |
| **Total Revenues** | $**27042** | $**28020** | **(3.5)%** | $**103520** | $**124037** | **(16.5)%** |

---

&nbsp;&nbsp;&nbsp;&nbsp;*(1)* *Service Revenues consist of repeatable charging service revenues, recurring network fees, and car-sharing service revenues.* 

*(2)* *Other Revenues consist of warranty fees, grants and rebates, and other revenues.* 

Mike Battaglia, President and CEO of Blink Charging, commented, "2025 was defined by our disciplined execution and strengthening the core of our business. We streamlined operations and our cost structure, improved margins and grew repeatable and recurring service revenue, putting Blink on a resilient and scalable path. Blink is now operating as a faster, leaner organization with a durable long-term direction, and we will continue executing with that same focus as we expand our owner-operated DC fast charging network in the most lucrative markets. We're proud for delivering on our commitments in 2025, and we now look forward to scaling and continuing to drive."

Michael Bercovich, Chief Financial Officer of Blink Charging, commented, "Throughout 2025, Blink made deliberate structural improvements to our financial profile. We significantly reduced our operating expenses, improved transparency in reporting, and continued optimizing our operational processes to match our scale and goals. The successful and efficient completion of our December 2025 capital raise is a clear reflection of market confidence in the foundation Blink has built, the Company's long-term direction, and the value of our growing DC fast-charging owner-operated footprint. The raise and its outcome reinforce the credibility of the strategy we're pursuing and validate our position as a debt-free company committed to accretive investment. With a clean capital structure and a focused investment approach, we are well positioned to scale thoughtfully and sustainably."

**PUBLIC EQUITY OFFERING**

In December 2025, the Company completed a <u>$20 million public equity offering</u> on NASDAQ capital markets, strengthening the Company's liquidity and accelerating investment in Blink's owner-operated DC fast charging footprint. This disciplined approach focuses on building durable, high-value infrastructure rather than maximizing raw installation volume.

**BUSINESS OUTLOOK AND GUIDANCE**

Based on current visibility, the Company expects continued growth in repeatable charging services and network recurring revenue, supported by improving utilization trends, and expansion of DC fast charging deployments. The shift toward higher quality, repeatable, and recurring service revenue remains a core strategic priority. The Company expects margin contribution from this segment to strengthen as utilization and network density continue to increase.

Product revenue is projected to reflect continued discipline following the transition to contract manufacturing, with a strong focus on capital-efficient opportunities. Blink is committed to scalable and sustainable operational and financial progress. For the full year 2026, the Company expects revenue to be in the range of $105 million to $115 million, with gross margins of approximately 35%. The Company also anticipates significantly reduced Adjusted EBITDA losses compared to prior periods. Management expects continued operational improvements to position the Company for profitability.

**FOURTH QUARTER AND FULL YEAR 2025 FINANCIAL RESULTS** 

**REVENUES**

Total revenues were $27.0 million in the fourth quarter of 2025 and $103.5 million for full year 2025. This compares to full year 2024 revenues of $124.0 million.

Product revenues were $11.0 million in the fourth quarter of 2025, compared to $17.2 million in the fourth quarter of 2024. In total, product revenues were $47.0 million in 2025 compared to $81.7 million in 2024.

Service revenues, which consist of repeatable charging service revenues, recurring network fees, and car-sharing service revenues, increased by $5.6 million or 62% to $14.7 million in the fourth quarter of 2025, compared to service revenues of $9.1 million in the fourth quarter of 2024. Service revenues were a record 54% of total revenue in the fourth quarter 2025 compared with 32% in the same period of last year.

Service revenues for 2025 were $49.3 million compared to $34.1 million in 2024, a 45% increase. Service revenues represented 48% of full year 2025 revenue versus 27% for full year 2024.

Other revenues, which comprised warranty fees, grants and rebates, and additional sources, were $1.3 million in the fourth quarter of 2025, compared to $1.8 million in the fourth quarter of 2024. In 2025, other revenues totaled $7.3 million as compared to $8.3 million in 2024.

**GROSS PROFIT**

Gross profit was $4.3 million or 15.8% of revenues in the fourth quarter of 2025, compared to gross profit of $4.4 million, or 15.7% of revenues, in the fourth quarter of 2024. Gross profit in the fourth quarter of 2025 included non-cash charges of $5.9 million, primarily driven by legacy inventory adjustments related to Blink's realignment to contract manufacturing and optimized inventory levels. Excluding the impact of these charges, the gross profit would have been $10.2 million or 37.8% of revenues.

Gross profit in 2025 was $25.5 million or 24.6% of revenues compared to $37.6 million or 30.3% of revenues in the same prior year period. In 2025, the decrease in gross profit was primarily impacted by non-cash inventory adjustments of $11.8 million. Excluding the impact of these charges, the gross profit would have been $37.3 million or 36% for the full year 2025.

**OPERATING EXPENSES**

Operating expenses in the fourth quarter of 2025 decreased by 54% to $37.0 million compared to $81.2 million in the fourth quarter of 2024. Operating expenses in the fourth quarter of 2025 included $18.7 million related to the impairment of goodwill and intangible assets of the Mobility segment.

Operating expenses for the full year of 2025 were $109.6 million compared to $240.8 million in the same period of 2024.

**NET LOSS AND LOSS PER SHARE** 

Net Loss for the fourth quarter of 2025 was $(32.7) million, or $(0.28) per basic and diluted share, compared to a net loss of $(76.7) million, or loss of $(0.76) per basic and diluted share in the fourth quarter of 2024. The total net loss in 2025 was $(83.4) million or loss of $(0.76) per basic and diluted share, compared to a total net loss in 2024 of $(201.3) million or loss of $(2.00) per basic and diluted share.

As of December 31, 2025, Blink's weighted average number of shares outstanding was 109.1 million. As of December 31, 2024, the weighted average number of shares outstanding was 100.8 million.

**ADJUSTED EBITDA AND ADJUSTED EPS** 

Adjusted EBITDA for the fourth quarter of 2025 was a loss of $(10.3) million compared to an adjusted EBITDA loss of $(14.8) million in the same period of 2024. Total adjusted EBITDA for 2025 was a loss of $(58.1) million compared to a total adjusted EBITDA loss of $(52.7) million in 2024.

Adjusted EBITDA (defined as earnings/loss before interest income/expense, income taxes expense, depreciation and amortization, stock-based compensation, acquisition related costs, impairment of goodwill and intangible assets, loss related to underperforming assets of subsidiary, change in fair value related to consideration payable) is a non-GAAP financial measure management uses as a proxy for net income/loss. See "Non-GAAP Financial Measures" for a reconciliation of GAAP to Non-GAAP financial measures included at the end of this release.

Adjusted EPS for the fourth quarter of 2025 was a loss of $(0.11) compared to an adjusted EPS loss of $(0.17) in the fourth quarter of 2024. Total adjusted EPS in 2025 was a loss of $(0.63) compared to a total adjusted EPS loss of $(0.64) in the same period of 2024.

Adjusted EPS (defined as earnings/loss per diluted share) is a non-GAAP financial measure management uses to assess earnings/loss per diluted share excluding non-recurring items such as amortization expense of intangible assets, acquisition-related costs, impairment of goodwill and intangible assets, loss related to disposal of underperforming assets of subsidiary, change in fair value related to consideration payable, and assets impairments. See "Non-GAAP Financial Measures" for a reconciliation of GAAP to Non-GAAP financial measures included at the end of this release.

**CASH LIQUIDITY** 

As of December 31, 2025, cash, cash equivalents, and marketable securities totaled $39.6 million compared to $55.4 million as of December 31, 2024. Blink had no debt as of December 31, 2025.

**EARNINGS CONFERENCE CALL** 

Blink Charging will host a conference call and webcast to discuss fourth quarter 2025 results today, March 26, 2026, at 4:30 p.m. Eastern Time.

To access the live webcast, log onto the Blink Charging website at <u>www.blinkcharging.com</u>, and click on the News/Events section of the Investor Relations page. Investors may also access the webcast via the following link:

<u>https://www.webcaster5.com/Webcast/Page/2468/53795</u>

To participate in the call by phone, dial (888) 506-0062 approximately five minutes prior to the scheduled start time. International callers please dial +1 (973) 528-0011. Callers should use participant access code: 218910.

A replay of the teleconference will be available until April 23, 2026, and may be accessed by dialing (877) 481-4010. International callers may dial (919) 882-2331. Callers should use replay passcode: 53795.

###

BLINK CHARGING CO.

CONSOLIDATED STATEMENTS OF OPERATIONS

(IN THOUSANDS, EXCEPT FOR SHARE AND PER SHARE AMOUNTS)

(UNAUDITED)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the Three Months Ended** | **For the Three Months Ended** | **Year Ended** | **Year Ended** |
|  | **December 31,** | **December 31,** | **December 31,** | **December 31,** |
|  | **2025** | **2024** | **2025** | **2024** |
| **Revenues:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Product sales | $11037 | $17165 | $46961 | $81703 |
| &nbsp;&nbsp;&nbsp;Charging service revenue | 9288 | 6228 | 32285 | 21445 |
| &nbsp;&nbsp;&nbsp;Network fees | 4100 | 1648 | 12200 | 7952 |
| &nbsp;&nbsp;&nbsp;Warranty | 206 | 1989 | 3842 | 5687 |
| &nbsp;&nbsp;&nbsp;Grant and rebate | 59 | (569) | 310 | 1048 |
| &nbsp;&nbsp;&nbsp;Car-sharing services | 1292 | 1200 | 4809 | 4667 |
| &nbsp;&nbsp;&nbsp;Other | 1060 | 359 | 3113 | 1535 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Revenues | 27042 | 28020 | 103520 | 124037 |
| **Cost of Revenues:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Cost of product sales | 13998 | 15831 | 41715 | 55796 |
| &nbsp;&nbsp;&nbsp;Cost of charging services | 1203 | 689 | 4524 | 2613 |
| &nbsp;&nbsp;&nbsp;Host provider fees | 5118 | 3564 | 17665 | 12870 |
| &nbsp;&nbsp;&nbsp;Network costs | 528 | 583 | 2254 | 2399 |
| &nbsp;&nbsp;&nbsp;Warranty and repairs and maintenance | 611 | 722 | 3538 | 2602 |
| &nbsp;&nbsp;&nbsp;Car-sharing services | 1076 | 1167 | 4266 | 4469 |
| &nbsp;&nbsp;&nbsp;Depreciation and amortization | 234 | 1070 | 4055 | 5643 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Cost of Revenues | 22768 | 23626 | 78017 | 86392 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gross Profit | 4274 | 4394 | 25503 | 37645 |
| **Operating Expenses:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Compensation | 10466 | 10895 | 49478 | 58665 |
| &nbsp;&nbsp;&nbsp;General and administrative expenses | 3379 | 8105 | 29349 | 31887 |
| &nbsp;&nbsp;&nbsp;Other operating expenses | 4478 | 4254 | 21355 | 20391 |
| &nbsp;&nbsp;&nbsp;Change in fair value of consideration payable and earn-out liabilities |  | 99 | (9238) | 2910 |
| &nbsp;&nbsp;&nbsp;Impairment of goodwill | 17897 | 57873 | 17897 | 126984 |
| &nbsp;&nbsp;&nbsp;Impairment of intangible assets | 762 | - | 762 | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Operating Expenses | 36982 | 81226 | 109603 | 240837 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss From Operations | (32708) | (76832) | (84100) | (203192) |
| **Other Income (Expense):** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Interest expense (expense) | (9) | 44 | 19 | (431) |
| &nbsp;&nbsp;&nbsp;Dividend income | 138 | 572 | 1021 | 2935 |
| &nbsp;&nbsp;&nbsp;Gain (loss) on extinguishment of notes payable |  |  |  | 36 |
| &nbsp;&nbsp;&nbsp;Change in fair value of derivatives and other accrued liabilities | - | 1 | (8) | (10) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Other Income (Expense) | 129 | 617 | 1032 | 2530 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss Before Income Taxes | (32579) | (76215) | (83068) | (200662) |
| &nbsp;&nbsp;&nbsp;Provision for income taxes | (154) | (482) | (317) | (656) |
| **Net Loss** | (32733) | (76697) | (83385) | (201318) |
| Net Loss Per Share: |  |  |  |  |
| Basic | $(0.28) | $(0.76) | $(0.76) | $(2.00) |
| Diluted | $(0.28) | $(0.76) | $(0.76) | $(2.00) |
| Weighted Aver Number of Common Shares Outstanding |  |  |  |  |
| Basic | 115891622 | 101165997 | 109107002 | 100844970 |
| Diluted | 115891622 | 101165997 | 109107002 | 100844970 |

---

BLINK CHARGING CO.

CONSOLIDATED BALANCE SHEETS

(IN THOUSANDS, EXCEPT FOR SHARE AMOUNTS)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(UNAUDITED)

---

| | | |
|:---|:---|:---|
|  | **December 31,** | **December 31,** |
|  | **2025** | **2024** |
| **Assets** |  |  |
| Current Assets: |  |  |
| &nbsp;&nbsp;&nbsp;Cash and cash equivalents | $39568 | $41774 |
| &nbsp;&nbsp;&nbsp;Marketable securities |  | 13630 |
| &nbsp;&nbsp;&nbsp;Accounts receivable, net | 29532 | 42072 |
| &nbsp;&nbsp;&nbsp;Inventory | 14153 | 36608 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 6065 | 5396 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Current Assets | 89318 | 139480 |
| Restricted cash | 89 | 78 |
| Property and equipment, net | 42691 | 37381 |
| Operating lease right-of-use asset | 6331 | 9212 |
| Intangible assets, net | 6634 | 10388 |
| Goodwill | 1742 | 17897 |
| Other assets | 648 | 590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Assets | $147453 | $215026 |
| **Liabilities and Stockholders' Equity** |  |  |
| Current Liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;Accounts payable, accrued expenses and other current liabilities | 47242 | 38875 |
| &nbsp;&nbsp;&nbsp;Current portion of earn-out liabilities | 1005 |  |
| &nbsp;&nbsp;&nbsp;Notes payable | 265 | 265 |
| &nbsp;&nbsp;&nbsp;Current portion of operating lease liabilities | 2781 | 3216 |
| &nbsp;&nbsp;&nbsp;Current portion of financing lease liabilities | 42 | 34 |
| &nbsp;&nbsp;&nbsp;Current portion of deferred revenue | 12137 | 17078 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Current Liabilities | 63472 | 59468 |
| Consideration payable, non-current portion |  | 21028 |
| Earn-out liabilities, non-current portion | 981 |  |
| Operating lease liabilities, non-current portion | 4804 | 7162 |
| Financing lease liabilities, non-current portion | 64 | 97 |
| Deferred revenue, non-current portion | 5145 | 5060 |
| Other liabilities | 8497 | 6695 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Liabilities | 82963 | 99510 |
| Commitments and contingencies (Note 16) |  |  |
| Stockholders' Equity: |  |  |
| &nbsp;&nbsp;&nbsp;Preferred stock, $0.001 par value, 40,000,000 shares authorized, 0 shares issued and outstanding as of December 31, 2025 and 2024, respectively |  |  |
| &nbsp;&nbsp;&nbsp;Common stock, $0.001 par value, 500,000,000 shares authorized, 142,128,133 and 101,970,907 shares issued and outstanding as of December 31, 2025 and 2024, respectively | 142 | 102 |
| &nbsp;&nbsp;&nbsp;Additional paid-in capital | 895505 | 860300 |
| &nbsp;&nbsp;&nbsp;Accumulated other comprehensive loss | (8731) | (5845) |
| &nbsp;&nbsp;&nbsp;Accumulated deficit | (822426) | (739041) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Stockholders' Equity | 64490 | 115516 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Liabilities and Stockholders' Equity | $147453 | $215026 |

---

BLINK CHARGING CO. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(IN THOUSANDS)

(UNAUDITED)

---

| | | |
|:---|:---|:---|
|  | **For the Year Ended** | **For the Year Ended** |
|  | **December 31,** | **December 31,** |
|  | **2025** | **2024** |
| **Cash Flows From Operating Activities:** |  |  |
| &nbsp;&nbsp;&nbsp;Net loss | $(83385) | $(201318) |
| &nbsp;&nbsp;&nbsp;Adjustments to reconcile net loss to net cash used in operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 9596 | 12751 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-cash lease expense | 4352 | 3666 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-cash gain on lease termination | (72) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Impairment of goodwill | 17897 | 126984 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Impairment of intangible assets | 762 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in fair value of derivatives and other accrued liabilities | 8 | 10 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision for credit losses | 3894 | 1720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Gain) loss on extinguishment of notes payable |  | (36) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss (gain) on disposal of property and equipment | 3112 | 1969 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision for slow moving and obsolete inventory | 6619 | 4024 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in fair value of consideration payable | (9238) | 2910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 2764 | 3525 |
| &nbsp;&nbsp;&nbsp;Changes in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable | 9892 | (906) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventory | 14840 | 500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | (2117) | (30) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other assets | (27) | 68 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable, accrued expenses, and other current liabilities | 7690 | (3768) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other liabilities | (7617) | 6358 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating lease liabilities | (4285) | (3222) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred revenue | (5542) | (3497) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Adjustments** | 52528 | 153026 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net Cash Used In Operating Activities** | (30857) | (48292) |
| **Cash Flows From Investing Activities:** |  |  |
| &nbsp;&nbsp;&nbsp;Proceeds from sale of marketable securities | 13630 | 10500 |
| &nbsp;&nbsp;&nbsp;Proceeds from sale of equity method investment | 223 |  |
| &nbsp;&nbsp;&nbsp;Purchase of marketable securities |  | (1160) |
| &nbsp;&nbsp;&nbsp;Proceeds from government grants | 4811 | 1130 |
| &nbsp;&nbsp;&nbsp;Purchase consideration of Zemetric, net of cash acquired | (207) |  |
| &nbsp;&nbsp;&nbsp;Proceeds from sale of property and equipment |  | 3425 |
| &nbsp;&nbsp;&nbsp;Capitalization of engineering costs | (205) |  |
| &nbsp;&nbsp;&nbsp;Purchases of property and equipment | (9708) | (8617) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net Cash Provided By Investing Activities** | 8544 | 5278 |
| **Cash Flows From Financing Activities:** |  |  |
| &nbsp;&nbsp;&nbsp;Proceeds from sale of common stock in public offering [1] | 19417 | 26396 |
| &nbsp;&nbsp;&nbsp;Repayment of financing liability in connection with finance lease | (36) | (596) |
| &nbsp;&nbsp;&nbsp;Repayment of notes payable | (114) | (37881) |
| &nbsp;&nbsp;&nbsp;Other | - | (338) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net Cash Provided By (Used In) Financing Activities** | 19267 | (12419) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Effect of Exchange Rate Changes on Cash and Cash Equivalents** | 851 | (1515) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net (Decrease) Increase In Cash and Cash Equivalents and Restricted Cash** | (2195) | (56948) |
| **Cash and Cash Equivalents and Restricted Cash - Beginning of Year** | 41852 | 98800 |
| **Cash and Cash Equivalents and Restricted Cash - End of Year** | $39657 | $41852 |
| Cash and cash equivalents and restricted cash consisted of the following: |  |  |
| &nbsp;&nbsp;&nbsp;Cash and cash equivalents | $39568 | $41774 |
| &nbsp;&nbsp;&nbsp;Restricted cash | 89 | 78 |
|  | $39657 | $41852 |

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| | |
|:---|:---|
| [1] | For the year ended December 31, 2025, includes gross proceeds of $20,909, less issuance costs of $1,492. |
|  | For the year ended December 31, 2024, includes gross proceeds of $27,004, less issuance costs of $608. |

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NON-GAAP FINANCIAL MEASURES

The following table reconciles Net Loss attributable to Blink Charging to EBITDA and Adjusted EBITDA for the periods shown:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the Three Months Ended** | **For the Three Months Ended** | **Year Ended** | **Year Ended** |
|  | **December 31,** | **December 31,** | **December 31,** | **December 31,** |
|  | **2025** | **2024** | **2025** | **2024** |
| Net Loss | $(32733) | $(76697) | $(83385) | $(201318) |
| Add: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Interest Expense | 9 | (44) | (19) | 431 |
| &nbsp;&nbsp;&nbsp;Provision for Income Taxes | 154 | 482 | 317 | 656 |
| &nbsp;&nbsp;&nbsp;Depreciation and amortization | 3048 | 2856 | 12832 | 13408 |
| **EBITDA** | **(29522)** | **(73403)** | **(70255)** | **(186823)** |
| Add: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Stock-based compensation | 577 | 675 | 2719 | 3552 |
| &nbsp;&nbsp;&nbsp;Acquisition-related costs |  |  |  | 26 |
| &nbsp;&nbsp;&nbsp;Impairment of goodwill and intangible assets | 18659 | 57873 | 18659 | 126984 |
| &nbsp;&nbsp;&nbsp;Estimated loss related to underperforming assets of subsidiary |  |  |  | 676 |
| &nbsp;&nbsp;&nbsp;Change in fair value related to consideration payable |  | 99 | (9238) | 2910 |
| **Adjusted EBITDA** | $**(10286)** | $**(14756)** | $**(58115)** | $**(52675)** |

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The following table reconciles EPS attributable to Blink Charging to Adjusted EPS for the periods shown:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the Three Months Ended** | **For the Three Months Ended** | **Year Ended** | **Year Ended** |
|  | **December 31,** | **December 31,** | **December 31,** | **December 31,** |
|  | **2025** | **2024** | **2025** | **2024** |
| **Net loss – per basic and diluted share** | $**(0.28)** | $**(0.76)** | $**(0.76)** | $**(2.00)** |
| Add: Amortization expense of intangible assets | $0.01 | $0.01 | $0.04 | $0.06 |
| &nbsp;&nbsp;&nbsp;Acquisition-related costs | $- | $- | $- | $0.00 |
| &nbsp;&nbsp;&nbsp;Impairment of goodwill and intangible assets | $0.16 | $0.57 | $0.17 | $1.26 |
| &nbsp;&nbsp;&nbsp;Loss related to underperforming assets of subsidiary | $- | $- | $- | $0.01 |
| &nbsp;&nbsp;&nbsp;Change in fair value related to consideration payable | $- | $0.00 | $(0.08) | $0.03 |
| **Adjusted EPS** | $**(0.11)** | $**(0.17)** | $**(0.63)** | $**(0.64)** |

---

Blink Charging Co. publicly reports its financial information in accordance with accounting principles generally accepted in the United States of America ("US GAAP"). To facilitate external analysis of the Company's operating performance, Blink Charging also presents financial information that is considered "non-GAAP financial measures" under Regulation G and related reporting requirements promulgated by the U.S. Securities and Exchange Commission. Non-GAAP measures should be considered in addition to, and not as a substitute for, or superior to, Net Income (Loss) or other measures of financial performance prepared in accordance with GAAP and may be different than those presented by other companies, including Blink Charging's competitors. EBITDA and Adjusted EBITDA are not performance measures calculated in accordance with GAAP and are, therefore, considered non-GAAP measures. Reconciliation tables are presented above.

EBITDA is defined as earnings (loss) attributable to Blink Charging before interest income (expense), provision for income taxes, depreciation and amortization. Blink Charging believes EBITDA is useful to its management, securities analysts, and investors in evaluating operating performance because it is one of the primary measures used to evaluate the economic productivity of the Company's operations, including its ability to obtain and maintain its customers, its ability to operate its business effectively, the efficiency of its employees and the profitability associated with their performance. It also helps Blink Charging's management, securities analysts, and investors to meaningfully evaluate and compare the results of the Company's operations from period to period on a consistent basis by removing the impact of its merger and acquisition expenses, financing transactions, and the depreciation and amortization impact of capital investments from its operating results.

The Company also believes that Adjusted EBITDA (defined as EBITDA adjusted for non-recurring or non-cash items such as stock-based compensation, acquisition related costs, impairment of goodwill and intangible assets, loss related to underperforming assets of subsidiary, change in fair value related to consideration payable) is useful to securities analysts and investors to evaluate the Company's core operating results and financial performance because it excludes items that are significant non-cash or non-recurring expenses reflected in the Consolidated Statements of Operations.

Our definition of Adjusted EBITDA and Adjusted EPS may differ from other companies reporting similarly named measures. These measures should be considered in addition to, and not as a substitute for, or superior to, other measures of financial performance prepared in accordance with GAAP, such as Net Loss, and Diluted Earnings per Share.

**About Blink Charging**

Blink Charging Co. (NASDAQ: BLNK) is a global leader in electric vehicle (EV) charging equipment and services, enabling drivers, hosts, and fleets to easily transition to electric transportation through innovative charging solutions. Blink's principal line of products and services include Blink's EV charging network ("Blink Network"), EV charging equipment, and EV charging services. The Blink Network uses proprietary, cloud-based software that operates, maintains, and tracks the EV charging stations connected to the network and the associated charging data. Blink has established key strategic partnerships for rolling out adoption across numerous location types, including parking facilities, multifamily residences and condos, workplace locations, health care/medical facilities, schools and universities, airports, auto dealers, hotels, mixed-use municipal locations, parks and recreation areas, religious institutions, restaurants, retailers, stadiums, supermarkets, and transportation hubs.

For more information, please visit <u>https://blinkcharging.com</u>/

**Forward-Looking Statements**

This 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. These forward-looking statements, and terms such as "anticipate," "expect," "intend," "may," "will," "should" or other comparable terms, involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. Those statements include statements regarding the intent, belief or current expectations of Blink Charging 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, including achieving projected revenue, adjusted EBITDA and gross margin targets as described in Blink Charging's periodic reports filed with the SEC, and that actual results may differ materially from those contemplated by such forward-looking statements. Except as required by federal securities law, Blink Charging undertakes no obligation to update or revise forward-looking statements to reflect changed conditions.

**Blink Investor Relations Contact**

Vitalie Stelea

<u>IR@BlinkCharging.com</u>

**Blink Media Contact**

Felicitas Massa

<u>PR@BlinkCharging.com</u>