EU and US could reach trade deal this weekend - Reuters
BOWIE, MD - Blink Charging Co. (NASDAQ: BLNK), a prominent provider of electric vehicle (EV) charging solutions, disclosed that it has received a notification from the Nasdaq Stock Market due to non-compliance with the exchange's filing requirements. The notice, dated April 2, 2025, was issued because Blink did not file its annual report (Form 10-K) for the fiscal year ending December 31, 2024, within the prescribed timeframe. The company, currently valued at $76.19 million, has seen its stock decline nearly 69% over the past year, trading near its 52-week low of $0.75. According to InvestingPro analysis, the stock appears undervalued at current levels.
Under Nasdaq's Listing Rules, Blink Charging is required to submit a plan to regain compliance within 60 days of receiving the notice. If Nasdaq accepts the company's plan, Blink may be granted up to 180 days from the original filing deadline, or until September 29, 2025, to file the overdue Form 10-K.
The company has announced that it is working diligently to complete and file the Form 10-K as soon as possible to regain compliance with Nasdaq's Listing Rule 5250(c)(1). Blink Charging made this situation public in accordance with Nasdaq's requirement to disclose such notifications within four business days by issuing a press release and filing a Form 8-K with the Securities and Exchange Commission (SEC) on April 8, 2025.
Blink Charging is known for its Blink Network, a proprietary cloud-based software that manages EV charging stations and collects data on their usage. The company has formed strategic partnerships to expand the adoption of its charging solutions across various locations, including parking facilities, multifamily residences, workplaces, healthcare facilities, educational institutions, and transportation hubs.
Investors and interested parties can find additional information about the Nasdaq notification in Blink Charging's Form 8-K, which is available on the SEC's website at www.sec.gov. This press release statement serves as the source of information for this news article.
In other recent news, Blink Charging Co. has made several notable announcements. The company reported that its fourth-quarter revenue for 2024 met market expectations, although its adjusted EBITDA loss of $10.6 million fell short of some analysts' projections. Stifel analysts revised their price target for Blink Charging, lowering it from $3.50 to $2.00 while maintaining a Hold rating, citing ongoing industry challenges and uncertainty about reaching EBITDA breakeven. Additionally, Blink Charging announced a partnership with Porsche to install 50 EV charging stations across Mexico, enhancing the charging infrastructure for Porsche EV drivers.
In a related development, Blink Charging's subsidiary, Envoy Technologies Inc., amended a merger agreement, extending the deadline for an underwritten IPO to June 2, 2025, and increasing the value of shares to $23.0 million. This amendment is part of Blink Charging's broader strategy to solidify its market position in the electric vehicle infrastructure sector. Despite these efforts, analysts remain cautious, pointing to limited near-term growth opportunities and the need for concrete improvements in the latter half of 2025. Blink Charging continues to focus on cost reduction and revenue growth as it works towards achieving a breakeven EBITDA.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.