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BOWIE, MD. - Blink Charging Co. (NASDAQ: BLNK), a prominent player in the electric vehicle (EV) charging sector currently valued at approximately $75 million, confirmed today that its annual report filed with the Securities and Exchange Commission (SEC) matches the financial results previously disclosed. The company's stock, which has seen a 71% decline over the past year, is currently trading near its 52-week low of $0.74. The Form 10-K report for the fiscal year ending December 31, 2024, mirrors the figures released in the company's fourth-quarter and full-year earnings announcement on March 13, 2025.
The company emphasized that the filing contains no adjustments to the previously reported financial outcomes and does not necessitate any restatement of past financial statements. Blink Charging's submission of the Form 10-K is a step towards regaining compliance with NASDAQ listing requirements, which the company anticipates achieving in the near future. According to InvestingPro data, the company maintains a strong balance sheet with more cash than debt, though analysts do not expect profitability this year.
Blink Charging specializes in the manufacture and provision of EV charging equipment and services, generating annual revenue of $126.2 million with a gross profit margin of 37.3%. The company operates the Blink Network, a proprietary cloud-based system that manages and monitors EV charging stations and data. InvestingPro analysis suggests the stock is currently undervalued, with 13 additional exclusive insights available to subscribers. Blink has forged strategic partnerships to expand the adoption of EV charging solutions across various locations, including parking facilities, residential complexes, workplaces, and other public spaces.
The Form 10-K is publicly accessible on the SEC's website and on the Blink Charging investor relations page. This document provides investors with a comprehensive overview of the company's financial health and business operations as of December 31, 2024. For a deeper analysis of Blink Charging's financial position and growth prospects, investors can access the detailed Pro Research Report available exclusively on InvestingPro, which is part of their coverage of over 1,400 US stocks.
The information in this article is based on a press release statement from Blink Charging Co.
In other recent news, Blink Charging Co. has announced a delay in filing its annual report for the fiscal year ending December 31, 2024, resulting in a Nasdaq compliance issue. The company has received a notification from Nasdaq and must submit a plan to regain compliance within 60 days. Additionally, Stifel analysts have adjusted their outlook on Blink Charging, lowering the price target from $3.50 to $2.00 while maintaining a Hold rating, citing industry challenges and an uncertain timeline for achieving EBITDA breakeven. Meanwhile, Blink Charging has partnered with Porsche to install 50 EV charging stations across Mexico, enhancing infrastructure and offering benefits to Porsche EV drivers. Furthermore, Blink Charging's subsidiary, Envoy Technologies Inc., has amended a merger agreement, extending the deadline for an underwritten IPO and increasing the value of shares to be issued. The amendment aims to provide former Envoy Technologies shareholders with an opportunity to participate in the public market. These developments reflect Blink Charging's ongoing efforts to navigate industry challenges and expand its market presence.
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