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BOWIE, MD - Blink Charging Co. (NASDAQ:BLNK), a prominent provider and manufacturer of electric vehicle (EV) charging equipment and services, has announced its return to compliance with Nasdaq's filing requirements. The company disclosed on Monday that it had filed its Form 10-K for the fiscal year ending December 31, 2024, aligning with the financial results previously released on March 13, 2025. The announcement comes amid challenging market conditions for the company, whose stock has declined over 73% in the past year, according to InvestingPro data.
The Nasdaq notification, dated April 10, 2025, confirms that Blink Charging has met the periodic filing requirement stipulated under Nasdaq Listing Rule 5250(c)(1). This development follows the company's submission of its annual report without any amendments to the financial figures reported in the fourth quarter and full-year 2024 updates. Importantly, the filing did not necessitate any restatements of previously filed financial statements, maintaining the continuity of the company's financial reporting. InvestingPro data shows the company maintains a healthy current ratio of 2.38, with more cash than debt on its balance sheet, though it reported an EBITDA of -$51.16 million in the last twelve months.
Blink Charging operates a global network of EV charging stations, offering a suite of products and services designed to support the adoption of electric vehicles. The company's EV charging network, known as the Blink Network, leverages cloud-based software to manage and monitor its connected charging stations and gather data on charging usage. With a focus on accessibility and convenience, Blink has forged strategic partnerships to expand its charging solutions across various locations, including parking facilities, residential communities, workplaces, and more. The company generated revenue of $126.2 million in the last twelve months, though analysis suggests the stock may be undervalued at current levels, trading at just 0.37 times book value.
The return to compliance with Nasdaq's requirements represents a positive step for Blink Charging, ensuring its continued listing on the stock exchange and adherence to regulatory standards. This news reaffirms the company's commitment to transparent and timely financial reporting, an aspect that is critical for investor confidence. For deeper insights into Blink Charging's financial health, valuation metrics, and growth prospects, investors can access the comprehensive Pro Research Report available on InvestingPro, which includes detailed analysis of the company's performance and future potential.
The information in this article is based on a press release statement from Blink Charging Co.
In other recent news, Blink Charging Co. has confirmed that its annual report filed with the Securities and Exchange Commission (SEC) for the fiscal year ending December 31, 2024, aligns with previously disclosed financial results. The company highlighted that no adjustments were needed, and it is working towards regaining compliance with NASDAQ listing requirements. Additionally, Blink Charging announced an amendment to a merger agreement involving its subsidiary, Envoy Technologies Inc., extending the deadline for a direct listing to June 2, 2025. This amendment aims to facilitate the distribution of shares to former shareholders upon a successful listing. Meanwhile, Blink Charging is addressing a compliance issue with NASDAQ due to a delayed filing of its annual report, with plans to resolve this within the prescribed timeline. Analysts from Stifel have adjusted their outlook on Blink Charging, reducing the stock's price target from $3.50 to $2.00 while maintaining a Hold rating, citing industry challenges and uncertainties in reaching EBITDA breakeven. Despite meeting revenue expectations, Blink Charging faces ongoing industry headwinds that could impact its financial performance. Investors are advised to review these developments as Blink Charging navigates these challenges in the electric vehicle charging sector.
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