Blink Charging Posts First Adjusted Operating Profit, Cuts 2026 Revenue Outlook
Key Facts
Blink Charging reported revenue of $18.4 million for the third quarter on November 5, 2026, down 32.0% from the same period in 2025. Management said revenue fell short of its internal expectations mainly because customer projects were not completed and their revenue was not recognized during the quarter. The company, however, posted adjusted earnings before interest, taxes, depreciation and amortization of $0.2 million, its first positive quarter on this measure, compared with a loss of $7.3 million a year earlier. The operational improvement did not prevent the accounting net loss from widening to $6.7 million, or $0.05 per diluted share, from a loss of $0.3 million, or $0.00 per share, in the third quarter of 2025. The company said last year's results included a non-cash gain of $11.7 million related to fair value, making that difference important when comparing the two losses. Investing.com data, citing Reuters, showed reported adjusted earnings per share of negative $0.02, beating analysts' estimate of negative $0.05 by $0.03, while revenue came in below the consensus estimate of $22.96 million.
The revenue decline came from contractions in both product and service sales, though to different degrees. Product revenue fell 50.8% year over year to $6.413 million, while service revenue declined 6.9% to $10.035 million. The company attributed the entire drop in service revenue to a deliberate decision not to renew a large contract in Europe. Meanwhile, network fee revenue, a recurring component of service revenue, rose 6.3% year over year to about $2.9 million, according to the company. Blink had 45,833 chargers connected to its network on September 30, 2026, including about 6,582 company-owned chargers, putting growth in network fees in the context of the device base it operates.
Gross profit was $4.8 million, with a GAAP gross margin of 26.3%. The quarter included a non-cash inventory adjustment of about $3 million, and the company said gross margin would have reached 41.7% excluding that impact. The gap between the reported and adjusted margins reflects the effect of the inventory item on the period's sales profitability, alongside the revenue decline. Blink also cut non-GAAP operating expenses 46% year over year to $10.0 million. Management cited lower expenses as part of the improvement in adjusted performance, which moved from a loss of $7.3 million to a profit of $0.2 million over the year.
Cash and equivalents totaled about $30.5 million on September 30, 2026, compared with $34.0 million on June 30 of the same year. The company said it had no debt. These figures follow a decline in quarterly revenue and a cut to the annual outlook, while the company reported improved operating expenses and margin excluding the inventory adjustment. Blink shares closed at $0.41 on November 5, according to Investing.com, citing Reuters. The shares were down 33.310% over three months and 72.980% over twelve months, based on data published that day.
Blink lowered its 2026 revenue outlook to $78–81 million from its previous range of $83–90 million, saying its focus on revenue quality was behind the revision. The company maintained its forecast for an annual gross margin of about 38%, excluding the non-cash inventory adjustment. On the operating measure, management said it expected adjusted earnings before interest, taxes, depreciation and amortization to remain positive in the fourth quarter of 2026. The company also expects to return to revenue growth in 2027 and plans to issue formal financial guidance for that year alongside its full-year 2026 results. The company had scheduled a call to discuss its third-quarter results for November 5, 2026, at 4:30 p.m. Eastern time, and said a recording would remain available until December 3, 2026.