Blink Charging Co. (NASDAQ: BLNK) shares gained ground early Wednesday, as the leading manufacturer, owner, operator, and provider of electric vehicle (EV) charging equipment and services, today announced that it anticipates its fourth-quarter 2023 revenue to surpass $42 million. With this achievement, the Company expects full-year 2023 revenue to surpass $140 million, exceeding its previously announced revenue target of $128 – $133 million.
CEO Brendan Jones: “We are excited about our record-breaking fourth-quarter and full-year 2023 revenue growth. We saw strong demand for both our equipment and services. This is the result of consistent and systematic steps that we took to strengthen our product portfolio and service offerings, supported by our vertical integration strategy and dedicated customer service team”.
Blink also reaffirmed its target of achieving a positive Adjusted EBITDA run rate by December 2024.
The success of Blink’s demonstrated progress reflects on the proven track record in strategically deploying nationwide EV charging infrastructure and ensuring widespread charger availability.
The Miami Beach-based Blink has contracted, sold, or deployed nearly 85,000 charging ports worldwide, many of which are networked EV charging stations, enabling EV drivers to easily charge at any of Blink’s charging locations.
Shares in BLNK leaped 49 cents, or 18.3%, early Wednesday to $3.17.