Blink Charging (NASDAQ: BLNK) reported Q2 EPS of ($0.32), $0.16 worse than the analyst estimate of ($0.16). Revenue for the quarter rose 177% to $4.4 million versus the consensus estimate of $2.44 million.

"Blink experienced extraordinary growth in the quarter as we continue to aggressively scale our business and expand our presence around the world. We saw strong performance both in our hardware sales as well as our service revenues as more EV’s took to the road and utilized Blink’s expanding base of charging stations. This is an exciting and transformative time for Blink, and we believe that we have positioned ourselves to continue to lead the way in the booming global EV infrastructure market,” stated Michael D. Farkas, CEO of Blink Charging.

“Over this past quarter, we have focused on enlisting the best talent available to continue to build a world class company,” Mr. Farkas continued. “As such, we’ve strengthened our management team with several new additions, highlighted by EV charging industry veteran, Harjinder Bhade coming on board as Blink’s new Chief Technology Officer. Harjinder is a top mind in the industry, and I am confident that his proven track record of success as a software engineer and senior executive will be instrumental to the growth of Blink Charging. We’ve also added Miko de Haan as the managing director of our European subsidiary Blink Holdings B.V and Carmen Perez Carlton, a technology and infrastructure leader, to our board of directors.”

Brendan Jones, President of Blink Charging, commented, “We are encouraged by the continued revenue growth and particularly the momentum we are seeing in our owner/operator business model. Over this past quarter we began to see an increase in service revenue as the economy reopens and drivers increasingly utilize Blink owned and operated charging stations. EV infrastructure is becoming a global priority as government entities, businesses, and local communities encourage the adoption of electric vehicles to promote sustainability and a greener, cleaner environment, and Blink is well positioned to be a leader in this transition.

“As we enter into the latter half of 2021, we remain intently focused on scaling our business and continuing to expand our charging footprint both domestically and internationally,” continued Mr. Farkas. “Through our unique owner/operator business model, we target high-density, high-volume locations such as hotels, multi-family residences and healthcare centers. These agreements utilize long-term, renewable contracts with a revenue sharing model in which we receive payment each time a vehicle is charged at a Blink-owned unit, creating the potential to generate a valuable recurring revenue stream as utilization increases.”

For earnings history and earnings-related data on Blink Charging (BLNK) click here.