Blink Charging Co. (NASDAQ: BLNK) reported first quarter 2026 financial results, showing a narrowed net loss and improved cash flow compared to the same period last year.

The electric vehicle charging company posted total revenue of $20.8 million for the quarter ended March 31, 2026, essentially flat compared to $20.7 million in the first quarter of 2025. Service revenue increased 25% year-over-year to $13.3 million, while product revenue declined 26.1% to $6.2 million.

Net loss narrowed to $11.6 million, or $0.08 per share, compared to a net loss of $21.0 million, or $0.21 per share, in the prior year period. The company reported positive operating cash flow of approximately $0.7 million in the first quarter, an improvement of $13.7 million from the $13.0 million cash used in operations during the same quarter last year.

Operating expenses decreased 35% to $18.4 million from $28.5 million in the first quarter of 2025. The reduction was driven by lower compensation expenses, general and administrative costs, and other operating expenses.

GAAP gross margin was 32.0% compared to 34.1% in the prior year quarter. Non-GAAP gross margin improved to 42.4% from 40.3% in the first quarter of 2025.

Cash and cash equivalents totaled $38.0 million as of March 31, 2026, compared to $39.6 million at December 31, 2025. The company had no debt as of the quarter end.

Service revenues, which include charging service revenues, network fees, and car-sharing revenues, represented 64.2% of total revenue in the first quarter, up from 51.6% in the same period last year.

The company maintained its full-year 2026 revenue guidance of $105 million to $115 million with anticipated gross margins of approximately 35% on a GAAP basis.