Maryland-based Blink Charging Co, a global EV charging network operator, has announced its financial results for the third quarter of 2025. As one of the top five US charging networks, and with over 90,000 chargers operating globally, the company’s finances serve as a benchmark for industry health, particularly in the US.
The company reported a year-on-year revenue increase of 7.3%, reaching US$27 million, alongside a 35.5% growth in service revenues. Blink says these results reflect its ongoing efforts to streamline operations and focus on scalable growth as part of its Blink Forward strategy.
Meanwhile, the company’s gross margin improved to 35.8%, while operating cash burn was reduced by 87% sequentially to US$2.2 million. Operating expenses also saw a year-on-year reduction of 26%, adjusted for non-recurring items. Blink’s transition to contract manufacturing, aimed at accelerating production and reducing costs, was highlighted as a key initiative during the quarter.
Michael Bercovich, Blink Charging’s CFO, emphasised the company’s focus on sustainable growth, stating, “This quarter reflects meaningful progress in strengthening our foundation for sustainable and disciplined growth. We have reduced operating expenses, enhanced gross margins, and managed cash burn.”
Disciplined growth
Blink’s Q3 results underscore the company’s commitment to operational efficiency and disciplined growth. The transition to contract manufacturing is a pivotal move, enabling Blink to leverage external expertise while maintaining control over hardware and firmware design. This approach is expected to enhance scalability and reduce overhead costs, accelerating the company’s long-term profitability goals.
Service revenues, which include repeat charging services, network fees, and car-sharing services, grew to US$11.9 million (35.5% up YoY). This growth was driven by increased utilisation and a higher number of chargers in its network. However, product revenues saw a slight decline of 3.1% year-on-year. Blink’s rationale is that this reflects a strategic shift to refining its product portfolio based on inventory with higher profitability potential.
As Blink works through the fourth quarter, its improved financial discipline is expected to drive continued growth.
Mike Battaglia, Blink Charging’s president and CEO, commented, “We’re proud of the strides we made in Q3 2025. Our focus on simplifying operations, reducing costs, and executing with discipline is yielding tangible results as we pursue profitability.”
Blink’s results are a welcome shot in the arm for the industry after Spanish giant Wallbox announced ‘softer than expected’ results last week.
