Blink Charging (BLNK) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue was $21.7 million, down 24–24.5% year-over-year, with service revenue growing 6.2% to $11.5 million and product revenue declining 48.7% to $7.4 million due to strategic repositioning.

• Gross margin expanded to 38.9% (up from 16.8%), with gross profit rising to $8.4 million, reflecting improved revenue quality and cost control.

• Adjusted EBITDA loss improved 72% year-over-year to $(2.2) million, and net loss narrowed to $6.0 million, driven by significant cost reductions.

• Completed the divestiture of Envoy Technologies in June 2026 to focus on core EV charging business and recurring revenue streams.

• Strategic shift prioritizes quality of revenue, margin expansion, and profitability over top-line growth, supported by the BlinkForward Initiative and operational efficiencies.

Financial highlights

• Service revenue reached $11.5 million, now over half of total revenue, while product revenue fell to $7.4 million.

• GAAP gross profit was $8.4 million (38.9% margin), up from $4.8 million (16.8%) in Q2 2025; adjusted gross margin was 47.9%.

• Operating expenses reduced by up to 57% year-over-year to $14.7 million, reflecting cost discipline.

• Net loss improved to $6.0 million from $29.3 million year-over-year; adjusted EBITDA loss improved to $2.2 million from $7.9 million.

• Cash and cash equivalents at quarter-end were $34 million, with net cash burn for the first half of 2026 at $3.4–$5.6 million, down significantly year-over-year.

Outlook and guidance

• Full-year 2026 revenue guidance revised to $83–$90 million, down from $105–$115 million, reflecting focus on profitability and divestiture impacts.

• Full-year GAAP gross margin outlook raised to approximately 38%, up from 35%.

• Targeting adjusted EBITDA breakeven by Q4 2026 and positive full-year adjusted EBITDA in 2027.

• Management expects current cash and future cash flows to fund operations for at least 12 months, but is evaluating additional financing opportunities.

• Expect to return to revenue growth in 2027, driven by charging and energy services.