Blink Charging Posts First Positive Adjusted EBITDA, Cuts 2026 Revenue Outlook

Blink Charging Co. (NASDAQ: BLNK), which is becoming Blink Energy, reported its first positive quarterly adjusted EBITDA in the third quarter of 2026, reaching $175,000 compared with a $7.3 million loss a year earlier. The milestone came as cost reductions and the exit from lower-margin business lifted non-GAAP profitability, even as total revenue fell 32% and the company reduced its full-year revenue outlook.

Third-quarter revenue declined to $18.4 million from $27.1 million in the prior-year period. Product revenue fell 50.8% to $6.4 million, while service revenue, consisting of repeatable charging revenue and recurring network fees, decreased 6.9% to $10.0 million. Other revenue was $1.9 million, down 2.9%, and car-sharing revenue was eliminated following the June 2026 sale of Envoy Technologies.

GAAP gross profit fell 48.1% to $4.8 million, with gross margin narrowing to 26.3% from 34.5%. The quarter included an approximately $3 million non-cash inventory adjustment. Excluding depreciation and non-recurring or non-cash charges, non-GAAP gross margin expanded to 55.0% from 40.9%.

Cost reductions support adjusted profitability

Non-GAAP operating expenses declined 46% year over year to approximately $10.0 million from $18.4 million. Compensation expense fell 42% to $6.8 million, while inventory was reduced by half from year-end to $7.1 million. Blink also cited the Envoy divestiture, lower general and administrative costs, tighter inventory management and the exit from low-margin contracts as factors behind the improvement.

GAAP operating expenses rose 20.5% to $11.8 million. The company recorded a GAAP net loss of $6.7 million, or $0.05 per share, compared with a loss of $332,000, or less than $0.01 per share, a year earlier. On a non-GAAP basis, the net loss narrowed to $3.1 million, or $0.02 per share, from $10.2 million, or $0.09 per share.

Cash and cash equivalents stood at $30.5 million at the end of the quarter, down from $34.0 million in the second quarter and $38.0 million at the end of the first quarter.

Blink broadens its energy-management strategy

The company is repositioning from an EV charging network toward an integrated charging and energy-management platform under the Blink Energy name. Its strategy combines networked chargers, EnergyConnect software and battery storage to help customers manage electricity demand, capacity constraints and demand charges.

Blink has more than 48,000 networked chargers worldwide that it owns, operates or has supplied. As of Nov. 5, EnergyConnect had been deployed at 52 Blink-owned DC fast-charging sites, with 47 actively using load management. The company reported that billed peak demand across high-capacity sites was 21% lower in the system’s first month.

Management plans to make EnergyConnect available to customers in the United States and Europe, seeking subscription revenue from energy-management software and related services. Blink also intends to begin deploying battery storage at DC fast-charging sites where demand charges are highest before expanding to other locations where electricity rates support the economics.

For 2027, the company’s stated priorities include scaling EnergyConnect and battery storage, increasing recurring higher-margin energy-management revenue, and extending its platform from charging sites to buildings and campuses.

2026 revenue outlook reduced

Blink now expects full-year 2026 revenue of $78 million to $81 million, down from its previous range of $83 million to $90 million. The company maintained its expectation for a full-year gross margin of approximately 38%, excluding non-cash inventory charges.

The outlook remains subject to risks including delays in product development and deployment, customer acceptance of Blink’s charging and energy services, technological change, competition, intellectual-property issues and broader market conditions. Execution of the energy-services strategy also depends on the company’s ability to expand EnergyConnect and battery storage across its customer base.