Blink's Bumpy Road: Analyst Flags Sluggish Product Sales As Key Concern, Trims Estimates

H.C. Wainwright & Co. analyst Sameer Joshi trimmed the price forecast for Blink Charging Co. BLNK from $8 to $5 while keeping a Buy rating.

On May 12, Blink reported first-quarter losses of 18 cents per share, which missed the analyst consensus estimate of losses of 14 cents. Revenue came in at $20.75 million, which missed the Street estimate of $27.6 million.

The analyst’s bearish stance reflects ongoing weakness in product sales, which declined 69.5% year-over-year to $8.4 million in the first quarter of 2025.

Also Read: Blink Expands In Mexico With Porsche EV Charging Deal: Details

The analyst notes that management has intensified its focus on a few core strategies, including customer-centric business models, expanding DC Fast Charging offerings, and cultivating recurring revenue streams.

For 2025, the company expects a sequential increase in revenues generated from its services, alongside a robust revenue performance in the latter half of 2025, adds the analyst.

Joshi anticipates that Blink’s strategic emphasis on increasing its portfolio of owned DC Fast Charging infrastructure to lead to higher revenues from services, as well as an overall increase in total revenues in the upcoming quarters.

Furthermore, the analyst says that the company remains on track to pursue the monetization of its ride-sharing business in 2025.

Nevertheless, Joshi remains cautious as the company navigates the current challenges in the EV charging industry and the uncertain macroeconomic and geopolitical landscape.

Consequently, the analyst revised the 2025 revenue estimates to $95.1 million, down from the previous $131.1 million, and adjusted the EBITDA estimate to a loss of $24.7 million (vs. a $3.2 million loss earlier).

Price Action: BLNK shares are down 1.97% at $0.7618 at the last check on Wednesday.

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