Blink's Product-Revenue Decline Accounts for 76% of Its Q3 Sales Drop

The drop in Blink Charging's product revenue represented 76.5% of the company's $8.658 million year-over-year decline in third-quarter 2026 sales, an At The Charger calculation using Blink's original November 5 financial results. Product revenue fell $6.622 million, while service revenue declined a smaller $747,000. That distinction matters because Blink's service business made up a larger percentage of quarterly revenue even as it generated fewer service dollars than a year earlier.¹²

Blink reported total revenue of $18.397 million, down from $27.055 million in the third quarter of 2025. Its product-sales decline—not an established change in charging sessions or charger availability—accounts for most of that reported difference.¹²

Where the $8.66 million revenue decline came from

Blink-reported revenue category	Q3 2025	Q3 2026	Change	Share of total decline
Products	$13.035M	$6.413M	−$6.622M	76.5%
Services	$10.782M	$10.035M	−$0.747M	8.6%
Other	$2.007M	$1.949M	−$0.058M	0.7%
Car sharing	$1.231M	$0	−$1.231M	14.2%
Total	$27.055M	$18.397M	−$8.658M	100%

Source: Blink's unaudited quarterly revenue categories. Contributions are calculated as each category's dollar decline divided by the $8.658 million total decline; rounding can affect subtotals. This is an accounting decomposition, not a causal allocation of national charging demand.¹²

Product revenue's share of Blink's total fell from 48.2% to 34.9%, a 13.3-percentage-point shift. Services moved the other way as a share, from 39.9% to 54.5%, even though service dollars were 6.9% lower. Blink defines that services category to include charging services and recurring network fees; it is not a direct measurement of electricity delivered by its chargers.¹²

There is also an important difference between one quarter and the full year to date. Blink's newly available original Form 10-Q reports $33.749 million in service revenue for the first nine months of 2026, versus $31.097 million in the same period of 2025—an increase of approximately 8.5%. Product revenue over those nine months, by contrast, fell from $35.924 million to $20.046 million, or approximately 44.2%. Those are calculations from reported line items, not evidence that the same chargers handled more sessions.²

Blink attributes part of its recent revenue pattern to decisions to move away from lower-margin business, including a European contract nonrenewal, and to customer-project delivery timing. Its previously reported June sale of the Envoy car-sharing business also helps explain why that category has disappeared from the latest quarter's revenue. These are the company's stated business explanations; the figures alone cannot isolate changes in broader EV charging demand.¹³

Another 2026 forecast cut, despite positive adjusted EBITDA

Blink now forecasts $78 million–$81 million in full-year 2026 revenue, down from the $83 million–$90 million range it gave in August. The midpoint fell from $86.5 million to $79.5 million—a further $7 million, or 8.1%, reduction. August's outlook had itself replaced an earlier $105 million–$115 million forecast. These are successive management forecasts, not directly comparable measures of organic charger sales before and after business changes.¹³

The company also reported its first positive quarterly adjusted EBITDA, at approximately $0.2 million, versus negative $7.3 million a year earlier. That is a non-GAAP measure. Under GAAP, Blink still recorded a roughly $6.9 million operating loss and a $6.7 million net loss for the quarter.¹²

Blink says it expects some customer-project deliveries to occur in the fourth quarter, subject to timing and execution. Neither that expectation nor the revenue-mix figures establishes future charging-station utilization, a reduction in retail charging prices, or the eventual outcome of the revised 2026 guidance.¹

Sources

Footnotes

1. Blink Charging Announces Third Quarter 2026 Financial Results — Blink Charging Co., original company-issued earnings release, November 5, 2026. https://rss.globenewswire.com/news-release/2026/11/05/3397019/0/en/blink-charging-announces-third-quarter-2026-financial-results.html. Source for quarterly reporting categories, adjusted EBITDA, management explanations and revised guidance; issuer-reported and unaudited, not a charger-utilization dataset. ↩ ↩² ↩³ ↩⁴ ↩⁵ ↩⁶ ↩⁷ ↩⁸

2. Blink Charging Co. Form 10-Q, Quarter Ended September 30, 2026 — original unaudited company SEC filing, published November 5, 2026, accessible through issuer investor relations. https://ir.blinkcharging.com/sec-filings/all-sec-filings/content/0001437749-26-035322/blnk20260930_10q.htm. Establishes quarterly and nine-month product/service/other/car-sharing reported revenue, consolidated losses and exact comparative financial periods; not an independent audit of interim results or real-world charging sessions. ↩ ↩² ↩³ ↩⁴ ↩⁵ ↩⁶

3. Blink Charging Announces Second Quarter 2026 Financial Results, Exhibit 99.1 — Blink Charging Co., August 6, 2026; original issuer earnings exhibit hosted on its investor site. https://ir.blinkcharging.com/sec-filings/all-sec-filings/content/0001493152-26-036344/ex99-1.htm. Establishes August $83M–$90M guidance, previous $105M–$115M outlook, and Envoy divestiture; those outlooks are historical forecasts. ↩ ↩²