Sam Boughedda

Investing.com — Blink Charging Co. shares dropped Friday, after Blink Charging Co. reported lower-than-expected earnings per share following the close on Thursday evening.

This company provides Level-2 EV charging networks and stations to homes and businesses. It reported a 45c loss, below the consensus expectation of a 39c per share. It also increased from the 24-cents loss per share in the fourth-quarter 2020.

Blink share prices fell more than 9% Friday due to the missed earnings, which has resulted in a 10% drop in its year-to date value.

The Q4 revenue came in at $7.95million which was more than the $6.9million expected. It was an all-time high for the company. Up 224% compared with the previous-year period, and 24% more sequentially than Q3 2021. Additionally, the Q4 service revenue increased by 471% year over year.

The 2021 revenue increased 236% to $20.9million, compared with the $6.2 million in 2020.

The company sold or contracted 3,733 charging station units in the fourth quarter, an increase of 253%.

Following a solid year, strong momentum led to the firm’s robust revenue growth.

“As we move through 2022, we are excited about the opportunities we’re seeing to bring our industry-leading charging technology to a broader audience, both in the U.S. and internationally,” stated Michael Farkas, Blink’s Chairman and CEO.