BLNK - Earnings call transcript Q2 2021

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Operator

Good day, ladies and gentlemen, and welcome to your Blink Charging Company's Second Quarter 2021 Earnings Call. All lines have been placed on a listen-only mode and the floor will be opened for your questions and comments following the presentation. [Operator Instructions] At this time, it is now my pleasure to turn the floor over to Jennifer Belodeau of IMS Investor Relations. Ma'am, the floor is yours.

Jennifer Belodeau

Thank you. welcome Charging's and investor quarter everyone, call. afternoon, to second Blink XXXX Good

amended. Blink conditions. to Michael. today, belief, Farkas, Securities forward-looking management of intent, Securities results described Officer. obligation actual Charging. investors as of Go will, have events Exchange would update as such now Brendan forward-looking the This of or of as future those uncertainties statements to forward-looking Act required we based. On include Michael that Blink from forward-looking call may the comparable are Section harbor These such safe statements. XXE I will that Michael Farkas, regarding as and no anticipate, defined over may, are forward-looking those relate current periodic and to risks well Blink's revise statements filed to a assumptions SEC, and Prospective to Except terms XXXX Blink turn intend, law, and by terms statement. reports amended cautioned materially within of its involve Rama, read differ XXA guarantees the uncertainties, any that statements circumstances contemplated ahead, changed like call reflect should undertakes CEO and as by Jones, statements or the federal call statements the on Michael occur as performance XXXX of the such not Founder to the as Chief Act statements in including on such which expectations because and they are with would members and and and the the Financial contains of of in I These conference other take minute statements President; depend involve CEO; expect, risks and Section or future. securities

Michael Farkas

exciting some We for to EV and quarter a we the joining with innovator in a operator internationally. industry us. best considerable continue for the progress owner everyone. This very our position added industry. as made of was in and team to leader expanded Thank ourselves as Good you our afternoon, the Blink we strategy,

XXX% to grew as expand footprint. quarter our revenue second of quarter XXXX to we compared the aggressively Second continue geographic

quarter, in the is and fleets, the X,XXX During and infrastructure sold, chargers number deployed utilization in be key and owned the period XX% we made for transportation, the our to more tremendous of charging the prepare greener than XXXX. transitioned the to Blink commercial individual we or progress necessary same contracted commercial with or Location chargers stations charging increases. grew residential as drivers more as compared will deployed, contracted, that

like facilities continue high high the venues are networks. to for our are around global is use the here exponential position the aggressively progression with poised opportunities securing growth make healthcare We locations long-term world in but not volume quarter multi-family scaling to mixed business, believe we density, the We to in and residential, progress EVUs. States, of solid best on during hotels, industry the we ensure and that capitalize United associated to just in our the

the the key prepare EV we've technology the presence. and available mind, enlisted to in best a transitions to in charging we'll evaluate future component by a can our world With world. pursue the our Blink as infrastructure industry our to chargers what help national talent the charging and infrastructure, in-demand market way EVUs, continue much providing As the driving be a will to stations around

founder Technology an Officer, of and charging an the Mr. was with During our he EV industry the Harjinder space quarter, as we and is veteran of extensive announced the Bhade of leader a Chief exceptional addition knowledge charge Bhade points. new

confident we're instrumental Harjinder's Charging. globally, software As of that the Blink will engineer to executive track continue be of as to record and growth proven expand a senior success we'd

– we're welcome Holdings Haan our also to are B.V. We of also subsidiary, Miko new thrilled welcome European De Blink managing as director the

detail we enhance opportunity, I'll represents in believe Europe for us presence makes it sense operating growth tremendous our a As minute, to there. so

provide recently we board and sales leadership technology the evolve. Blink executive with addition guidance Carmen continues that is leader, are Finally, of and and advice our she finance, Perez-Carlton. confident senior experience, we many years as including suited and And and She brings ideally marketing. grow strengthened to roles infrastructure of to and operations,

territory the charging forging of operator, we chair our strategy be As notable newly our of Blue perhaps and advanced company. of Governance important for she'll acquisition EV committee, quarter, international development Corner. with new most formed our European And and the Environmental Social the

Operator

with We've for lost One Farkas moment one you Farkas. gentlemen, have we while reconnect. moment. Mr. ladies patience, and we connection reconnected just your Thank Mr. in should

Michael Farkas

Hello.

Sorry disconnected. got about that,

and B.V. and As chargers accessible located of Fast ability Blink France. and profile deployed X,XXX With bid residential XX August and X to we X, independent publicly XXXX, sold Blue X,XXX to just I as Netherlands Luxembourg, of in for this Charging chargers win contracts new Level Europe our Corner X,XXX Holdings the across chargers raise and mentioned, Belgium, DC comprised region. in the acquisition, established enhance or private our

few Rama charging an and minutes, install Leuven Corner contract which contributions from review to Michael across the exclusive in signed stations existing during KU with quarter Belgium. Blue to addition a up In will business, XXX

looking share follows utilization prices, it forward some we're To – Europe value EVs providing stronger which on that Historically, fuel US in seeing more building faster are attractive the by additional give translate drivers. stations. for higher rate a experienced the should makes opportunity, EVs the being and Europe of and to adopted at charging has a growing to transition proposition that. European momentum into continued higher around market than context So, they're

international standpoint, transition our for long-term accelerate agreements and exclusive We into vehicle which to EV utilization our demand business. Blink global sell we a employ a an to model will From owner to for we to for We focused fuel. have We continue a stream charged signed on extensions important come this model. EVs operator Israel time of We structure generate automatic Chile that own remain receive more and This is also revenue the that the units. expansion. across in recently direction With expect stations at further enter have increases. our valuable rate continent. potential intently the grow with is payment one an revenue many years our charging sharing to in reoccurring each the as we contracts contribute

take Blink other owned units, from installation is and who of also partners attractive owner because have care often property their maintenance the Our property benefit this of on a plates. just for very many responsibilities which companies, in literally so management we model option

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a zero as of the in transition. in to As a charging all technology, XXXX half make shift we a EVUs. in need new our It's announced best-in-class solidify not provider of And early always the are sold infrastructure of to people order continue that so, Biden fact a vehicles we needed positioning stage our operations on President important the will to and half. of our emission sight setting executive to very new support this target transformational Blink lose to to vehicles, invest

Now, the some recent over turn Brendan of of our developments. more to I'll to Blink, discuss Jones, President call

Brendan Jones

Good with pleasure speak a everyone to afternoon. today. is It

growing We during new mentioned, quarter, continue is charging begins charging. partnerships trends -- grow interest its support and a use EV game. at a are demonstrated in long marketplace of of provider rapidly the leadership We measurable see and Michael the As development stewardship. reference the tremendous still by accessible And how and teams around environmental committed leadership XXXX We're state-of-the-art infrastructure, and EV Blink as days early To on in we a potential to give with support EVs footprint momentum. had and as we leadership reliable June tremendous from positive a EV infrastructure XX, with the our employees. our point grow hand around hand customers growth you we're operational adoption seeing on goes focused relatively force, established attracted as XX charging role of further to in to leadership industry Blink, top-notch pickup the building class-lead sales to we're

We have XXX more of XXXX. that doubled now tripled as than almost XXth, June to

to As to strengthen expect look to head our you continue grow. see bandwidth, our we can

a regulations of regulatory Sales market adoption developments emissions than of of This solid electric the Michael support faster with more The to evvolumes.com. U.S. than is from EV increase has biggest acquisition infrastructure in to X% as the will European plug-in Blue Blink foothold be referenced XX% context X.X Corner XXX,XXX quarter of One acquisition accelerating to past and Europe provides for the ports. further X,XXX according European to around continues and is Blink give portfolio this, a rose be Blink some market, to growth clarity vehicles serves year, an Europe, adoption vehicles in to that the for United EVs huge widespread States. demand the Rosa the zero To access effectively the transition progress. market whereas a EV for more vehicles. the to last to the under-penetrated potential area EV charging growing as you are has charging

our the charging throughput we continue Additionally to upgrade and locations to expand we European into expansion country. as charters, market over our our deploy our the domestically all EV

notable of deployment fast chargers plus locations grant $XX.X include Blink XX of Florida. state awarded across at million XX Some developments the for DC was the

stations Family of level XX charge. System's charging can fast Inn Center American two We to X and Portland, deployment charging locations & deployment XX in Native ten Integrated Four stations get Additionally, the our Blink across stations. in Texas XXX of New get Atlanticare Southern York, Oregon. also slice And points in New Level XX stations locations Healthcare upgraded three you the Plano, the us at deploy charging Brothers EV IQ Jersey, IQ first-generation Youth a charging recharging Pizza XXX IQ at XXX we at

to distribute to publicly to Firefly to mobile access offer services avail Blink accelerated our transportation as GM's signed had EV with along sponsoring an States charger agreement also vehicle partnerships agreements, across IQ General We continued with EV reseller charging more GM some Blink pursue agreement part with designations a XXX United of team. seamless strategy. the customers Ultium growth ESV. Bearcat We its electric of and into Motors that EV entered the We University We racing in XXX. Charge Portable Cincinnati fun sites

agreement team exclusive a contract and long-term the XX country. parking a they luxury Blue and idea Now throughout to with base. acquisition is elect Israel's Parking this reference. stations all Leuven it’s in wake lot of charging to item, stations across We our which customer and XXX Blue give for the of will university's Blink a was as Fattal tourist leading formula Fattal Inc. company. and traffic Group Belgium; companies of great Wisconsin, in major Blink and for EV another partnered the and the KU hotels chargers in safety Corner an Hotel charging In Corner their hotel one they first signed Control deploy now solution mentioned, with for provider a across Companies Israel is locations locations up a install Michael race traffic at with fun

a lot team, company marketplace. development to team As our sales we're on operations of seeing These the strengthen our product opportunities improvements capitalize and in made elements expanding and Michael improving the mentioned, our structural team. and we service and the have interests include

said, is ahead encounter growth of others global beginning well many our are With shortage semi-conductors. support of related to like the to that chain positioned very us. challenges to anticipated industry We supply now the

posted over turn I'll on to of our we While through run our the second see you year. it through for Rama effects quarter we'll the as balance the we growths weren't specific Michael? keep the any CFO, to results now of Michael some move quarter. impacted,

Michael Rama

increase six network. the period. XXXX months of Charging to well has million and second year increased first of attributed XXXX on to and The as everyone. afternoon a with quarter the to increases host to six with fiscal XXXX the growth XXXX. driving owned as revenues good quarter for and Brendan, entire the by increased compared June strong six prior months residential buildings product for you, of grew a property as is the XXXX number These XX, units XXX%. Thank of was was and during the XXX% to period as units months noteworthy sales, increased XXX% first quarter to the XXXX, six growth increases of revenue and XXXX. attributed our and six invoicing XXXX, for in This to XX% the of has ended The million XXXX XXX% revenues robust as of of increases – ended partners related the second already increase first of June revenues Revenues XXXX. the network the Blink in commercial compared to six in Network second as months group in year for XXXX for to of XX, driven our as This service and compared be compared to the is chargers. were total economy, quarter in revenues the owned reopening revenues XXX% months for increased quarter XXXX. XXXX. to surpassed the demand full six Product XXXX continues charging compared in June in fees ended the well months as the first in product months as to XXXX of year second total of $X.X compared XX% the $X.X operated XX, increase to service increased well increased same the second fees. revenues XX%

share $X.XX XXXX of or of in compared per a $XX.X loss net second per net or was quarter share quarter of $X $X.XX the loss Second to million million XXXX.

net was ended an prior For months June the primarily – and $XX.X to Net XXXX was expense in compensation expenses. second for loss loss from million loss year net six increase XXXX quarter of in period. attributable XX, million primary the G&A to increased $X the

well in increase invest in U-Go from to as acquisition and Specifically in as primarily first million XX, half and conjunction the for increase on six BlueLA, which of compensation June expense $X.X second during the ended driven Blue by in XXXX, additional XXXX quarter, of was note to made of quarter the as Operating increased from with operating personnel increased months expenses XX, Michael $XX the which $XX.X million. million U-Go was $X.X at acquisitions for as occurred XXXX. A June subsequent XXXX this expenses May future, an in mentioned. quick million, the we XXXX, and expenses Corner our

escalates. charging and and in demand investing that proliferates effectively efficiently to ensuring to future the operational have committed ramp are alternatives and business quickly for and EVs as We our by people we our infrastructure

or are international EV other were chargers. deployments. chargers, sales EV years. XX, which publicly net DC acquire and charters, its XX,XXX of Level excluding and swap remainder since or X through that since non-network have This on acquisitions, Level chargers, private network. charging publicly X,XXX the These during X,XXX June residential commercial networks the outs Blink done of the inception charges or we assessable accessible charging the Corner, EV sold, chargers LX consists Blue DC private XXXX X,XXX of And XX Blink on deploy – X XXX As fast Level X,XXX chargers, – or X were commercial we replacements units fast inception of

our At public and few XX Corner comments accessible deployed are compared residential sold December all since network, commercial liquidity. $XXX.X charge and charging of million and XXXX. Corner's or independent independent a fast XX, private of securities which X,XXX which June LX, and August XX, independent cash commercial Blue charge now accessible our marketable DC independent And the recently the public about million $XX.X as points, points, Blue X, at XXXX addition, points, X,XXX In DC was acquired inception X private points. comprises X,XXX on of XXXX, Level light to charge charge private cash

you'll rates completed equity a the During you successful of quarter recall first $XXX XXXX we million. of

I'll that, And Now up remarks. to back additional open Farkas Michael? for to after Michael it turn it we'll Q&A.

Michael Farkas

So year. XXXX been busy a has

energized This open now in prepared time exciting progress. is expansion seeing our call We company the continued to are charging and driving EV opportunities and With growth on for to infrastructure. a look our to we're for forward questions. as role capitalize key our the that worldwide contributor to establishment up we'll and we grow industry, an of the

Operator

is floor take from We'll ahead. Instructions] our with Daoud first The you. for Thank go [Operator questions. Gabe Please open now question Cowen.

Gabe Daoud

Thanks the in some on, thoughts start Corner? strategy afternoon Hi, just good the you Blue on of for now we everyone. could I which the was us plan just executing maybe remarks. And how could more I targeting plan hoping guess with how Michael, on specifically. on the with countries you a all European give just plan guess, prepared European back and essentially Corner going I about you're the then you Blue strategy fold, the

Michael Farkas

between XX so stone we're the maybe approach as and just business that to the an of European most being Blink them markets. for just most space amazing of Blue to expand amazing really the it's in well. the in, hardware businesses you on know, just similar to extremely deploying, as territories other us. only about foundation a now. – as to attractive Very multiple look Having use that's we're Blue methodologies stepping of really areas expand was the currently And will our may get made allow they're an Corner active we fit Blink them There's the perspective how into acquire of market. consolidation for to is our even with us It's able a a business an that but your simply at companies our – more XX, European in model company into as fit us models, what other Corner together. European operating unbelievable a having from to the very and to businesses looking work the model not businesses an hardware We be and and of networking

Gabe Daoud

obviously help follow-up, then port know concerns a a strong inventory already supply obviously And what like we about Thanks. That's and now how give for like us next looks from moving think I with coming revenue just Blink? the that year into should rest maybe the but and guess a as what there of the pretty I think maybe which is backlog Got like? this sense Blue year? contribution Or could or Michael. looks year, next is U.S. chain Europe, a helpful, it. I for potential you guess have to some Corner market revenue we about, us again near-term potential of accelerating, number frame just port throughout

Michael Farkas

a deploy side. charging lot the on disclose to now, It's numbers are to in – the then to given but starting not road. issue the been hit going money demand infrastructure. could that of also by and you EVs see, U.S. line of There's the really all infrastructure a is, for as here, tremendous not bottom for spent Government Exact we're being amount is preparation there an now demand

a We which size as you on may – issues. on to on. of ourselves happen trying the positioned increasing best have some monitoring can. question as because be and that on to charging but going is are some start side in we plan at still do now so the variation industry could with supply the our believe ball, side. The can't there order Delta the restraints very properly, the not we exactly of don't But we charts. what's that's these demand we're without infrastructure again, and but growing. we've we correct, we're looking COVID, for pressure crystal going a we're trip to happening, things as see We're supply are of carefully, is off are the And some problems have You

Gabe Daoud

other auto it, the networks, could maybe there you you if you side. deploying sneak lot quarter OEM mentioned am the that the I and announcement Got have actual just healthcare to across the up site And relationships got any or dwellings on of it. there one relationships then you could just GM the that and if will point acquire of ways partner curious of multiunit obviously in where talk show during app, the their on at is you're vehicle. more, a Blink's customers sale on curious attract side, network but is any

Michael Farkas

you you of Okay, see Audi GM important dealerships, all them that understand CarMax. at to stations in you them XXX Blink well, today it's those hardware. could can And could Charging dealerships, see are model see IQ and at over and

better validation get than can't You that.

were Our at hardware capacity the where same. And the we're We've on hardware look where is really our of next with you maxed – doing of market has been their if be. introduction developed things to AC planning generation and output, DC really ago. it's going and the out our is years for competitor's

work offerings numbers. our hardware, different OEMs, is validation our yes, look with it's mobile go the have but that be be these see that we're locations and all deploying we're application right to to now some the the right important hardware, So, able and of able go ahead to at again right the constantly to showing to

stations of about north lead deployed. talking You're X,XXX charging will

in not across over And group talking really that only the want money is from X the two now the something company again from spend dollars to – year increasing. like when to and They're It's not You're exceed match really the but to dealerships, hardware spend that currently stations, multi-families, amount going Cadillac's deals again, with need our we broad-based. coming is start People car and that literally many understanding the And a not a that only thousand hardware sustainability it's it's And out obsolescence. to to are a going out okay, are say, competitor's over to are charging and the car only of coming or a that our not month. Hummers facilities, on not mixed look that do capacity what board. healthcare today. numbers average our use, Audis chiefs. it's it's only have by it's has are far those any

So That's you're put if you're buying line buying deal. our are obsolescence. today. again, on, the this their and GMs not industries the and so Audis they're those seeing bottom the hardware, the And being into and it's

Gabe Daoud

Got it. Thanks guys.

Operator

question We'll Vikram Needham take Bagri our and next ahead. Please with Company. from go

Vikram Bagri

hardware Good evening, will the about get improving Hi, and require to of uptime Europe Couple updating the solutions questions going spending a than acquired stronger can are recently for you look in make it U.S. growth how talk talk to and and you EU same me, assets strategy. the the assets for guys. quick would kind the topic, uptime Also be asset your you in we in on base? in it's what if your everyone. foresee have acquisitions category lower given foothold? first to been of acquired on that while about you are EU Can they if

Michael Farkas

possible to you one? grab it Brendan, this for is

Brendan Jones

the I'll I Yes. mean, speak uptime. to

you're you but that platforms so to going the upgrade work standards system you can a talking as the behind mitigate about network efforts have the work, itself, there, to we're if and imagine, So continually also to companies might as simultaneously, you Corner expense. commonize purchase scenes we'll a lot we'll of Blue

our begin We'll that across both country both board, So uptime standards to with platforms specific States of have looking in. region the a And business each and needs we're to over that. European products simultaneously to for United commonize time across at – fit demographic partners. the product publish internally custom and that global the side, we'll on or

imagine, into As South and you America, France, Belgium, Republic, into Israel, Greece, right EU. other deploying in chargers selling and several the we're Dominican into countries might now, into

to better they're Blink BXC. synergy benefit and time, value or those to So work platforms over bring that whether our we'll customers, across get BXB

Vikram Bagri

can you just highlighted better increased of give lot second Thank you. run if has revenue, assume trajectory in the to more expect expenses rest And can and going us forward of understandable. expense what in we is it's a like hauls a you squeeze we the handle the in compensation run going should the If rate indication you year? then a I a are larger rate what rest that give – one increase compensation quarter be year? of so front But work seen the is on kind us increase obviously you've and could increases we an and expenses should the of of how

Brendan Jones

compared Yes, on obviously I'll compensation, mix a over previous in jump we in quarters. we're XX U-Go year. in increased to an Corner, to staff, had and that. uptick And from the we've – Blue obviously We've added XXX BlueLA our our employees

bringing grow the for good rest runway in in We're bodies the the bring year. of in now. to We're to on future. investing people talent talented now So company. quality, a in bringing the have more a we're thing. It's I

would obviously those some acquisitions And we So stay to then going to see in if static, they other expansion, that added that. do other to or – well as say, we'll it's areas. uptick will

So…

Michael Farkas

look yes, So, would vision and the when talent, only both perspective. success of to from the I add ingenuity that of at that and key a leadership components we one company, the it's

begin we'll a to So to that or of need the strategic people levels. to you in year, come people company over well that have the bandwidth, has to move may we – And performing company add talented that need to we've it's is high one lower growing as the phenomenon Blink. here the company last quarter to and but positions attract we'll last last to the as over we more on over headcount as those that you level at know, at place over and continue people. basis has that They six months if opposed base hiring a the more take lot daily year, filled as two time the of holes on be Blink in recruiting and seen them, focus term really a over key you filled, you but

Vikram Bagri

you Thank much. very Understood.

Operator

go our [Operator take Wainwright. Instructions] Please H.C. question Joshi We'll ahead. with from next Sameer

Sameer Joshi

afternoon, Yes. Good everyone. Thanks.

Just transaction starting wanted a quarter pro clarification for closed? on forma included the revenues or the from when have XXth from the Blue they Corner, only entire May been

Michael Farkas

Yes. May closed. transaction the included what They were from XXth

when XXXX it's partial included forma, You'll would the XX-Q looked – we file like looks the forward. with pro well our have acquisition Corner see date from as actual it as a for Blue for XXXX – like but our on what what results, XX in

Sameer Joshi

revenues charging likely to revenues likely remains are in the everything third quarter. slightly charging same be, if the higher So be to are else

Michael Rama

correct. as continuing – more charter. EV we're are usage That's as economies driving, more obviously seeing obviously our we're And Yes. the obviously seeing open, of to

is, could expectation in limit but that if because bit come out season, that especially there's people's York well, may that the impact also of So summer Delta constraints variance some but little right. that some in New driving, as a

to the So into you included that's factor seasonality in there. have that

linear. sometimes can't be, it's not it strictly So

as You have environmental seasonality as factor to well in factors.

Sameer Joshi

in this there upgraded that. And many And these station, then XX how the you XXX, few first-generation Certainly. IQ are going the is I plan charging Understood. quarter, during schedule upgrade next or to Thanks to a targeting do for of think so forward. quarters? you

Brendan Jones

take me Michael, you to want that?

Michael Rama

Yes. yes. Absolutely take that.

Brendan Jones

Yes.

two numbers, challenges there's schedule exact but constantly they're So there. we daily, floating a have

discounted possible or are operator that many effort making the to on units that chargers partners on under And well. then hosts the sold. one model; offers is that is second the owner all going owner operated as upgrade provide have to is as our challenge first site sure we Our through chargers

them Blink now we're – a in site So very right position, forward house, installing and giving them. moving forward aggressive with on moving

construction out. swap United this across the We to have do companies States several working

next So the we anticipate we'll get with new old swapped over our the out majority place. months, six of charters charges put and in generation generation

Sameer Joshi

federal comments take to level, will the think point for that. Understood. has package be trillion that one at this? that of billion a a Thanks at charging or X appreciated. Blink person for then position discussed or DC high-level have And Thanks. level contact been team billion, Does XX the has you not a just to infrastructure. will Any advantage in macro I more if XX

Michael Rama

see Sameer, grants, rebates in successful being these we've as programs. receiving been very involved – can in been you and we've

program fast corridors. throughout we DC to the received the about million evidenced of in the travel by State As deploy just charges $XX.X Florida,

We and have have the lot been that our bolstering And the that's our others money you of that lot rebate and administration money as a is and for a resources we us. here, a continuously clean of available going experience out well we have money and going in department, some and globally, to we're as so. doing as of focusing see do lot Biden getting money net of what can is spent grant there's

we and resources division they that we municipalities focusing We're more operating their even are relationships actually So it's us and us. five, to lot growing that of of have and the them, and we we're a group own fact competitors to operate. operate, that in these old. it, the important on seven, so. some we XX contracts, or what six, Inwards legacy And locations years own and separates on these already our yes, throughout and country plan with – have spend from charging throughout stations that our we relationships, municipalities and

So then funds municipalities I and quasi of with these ahead some agencies niche hardware able new go working to these organizations, with in work are we're dispensing be deploy government these to work to locations. and there's the guess able that

to are feel all confident whether and the EV pools of just U.S. of subsidies. we we build beneficiary making in a or and tremendous it's be capital charging infrastructure it's going of very So and whether different these that

and the a we really there on on plan efforts lot capital. out their do so. And focusing have getting of going in We experience

Brendan Jones

to only DC covers lobbying. to The lab Mike's the is I’ll dedicated we and that comments team, not well we and add thing California, and affairs top government EV government cover states all DC, that in our only a have as affairs

our strong have out. presence, we So very presence

Sameer Joshi

and going on progress. essential forward. the be Thanks, that's to congrats No, going

Operator

Parks our Please Tuohy take We'll Brothers. question next go Noel from with ahead.

Unidentified Analyst

It's from at months shift if and the adoption forward had updated our couple been of automakers. has goals view in This to bill. this towards your a EV the Judson How, got on our of We've infrastructure on EV. filling all afternoon. U.S. sales? Good is impacted Noel. March busy We've the

Michael Rama

globally – amazing the charging every Audi, mean, happier see, we're so basically of We the available couldn't I future at from EV, now trying the station, they're that manufacturer what in Volkswagen of Porsche, to be and before. in more if on that more about towards there's to showing now are on. their from It's going what's what – Ciet and especially there's what's major has on and being Skoda, what all products the cars again the And going EV GM, release, look OEMs transportation. going you disclosed than released. is ever subs, of product

about excited So auto seeing. very anything? going on Brendan, to add what's want in motor we're

Brendan Jones

more for certainly Just Michael. you,

Michael Rama

Okay.

Brendan Jones

Mike. sorry, I'm ahead, go

Michael Rama

No, Brendan. that was

Brendan Jones

lot from we what waiting I goosebumps saying. it years? of we're with We're all to is before moment still said ever where now think seriously more company to but simultaneously this work to it time. we've more ready than talent happening the Mike very be top best-in-class. spent taking with back this that been and And for actually new now ready aside mean, these we really only I efforts the do after we and structurally have to make is adjusting thing, it personnel, sure are a I goes excited, in we're

Unidentified Analyst

a that maybe question second My into bit. little ties

this expansion marketing priority the Can the for priority staff your to address point? is. of a new talk of, the about about and of You at lot highest you've sales you sort effort store and talked that sales goal the

Brendan Jones

that want to handle or it? you want to Michael, you me do do

Michael Farkas

best it's Yes, there's lot please. and an I'm probably on [indiscernible], a what of do. you so airplane

Brendan Jones

Okay.

sales across we know to number then long-term United We have team charger, for we to chargers. income stream. the goal So, that for sell locate sites before high one sites installation, placed of the pay and are it, the utilization find, and a we we where do type the is Those States.

host number them other do. secondary products They two we operate make that that both. when those lets model. they industry, only us flexibility offers long-term. States. goal. hybrid sure are But meet owner one we host their excellent a one going EV owner guarantee of an flexible that number to services this and really through Number infrastructure There flexible pick model utilization for makes charters. site that operated site a that do over the the of because United the their that options. company the the we Then the hosts us in Then we and that's that install to every So mean, site We level apart easier. host, And And to one, from goals model, number is is much operated priority we one, of a lot I to it site the model. have. sets generate sell were flexibility three goal to revenue of is that have income

Unidentified Analyst

Very helpful. Thank you.

Operator

our concludes session. Sir, to it remarks. closing question-and-answer floor for back We'll Mr. That is turn Farkas the yours.

Michael Farkas

of the immediate lot us, for Thank – and It's in a very the growth in we're appreciate especially excited our opportunities everybody. participation. tremendous you globally, times both see our long-term. joining industry, and we Thanks. everyone about your of exciting future in and extremely And near us. ahead years We

Operator

for teleconference. does We you participation. again thank conclude This today's your

lines this have time your may at disconnect and great You a day.

Blink Charging (BLNK) 12 Aug 212021 Q2 Earnings call transcript