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Blink Charging (NASDAQ:BLNK) announced on Tuesday that it raised its 2023 revenue target to a range of $110M to $120M, from a prior range of $100M to $110M. The consensus estimate is near the middle of the range at $116.2M. Notably, the electric vehicle charging company is targeting a positive adjusted EBITDA break-even run rate by December of 2024.
The guidance update arrived as part of an announcement by Blink Charging (BLNK) that it inked an agreement with Parkopedia to integrate over 4K Blink EV charging locations onto the Parkopedia platform in North America. The strategic integration is expected to grant the platform access to nearly 12K Blink public EV chargers, which includes 129 DC Fast Chargers. The aim is for the collaboration between the two companies to substantially improve the EV driver’s ability to locate EV charging points, and directly address concerns about the availability of EV charging infrastructure. “Our collaboration with Parkopedia creates a streamlined experience for EV drivers to conveniently locate Blink EV charging stations across North America,” stated Blink Charging Chief Revenue Officer Jim Nemec. “The combination of Parkopedia’s excellence in serving drivers through convenience in parking accessibility and Blink’s extensive range of public EV chargers gives EV drivers confidence in finding a reliable charging experience wherever they are,” he added.
Parkopedia is described as a connected car services provider used by automakers, organizations, and millions of drivers around the world to seamlessly find the closest available parking to their destination, pay for parking, and obtain information on EV charging, fuel, and tolls across 90 countries.
Shares of Blink Charging (BLNK) tracked 5.09% higher in mid-morning trading on Tuesday to climb back to the $3.00 level after sitting at a 52-week low earlier in the session.
