Blink HQ

Blink HQ

CarCharging summed up the year early... not, but they did finally release their 2014 Annual Report

The "largest owner, operator, and provider of electric vehicle (EV) charging services" notes significant growth in 2014 compared to 2013:

2014 Highlights*

  • EV Charging hardware sales grew nearly 11x from $47,636 to $565,057
  • EV Charging Service fees grew nearly 4x from $307,663 to $1.49M
  • Grant/rebate revenue recognized grew nearly 10x from $90,796 to $950,358
  • Annual kilowatt-hour charging output grew nearly 4x from 281,107 to 1.46M

*The Company’s audited financial results appear in the Company’s Annual Report on Form 10-K, which was filed with the SEC on Tuesday, December 8, 2015.

Michael D. Farkas, CarCharging’s Chief Visionary Officer stated:

“2014 was a transitional year for CarCharging as we integrated the four EV charging providers that were acquired in 2013. In 2014, CarCharging converted contracts with large retailers, parking management firms, and property owners from ECOtality to CarCharging, resumed sales of Blink HQ, a residential EV charging station, adjusted EV charging fee pricing policies; and introduced various Blink Network enhancements, including kilowatt-hour (kWh) pricing and remote start functionality from the Blink mobile app. CarCharging also began participating in Nissan’s No Charge to Charge program, which provided an additional stream of revenue for the company.”

It's good to see increase of sales and energy dispensed, although 2014 again ends with high losses of some $23 million and we don't know how CarCharging intends to fix this issue - and all signs indicate 2015 was a pretty rough year as the company's market cap fell to just $13 million at 17 cents per share as of press (off from a year high of 49 cents in 2015, and off from almost $1.50 in 2013):

CarCharging Financial Results – For 2014

CarCharging Financial Results – For 2014