Blink Charging’s charging service revenue increased 17% during the first half of 2026 as the electric vehicle charging company deliberately reduced lower-margin hardware sales and shifted resources toward recurring charging and network revenue.
Charging service revenue from Blink-owned charging stations reached $23.7 million during the six months ended June 30, up from $20.3 million a year earlier. Blink attributed the increase to higher utilization of its chargers and the deployment of additional chargers on the Blink Network.
The growth contrasts sharply with the hardware side of the business. Product revenue fell 40% to $13.6 million from $22.9 million during the first half. Blink said the decline partly reflects a strategic repositioning toward higher-margin market segments and more disciplined customer selection, including intentionally reducing lower-margin product sales. Continued softness in demand for commercial Level 2 and DC fast chargers also affected results.
The shift was even more pronounced during Q2. Product revenue declined 49% to $7.4 million from $14.5 million, while charging service revenue increased 6% to $11.5 million. Total quarterly revenue declined 24% to $21.7 million.
Blink is simultaneously reducing the cost structure supporting the business. Cost of product sales fell 56% during the first half to $8.7 million from $19.6 million. Total cost of revenue declined 27% to $27.4 million.
Compensation expense declined 32% to $18.5 million during the first half, while general and administrative expenses fell 70% to $5.3 million. The reductions reflect personnel changes, lower professional and accounting fees, reduced marketing spending and other restructuring actions.
The changes are part of the BlinkForward Initiative, launched in May 2025 to accelerate the company’s path toward profitability. Blink has reduced its global workforce from 513 employees to 290 and completed its transition to contract manufacturing for EV charging hardware in January. The company no longer operates manufacturing facilities internally.
Those actions have materially reduced cash consumption. Blink used $3.4 million of cash in operating activities during the first half of 2026 compared with $28.5 million a year earlier. The company had $34 million of cash and equivalents and $10.3 million of working capital at the end of June.
Blink said its recurring revenue from charging and network fees continues to grow, although the company remains unprofitable and said it still needs to generate substantial additional revenue to achieve profitability.
