Blink Charging Co.

Good day, ladies and gentlemen, and welcome to the Blink Charging Company Third Quarter 2021 Earnings Call. At this time, all participants have been placed on a listen-only mode, and the floor will be open for questions and comments after the presentation. It is now my pleasure to turn the floor over to your host, Ali Blania, Vice President of Investor Relations. Sir, the floor is yours.

Good afternoon, everyone, and welcome to Blink Charging's Third Quarter 2021 Investor Call. On the call today, we have Michael Farkas, Chairman and Chief Executive Officer, Brendan Jones, President, and Michael Rama, Chief Financial Officer. Please note that there is a slide presentation accompanying today's earnings call, whereby viewers can follow along. The slides can be accessed on the investor relations section of the Blink Charging website. I would like to take a moment to read the Safe Harbor Statement. This conference call contains forward-looking statements as defined within Section 27A of the Securities Act of 1933 as amended and Section 21E of the Securities Exchange Act of 1934 as amended. These forward-looking statements and terms such as anticipate, expect, intend, may, will, should, or other comparable terms involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. Those statements include statements regarding the intent, belief, or current expectations of Blink and members of its management, as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, including those described in Blink's periodic reports filed with the SEC. and that actual results may differ materially from those contemplated by such forward-looking statements. Except as required by federal securities law, Blink undertakes no obligation to update or revise forward-looking statements to reflect change conditions. I will now turn the call over to Michael Farkas, CEO of Blink Charging. Go ahead, Michael.

Good afternoon, everyone. Thank you for joining us. Let me start by highlighting some of our achievements in Q3. which was a very strong quarter for Blink. As you can see, revenue grew to $6.4 million, a record for the company fueled by strong performance in both product sales and service revenues. This was a 607% increase. I'm going to repeat that. 607% compared to the same quarter last year and a 47% increase sequentially from Q2. We are making tremendous strides, increasing our network of property partners and signing exclusive multi-year contracts as we continue to gain traction in the ever-growing EV infrastructure market. In the quarter, we contracted, sold, or deployed over 3,000 commercial and residential chargers and have grown the number of commercial Blink-owned charging stations by more than 100% compared to the same quarter last year, which aligns with our strategic focus on expanding our Blink-owned charging footprint. We continue to target deployments in high density, high volume venues like municipal locations, mixed use centers, hotels, multifamily residential and healthcare facilities. This will best position us to maximize the utilization rates of our chargers as more individual drivers and fleets transition to greener transportation. Our international growth strategy remains on track, highlighted by Blue Corner's most recent contract with KU Leuven to expand our charging stations to various locations across Belgium. Throughout the quarter, the company has also been very successful, winning new grant and rebate awards from various government programs, bringing our total award to $25 million this year alone. And lastly, we continue to add the most talented people in the industry to support our expected growth with over 20 new employees added in this quarter. As we see in the next slide, the EV industry is in its early stages of massive growth for the foreseeable future, and we are well positioned at the forefront of this industry expansion. The International Energy Agency projects global EV sales to grow from 3 million vehicles in 2020 to about 25 million vehicles in 2030. a 24% KGAR growth rate in this period alone. With sales of EV transportation segments expected to grow exponentially, there will be an ever-increasing need for additional charging infrastructure. According to the U.S. Department of Energy, the country reached a milestone with its 100,000th EV charging station earlier this year. Industry analysts at GuideHouse Insights forecast that we will need a total of 120 million. I'm going to repeat that, 120 million chargers globally by 2030. This industry hasn't even started. This is providing tremendous opportunity for us to greatly expand our charging footprint. A key driver of this anticipated growth has been and will continue to be the favorable legislative environment surrounding EV adoption on both a national and global scale. As I'm sure many of you are aware, just last week, US congressional lawmakers passed a $1.2 trillion bipartisan infrastructure bill, of which $7.5 billion is just focused and targeted on EV charging, build-out, and infrastructure. This bill aligns with the president's aspirations to have half of the vehicles sold in the United States in 2030 to be zero emission vehicles and to have 500,000 EV charging stations in place that same year. You know, the Biden administration looks at charging stations as one looks at gas stations where you'll have many pumps or chargers at those locations. So those 500,000 charging stations actually translates into two, three million individual chargers. We believe this legislation is a game changer for our industry and will provide opportunities to significantly accelerate the development and deployment of an expansive EV charging network in the US. Looking at slide six, we believe Blink is uniquely positioned to deliver shareholder value driven by four competitive advantages. First, our products are built with the most advanced technology in the industry. We design our products with future innovation in mind, so they employ cutting edge technology and can be utilized for many years to come and not become obsolete like many competing chargers on the market today. Again, we have a different model. We own and operate our charging stations. We build our charging stations to last in the field for a very, very long time. Our competitors are driven by upgrades. and for their customers to have to put new chargers in the ground every couple of years. We build a better box because we own it and want it to be in the field for a very, very long time. Second, we offer our customers multiple deployment methodologies to choose from, providing them with the ideal solution to match their specific needs. In addition to the flexible model options for our customers, we provide best in-class products through long-term exclusive contracts with automatic extensions These agreements allow Blink to establish a market presence at our customers' locations and at charging stations at our discretion when usage increases and demand requires. We largely focus on charging stations that are Blink-owned because that enables us to benefit from and take advantage of valuable recurring revenue streams for many, many years to come. Due to the breadth and depth of our offerings, Blink is the only fully vertically integrated EV charging infrastructure company in the US today. Third, our company is laser focused on expanding our charging footprint, both domestically and internationally. We are intent on finding partner locations in high density areas that will not only meet the needs of current EV drivers, but will position us also to capitalize on the steady transition away from gas powered vehicles to EVs. Europe has more quickly adopted the shift to EVs, and our recent acquisition of Blue Corner is already extending our presence on the continent. We look forward to the continued expansion of our footprint through both organic efforts and M&A opportunities. And finally, as EV adoption accelerates throughout the world, combined with our expanding footprint of strategically placed charging stations, we believe utilization will continue to improve at a faster growth rate, leading to higher recurring service revenues in the future. Altogether, these four key advantages are what sets us apart from our competitors and provides Blink with attractive long-term economics for our stakeholders. In summary, we're excited to have achieved record revenues in Q3, and we're making great progress on many aspects of our business thanks to the tremendous efforts made by all of our dedicated employees, and our employees are what Blink's made of. It's important to remember that we are at the beginning of the EV transition. with much more to go, which is why we're strategically investing across our business to ensure we capitalize on all of the opportunities we're seeing in this amazingly booming market. 2021 has been a busy and exciting year thus far, and we look forward to finishing the year strong and carrying our momentum into 2022. Now I'll turn the call over to Brendan Jones, president of Blink, to discuss some of our recent developments. Go ahead, Brendan.