Blink Charging Co.

Good afternoon, ladies and gentlemen, and welcome to the Blink Charging fourth quarter 2021 earnings call. At this time, all participants have been placed on a listen-only mode, and we will open the floor for your questions and comments after the presentation. It is now my pleasure to turn the floor over to your host, John Nesbitt, Investor Relations for Blink Charging. Sir, the floor is yours.

Good afternoon, everyone, and welcome to Blink Charging's fourth quarter and year-end 2021 investor call. On the call today, we have Michael Farkas, Chairman and Chief Executive Officer, Brennan 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'd like to take a moment to read the Safe Harbor Statement. This conference call contains four looking statements that are defined within the 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 in 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. These statements include statements regarding 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 changed conditions. I will now turn the call over to Michael Varkas, CEO of Blink Chargent. Go ahead, Mike.

Good afternoon, everyone. Thank you for joining us. We delivered a strong close to 2021 with record fourth quarter revenue of $7.9 million, driven by exceptionally strong product sales and service revenue. This growth represented a 224% increase versus fourth quarter 2020 and a 24% increase compared to the third quarter of 2021. Our fourth quarter was reflective of the momentum we've seen throughout 2021, but we continue to an exclusive multi-year contracts with property owner partners in high density areas. In the quarter, we contracted shoulder deployed over 3,733 commercial and residential chargers, and have grown the number of commercial blink-owned charging stations by more than 253% compared to the same quarter last year. While EVs currently represent a small percentage of new car sales in the U.S., that percentage is growing every year, and the appetite to accelerate EV use is high, as evidenced by the state and federal legislation being implemented to incentivize fleet operators and individual drivers to make the switch to EVs. With this transition in mind, we continue to target high volume venues in the deployment of our chargers so that we'll be in the best position to capitalize on higher utilization rates as more EVs hit the road for personal and industrial use. In addition to municipal locations, multifamily residential and healthcare facilities, we're seeing more opportunities to collaborate with commercial partners and mainstream consumer brands as demonstrated by our recent agreements with General Motors, and Bridgestone, which Brendan will discuss in more detail later in the call. Throughout 2021, the company had success winning new grants and rebate awards from various government programs, receiving $26.5 million in awards for this year. We also continued to add the most talented people in the industry to support our expected growth, with over 43 new employees added in the quarter. Internationally, we continue to leverage Blue Corner to drive our growth in Europe, And during the quarter, we announced the opening of a new office in Noida, India to enhance our ability to develop and innovate new technology and to serve as a key hub for operations, serving the Asia Pacific and Middle Eastern regions. As you can see on slide five, the EV industry is in the early stages of massive growth and will continue for the foreseeable future. As a 12 year veteran, Blink is well positioned at the forefront of this expansion. We have provided this graphic before and again here because to properly understand Blink's opportunity, we think it's important to illustrate the anticipated potential trends for the worldwide growth of EVs and EV infrastructure. The International Energy Agency projects global EV sales to go from 3 million vehicles in 2020 to about 25 million vehicles in 2030, a 24% CAGR growth over that period of time. 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 this past year with its 100,000th EV charging installed in 2021. Industry analysts at GuideHouse Insights forecast that we'll need a total of 120 million chargers globally by 2030. providing a tremendous opportunity for us to greatly expand our charging footprint. As you know, the legislative environment around EV adoption is extremely favorable and represents a strong catalyst for this transition to EV use. The recently passed $1.2 trillion bipartisan infrastructure bill includes $7.5 billion for the buildup of our nation's EV charging network. which makes sense in the context of the administration's stated goal to have half of the vehicles sold in the U.S. in 2030 be zero emission vehicles and also to have 500,000 EV charging stations in place by that same year. The establishment of convenient and reliable charging is a necessity for the successful transition to EV use, and we believe this legislation will provide opportunities to significantly accelerate the development and deployment of an expansive EV charging network in the United States. Looking at slide six, we outline Blink's unique value proposition. First, our products are designed and built with the most advanced technology and with future innovation in mind. In fact, at a consumer electronics show, CES, in January, we unveiled seven next-generation EV charging products, which I'll describe in more detail a bit later. Of note, we are rolling out a portfolio of industry leading products including both hardware and software to address the quickly growing EV fleet market. This market represents a significant and growing opportunity for us as commercial fleets are being offered attractive incentives to make the EV transition and the federal government is aggressively making the change to greener fleet vehicles. Not only are our technology solutions representative of our leadership position at the forefront of the EV charging industry, they further enhance our vertical integration capabilities. A competitive advantage of our product is that, unlike many of the competing chargers on the market, our chargers are built to avoid obsolescence. We believe these new products, which serve as a variety of industries, will drive significant sales and rob you of new opportunities moving forward. In addition to our commitment to delivering the best technology, the longevity of our chargers is a critical factor contributing to the value of our owner-operator model. While we offer our customers several deployment options with the goal of meeting their specific needs, we largely focus on the Blink-owned model, where we identify the best technology solution for each location, then install and maintain the charger while receiving recurring revenue from its utilization. So it is in our interest to ensure that our chargers work effectively and efficiently for many years to come. I'd also like to point out through our various business models we provide best-in-class products with long-term exclusive contracts with automatic extensions. These agreements allow Blink to establish a long-term market presence at our customers' locations and add charges at our discretion as demand increases. Our contracts are not about a parking space. Our contracts are about an entire address, and every parking space in that location is ours to serve exclusively. Due to the breadth and depth of our offerings, Big is the only fully vertically integrated EV infrastructure charging company in the U.S. today. Significant and strategic expansion of our domestic and international charging footprint continues to be a key focus. We are intent on establishing a foothold in locations that will not only meet the needs of current EV drivers, but also in areas that will enable us to capitalize on opportunities as the world continues its transition to EVs. We're very optimistic about our growth in the U.S. and believe Europe, which has more quickly adopted the shift to EVs, will serve as a replicable framework for the rollout of infrastructure in the U.S. We are continuously growing Blink's leadership position in the U.S., and our acquisition of Blue Corner is accelerating our presence in Europe. Additionally, we are seeing tremendous opportunities to continue expanding our brand and network in Latin America, South America, and the Caribbean as these regions begin to design their EV infrastructure plans. We are positioned for the continued expansion of GLEAM's footprint through organic growth, strategic partnerships, and extremely strong focus on M&A opportunities, particularly through the anticipated consolidation of the industry. Furthermore, as EV adoption accelerates and we continue to extend our global footprint of strategically placed charging stations We believe we will generate increasing recurring service revenues moving forward. This is an exciting and transformational time for our company, and we remain focused on providing the technology, flexibility, and service excellence that will enable us to drive growth and long-term shareholder value. We're making tremendous progress throughout the business thanks to the dedicated efforts of our employees and credit them for positioning Blink to deliver a strong finish to an excellent year. We look forward to driving continued momentum as we move through 2022. Now I'll turn the call over to Brendan Jones, president of Blink, to discuss more of our recent developments. Thank you.