Blink Charging Co.

Thank you, Matthew.

Welcome to Blink's second quarter 2024 earnings call. With us today, we have Brendan Jones, President and CEO, Michael Rama, Chief Financial Officer, and Michael Battaglia, our Chief Operating Officer. The discussions today will include non-GAAP references. These are reconciled to the most comparable U.S. GAAP measures in the appendix of our earnings deck. You may find the deck along with the rest of our earnings materials and other important content on Blink's Investor Relations website. Today's discussions may also include forward-looking statements about our expectations. Actual results may be different from those stated. The most significant factors that could cause actual results to differ are included on page two of the second quarter 2024 earnings deck. Unless otherwise noted, all comparisons are year-over-year. and now regarding our investor relations calendar. Blink will attend the JPMorgan Automotive Conference on the 8th of August in New York City. Blink will also attend the HC Wainwright Annual Global Investment Conference on the 10th of September in New York City. Our management will be meeting with investors at all of these events. Please also follow our announcements and our website for additional investor events in the future. And now I will turn the call over to Brendan Jones, Blink's president and CEO. Please go ahead, Brendan.

Thanks, Vitaly. Good afternoon, everyone, and thank you for joining us today to discuss Blink's second quarter's results. So let's just jump into it. So our total company revenue was $33.3 million, with service revenue representing about $8 million, or approximately 20% of the total. service revenue increased in Q2 15% when compared to the second quarter of 2023. Gross margin in the second quarter was 32.2%. That's in line with our target guidance of 33%. Now, during the quarter, we contracted, sold, or deployed 4,106 charges globally and dispersed nearly 33 gigawatts of energy across all Blink networks. Our total company revenue for the second quarter of 2024 increased when compared to the second quarter of 2023, despite some of the challenging market conditions that we encountered. On our first quarter earnings call, we mentioned that we had seen lower sales bookings in April. That trend persisted throughout the second quarter, primarily driven by a slight slowdown in EV sales. We believe the pressure on EV sales is a short-term factor, but nonetheless expect to see some impact to our revenue as we move through the balance of this year. We are confident, however, about the long-term outlook for the industry and, of course, for Blink. There are several reasons for our optimism. First, we continue to see a gap between the demand for charging and the available infrastructure to service this demand. If we look at data from S&P Global, 40% of all new vehicle model introductions in 2024 and 2025 will be EVs. And that is on top of the vehicles already on the market again. So 40% is a massive number. And we are uniquely positioned as a company to build the infrastructure and provide the network services to meet the increased charging demand by all these vehicle launches. Additionally, we believe that fleets will continue to be a significant contributor to future demand. Fleet operators are beginning to preference EVs over combustion engine vehicles because they can save 30% on total cost of ownership. This is tremendous savings even for the smallest of fleets. The fact that we now know that rideshare vehicles like Uber and Lyft are switching to EVs and driving up demand for DC and L2 charging is a very good data point and example of what we'll see in the future. Imagine the impact that EVs will have on very sophisticated fleets and the savings that will be delivered to their owners. Looking at the big picture, We are seeing sustainable growth in charging service utilization, and some of our peers have been reporting the same trends. Consequently, as EV sales increase, it follows that demand for charging infrastructure will also grow. With a higher number of electric commercial vehicles on the road, Blink's ability to close the gap in available charging sites represents a tremendous market and revenue opportunity for the company. And we made great progress in the second quarter this year. To name just a few of our accomplishments, in Europe, our Belgian team won the contract with Decathlon, the world's largest sporting goods retailer, to install, own, and operate both L2 and DC fast chargers. This is very exciting for us, as we can see ample opportunities for growth with Decathlon. Additionally, as a result of several key commercial contracts already in place in Europe, Blink has begun to expand our presence into Italy and Germany, which are very lucrative EV markets. In the UK, our team collaborated with UK's largest dedicated parcel delivery company called Evry to provide and install the first EV hub at an important sorting center. Additional sites are planned for the future. Now, if we pivot over to the US, our team achieved in-process status for the government FedRAMP certification. Now, in-process status is a designation for service providers who are actively working towards authorization. And when we receive final certification, and this is estimated to be in the October-November timeframe, Blink will have access as an approved provider to contracting opportunities with the general service administration clients, which opens up the door for thousands of sales. Recently, we became an official vehicle charger and network service provider to the state of New York, and we also launched our BlinkCare preventive maintenance program that will maximize charger uptime for our customers. If we look at Mexico, we were selected by the official BYD dealership group for EV charging products and services. BYD is an OEM that is gaining global momentum. and we view this as a strategic opportunity in Mexico and around the world. As you can see, we are focused on leveraging our strong reputation in the marketplace to position Blink to compete and win in the short midterm while also continue to structurally adjusting the company for sustainable long-term growth. And when we look at the long-term market, between the rapid growth of EVs in China, European mandates and incentives that are already in place, and the accelerated growth in developed European markets, combined with the need for the U.S. auto industry and American companies in general to stay competitive globally, we believe EVs will represent one of the key segments of global transportation now and well into the future. If you look at slide five, McKenzie currently forecast, over 28 million chargers are needed by 2030. And globally, EV infrastructure spending is expected to be about $260 billion by 2030, with about 90-plus percent of those chargers being L2. In fact, as the market matures, we're going to see more of the emphasis being placed on L2 applications. comment more in a little bit at the end of the presentation. But right now, to give you some more details, I would like to pass the call to Mike Battaglia, our Chief Operating Officer. Mike?