Blink Charging Co. 10-Q

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2026 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _____________ Commission File No. 001-38392 BLINK CHARGING CO. (Exact name of registrant as specified in its charter) Nevada 03-0608147 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 1489 West Warm Springs Rd. Suite 110 Henderson , Nevada 89014 (Address of principal executive offices) (Zip Code) Registrant’s telephone number, including area code: (305) 521-0200 17301 Melford Blvd , Bowie , Maryland , 20715 (Former name, former address and former fiscal year, if changed since last report) Securities registered pursuant to Section 12(b) of the Act: Title of Each Class Trading Symbol(s) Name of Each Exchange on Which Registered Common Stock BLNK The NASDAQ Stock Market LLC Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filer ☐ Accelerated filer ☒ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☒ As of August 4, 2026, the registrant had 144,938,716 shares of common stock outstanding. BLINK CHARGING CO. FORM 10-Q FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2026 TABLE OF CONTENTS Page PART I - FINANCIAL INFORMATION 1 Item 1. Financial Statements. 1 Unaudited Condensed Consolidated Balance Sheets as of June 30, 2026 and December 31, 2025 1 Unaudited Condensed Consolidated Statements of Operations for the Three and Six Months Ended June 30, 2026 and 2025 2 Unaudited Condensed Consolidated Statements of Comprehensive Loss for the Three and Six Months Ended June 30, 2026 and 2025 3 Unaudited Condensed Consolidated Statements of Changes in Stockholders’ Equity for the Three and Six Months Ended June 30, 2026 4 Unaudited Condensed Consolidated Statements of Changes in Stockholders’ Equity for the Three and Six Months Ended June 30, 2025 5 Unaudited Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2026 and 2025 6 Notes to Unaudited Condensed Consolidated Financial Statements 8 Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations. 19 Item 3. Quantitative and Qualitative Disclosures About Market Risk. 28 Item 4. Controls and Procedures. 28 PART II - OTHER INFORMATION 29 Item 1. Legal Proceedings. 29 Item 1A. Risk Factors. 29 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 29 Item 3. Defaults Upon Senior Securities. 29 Item 4. Mine Safety Disclosures. 29 Item 5. Other Information. 29 Item 6. Exhibits. 30 SIGNATURES 31 PART I – FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS. BLINK CHARGING CO. Unaudited Condensed Consolidated Balance Sheets (in thousands, except for share and per share amounts) June 30, December 31, 2026 2025 Assets Current Assets: Cash and cash equivalents $ 34,004 $ 39,568 Accounts receivable, net 18,923 29,532 Inventory, net 11,287 14,153 Prepaid expenses and other current assets 6,856 6,065 Total Current Assets 71,070 89,318 Restricted cash 619 89 Property and equipment, net 40,649 42,691 Operating lease right-of-use assets 2,781 6,331 Intangible assets, net 4,765 6,634 Goodwill 1,742 1,742 Other assets 711 648 Total Assets $ 122,337 $ 147,453 Liabilities and Stockholders’ Equity Current Liabilities: Accounts payable, accrued expenses and other current liabilities $ 45,960 $ 47,242 Current portion of earn-out liabilities 713 1,005 Notes payable 265 265 Current portion of operating lease liabilities 1,305 2,781 Current portion of financing lease liabilities - 42 Current portion of deferred revenue 12,563 12,137 Total Current Liabilities 60,806 63,472 Earn-out liabilities, non-current portion - 981 Operating lease liabilities, non-current portion 2,899 4,804 Financing lease liabilities, non-current portion - 64 Deferred revenue, non-current portion 2,556 5,145 Other liabilities 8,283 8,497 Total Liabilities 74,544 82,963 Commitments and contingencies (Note 7) - - Stockholders’ Equity: Preferred stock, $ 0.001 par value, 40,000,000 shares authorized, 0 shares issued and outstanding as of June 30, 2026 and December 31, 2025 - - Common stock, $ 0.001 par value, 500,000,000 shares authorized, 143,779,491 and 142,128,133 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively 144 142 Additional paid-in capital 897,525 895,505 Accumulated other comprehensive loss ( 9,848 ) ( 8,731 ) Accumulated deficit ( 840,028 ) ( 822,426 ) Total Stockholders’ Equity 47,793 64,490 Total Liabilities and Stockholders’ Equity $ 122,337 $ 147,453 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 1 BLINK CHARGING CO. Unaudited Condensed Consolidated Statements of Operations (in thousands, except for share and per share amounts) 2026 2025 2026 2025 For The Three Months Ended For The Six Months Ended June 30, June 30, 2026 2025 2026 2025 Revenues: Product revenue $ 7,439 $ 14,509 $ 13,633 $ 22,889 Service revenue 11,484 10,809 23,714 20,315 Other revenue 1,928 2,276 3,164 3,933 Car-sharing revenue 823 1,111 1,942 2,286 Total Revenues 21,674 28,705 42,453 49,423 Cost of Revenues: Cost of product revenue 4,948 14,074 8,671 19,622 Cost of service revenue 5,823 6,222 13,202 11,503 Cost of other revenue 766 1,302 1,575 2,142 Cost of car-sharing revenue 598 1,067 1,632 1,752 Depreciation and amortization 1,098 1,208 2,293 2,503 Total Cost of Revenues 13,233 23,873 27,373 37,522 Gross Profit 8,441 4,832 15,080 11,901 Operating Expenses: Compensation 8,352 13,767 18,515 27,321 General and administrative expenses 1,750 10,686 5,302 17,899 Other operating expenses 4,122 6,725 7,755 12,074 Depreciation and amortization 1,715 1,432 2,782 3,087 Change in fair value of consideration payable and earn-out liabilities ( 1,273 ) 1,784 ( 1,273 ) 2,463 Total Operating Expenses 14,666 34,394 33,081 62,844 Loss From Operations ( 6,225 ) ( 29,562 ) ( 18,001 ) ( 50,943 ) Other Income (Expense): Other income, net 250 345 492 746 Total Other Income, Net 250 345 492 746 Loss Before Income Taxes $ ( 5,975 ) $ ( 29,217 ) $ ( 17,509 ) $ ( 50,197 ) Provision for income taxes ( 64 ) ( 95 ) ( 93 ) ( 123 ) Net Loss $ ( 6,039 ) $ ( 29,312 ) $ ( 17,602 ) $ ( 50,320 ) Net Loss Per Share: Basic $ ( 0.04 ) $ ( 0.28 ) $ ( 0.12 ) $ ( 0.49 ) Diluted $ ( 0.04 ) $ ( 0.28 ) $ ( 0.12 ) $ ( 0.49 ) Weighted Average Number of Common Shares Outstanding: Basic 144,260,561 102,899,705 143,713,633 102,684,303 Diluted 144,260,561 102,899,705 143,713,633 102,684,303 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 2 BLINK CHARGING CO. Unaudited Condensed Consolidated Statements of Comprehensive Loss (in thousands) 2026 2025 2026 2025 For the Three Months Ended For the Six Months Ended June 30, June 30, 2026 2025 2026 2025 Net Loss $ ( 6,039 ) $ ( 29,312 ) $ ( 17,602 ) $ ( 50,320 ) Other Comprehensive (Loss) Income: Foreign currency translation adjustments ( 884 ) 4,663 ( 1,117 ) 7,414 Total Comprehensive Loss $ ( 6,923 ) $ ( 24,649 ) $ ( 18,719 ) $ ( 42,906 ) The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 3 BLINK CHARGING CO. Unaudited Condensed Consolidated Statements of Changes in Stockholders’ Equity For the Three and Six Months Ended June 30, 2026 (in thousands, except for share amounts) Accumulated Additional Other Total Preferred Stock Common Stock Paid-In Comprehensive Accumulated Stockholders’ Shares Amount Shares Amount Capital Loss Deficit Equity Balance - January 1, 2026 - $ - 142,128,133 $ 142 $ 895,505 $ ( 8,731 ) $ ( 822,426 ) $ 64,490 Stock-based compensation - - 840,529 1 1,327 - - 1,328 Common stock issued upon warrant exercise - - 179,020 - - - - - Other comprehensive loss - - - - - ( 233 ) - ( 233 ) Net loss - - - - - - ( 11,563 ) ( 11,563 ) Balance - March 31, 2026 - $ - 143,147,682 $ 143 $ 896,832 $ ( 8,964 ) $ ( 833,989 ) $ 54,022 Stock-based compensation - - 627,722 1 693 - - 694 Common stock issued upon warrant exercise - - 4,087 - - - - - Other comprehensive loss - - - - - ( 884 ) - ( 884 ) Net loss - - - - - - ( 6,039 ) ( 6,039 ) Balance - June 30, 2026 - $ - 143,779,491 $ 144 $ 897,525 $ ( 9,848 ) $ ( 840,028 ) $ 47,793 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 4 BLINK CHARGING CO. Unaudited Condensed Consolidated Statements of Changes in Stockholders’ Equity For the Three and Six Months Ended June 30, 2025 (in thousands, except for share amounts) Accumulated Additional Other Total Preferred Stock Common Stock Paid-In Comprehensive Accumulated Stockholders’ Shares Amount Shares Amount Capital Income (Loss) Deficit Equity Balance - January 1, 2025 - $ - 101,970,907 $ 102 $ 860,300 $ ( 5,845 ) $ ( 735,855 ) $ 118,702 Common stock issued in public offering, net of issuance costs [1] - - 681,330 1 890 - - 891 Stock-based compensation - - 70,681 - 966 - - 966 Other comprehensive income - - - - - 2,751 - 2,751 Net loss - - - - - - ( 21,008 ) ( 21,008 ) Balance - March 31, 2025 - $ - 102,722,918 $ 103 $ 862,156 $ ( 3,094 ) $ ( 756,863 ) $ 102,302 Balance - $ - 102,722,918 $ 103 $ 862,156 $ ( 3,094 ) $ ( 756,863 ) $ 102,302 Stock-based compensation - - 377,567 - 787 - - 787 Other comprehensive income - - - - - 4,663 - 4,663 Net loss - - - - - - ( 29,312 ) ( 29,312 ) Balance - June 30, 2025 - $ - 103,100,485 $ 103 $ 862,943 $ 1,569 $ ( 786,175 ) $ 78,440 Balance - $ - 103,100,485 $ 103 $ 862,943 $ 1,569 $ ( 786,175 ) $ 78,440 [1] Includes gross proceeds of $ 909 , less issuance costs of $ 18 . The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 5 BLINK CHARGING CO. Unaudited Condensed Consolidated Statements of Cash Flows (in thousands) 2026 2025 For the Six Months Ended June 30, 2026 2025 Cash Flows From Operating Activities: Net loss $ ( 17,602 ) $ ( 50,320 ) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 5,075 5,590 Non-cash lease expense 1,582 2,254 Change in fair value of derivative and other accrued liabilities - ( 7 ) Provision for credit losses 451 306 Loss on disposal of property and equipment 734 5,762 Gain on sale of Envoy Technologies Inc. ( 802 ) - Non-cash gain on lease termination ( 309 ) - Provision for slow moving and obsolete inventory - 4,571 Change in fair value of consideration payable and earn-out liabilities ( 1,273 ) 2,463 Stock-based compensation 2,022 1,753 Changes in operating assets and liabilities: Accounts receivable 9,203 9,447 Inventory 710 ( 369 ) Prepaid expenses and other current assets ( 530 ) ( 1,251 ) Other assets ( 154 ) ( 25 ) Accounts payable, accrued expenses, and other current liabilities 576 ( 7,877 ) Other liabilities ( 126 ) ( 400 ) Operating lease liabilities ( 1,631 ) ( 1,794 ) Deferred revenue ( 1,308 ) 1,356 Total Adjustments 14,220 21,779 Net Cash Used In Operating Activities ( 3,382 ) ( 28,541 ) Cash Flows From Investing Activities: Proceeds from sale of marketable securities - 13,630 Proceeds from sale of equity method investment - 223 Cash of Envoy Technologies, Inc. disposed of in sale ( 485 ) - Proceeds from government grants 852 - Capitalization of engineering costs ( 29 ) ( 205 ) Purchases of property and equipment ( 954 ) ( 3,542 ) Net Cash (Used In) Provided By Investing Activities ( 616 ) 10,106 Cash Flows From Financing Activities: Proceeds from sale of common stock in public offering [1] - 891 Repayment of financing liability ( 63 ) ( 17 ) Net Cash (Used In) Provided By Financing Activities ( 63 ) 874 Effect of Exchange Rate Changes on Cash and Cash Equivalents and Restricted Cash ( 973 ) 1,111 Net Decrease In Cash and Cash Equivalents and Restricted Cash ( 5,034 ) ( 16,450 ) Cash and Cash Equivalents and Restricted Cash - Beginning of Period 39,657 41,852 Cash and Cash Equivalents and Restricted Cash - End of Period $ 34,623 $ 25,402 Cash and cash equivalents and restricted cash consisted of the following: Cash and cash equivalents $ 34,004 $ 25,318 Restricted cash 619 84 Cash and Cash Equivalents and Restricted Cash - End of Year $ 34,623 $ 25,402 [1] For the six months ended June 30, 2025, includes gross proceeds of $ 909 , less issuance costs of $ 18 . The accompanying notes are an integral part of these condensed consolidated financial statements. 6 BLINK CHARGING CO. Unaudited Condensed Consolidated Statements of Cash Flows — Continued (in thousands) For The Six Months Ended June 30, 2026 2025 Supplemental Disclosures of Cash Flow Information: Cash paid during the period for: Interest $ 39 $ 71 Income taxes $ 156 $ 28 Non-cash investing and financing activities: Right-of-use assets obtained in exchange for lease obligations $ 330 $ 351 Transfer of inventory to property and equipment $ ( 2,053 ) $ ( 952 ) Proceeds to be received from government grants $ 456 $ - Right-of-use assets derecognized in connection with lease termination $ 1,195 $ - Receivable recognized in sale of Envoy Technologies, Inc. $ 1,000 $ - Property and equipment obtained in exchange for accounts payable $ 854 $ - The accompanying notes are an integral part of these condensed consolidated financial statements. 7 BLINK CHARGING CO. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (in thousands, except for share and per share amounts) 1. BUSINESS ORGANIZATION, NATURE OF OPERATIONS AND BASIS OF PRESENTATION Organization and Operations Blink Charging Co., through its consolidated subsidiaries (collectively, the “Company” or “Blink”), is a leading owner, operator, and provider of electric vehicle (“EV”) charging equipment and networked EV charging services in the rapidly growing U.S. and international markets for EVs. Blink offers EV charging equipment and services, enabling EV drivers to recharge at various locations. Blink’s principal line of products and services is its Blink EV charging networks (the “Blink Network”) and Blink EV charging equipment and other EV-related services. The Blink Network is a proprietary, cloud-based system that operates, maintains, and manages Blink charging stations and handles the associated charging data, back-end operations, and payment processing. The Blink Network provides fleets, property owners, managers, parking companies, and state and municipal entities (“Property Partners”), among other types of commercial customers, with cloud-based services that enable the remote monitoring and management of EV charging stations. The Blink Network also provides EV drivers with vital station information, including station location, availability, and fees (as applicable). Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and disclosures required by U.S. GAAP for complete financial statements. In the opinion of management, such statements include all adjustments (consisting only of normal recurring items) which are considered necessary for a fair presentation of the condensed consolidated financial statements of the Company as of June 30, 2026 and for the three and six months then ended. The results of operations for the three and six months ended June 30, 2026 are not necessarily indicative of the operating results for the full year ending December 31, 2026 or any other period. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related disclosures of the Company as of December 31, 2025 and for the year then ended, which were filed with the Securities and Exchange Commission (“SEC”) on March 31, 2026 as part of the Company’s Annual Report on Form 10-K. 8 BLINK CHARGING CO. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (in thousands, except for share and per share amounts) 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Since the Annual Report for the year ended December 31, 2025, there have been no material changes to the Company’s significant accounting policies, except as disclosed in this note. LIQUIDITY As of June 30, 2026, the Company had cash and cash equivalents of $ 34,004 and working capital of $ 10,264 . During the three and six months ended June 30, 2026, the Company incurred a net loss of $ 6,039 and $ 17,602 , respectively, and used cash in operating activities of $ 3,382 . The Company has not yet achieved profitability and expects to continue to incur operating losses. While the BlinkForward Initiative (as defined elsewhere) has substantially decreased operating expenses and cash burn, in the near future the Company needs to generate significant additional revenues to achieve profitability. Historically, the Company has been able to raise funds to support business operations, although there can be no assurance that the Company will be successful in raising significant additional funds in the future. The Company expects that cash and cash equivalents, and future cash flows from operations, will fund operations for at least 12 months after the issuance date of the financial statements included in this Quarterly Report. The Company’s operations have primarily been funded through proceeds from equity and debt financings, and the Company continues to evaluate additional financing opportunities. The Company’s at-the-market (“ATM”) equity offering program, under which the Company may publicly issue and sell shares of its common stock, was reactivated upon the timely filing of the Company’s Annual Report on Form 10-K for the year ended December 31, 2025. There can be no assurance that the Company will be able to obtain additional funds on commercially acceptable terms, if at all, or that any funds raised will be sufficient to complete the Company’s EV development initiatives or attain profitable operations. NASDAQ Listing Compliance On January 26, 2026, the Company received written notice (the “Notice”) from the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market (“Nasdaq”) notifying the Company that, for the preceding 30 consecutive business days, the closing bid price of its common stock had been below the $ 1.00 per share minimum required for continued listing on The Nasdaq Capital Market under Nasdaq Marketplace Rule 5550(a)(2) (the “Bid Price Rule”). The Notice has no immediate effect on the listing or trading of the Company’s common stock on The Nasdaq Capital Market. In accordance with Nasdaq Marketplace Rule 5810(c)(3)(A), the Company was provided an initial compliance period of 180 calendar days from the date of the Notice, or until July 27, 2026, to regain compliance with the Bid Price Rule. Compliance may be regained if the closing bid price of the Company’s common stock meets or exceeds $ 1.00 per share for a minimum of 10 consecutive business days during the compliance period. Nasdaq may, in its discretion, require the Company to maintain a closing bid price of at least $ 1.00 per share for a period in excess of 10 consecutive business days, but generally no more than 20 consecutive business days, before determining that the Company has demonstrated an ability to maintain long-term compliance. The initial compliance period expired on July 27, 2026 without the Company having regained compliance with the Bid Price Rule. On July 28, 2026, the Company received a second notice (the “Second Notice”) from Nasdaq indicating that, while the Company has not yet regained compliance with the Bid Price Rule, the Company is eligible for an additional 180-calendar-day compliance period, or until January 25, 2027 (the “Second Compliance Period”), to regain compliance. According to the Second Notice, this determination was based on (i) the Company meeting the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing on The Nasdaq Capital Market, with the exception of the Bid Price Rule, and (ii) the Company’s written notice of its intention to cure the deficiency during the Second Compliance Period by effecting a reverse stock split, if necessary. If the Company chooses to implement a reverse stock split, it must complete the split no later than 10 business days prior to the expiration of the Second Compliance Period. If the Company does not demonstrate compliance by January 25, 2027, Nasdaq will provide written notification that the Company’s securities will be delisted, and the Company may then appeal the delisting determination to a Nasdaq Hearings Panel. There can be no assurance that the Company will regain compliance during the Second Compliance Period or otherwise maintain compliance with the other listing requirements of The Nasdaq Capital Market. BlinkForward Initiative In May 2025, the Company announced the BlinkForward Initiative (the “Initiative”) as part of a broader strategic restructuring plan aimed at accelerating the Company’s path to profitability and enhancing operational efficiency. Key pillars of the Initiative were designed to transform the Company into a more agile and lean organization. This included a significant reduction in our global workforce, reductions in other operating, general and administrative expenses, and a shift to contract manufacturing for EV hardware to reduce overhead expenses and focus on intellectual property and customer support efforts. The transition to contract manufacturing was completed in January 2026, and Blink no longer maintains manufacturing facilities in-house. INVENTORY As of June 30, 2026, the Company’s inventory was comprised of $ 2,946 of finished goods that were available for sale and $ 8,341 of raw material and work in process. As of December 31, 2025, the Company’s inventory was comprised of $ 5,532 of finished goods that were available for sale and $ 8,621 of raw material and work in process. FOREIGN CURRENCY TRANSACTIONS AND TRANSLATION Transaction gains (losses) attributable to foreign exchange were $ 5 and $( 1,522 ) during the three months ended June 30, 2026 and 2025, respectively. Transaction gains (losses) attributable to foreign exchange were $ 19 and $( 1,781 ) during the six months ended June 30, 2026 and 2025, respectively. Transaction gains and losses attributable to foreign exchange are included within general and administrative expenses on the condensed consolidated statements of operations for the six months ended June 30, 2026 and 2025. Foreign currency translation gains (losses) related to the translation of the financial statements of the Company’s foreign subsidiaries from their functional currency to the US dollar were $( 884 ) and $ 4,663 for the three months ended June 30, 2026 and 2025, respectively. Foreign currency translation adjustments related to the translation of the financial statements of the Company’s foreign subsidiaries from their functional currency to the US dollar were $( 1,117 ) and $ 7,414 for the six months ended June 30, 2026 and 2025, respectively. 9 BLINK CHARGING CO. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (in thousands, except for share and per share amounts) 2 . SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – CONTINUED REVENUE RECOGNITION The Company recognizes revenue primarily from the following different types of contracts: ● Product revenues – Revenue is recognized at the point where the customer obtains control of the goods and the Company satisfies its performance obligation, which generally is at the time it ships the product to the customer or installation of the product. ● Service revenues are comprised of the following: ○ Charging services revenues – The Company generates charging service revenue from fees charged to users for the use of charging stations, including per-session connection fees and usage-based charges. Revenue is recognized at the point in time when a particular charging session is completed. ○ Network fees – Represents a stand-ready obligation whereby the Company is obligated to perform over a period of time and, as a result, revenue is recognized on a straight-line basis over the contract term. Network fees are billed annually. ● Other revenues are comprised of the following: ○ Other – Primarily related to transaction fees recognized at a point in time. Other revenues are also comprised of sales related to alternative fuel credits. ○ Warranty – Extended warranties represent a stand-ready obligation whereby the Company is obligated to perform over a period of time and, as a result, revenue is recognized on a gross basis on a straight-line basis over the contract term. The Company also facilitates the sale of third-party warranties for which it acts as an agent; accordingly, revenue from third-party warranties is recognized on a net basis at the point in time of sale. Further, standard warranties are generally not accounted for as separate performance obligations as warranties do not provide a service in addition to the assurance that the charging stations will function as expected. ○ Grant and fees rebate – Grants and rebates related to EV charging stations and associated installation costs are accounted for by analogy to IAS 20. Grant proceeds are initially deferred and recognized in revenue in a manner consistent with the terms of the grant. ● Car-sharing revenue – Relates to revenues and expenses from electric vehicle-sharing and electric vehicle charging services provided to apartments, offices and hotels for use by their residents and guests and is recognized in accordance with ASC 842. Revenue is recognized over the duration of the rental agreements which are short term in nature. These services were provided through Envoy Technologies, Inc., which the Company sold on June 5, 2026. Accordingly, car-sharing revenue for the three and six months ended June 30, 2026 reflects activity only through the disposal date, and the comparative periods presented for 2025 reflect a full period of activity. See Note 9 – Sale of Envoy Technologies. 10 BLINK CHARGING CO. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (in thousands, except for share and per share amounts) 2 . SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – CONTINUED REVENUE RECOGNITION – CONTINUED The following table summarizes revenue recognized in the condensed consolidated statements of operations: SCHEDULE OF REVENUE RECOGNITION 2026 2025 2026 2025 For The Three Months Ended For The Six Months Ended June 30, June 30, 2026 2025 2026 2025 Revenues - Recognized at a Point in Time Product revenue $ 7,439 $ 14,509 $ 13,633 $ 22,889 Service revenue - charging services 8,296 7,940 17,421 14,982 Other revenues - warranty and other 1,895 2,244 3,072 3,741 Total Revenues - Recognized at a Point in Time 17,630 24,693 34,126 41,612 Revenues - Recognized Over a Period of Time Service revenue - network fees 3,188 2,869 6,293 5,333 Total Revenues - Recognized Over a Period of Time 3,188 2,869 6,293 5,333 ASC 842 - Revenues Car-sharing revenue 823 1,111 1,942 2,286 Revenues - Other Other revenues - grant and fees rebate 33 32 92 192 Total Revenue $ 21,674 $ 28,705 $ 42,453 $ 49,423 The timing of the Company’s revenue recognition may differ from the timing of payment by its customers. Payment terms are generally thirty days. A receivable is recorded when revenue is recognized prior to payment and the Company has an unconditional right to payment. Alternatively, when payment precedes the provision of the related services, the Company records deferred revenue until the performance obligations are satisfied. The Company recognizes revenue from numerous contracts with multiple performance obligations. For these contracts, the Company allocates the transaction price to each performance obligation based on the relative standalone selling price of the product or service underlying each performance obligation. The standalone selling price represents the observable price for which the Company would sell the product or service to a customer on a standalone basis (i.e., not sold as a bundled sale with any other products or services). The allocation of transaction price among separate performance obligations may impact the timing of revenue recognition but will not change the total revenue recognized on the contract. As of June 30, 2026, the Company had $ 15,119 related to contract liabilities where performance obligations have not yet been satisfied, which has been included within deferred revenue on the condensed consolidated balance sheets as of June 30, 2026. The Company expects to satisfy $ 12,563 of its remaining performance obligations for network fees, warranty revenue, product sales, and other and recognize the revenue within the next twelve months. The Company has elected to apply the practical expedient to expense costs to obtain contracts at the time the liability is incurred when the expected amortization period is one year or less. During the three months ended June 30, 2026 and 2025 there was no revenue recognized from performance obligations satisfied (or partially satisfied) in previous periods as specified by ASC 606-10-50-12A. During the three and six months ended June 30, 2026, the Company recognized $ 2,581 and $ 5,355 of revenues, respectively, related to network fees and warranty contracts, which were included in deferred revenues as of December 31, 2025. During the three and six months ended June 30, 2025, the Company recognized $ 2,529 and $ 5,390 of revenues, respectively, related to network fees and warranty contracts, which were included in deferred revenues as of December 31, 2024. Car-sharing services relate to revenues and expenses from electric vehicle-sharing and electric vehicle charging services provided to apartments, offices and hotels for use by their residents and guests and are recognized in accordance with ASC 842. The Company provides electric vehicles to be available for use and the contracting locations are invoiced on a monthly or quarterly basis under the terms of the agreement signed with each respective customer. Revenue is also derived from parties who schedule use of electric vehicles that are not provided specifically for exclusive use to a particular customer under an ongoing existing contractual arrangement. The Company accounts for such rentals as operating leases. The lease terms are included in the Company’s contracts, and the determination of whether the Company’s contracts contain leases generally does not require significant assumptions or judgments. The Company’s lease revenues do not include material amounts of variable payments. The Company does not provide an option for the lessee to purchase the rented vehicle at the end of the lease. The Company is unsure of when the customer will return the vehicles. As such, the Company does not know how much the customer will owe upon return of the vehicle and, therefore, cannot provide a maturity analysis of future lease payments. The Company’s vehicles are generally rented for short periods of time (generally a few hours). Lessees do not provide residual value guarantees on rented vehicles. The Company’s vehicles are typically rented for the majority of the time that the Company owns or leases the underlying vehicle. These services were provided through Envoy Technologies, Inc., which the Company sold on June 5, 2026. Accordingly, car-sharing revenue for the three and six months ended June 30, 2026 reflects activity only through the disposal date, and the comparative periods presented for 2025 reflect a full period of activity. See Note 9 – Sale of Envoy Technologies. 11 BLINK CHARGING CO. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (in thousands, except for share and per share amounts) 2 . SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – CONTINUED GOVERNMENT GRANTS The Company receives grants from federal, state, and foreign government agencies related to capital investments in electric vehicle charging equipment. The Company’s accounting policy is to analogize to IAS 20, Accounting for Government Grants and Disclosure of Government Assistance, under IFRS Accounting Standards. Under IAS 20, once it is reasonably assured that the entity will comply with the conditions of the grant, the grant money should be recognized on a systematic basis over the periods in which the entity recognizes the related expenses or losses for which the grant money is intended to compensate. The Company recognizes grants once it is probable that both of the following conditions will be met: (1) the Company is eligible to receive the grant and (2) the Company is able to comply with the relevant conditions of the grant. Government grants whose primary condition is the purchase, construction, or acquisition of a long-lived asset are considered asset-based grants and are recognized as a liability. Other government grants not related to long-lived assets are considered income-based grants, which are initially recognized as “Government grants receivable” and are also recognized as a reduction to the related cost of activities that generated the benefit. Proceeds received from asset-based grants are presented as cash inflows from investing activities on the condensed consolidated statements of cash flows, whereas proceeds received from income-based grants are presented as cash inflows from operating activities. Private and government grants and rebates related to EV charging stations and their installation are deferred and amortized in a manner consistent with the recognition of the related depreciation expense of the related asset over their useful lives. Grant receivables are included within prepaid expenses and other current assets on the Company’s condensed consolidated balance sheets. Current liabilities related to government grants are included within accounts payable, accrued expenses and other current liabilities, and non-current liabilities related to government grants are included within other liabilities. As of June 30, 2026, the Company had government grant receivables of $ 456 and government grant liabilities of $ 10,918 , of which $ 2,971 were current and $ 7,947 were non-current. As of December 31, 2025, the Company had government grant receivables of $ 0 and government grant liabilities of $ 11,067 , of which $ 2,869 were current and $ 8,198 were non-current. During the three months ended June 30, 2026 and 2025, government grants of $ 857 and $ 580 , respectively, were recognized as a reduction to depreciation expense on the condensed consolidated statements of operations. During the six months ended June 30, 2026 and 2025, government grants of $ 1,579 and $ 1,120 , respectively, were recognized as a reduction to depreciation expense on the condensed consolidated statements of operations. 12 BLINK CHARGING CO. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (in thousands, except for share and per share amounts) 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – CONTINUED NET LOSS PER COMMON SHARE Basic net loss per common share is computed by dividing net loss attributable to common shareholders by the weighted average number of common shares outstanding during the period. Diluted net loss per common share is computed by dividing net loss attributable to common shareholders by the weighted average number of common shares outstanding, plus the number of additional common shares that would have been outstanding if the common share equivalents had been issued (computed using the treasury stock or if converted method), if dilutive. The following potential common stock are excluded from the calculation of weighted average common shares outstanding because their inclusion would have been anti-dilutive: SCHEDULE OF OUTSTANDING DILUTED SHARES EXCLUDED FROM DILUTED LOSS PER SHARE COMPUTATION For the Three and Six Months Ended June 30, 2026 2025 Warrants 2,427,589 - Restricted stock units 1,340,849 1,691,148 Total potentially dilutive shares 3,768,438 1,691,148 In addition, warrants to purchase 2,750,152 and 1,150,152 shares for the three and six months ended June 30, 2026 and 2025, respectively, and options to purchase 424,437 and 558,359 shares for the three and six months ended June 30, 2026 and 2025, respectively, were excluded from the above table because their exercise prices exceeded the average market price of the Company’s common stock during the respective periods, and would have been anti-dilutive regardless of the Company’s net loss position. RECENTLY ADOPTED ACCOUNTING STANDARDS In July 2025, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets. The amendments provide a practical expedient that permits entities to assume that current economic conditions as of the balance sheet date will remain unchanged over the remaining life of current accounts receivable and current contract assets when developing reasonable and supportable forecasts for estimating expected credit losses under ASC 326. The ASU is effective for fiscal years beginning after December 15, 2025, including interim periods within those fiscal years, with early adoption permitted. The amendments are to be applied prospectively. The Company adopted this guidance on January 1, 2026, and its adoption did not have a material impact on the Company’s condensed consolidated financial statements and related disclosures. RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS In May 2026, the FASB issued ASU No. 2026-02, Environmental Credits and Environmental Credit Obligations (Topic 818). The ASU establishes authoritative guidance on the recognition, measurement, presentation, and disclosure of environmental credits and environmental credit obligations. The ASU is effective for the Company for annual reporting periods beginning after December 15, 2027, and interim reporting periods within those annual periods, with early adoption permitted. The amendments are to be applied using a modified retrospective transition method. The Company is currently evaluating the impact of this ASU on its condensed consolidated financial statements and related disclosures. RECLASSIFICATIONS Certain prior year balances have been reclassified in order to conform to current period presentation, primarily related to revenue and cost of revenues line items, which were reorganized to better align with how management views and operates the business and to conform the cost of revenue captions to the Company’s revenue categories. In addition, depreciation and amortization expense previously included within general and administrative expenses is presented as a separate operating expense caption. Amounts reclassified were $ 1,432 and $ 3,087 for the three and six months ended June 30, 2025, respectively. These reclassifications have no effect on previously reported total operating expenses, loss from operations, results of operations or net loss per share. 13 BLINK CHARGING CO. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (in thousands, except for share and per share amounts) 3. ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES Accounts payable, accrued expenses and other current liabilities consisted of the following: SCHEDULE OF ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES June 30, 2026 December 31, 2025 Accounts payable 27,777 28,404 Accrued professional, board and other fees 1,592 3,239 Accrued wages 2,586 2,723 Warranty payable 307 1,277 Accrued income, property and sales taxes payable 2,700 2,780 Accrued purchases 3,454 3,343 Other accrued expenses 4,573 2,607 Grant liabilities 2,971 2,869 Total accounts payable and accrued expenses $ 45,960 $ 47,242 4. STOCKHOLDERS’ EQUITY STOCK-BASED COMPENSATION The Company recognized stock-based compensation expense related to common stock, stock options and warrants for the three and six months ended June 30, 2026 of $ 694 and $ 2,022 , respectively, which is included within compensation expense on the condensed consolidated statements of operations. The Company recognized stock-based compensation expense related to common stock, stock options and warrants for the three months and six months ended June 30, 2025 of $ 787 and $ 1,753 , respectively, which is included within compensation expense on the condensed consolidated statements of operations. As of June 30, 2026, there was $ 3,044 of unrecognized stock-based compensation expense that will be recognized over the weighted average remaining vesting period of 1.98 years. RESTRICTED STOCK UNITS The Company grants Restricted Stock Units (“RSUs”) to employees, executives, and members of the Board of Directors under the Company’s equity incentive plan. RSUs represent a right to receive shares of the Company’s common stock upon vesting and have no exercise price. The RSUs vest ratably over service periods of one to three years from the date of grant, subject to the recipient’s continued service with the Company. Upon vesting, the RSUs automatically settle and convert into unrestricted shares of the Company’s common stock. The fair value of RSUs is determined based on the closing price of the Company’s common stock on the date of grant. A summary of the RSU activity during the six months ended June 30, 2026 is presented below: SCHEDULE OF RSU ACTIVITY Weighted Average Number of Grant Date Shares Fair Value Outstanding, January 1, 2026 1,474,443 $ 1.57 Granted 8,789,929 0.51 Vested ( 2,983,949 ) 0.96 Cancelled/forfeited/expired ( 158,280 ) 2.14 Outstanding, June 30, 2026 7,122,143 $ 0.51 As of June 30, 2026, 1,515,698 of RSUs that vested during the six months ended June 30, 2026 remain unissued. 14 BLINK CHARGING CO. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (in thousands, except for share and per share amounts) 5. LEASES OPERATING AND FINANCE LEASES Total operating lease expenses for the three and six months ended June 30, 2026 were $ 839 and $ 1,654 , respectively. Of these amounts, $ 568 and $ 994 , respectively, were recorded in other operating expenses and $ 271 and $ 660 , respectively, were recorded in cost of car-sharing revenue on the condensed consolidated statements of operations. Total operating lease expenses for the three and six months ended June 30, 2025 were $ 1,063 and $ 2,024 , respectively. Of these amounts, $ 629 and $ 1,230 , respectively, were recorded in other operating expenses and $ 434 and $ 794 , respectively, were recorded in cost of car-sharing revenue on the condensed consolidated statements of operations. Operating lease expenses consist of rent expense, common area maintenance adjustments and other expenses. In June 2026, the Company terminated its lease for its facility located at 17301 Melford Boulevard, Bowie, Maryland and accrued a lease termination fee . The Company derecognized the operating lease right-of-use asset and corresponding lease liabilities and recognized a gain on lease termination of $ 193 within other operating expenses during the three and six months ended June 30, 2026. Supplemental cash flows information related to leases was as follows: SCHEDULE OF SUPPLEMENTAL CASH FLOWS INFORMATION RELATED TO LEASES For The Six Months Ended June 30, 2026 2025 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 1,631 $ 1,794 Financing cash flows from finance leases $ 63 $ 17 Weighted Average Remaining Lease Term Operating leases 2.07 2.38 Finance leases - 3.16 Weighted Average Discount Rate Operating leases 7.6 % 7.2 % Finance leases 0.0 % 6.2 % Future minimum payments under non-cancellable leases as of June 30, 2026 were as follows: SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS For the Years Ending December 31, Operating Lease 2026 $ 1,028 2027 1,233 2028 1,053 2029 583 2030 579 2031 145 Total future minimum lease payments 4,621 Less: imputed interest ( 417 ) Total $ 4,204 15 BLINK CHARGING CO. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (in thousands, except for share and per share amounts) 5. LEASES – CONTINUED SUBLEASE In January 2026, the Company commenced a sublease of a portion of its facility located at 5081 Howerton Way, Bowie, Maryland. The sublease has a term through March 31, 2031, and rent commenced February 1, 2026 following an initial abatement period. Under the sublease, aggregate base rental income is approximately $ 2,286 over the sublease term. In connection with the sublease, the Company received from the sublessee an irrevocable letter of credit of approximately $ 70 , equal to the first and last months’ base rent, as security for the sublessee’s obligations under the sublease. The letter of credit is reducible to approximately $ 26 on the second anniversary of the rent commencement date, subject to no defaults. The following table presents future undiscounted sublease lease payments to be received as of June 30, 2026: SCHEDULE OF FUTURE UNDISCOUNTED SUBLEASE LEASE PAYMENTS For the Years Ending December 31, Total 2026 $ 155 2027 367 2028 482 2029 504 2030 518 2031 132 Total $ 2,158 6. FAIR VALUE MEASUREMENT Assets and liabilities measured at fair value on a recurring basis are as follows: SCHEDULE OF ASSETS AND LIABILITIES MEASURED AT FAIR VALUE Level 1 Level 2 Level 3 Total June 30, 2026 Level 1 Level 2 Level 3 Total Assets: Money market funds $ 29,039 $ - $ - $ 29,039 Total assets $ 29,039 $ - $ - $ 29,039 Liabilities: Warrant liability $ - $ - $ 30 $ 30 Earn-out liabilities - - 713 713 Total liabilities $ - $ - $ 743 $ 743 Level 1 Level 2 Level 3 Total December 31, 2025 Level 1 Level 2 Level 3 Total Assets: Money market funds $ 32,500 $ - $ - $ 32,500 Total assets $ 32,500 $ - $ - $ 32,500 Liabilities: Warrant liability $ - $ - $ 30 $ 30 Earn-out liabilities - - 1,986 1,986 Total liabilities $ - $ - $ 2,016 $ 2,016 In addition to assets and liabilities that are measured at fair value on a recurring basis, The Company also measures certain assets and liabilities at fair value on a nonrecurring basis. Non-financial assets, including goodwill, intangible assets, operating lease right of use assets, and property, plant and equipment, are measured at fair value when there is an indication of impairment and the carrying amount exceeds the asset’s projected undiscounted cash flows. These assets are recorded at fair value only when an impairment charge is recognized. The Company’s earn-out and consideration payable liabilities represent contingent consideration recognized in connection with the Company’s business acquisitions and are classified within Level 3 of the fair value hierarchy. The Company remeasures these liabilities at fair value on a recurring basis at each reporting date using a probability-based approach that reflects management’s estimate of the likelihood that the performance thresholds underlying the arrangements will be achieved. During the three and six months ended June 30, 2026, changes in these estimates were recognized in the condensed consolidated statements of operations. The following table sets forth a summary of the changes in the fair value of Level 3 liabilities that are measured at fair value on a recurring basis during the six months ended June 30, 2026: SUMMARY OF CHANGES IN FAIR VALUE OF LEVEL 3 WARRANT LIABILITIES MEASURED AT RECURRING BASIS 2026 Earn-Out Liabilities Beginning balance as of January 1, $ 1,986 Change in fair value of earn-out liabilities ( 1,273 ) Ending balance as of June 30, $ 713 16 BLINK CHARGING CO. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (in thousands, except for share and per share amounts) 7. COMMITMENTS AND CONTINGENCIES LITIGATION, DISPUTES AND SETTLEMENTS The Company may be subject to lawsuits, investigations, intellectual property matters, claims and proceedings, including, but not limited to, contractual disputes with vendors and customers and liabilities related to employment, health and safety matters that may arise in the ordinary course of business. The Company accrues for losses that are both probable and reasonably estimable. Loss contingencies are subject to significant uncertainties and, therefore, determining the likelihood of a loss and/or the measurement of any loss can be complex and subject to change. The Company believes it has recorded adequate provisions for any such lawsuits, investigations, claims, and proceedings as of June 30, 2026, and the Company believes it was not reasonably possible that a material loss had been incurred in excess of the amounts recognized in the consolidated financial statements. Given the inherent uncertainties of litigation, the ultimate outcome of the ongoing matters described herein cannot be predicted with certainty. While litigation is inherently unpredictable, the Company believes it has valid defenses with respect to the legal matters pending against it. However, future events or circumstances, currently unknown to management, may potentially have a material effect on the Company’s financial position, liquidity or results of operations in any future reporting period. 8. SEGMENT REPORTING The Chief Executive Officer is the Chief Operating Decision Maker (“CODM”). The CODM organizes the Company, manages resource allocations and measures performance as one operating and reportable segment. The Company sells, owns, and operates residential and commercial EV charging solutions, including its Blink Network and EVSE, to support EV drivers at various locations. Through June 5, 2026, the Company also owned and operated an EV car-sharing and ride-sharing program. The measure of segment assets reviewed by the CODM is total consolidated assets, as reported in the condensed consolidated balance sheets. The CODM reviews the following information on a consolidated basis: assets, revenues, cost of revenues, gross profit, compensation expense and operating loss in order to allocate operating and capital resources within the segment and to assess performance of the Company by comparing actual results to historical results and previously forecasted financial information. Other than certain disaggregated expense information provided in relation to other operating expenses, significant expenses regularly provided to the CODM are presented as shown on the statement of operations. The CODM is also regularly provided disaggregated expense information for other operating expenses, which is disaggregated between software costs and other expenses as shown in the table below: SCHEDULE OF DISAGGREGATED EXPENSE INFORMATION FOR OTHER OPERATING EXPENSES 2026 2025 2026 2025 For The Three Months Ended For The Six Months Ended June 30, June 30, 2026 2025 2026 2025 Other operating expenses Software $ 1,442 $ 1,466 $ 2,818 $ 3,259 Other (1) 2,680 5,259 4,937 8,815 Total other operating expenses $ 4,122 $ 6,725 $ 7,755 $ 12,074 (1) Includes operating lease expense, gain on sale of Envoy Technologies, Inc., insurance expense, office expenses and travel expenses. The following table sets forth our long-lived assets by geographic area, which consists of property and equipment, net and operating lease right-of-use assets: SCHEDULE OF LONG-LIVED ASSETS BY GEOGRAPHIC AREA June 30, 2026 December 31, 2025 United States $ 30,980 $ 35,296 United Kingdom 8,399 8,754 International - Other 4,051 4,972 Total $ 43,430 $ 49,022 The following table summarizes our revenue recognized in the condensed consolidated statements of operations by geographical area: SCHEDULE OF REVENUE RECOGNITION BY GEOGRAPHICAL AREA 2026 2025 2026 2025 For the Three Months Ended For the Six Months Ended June 30, June 30, 2026 2025 2026 2025 Revenues by Geographical Area U.S.A $ 14,216 $ 18,046 $ 26,469 $ 30,272 International (1) 7,458 10,659 15,984 19,151 Total Revenue $ 21,674 $ 28,705 $ 42,453 $ 49,423 (1) International revenue primarily consists of Belgium, United Kingdom and The Netherlands. 17 BLINK CHARGING CO. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (in thousands, except for share and per share amounts) 9. SALE OF ENVOY TECHNOLOGIES On June 5, 2026, the Company sold all of the outstanding common stock of Envoy Technologies, Inc. (“Envoy Technologies”), its electric vehicle car-sharing business, to BladeRanger Ltd., an unrelated third party, and deconsolidated Envoy Technologies as of that date. The disposal was undertaken as part of the Company’s strategy to focus its resources on its core electric vehicle charging operations and did not represent a strategic shift that has, or will have, a major effect on the Company’s operations and financial results. Consideration for the sale consisted of $ 1,000 in cash, subject to a post-closing working capital adjustment, and a $ 12,500 convertible promissory note to be issued by Envoy Technologies, which would be settled at the earlier of a qualified liquidity event as defined within the convertible promissory note agreement or the maturity date. The maturity date of the convertible promissory note is July 22, 2029 and may be extended two years at the Company’s discretion. Based on management’s assessment of historical market and industry considerations, current financial results of Envoy Technologies, and the probability of the qualified liquidity events, the Company concluded the fair value of the convertible promissory note was $ 0 . As of June 30, 2026, the cash consideration had not been received and is included in prepaid expenses and other current assets on the condensed consolidated balance sheet. The Company recognized a gain on sale of $ 802 , which is included in other operating expenses in the condensed consolidated statements of operations for the three and six months ended June 30, 2026. Following the sale, the Company provides transitional HR, finance, accounting, legal and technology services to Envoy Technologies on a cost-reimbursement basis under a transition services agreement with a term of six months, which may be extended for up to six additional months. 10. SUBSEQUENT EVENTS On July 28, 2026, the Company received the Second Notice from Nasdaq relating to its continued non-compliance with the Bid Price Rule. See Note 2 – Summary of Significant Accounting Policies for a discussion of the Second Notice and the Second Compliance Period. 18 ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Special Note Regarding Forward-Looking Information The following discussion and analysis of the results of operations and financial condition of Blink Charging Co. (together with its subsidiaries, “Blink” or the “Company”) as of June 30, 2026 and for the six months ended June 30, 2026 and 2025 should be read in conjunction with our financial statements and the notes to those financial statements that are included elsewhere in this Quarterly Report on Form 10-Q. References in this Management’s Discussion and Analysis of Financial Condition and Results of Operations to “us,” “we,” “our” and similar terms refer to Blink. This Quarterly Report contains forward-looking statements as that term is defined in the federal securities laws. The events described in forward-looking statements contained in this Quarterly Report may not occur. Generally, these statements relate to business plans or strategies, projected or anticipated benefits or other consequences of our plans or strategies, projected or anticipated benefits from acquisitions to be made by us, or projections involving anticipated revenues, earnings or other aspects of our operating results. The words “may,” “will,” “expect,” “believe,” “anticipate,” “project,” “plan,” “intend,” “estimate,” and “continue,” and their opposites and similar expressions, are intended to identify forward-looking statements. We caution you that these statements are not guarantees of future performance or events and are subject to a number of uncertainties, risks and other influences, many of which are beyond our control, which may influence the accuracy of the statements. Factors that may affect our results include, but are not limited to, the risks and uncertainties set forth under Part I, Item 1A, “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, and under a similar item in subsequent periodic reports, as discussed elsewhere in this Quarterly Report, particularly in Part II, Item 1A - Risk Factors. Any one or more of these uncertainties, risks and other influences, could materially affect our results of operations and whether forward-looking statements made by us ultimately prove to be accurate. Our actual results, performance and achievements could differ materially from those expressed or implied in these forward-looking statements. Except as required by federal securities laws, we undertake no obligation to publicly update or revise any forward-looking statements, whether from new information, future events or otherwise. U.S. dollars are reported in thousands, except for share and per share amounts. Overview We are a leading owner, operator, and provider of EV charging equipment and networked EV charging services in the rapidly growing U.S. and international markets for EVs. Blink offers residential and commercial EV charging equipment and services, enabling EV drivers to recharge at various locations. Blink’s principal line of products and services is its Blink Networks and Blink EV charging equipment, also known as EVSE, and other EV-related services. The Blink Networks are a proprietary, cloud-based system that operates, maintains, and manages Blink charging stations and handles the associated charging data, back-end operations, and payment processing. The Blink Networks provide Property Partners, among other types of commercial customers, with cloud-based services that enable the remote monitoring and management of EV charging stations. The Blink Networks also provide EV drivers with vital station information, including station location, availability, and fees (as applicable). To capture more revenues derived from providing EV charging equipment to commercial customers and to help differentiate Blink in the EV infrastructure market, Blink offers Property Partners a comprehensive range of solutions for EV charging equipment and services that generally fall into one of the business models below, differentiated by who owns the equipment and who bears the costs of installation, equipment, maintenance, and the percentage of revenue shared. ● In our Blink-owned turnkey business model, we incur the charging equipment and installation costs. We own and operate the EV charging station and provide connectivity of the charging station to the Blink Networks. In this model, which favors recurring revenues, we incur most costs associated with the EV charging stations; thus, we retain substantially all EV charging revenues after deducting network connectivity and processing fees. Our agreement with the Property Partner typically lasts nine years, with extensions that can bring it to 27 years. ● In our Blink-owned hybrid business model, we typically incur the charging equipment costs while the Property Partner incurs the installation costs. We own and operate the EV charging station and provide connectivity to the Blink Networks. In this model, since the Property Partner typically incurs the installation costs; we share a more generous portion of the EV charging revenues with the Property Partner after deducting Blink network connectivity and processing fees. Our agreement with the Property Partner typically lasts seven years, with extensions that can bring it to 21 years. ● In our host-owned business model, the Property Partner purchases, owns, and operates the Blink EV charging station and incurs the installation costs. We work with the Property Partner by providing site recommendations, connectivity to the Blink Networks, payment processing, and optional maintenance services. In this model, the Property Partner retains and keeps all the EV charging revenues after deducting Blink network connectivity and processing fees. As of June 30, 2026, there were approximately 48,015 chargers connected to the Blink Network. Of those, approximately 44,832 were Level 2 commercial chargers and approximately 2,039 DCFC were commercial chargers. Included on Blink Network are approximately 6,804 chargers owned by us. Another estimated 23,820 units were non-networked, on other networks, international sales, or deployments. 19 Product and Service Offerings We offer a variety of EV charging products and services to Property Partners and EV drivers. EV Charging Solutions ● Level 2 Charging Equipment. We offer a wide range of Level 2 (AC) EV charging equipment, for commercial, residential, and public locations. Our Level 2 chargers support the J1772 connector, the North American Charging Standard (NACS) connector, and the Type 2 connector used in Europe. Our commercial Level 2 chargers consist of the EQ product family in Europe and the United Kingdom and the Series 7, Series 8, and Series 10 product families in North America. We also offer the Shasta charger, a next-generation Level 2 platform designed to support ISO 15118 and “Plug & Charge” functionality. Certain Level 2 chargers offer optional cable management systems and connectivity to the Blink Network. Level 2 charging stations typically provide a full vehicle charge in approximately five to ten hours and are commonly deployed at workplaces, multifamily residential properties, retail and hospitality locations, parking facilities, such as those operated by municipalities, educational campuses, healthcare facilities, and airports. ● International Products. We offer Level 2 AC and DC charging products for international markets, including multifamily residential, workplace, retail, parking, hospitality, and fleet applications. These products are available with the Type 2, GBT, and CCS2 connectors and include Blink branded chargers and other hardware sourced or configured to meet regional and customer specific requirements . ● DC Fast Charging (DCFC ). We offer a complete line of DC Fast Charging equipment that ranges from 30kW to 600kW. Our DCFC products support NACS, CCS1, CHAdeMO connectors and are capable of producing up to an 80% battery charge in less than 30 minutes, depending on vehicle and conditions. DC fast charging stations typically require greater electrical infrastructure than Level 2 chargers and are deployed in high-traffic urban locations and along long-distance travel corridors. Our DCFC portfolio includes both all-in-one chargers and distributed cabinet and dispenser systems. ● Blink Networks. The Blink Networks are a cloud-based software platform that supports the operation and management of EV charging stations. The platform enables remote monitoring, management, payment processing, customer support, load management, roaming, reporting, and other network services. ● Blink Charging Mobile App. We offer Blink Charging Mobile Apps for iOS and Android devices that allow EV drivers to locate charging stations, view charger availability and charging speeds, initiate and pay for charging sessions, and manage their charging activity. ● Energy Management and Fleet Management. We offer energy management and fleet focused software solutions designed to help commercial, municipal, and other fleet operators manage charging operations and optimize energy usage and costs. These solutions may be deployed as standalone offerings or integrated with existing fleet and charging management systems. 20 Key Factors Affecting Operating Results We believe our performance and future success depend on several factors, including those discussed below: Competition - The EV charging equipment and service market is highly competitive, and we expect the market to become increasingly competitive as new entrants enter this growing market. Our products and services compete on product performance and features, the total cost of ownership, origin of manufacturing, sales capabilities, financial stability, brand recognition, product reliability, customer experience, and the installed base’s size. Existing competitors may expand their product offerings and sales strategies, and new competitors may enter the market. If our market share decreases due to increased competition, the Company’s revenue and ability to generate profits in the future may be impacted. Growth - Our growth is highly dependent upon the adoption by consumers of EVs, and we are subject to a risk of any reduced demand for EVs. The market for electric vehicles is still relatively new, rapidly evolving, characterized by rapidly changing technologies, price competition, additional competitors, evolving government regulation and industry standards, frequent new vehicle announcements, long development cycles for EV original equipment manufacturers, and changing consumer demands and behaviors. Factors that may influence the purchase and use of electric vehicles, include perceptions about EV quality, safety (in particular with respect to battery chemistries), design, performance, and cost; the limited range over which EVs may be driven on a single battery charge and concerns about running out of power while in use; improvements in the fuel economy of the internal combustion engine; consumers’ desire and ability to purchase a luxury automobile or one that is perceived as exclusive; the environmental consciousness of consumers; volatility in the cost of oil and gasoline; consumers’ perceptions of the dependency of the United States on oil from unstable or hostile countries and the impact of international conflicts; government regulations and economic incentives promoting fuel efficiency and alternate forms of energy; access to charging stations, standardization of EV charging systems and consumers’ perceptions about convenience and cost to charge an EV; and the availability of tax and other governmental incentives to purchase and operate EVs and future regulation requiring increased use of zero emissions vehicles. If the market for EVs does not gain broad market acceptance or develops slower than we expect, our business, prospects, financial condition and operating results may be adversely affected. Regulations - Our business is subject to a variety of federal, state and international laws and regulations, including those with respect to government incentives promoting fuel efficiency and alternate forms of energy, electric vehicles and others. These laws and regulations, and the interpretation or application of these laws and regulations, could change. Any reduction, elimination or discriminatory application of government subsidies and economic incentives because of policy changes, fiscal tightening or other reasons may result in diminished revenues from government sources and diminished demand for our products. In addition, new laws or regulations affecting our business could be enacted. These laws and regulations are frequently costly to comply with and may divert a significant portion of management’s attention. Changes to these applicable laws or regulations could affect business and/or harm our customers, thereby adversely affecting our business, financial condition and results of operations. Expansion through Acquisitions - We may pursue strategic domestic and international acquisitions to expand our operations. Risks in acquisition transactions include difficulties in the integration of acquired businesses into our operations and control environment, difficulties in assimilating and retaining employees and intermediaries, difficulties in retaining the existing clients of the acquired entities, assumed or unforeseen liabilities that arise in connection with the acquired businesses, the failure of counterparties to satisfy any obligations to indemnify us against liabilities arising from the acquired businesses, and unfavorable market conditions that could negatively impact our growth expectations for the acquired businesses. Fully integrating an acquired company or business into our operations may take a significant amount of time. If we are unable to integrate or pursue strategic acquisitions, our financial condition and results of the operations would be negatively impacted. Liquidity, Capital Resources, and Going Concern As of June 30, 2026, the Company had cash and cash equivalents of $34,004 compared to $39,568 in cash and cash equivalents as of December 31, 2025, representing a decrease of $5,564 in available liquidity due to ongoing operating losses and working capital requirements. In May 2025, we announced the BlinkForward Initiative, a strategic restructuring plan aimed at accelerating the Company’s path to profitability and enhancing operational efficiency. Key pillars of the BlinkForward Initiative were designed to transform the Company into a more agile and lean organization. This included a significant reduction in our global workforce from 513 to 290 as of the filing of this Quarterly Report, reductions in other operating, general and administrative expenses, and a shift to contract manufacturing for our EV hardware to reduce overhead expenses and focus on our intellectual property and customer support efforts. The transition to contract manufacturing was completed in January 2026, and Blink no longer maintains manufacturing facilities in-house. As reflected in our condensed consolidated financial statements as of June 30, 2026, we had cash and cash equivalents of $34,004, working capital of $10,264 and an accumulated deficit of $840,028. During the six months ended June 30, 2026, we incurred a net loss of $17,602. We have not yet achieved profitability. In December 2025, we completed an underwritten registered public offering of 26,666,666 shares of our common stock at a public offering price of $0.75 per share. We received gross proceeds of $20,000 from the public offering, less underwriting discounts and offering expenses of $1,474, for net proceeds of $18,526. The public offering was made pursuant to our registration statement on Form S-1 filed with the SEC on December 4, 2025, and final prospectus dated December 10, 2025. H.C. Wainwright & Co. and Roth Capital Partners acted as co-placement agents in connection with the offering. We have not yet achieved profitability and expect cash flows from operations to be volatile. While the BlinkForward Initiative substantially decreased our operating expenses and cash burn, we still need to generate substantial revenues in the near future to achieve profitability, even as our repeatable and recurring revenue from network and charging fees continues to grow. Historically, we have been able to raise funds to support our business operations, although there can be no assurance that we will be successful in raising significant additional funds in the future. We expect that our cash on hand and future cash flows from operations will fund our operations for at least 12 months after the issuance date of the financial statements included in this Quarterly Report. Since inception, our operations have primarily been funded through proceeds received in equity and debt financings. We believe we have access to capital resources and continue to evaluate additional financing opportunities. There is no assurance that we will be able to obtain funds on commercially acceptable terms, if at all. There is also no assurance that the amount of funds we might raise will enable us to complete our EV charging development initiatives or attain profitable operations. 21 Results of Operations Three and Six Months Ended June 30, 2026 Compared With Three and Six Months Ended June 30, 2025 For The Three Months Ended For The Six Months Ended June 30, June 30, 3 Months 6 Months 2026 2025 2026 2025 Difference $ Difference % Difference $ Difference % Revenues: Product revenue $ 7,439 $ 14,509 $ 13,633 $ 22,889 $ (7,070 ) -49 % $ (9,256 ) -40 % Service revenue 11,484 10,809 23,714 20,315 675 6 % 3,399 17 % Other revenue 1,928 2,276 3,164 3,933 (348 ) -15 % (769 ) -20 % Car-sharing revenue 823 1,111 1,942 2,286 (288 ) -26 % (344 ) -15 % Total Revenues 21,674 28,705 42,453 49,423 (7,031 ) -24 % (6,970 ) -14 % Cost of Revenues: Cost of product revenue 4,948 14,074 8,671 19,622 (9,126 ) -65 % (10,951 ) -56 % Cost of service revenue 5,823 6,222 13,202 11,503 (399 ) -6 % 1,699 15 % Cost of other revenue 766 1,302 1,575 2,142 (536 ) -41 % (567 ) -26 % Cost of car-sharing revenue 598 1,067 1,632 1,752 (469 ) -44 % (120 ) -7 % Depreciation and amortization 1,098 1,208 2,293 2,503 (110 ) -9 % (210 ) -8 % Total Cost of Revenues 13,233 23,873 27,373 37,522 (10,640 ) -45 % (10,149 ) -27 % Gross Profit 8,441 4,832 15,080 11,901 3,609 75 % 3,179 27 % Operating Expenses: Compensation 8,352 13,767 18,515 27,321 (5,415 ) -39 % (8,806 ) -32 % General and administrative expenses 1,750 10,686 5,302 17,899 (8,936 ) -84 % (12,597 ) -70 % Other operating expenses 4,122 6,725 7,755 12,074 (2,603 ) -39 % (4,319 ) -36 % Depreciation and amortization 1,715 1,432 2,782 3,087 283 20 % (305 ) -10 % Change in fair value of consideration payable and earn-out liabilities (1,273 ) 1,784 (1,273 ) 2,463 (3,057 ) -171 % (3,736 ) -152 % Total Operating Expenses 14,666 34,394 33,081 62,844 (19,728 ) -57 % (29,763 ) -47 % Loss From Operations (6,225 ) (29,562 ) (18,001 ) (50,943 ) 23,337 -79 % 32,942 -65 % Other Income (Expense): Other income, net 250 345 492 746 (95 ) -28 % (254 ) -34 % - - Total Other Income, Net 250 345 492 746 (95 ) -28 % (254 ) -34 % Loss Before Income Taxes $ (5,975 ) $ (29,217 ) $ (17,509 ) $ (50,197 ) $ 23,242 -80 % $ 32,688 -65 % Provision for income taxes (64 ) (95 ) (93 ) (123 ) 31 -33 % 30 -24 % Net Loss $ (6,039 ) $ (29,312 ) $ (17,602 ) $ (50,320 ) $ 23,273 -79 % $ 32,718 -65 % 22 Three Months Ended June 30, 2026 Compared With Three Months Ended June 30, 2025 Revenues Total revenue for the three months ended June 30, 2026 decreased by $7,031 or 24%, to $21,674 compared to $28,705 during the three months ended June 30, 2025. Revenue from product sales was $7,439 for the three months ended June 30, 2026 as compared to $14,509 during the three months ended June 30, 2025, a decrease of $7,070, or 49%. The decrease was primarily attributable to the Company’s strategic repositioning toward higher-margin market segments and more disciplined customer selection, including a reduction in lower-margin product sales. Product revenue was also adversely affected by continued softness in the electric vehicle charging market, particularly lower demand for commercial Level 2 chargers and DC fast chargers, compared to the prior-year period. Charging service revenue from Blink-owned charging stations was $11,484 for the three months ended June 30, 2026 as compared to $10,809 for the three months ended June 30, 2025, an increase of $675 or 6%. The increase is due to the higher utilization of the chargers and deployment of new chargers on the Blink Networks. Cost of Revenues Cost of revenues primarily consists of electricity reimbursements, revenue share payments to our Property Partner hosts, the cost of charging stations sold, connectivity charges provided by telco and other networks, warranty, repairs and maintenance services, and depreciation of our installed charging stations. Cost of revenues for the three months ended June 30, 2026 were $13,233 as compared to $23,873 for the three months ended June 30, 2025, a decrease of $10,640 or 45%, and in line with the decline in the product revenues as discussed above. There is a degree of variability in our costs in relationship to our revenues from period to period, primarily due to: ● electricity reimbursements that are unique to those Property Partner host agreements which provide for such reimbursements; ● revenue share payments are predicated on the contractual obligation under the property partner agreement and the revenue generated by the applicable chargers; ● cost of charging stations sold is predicated on the mix of types of charging stations and parts sold during the period; ● network costs are fixed in nature based on the number of chargers connected to the telco network regardless of whether the charger generates revenue; ● provisions for excess and obsolete inventory; and ● warranty and repairs and maintenance expenses are based on both the number of service cases completed during the period. Cost of product sales decreased by $9,126, or 65%, from $14,074 for the three months ended June 30, 2025 as compared to $4,948 for the three months ended June 30, 2026. Approximately $4,720 of this decrease is due to the reduction in product sales volume. In addition, the loss on adjustment for excess and obsolete inventory decreased by $634 during the three months ended June 30, 2026 compared to the same period in 2025. Furthermore, the Company recorded a loss on disposal of non-performing chargers of $3,856 during the three months ended June 30, 2025. Cost of charging services (electricity reimbursements) decreased by $399, or 6%, to $5,823 for the three months ended June 30, 2026 as compared to $6,222 for the three months ended June 30, 2025. The decrease in 2026 was attributable to the decreased number and mix of charging stations generating charging service revenues subject to electricity reimbursement. Depreciation and amortization expense decreased by $110 or 9%, to $1,098 for the three months ended June 30, 2026 as compared to $1,208 for the three months ended June 30, 2025. The decrease in depreciation expense was attributable to an increase in the grant revenue that is presented as an offset to the depreciation expense, and the decrease in the number of vehicles associated with the ride-share services as a part of the sale of Envoy. 23 Operating Expenses Compensation expense decreased by $5,415 or 39%, to $8,352 (consisting of $7,658 of cash compensation and benefits and $694 of non-cash compensation) for the three months ended June 30, 2026. Compensation expense was $13,767 (consisting of $12,980 of cash compensation and benefits and $787 of non-cash compensation) for the three months ended June 30, 2025. The decrease in compensation expense for the three months ended June 30, 2026 compared to the same period in 2025 was primarily related to decreases in personnel and compensation in executive, marketing, sales and operations departments as a result of cost savings and synergies realized. General and administrative expenses decreased by $8,936 or 84%, to $1,750 for the three months ended June 30, 2026 as compared to $10,686 for the three months ended June 30, 2025. The decrease was primarily attributable to the difference in the credit loss reserve of $5,511, decrease in professional services of $1,657 and decrease in accounting related fees of $956. Other operating expenses decreased by $2,603, or 39%, to $4,122 for the three months ended June 30, 2026 from $6,725 for the three months ended June 30, 2025. The decrease was primarily attributable to the assets impairment in the amount of $1,732 recorded during the three months ended June 30, 2025, a decrease of $301 related to research and development activities and a decrease of $281 related to rent. Depreciation and amortization expense included in operating expenses increased by $283, or 20%, to $1,715 for the three months ended June 30, 2026 as compared to $1,432 for the three months ended June 30, 2025. The Company recorded a gain on change in fair value of consideration payable and earn-out liabilities related to the Zemetric acquisition of $1,273 for the three months ended June 30, 2026 as compared to a loss of $1,784 for the three months ended June 30, 2025 due to the change in the inputs to the probability-weighted discounted cash flow model. Other Income (Expense) We recorded other income of $250 during the three months ended June 30, 2026 as compared to other income of $345 for the three months ended June 30, 2025. The decrease in other income was primarily related to a decrease in dividend and interest income of $105 during the three months ended June 30, 2026 as compared to the three months ended June 30, 2025. Net Loss Our net loss for the three months ended June 30, 2026 decreased by $23,273, or 79%, to $6,039 as compared to $29,312 for the three months ended June 30, 2025. The decrease was primarily attributable to a decrease in operating expenses, partially offset by a decline in revenues, and was accompanied by an improvement in gross profit. Total Comprehensive Loss Our total comprehensive loss for the three months ended June 30, 2026 was $6,923 whereas our total comprehensive loss for the three months ended June 30, 2025 was $24,649. 24 Six Months Ended June 30, 2026 Compared With Six Months Ended June 30, 2025 Revenues Total revenue for the six months ended June 30, 2026 decreased by $6,970, or 14%, to $42,453 compared to $49,423 during the six months ended June 30, 2025. Revenue from product sales was $13,633 for the six months ended June 30, 2026 as compared to $22,889 during the six months ended June 30, 2025, a decrease of $9,256, or 40%. The decrease was primarily attributable to the Company’s strategic repositioning toward higher-margin market segments and more disciplined customer selection, including a reduction in lower-margin product sales. Product revenue was also adversely affected by continued softness in the electric vehicle charging market, particularly lower demand for commercial Level 2 chargers and DC fast chargers, compared to the prior-year period. Charging service revenue from Blink-owned charging stations was $23,714 for the six months ended June 30, 2026 as compared to $20,315 for the six months ended June 30, 2025, an increase of $3,399, or 17%. The increase is due to the higher utilization of the chargers and deployment of new chargers on the Blink Networks. Cost of Revenues Cost of revenues primarily consists of electricity reimbursements, revenue share payments to our Property Partner hosts, the cost of charging stations sold, connectivity charges provided by telco and other networks, warranty, repairs and maintenance services, and depreciation of our installed charging stations. Cost of revenues for the six months ended June 30, 2026 were $27,373 as compared to $37,522 for the six months ended June 30, 2025, a decrease of $10,149 or 27%, and in line with the decline in the product revenues as discussed above. There is a degree of variability in our costs in relationship to our revenues from period to period, primarily due to: ● electricity reimbursements that are unique to those Property Partner host agreements which provide for such reimbursements; ● revenue share payments are predicated on the contractual obligation under the property partner agreement and the revenue generated by the applicable chargers; ● cost of charging stations sold is predicated on the mix of types of charging stations and parts sold during the period; ● network costs are fixed in nature based on the number of chargers connected to the telco network regardless of whether the charger generates revenue; ● provisions for excess and obsolete inventory; and ● warranty and repairs and maintenance expenses are based on both the number of service cases completed during the period. Cost of product sales decreased by $10,951, or 56%, from $19,622 for the six months ended June 30, 2025 as compared to $8,671 for the six months ended June 30, 2026. Approximately $5,633 of this decrease is due to the reduction in product sales volume. In addition, the adjustment for excess and obsolete inventory was $1,462 during the six months ended June 30, 2026 compared to $4,571 during the same period in 2025. Furthermore, the Company recorded a loss on disposal of non-performing chargers of $3,856 during the six months ended June 30, 2025. Cost of charging services (electricity reimbursements) increased by $1,699, or 15%, to $13,202 for the six months ended June 30, 2026 as compared to $11,503 for the six months ended June 30, 2025. The increase in 2026 was attributable to the increased number and mix of charging stations generating charging service revenues subject to electricity reimbursement. Depreciation and amortization expense decreased by $210, or 8%, to $2,293 for the six months ended June 30, 2026 as compared to $2,503 for the six months ended June 30, 2025. The decrease in depreciation expense was attributable to an increase in the grant revenue that is presented as an offset to the depreciation expense, and the decrease in the number of vehicles associated with the ride-share services as a part of the sale of Envoy. 25 Operating Expenses Compensation expense decreased by $8,806, or 32%, to $18,515 (consisting of $16,493 of cash compensation and benefits and $2,022 of non-cash compensation) for the six months ended June 30, 2026. Compensation expense was $27,321 (consisting of $25,568 of cash compensation and benefits and $1,753 of non-cash compensation) for the six months ended June 30, 2025. The decrease in compensation expense for the six months ended June 30, 2026 compared to the same period in 2025 was primarily related to decreases in personnel and compensation in executive, marketing, sales and operations departments as a result of cost savings and synergies realized. General and administrative expenses decreased by $12,597, or 70%, to $5,302 for the six months ended June 30, 2026 as compared to $17,899 for the six months ended June 30, 2025. The decrease was primarily attributable to the difference in the credit loss reserve of $6,811, a decrease in professional services of $2,674, a decrease in accounting related fees of $1,039, a decrease in tax compliance fees of $788 and a decrease in marketing expenditures of $749. Other operating expenses decreased by $4,319, or 36%, to $7,755 for the six months ended June 30, 2026 from $12,074 for the six months ended June 30, 2025. The decrease was primarily attributable to the asset impairment in the amount of $1,732 recorded during the six months ended June 30, 2025, a decrease of $819 related to research and development activities and a decrease of $566 related to rent. Depreciation and amortization expense included in operating expenses decreased by $305, or 10%, to $2,782 for the six months ended June 30, 2026 as compared to $3,087 for the six months ended June 30, 2025. The Company recorded a gain on change in fair value of consideration payable and earn-out liabilities related to the Zemetric acquisition of $1,273 for the six months ended June 30, 2026 as compared to a loss of $2,463 for the six months ended June 30, 2025 due to the change in the inputs to the probability-weighted discounted cash flow model. Other Income (Expense) We recorded other income of $492 during the six months ended June 30, 2026 as compared to $746 for the six months ended June 30, 2025. The decrease in other income was primarily related to a decrease of $261 in dividend and interest income. Net Loss Our net loss for the six months ended June 30, 2026 decreased by $32,718 or 65%, to $17,602 as compared to $50,320 for the six months ended June 30, 2025. The decrease was primarily due to lower operating expenses, partially offset by the decline in revenues, and was accompanied by an improvement in gross profit. Total Comprehensive Loss Our total comprehensive loss for the six months ended June 30, 2026 was $18,719 whereas our total comprehensive loss for the six months ended June 30, 2025 was $42,906. Liquidity and Capital Resources We measure our liquidity in a number of ways, including the following: June 30, 2026 December 31, 2025 (Unaudited) Cash and Cash Equivalents $ 34,004 $ 39,568 Working Capital $ 10,264 $ 25,846 Notes Payable $ 265 $ 265 During the six months ended June 30, 2026, we financed our activities from proceeds derived from equity financings occurring in prior periods. A significant portion of the funds raised from the sale of capital stock has been used to cover working capital needs and personnel, office expenses and various consulting and professional fees. For the six months ended June 30, 2026 and 2025, we used cash of $3,382 and $28,541, respectively, in operations. Our cash use for the six months ended June 30, 2026 was primarily attributable to our net loss of $17,602 adjusted for net non-cash expenses in the aggregate amount of $7,480, partially offset by $6,740 of net cash provided by changes in the levels of operating assets and liabilities. Our cash use for the six months ended June 30, 2025, was primarily attributable to our net loss of $50,320, adjusted for net non-cash expenses in the aggregate amount of $22,692, and $913 of net cash used in changes in the levels of operating assets and liabilities. During the six months ended June 30, 2026, net cash used in investing activities was $616, of which $852 was provided by government grants, $954 was used to purchase property and equipment, $485 of cash was disposed of in connection with the sale of Envoy, and $29 was used for capitalized engineering costs. During the six months ended June 30, 2025, net cash provided by investing activities was $10,106, of which $13,630 was provided by the sale of marketable securities and $223 was provided by the sale of an equity method investment, offset by $205 of capitalized engineering costs and $3,542 of which was used to purchase charging stations and other fixed assets. 26 During the six months ended June 30, 2026, cash used in financing activities was $63 which was used to pay down our liability in connection with a finance lease. During the six months ended June 30, 2025, cash provided by financing activities was $874, of which $17 was used to pay down our liability in connection with a finance lease, offset by $891 provided by offering proceeds related to the sale of common stock. As of June 30, 2026, we had cash and cash equivalents, working capital and an accumulated deficit of $34,004, $10,264 and $840,028, respectively. During the three and six months ended June 30, 2026, we had a net loss of $6,039 and $17,602, respectively, and used cash of $3,382 in operating activities. The Company has not yet achieved profitability and expects cash flows from operations to be volatile. The Company’s future operating needs include the planned costs to operate its business, including amounts required to fund working capital and future liquidity needs. The Company has no agreements, commitments, or understandings with respect to any financing alternatives. Any equity issuance would be dilutive to stockholders. In December 2025, we completed an underwritten registered public offering of 26,666,666 shares of our common stock at a public offering price of $0.75 per share. We received gross proceeds of $20,000 from the public offering, less underwriting discounts and offering expenses of $1,474, for net proceeds of $18,526. The public offering was made pursuant to our registration statement on Form S-1 filed with the SEC on December 4, 2025, and final prospectus dated December 10, 2025. H.C. Wainwright & Co. and Roth Capital Partners acted as co-placement agents in connection with the offering. Contractual Obligations and Commitments We have operating lease obligations over the next five years of approximately $4,204. These operating lease obligations are primarily related to corporate office space and warehousing. Critical Accounting Estimates The preparation of financial statements and related disclosures in conformity with U.S. GAAP requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenue and expense, and the related disclosures. We base our estimates on historical experience and on assumptions that we believe are reasonable under the circumstances; actual results may differ from these estimates. Our critical accounting estimates are described in Part II, Item 7, Critical Accounting Estimates in our Annual Report on Form 10-K for the year ended December 31, 2025, and our significant accounting policies are described in Note 2 – Summary of Significant Accounting Policies in our financial statements included elsewhere in this quarterly report. There have been no material changes to our critical accounting estimates or significant accounting policies since the filing of our Annual Report on Form 10-K for the year ended December 31, 2025. 27 ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK Foreign Currency Risk We have foreign currency risks related to our revenue and operating expenses denominated in currencies other than the U.S. dollar, primarily the euro, causing both our revenue and our operating results to be impacted by fluctuations in the exchange rates. Gains or losses from the revaluation of certain cash balances, accounts receivable balances and intercompany balances that are denominated in these currencies impact our net loss. A hypothetical decrease in all foreign currencies against the U.S. dollar of 1% would not result in a material foreign currency loss on foreign-denominated balances as of June 30, 2026. As our foreign operations expand, our results may be more materially impacted by fluctuations in the exchange rates of the currencies in which we do business. At this time, we do not enter into financial instruments to hedge our foreign currency exchange risk. ITEM 4. CONTROLS AND PROCEDURES Evaluation of Disclosure Controls and Procedures As of June 30, 2026, being the end of the period covered by this Quarterly Report, our management conducted an evaluation, under the supervision and with the participation of our chief executive officer and chief financial officer, of the effectiveness of our disclosure controls and procedures (as defined in Rule 13a-15(e) and Rule 15d-15(e) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)). Based on that evaluation, our chief executive officer and chief financial officer concluded that, as of June 30, 2026, our disclosure controls and procedures were not effective due to the material weakness in our internal control over financial reporting as discussed in Item 9A. Controls and Procedures – in the Company’s Form 10-K for the fiscal year ended December 31, 2025, under the heading “Management’s Annual Report on Internal Control Over Financial Reporting”. Limitations on Effectiveness of Controls and Procedures In designing and evaluating the disclosure controls and procedures and internal control over financial reporting, management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives. In addition, the design of disclosure controls and procedures and internal control over financial reporting must reflect the fact that there are resource constraints, and that management is required to apply judgment in evaluating the benefits of possible controls and procedures relative to their costs. Changes in Internal Control over Financial Reporting During the quarter ended June 30, 2026, management continued to commit effort and resources to the remediation of the material weakness reported in the Company’s Form 10-K for the fiscal year ended December 31, 2025. Except for the above, there were no other changes in our internal control over financial reporting that occurred during the quarter ended June 30, 2026, that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting. 28 PART II - OTHER INFORMATION ITEM 1. LEGAL PROCEEDINGS. For a description of our legal proceedings, see Note 7 – Commitments and Contingencies – Litigation, Disputes, and Settlements in Part I, Item 1 of this Quarterly Report on Form 10-Q. ITEM 1A. RISK FACTORS. In addition to the information set forth under Item 1A of Part I in our Annual Report on Form 10-K for the year ended December 31, 2025, and under a similar item in subsequent periodic reports, the information set forth at the beginning of Management’s Discussion and Analysis entitled “Special Note Regarding Forward-Looking Information,” and updates noted below, you should consider that there are numerous and varied risks, known and unknown, that may prevent us from achieving our goals. If any of these risks actually occur, our business, financial condition or results of operation may be materially and adversely affected. In such case, the trading price of our common stock could decline and investors could lose all or part of their investment. These risk factors may not identify all risks that we face and our operations could also be affected by factors that are not presently known to us or that we currently consider to be immaterial to our operations. We have a history of substantial net losses and expect losses to continue in the future; if we do not achieve and sustain profitability, our financial condition could suffer. We have experienced annual and quarterly net losses which may continue and which may negatively impact our ability to achieve our business objectives. We incurred a net loss of approximately $6.0 million for the three months ended June 30, 2026. As of June 30, 2026, we had net working capital of approximately $10.3 million and an accumulated deficit of approximately $840 million. We have not yet achieved profitability. If our revenues grow slower than we anticipate, or if our operating expenses are higher than we expect, we may not be able to achieve profitability on an annual or quarterly basis in the future and our financial condition could suffer. We can give no assurance that we will ever achieve profitable operations. Even if we achieve profitability in the future, we may not be able to sustain it in subsequent periods. Whether we can achieve cash flow levels sufficient to support our operations cannot be accurately predicted. We may need to borrow additional funds or sell our debt or equity securities, or some combination of both, to provide funding for our operations in the future. Such additional funding may not be available on commercially reasonable terms, or at all. ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS None. ITEM 3. DEFAULTS UPON SENIOR SECURITIES None. ITEM 4. MINE SAFETY DISCLOSURES. Not applicable. ITEM 5. OTHER INFORMATION None. 29 ITEM 6. EXHIBITS Incorporated by Reference Filed or Furnished Exhibit Number Exhibit Description Form Exhibit Number Exhibit Description 3.1 Articles of Incorporation, as amended most recently on August 17, 2017 10-K 3.1 04/17/2018 3.2 Bylaws, as amended most recently on January 29, 2018 10-K 3.2 04/17/2018 3.4 Certificate of Withdrawal for Series A Convertible Preferred Stock 8-K 3.1 04/07/2022 3.5 Certificate of Withdrawal for Series B Preferred Stock 8-K 3.2 04/07/2022 3.6 Certificate of Withdrawal for Series C Convertible Preferred Stock 8-K 3.3 04/07/2022 3.7 Certificate of Withdrawal for Series D Convertible Preferred Stock 8-K 3.4 04/07/2022 10.1 Amendment to the Blink Charging Co. 2018 Incentive Compensation Plan DEF 14A Appendix A 05/20/2026 31.1 Rule 13a-14(a) or 15d-14(a) Certification of Principal Executive Officer X 31.2 Rule 13a-14(a) or 15d-14(a) Certification of Principal Financial Officer X 32.1* Section 1350 Certification of Principal Executive Officer X 32.2* Section 1350 Certification of Principal Financial Officer X 101 The following financial statements from the Company’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2026, formatted in Inline XBRL: (i) Condensed Consolidated Balance Sheets as of June 30, 2026 (unaudited) and December 31, 2025; (ii) Unaudited Condensed Consolidated Statements of Operations for the Three and Six Months Ended June 30, 2026 and 2025; (iii) Unaudited Condensed Consolidated Statements of Comprehensive Loss for the Three and Six Months Ended June 30, 2026 and 2025; (iv) Unaudited Condensed Consolidated Statement of Changes in Stockholders’ Equity for the Three and Six Months Ended June 30, 2026; (v) Unaudited Condensed Consolidated Statement of Changes in Stockholders’ Equity for the Three and Six Months Ended June 30, 2025; (vi) Unaudited Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2026 and 2025; and (vii) Notes to Unaudited Condensed Consolidated Financial Statements. X 104 The cover page from the Company’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2026, formatted in Inline XBRL (included as Exhibit 101). X * In accordance with SEC Release 33-8238, Exhibits 32.1 and 32.2 are being furnished and not deemed filed for purposes of Section 18 of the Exchange Act. 30 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Date: August 6, 2026 BLINK CHARGING CO. By: /s/ Michael Battaglia Michael Battaglia President and Chief Executive Officer (Principal Executive Officer) Date: August 6, 2026 By: /s/ Michael Bercovich Michael Bercovich Chief Financial Officer (Principal Financial and Accounting Officer) 31