Is Blink charging a good stock to buy?

Blink Charging's stock price has been softening in recent months, in line with the lacklustre performance of the EV sector. Its revenue growth forecasts for 2024 aren't encouraging either, though guidance can be upgraded after Q1's performance, its own business developments and past history of upgrades.

Is Blink charging doomed to slow EV Growth?

It’s no coincidence that EV sales in the US slowed down in the past quarter. Sales grew by just 2.6% YoY compared to a 46.4% increase in Q1 2023. Does this mean that Blink Charging is doomed to slowing growth from now on even as its yet to attain profitability? Going by its forecasts for 2024, it would certainly appear so.

How did Blink charging perform in Q1 of 2024?

For Q1 of 2024, the company reported revenue growth of 73% on a year-over-year ( YOY) to $37.6 million. Additionally, Blink Charging has guided for gross margin of 33% for 2024 and expects to achieve positive adjusted EBITDA by December. Further, the company’s service revenue growth shows robustness.