Blink Charging Co (BLNK) 2022 Q2 法說會逐字稿

Good afternoon, and welcome to Blink Charging's Second Quarter 2022 Earnings Conference Call. (Operator Instructions) Please note this conference is being recorded. A replay of this call will be available on the Investor Relations page of the company's website.

下午好，歡迎參加 Blink Charging 的 2022 年第二季度收益電話會議。 （操作員說明）請注意此會議正在錄製中。該電話的重播將在公司網站的投資者關係頁面上提供。

At this time, I'd like to turn the presentation over to Vitalie Stelea, Vice President of Investor Relations.

在這個時候，我想把演示文稿交給投資者關係副總裁 Vitalie Stelea。

Thank you, Alice. Welcome to Blink's second quarter 2022 earnings call. On the call today, we have Michael Farkas, Chairman and Chief Executive Officer; Brendan Jones, President; and Michael Rama, Chief Financial Officer.

謝謝你，愛麗絲。歡迎參加 Blink 2022 年第二季度財報電話會議。在今天的電話會議上，我們有主席兼首席執行官 Michael Farkas；布倫丹·瓊斯，總裁；和首席財務官邁克爾·拉瑪。

Today's discussions will include non-GAAP references. These are reconciled to the most comparable U.S. GAAP measures in the appendix of our earnings deck. You can find the deck along with the rest of our earnings materials, another important content on Blink's Investor Relations website. Please note, today's discussions may also include forward-looking statements about our expectations. Actual results may differ from those stated. The most significant factors that could cause actual results to differ are included on Page 2 of the second quarter earnings deck. Unless otherwise noted, all comparisons are year-over-year.

今天的討論將包括非 GAAP 參考。這些與我們收益表附錄中最具可比性的美國公認會計原則措施相一致。您可以在 Blink 的投資者關係網站上找到該套牌以及我們的其他收益材料，這是另一個重要內容。請注意，今天的討論還可能包括關於我們預期的前瞻性陳述。實際結果可能與所述結果不同。可能導致實際結果不同的最重要因素包含在第二季度收益甲板的第 2 頁中。除非另有說明，否則所有比較均為同比。

And now, regarding our business calendar, we have 2 upcoming engagements. On August 10th, Michael Farkas, (technical difficulty) and Founder, will present at the JPMorgan Auto Conference in New York. And on September 7th, Blink will participate in the Barclays CEO Energy-Power Conference, also in New York City.

現在，關於我們的業務日曆，我們有兩個即將到來的約會。 8 月 10 日，創始人 Michael Farkas（技術難度）將出席紐約摩根大通汽車大會。 9 月 7 日，Blink 將參加同樣在紐約市舉行的巴克萊 CEO Energy-Power 會議。

And now, I will turn the call over to Michael Farkas, Founder and CEO of Blink Charging. Go ahead, Michael.

現在，我將把電話轉給 Blink Charging 的創始人兼首席執行官 Michael Farkas。來吧，邁克爾。

Good afternoon, everyone. Thank you for joining us. We delivered a very strong second quarter of 2022 highlighted by record revenue of $11.5 million, an increase of over 164% over the second quarter of 2021. It is very important to note here that from an organic growth perspective, excluding 2022 acquisitions, our second quarter revenue doubled on a year-over-year basis, which proves that we have a solid strategy and robust growth on both our owner-operator side and the ancillary sales models.

大家下午好。感謝您加入我們。我們在 2022 年第二季度實現了非常強勁的業績，收入達到創紀錄的 1150 萬美元，比 2021 年第二季度增長了 164% 以上。這裡非常重要的是要注意，從有機增長的角度來看，不包括 2022 年的收購，我們的第二個季度收入同比翻了一番，這證明我們在業主運營商方面和輔助銷售模式方面都有穩健的戰略和強勁的增長。

During the second quarter, our product sales grew by 170%, service revenue grew by 155%, and recurring network fees grew by nearly 350%. Our record second quarter results are reflective of our strong fundamentals as these results do not -- and I repeat, do not yet fully reflect the integration of our recent acquisitions of SemaConnect and EB Charging. In fact, our second quarter results include only half of a month of Sema's financials since this transaction closed on June 15.

第二季度，我們的產品銷售額增長了 170%，服務收入增長了 155%，經常性網絡費用增長了近 350%。我們創紀錄的第二季度業績反映了我們強勁的基本面，因為這些業績沒有——我再說一遍，還沒有完全反映我們最近收購 SemaConnect 和 EB Charging 的整合。事實上，我們的第二季度業績僅包括自 6 月 15 日交易結束以來 Sema 半個月的財務狀況。

Going forward, the recent acquisitions will only accelerate our momentum in sales, network expansion and product development. In the quarter, we contracted, sold or deployed 5,630 commercial and residential chargers, an increase of [73%] same quarter last year. During the same period, Blink was awarded an additional $2 million from various (technical difficulty) $32 million since the beginning of 2021.

展望未來，最近的收購只會加速我們在銷售、網絡擴張和產品開發方面的勢頭。本季度，我們簽約、銷售或部署了 5,630 個商用和住宅充電器，比去年同期增加了 [73%]。同期，自 2021 年初以來，Blink 從各種（技術難度）3200 萬美元中額外獲得了 200 萬美元。

In addition, we are extremely encouraged by yesterday's passage of the Inflation Reduction Act in the Senate. We believe that the Act provisions for consumer incentives for both new and used electric vehicles, conversion of government fleets to EVs, and its favorable tax and CapEx implications will contribute to a faster transition to electric transportation, resulting in higher demand for EV charging infrastructure. This aligns well with Blink's strategy and our future growth plans.

此外，我們對昨天在參議院通過的《降低通脹法案》感到非常鼓舞。我們認為，該法案對新舊電動汽車的消費者激勵措施、政府車隊向電動汽車的轉換及其有利的稅收和資本支出影響的規定將有助於更快地向電動交通過渡，從而導致對電動汽車充電基礎設施的需求增加。這與 Blink 的戰略和我們未來的增長計劃非常吻合。

On Slide 5 is the most important highlight of this quarter, which is Blink's acquisition of SemaConnect. The combination of Blink and Sema creates a powerhouse of the charging industry, adding over 12,800 active chargers and 151,000 registered users to Blink's portfolio of chargers. And as importantly, this acquisition provides Blink with vertically integrated manufacturing capabilities in the U.S., which instantly qualifies Blink for the Buy American mandate within the Biden administration's $7.5 billion EV charging investment plan.

幻燈片 5 是本季度最重要的亮點，即 Blink 對 SemaConnect 的收購。 Blink 和 Sema 的結合創造了充電行業的強國，為 Blink 的充電器組合增加了 12,800 多個活動充電器和 151,000 名註冊用戶。同樣重要的是，此次收購為 Blink 在美國提供了垂直整合的製造能力，這立即使 Blink 有資格在拜登政府 75 億美元的電動汽車充電投資計劃中獲得購買美國產品的授權。

Sema's large portfolio of technology and intellectual property includes Level 3 DC fast chargers, which significantly accelerates Blink's go-to-market strategy in the fast-charging DC space. And financially, Sema has one of the highest, if not the highest, margin profiles in the industry with a strong recurring sales and cash flow model and multiple revenue streams. We are very pleased with this acquisition and look forward to continuing the integration of Sema into the Blink family. Mahi Reddy, Founder and Chief Executive Officer of SemaConnect, joined the Blink Board of Directors recently, a great addition which will positively impact the integration process.

Sema 的大量技術和知識產權組合包括 3 級直流快速充電器，這顯著加快了 Blink 在快速充電直流領域的上市戰略。在財務方面，Sema 是業內利潤率最高的公司之一，擁有強大的經常性銷售和現金流模式以及多種收入來源。我們對此次收購感到非常高興，並期待繼續將 Sema 整合到 Blink 家族中。 SemaConnect 的創始人兼首席執行官 Mahi Reddy 最近加入了 Blink 董事會，這將對整合過程產生積極影響。

On Page 6, you can see that SemaConnect acquisition was preceded by 2 other very important transactions. In April of 2022, we closed the EB Charging acquisition in UK, giving us access to the UK and Ireland markets and adding nearly 1,200 chargers to Blink's global footprint. As a part of that transaction, the acquired and confirmed order book was about $16 million, which is being fulfilled as we speak. Prior to that, in May 2021, we acquired Blue Corner in Continental Europe, establishing initial presence there with plans to grow significantly in the fast-growing European market. This includes countries such as Belgium, Netherlands, France, among many others.

在第 6 頁，您可以看到 SemaConnect 收購之前還有 2 項非常重要的交易。 2022 年 4 月，我們完成了在英國的 EB Charging 收購，使我們能夠進入英國和愛爾蘭市場，並為 Blink 的全球足跡增加了近 1,200 個充電器。作為該交易的一部分，獲得併確認的訂單約為 1600 萬美元，正如我們所說的那樣，這些訂單正在履行中。在此之前，我們於 2021 年 5 月收購了歐洲大陸的 Blue Corner，在那裡建立了初步業務，併計劃在快速增長的歐洲市場顯著增長。這包括比利時、荷蘭、法國等國家。

Our strategy is paying off as demonstrated by the recently announced agreements with Q-Park to deploy nearly 600 chargers across 80 sites in the UK and Ireland. Q-Park is one of the 3 largest providers of parking facilities in Western Europe, so we're extremely excited about this new partnership.

正如最近宣布的與 Q-Park 達成的在英國和愛爾蘭的 80 個站點部署近 600 個充電器的協議所示，我們的戰略正在取得成效。 Q-Park 是西歐三大停車設施供應商之一，因此我們對這一新的合作夥伴關係感到非常興奮。

Blink's strategic and organic growth has contributed to our fast global expansion. As you can see on Slide 7, our network is already established on 3 continents and key markets within each, and we are looking to expand further from here. We think that there is significant opportunity ahead for Blink because of our equipments, our new and updated soon-to-be-revealed software, and our network are compatible with the charging infrastructure in most places on the globe. Combined with strong projected growth rate in EV penetration and EV infrastructure needs, we think Blink is very well positioned for substantial organic and strategic growth.

Blink 的戰略和有機增長為我們快速的全球擴張做出了貢獻。正如您在幻燈片 7 中看到的那樣，我們的網絡已經在 3 大洲和每個主要市場建立起來，我們希望從這裡進一步擴展。我們認為，由於我們的設備、我們即將發布的新軟件和更新軟件以及我們的網絡與全球大多數地方的充電基礎設施兼容，Blink 面臨著巨大的機遇。結合電動汽車普及率和電動汽車基礎設施需求的強勁預期增長率，我們認為 Blink 非常適合實現實質性的有機和戰略增長。

In fact, a recent study from McKinsey published in April of this year, argues that the United States alone could have 48 million EVs on the road by 2030, 48 million. And globally, Bloomberg New Energy Finance recently pointed the need of between 340 million to [450 million] chargers by 2040. I'm going to repeat that, 340 million to [490 million] chargers, it's massive. And interestingly, when you think about only 3% of those are projected to be superchargers.

事實上，麥肯錫最近在今年 4 月發表的一項研究認為，到 2030 年，僅美國就有 4800 萬輛電動汽車上路，即 4800 萬輛。在全球範圍內，彭博新能源財經最近指出，到 2040 年需要 3.4 億至 [4.5 億] 個充電器。我要重複一遍，3.4 億至 [4.9 億] 個充電器，這是巨大的。有趣的是，當您考慮其中只有 3% 的預計將成為增壓器時。

Blink is positioned to take advantage of this incredible growth environment due to our strong value proposition. As you can see on Page 8, we believe Blink has the most advanced technology in the market right now with strong intellectual property and vertical integration capabilities globally. We offer multiple business models to our customers for them to choose how they want to deploy their capital, anywhere from full ownership to no capital requirement and minimal involvement. And we have an extremely large footprint that we believe will only keep growing at a very, very accelerated pace.

由於我們強大的價值主張，Blink 能夠充分利用這一令人難以置信的增長環境。正如您在第 8 頁上看到的，我們相信 Blink 擁有目前市場上最先進的技術，具有強大的知識產權和全球垂直整合能力。我們為客戶提供多種商業模式，讓他們選擇他們希望如何部署資本，從完全所有權到無資本要求和最少參與。而且我們的足跡非常大，我們相信它只會以非常非常快的速度繼續增長。

On Page 9, another thing that I'm tremendously excited about is Blink's new global framework empowered by our recent acquisitions, which we believe is a game-changer in the EV charging industry. Despite having manufacturing capabilities in the U.S., India and Taiwan, our international network and portfolio of equipment is unparalleled today. Anywhere from New York to Brussels, Tel Aviv, London, even to Guam, you can use the same [lead network] and branded chargers in 6 languages, 19 currencies across 21 countries, and we're only getting started. We have a lot of other countries and many more features to follow.

在第 9 頁，我非常興奮的另一件事是 Blink 新的全球框架，該框架由我們最近的收購提供支持，我們認為這是電動汽車充電行業的遊戲規則改變者。儘管在美國、印度和台灣擁有製造能力，但我們的國際網絡和設備組合在今天是無與倫比的。從紐約到布魯塞爾、特拉維夫、倫敦，甚至到關島，您都可以在 21 個國家/地區使用 6 種語言、19 種貨幣的相同 [領先網絡] 和品牌充電器，而我們才剛剛開始。我們還有很多其他國家和更多功能要遵循。

In essence, whether we own and operate or sell the hardware, Blink strives to deliver best-in-class products and services globally. This is what enables a faster transition to EVs and what helps our customers and site hosts to make the switch to EVs and to Blink.

從本質上講，無論我們擁有、運營還是銷售硬件，Blink 都致力於在全球範圍內提供一流的產品和服務。這使我們能夠更快地過渡到 EV，並幫助我們的客戶和站點主機切換到 EV 和 Blink。

With that, I'll turn the call over to Brendan Jones, President of Blink, to discuss some of our recent developments.

有了這個，我將把電話轉給 Blink 總裁 Brendan Jones，討論我們最近的一些發展。

Thanks, Michael, and good afternoon to everyone. As Michael talked about, it has been a very important and exciting quarter for Blink.

謝謝，邁克爾，大家下午好。正如邁克爾所說，對於 Blink 來說，這是一個非常重要和令人興奮的季度。

We're going to begin with Slide 11, and not only in the last quarter did we have a strong financial performance driven by solid fundamentals, but we also accomplished the acquisitions of EB Charging and SemaConnect. If we look just at EB Charging in the U.K., it has a unique business model for the owner-operator side of the business, where typically, in the U.K., we are able to get 80% of the CapEx covered by government entities. This is particularly attractive to us, especially since the U.K. government recently increased its commitment for the number of chargers by 10-fold to 300,000 by the end of the decade.

我們將從幻燈片 11 開始，不僅在上個季度，我們在堅實的基本面推動下擁有強勁的財務業績，而且我們還完成了對 EB Charging 和 SemaConnect 的收購。如果我們只看英國的 EB Charging，它為企業的所有者-運營商方面提供了獨特的商業模式，通常在英國，我們能夠獲得政府實體覆蓋的 80% 的資本支出。這對我們來說特別有吸引力，特別是因為英國政府最近將其對充電器數量的承諾增加了 10 倍，到本世紀末達到 300,000 個。

Alongside of this, the government is committed to GBP1.6 billion to increase public EV infrastructure. The acquisition of EB Charging will allow Blink to tap into the opportunities for growth, and increases Blink's footprint across Europe by leveraging synergies with Blue Corner or other European entity in Continental Europe.

除此之外，政府還承諾投入 16 億英鎊來增加公共電動汽車基礎設施。收購 EB Charging 將使 Blink 能夠利用增長機會，並通過利用與 Blue Corner 或歐洲大陸其他歐洲實體的協同效應來擴大 Blink 在歐洲的足跡。

Now adding to that synergy, the SemaConnect acquisition brings Blink unmatched speed to market, reduce cost, lower expenses, revenue growth and flexibility. It is another step towards our vision of creating the leading global electric vehicle charging ecosystem. It added thousands of chargers and registered users to the Blink portfolio, while further enhancing our comprehensive suite of smart hardware and software solutions for both retail and commercial applications. And we cannot say enough about the talented individuals at SemaConnect and the industry knowledge they bring to Blink. We have essentially doubled our headcount through this acquisition.

現在增加了這種協同效應，收購 SemaConnect 為 Blink 帶來了無與倫比的上市速度、降低成本、降低開支、收入增長和靈活性。這是我們朝著創建全球領先的電動汽車充電生態系統願景邁出的又一步。它為 Blink 產品組合增加了數千個充電器和註冊用戶，同時進一步增強了我們適用於零售和商業應用的全面智能硬件和軟件解決方案套件。對於 SemaConnect 的人才以及他們為 Blink 帶來的行業知識，我們說得再多也不為過。通過此次收購，我們的員工人數基本上翻了一番。

If we transition and now look at Slide 12, as the world continues to struggle with broken supply chains and chip shortages, SemaConnect vertical integration is key to achieving end-to-end design in in-house manufacturing. It will allow us to control the time line for delivery of products that will satisfy multiple customer demands. And these will effectively contribute to better cost management and industry-leading margins.

如果我們過渡並現在看看幻燈片 12，隨著世界繼續與斷裂的供應鍊和芯片短缺作鬥爭，SemaConnect 垂直整合是在內部製造中實現端到端設計的關鍵。這將使我們能夠控制滿足多種客戶需求的產品交付時間線。這些將有效地促進更好的成本管理和行業領先的利潤率。

We also believe that the in-house manufacturing capacity will be key to leading increased demand. In the United States in particular, SemaConnect's manufacturing facility in Bowie, Maryland allows us to become Buy America compliant, while we get to control the IP and the quality as well as the future ramp up in capacity. Same also applies to our manufacturing facility in India.

我們還認為，內部製造能力將是引領需求增長的關鍵。特別是在美國，SemaConnect 在馬里蘭州鮑伊的製造工廠使我們能夠符合購買美國的要求，同時我們可以控制 IP 和質量以及未來的產能提升。這同樣適用於我們在印度的製造工廠。

As we combine our complementary in-house engineering and software capabilities, we will be looking to leverage economies of scale across the board. As a matter of fact, we are already doing it. Our sales teams have started working hand-in-hand and addressing opportunities as one team, complementing each other's lead generation and product offerings.

當我們結合我們互補的內部工程和軟件能力時，我們將尋求全面利用規模經濟。事實上，我們已經在這樣做了。我們的銷售團隊已經開始攜手合作，以一個團隊的形式把握機會，在潛在客戶開發和產品供應方面相互補充。

If we flip now to Slide 13, when it comes to synergies on the revenue side, our plan includes upgrading existing SemaConnect customers to a new Level 2 Blink chargers and transitioning them to the new Blink network. The hardware and accessories we revealed at CES this year have received great reviews from our existing customers. As a result, we are also looking to increase the number of chargers at high utilization SemaConnect sites, thus increasing hardware revenue for each incremental charger sold.

如果我們現在翻到幻燈片 13，當談到收入方面的協同效應時，我們的計劃包括將現有的 SemaConnect 客戶升級到新的 2 級 Blink 充電器並將他們過渡到新的 Blink 網絡。我們今年在 CES 上展示的硬件和配件獲得了現有客戶的好評。因此，我們還希望增加高利用率 SemaConnect 站點的充電器數量，從而增加每個售出的增量充電器的硬件收入。

As we evaluate each site and our relationship with those new owners, we plan on providing SemaConnect customers with the option to switch to the hybrid revenue model, thus increasing the LTV per charger by about 10 to 15x. We believe this will be a win-win situation, especially with customers who are looking to ease the cost of owning and operating a charging site.

在評估每個站點以及我們與這些新所有者的關係時，我們計劃為 SemaConnect 客戶提供切換到混合收入模式的選項，從而將每個充電器的 LTV 提高約 10 到 15 倍。我們相信這將是一個雙贏的局面，特別是對於希望降低擁有和運營充電站點成本的客戶而言。

And besides the revenue synergies, we believe we have multiple opportunities on the cost side, in both cost optimization, revenue, expense avoidance and cost reduction. When it comes to hardware, we'll be leveraging SemaConnect's low-cost manufacturing capabilities with a targeted [cost for us] per unit of approximately 30%. I will say that again, 30% cost reduction. This is significant. This is a decrease from our current costs.

除了收入協同效應外，我們相信我們在成本方面有多種機會，包括成本優化、收入、避免費用和降低成本。在硬件方面，我們將利用 SemaConnect 的低成本製造能力，目標 [我們的成本] 每單位約為 30%。我再說一遍，降低 30% 的成本。這很重要。這比我們目前的成本有所減少。

Regarding talent, we are very excited to welcome SemaConnect's employees to the Blink family and scale these talented team members across the entire organization. More than 1/4 of SemaConnect's employees are highly skilled engineers with complementary skill sets to what we have today. And last but definitely not least, we plan to optimize our sales and customer service efforts to leverage scale and deliver the best quality of service and sales experience in the EV industry today.

關於人才，我們非常高興地歡迎 SemaConnect 的員工加入 Blink 大家庭，並將這些才華橫溢的團隊成員擴展到整個組織。 SemaConnect 超過 1/4 的員工是高技能工程師，他們的技能與我們今天的技能相輔相成。最後但同樣重要的是，我們計劃優化我們的銷售和客戶服務工作，以利用規模和提供當今電動汽車行業中最好的服務質量和銷售體驗。

If we transition to Slide 14 now, within the last 1 month, Blink has contracted, sold, deployed or acquired over 5,631 chargers, both domestically and international, bringing the total charger count for the company to over 51,000 since Blink's inception, which also includes the SemaConnect chargers. We have a healthy mix of deployments in the United States and abroad, with 74% of the total company-wide Blink chargers deployed in North America and 26% deployed internationally.

如果我們現在過渡到幻燈片 14，在過去 1 個月內，Blink 已在國內和國際簽約、銷售、部署或收購超過 5,631 個充電器，使該公司的充電器總數自 Blink 成立以來超過 51,000 個，其中還包括SemaConnect 充電器。我們在美國和國外進行了健康的部署，74% 的全公司 Blink 充電器部署在北美，26% 部署在國際上。

Consumer demand for electric vehicles is steadily increasing, and the forecast from reputable thought leaders was very optimistic, as Michael outlined earlier. When it comes to growth in charging infrastructure, our global network of chargers has steadily expanded quarter-over-quarter, and we expect this to continue well into the future.

正如邁克爾早些時候概述的那樣，消費者對電動汽車的需求正在穩步增長，知名思想領袖的預測非常樂觀。在充電基礎設施的增長方面，我們的全球充電器網絡環比穩步擴大，我們預計這種情況將持續到未來。

On Slide 15, as you can see from the logos and verticals, this is a very comprehensive list and speaks to the breadth and depth of our products and services. We won numerous multiyear contracts with a variety of well-respected commercial enterprises, health care facilities, multifamily complexes, planned communities and municipalities. SemaConnect's equally comprehensive portfolio significantly complement Blink. In fact, we are seeing tremendous opportunities to grow our customer base in the near future.

在幻燈片 15 上，您可以從徽標和垂直方向看到，這是一個非常全面的列表，說明了我們產品和服務的廣度和深度。我們與各種備受推崇的商業企業、醫療保健設施、多戶住宅區、規劃社區和市政當局簽訂了許多多年期合同。 SemaConnect 同樣全面的產品組合極大地補充了 Blink。事實上，我們看到了在不久的將來擴大客戶群的巨大機會。

Now if we move over to Slide 16, this gives us an overview of our stations deployed in key geographic locations throughout the United States and Europe. As you can see, with the SemaConnect acquisition, our customer base has expanded significantly to over 423,000 drivers registered within our portfolio of charges. We have offices in 9 locations across 5 countries, serving customers in more than 21 countries. Internationally, we are building the momentum achieved by Blue Corner and combined with our recent acquisition of EB Charging.

現在，如果我們轉到第 16 張幻燈片，這讓我們可以大致了解我們部署在美國和歐洲主要地理位置的站點。如您所見，通過收購 SemaConnect，我們的客戶群已顯著擴大到在我們的收費組合中註冊的超過 423,000 名司機。我們在 5 個國家的 9 個地點設有辦事處，為超過 21 個國家的客戶提供服務。在國際上，我們正在建立 Blue Corner 所取得的勢頭，並結合我們最近收購的 EB Charging。

On Slide 17, just to remind everyone, we have launched and will be launching several exciting products in 2022 including Blink's advanced fleet management software and the accompanying mobile app designed to be used with the advanced MQ 200 hardware. MQ 200 was launched this past quarter and the initial feedback is very positive. The combination of hardware and software will provide a 360-degree fleet ecosystem.

在幻燈片 17 上，提醒大家，我們已經推出並將在 2022 年推出幾款令人興奮的產品，包括 Blink 的高級車隊管理軟件和隨附的移動應用程序，旨在與高級 MQ 200 硬件一起使用。 MQ 200 在上個季度推出，最初的反饋非常積極。硬件和軟件的結合將提供一個 360 度的車隊生態系統。

Moreover, we are preparing for the launch of an entirely redesigned Blink mobile app and cloud application, which is based on the latest tech stack and will make EV charging even more easier for drivers and operators. We are excited about the innovative Vision charger designed for the retail location, which has now been completely redesigned, as can be seen on Slide 17.

此外，我們正準備推出一個完全重新設計的 Blink 移動應用程序和雲應用程序，它基於最新的技術堆棧，將使 EV 充電對司機和操作員來說更加容易。我們對專為零售店設計的創新 Vision 充電器感到興奮，該充電器現已完全重新設計，如幻燈片 17 所示。

In addition to that, HQ 200 is a residential charger which is fully networked and will allow customers to stay within the Blink network even in their homes. And also as important, the newly added Series 8 family of chargers, which allow customers to use their credit card to pay for service, which is in fact a requirement effective January 1, 2023 for retail and public locations in California. Overall, we have a comprehensive portfolio of charging solutions to fit the needs of any customers, public or private, with the capability to penetrate numerous different markets.

除此之外，HQ 200 是一款完全聯網的住宅充電器，即使在家裡，客戶也可以留在 Blink 網絡內。同樣重要的是，新增的 8 系列充電器允許客戶使用信用卡支付服務費用，這實際上是 2023 年 1 月 1 日起對加利福尼亞零售和公共場所的要求。總體而言，我們擁有全面的充電解決方案組合，可滿足任何公共或私人客戶的需求，並有能力打入眾多不同的市場。

If we now go to Slide 18, this provides an overview of the historic $1.2 trillion federal infrastructure bill that includes an estimated $7.5 billion to be used for building the nationwide infrastructure to support the anticipated growth and the adoption of electric vehicles. Since January 2021, Blink has been awarded $32 million in grants from several different state organizations. We now have a tremendous opportunity to add to this number by capturing as much as possible of the $17.5 billion and aid in the expansion of our charging footprint.

如果我們現在轉到幻燈片 18，這將概述歷史性的 1.2 萬億美元的聯邦基礎設施法案，其中估計有 75 億美元將用於建設全國性基礎設施，以支持預期的增長和電動汽車的採用。自 2021 年 1 月以來，Blink 已從幾個不同的州組織獲得了 3200 萬美元的贈款。我們現在有一個巨大的機會來增加這個數字，盡可能多地利用 175 億美元並幫助擴大我們的充電足跡。

If we now flip to Slide 19, this shows some of our big wins. Our business development teams from Blink, SemaConnect, Blue Corner and EB are working together to develop and close deals across a large spectrum of customers, anywhere from established auto OEMs and suppliers, to large real estate developments and management firms, to local government fleets to retail and entertainment companies, among many others.

如果我們現在翻到幻燈片 19，這顯示了我們的一些重大勝利。我們來自 Blink、SemaConnect、Blue Corner 和 EB 的業務開發團隊正在合作開發和完成交易，涉及範圍廣泛的客戶，從成熟的汽車 OEM 和供應商到大型房地產開發和管理公司，再到地方政府車隊，零售和娛樂公司等等。

On the government side, 2 recent examples of our purchasing agreements with 2 governmental organizations are Region 1 Planning Council in Northern Illinois and Florida Sheriffs Association cooperative purchasing program. The Northern Illinois Council government helps local governments and agencies save time and money by leveraging the buying power of its 20 plus members within 6 county jurisdictions.

在政府方面，我們最近與 2 個政府組織簽訂的採購協議的 2 個例子是北伊利諾伊州的 1 區規劃委員會和佛羅里達州警長協會的合作採購計劃。北伊利諾伊州議會政府利用其 6 個縣轄區內 20 多名成員的購買力，幫助地方政府和機構節省時間和金錢。

The contract for EV charging equipment services for up to 10 years will enable members of our R1's Council of governments to participate under any of Blink's deployment model with favorable negotiated terms as awarded. The initial plan estimates up to 700 charging stations to be installed over the term of the purchasing agreement. Also in January, we announced -- in July, excuse me, we announced a successful contract award with the Florida Sheriffs Association cooperative purchasing program as an efficient vendor for electric vehicle stations. CPP vendors, Blink products will be made available to CPP participants providing them with direct access to Blink's EV charging stations. Blink now has the potential to reach and contract with thousands of state and local agencies, municipalities and educational organizations across Florida.

長達 10 年的電動汽車充電設備服務合同將使我們的 R1 政府委員會成員能夠以有利的談判條款參與 Blink 的任何部署模式。初步計劃估計在購買協議期限內將安裝多達 700 個充電站。同樣在 1 月，我們宣布 - 7 月，對不起，我們宣布與佛羅里達州警長協會合作採購計劃成功簽訂合同，作為電動汽車站的高效供應商。 CPP 供應商，Blink 產品將提供給 CPP 參與者，讓他們可以直接訪問 Blink 的 EV 充電站。 Blink 現在有可能與佛羅里達州數千個州和地方機構、市政當局和教育組織建立聯繫並與之簽約。

All in all, we are very, very pleased with our performance in the second quarter. Our fundamentals are strong as we delivered record financial performance in Q2, even without realizing the full benefits and synergies from recent acquisitions. The SemaConnect acquisition is transformational for Blink. We not only doubled the size of our employee base with some of the best talent in the industry but acquired key manufacturing capabilities and products know-how that positions us to continue to grow and benefit from the $7.5 billion infrastructure plan. We are excited for what's next for Blink.

總而言之，我們對第二季度的表現非常非常滿意。我們的基本面強勁，因為我們在第二季度實現了創紀錄的財務業績，即使沒有意識到最近收購的全部收益和協同效應。 SemaConnect 的收購對 Blink 來說是變革性的。我們不僅擁有業內最優秀的人才，員工基礎規模擴大了一倍，而且獲得了關鍵的製造能力和產品專業知識，使我們能夠繼續增長並從 75 億美元的基礎設施計劃中受益。我們對 Blink 的下一步發展感到興奮。

And now, I will turn it over to our CFO, Michael Rama, to run through some of the specific results for the quarter. Go ahead, Michael.

現在，我將把它交給我們的首席財務官邁克爾·拉瑪，來介紹本季度的一些具體結果。來吧，邁克爾。

Thank you, Brendan, and good afternoon, everyone. Turning to Slide 21, total revenue in the second quarter of 2022 grew to $11.5 million, another record for the company and an increase of 164% compared to the second quarter of 2021. Excluding the 2022 acquisitions, our revenues for the second quarter of 2022 doubled, which demonstrates the solid fundamentals of Blink's business and strong customer demand. We are at a point in the industry where more and more consumers are choosing EVs for their transportation needs and Blink provides the flexibility helping site hosts and consumers make the switch.

謝謝你，布倫丹，大家下午好。轉到幻燈片 21，2022 年第二季度的總收入增長到 1150 萬美元，這是該公司的另一個紀錄，與 2021 年第二季度相比增長了 164%。不包括 2022 年的收購，我們 2022 年第二季度的收入翻了一番，這表明了 Blink 業務的堅實基礎和強勁的客戶需求。我們正處於行業中，越來越多的消費者選擇電動汽車來滿足他們的交通需求，而 Blink 提供了幫助站點主機和消費者進行轉換的靈活性。

Year-to-date through June 30, 2022, our total revenues were $21.3 million compared to $6.6 million for the first 6 months of 2021. What's noteworthy here is that our year-to-date revenues through June 2022 have already surpassed total revenues of $20.9 million for all of 2021. Product sales in the second quarter of 2022 were $8.8 million, an increase of 170% over the same period in 2021, as customers purchase greater volumes of our commercial chargers, DC fast chargers and residential chargers.

截至 2022 年 6 月 30 日，我們的總收入為 2130 萬美元，而 2021 年前 6 個月為 660 萬美元。值得注意的是，截至 2022 年 6 月，我們的總收入已經超過2021 年全年為 2090 萬美元。2022 年第二季度的產品銷售額為 880 萬美元，比 2021 年同期增長 170%，因為客戶購買了更多我們的商用充電器、直流快速充電器和住宅充電器。

Second quarter 2022 service revenues, which consists of charging service revenues, network fees and ridesharing service revenues were $1.5 million, an increase of 155% compared to the second quarter of 2021. The year-over-year growth is primarily due to the increased utilization of our chargers and an increased number of chargers in Blink's networks. As you know, we combine these 3 service revenue line items into one amount to differentiate between the product and service aspects of our business. And this approach also aligns with our company's strategic goal of increasing the services component of our revenue mix and growing our recurring revenue base.

2022 年第二季度的服務收入為 150 萬美元，包括收費服務收入、網絡費用和拼車服務收入，與 2021 年第二季度相比增長 155%。同比增長主要是由於利用率增加我們的充電器和 Blink 網絡中的充電器數量增加。如您所知，我們將這 3 個服務收入項目合併為一個金額，以區分我們業務的產品和服務方面。這種方法也符合我們公司的戰略目標，即增加收入組合中的服務部分並擴大我們的經常性收入基礎。

In time, as EV adoption accelerates and utilization of power charging stations increases, we anticipate seeing a larger mix of revenues come from services.

隨著電動汽車的採用加速和充電站利用率的提高，我們預計會看到更多的收入來自服務。

Gross profit for the second quarter of 2022 was approximately $2 million, an increase of 204% over the same period of last year. We continue to look at ways to drive higher margins, especially in light of ongoing supply chain disruptions occurring globally.

2022年第二季度毛利潤約為200萬美元，同比增長204%。我們將繼續尋找提高利潤率的方法，特別是考慮到全球供應鏈持續中斷的情況。

Now, operating expenses in the second quarter of 2022 were $23.9 million compared to $13 million in the prior year period. This increase reflects acquisition-related expenses of approximately $3 million associated with the acquisitions of SemaConnect and EB. It also reflects higher expenses in the areas of accounting, legal, marketing, Investor Relations and consulting. Also included in the operating expenses for the second quarter of 2022 is increased amortization of intangible assets associated with the acquisitions of SemaConnect and EB. This expense will continue, but is non-cash in nature. Furthermore, the increase in operating expenses includes operating expenses from SemaConnect and EB that were not included in the results for the second quarter of 2021.

現在，2022 年第二季度的運營費用為 2390 萬美元，而去年同期為 1300 萬美元。這一增長反映了與收購 SemaConnect 和 EB 相關的約 300 萬美元的收購相關費用。它還反映了會計、法律、營銷、投資者關係和諮詢領域的更高費用。 2022 年第二季度的運營費用還包括與收購 SemaConnect 和 EB 相關的無形資產攤銷增加。這筆費用將繼續，但本質上是非現金的。此外，運營費用的增加包括未包含在 2021 年第二季度業績中的 SemaConnect 和 EB 的運營費用。

Because we strive to deliver best-in-class products and solutions, we continue to recruit talented individuals that will contribute to our company's growth and success. Many of those individuals participate in the research and development activity that will ensure that our products, software and innovative solutions remain above competition.

因為我們努力提供一流的產品和解決方案，所以我們將繼續招募能夠為公司的發展和成功做出貢獻的人才。其中許多人參與了研發活動，以確保我們的產品、軟件和創新解決方案在競爭中保持領先。

In 2021, we began presenting adjusted EBITDA. Our management team believes this non-GAAP measure is useful in evaluating our company's core operating performance because it excludes items that are either nonrecurring or significant noncash items. Adjusted EBITDA for the second quarter of 2022 was a loss of $15.6 million compared to a loss of $8 million in the prior year period due to the -- higher previously mentioned operating expenses. Adjusted EBITDA as a percentage of revenues for the second quarter of 2022 improved 49 basis points compared to the second quarter of 2021 and for the year has improved 88 basis points.

2021 年，我們開始展示調整後的 EBITDA。我們的管理團隊認為，這種非公認會計原則衡量標準有助於評估我們公司的核心經營業績，因為它不包括非經常性或重大非現金項目。 2022 年第二季度調整後的 EBITDA 虧損 1560 萬美元，而去年同期虧損 800 萬美元，原因是之前提到的運營費用較高。與 2021 年第二季度相比，2022 年第二季度調整後 EBITDA 佔收入的百分比提高了 49 個基點，全年提高了 88 個基點。

This quarter, we are also introducing the non-GAAP measure adjusted earnings per share, which is earnings per share, excluding significant noncash items such as amortization of intangible assets and nonrecurring expenses such as acquisition-related expenses. Adjusted earnings per share for the second quarter of 2022 was a loss of $0.41 for diluted share compared to a loss of $0.31 in the prior year period.

本季度，我們還引入了非公認會計原則衡量調整後的每股收益，即每股收益，不包括無形資產攤銷等重大非現金項目和收購相關費用等非經常性費用。 2022 年第二季度調整後的每股收益為稀釋後的每股虧損 0.41 美元，而去年同期為虧損 0.31 美元。

Now, turning to Slide 22, our revenues and gross profit performed well in the second quarter of 2022, continuing the upward trend that we've seen over the past several quarters now. As we execute on our flexible solutions of owner-operator strategy and selling of hardware, we believe that we are well positioned to continue driving increased revenues and gross profit moving forward.

現在，轉向幻燈片 22，我們的收入和毛利潤在 2022 年第二季度表現良好，延續了我們在過去幾個季度看到的上升趨勢。當我們執行我們的所有者-運營商戰略和硬件銷售的靈活解決方案時，我們相信我們有能力繼續推動收入和毛利潤的增長。

Moving to our cash position, at June 30, 2022, the company had approximately $85 million of cash compared to $175 million at the end of 2021. We believe we have sufficient cash on hand to fund our current operations. We are pleased with the second quarter of 2022 as we recorded another record quarter. These improvements in our operating results are a direct reflection of the solid foundation we've built over the past several years, and we believe we're well positioned to capitalize on the numerous opportunities and increased focus being placed on the EV industry.

轉向我們的現金狀況，截至 2022 年 6 月 30 日，公司擁有約 8500 萬美元的現金，而 2021 年底為 1.75 億美元。我們相信我們手頭有足夠的現金來資助我們目前的運營。我們對 2022 年第二季度感到滿意，因為我們又創下了一個創紀錄的季度。我們經營業績的這些改進直接反映了我們在過去幾年中建立的堅實基礎，我們相信我們已做好充分準備，可以利用眾多機會並更加關注電動汽車行業。

I will now turn the call back over to Michael Farkas for a few final comments. Michael?

我現在將把電話轉回給 Michael Farkas 以徵求最後的意見。邁克爾?

(technical difficulty) Second quarter of 2022 was a transformational quarter for Blink. Not only did our second quarter revenue doubled organically year-over-year, but we closed on 2 significant acquisitions that positioned Blink well to take advantage of the rapid industry growth. We are very excited to integrate EB and Sema into the Blink family and we continue to expand our hardware and software solutions globally.

（技術難度） 2022 年第二季度是 Blink 轉型的一個季度。我們的第二季度收入不僅比去年同期有機地翻了一番，而且我們完成了兩項重大收購，這使 Blink 能夠很好地利用行業的快速增長。我們很高興將 EB 和 Sema 集成到 Blink 系列中，並且我們將繼續在全球範圍內擴展我們的硬件和軟件解決方案。

With that, we will now open the call for questions.

有了這個，我們現在開始提問。

(Operator Instructions) Your first question is coming from Matt Summerville with D.A. Davidson.

（操作員說明）您的第一個問題來自 Matt Summerville 和 D.A.戴維森。

Couple of questions. I want to start with the core business. Can you give us some sort of idea when you look organically how much revenue is being derived on a quarterly basis from new customers versus those rebuying from Blink?.

幾個問題。我想從核心業務開始。當您有機地查看每季度從新客戶那裡獲得多少收入與從 Blink 重新購買的收入時，您能給我們一些想法嗎？

Mike, do you want me to jump on that one or...?

邁克，你想讓我跳上那個還是……？

Yes, that will be fine.

是的，那會很好。

Yes. No, obviously, Matt -- organically we're just seeing recurring nature of our revenues from our customers, the good -- we have big customers that we've announced with the OEMs and the many partners that we've had. Organically they continued to buy, obviously the chargers we're deploying into dealerships. So it's a continuous stream, but we're also adding new customers and new opportunities across the board. So, organically, obviously, as we mentioned in our comments, we doubled our revenues quarter-over-quarter, excluding the acquisitions. And we continue to see more, obviously, our customers recurring, but also new ones added to the mix.

是的。不，很明顯，馬特——有機地，我們只是看到我們的客戶收入的經常性，好的——我們已經與原始設備製造商和我們擁有的許多合作夥伴宣布了大客戶。他們自然而然地繼續購買，顯然是我們在經銷商中部署的充電器。所以這是一個持續的流，但我們也在全面增加新客戶和新機會。因此，有機地，顯然，正如我們在評論中提到的那樣，我們的收入環比翻了一番，不包括收購。我們繼續看到更多，顯然，我們的客戶經常出現，但也有新的客戶加入其中。

I'll add to that a little bit. We do see a lot of new customers. Obviously there have been a lot of property owners that have been sitting on the sidelines waiting to see more traction in the EV space. There's no longer a question of whether or not EVs are going to be the mode of transportation moving forward. We're seeing a lot more of those that have sat on the fence and now putting in orders and looking at it across the portfolio of properties.

我會補充一點。我們確實看到了很多新客戶。顯然，有很多業主一直在觀望，等待在電動汽車領域看到更多的牽引力。電動汽車是否會成為未來的交通方式不再是一個問題。我們看到更多的人坐在柵欄上，現在下訂單並在整個物業組合中查看它。

There is literally one of the major developers, New York has been sitting for years looking at EV and now we were able to put in 50 units or so in some of their locations throughout the 5 borrowers. So we're seeing guys that have been sitting on the fence and we're seeing a lot more customers who have EV charging in their locations of needing more such a great combination of those new business and recurring.

實際上，紐約是主要開發商之一，多年來一直在關注電動汽車，現在我們能夠在 5 個借款人的一些地點安裝 50 個左右的單位。因此，我們看到那些一直坐在柵欄上的人，我們看到越來越多的客戶在他們的位置進行電動汽車充電，他們需要更多這些新業務和經常性的完美結合。

Got it. And then, this one maybe a little bit more for Brendan. But I was curious, you mentioned in your prepared remarks that Sema will provide a basis by which you can reduce your cost of goods sold, I believe you said by 30 percentage points. Is there a way to sort of break that out a little bit, Brendan, in terms of how much may be coming from labor versus supply chain/procurement? How should we be thinking about what sort of underpins that 30 percentage points?

知道了。然後，這對布倫丹來說可能更多一點。但我很好奇，你在準備好的評論中提到，Sema 將提供一個基礎，你可以通過它來降低你的銷售成本，我相信你說的是 30 個百分點。布倫丹，有沒有辦法稍微打破這一點，就勞動力與供應鏈/採購之間的差異而言？我們應該如何思考這 30 個百分點的基礎是什麼？

Yes. Well, for obvious reasons, we're not going to break it out by dollar amount, but it's a combination of both labor and the manufacturing type of the chargers and being direct. As you imagine, if you look at our current portfolio of chargers without SemaConnect, some of that is -- it's our design. It's full contract manufacturing, meaning the contracts are designed kind of how we want to build and then they build it, right?

是的。好吧，出於顯而易見的原因，我們不會按美元金額細分，但它是勞動力和充電器製造類型的結合，並且是直接的。正如您想像的那樣，如果您查看我們當前不帶 SemaConnect 的充電器組合，其中一些是 - 這是我們的設計。這是完全的合同製造，這意味著合同是按照我們想要的建造方式設計的，然後他們建造它，對嗎？

With SemaConnect, that model flips. It is our design again, however, it's our technicians and everyone is building it from the ground up. They are our employees, they are not contract employees. It's our manufacturing facilities, not contract. We're not selling from one end to the other to create a margin. So all that creates a reduced COGS for us to be able to sell. And then, when we combine those 2 systems together, even on Blink product, that's going to give us the reduced cost.

使用 SemaConnect，該模型發生了翻天覆地的變化。這又是我們的設計，但是，它是我們的技術人員，每個人都在從頭開始構建它。他們是我們的員工，他們不是合同工。這是我們的製造設施，而不是合同。我們不是為了創造利潤而從一端賣到另一端。因此，所有這些都為我們的銷售創造了減少的 COGS。然後，當我們將這兩個系統結合在一起時，即使是在 Blink 產品上，這也會降低我們的成本。

Our next question is coming from Stephen Gengaro with Stifel.

我們的下一個問題來自 Stephen Gengaro 和 Stifel。

2 things for me. The first, when you talk about the deployed and sold units, I think it was like 51,000, can you give us a sense for how many of those are revenue generating assets for you from a service revenue perspective, from a charging perspective?

對我來說有 2 件事。首先，當您談到部署和銷售的設備時，我認為大約是 51,000 個，您能否從服務收入的角度和收費的角度讓我們了解其中有多少是為您創造收入的資產？

Yes, I'll jump in. There is about -- there's quite a few. Obviously, this includes all our networks. I just want to be clear that the 51,000 that includes between our core Blink, the Blue Corner that we acquired, EB as well as SemaConnect. So, a lot of what's acquired through EB and SemaConnect already all networked on their systems. And then -- so probably good -- of the 51,000 probably good 2/3, maybe is on a network -- some sort of a network that we're in the process of combining and that we'll see synergies on that as we move forward through integrations.

是的，我會加入。大約——有很多。顯然，這包括我們所有的網絡。我只想澄清一下，包括我們的核心 Blink、我們收購的 Blue Corner、EB 以及 SemaConnect 之間的 51,000 個。因此，通過 EB 和 SemaConnect 獲得的很多東西已經在他們的系統上聯網了。然後 - 可能很好 - 在 51,000 個可能不錯的 2/3 中，可能是在一個網絡上 - 我們正在合併的某種網絡，我們將看到協同效應通過集成向前發展。

Okay. I'm trying to sort of backfill and trying to figure out sort of how to think about utilization and kind of ultimately what kind of revenue per deployed chargers we can think about on the charging revenue line, right? And I was just sort of trying to see if there's any way to -- any color you could add to that.

好的。我正在嘗試回填並試圖弄清楚如何考慮利用率以及最終我們可以在充電收入線上考慮的每個部署充電器的收入類型，對嗎？我只是想看看有沒有辦法——你可以添加任何顏色。

Well, obviously, there are different business models that we have. And some of the companies that we acquired really sold hardware. And we're going to start introducing using our owned and operating model on some of these companies we acquired. Our owned and operate model has a much more robust potential for revenues than just having a charging station that we sold to a third-party and it's on our network and we get a few dollars a month for it.

嗯，很明顯，我們有不同的商業模式。我們收購的一些公司確實銷售硬件。我們將開始在我們收購的一些公司中引入使用我們擁有和運營的模式。我們擁有和運營的模式比僅僅擁有一個我們出售給第三方並且它在我們的網絡上的充電站具有更大的收入潛力，我們每個月可以獲得幾美元。

So, again, we believe long-term as more and more EVs on the road, utilization kicks up. And as that happens, these charging stations become financially very, very, very profitable. So, as things progress, as we integrate these networks together where we have a very, very nice mix of different products and services. Some of it will be monthly connectivity fees and processing fees and not much on the sale of the energy, similar to charge points model.

因此，我們再次相信，從長遠來看，隨著越來越多的電動汽車上路，利用率會提高。當這種情況發生時，這些充電站在財務上變得非常、非常、非常有利可圖。因此，隨著事情的進展，當我們將這些網絡整合在一起時，我們可以很好地組合不同的產品和服務。其中一些將是每月的連接費和處理費，而不是出售能源的費用，類似於收費點模型。

Again, that's part of what we do as well. But our focus here is really to try to own and operate as many of the charging stations as possible. And I'm sure you've run the models and seen how potentially profitable, especially the Level 2 charger stations can be once they're out in the field. So, as things progress and as this integration takes place, we'll be able to give a lot more visibility on that.

同樣，這也是我們所做的一部分。但我們的重點實際上是嘗試擁有和運營盡可能多的充電站。而且我敢肯定，您已經運行了這些模型，並看到了潛在的盈利能力，尤其是 2 級充電站一旦投入使用就可以帶來收益。因此，隨著事情的進展以及這種整合的發生，我們將能夠提供更多的可見性。

Great. And then, just one other one. You started providing us with sort of the adjusted EBITDA numbers recently, I think it was last quarter or the quarter before. I was just curious, by doing that, you, in some way, suggest to me that, that number is headed towards breakeven/positive territory at some point. And it's a good measure of sort of progress for you as we look forward. Any guidance on sort of when we would see EBITDA get to the breakeven level?

偉大的。然後，只有另外一個。您最近開始向我們提供調整後的 EBITDA 數字，我認為是上個季度或上個季度。我只是好奇，通過這樣做，你以某種方式向我暗示，這個數字在某個時候會走向盈虧平衡/積極領域。在我們期待的過程中，這對您來說是一個很好的衡量標準。關於我們何時會看到 EBITDA 達到盈虧平衡水平的任何指導？

We look at that continuously, obviously where we focus on investing in the business obviously driving top line revenue. And then, obviously as we start going through the integration and synergies with the recent acquisitions, we target and we have a target and a goal. The first is to reduce the EBITDA losses and then we get -- it could be a couple of years out. So -- but we're mindful, we want to be proactive. We will be making a lot of efforts over the next 12 months as we're integrating the acquisitions to really, I like to call it, chop down some of the wood, right? So -- but it's a high priority of all of ours and our initiatives.

我們持續關注這一點，顯然我們專注於投資業務，顯然推動了收入。然後，顯然，當我們開始與最近的收購進行整合和協同作用時，我們的目標是並且我們有一個目標和一個目標。首先是減少 EBITDA 損失，然後我們得到 - 可能需要幾年時間。所以——但我們要注意，我們要積極主動。在接下來的 12 個月裡，我們將做出很多努力，因為我們正在整合收購，我喜歡稱之為，砍掉一些木材，對吧？所以——但這是我們所有人和我們的倡議的高度優先事項。

Great. It seems like a lot of good...

偉大的。好像很多不錯...

I'd like to add to that a little bit. Operating and developing technology in our space is not inexpensive. And having 4 companies being able to share one footprint, one customer service, one back-end, one mobile application, there will be tremendous economies of scale in integrating all of these companies and these networks. A lot of savings, a lot of really good features that we're combining from the different networks. So there's some really interesting and good times ahead of us. And through this all, we are, as Michael mentioned, we are looking to sharpen the pencils and really start focusing on chopping the wood and getting rid of expenses that are unnecessary. And there's a bunch of them now that we have overlapped. So it's really a great opportunity for us.

我想補充一點。在我們的領域內運營和開發技術並不便宜。並且有 4 家公司能夠共享一個足跡、一個客戶服務、一個後端、一個移動應用程序，整合所有這些公司和這些網絡將產生巨大的規模經濟。我們從不同的網絡組合了很多節省，很多非常好的功能。所以在我們面前有一些非常有趣和美好的時光。正如邁克爾所說，通過這一切，我們正在尋求削鉛筆並真正開始專注於砍伐木材並消除不必要的費用。現在我們已經重疊了很多。所以這對我們來說真的是一個很好的機會。

Our next question is coming from Chris Souther with B. Riley.

我們的下一個問題來自 Chris Souther 和 B. Riley。

Given all the moving pieces with EB and half a month of Sema financials, could you give us a sense of what the run rate would have looked like had SemaConnect been in the business for the full quarter? I just want to get a sense of what the revenue run rate from SemaConnect and EB would have looked like on a pro forma basis for revenue and as well as kind of gross margins for that product sales segment? And a better sense of the OpEx and what we should expect going forward after we had those and back out some of those acquisition expenses?

考慮到 EB 的所有動態以及半個月的 Sema 財務狀況，您能否讓我們了解一下如果 SemaConnect 整個季度都在開展業務，運行率會是什麼樣子？我只是想了解 SemaConnect 和 EB 的收入運行率在收入的形式上會是什麼樣子，以及該產品銷售部門的毛利率是多少？以及更好地了解運營支出以及在我們擁有這些並收回一些收購費用之後我們應該期待什麼？

Yes. This is Michael, I'll jump on that. As we put in the deck, you'll see there's a bit of a pro forma in the appendix and where we've called that what the company we would have looked like on a combined basis from the beginning of the year, we would have looked like. I believe the combined revenues for the quarter would have been about $17 million for the quarter and about $32 million and change for the first 6 months. So -- but that doesn't take in consideration, I think, moving forward. So, obviously there's growth anticipated. And so -- but it gives us to give a little bit of a hindsight what 2022 would look like for the first half on a combined basis pro forma.

是的。這是邁克爾，我會跳上去的。正如我們在甲板上介紹的那樣，您會在附錄中看到一些備考，我們將其稱為從年初開始合併的公司的樣子，我們會看起來像。我相信本季度的總收入本季度約為 1700 萬美元，前 6 個月的收入約為 3200 萬美元。所以 - 但這並沒有考慮到，我認為，繼續前進。所以，顯然有增長的預期。所以——但這讓我們在綜合備考的基礎上，讓我們對 2022 年上半年的情況有了一些後見之明。

Perfect. Yes, that's really helpful. Maybe just on the gross margin piece, then given you've talked about SemaConnect having the really strong gross margin profile, I wanted to get a sense of where that would have stood if you could.

完美的。是的，這真的很有幫助。也許只是在毛利率方面，然後鑑於您已經談到 SemaConnect 具有非常強大的毛利率，我想了解如果可以的話，它會處於什麼位置。

We didn't get that granular, to be honest, obviously because some moving parts with synergies and -- but obviously, we look at that as -- I look at as upside from us, from a post acquisition that we would realize going forward.

老實說，我們沒有得到那麼細化，顯然是因為一些具有協同作用的移動部分 - 但顯然，我們認為 - 我認為這對我們來說是有利的，從我們將意識到未來的收購後.

Okay, that's great to hear. And any sense, if you could kind of quantify the revenue opportunity as well as the cost side of upgrading SemaConnect's existing footprint. I'm sure it's early days, you're kind of working through conversations with some of those customers to the [bank] owner model as well as expanding footprints at some of those sites. But just wanted to get a sense of -- how you guys would quantify what that opportunity looks like just with the existing footprint over the next or 3 years or kind of the roadmap there.

好的，很高興聽到。從某種意義上說，如果您可以量化收入機會以及升級 SemaConnect 現有足蹟的成本方面。我敢肯定，現在還為時過早，您正在與其中一些客戶進行對話，以建立 [銀行] 所有者模式，並在其中一些網站上擴大足跡。但只是想了解一下——你們將如何根據未來或 3 年的現有足跡或那裡的路線圖來量化這個機會的樣子。

So, let me jump in and answer this one. So, we are cracking the numbers on that as we speak. So far, they're very promising. And some of you might know we contracted with McKinsey Group to do 2 things: first, the initial synergies analysis between the organizations; and then second, the roadmap to achieving those with definitive numbers and a plan to be implemented to achieve that.

所以，讓我跳進去回答這個問題。因此，在我們發言時，我們正在破解數字。到目前為止，他們很有希望。你們中的一些人可能知道我們與麥肯錫集團簽約做兩件事：第一，組織之間的初步協同效應分析；其次，實現具有確定數字的目標的路線圖以及為實現這一目標而實施的計劃。

We're in the final stages now of validating the numbers and then we're going to kick off the plan. So, as soon as we validate those numbers, we can make them available. But at this point, we need 1 or 2 more weeks to get those (technical difficulty). But the big number is, it's very lucrative both in the revenue enhancement thesis and in the cost avoidance thesis.

我們現在正處於驗證數字的最後階段，然後我們將啟動計劃。因此，一旦我們驗證了這些數字，我們就可以提供它們。但在這一點上，我們還需要 1 或 2 週的時間來獲得這些（技術難度）。但很大的數字是，無論是在增加收入的論文中還是在避免成本的論文中，這都是非常有利可圖的。

Michael, you want to add any clarity to that?

邁克爾，你想澄清一下嗎？

No, I'm fine.

不我沒事。

Okay. And maybe my last one here. Could you give us a sense -- I understand kind of with the large Blink network base, a lot of the acquisitions were just going to restrict product sales. So I want to get a sense of the mix more recently, like this past quarter, even if you could between owner operated, commercial, residential sales of the deployment. It seems like we're getting really good momentum on the product side even before SemaConnect. So, maybe just -- I think you've kind of given a clear like, hey, where long-term you think -- that mix sounds like it should -- you think it will be going, but curious where it is today and kind of the next couple of quarters based on what visibility you do have?

好的。也許我在這裡的最後一個。你能給我們一個感覺嗎——我理解在龐大的 Blink 網絡基礎上，很多收購只是為了限制產品銷售。因此，我想了解最近的混合情況，就像上個季度一樣，即使你可以在業主運營、商業、住宅銷售之間進行部署。看起來我們甚至在 SemaConnect 之前就在產品方面獲得了非常好的勢頭。所以，也許只是 - 我認為你已經明確表示，嘿，你認為長期的 - 這種混合聽起來應該 - 你認為它會發展，但好奇它今天在哪裡根據您的知名度，接下來幾個季度的情況如何？

Brendan?

布倫丹？

Is that one going to me? I'm sorry, I thought Michael, it was about the mix of sales and revenue. Mike, are you...?

那個是給我的嗎？對不起，我想邁克爾，這是關於銷售和收入的混合。邁克，你是……？

Yes, I guess, on the sales, right, side of it. So, obviously you could still see we're generating about 70%, 80% -- 75% of our revenue still coming from the product side of it. But we're still looking across the board looking at what have we contracted, we're still looking at a pretty good even split between owner operated and hardware sales, so -- as we move forward.

是的，我想，在銷售方面，對的，它的一面。所以，顯然你仍然可以看到我們產生了大約 70%、80% - 75% 的收入仍然來自產品方面。但我們仍在全面審視我們簽訂了什麼合同，我們仍在尋找所有者運營和硬件銷售之間的相當好的平衡，所以 - 隨著我們前進。

So, again, it takes a little bit more time, obviously, as the service revenues as you get them deployed and start realizing and as the utilization start to really kick in, that's where we're going to start seeing the -- as we saw, the call to turn towards more towards service revenues as opposed to the product mix, if you will. But the -- so these sales have been pretty mixed -- pretty close to 50-50 on the sales versus owner operated type sales.

因此，顯然，這需要更多的時間，因為隨著服務收入的部署和開始實現以及利用率開始真正發揮作用，這就是我們將開始看到的地方——因為我們看到了，如果你願意的話，呼籲更多地轉向服務收入而不是產品組合。但是 - 所以這些銷售額非常混合 - 銷售與所有者經營類型的銷售相比非常接近 50-50。

Okay. That's helpful. I'll hop in the queue.

好的。這很有幫助。我會插隊。

Our next question is coming from Oliver Huang with Tudor, Pickering, Holt.

我們的下一個問題來自 Oliver Huang 和 Tudor、Pickering、Holt。

First one, just on the compensation and G&A line item. The quarterly increase understandably is coming from growing the business in addition to acquisitions and acquisition-related costs. But I was wondering if there is any incremental color on how we should be thinking about the run rate for each of those line items, especially with the comment of doubling the headcount from the Sema acquisition over, call it, the next 12 months or so?

第一個，只是關於薪酬和 G&A 行項目。可以理解，季度增長來自業務增長以及收購和收購相關成本。但我想知道我們應該如何考慮每個項目的運行率是否有任何增量顏色，特別是在未來 12 個月左右將 Sema 收購的員工人數翻倍的評論中?

Well, obviously we'll see that accelerate a little bit, right, not to the tune -- remember, it's going to be relative to the acquisition side from the SemaConnect standpoint. So we'll be able to give a bit more color coming on later this month to that because we're actually going to be filing the pro forma financials with SemaConnect towards the end of the month. So that is from an acquisition standpoint. So we'll be able to provide a bit more color on some of that. But obviously, there will be an increase in the salaries, but that's not going to account consider any synergies that, as Brendan mentioned, that's going to be developed, that's we're going to work through, as well as the scale that we're going to have that will relate to the increased volume that we anticipate.

好吧，顯然我們會看到加速一點，對，不是順其自然——記住，從 SemaConnect 的角度來看，這將與收購方面有關。因此，我們將能夠在本月晚些時候對此進行更多說明，因為我們實際上將在本月底向 SemaConnect 提交備考財務報表。所以這是從收購的角度來看。所以我們將能夠為其中的一些提供更多的顏色。但很明顯，工資會增加，但這並沒有考慮到任何協同效應，正如 Brendan 提到的那樣，這將被開發，這就是我們將要解決的問題，以及我們的規模。這將與我們預期的數量增加有關。

Okay. And for a second question, I was just wondering on the manufacturing facility, is there a time line in terms of being able to expand that facility from the 10,000 to 50,000 units? And in terms of going beyond that, is there any sort of rule of thumb in terms of how we should be thinking about costs and how long such a build out would kind of take?

好的。第二個問題，我只是想知道製造設施，是否有時間線能夠將該設施從 10,000 件擴大到 50,000 件？除此之外，在我們應該如何考慮成本以及這種擴建需要多長時間方面，是否有任何經驗法則？

So, the time line is being established now, so we're not ready for prime time, but we'll have it within the next 2 or 3 weeks. The cost is low. So, first, when we're going up over a period of time getting up to, let's call it, the 40,000 unit mark, and that's coming out of our facility in India. And our facility in India is basically manufacturing the parts and the facility in Bowie is assembling the chargers is to way to look at it.

所以，現在正在確定時間線，所以我們還沒有準備好迎接黃金時段，但我們會在接下來的 2 或 3 週內完成。成本很低。所以，首先，當我們在一段時間內上升時，我們稱之為 40,000 單位大關，這來自我們在印度的工廠。我們在印度的工廠基本上是在製造零件，而在鮑伊的工廠正在組裝充電器。

So, the first aspect of that was going to be able to do with just shift -- added shifts from going from 1 to 2 to 3 shifts. Then the second stage of that is cruising the line capacity out of our building 3 and 4 there in India and then increasing the capacity out of SemaConnect in Bowie by adding additional shifts there as well.

因此，第一個方面將能夠與班次有關——增加從 1 班到 2 班到 3 班的班次。然後第二階段是將我們在印度的 3 號樓和 4 號樓的線路容量巡遊，然後通過在那裡增加額外的班次來增加鮑伊的 SemaConnect 的容量。

So, the first stage, adding shifts up capacity. Second stage, add some tables and tooling. In the original estimate, the tooling and table adds are very low in comparison. So we're not looking at a massive CapEx to get it expanded out. We're looking at additional shifts primarily and some minor upgrades in tooling and equipment in order to get there. We'll have more definitive data out in the next 2 to 3 weeks as we finalize the synergy plan.

所以，第一階段，增加產能。第二階段，添加一些表格和工具。在最初的估計中，相比而言，工具和工作台的添加量非常低。因此，我們並沒有考慮通過大規模的資本支出來擴展它。我們主要關注額外的轉變以及工具和設備的一些小升級，以實現目標。隨著我們最終確定協同計劃，我們將在未來 2 到 3 週內獲得更明確的數據。

Okay, perfect. That's helpful.

好的，完美。這很有幫助。

Our next question is coming from Noel Parks with Tuohy Brothers.

我們的下一個問題來自 Noel Parks 和 Tuohy Brothers。

I have a few things I wanted to run by you. I guess, sort of as just a reality check, could you sort of ballpark how many models, in other words, ones that you plan to either have going live or are going to continue in production, will the combined companies have that they'll be selling? I imagine there's going to be some rationalization, some overlaps where you will favor one company's existing model from another.

我有幾件事想由你處理。我想，有點像現實檢查，你能大致了解一下有多少模型，換句話說，你計劃上線或將繼續生產的模型，合併後的公司會有多少模型？賣？我想會有一些合理化，一些重疊，你會喜歡一家公司的現有模式而不是另一家公司。

Yes, sure. I can touch on it briefly. So, the product -- or what we're calling, the product rationalization study, it's in its second phase. So, in the first phase, we reviewed all the products. We looked at COGS, production capacity, acceptance in the market, all the reveling data you want to look at. Now we're going to go to the second phase is that is, okay, what do we move forward with and what we dealt. There is some favorites identified within that, but also there is nuances. And we mentioned earlier, the Series 8 charger, which has a credit card reader already built into it, which is unique, because it's not a slap on version of a credit card. That is going to be Blink SemaConnect combined together charger for sale in California for all publicly accessible places, because in 2023, beginning in January, that's the only charging you can install there as a result of the California mandate on that topic.

是的，當然。我可以簡單地談一下。所以，產品——或者我們所說的，產品合理化研究，它處於第二階段。因此，在第一階段，我們審查了所有產品。我們查看了 COGS、生產能力、市場接受度，以及所有您想查看的令人陶醉的數據。現在我們要進入第二階段，好的，我們要推進什麼以及我們處理了什麼。其中有一些最喜歡的，但也有細微差別。我們之前提到過，Series 8 充電器，它已經內置了一個信用卡讀卡器，這是獨一無二的，因為它不是信用卡的一巴掌。那將是 Blink SemaConnect 將充電器組合在一起，在加利福尼亞州為所有可公開訪問的地方銷售，因為從 2023 年開始，從 1 月開始，由於加利福尼亞州對該主題的授權，這是您可以在那里安裝的唯一充電裝置。

Then we're going to continue to rationalize that portfolio out and we're going to combine together. Now down the road in the future, we'll talk about the different changes to look and feel and everything. But we got about a week or less in that rationalization study, it's along with all the other synergy products we're going through. First review look great. And the idea is on making sure we can get the right amount of the product, the highest quality product at the right cost of goods sold out to the public. And as you know, we're going to be hesitant at first to shutting off any one of our producers of chargers, because chargers are in demand right now. Most manufacturers cannot deliver upon the orders that they have today. So there'll be a degree of running parallel to make sure we can fulfill the backlog of orders we have.

然後我們將繼續合理化該投資組合，我們將合併在一起。現在在未來的道路上，我們將討論外觀和感覺的不同變化以及一切。但是我們在合理化研究中得到了大約一周或更短的時間，它與我們正在經歷的所有其他協同產品一起。第一次評論看起來很棒。我們的想法是確保我們能夠以合適的成本向公眾出售合適數量的產品、最優質的產品。如您所知，我們一開始會猶豫是否要關閉我們的任何一家充電器生產商，因為現在對充電器的需求很大。大多數製造商無法按照他們今天的訂單交貨。所以會有一定程度的並行運行，以確保我們能夠完成我們擁有的積壓訂單。

I do want to add to that just a bit. This is Michael Farkas. It's very important for us not only to trim our product line to make sure it satisfies our customer base, but really, what we call, Gen 3. And that's really the combined integration of Sema's strengths and Blink's strengths and having that hardware fill that role. So while we're already on Gen 2 and we have amazing equipment across the board and we do look towards the future, and that future is going to be where we're going to receive really just tremendous amounts of benefit from the integration of the companies.

我確實想補充一點。這是邁克爾法卡斯。對我們來說非常重要的是，不僅要削減我們的產品線以確保它滿足我們的客戶群，而且實際上，我們稱之為 Gen 3。這確實是 Sema 的優勢和 Blink 的優勢的結合，並讓硬件來填補這個角色.因此，雖然我們已經在 Gen 2 上，並且我們擁有全面的出色設備，但我們確實展望未來，而未來將是我們將從集成中獲得巨大收益的地方公司。

So, there is tremendous savings today, great product line. And as Brendan mentioned, the requirements in California is not only California to have a credit card swipe on those chargers. There are many other states that follow exactly what California does. One of the attractive things about Sema was the fact that they had a product readily available to meet those needs in California. And there are very, very few, if any, other of our competitors that can fulfill those requirements. So we have the major, major advantage from most of our competitors in that regard.

所以，今天有巨大的節省，很棒的產品線。正如布倫丹所提到的，加州的要求不僅是加州要在這些充電器上刷信用卡。還有許多其他州完全遵循加利福尼亞的做法。 Sema 最吸引人的地方之一是他們有一種現成的產品可以滿足加利福尼亞的這些需求。我們的其他競爭對手很少（如果有的話）可以滿足這些要求。因此，在這方面，我們擁有大多數競爭對手的主要優勢。

I wasn't aware of that. And I think...

我沒有意識到這一點。而且我認為...

It's interesting -- it's very interesting because people look at the transaction that we had with Sema, and the purchase price was $200 million. But people aren't really familiar with the fact that one of the largest investment banks in the world was going to do a $2 billion pre-money deal on Sema when the markets were at its height. So I agree with you. Those were very, very frothy valuations both the bottom-line. When you look at how we purchase companies in the past, we've always bought them for a very good pricing.

這很有趣——這很有趣，因為人們查看了我們與 Sema 的交易，購買價格為 2 億美元。但人們並不真正熟悉這樣一個事實，即當市場處於鼎盛時期時，世界上最大的投資銀行之一將在 Sema 上進行 20 億美元的前期交易。所以我同意你的看法。這些都是非常非常泡沫的估值，無論是底線。當您查看過去我們如何購買公司時，我們總是以非常優惠的價格購買它們。

And we really look at the deal. Although again, the valuations of the past are not the valuations of today kind of being able to buy a company for 10% of the value that a Goldman Sachs of the world was willing to offer them. And then, we were able to take advantage of market timing as well as all the amazing things that Sema brings. It's another transaction that the Street today just doesn't really fully value. Very, very similar to the acquisition we had in Europe, standalone on its -- if it's standing on its own 2 feet, the market would value that company at $1 billion and change. But being a part of Blink, we still have not received that value. Really look at us according to some of our competitors EVgo and ChargePoint and they have many multiples of our market cap. But we own and operate which some of them don't, and we have thousands or tens of thousands of charging stations on the ground and they're 10% of our size or maybe 2 or 3 times our market cap.

我們真的在看這筆交易。雖然同樣，過去的估值不像今天的估值那樣能夠以世界高盛願意提供的價值的 10% 收購一家公司。然後，我們能夠利用市場時機以及 Sema 帶來的所有令人驚奇的東西。這是今天華爾街並沒有真正充分重視的另一筆交易。非常非常類似於我們在歐洲進行的收購，獨立於它的 - 如果它站在自己的 2 英尺上，市場將對這家公司的估值為 10 億美元並發生變化。但是作為 Blink 的一部分，我們仍然沒有收到那個價值。根據我們的一些競爭對手 EVgo 和 ChargePoint 來看看我們，他們的市值是我們的許多倍。但是我們擁有和運營其中一些人沒有的東西，我們在地面上有成千上萬個充電站，它們的規模是我們的 10%，或者是我們市值的 2 到 3 倍。

So, again, I think when the Street really fully realizes the acquisitions that we've made and what their independent and individual values (technical difficulty) them together with Blink, I think that there'll be a repricing and (technical difficulty).

因此，我再次認為，當華爾街真正完全意識到我們所做的收購以及他們與 Blink 一起的獨立和個人價值（技術難度）時，我認為將會有重新定價和（技術難度）。

Right. I absolutely agree that there is definitely a disconnect there. I just have one other thing I wanted to ask sort of about just on the ground with the current Sema business. Can you just talk a little bit about what logistics and maybe if you can even speak a bit to the cost of their sort of maintenance, repair, module replacement or equipment upgrade cycles, like I'm just curious, are there expenses in those lines pretty similar analogous to yours, different in some ways I know because of regulation...?

正確的。我絕對同意那里肯定存在脫節。我還有另一件事想問一下，就目前的 Sema 業務而言。你能談談物流嗎與您的非常相似，在某些方面我知道由於監管而有所不同...？

I would say, very different. And the reason why is, as an owner and operator, you have a different philosophy in developing hardware. Our competitors, which none of them own and operate the charging infrastructure after it's sold, they build equipment with upgrades built in. That's their model, I mean like a cell phone. We look at our equipment like a hot water heater or refrigerator and we want it to last many, many, many years without upgrade cycles. And if there has to be an upgrade cycle, we don't want to have to rip out the entire machine. We want to be able to use that machine and maybe change the motive or changing RFID part of those things change.

我會說，非常不同。原因是，作為所有者和運營商，您在開發硬件方面有不同的理念。我們的競爭對手，在充電基礎設施售出後，他們都沒有擁有和運營充電基礎設施，他們製造內置升級的設備。那是他們的模型，我的意思是像手機一樣。我們將我們的設備視為熱水器或冰箱，我們希望它能夠持續很多很多年而無需升級週期。如果必須有一個升級週期，我們不想拆掉整台機器。我們希望能夠使用那台機器，並可能改變動機或改變這些事情的 RFID 部分。

Obsolescence is extremely important to us. Our competitors, it is to them as well. But what their philosophy is, they want the unit to become obsolete and we don't. So, our business is to have those units in the field as long as possible, because we're going to generate the money off of the sale of the electricity through those charging stations. So, there is a reason why General Motors selected our hardware to be in their dealerships. There is a reason why Subaru did. There is a reason why Audi did. These are industry veterans that literally benchmark all of this hardware against each other. This is not just some property owner that doesn't know what they're doing, immediately rip these things apart and there's a reason why some of the biggest investors in EV are using our charging stations.

過時對我們來說非常重要。我們的競爭對手，對他們來說也是如此。但他們的理念是，他們希望該單位過時，而我們不希望。因此，我們的業務是盡可能長時間地在現場使用這些設備，因為我們將通過這些充電站銷售電力來賺錢。因此，通用汽車選擇我們的硬件作為經銷商是有原因的。斯巴魯這樣做是有原因的。奧迪這樣做是有原因的。這些行業資深人士從字面上對所有這些硬件進行了相互基準測試。這不僅僅是一些不知道自己在做什麼的業主，立即將這些東西撕成碎片，這就是為什麼一些最大的電動汽車投資者正在使用我們的充電站的原因。

And this is not just blindly. This is something that they went through by benchmarking, by putting one unit against each other. There is a reason why a Blink is getting chosen, it's because of our philosophy and how we build the hardware. We're just an owner and operator and there is no others that do what we do. If you look at any of the other owner operators, you're looking at EVgo, they don't make their own hardware. They don't have their own network. You look at Electrify America, it's the same thing. So, it's just a different philosophy. So, again, our hardware is lasting longer because it's designed to do that. Our competitors' hardware is designed to become obsolete after a couple of cycles, so you have to buy new hardware. You follow?

這不僅僅是盲目的。這是他們通過基準測試、將一個單元相互對立而經歷的事情。選擇 Blink 是有原因的，這是因為我們的理念以及我們如何構建硬件。我們只是一個所有者和經營者，沒有其他人可以做我們所做的事情。如果您查看任何其他所有者運營商，您正在查看 EVgo，他們不製造自己的硬件。他們沒有自己的網絡。你看看 Electrify America，它是一回事。所以，這只是一種不同的哲學。所以，再一次，我們的硬件壽命更長，因為它的設計目的是為了做到這一點。我們競爭對手的硬件設計為在幾個週期後就會過時，因此您必須購買新硬件。你跟著？

Absolutely, absolutely. I do just want to ask just a little bit tied to that. Given that you're going to be seeing ultimately about a 30% lower cost with the manufacturing integrated through Sema, I'm just wondering, does that cost differential have any impact on sort of maybe your regional growth in different areas of the country? I'm just thinking of EV adoption and EV charging trends that have sort of correlated in some places with high power cost markets versus low power cost markets just the speed of deployment. I was wondering if your big cost headings is going to change that and have for you any?

絕對，絕對。我只是想問一點與此有關的問題。鑑於您最終將看到通過 Sema 集成製造的成本降低 30%，我只是想知道，這種成本差異是否會對您在該國不同地區的區域增長產生任何影響？我只是在考慮電動汽車的採用和電動汽車充電趨勢，這些趨勢在某些地方具有高電力成本市場與低電力成本市場的關係，只是部署速度。我想知道你的大成本標題是否會改變這一點並為你準備好？

Ultimately when you see what's going on globally, from a legislation perspective, the world is going EV. You see what's going on with the Biden administration. You see what's going on in China, it's all over Europe. It's not necessarily about the cost of the fuel, which is electricity because it just happens to be a hell of a lot cheaper than wherever you're going to go with using gasoline. So, it's not necessary about the cost of the power in different areas right now. There is a concerted effort by every single OEM globally to manufacture EVs, even those holdouts like Toyota and Hyundai with their portfolio of plug-ins now. There are no more holdouts. It's every single major brand and those are committing to stopping making internal combustion engine cars within some of the next 5 and 10, 15 years.

最終，當你看到全球正在發生的事情時，從立法的角度來看，世界正在走向電動汽車。你看拜登政府的情況。你看在中國發生了什麼，它遍布歐洲。這不一定與燃料的成本有關，即電力，因為它恰好比使用汽油的地方便宜得多。所以，現在不同地區的電力成本是沒有必要的。全球每一個原始設備製造商都在齊心協力生產電動汽車，即使是像豐田和現代這樣的固執己見的汽車製造商，他們現在也推出了插電式產品組合。沒有更多的堅持。每個主要品牌都承諾在未來 5 年、10 年、15 年內停止生產內燃機汽車。

So, this is no longer about choice. I mean, yes, you have the choice of what car to buy. You can still buy a Ford or Mercedes or a BMW, but really the power source for mobility has been chosen and its EV. And the only [shortcoming] that EVs have is what we do, which is making sure that there is a fuel supply for them. And it's us and other companies in the space. There is a whole switchover of mobility that's taking place right in front of our eyes. And you're just going to see all of that investment all that capital all that revenue that was generated from Blink automobiles over the past going from those legacy companies to those that are now supply (technical difficulty) fully vertically integrated EV charging company, that can provoke (technical difficulty).

所以，這不再是關於選擇的問題。我的意思是，是的，你可以選擇買什麼車。您仍然可以購買福特、梅賽德斯或寶馬，但實際上已經選擇了移動電源及其電動汽車。電動汽車唯一的 [缺點] 是我們所做的，即確保為它們提供燃料供應。這是我們和該領域的其他公司。移動性的全面轉換就在我們眼前發生。而且您將看到所有這些投資所有資本過去從 Blink 汽車產生的所有收入都從那些傳統公司轉移到現在供應（技術難度）完全垂直整合的電動汽車充電公司，即可以招惹（技術難度）。

As we mentioned earlier, we have owners that want to own everything from A to Z. They wanted a car, they wanted to make money with additional revenue streams. We have other property owners that literally just want to provide for the parking space, we handle everything from A to Z, they make no capital expenditure whatsoever on their park and wish to have a revenue share model with them. And we have every single different [point of methodology] in between.

正如我們之前提到的，我們的車主想要擁有從 A 到 Z 的所有東西。他們想要一輛車，他們想要通過額外的收入流來賺錢。我們還有其他業主只是想提供停車位，我們處理從頭到尾的所有事情，他們在他們的公園上沒有任何資本支出，並希望與他們建立收入分成模式。我們之間有每一個不同的[方法論點]。

It really gives us an advantage over our competitors, especially with the theme that we've built. All these calls in the past, we were always taken to task about not spending enough on R&D. We weren't big on technology. We were big on just getting a footprint, big on building our base of locations, and our model was fund upon. But now, look at the base of locations we have and all the property owners we have. And now the technology that we've developed as we've built an amazing tech team both here and in India. And now, we're leaders in that space, look at our equipment comparative, again our competitors, which speaks for itself.

它確實使我們比競爭對手更有優勢，尤其是在我們建立的主題方面。過去所有這些電話，我們總是被要求在研發上投入不足。我們對技術並不感興趣。我們很想獲得一個足跡，很想建立我們的基地，我們的模型得到了資助。但是現在，看看我們擁有的位置基礎和我們擁有的所有業主。現在，我們開發的技術是我們在這里和印度建立了一支了不起的技術團隊。現在，我們是該領域的領導者，看看我們的設備比較，再看看我們的競爭對手，這不言而喻。

Great.

偉大的。

Ladies and gentlemen, we have time for one more question from Sameer Joshi with H.C. Wainwright.

女士們先生們，我們有時間再向 H.C. 的 Sameer Joshi 提出一個問題。溫賴特。

Just a quick one actually on the products that have been launched or are in the process of being launched. Would the SemaConnect manufacturing capability be able to manufacture those, the MQ 200, the Vision IQ, the Series 8 and the HQ 200?

快速了解一下已經推出或正在推出的產品。 SemaConnect 製造能力是否能夠製造 MQ 200、Vision IQ、Series 8 和 HQ 200？

So, the current plan for the products listed right there, let me address the HQ. The HQ is following its current manufacturing trajectory right now. As we get through the synergy study, we could see a transition to being produced out of the Indian facility. Then the same thing with the MQ is following that trajectory. Now, the MQ is a very well received charger in the market today with a very good COGS compared to other competitive fleet charges in the market, also with the new state-of-the-art software added to that for fleet management on that. So, as we talked about earlier, you're going to see some products that may, and then some that may not. The MQ is one that we may maintain the current course.

所以，就在那裡列出的產品的當前計劃，讓我向總部致辭。總部目前正在遵循其當前的製造軌跡。當我們完成協同效應研究時，我們可以看到向印度工廠生產的過渡。然後與 MQ 相同的事情就是遵循這條軌跡。現在，MQ 是當今市場上非常受歡迎的充電器，與市場上其他有競爭力的車隊收費相比，它的 COGS 非常好，而且還添加了用於車隊管理的最先進的新軟件。所以，正如我們之前談到的，你會看到一些可能的產品，然後一些可能沒有的產品。 MQ 是我們可以保持當前課程的一種。

The Vision is in final design now. And as we finish the design of the Vision, and we have a new concept that we're working through and looking at. We'll determine the manufacturing facility for that. And again, we're going to look for the best COGS we can get into the market where it's highly acceptable. We're going to keep in mind Buy in American qualifications because those chargers do qualify, the Vision type charger. So all of that is going to be taken into account. So I don't want to tip the hand one way another until we finish the study. But I wanted to give you a flavor for, you got to follow each individual product and some might have a different plan than others.

Vision 現已進入最終設計階段。隨著我們完成願景的設計，我們有了一個正在研究和研究的新概念。我們將為此確定製造設施。再一次，我們將尋找我們可以進入市場的最佳 COGS，它是高度可接受的。我們將牢記購買美國資格，因為這些充電器確實符合資格，即 Vision 型充電器。因此，所有這些都將被考慮在內。因此，在我們完成研究之前，我不想向另一邊傾斜。但我想給你一個味道，你必須遵循每個單獨的產品，有些可能有與其他不同的計劃。

Got it. And actually just one more. Are you seeing -- or looking at your existing customer base, do you have a concentration of a particular type of customer and/or a particular type of product that is being adopted more than others?

知道了。實際上只是多了一個。您是否看到 - 或查看您現有的客戶群，您是否集中了特定類型的客戶和/或特定類型的產品，並且比其他人更容易採用？

Well, I guess if you look at -- and this is factual. If you look at the combined portfolio, the chargers that are being focused on are the higher power AC chargers for both commercial and public use. Those are the volume players for both companies out there. Both of them can go up to 19.2kW on there. The new emerging space that is now going to start to see higher volume is fleet charging and specific L2 fleet chargers that are designed to be economical and cost effective, because in the fleet situation, the customers typically own their equipment or go into some sort of charging as a service model. They're the 2 dominant models that are in the fleet space.

好吧，我想如果你看一下 - 這是事實。如果您查看組合產品組合，則重點關注的充電器是用於商業和公共用途的更高功率交流充電器。這些是兩家公司的量產者。它們都可以在那里達到19.2kW。現在將開始看到更高容量的新興領域是車隊充電和特定的 L2 車隊充電器，這些充電器旨在經濟且具有成本效益，因為在車隊情況下，客戶通常擁有他們的設備或進入某種形式收費即服務模式。它們是艦隊空間中的兩種主要模型。

So those are picking up in volume, but it's still not seeing the same level as you're going to see for chargers at library, chargers in parking lots, chargers in multifamily dwellings. Now, when we look at what we're going to put in multifamily dwellings, again, that's the least penetrated market in the United States. So, like fleet, we're going to see a big increase in that segment as well. And that's not always the 19.2, sometime it is. So look for an increase there. But right now, it's the 19.2, it's the IQ 200 and the similar complementing charger on the SemaConnect side. Those are the volume players.

所以它們的數量正在增加，但它仍然沒有看到你將看到的圖書館充電器、停車場充電器、多戶住宅充電器的水平。現在，當我們看看我們將在多戶住宅中投入什麼時，這又是美國滲透率最低的市場。因此，就像車隊一樣，我們也將看到該細分市場的大幅增長。這並不總是 19.2，有時是。所以在那裡尋找增加。但現在，它是 19.2、IQ 200 和 SemaConnect 端的類似補充充電器。那些是音量播放器。

I'll take my other questions offline.

我將離線處理我的其他問題。

Ladies and gentlemen, this concludes our Q&A session today. We would like to thank you for your interest and participation, and you may disconnect your lines at this time. Thank you.

女士們，先生們，今天的問答環節到此結束。感謝您的關注和參與，此時您可以斷開線路。謝謝你。