Blink Charging Co (BLNK) 2022 Q4 法說會逐字稿

Greetings, and welcome to the Blink Charging Company Fourth Quarter and Year End 2022 Earnings Call. (Operator Instructions)

您好，歡迎來到 Blink Charging Company 2022 年第四季度和年底財報電話會議。 （操作員說明）

I will now turn the conference over to your host, Vitalie Stelea, Vice President of Investor Relations. Sir, please go ahead.

我現在將會議轉交給你的主持人，投資者關係副總裁 Vitalie Stelea。先生，請繼續。

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

謝謝你，阿里。歡迎來到 Blink 的 2022 年第四季度財報電話會議。在今天的電話會議上，我們有創始人兼首席執行官 Michael Farkas；布倫丹·瓊斯，總裁；和首席財務官 Michael Rama。

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 may find the deck, along with the rest of our earnings materials and other important content on Blink's Investor Relations website.

今天的討論將包括非 GAAP 參考資料。這些與我們收益平台附錄中最具可比性的美國公認會計原則指標相一致。您可以在 Blink 的投資者關係網站上找到該平台以及我們的其他收益材料和其他重要內容。

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 defer are included on Page 2 of the fourth quarter 2022 earnings deck. Unless otherwise noted, all comparisons are year over year.

今天的討論還可能包括有關我們預期的前瞻性陳述。實際結果可能與所述結果不同。可能導致實際結果推遲的最重要因素包含在 2022 年第四季度財報的第 2 頁。除非另有說明，否則所有比較均為同比。

Regarding the Investor Relations calendar, Blink Charging will participate in the ROTH MKM Investor Conference on the 14th of March and the JPMorgan Energy Conference on the 21st of June in New York City. Please follow our announcements for additional investor events in the future.

關於投資者關係日曆，Blink Charging 將參加 3 月 14 日在紐約市舉行的 ROTH MKM 投資者會議和 6 月 21 日在紐約市舉行的摩根大通能源會議。請關注我們的公告，了解未來的其他投資者活動。

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. Before I dive into our record financial results for the year, I would like to reflect on 2022, which was a transformational year for the EV industry and even more so for Blink. Industry wise, we saw a record year for electric vehicle sales globally and this trend is only poised to accelerate based on consumer preferences and strong governmental incentives. Electric vehicles are becoming more commonplace on our roads and highways as global EV sales grew by 68% year over year with EVs achieving around 10% market share for the very first time, and the vast majority of consumers who try an EV never go back to an internal combustion engine vehicle again. In fact, many OEMs are going electric with their mainstream offerings and making them more affordable in order to achieve scale, which will ultimately lead to price parity with their internal combustion engine offerings.

大家下午好。感謝您加入我們。在深入探討我們今年創紀錄的財務業績之前，我想回顧一下 2022 年，這是電動汽車行業轉型的一年，對 Blink 來說更是如此。從行業角度來看，我們見證了全球電動汽車銷量創歷史新高的一年，而且這一趨勢只會根據消費者偏好和強有力的政府激勵措施而加速。電動汽車在我們的道路和高速公路上變得越來越普遍，因為全球電動汽車銷量同比增長 68%，電動汽車的市場份額首次達到 10% 左右，而且絕大多數嘗試電動汽車的消費者再也沒有回頭又是一輛內燃機汽車。事實上，許多原始設備製造商正在將他們的主流產品轉向電動化，並使它們更實惠，以實現規模化，這最終將導致與內燃機產品的價格平價。

Just think of the impact this will have on societies and the environment in the next 10 to 15 years. Mobility is being revolutionized in a way that has only happened once before, when people went from horses and carriages to self-propelled vehicles. This shift to electric vehicles will not only change the needs in terms of how we refuel, but also puts in place the need for new infrastructure required to service and maintain these vehicles as EVs become the dominant means of transportation.

想想這將在未來 10 到 15 年內對社會和環境產生的影響。流動性正在以一種以前只發生過一次的方式發生革命性變化，當時人們從馬和馬車轉向自行式車輛。這種向電動汽車的轉變不僅會改變我們在加油方式方面的需求，而且隨著電動汽車成為主要交通工具，還將需要新的基礎設施來維修和維護這些車輛。

As for Blink, 2022 was truly monumental. Not only did we increase our revenue by almost threefold during 2022 when compared to 2021, we fundamentally changed what Blink represents to the EV charging industry and our position around the world. Slide 4 shows our capabilities as the only fully vertically integrated charging company in the United States and among only a few vertically integrated charging providers globally. Our ability to design and manufacture our equipment and ownership of our network is a competitive strength, particularly when paired with our flexible business models as shown on Slide 5.

至於 Blink，2022 年確實具有里程碑意義。與 2021 年相比，我們不僅在 2022 年的收入增長了近三倍，而且從根本上改變了 Blink 在電動汽車充電行業中的地位以及我們在全球的地位。幻燈片 4 展示了我們作為美國唯一一家完全垂直整合的充電公司以及全球少數幾家垂直整合充電供應商的能力。我們設計和製造設備的能力以及我們網絡的所有權是一種競爭優勢，尤其是與幻燈片 5 所示的我們靈活的商業模式相結合時。

With our variety of ownership models, which range from simple network subscription to host owned, hybrid or Blink owned and operated, we are intensely focused on consistently delivering excellent products and services with an unparalleled customer experience. Having control over the engineering, design, and manufacturing of our products and software enables us to efficiently scale the business while at the same time delivering superior products and customer service.

憑藉我們的各種所有權模式，從簡單的網絡訂閱到主機擁有、混合或 Blink 擁有和運營，我們非常專注於始終如一地提供具有無與倫比的客戶體驗的卓越產品和服務。控制我們產品和軟件的工程、設計和製造使我們能夠有效地擴展業務，同時提供卓越的產品和客戶服務。

As a 14-year veteran of the EV charging industry, we have the expertise to identify and meet customer needs and design our best-in-class hardware and software offerings to exceed customer expectations. In essence, we now control our destiny while leveraging scale and know how to generate some of the highest gross margins in the industry today.

作為 EV 充電行業 14 年的資深人士，我們擁有識別和滿足客戶需求以及設計一流硬件和軟件產品以超越客戶期望的專業知識。從本質上講，我們現在在利用規模的同時控制自己的命運，並且知道如何產生當今行業中最高的毛利率。

As for our financial results, you can see on Slide 6 that our fourth quarter revenue grew 184% year over year to $22.6 million and our full-year 2022 revenue grew 192% to $61.1 million compared to only $20.9 million last year in 2021. Our growth significantly outpaces the industry, we are second to none, and it is a testament to the strength of our experienced team, our strategy, and our products and service offerings.

至於我們的財務業績，您可以在幻燈片 6 上看到，我們第四季度的收入同比增長 184% 至 2260 萬美元，我們的 2022 年全年收入增長 192% 至 6110 萬美元，而去年 2021 年僅為 2090 萬美元。我們的增長顯著超過行業，我們首屈一指，這證明了我們經驗豐富的團隊、我們的戰略以及我們的產品和服務產品的實力。

Our service revenue grew by 213% in Q4 '22 to $5.7 million compared to $1.8 million in Q4 of '21. And importantly, our network fees grew to $2.3 million in Q4 '22. That is an increase of 827% when compared with the same quarter last year. I repeat, 827%. And at very healthy gross margins.

我們的服務收入在 22 年第四季度增長了 213%，達到 570 萬美元，而 21 年第四季度為 180 萬美元。重要的是，我們的網絡費用在 22 年第四季度增長到 230 萬美元。與去年同期相比，增長了 827%。我再說一遍，827%。而且毛利率非常健康。

Looking at earnings performance, adjusted EBITDA loss for the fourth quarter of 2022 was $14.8 million, which is a sequential improvement of $3 million when compared with quarter 3 of 2022, which was $17.6 million. Adjusted EPS for the fourth quarter of 2022 was a loss of $0.41 compared to adjusted EPS loss of $0.47 in the third quarter of 2022. Our number of stations contracted, sold, or deployed grew to 66,478 units, an increase of 105% when compared to the prior year of 2021. Our growth in network fees and charging stations is related in part to our strategic acquisitions of SemaConnect and Electric Blue in 2022, reflecting the strength of adding these complementary businesses to the Blink family.

從收益表現來看，2022 年第四季度調整後的 EBITDA 虧損為 1,480 萬美元，與 2022 年第三季度的 1,760 萬美元相比，環比減少了 300 萬美元。 2022 年第四季度調整後每股收益虧損 0.41 美元，而 2022 年第三季度調整後每股收益虧損 0.47 美元。我們簽約、銷售或部署的加油站數量增至 66,478 個，同比增長 105% 2021 年的前一年。我們在網絡費用和充電站方面的增長部分與我們在 2022 年對 SemaConnect 和 Electric Blue 的戰略收購有關，反映了將這些互補業務添加到 Blink 家族的實力。

And subsequent to year end, on February 9th, we closed an oversubscribed registered public offering of common stock for gross proceeds of approximately $100 million. The newly-raised funding will go towards running the business and strategically investing in complementary opportunities. We expect these funds to take us well into 2024. Also in January, we exhibited at CES in Las Vegas, where we unveiled 5 new charging products for a wide variety of customers here in the U.S. and also for customers in Europe, Latin America, and Southeast Asia. India, for an example, is a market where we expect strong growth in electrification of both 2- and 3-wheeled vehicles, and we have a very, very special offering for those compact EVs.

年底之後，即 2 月 9 日，我們結束了超額認購的普通股註冊公開發行，募集資金總額約為 1 億美元。新籌集的資金將用於經營業務和戰略投資互補機會。我們預計這些資金將帶我們順利進入 2024 年。同樣在 1 月，我們在拉斯維加斯的 CES 上展出，在那裡我們為美國這裡的廣大客戶以及歐洲、拉丁美洲、和東南亞。例如，在印度這個市場，我們預計 2 輪和 3 輪車輛的電氣化將強勁增長，我們為這些緊湊型電動汽車提供非常非常特別的產品。

2022 was a year of tremendous progress for Blink. This growth was enabled in large part by the acquisitions we closed in 2021 and 2022, as shown on Slide 7. To recap our timeline of recent acquisitions, we acquired Blue Corner in May of 2021, adding over 7,000 charging points and a strong European network. This acquisition really opened a window into the lucrative European market for us. Since completing this acquisition, we have added nearly 5,000 or 70% more charging ports to the existing Blue Corner network and as a result, the Q4 2022 revenue for Blue corner grew nearly 50% and it's trending very strongly.

2022 年是 Blink 取得巨大進步的一年。這種增長在很大程度上得益於我們在 2021 年和 2022 年完成的收購，如幻燈片 7 所示。為了回顧我們近期收購的時間表，我們在 2021 年 5 月收購了 Blue Corner，增加了 7,000 多個充電點和強大的歐洲網絡.這次收購確實為我們打開了進入利潤豐厚的歐洲市場的窗口。自完成此次收購以來，我們為現有的 Blue Corner 網絡增加了近 5,000 個或 70% 以上的充電端口，因此，Blue corner 2022 年第四季度的收入增長了近 50%，而且趨勢非常強勁。

Adding on to our growth in Europe, in April of 2022, we acquired Electric Blue -- we also call it EB -- in the fast growing market of the United Kingdom, adding nearly 1200 charging ports to our network and a confirmed order book of approximately GBP16 million. Finally, in June of '22, we closed on our largest acquisition ever. We acquired SemaConnect, which in addition to a robust charging network and customer base, also brought key design and manufacturing capabilities for level 2 and DC fast chargers. Positioning Blink to qualify for the Buy American requirements of the NEVI plan. SemaConnect has one of the highest, if not the highest, gross margins in the business, which we intend to institutionalize across the entire Blink organization.

除了我們在歐洲的增長，2022 年 4 月，我們在快速增長的英國市場收購了 Electric Blue（我們也稱其為 EB），為我們的網絡增加了近 1200 個充電端口，並確認了 Electric Blue 的訂單約 1600 萬英鎊。最後，在 22 年 6 月，我們完成了有史以來最大的收購。我們收購了 SemaConnect，除了強大的充電網絡和客戶群之外，它還帶來了 2 級和直流快速充電器的關鍵設計和製造能力。將 Blink 定位為符合 NEVI 計劃的“購買美國貨”要求。 SemaConnect 擁有業內最高（如果不是最高）毛利率之一，我們打算在整個 Blink 組織中將其製度化。

Overall, Blink is a combination of many acquisitions since we were founded. By adding complementary businesses gradually and strategically, we have built what I believe to be the most talented team in the industry, second to none, allowing us to leverage our collective knowledge to deliver the best products and business models possible.

總的來說，Blink 是我們成立以來多次收購的結合。通過逐步和戰略性地增加互補業務，我們建立了我認為是業內最有才華的團隊，首屈一指，使我們能夠利用我們的集體知識來提供最好的產品和商業模式。

As you can see on Page 8, we have grown to become a truly global business with over 66,000 chargers sold, deployed, or installed in 25 different countries, with much, much more to come. However, we are not done here.

正如您在第 8 頁所看到的，我們已經發展成為一家真正的全球性企業，在 25 個不同的國家/地區銷售、部署或安裝了超過 66,000 個充電器，而且還會有更多。但是，我們還沒有完成。

Slide 9 illustrates that the industry is positioned to see exponential growth as electric vehicles continue to win customers all over the world. Bloomberg predicts that by 2040, we're going to need anywhere between 340 million to 490 million chargers globally to meet demand. Today we're not even close at about 14 million chargers, with many, many of them not even viable for where we are today. At best, we believe the runway is just tremendously, tremendously long.

幻燈片 9 表明，隨著電動汽車繼續贏得全球客戶，該行業有望實現指數級增長。彭博社預測，到 2040 年，全球將需要 3.4 億至 4.9 億個充電器來滿足需求。今天，我們甚至還沒有接近 1400 萬個充電器，其中許多充電器甚至無法滿足我們今天的需求。充其量，我們認為跑道非常非常長。

Just as the shift to EVs continues to build momentum, just imagine the opportunities that lie ahead for the charging industry and especially for Blink. We are very excited for the future and are working hard to prepare the company to be able to handle this amazing growth.

正如向電動汽車的轉變繼續形成勢頭一樣，想像一下充電行業，尤其是 Blink 面臨的機遇。我們對未來感到非常興奮，並正在努力讓公司做好準備，以應對這一驚人的增長。

With that, I'll pass it on to Brendan Jones, our President.

有了這個，我會把它傳遞給我們的總裁布倫丹瓊斯。

Thanks, Michael, and good afternoon to everyone. As you heard from Michael's comments, Blink had -- we had a great year. I'd even say a very, very, very good year, but I overemphasize very there.

謝謝，邁克爾，大家下午好。正如你從 Michael 的評論中聽到的那樣，Blink 有——我們度過了美好的一年。我什至會說這是非常、非常、非常好的一年，但我在這裡過分強調了。

So now let's jump into some more of the slides. Let's go to Slide 11. Now as Michael stated, within the last 12 months, Blink has contracted, sold, deployed, or acquired over 34,000 chargers domestically and internationally. And I think we have to keep reiterating this point that bringing the total charger count for the company to over 66,000 chargers since Blink's inception. Now, we have a diverse mix of deployments in the United States and abroad, and the percentages are that 76% of our total company-wide Blink chargers are deployed in North America, and right now, 24% deployed internationally.

現在讓我們跳到更多幻燈片。讓我們轉到幻燈片 11。正如 Michael 所說，在過去的 12 個月內，Blink 在國內外簽訂、銷售、部署或收購了超過 34,000 個充電器。而且我認為我們必須不斷重申這一點，即自 Blink 成立以來，公司的充電器總數已超過 66,000 個。現在，我們在美國和國外有多種部署組合，百分比是我們公司範圍內的 Blink 充電器總數的 76% 部署在北美，目前，24% 部署在國際上。

If we jump over to Slide 12, you will see just a partial sampling of our customers. But as indicated, we service a variety of those customers in different industries. And we have won multiple contracts with an array of well-established commercial enterprises, multifamily complexes, planned communities, healthcare facilities, fleets, and municipalities around the world. We also just want to reemphasize the important point that Michael made a moment ago that Blink is the only fully-integrated charging provider in the U.S. market and our capabilities, combined with our flexible business model and superior products, position us very competitively to attract new customers and long-term contracts.

如果我們跳到幻燈片 12，您將看到我們客戶的部分樣本。但正如所指出的，我們為不同行業的各種客戶提供服務。我們還贏得了與世界各地眾多知名商業企業、多戶住宅區、規劃社區、醫療保健設施、車隊和市政當局的多項合同。我們還想再次強調邁克爾剛才提出的重要觀點，即 Blink 是美國市場上唯一一家完全集成的充電供應商，我們的能力，結合我們靈活的商業模式和卓越的產品，使我們在吸引新客戶方面極具競爭力客戶和長期合同。

With that said, let's jump on to Slide 13. And what we're looking at now is examples of our innovative product portfolio. We now have a wide variety of products, ranging from residential L2 chargers to high-powered DC fast chargers, as well as our newly unveiled Vision IQ 200, which we'll talk about in a little bit. With these chargers, we service both residential and commercial locations, including an increasing number of fleets across the United States.

話雖如此，讓我們跳到幻燈片 13。我們現在看到的是我們創新產品組合的示例。我們現在擁有種類繁多的產品，從家用 L2 充電器到大功率直流快速充電器，以及我們新推出的 Vision IQ 200，稍後我們將對此進行討論。通過這些充電器，我們為住宅和商業場所提供服務，包括美國各地越來越多的車隊。

Now on Slide 13, you can see our currently available DC fast chargers. We think it is important to reiterate that Blink is a global company addressing the demand for power in different DC installation settings that vary around the world. So we carry a wide variety of DC fast charging offerings to meet customer specifications. For example, one of our latest edition is a wall-mounted, dual-port, 50-kilowatt DC fast charger, which works well in tight spaces, especially in the densely urban environments in Europe. But regardless of the specific setting, we offer our customers flexible DC solutions and ownership models that provide anywhere from 30-kilowatt chargers to 350 kilowatt and above power.

現在在幻燈片 13 上，您可以看到我們當前可用的直流快速充電器。我們認為有必要重申 Blink 是一家全球性公司，致力於解決世界各地不同直流電安裝環境的電力需求。因此，我們提供各種直流快速充電產品以滿足客戶規格。例如，我們的最新版本之一是壁掛式雙端口 50 千瓦直流快速充電器，它在狹小空間內工作良好，尤其是在歐洲人口密集的城市環境中。但無論具體設置如何，我們都為客戶提供靈活的 DC 解決方案和所有權模型，可提供從 30 千瓦充電器到 350 千瓦及以上功率的任何地方。

Now let's go ahead and examine Slide 13. Now what this shows is the innovative new product we recently displayed at CES. and I'm going to take you through this slide and different parts of it. So in the top center, you'll see our all-new Vision charger. This charger is designed as a 2-in-1 solution. It has a 55-inch LCD display screen, which creates the perfect point-of-charge advertising solution. Additionally, the Vision offers charging and advertising revenue share models providing unique solutions for any of our customers.

現在讓我們繼續檢查幻燈片 13。現在這裡顯示的是我們最近在 CES 上展示的創新新產品。我將帶您瀏覽這張幻燈片及其不同部分。因此，在頂部中央，您會看到我們全新的 Vision 充電器。此充電器設計為二合一解決方案。它有一個55英寸的液晶顯示屏，創造了完美的充電點廣告解決方案。此外，Vision 還提供收費和廣告收入分成模式，為我們的任何客戶提供獨特的解決方案。

To the right is our new 180-kilowatt DC fast charger, which will be Buy American compliant and compatible with the newest electric vehicle charging architectures. To the left is another introduction, and this is our Series 9 30-kilowatt DC fast charger. Now this is a small footprint charging station designed for speed and flexibility, representing Blink's latest solution for fast-charging situations across the global markets. Now if I can take you to the bottom of the slide in the center is our EQ 200 charger. This is an intelligent, affordable, and scalable charging solution designed specifically for the European markets. The EC 200 is future-proofed as it supports technologies like ISO 15118, OCPP 2.0, and bidirectional charging, also vehicle-to-grid or V2G as it's sometimes called.

右邊是我們新的 180 千瓦直流快速充電器，它將符合“購買美國產品”標準並與最新的電動汽車充電架構兼容。左邊是另一個介紹，這是我們的Series 9 30千瓦直流快速充電器。現在，這是一個專為速度和靈活性而設計的佔地面積小的充電站，代表了 Blink 針對全球市場快速充電情況的最新解決方案。現在，如果我可以帶你到中央幻燈片的底部，那就是我們的 EQ 200 充電器。這是專為歐洲市場設計的智能、經濟且可擴展的充電解決方案。 EC 200 是面向未來的，因為它支持 ISO 15118、OCPP 2.0 和雙向充電等技術，有時也稱為車輛到電網或 V2G。

Next is the Series 3, and Michael referenced this earlier. This is a flexible and versatile EV charging solutions designed for the 2- and 3-wheeled vehicles for Asian and Latin American markets. Now our primary target market for this charger is currently Southeast Asia where according to Bain & Company, EV adoption will be 40% to 45% for 2-wheel and 3-wheel vehicles by 2030. Now let's keep this in mind. This is a 13 million to 14 million of those vehicles will need flexible charging infrastructure. Now finally, at the bottom here, we also have the release of the PQ 150 or energy kick. Now what this is a smart charging cable designed for residential charging in the European markets and perfect for the reimbursement of charging costs for fleet vehicles at home. We're really excited about the vast variety of products we have on the market and those that we recently unveiled. Right now, Blink is confident that our product portfolio has a solution to meet charging requirements anywhere in the world.

接下來是系列 3，Michael 之前提到過這個。這是一種靈活且多功能的 EV 充電解決方案，專為亞洲和拉丁美洲市場的 2 輪和 3 輪車輛而設計。現在，我們這款充電器的主要目標市場目前是東南亞，據貝恩公司稱，到 2030 年，電動汽車的 2 輪和 3 輪車輛採用率將達到 40% 至 45%。現在讓我們牢記這一點。這是 1300 萬至 1400 萬輛汽車將需要靈活的充電基礎設施。最後，在這裡的底部，我們還發布了 PQ 150 或能量踢。現在，這是一款專為歐洲市場的住宅充電而設計的智能充電電纜，非常適合報銷家庭車隊車輛的充電費用。我們對市場上和最近推出的種類繁多的產品感到非常興奮。現在，Blink 相信我們的產品組合有一個解決方案可以滿足世界任何地方的充電要求。

Now let's jump to a different topic. As we look at Slide 16, in 2022, we completely redesigned and launched our Blink Network and Blink Charging Mobile App. Our state-of-the-art infrastructure, our tech stack, our user-centric approach allowed us to create a technological platform that can be augmented quickly and efficiently without any service disruptions to our customers. And that is key. Now the Blink mobile app put EV drivers in control by giving them improved capabilities to search for nearby amenities, chargers by zip code, city, business category, or address and seamlessly integrating EV charging into everyday life. Additionally, drivers can save their favorite charger locations and manage payment information as well as view payment history and real-time charging status. The app is also available in both iOS and Android platforms.

現在讓我們跳到另一個話題。當我們查看幻燈片 16 時，我們在 2022 年完全重新設計並推出了我們的 Blink 網絡和 Blink 充電移動應用程序。我們最先進的基礎設施、我們的技術堆棧、我們以用戶為中心的方法使我們能夠創建一個技術平台，該平台可以快速有效地增強，而不會對我們的客戶造成任何服務中斷。這是關鍵。現在，Blink 移動應用程序讓 EV 駕駛員能夠掌控一切，讓他們能夠按郵政編碼、城市、業務類別或地址搜索附近的便利設施、充電器，並將 EV 充電無縫集成到日常生活中。此外，司機可以保存他們最喜歡的充電器位置和管理支付信息，以及查看支付歷史和實時充電狀態。該應用程序還可以在 iOS 和 Android 平台上使用。

So now let's jump to 17 real quickly here. So when it comes to host benefits, the entire Blink experience has been redesigned with ease of use in mind. Site host will also have expanded functionality to create dynamic pricing protocols responsive to various use case, locations, and schedules. The new cloud-based Blink Network allows site hosts to manage their business in multiple languages across 25 countries. We expect to transition all of our legacy networks acquired via acquisition to Blink's newly launched network by the end of this summer.

所以現在讓我們在這裡快速跳到 17 real。因此，當談到主機優勢時，整個 Blink 體驗都經過重新設計，並牢記易用性。網站託管商還將擴展功能以創建動態定價協議以響應各種用例、位置和時間表。新的基於雲的 Blink Network 允許站點主機在 25 個國家/地區以多種語言管理其業務。我們希望在今年夏天結束前將通過收購獲得的所有舊網絡過渡到 Blink 新推出的網絡。

Now let's jump into Slide 18. Market growth continues to enjoy the support of government initiatives. Electric vehicles comprised about 10% of all U.S. sales in 2022, and we expect this trend to continue and accelerate. In the U.S., the administration has committed to building a nationwide network of 5,000 chargers, and it is targeting the goal of 50%. That's 50% of all new vehicle sales will be EVs by 2030, and that's just 7 short years away. The White House mentioned Blink in a recent announcement on February 17 regarding the expansion of U.S. manufacturing for new standards for its Buy American program. So right now, we are proud to say that Blink is compliant when it comes to Buy American requirements, and we expect to meet the future requirements that will be enacted in July of 2024. So we are targeting production of 100,000 units annually in the U.S., which we expect to achieve in a major part by the expansion of our Bowie, Maryland facility and with the establishment of a new manufacturing plant for DC fast chargers and L2s that we are actively in the process of identifying the location for that plant.

現在讓我們跳到幻燈片 18。市場增長繼續得到政府舉措的支持。到 2022 年，電動汽車約占美國總銷量的 10%，我們預計這一趨勢將繼續並加速。在美國，政府已承諾在全國范圍內建設 5,000 個充電網絡，並以 50% 的目標為目標。也就是說，到 2030 年，所有新車銷量的 50% 將是電動汽車，距離這只有短短 7 年的時間。白宮在最近於 2 月 17 日發布的公告中提到了 Blink，該公告涉及美國製造業的擴張，以達到“購買美國貨”計劃的新標準。所以現在，我們可以自豪地說 Blink 符合購買美國貨的要求，我們預計將滿足將於 2024 年 7 月頒布的未來要求。因此我們的目標是在美國每年生產 100,000 台產品。 ，我們希望通過擴建我們在馬里蘭州鮑伊的工廠以及建立一個新的直流快速充電器和 L2 製造工廠來實現這一目標，我們正在積極確定該工廠的位置。

Now let's jump to Slide 19, and this is a different topic. This is looking at synergies. So when we move on to synergies and the progress we have made this quarter, with the help of McKinsey Consulting, we performed an extensive analysis to discover and outline synergies across the entire global company and especially around the acquisition of SemiConnect. As a result, we identified and are targeting a total of $27.7 million in synergies related to just SemaConnect, and I'm happy to report that $5.3 million of those synergies have already been captured. We have broken down the synergy implementation into 3 phases. Phase 1 began in December and focused on sales, marketing, and some aspects of operation. Phase 2 and Phase 3 will begin in March of 2023 and will focus on global operations, IT services, technology, and manufacturing. If we look at the $5.3 million number that has already been attained, $4.1 million relates to FTE reductions and over [$1 million] will be savings from reducing and simplifying the number of vendors. As stated, we are just at the end of Phase 1, and we'll have a lot more information to report over the next several quarters.

現在讓我們跳到幻燈片 19，這是一個不同的主題。這是在尋找協同效應。因此，當我們繼續討論協同效應和本季度取得的進展時，在麥肯錫諮詢公司的幫助下，我們進行了廣泛的分析，以發現和概述整個全球公司的協同效應，尤其是圍繞收購 SemiConnect 的協同效應。因此，我們確定並瞄準了與 SemaConnect 相關的總計 2770 萬美元的協同效應，我很高興地報告，其中 530 萬美元的協同效應已經實現。我們將協同效應的實施分為三個階段。第一階段於 12 月開始，側重於銷售、營銷和運營的某些方面。第二階段和第三階段將於 2023 年 3 月開始，重點關注全球運營、IT 服務、技術和製造。如果我們看一下已經達到的 530 萬美元的數字，410 萬美元與 FTE 減少有關，超過 [100 萬美元] 將通過減少和簡化供應商數量來節省。如前所述，我們剛剛結束第一階段，在接下來的幾個季度中我們將有更多信息要報告。

As Michael mentioned earlier, when you dig a little deeper into our results, you will see that Q4 adjusted EBITDA improved sequentially by nearly $3 million when compared to Q3 of '22, and revenue grew more than $5 million compared to third quarter. We are narrowing our losses, and at the same time, we are growing our revenue, and we are looking to continue this momentum moving forward.

正如邁克爾之前提到的，當你更深入地研究我們的結果時，你會發現與 22 年的第三季度相比，第四季度調整後的 EBITDA 連續增加了近 300 萬美元，與第三季度相比，收入增長了超過 500 萬美元。我們正在縮小虧損，與此同時，我們的收入也在增加，我們希望繼續保持這種勢頭。

So to wrap all this up, 2022 has been truly an impactful year of progress for our industry and a significant year for Blink with record growth in all areas of the company. We are elated with what the future holds for Blink. So with that, I'm going to now turn it over to our CFO, Michael Rama, for additional comments.

因此，總而言之，2022 年對我們的行業來說確實是有影響力的一年，對 Blink 來說也是意義重大的一年，公司各個領域都實現了創紀錄的增長。我們對 Blink 的未來感到高興。因此，我現在將把它交給我們的首席財務官 Michael Rama，以徵求更多意見。

Thank you, Brendan, and good afternoon, everyone. Now turning to slide 21. Total revenues in the fourth quarter of 2022 grew 184% year-over-year to $22.6 million, another record for Blink. In addition, fourth quarter revenues were up 31% sequentially when compared with the third quarter of 2022, primarily driven by the increased demand for our global EV charging infrastructure and higher service revenues. Product sales in the fourth quarter of 2022 were $15.8 million, an increase of 176% over the same period in 2021 as customers purchased greater volumes of our commercial chargers, DC fast chargers, and residential chargers. Product sales for the quarter also included revenues generated from our acquired companies of SemaConnect and EV.

謝謝 Brendan，大家下午好。現在轉到幻燈片 21。2022 年第四季度的總收入同比增長 184% 至 2260 萬美元，這是 Blink 的又一項記錄。此外，與 2022 年第三季度相比，第四季度收入環比增長 31%，這主要是受全球電動汽車充電基礎設施需求增加和服務收入增加的推動。 2022 年第四季度的產品銷售額為 1580 萬美元，比 2021 年同期增長 176%，因為客戶購買了更多我們的商用充電器、直流快速充電器和家用充電器。本季度的產品銷售額還包括我們收購的 SemaConnect 和 EV 公司產生的收入。

Fourth quarter 2022 service revenues, which consists of charging service revenues, network fees, and ridesharing revenues, were $5.7 million, increase of 213% compared to the fourth quarter of 2021. The year-over-year growth was primarily driven by greater utilization of our chargers, the increased number of chargers on Blink's networks, revenues associated with the Blink Mobility rideshare program, and incremental service revenues from acquisitions. As many of you already know, we combine these service revenue line items into one to more accurately differentiate between the product and service aspects of our business.

2022 年第四季度的服務收入（包括充電服務收入、網絡費用和拼車收入）為 570 萬美元，與 2021 年第四季度相比增長 213%。同比增長主要是由於對網絡的利用率提高所致我們的充電器、Blink 網絡上充電器數量的增加、與 Blink Mobility 拼車計劃相關的收入，以及來自收購的增量服務收入。正如你們中的許多人已經知道的那樣，我們將這些服務收入項目合併為一個，以更準確地區分我們業務的產品和服務方面。

Now operationally, this approach also aligns with our company's strategic goal of increasing the service component of our revenue mix and growing our reoccurring revenue base. In time, as EV adoption accelerates and utilization of our charging stations improve, we anticipate seeing a larger mix of revenue coming from services. Gross profit for the fourth quarter of 2022 was approximately $6.5 million, an increase of 370% over the same period last year and up 35% sequentially from the third quarter of 2022. As a percentage of revenues, gross margin was 29% in the fourth quarter of 2022, over 1,100 basis points improvement when compared to the same period last year. And sequentially, our gross margin in Q4 2022 grew nearly 100 basis points.

現在在運營中，這種方法也符合我們公司的戰略目標，即增加我們收入組合的服務部分並擴大我們的經常性收入基礎。隨著時間的推移，隨著電動汽車的採用加速和我們充電站利用率的提高，我們預計會看到更多來自服務的收入組合。 2022 年第四季度毛利約為 650 萬美元，同比增長 370%，環比 2022 年第三季度增長 35%。第四季度毛利率佔收入的百分比為 29% 2022 年季度，與去年同期相比提高了 1,100 多個基點。隨後，我們在 2022 年第四季度的毛利率增長了近 100 個基點。

As Brendan mentioned earlier, we continue to look at ways to reduce our component and operating costs, which should have a positive effect on gross margins. Operating expenses in the fourth quarter of 2020 were $34.2 million compared to $20.5 million in the prior year period. The year-over-year increase reflects the impact of recent acquisitions as well as our commitment to positioning Blink to capitalize on many EV infrastructure opportunities that lie ahead. At the same time, we remain vigilant about cost reduction opportunities and additional synergies as Brendan mentioned earlier.

正如 Brendan 之前提到的，我們繼續尋找降低組件和運營成本的方法，這應該會對毛利率產生積極影響。 2020 年第四季度的運營費用為 3420 萬美元，而去年同期為 2050 萬美元。同比增長反映了近期收購的影響以及我們對定位 Blink 的承諾，以利用未來的許多電動汽車基礎設施機會。與此同時，正如布倫丹之前提到的那樣，我們對降低成本的機會和額外的協同效應保持警惕。

Last year on this time, we began presenting adjusted EBITDA. Our management believes this non-GAAP measure is useful in evaluating our company's core operating performance because it excludes items that are either significant noncash or nonrecurring expenses. Adjusted EBITDA for the fourth quarter of 2022 was a loss of $14.8 million compared to a loss of $9.1 million in the prior year period, largely due to the higher operating expenses, as I just mentioned. Sequentially, Q4 adjusted EBITDA improved nearly $3 million, or nearly 3,700 basis points compared to the third quarter of 2022 and improved nearly 5,000 basis points year-over-year compared to the fourth quarter of 2021. As you could see, as a percentage of revenues, our adjusted EBITDA improved nearly 40% since Q4 of 2021.

去年這個時候，我們開始展示調整後的 EBITDA。我們的管理層認為，這種非 GAAP 衡量標準有助於評估我們公司的核心經營業績，因為它排除了重大非現金或非經常性支出項目。 2022 年第四季度調整後的 EBITDA 虧損 1480 萬美元，而去年同期虧損 910 萬美元，這主要是由於運營費用增加，正如我剛才提到的。與 2022 年第三季度相比，第四季度調整後的 EBITDA 增加了近 300 萬美元，即近 3,700 個基點，與 2021 年第四季度相比同比增加了近 5,000 個基點。如您所見，佔收入方面，我們調整後的 EBITDA 自 2021 年第四季度以來增長了近 40%。

Adjusted earnings per share for the fourth quarter of 2022 was a loss of $0.41 per diluted share compared to a loss of $0.44 per diluted share in the prior year period. Non-GAAP adjusted earnings per share is defined as adjusted net income, which excludes significant noncash items such as amortization of intangible assets, nonrecurring acquisition-related expenses, and additional stock-based compensation, divided by the weighted average shares outstanding. Adjusted earnings per share for the fourth quarter of 2022 was a loss of $0.41 compared to adjusted EPS loss of $0.47 in the third quarter of 2022.

2022 年第四季度調整後每股收益為稀釋後每股虧損 0.41 美元，而去年同期為每股稀釋後虧損 0.44 美元。非 GAAP 調整後每股收益定義為調整後淨收入，其中不包括重要的非現金項目，如無形資產攤銷、非經常性收購相關費用和額外的股票薪酬，除以加權平均流通股。 2022 年第四季度調整後每股收益虧損 0.41 美元，而 2022 年第三季度調整後每股收益虧損 0.47 美元。

Now turning to Slide 22, you could see that both revenue and gross profit performance has strongly improved over the last several quarters with significant sequential and year-over-year growth. As we continue to expand our own-and-operate strategy, experience greater demand for EV infrastructure, and increased utilization rates, we believe we are well positioned to drive significantly improved revenue and gross profit performance moving forward.

現在轉到幻燈片 22，您可以看到在過去幾個季度中，收入和毛利潤表現均有顯著改善，環比和同比均有顯著增長。隨著我們繼續擴大我們的自營戰略，對電動汽車基礎設施的需求增加，以及利用率的提高，我們相信我們有能力推動未來收入和毛利潤業績的顯著提高。

Moving to our cash position. As of December 31, 2022, cash and cash equivalents was $36.6 million. Following the close of the quarter, Blink closed on an oversized public offering with gross proceeds of $100 million. We are pleased to have closed fiscal year 2022 with a record fourth quarter and full year results. We believe we are building a solid foundation for continued growth as EVs are becoming more and more common among consumers and demand for our products and service grows.

轉到我們的現金頭寸。截至 2022 年 12 月 31 日，現金及現金等價物為 3660 萬美元。本季度結束後，Blink 完成了一次超大規模的公開募股，募集資金總額為 1 億美元。我們很高興以創紀錄的第四季度和全年業績結束了 2022 財年。我們相信，隨著電動汽車在消費者中越來越普遍以及對我們產品和服務的需求不斷增長，我們正在為持續增長奠定堅實的基礎。

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

我現在將把電話轉回給 Michael Farkas，請他作最後的評論。來吧，邁克爾。

Thank you, Michael. 2022 is a truly transformational year for Blink and for the entire industry. I am very proud. I'm actually I'm beyond proud of our team and what they've accomplished this year. From completing and integrating 2 large acquisitions to launching a brand-new redesign from the ground-up network, new mobile applications, also introducing a number of best-in-class products for both Level 2 and DC fast charging, it has been an intense year, but it's also been a very, very rewarding year for us.

謝謝你，邁克爾。 2022 年對於 Blink 和整個行業來說都是真正轉型的一年。我很驕傲。事實上，我為我們的團隊以及他們今年所取得的成就感到無比自豪。從完成並整合 2 項大型收購，到推出全新的網絡重新設計、新的移動應用程序，以及推出多項用於 Level 2 和 DC 快速充電的同類最佳產品，這是一場激烈的合作年，但這對我們來說也是非常非常有意義的一年。

And as you look at the EV charging industry, we have positioned Blink to be truly unique. #1, we are a truly, fully vertically-integrated EVSE provider with software and hardware, engineering, design, manufacturing capabilities, and we're providing the most flexible ownership models, period. #2, our charging solutions range anywhere from simple Level 2 home charger to some of the most sophisticated DC fast chargers in the market. #3, over the years, our flexibility allowed us to create strong partnerships and acquire a diverse client base that speaks for itself. The clients we have are just amazing. They're just amazing companies. #4, electric vehicle charging TAM is positioned for gargantuan growth. It's forecasted to increase at more than 30x current levels over the next 1.5 decades. #5, to position ourselves for this growth, we have expanded our global footprint and scale in over 25 countries and counting. And finally, 6, the last 2 quarters have shown that our strategy works as we have achieved some of the highest margins in the entire industry.

當您審視 EV 充電行業時，我們將 Blink 定位為真正獨一無二的。 #1，我們是一家真正的、完全垂直整合的 EVSE 供應商，擁有軟件和硬件、工程、設計、製造能力，我們提供最靈活的所有權模式。 #2，我們的充電解決方案範圍從簡單的 2 級家用充電器到市場上一些最複雜的直流快速充電器。 #3，多年來，我們的靈活性使我們能夠建立牢固的合作夥伴關係並獲得不言而喻的多元化客戶群。我們的客戶真是太棒了。他們只是了不起的公司。 #4，電動汽車充電 TAM 的定位是巨大的增長。預計在未來 1.5 年內，它會以當前水平的 30 倍以上的速度增長。 #5，為了為這種增長做好準備，我們已經在超過 25 個國家和地區擴大了我們的全球足跡和規模。最後，6，過去兩個季度表明我們的戰略有效，因為我們實現了整個行業中最高的利潤率。

We drove strong results in 2022. With our visibility today and our optimism around the opportunities we're seeing in the marketplace, we are targeting 2023 revenues in the range of $100 million to $110 million and targeting gross profit in excess of 30% for full year 2023. With continued solid operational execution, we believe we are well positioned to generate continued growth and improved margin performance. We are excited with what the future holds for Blink.

我們在 2022 年取得了強勁的業績。憑藉我們今天的知名度以及我們對市場機會的樂觀態度，我們的目標是 2023 年的收入在 1 億至 1.1 億美元之間，並將毛利潤目標定為超過 30% 2023 年。憑藉持續穩健的運營執行力，我們相信我們有能力實現持續增長並提高利潤率。我們對 Blink 的未來感到興奮。

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

有了這個，我們現在將開始提問。

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

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

This is Will Jellison on for Matt this afternoon. I wanted to start out by asking you about reliability of charging stations, because we've started to see to come into the public consciousness a little bit more, making sure that our public infrastructure is reliable and can be dependent upon. And I won't ask for specific performance indicators on Blink reliability. What I'd more so like to learn a little bit more about is what Blink is doing to drive continued improvements in the reliability of the network going forward. I'd love to hear what you're thinking about with that.

我是威爾杰里森，今天下午將接替馬特。我想先問一下充電站的可靠性，因為我們已經開始更多地進入公眾意識，確保我們的公共基礎設施可靠且可以依賴。並且我不會要求 Blink 可靠性的具體性能指標。我更想了解更多的是 Blink 正在做些什麼來推動未來網絡可靠性的持續改進。我很想听聽你在想什麼。

Okay. That happens to be a great question, and it's something today that's plaguing a bunch of networks. Without a question, historically, if you look back, the first generation of the technology that was launched, whether it was ChargePoint, Blink's original hardware, even General Electric, Siemens, Schneider and even the big boys whoever they are, all the Gen 1 equipment was not made up to par, and the reason why it wasn't because we really didn't understand the terrain, okay? Remember, these are high-powered electrical equipment that are subject to the elements and conditions. And really, there's been a lot of improvements with the generational changes of hardware over time.

好的。這恰好是一個很好的問題，也是今天困擾著許多網絡的問題。毫無疑問，從歷史上看，第一代推出的技術，無論是ChargePoint，還是Blink的原始硬件，甚至是通用電氣、西門子、施耐德，甚至是那些大佬，都是Gen 1裝備沒有達到標準，之所以不是因為我們真的不了解地形，好嗎？請記住，這些是受元素和條件影響的大功率電氣設備。事實上，隨著時間的推移，硬件的代際變化已經有了很多改進。

That's even more so for DC fast chargers. And that's where you're hearing most of these operational problems with. And people driving up to a charger, not being able to charge their car and moving on. So I'm not going to say we haven't had any issues. We've had. Most of the issues that Blink has had has been in prior generation equipment and network prior before we bought the company and took over those assets. So unfortunately, they were legacy issues. We've gotten rid of most of those issues. And again, you deal with equipment going off and you have to service it and take care of it, and that's really the main focus. But the DC fast charger operators, like the EVGos, the Electrify Americas and some others, they've been really bearing the brunt of those issues and problems because DC fast chargers are a lot more complicated and require a lot more maintenance. Brendan, do you want to add anything to this.

直流快速充電器更是如此。這就是您聽到大多數這些操作問題的地方。人們開車去充電，無法為汽車充電並繼續前進。所以我不會說我們沒有任何問題。我們有過。在我們收購公司並接管這些資產之前，Blink 遇到的大部分問題都存在於上一代設備和網絡中。不幸的是，它們是遺留問題。我們已經擺脫了大部分這些問題。再一次，你處理設備故障，你必須維修它並照顧它，這才是真正的主要焦點。但 EVGos、Electrify Americas 和其他一些直流快速充電器運營商確實首當其沖地承受著這些問題，因為直流快速充電器要復雜得多，需要更多維護。布倫丹，你想補充什麼嗎？

Yes. So a couple points. But first, just reiterating what Michael said. Definitely the complexity of DC chargers is 5x what it is in the L2 charger. I think it was a year of awakening for the industry, as Michael said, everybody now is taking quality very much seriously. Blink is participating in quality analysis with both the DOT and in California separately with CARB and CEC. So we're examining everything we're doing, and we're collaborating with the industry, not to just improve our quality, but to assist in the improvement of quality across the board.

是的。所以有幾點。但首先，只是重申 Michael 所說的話。 DC 充電器的複雜性絕對是 L2 充電器的 5 倍。我認為這是行業覺醒的一年，正如邁克爾所說，現在每個人都非常重視質量。 Blink 正在與 DOT 一起參與質量分析，在加州分別與 CARB 和 CEC 一起參與質量分析。所以我們正在檢查我們所做的一切，我們正在與行業合作，不僅僅是為了提高我們的質量，而是為了幫助全面提高質量。

And we also saw a little bit of an unusual blip in the summer. All networks faced an unprecedented event when it came to the sunsetting of the 2G and 3G networks from all the providers. And that created a significant disruption for everybody. And most of us all work together. We upgraded a lot of the equipment to the 4G and 5G system, but you did have this depth and this big bubble there for a little bit of time where everybody was working to catch up. But now everybody is getting on the same page. Blink is definitely focusing on making sure that we deliver the highest level of quality. And when we install DC fast chargers, we're going to do that knowing that we have to double-down on these and understand from a call center, from a network operations perspective, and from a maintenance provider that we have to ensure that when the customer gets to the charger, they can charge. And we're moving forward with all those activities now as we speak.

我們在夏天也看到了一些不尋常的現象。當所有提供商關閉 2G 和 3G 網絡時，所有網絡都面臨著前所未有的事件。這對每個人都造成了嚴重的破壞。我們大多數人一起工作。我們將很多設備升級到 4G 和 5G 系統，但你確實有這樣的深度和這個大泡泡有一段時間，每個人都在努力追趕。但現在每個人都在同一個頁面上。 Blink 絕對專注於確保我們提供最高水平的質量。當我們安裝直流快速充電器時，我們知道我們必須加倍努力，從呼叫中心、網絡運營的角度和維護提供商的角度了解我們必須確保什麼時候客戶拿到充電器，他們就可以充電了。我們現在正在推進所有這些活動。

Understood.

明白了。

And to add to what Brendan said, Blink is really focused on deploying Level 2 charging stations, a lot less maintenance, a lot less issues, it's a lot less common when you roll up to -- when you drive it to a Level 2 charging station that you're going to have these issues. And as we deploy our next generation of DC fast chargers, we believe we're going to be addressing a lot of those maintenance and operational issues of the current generation of the DC fast chargers.

補充一下 Brendan 所說的，Blink 真正專注於部署 2 級充電站，維護少得多，問題少得多，當你把它開到 2 級充電時，它就不那麼常見了你會遇到這些問題的站。隨著我們部署下一代直流快速充電器，我們相信我們將解決當前一代直流快速充電器的許多維護和操作問題。

Understood. And then as a follow-up, with the capital offering now successfully completed, I'm curious as to how Blink is thinking about capital allocation moving forward, deciding between organic investments in your own manufacturing or innovation capabilities or additional acquisitions of assets that might bolster the Blink Network going forward.

明白了。然後作為後續行動，隨著資本發行現已成功完成，我很好奇 Blink 是如何考慮未來的資本分配的，在對自己的製造或創新能力進行有機投資或額外收購資產之間做出決定支持 Blink Network 向前發展。

Okay. Great question. We got caught in a little bit of a zone, okay? We all know that there's literally billions and billions of dollars that are now going to be earmarked for our industry, okay? Whether that's for building facilities, the deployment of infrastructure, subsidizing, rebates, and all these kind of amazing things. So the capital that we raised was really a bridge to get us to a lot of that funding. We believe in the future, and we've been -- I'm sure people have been on these calls before have heard us say this, we've been looking for nondilutive capital or very little dilutive capital. The industry is really, really getting to that point. We're seeing it in Europe where there's banks that are financing deployments now. And we're going to see stuff like that happen here. It's really about utilization. So we're going to look to use this money, the capital that we just raised, to really handle the operations of our business, to grow our business. And we believe in short order, there are going to be some very interesting mechanisms to finance some of the capital requirements like the new build-out as well as the new facility, as well as being able to deploy a serious amount of charging stations.

好的。很好的問題。我們被困在了一個區域，好嗎？我們都知道，現在有數十億美元專門用於我們的行業，好嗎？無論是用於建設設施、部署基礎設施、補貼、回扣，還是所有這些令人驚奇的事情。因此，我們籌集的資金確實是讓我們獲得大量資金的橋樑。我們相信未來，而且我們一直——我敢肯定人們在聽我們這麼說之前就已經接過這些電話，我們一直在尋找非稀釋性資本或極少的稀釋性資本。這個行業真的，真的到了那個地步。我們在歐洲看到了它，那裡的銀行現在正在為部署提供資金。我們將在這裡看到類似的事情發生。這真的是關於利用率。因此，我們將尋求使用這筆資金，即我們剛剛籌集的資金，真正處理我們業務的運營，發展我們的業務。我們相信在短期內，將會有一些非常有趣的機制來為一些資本需求提供資金，比如新的擴建和新設施，以及能夠部署大量的充電站。

Our next question is coming from Craig Irwin with ROTH Capital.

我們的下一個問題來自 ROTH Capital 的 Craig Irwin。

So Michael, the one thing that really stood out to me was the more than eightfold increase in network fees in the quarter. Something really fundamental seems to be going on there. Can you maybe talk us through what the margins are on those? What's driving growth there? And how this is likely to take shape? Do we continue to see this outsized growth multifold increases materializing over the next number of quarters?

所以邁克爾，對我來說真正突出的一件事是本季度網絡費用增加了八倍多。那裡似乎正在發生一些真正基本的事情。你能不能告訴我們這些利潤率是多少？是什麼推動了那裡的增長？這可能如何形成？在接下來的幾個季度中，我們是否會繼續看到這種超大規模的成倍增長？

Yes. I'm going to let Michael Rama address the margin and so on. But this is part of selling hardware to third parties. This is reoccurring fees of selling energy and other services. We're going to see a massive growth in a lot of our recurring revenue models. And that's because there are a lot of people who are buying charging stations, and we're deploying a lot of charging stations. And when we sell a charging station, we get a network fee every single month paid by that property owner. So yes, we're going to see a lot of increases. And as we deploy more and more charging stations. And I could tell you, we haven't seen anything yet. There's just a tremendous amount of growth we're going to see in this business.

是的。我將讓 Michael Rama 解決保證金等問題。但這是向第三方銷售硬件的一部分。這是銷售能源和其他服務的重複費用。我們將看到很多經常性收入模式的大幅增長。那是因為有很多人在購買充電站，而我們正在部署很多充電站。當我們出售充電站時，我們每個月都會收到業主支付的網絡費。所以是的，我們會看到很多增長。隨著我們部署越來越多的充電站。我可以告訴你，我們還沒有看到任何東西。我們將在這項業務中看到巨大的增長。

I'm going to repeat it again. I've said this a bunch of times. You look at what Bloomberg's numbers are and others, you're talking 300 million, 400 million, 500 million charging stations needed by 2040. We're lucky if we're at the 10s. We're not even there yet, especially viable ones. If you heard some of the reports that came out a little while ago, EVgo came out and said they need to have us go EVgo ReNew. That's them acknowledging that many, many, many of their DC fast chargers -- the legacy DC fast chargers only to be pulled out of the ground and replaced. We don't have to do that. We're in a much better position than that. We just deploy at new locations and are constantly getting more and more of those locations. But the margins and to address what you're referring to on the margins of that business, on the processing fees, on the networking fees, they're massive. And Michael can fill you in a little bit more.

我要再重複一遍。我已經說過很多次了。你看看彭博社和其他人的數據，你說的是到 2040 年需要 3 億、4 億、5 億個充電站。如果我們在 10 年代，我們就很幸運了。我們甚至還沒有，尤其是可行的。如果你聽到一些前陣子的報導，EVgo 出來說他們需要讓我們去 EVgo ReNew。那就是他們承認他們的許多很多直流快速充電器——傳統的直流快速充電器只能被拔出地面並更換。我們不必那樣做。我們的處境比那要好得多。我們只是在新地點進行部署，並不斷獲得越來越多的地點。但是利潤率和解決你所指的業務利潤率，處理費，網絡費，它們是巨大的。 Michael 可以為您提供更多信息。

Yes. Craig, just to add a little bit more color to that. The SemaConnect acquisition, it came with a vast -- very large network. And even though they're selling third-party hardware sales, but there's stickiness in the network revenues that we're getting from that business. And that's where we're really seeing that take off in the third and fourth quarters of 2022. And the expectation is that will continue as the network keeps growing as we put more chargers on the networks -- on our combined networks. And yes, as Michael mentioned, the margins are strong, and that's why we've always been looking at the service part of the business to grow that because we know the margins on that business are going to continue to expand, whereby the hardware end of the business over time could get commoditized. So that's the benefit of a very well-balanced portfolio of revenue offerings is to have that mix of gross profit potential, if you will.

是的。克雷格，只是為了給它添加一點顏色。對 SemaConnect 的收購帶來了一個龐大的——非常大的網絡。即使他們銷售第三方硬件銷售，但我們從該業務中獲得的網絡收入仍然存在粘性。這就是我們真正看到它在 2022 年第三和第四季度起飛的地方。隨著我們在網絡上——在我們的聯合網絡上——放置更多的充電器，隨著網絡的不斷增長，這種情況將繼續下去。是的，正如邁克爾提到的那樣，利潤率很高，這就是為什麼我們一直在關注業務的服務部分以實現增長，因為我們知道該業務的利潤率將繼續擴大，硬件端隨著時間的推移，業務的一部分可能會商品化。因此，如果你願意的話，一個非常平衡的收入產品組合的好處就是具有毛利潤潛力的組合。

Excellent. So if I could maybe ask for just a little bit more color. There's some fringe elements that have been suggesting your utilization on your network is materially different than your peers. And we know that not to be true. Can you maybe talk about utilization on the network and how utilization contributes to this growth that you're seeing?

出色的。所以，如果我可以要求多一點顏色。有一些邊緣元素表明您對網絡的利用與同行有很大不同。我們知道這不是真的。您能否談談網絡的利用率以及利用率如何促進您所看到的這種增長？

We're seeing the increase of utilization. There's no question about it. When you average in our European operations even more so. Again, you're looking at a difference between a portfolio of, let's say, solely DC fast chargers where you'll see even a much, much lower utilization rate versus AC chargers. And you have to realize it doesn't take a very large utilization rate for Level 2 charging stations in a public domain, multifamily parking garages. It doesn't take much utilization for them to be very, very profitable. But without a question, seeing a huge increase in those utilization rates. Mike, do you want to elaborate on that a bit?

我們看到了利用率的增加。毫無疑問。當您在我們的歐洲業務中平均時，情況更是如此。同樣，您正在研究的產品組合之間的差異，比方說，純直流快速充電器與交流充電器相比，您會發現利用率甚至要低得多。你必須意識到，在公共區域、多戶停車場中，二級充電站的利用率並不高。他們不需要太多的利用就可以非常非常有利可圖。但毫無疑問，這些利用率會大幅提高。邁克，你想詳細說明一下嗎？

Yes. As you could see, quarter-over-quarter, our charging revenue part of the business has sequentially been increasing. And it's, again, more chargers on the network, more own and operate. And as we've always mentioned, there's -- charging and utilization has been going hand-in-hand a bit with the penetration of EVs to overall vehicle sales. And as we're approaching that 10%, we're starting to really see pick up traction where we were just 12 months ago, where it was in -- I think it was the middle-single digits, 5%, 6%. So we're seeing that in our portfolio of chargers where the utilization is trending positively and increasing because of there's just more EVs on the road to be charged.

是的。正如您所看到的，與上一季度相比，我們業務的收費收入部分一直在增長。再次，網絡上有更多充電器，更多擁有和運營。正如我們一直提到的那樣，充電和利用率一直與電動汽車對整體汽車銷售的滲透密切相關。當我們接近 10% 時，我們開始真正看到我們在 12 個月前的情況下的牽引力，我認為這是中間個位數，5%，6%。因此，我們在我們的充電器產品組合中看到，由於路上有更多的電動汽車需要充電，因此利用率呈積極趨勢並在增加。

Our next question is coming from Sameer Joshi with H.C. Wainright.

我們的下一個問題來自 H.C. 的 Sameer Joshi。溫賴特。

Congrats on a great quarter. Would you comment on your position vis-a-vis the V2G opportunity, given that you have this own and operate model? Does it lend itself favorably to the V2G opportunity?

祝賀一個偉大的季度。鑑於您擁有自己的運營模式，您會評論一下您對 V2G 機會的看法嗎？它是否有利於 V2G 機會？

Yes. By owning and operating the chargers, we're able to monetize V2G when there are programs that allow that to take place. Again, it's about having the right equipment and having the right relationships with utilities. Brendan, do you want to expand on that a bit?

是的。通過擁有和操作充電器，我們能夠在有允許發生的程序時通過 V2G 獲利。同樣，這與擁有合適的設備以及與公用事業公司建立正確的關係有關。布倫丹，你想擴展一下嗎？

Yes. So we're making our chargers, especially all of our new chargers, V2G capable, whether it's a home charger, a commercial, L2, or DC fast charger. And whether it's on the own-and-operated model, whether it's sold. So all the new designs will have that capability built into. And we already -- as we said during the presentation, the European charger has that built in, and that feature is being added both to the network and to our chargers as we speak.

是的。因此，我們正在製造我們的充電器，尤其是我們所有的新充電器，都支持 V2G，無論是家用充電器、商用充電器、L2 充電器還是 DC 快速充電器。以及是否是自營模式，是否銷售。因此，所有新設計都將內置該功能。我們已經 - 正如我們在演示期間所說的那樣，歐洲充電器內置了該功能，並且在我們說話時，該功能正在被添加到網絡和我們的充電器中。

And then we'll work to monetize it, right? So how do you monetize V2G? And that's the big million-dollar question. So we're working with a variety of outside companies on this topic right now to figure out how do we work with the consumers, how do we provide them a solution with the installation of a charger and the vehicle because you got to have the vehicle and the charger to be able to do it right. And we'll have more to come on that as we move forward. But the goal is to explore and then to, where possible, to monetize everything we can on that topic.

然後我們會努力將其貨幣化，對嗎？那麼您如何通過 V2G 獲利？這就是價值百萬美元的大問題。因此，我們現在正在與各種外部公司就此主題進行合作，以弄清楚我們如何與消費者合作，我們如何為他們提供安裝充電器和車輛的解決方案，因為您必須擁有車輛和充電器能夠正確地做到這一點。隨著我們的前進，我們將有更多的事情要做。但我們的目標是探索，然後在可能的情況下，將我們在該主題上所能做的一切都貨幣化。

Good. And then just a second question on...

好的。然後只是第二個問題......

Sameer, one other thing I want to add to it. And I'm sure you've heard me say this before. Right now, this is a land grab. And we've been in the land grab mode for 14 years. And there are going to be many different ways to monetize these locations in the future. The cars are coming, you're seeing more and more people buying these EVs, it's getting gaining a lot more traction out there. And we knew that there were going to be many ways besides just selling a charging station or getting networking fees or getting processing fees, we knew that ultimately we're going to be able to sell electricity to the EV owners. Maybe if we're able to aggregate enough electricity over time, being able to then turn some of our hosts into customers of electricity, advertising, V2G -- there's going to be many different ways for us to monetize these locations as we grow more and more. And as we have more electricity purchasing, more hardware, all of these things factor in what leverage we're going to have. But it's our intent to monetize these locations as our scale grows, and we're able to offer different services and products to our host, owners, and the EV drivers.

Sameer，還有一件事我想補充一下。我相信你以前聽過我說過這句話。現在，這是一場土地掠奪。我們已經處於土地爭奪模式 14 年了。未來將有許多不同的方式將這些地點貨幣化。汽車來了，你看到越來越多的人購買這些電動汽車，它在那裡獲得了更多的牽引力。我們知道除了出售充電站或收取網絡費或處理費外，還有很多方法，我們知道最終我們將能夠向電動車所有者出售電力。也許如果我們能夠隨著時間的推移聚集足夠的電力，然後能夠將我們的一些主機變成電力、廣告、V2G 的客戶——隨著我們的增長和發展，我們將有許多不同的方式將這些地點貨幣化更多的。隨著我們購買更多的電力，更多的硬件，所有這些因素都會影響我們將擁有的影響力。但隨著我們規模的擴大，我們打算通過這些地點獲利，並且我們能夠為我們的房東、車主和電動車司機提供不同的服務和產品。

Yes. No, I understood.

是的。不，我明白了。

But it's not only VTG. There's a lot of really amazing ways to monetize these locations.

但這不僅僅是 VTG。有很多非常棒的方法可以通過這些地點獲利。

Yes, yes. The second question was about just an update or any visibility on the state level funding and the federal funding dollars coming down? Should we start seeing any benefits from that or at least initial positive news from that in the third, fourth quarter? Or do you think it will be a 2024 windfall?

是的是的。第二個問題是關於州級資金和聯邦資金下降的更新或可見性嗎？我們是否應該在第三、第四季度開始看到這帶來的任何好處，或者至少看到初步的積極消息？還是您認為這將是 2024 年的意外之財？

Sameer...

薩米爾...

Yes. So it's a great question...

是的。所以這是一個很好的問題...

Go ahead, Brendan.

去吧，布倫丹。

No. You go ahead. Okay.

不，你去吧。好的。

No, I was going to tell Sameer, again, we're still at the mercy of the government and them getting their programs together and figuring out all the things, which is happening slowly but surely. It's just a matter of having some patience, and I'm sure Brendan is going to add to that.

不，我要再次告訴 Sameer，我們仍然受政府的擺佈，他們正在整合他們的計劃並弄清楚所有事情，這正在緩慢但肯定地發生。這只是需要一些耐心的問題，我相信 Brendan 會增加耐心。

Yes. So only 3 states are out right now and 1 pulled back. So Ohio, Kentucky, and Pennsylvania pulled back. A lot of people were waiting to see what the new NEVI rule came out, Buy America. As we talked about, we're compliant on the L2 side. We're working on compliance, and we'll be compliant with the DC side. So you're going to see some states right now take that into consideration and then figure out your timing. But these early guys out are still in; one, has gotten responses in and they're evaluating to see if they require; and the other 2, they're basically slow walking. And then after that, we got 47 other states, right? So you're not going to see anything meaningful, especially in terms of funds disbursed. You're going to see some awards perhaps as we get into the summer, a few probably in Q4, but the real work is going to happen in 2024.

是的。所以現在只有 3 個州出局，1 個州撤回。所以俄亥俄州、肯塔基州和賓夕法尼亞州撤退了。很多人都在等著看新 NEVI 規則的出台，Buy America。正如我們所說，我們在 L2 方面是合規的。我們正在致力於合規性，我們將與 DC 端合規。所以你現在會看到一些州考慮到這一點，然後計算出你的時間。但是這些早期的人仍然在；第一，已經收到回复，他們正在評估是否需要；另外兩個，他們基本上是慢走。然後在那之後，我們有 47 個其他州，對嗎？所以你不會看到任何有意義的事情，尤其是在支付的資金方面。當我們進入夏季時，您可能會看到一些獎項，一些可能在第四季度，但真正的工作將在 2024 年發生。

Got it. Okay. And then just following up on previous question from Craig. I think your service margins should continue to improve as your network fees grow. By 2025-2026, what proportion of your revenues do you expect to be from service-related offerings?

知道了。好的。然後只是跟進克雷格之前的問題。我認為隨著網絡費用的增長，您的服務利潤率應該會繼續提高。到 2025-2026 年，您預計服務相關產品佔您收入的比例是多少？

I'll jump in on that. Obviously, as we go forward, we've always tried to keep, I'll call it, strategizing where we do more own and operate. But just as you think you're going to tilt a little more one way, you get a big quarter that comes in. So predicting the scale and the balance between the two, we don't mind taking the profits from the hardware sales. But again, to the point, we are starting to see a little bit more bigger volume of own and operate. And to get what that split is going to be, it would be a nice 60-40 split, maybe, host versus own and operate, but you never know how it's all going to shake out, as time moves forward.

我會參與其中。顯然，在我們前進的過程中，我們一直在努力保持，我會稱之為，制定我們擁有和運營更多的地方的戰略。但正如你認為你會向一個方向傾斜更多一點，你會得到一個很大的季度。因此預測兩者之間的規模和平衡，我們不介意從硬件銷售中獲利。但同樣，就這一點而言，我們開始看到自己和運營的數量有所增加。並且為了得到這種分裂將會是什麼，這將是一個很好的 60-40 分裂，也許，主機與自己和運營，但你永遠不知道隨著時間的推移，這一切將如何改變。

Sameer, I want to add to that. For a while, we saw a lot of businesses, and we saw a lot of municipalities and the original RFPs, they wanted to own and operate the hardware, similarly with businesses. Now that they're dealing with it and having to provide the service and operate the charging stations, they're realizing that they don't want the headache. And just like they outsource almost all the services they provide, this is something they need to do as well. So we're seeing a lot of legacy customers who are buying hardware who now want us to own and operate. We're seeing a complete changeover in municipal contracts, not only here in the U.S. but globally where they don't want to operate -- they don't want to own and operate these things. They don't mind subsidizing someone and helping them put them in the ground, but they just don't want to deal with the day to day. That is a huge, massive benefit for us as compared to some of our competitors.

Sameer，我想補充一點。有一段時間，我們看到了很多企業，我們看到了很多市政當局和最初的 RFP，他們想擁有和運營硬件，就像企業一樣。現在他們正在處理它並且必須提供服務和運營充電站，他們意識到他們不想要頭痛。就像他們外包了他們提供的幾乎所有服務一樣，這也是他們需要做的事情。因此，我們看到許多正在購買硬件的老客戶現在希望我們擁有和運營。我們看到市政合同發生了徹底的轉變，不僅在美國這裡，而且在全球範圍內，他們都不想經營——他們不想擁有和經營這些東西。他們不介意資助某人並幫助他們安頓下來，但他們只是不想處理日常事務。與我們的一些競爭對手相比，這對我們來說是一個巨大的好處。

Again, that's why we have the different offerings. That's why we could sell to you or we can own it in your location. We want to make sure that we could satisfy every single customer. But we are seeing a conversion where prior owners and operators want someone else now managing that service for them. And we're seeing, again, a lot of that on the municipal side.

同樣，這就是我們提供不同產品的原因。這就是為什麼我們可以賣給你或者我們可以在你的位置擁有它。我們要確保我們能夠滿足每一位客戶。但我們看到了一種轉變，即以前的所有者和運營商希望現在有人為他們管理該服務。我們再次在市政方面看到很多這樣的事情。

Yes, yes. No, I agree. I think you are very well positioned for that kind of a scenario. Good luck for 2023 and beyond.

是的是的。不，我同意。我認為您非常適合這種情況。祝 2023 年及以後好運。

Our next question is coming from Oliver Huang with TPH.

我們的下一個問題來自 TPH 的 Oliver Huang。

Just on the owned-and-operated model, kind of a follow-up to the prior question, but you all are growing footprint, looking at the charger growth getting up to 66,000 or so. You all mentioned working on converting legacy owners of Sema chargers to the owned-and-operated model. Just wondering how that was going and was also hoping for a bit more detail in terms of how many of those chargers are revenue-generating chargers under either a Blink-owned turnkey or hybrid-owned business model and what the split between those 2 sit at today.

就自營模式而言，這是對先前問題的一種跟進，但你們都在增加足跡，看著充電器增長達到 66,000 左右。你們都提到了將 Sema 充電器的傳統所有者轉變為自有和經營模式的工作。只是想知道這是怎麼回事，也希望能提供更多細節，了解這些充電器中有多少是 Blink 擁有的交鑰匙或混合擁有的商業模式下的創收充電器，以及這兩者之間的分歧是什麼今天。

I'll jump in just a little bit and then maybe on the -- right now, there's about -- almost 5,000 chargers that are owned by us on our networks. And there's -- again, remember, the 66,000 is historical legacy that goes back over time, and it's all types of chargers, DC fast chargers, commercial chargers, private chargers, all type of chargers, home chargers, ones that are not on network and all that stuff. But we have a big portfolio that's generating obviously -- remember, it's just not the -- it's not just what we -- that's owned by us, but it's also what's in our networks. And we have over 50,000 units that are in our Blink Network that generate some revenue that's generating from network fees. So there's a bit of a split between that and what's owned and operated.

我會稍微跳一下，然後也許 - 現在，大約有 - 我們在網絡上擁有的近 5,000 個充電器。還有——再次記住，這 66,000 個是歷史遺產，可以追溯到過去，它是所有類型的充電器、直流快速充電器、商用充電器、私人充電器、所有類型的充電器、家用充電器，以及不在網絡上的充電器以及所有這些東西。但是我們有一個很大的投資組合，它顯然正在產生——記住，這不僅僅是——這不僅僅是我們——我們擁有的，但它也是我們網絡中的東西。我們的 Blink Network 中有超過 50,000 個單元，它們產生了一些來自網絡費用的收入。因此，這與擁有和經營的東西之間存在一些分歧。

Yes. So as it relates to the SemaConnect portfolio, so we are just at the beginning. So we've identified multiplicity of different site hosts that want to engage in the owner-operated model, especially as Michael said, they want to switch to the charging as a service as opposed to own and operate it themselves. So we've already won a significant contract in that area. Now we're going to accelerate this as we convert the SemaConnect network over to the Blink Network, and that's happening within 30 days today. And then we combine all the portfolios together and cross-sell to everyone.

是的。因此，由於它與 SemaConnect 產品組合相關，所以我們才剛剛開始。因此，我們已經確定了許多不同的站點主機，他們希望參與所有者經營的模式，特別是正如邁克爾所說，他們希望轉而使用收費服務，而不是自己擁有和經營。所以我們已經在那個領域贏得了一份重要合同。現在我們將在將 SemaConnect 網絡轉換為 Blink 網絡時加速這一過程，這將在今天的 30 天內發生。然後我們將所有的投資組合組合在一起並交叉銷售給每個人。

So we expose all of SemaConnect customers to the owner-op or on the hybrid model. We have a unified pricing plan, a unified product portfolio to offer them. And we're already seeing some very significant positive momentum in this area, and even things that we'll be able to talk about later on about awards that we have a high degree of confidence that we will receive as well. So all the legwork is ongoing, and it's pretty intense on both those topics. And it extends beyond. It's also penetrating the multifamily dwellings even deeper than we previously have, and making sure that everybody knows that the new company, the combined company has more products, more services, and more affordability in it based on some of the moves we're making from the manufacturing perspective. So the best is yet to come.

因此，我們將所有 SemaConnect 客戶暴露給所有者操作或混合模型。我們有一個統一的定價計劃，一個統一的產品組合來提供給他們。我們已經在這個領域看到了一些非常重要的積極勢頭，甚至我們稍後可以談論的關於獎項的事情，我們也有很高的信心，我們也會獲得這些獎項。所以所有的跑腿工作都在進行中，而且這兩個主題都非常緊張。它超越了。它還比我們以前更深入地滲透到多戶住宅中，並確保每個人都知道新公司，合併後的公司有更多的產品、更多的服務，並且基於我們正在採取的一些舉措製造業的觀點。所以最好的還在後頭。

Awesome. That's encouraging to hear. And for a second question, just on the manufacturing side of things, I think it was back mid-2022 when you all announced that deal. You'll are running close to 10,000 unit run rate. Just wanted to get a sense for where that is today, how optimally that facility is running relative to the maximum run rate that it's fully capable of?

驚人的。這是令人鼓舞的消息。關於第二個問題，就製造方面而言，我認為是在 2022 年中期你們都宣布了這筆交易。您將以接近 10,000 單位的運行率運行。只是想了解一下今天的情況，相對於它完全能夠達到的最大運行率，該設施的運行情況如何？

Yes. So what we've done is -- and again, there's 2 different things happening simultaneously. So we've increased the productivity out of Bowie already. So we pushed out between 12,000, 13,000, about to hit 14,000 units on that. We did that without adding much, right? So we're moving to a second shift out of there as we speak. And that's to push the output above 3,000 units moving it up to 4,000 per month. Then we're going to add some square footage in the similar area to get that up to the target. Now we're going to have a phased approach. We're going to get it up to 25,000, then 30,000, we're going to add more square footage, then move it on up to the 40,000 and then the 50,000 range out of that facility.

是的。所以我們所做的是——同樣，有兩件不同的事情同時發生。所以我們已經提高了 Bowie 的生產力。因此，我們推出了 12,000、13,000 台，即將達到 14,000 台。我們沒有添加太多就這樣做了，對吧？所以在我們說話的時候，我們正在從那裡轉移到第二個班次。這將推動產量超過 3,000 個單位，使其每月增加到 4,000 個。然後我們將在類似區域添加一些平方英尺以達到目標。現在我們將採用分階段方法。我們將把它增加到 25,000，然後是 30,000，我們將增加更多的平方英尺，然後將它移動到 40,000，然後是該設施的 50,000 範圍。

The one change is we elected not to do a third shift because given all the quality concerns and the inconsistency in third shift manpower, we decided to keep it at 2 instead of going to a third and just increase the square footage. So all of that is on track. And so we feel very confident about that to be able to meet the product demands of our customers from there. But in addition to that, the new manufacturing footprint calls for a minimum of 10,000 DC fast chargers and the remaining 40,000 will go also to L2 production. So we're going to build up Bowie and get that at maximum output, and then we're going to also do the manufacturing on the L2s out of the DC fast charger plant as well.

一個變化是我們選擇不進行第三班，因為考慮到所有質量問題和第三班人力的不一致，我們決定將其保持在 2 而不是三分之一，只增加平方英尺。所以這一切都在軌道上。因此，我們非常有信心能夠從那裡滿足客戶的產品需求。但除此之外，新的製造足跡需要至少 10,000 個 DC 快速充電器，其餘 40,000 個也將用於 L2 生產。因此，我們將構建 Bowie 並使其達到最大輸出，然後我們還將在 DC 快速充電器工廠之外對 L2 進行製造。

Our final question today will be coming from Chris Souther with B. Riley.

我們今天的最後一個問題將來自 Chris Souther 和 B. Riley。

I certainly appreciated the SemaConnect's cost and revenue synergies commentary. Can you talk a little bit more about the overall OpEx trajectory? I'm trying to get a sense with some of these in-progress targets, where you think leverage for EBITDA breakeven and the timing of that might shake out based on that OpEx trajectory?

我當然很欣賞 SemaConnect 的成本和收入協同效應評論。你能多談談總體運營支出軌跡嗎？我正在嘗試了解其中一些正在進行的目標，您認為 EBITDA 盈虧平衡的槓桿作用及其時機可能會根據 OpEx 軌跡發生變化？

Yes. Sure. So what you saw on the slide and what we talked about, right? So first, as it relates to FTE reduction. So we've only hit the first phase of that, right? And we will expect more of those. In Phase 2 and 3, what we're going to be examining is operational cost -- some remaining operational cost here in the U.S., but also globally and where those synergies exist. Then secondly, it's going to be the same thing we're going to do in technology and then in IT support globally. As you might imagine, we're transitioning 1 network in 30 days, than 2 more networks over the summertime. As we make those transitions, the support staff and then the folks that were working on the older network, the ones that were suppliers of the software that supported it and the sub-vendors, all those are going to be eliminated. So as we move further into 2023, you will see us having additional operational reductions.

是的。當然。那麼您在幻燈片上看到的以及我們談論的內容，對嗎？首先，因為它與 FTE 減少有關。所以我們只達到了第一階段，對吧？我們會期待更多。在第 2 和第 3 階段，我們要檢查的是運營成本——一些在美國這裡剩餘的運營成本，但也在全球範圍內以及存在這些協同效應的地方。其次，我們將在技術和全球 IT 支持方面做同樣的事情。正如您想像的那樣，我們將在 30 天內轉換 1 個網絡，而不是在夏季多轉換 2 個網絡。當我們進行這些過渡時，支持人員，然後是在舊網絡上工作的人員，支持它的軟件供應商和子供應商，所有這些都將被淘汰。因此，隨著我們進一步進入 2023 年，您將看到我們進一步削減運營。

Now additionally, as you might imagine, we did a product rationalization study, and we're moving more to some of the product out of SemaConnect. So our own manufacturing, our parts building out of India, then our assembly out of Bowie and the new site when we got it, that's at a much lower cost of goods sold. So we're going to have this additional synergy that's going to start roll in, and we're already starting to see it roll in right now. We'll report that in the next quarter where we start to make more profit off a single charger sale and win more customers because we're able to position the portfolio with the new network and the lower cost of manufacturing, give us a bigger margin, and a greater share of market.

現在，正如您可能想像的那樣，我們還進行了產品合理化研究，並且我們正在將更多的精力轉移到 SemaConnect 之外的某些產品上。所以我們自己製造，我們的零件在印度製造，然後我們在 Bowie 組裝，當我們得到它時，我們的新站點的組裝成本要低得多。所以我們將有這種額外的協同作用，它將開始出現，我們現在已經開始看到它出現了。我們將報告，在下個季度，我們將開始從單次充電器銷售中賺取更多利潤並贏得更多客戶，因為我們能夠將產品組合定位於新網絡和更低的製造成本，從而為我們帶來更大的利潤，以及更大的市場份額。

Got it. Yes. So framing all that as far as the overall OpEx for -- if we're going to use, say, the fourth quarter OpEx run rate, does that continue to grow just because there's other areas we are growing as you're netting out with those reductions?

知道了。是的。因此，就整體運營支出而言——如果我們要使用第四季度的運營支出運行率，那麼它是否會繼續增長，只是因為我們在其他領域正在增長，因為你正在與那些減少？

Yes, there's going to be some net out, but it's going to be on the lower end of the scale as well. So as you -- a lot of the reductions, and we haven't been very public, but there were a lot of high-end staff on that. And that was just due to duplication, right? You merge a company together, you have a lot of duplication in effort, right? So what you're going to see as we continue to identify staff in IT and technology and everything, we're going to have to add manufacturing staff over time and production workers and assemblers. Now we can get them depending on...

是的，會有一些淨收益，但也將處於規模的低端。所以就像你一樣 - 很多削減，我們還沒有公開，但有很多高端員工參與其中。那隻是由於重複，對吧？你把一家公司合併在一起，你有很多重複的工作，對吧？因此，隨著我們繼續確定 IT 和技術以及所有方面的員工，您將看到的是，隨著時間的推移，我們將不得不增加製造人員以及生產工人和裝配工。現在我們可以根據...

You're talking much lower-cost employees.

你說的是成本低得多的員工。

You took the words out of my mouth.

你把我的話從我嘴裡拿走了。

Exactly.

確切地。

Yes.

是的。

Brendan, let me grab this for one sec. What we're seeing now is a reduction in our expenses because of aggregating the businesses. And obviously, we're still going to grow the business because you see how much we're seeing revenue growth, how many units need to be sold, maintained, operated, and so on deployed. So the business is growing, but what we're seeing here now is still an increase in the revenues, but a decreasing in the losses. So we're getting to a very good point here in our business because that's occurring. I'm not seeing so much growth in the losses as we've done in the past. Look at the difference between third quarter of this past year -- this year third quarter of '22 versus fourth quarter of '22.

布倫丹，讓我抓住這個一秒鐘。我們現在看到的是，由於整合了業務，我們的開支有所減少。顯然，我們仍將發展業務，因為您看到我們看到了多少收入增長，需要銷售、維護、運營多少單位，等等。所以業務在增長，但我們現在在這裡看到的仍然是收入增加，但虧損減少。所以我們在我們的業務中達到了一個非常好的點，因為這正在發生。我沒有看到像過去那樣的損失增長。看看去年第三季度之間的差異——今年 22 年第三季度與 22 年第四季度。

Got it. Yes, that all makes sense. So is there any way you could frame -- you gave guidance for 2023, but targets as far as EBITDA breakeven either from a revenue run rate or a timing perspective?

知道了。是的，這一切都是有道理的。那麼，您有什麼方法可以構建——您給出了 2023 年的指導，但從收入運行率或時間角度來看，目標是 EBITDA 收支平衡？

We're going to give more visibility as the year goes along. This is us starting to give some visibility to the Street and where we're going in some guidance. And as things progress, we'll be sharing a lot more information.

隨著時間的推移，我們將提供更多的知名度。這是我們開始為華爾街提供一些可見性以及我們在某些指導中的去向。隨著事情的進展，我們將分享更多信息。

Okay. Appreciate that. And maybe just if you could break down mix between product sales and Blink-owned deployments in the quarter. Any way you could provide a total number of Blink-owned charging ports on the network when we're looking at the overall number on the network?

好的。感謝。也許只是如果你能在本季度打破產品銷售和 Blink 擁有的部署之間的組合。當我們查看網絡上的總數時，您是否可以通過任何方式提供網絡上 Blink 擁有的充電端口總數？

Yes. As I mentioned on the previous question, I don't know if that's a question or that was an [S-4]. So I'm assuming that was a question. But yes, you'll see it come out in our filings, but we have about 5,000 units that are Blink owned and then over 50,000 of our historical that are our network. So there's a big unit -- the big number on our network. Again, we added SemaConnect and had a large network, and we're seeing that being reflected in that, as you guys saw, the network revenue piece of the business growing.

是的。正如我在上一個問題中提到的，我不知道這是一個問題還是 [S-4]。所以我假設這是一個問題。但是，是的，你會在我們的文件中看到它，但我們有大約 5,000 個單位是 Blink 擁有的，然後超過 50,000 個是我們的網絡。所以有一個大單位——我們網絡上的大數字。同樣，我們添加了 SemaConnect 並擁有一個龐大的網絡，正如你們看到的那樣，我們看到這一點反映在業務增長的網絡收入部分。

And one of the things that Michael mentioned is every time we start growing our own and operated business, and we think it's going to outpace our host [sales] business, selling the equipment to a third party, we get large orders that change those dynamics. And I want to be very clear. Today, we're seeing single orders that are larger in size than revenues we did even just a couple years ago. That's where the scale and size of this business is going. And again, I'm not going to say we're winning all these orders, but we're very competitive. We have amazing hardware. We have amazing equipment. Our Level 2s are made in the U.S. There are very few, if any, Level 2s made in the U.S. It puts us in a position to get certain contracts and orders that others can't compete in because their stuff is not made in the U.S. And we're in a very, very, very good position. But again, as soon as our own and operate business comes in, we have large outside orders that then put a substantial amount of that business in the host owned. Again, it's good for us. It's a hardware sale, and then we have recurring revenues. We typically have $18 a month connectivity fees and then we have about 8% processing fees. And $18, it costs us like $3, $4. That's it. So there's huge margins in that business.

邁克爾提到的一件事是，每次我們開始發展自己和經營的業務時，我們認為它會超過我們的主機 [銷售] 業務，將設備出售給第三方，我們會收到大訂單，從而改變這些動態.我想說得很清楚。今天，我們看到單筆訂單的規模甚至超過了我們幾年前的收入。這就是這項業務的規模和規模的發展方向。再一次，我不會說我們贏得了所有這些訂單，但我們非常有競爭力。我們擁有驚人的硬件。我們有驚人的設備。我們的 Level 2 是在美國製造的。在美國製造的 Level 2 很少（如果有的話）。這使我們能夠獲得某些其他人無法競爭的合同和訂單，因為他們的東西不是在美國製造的。我們處於非常、非常、非常好的位置。但同樣，一旦我們自己和經營的業務進入，我們就會有大量的外部訂單，然後將大量的業務投入東道主所有。同樣，這對我們有好處。這是硬件銷售，然後我們有經常性收入。我們通常每月收取 18 美元的連接費，然後收取大約 8% 的處理費。 18 美元，我們花了 3 美元、4 美元。就是這樣。因此，該業務的利潤率很高。

When you look at the processing fees, it's about 8% and about half of it goes to (inaudible) and the rest is ours. So these are very, very lucrative lines of business. And it allows us -- what's most important is to be able to service every single customer, no matter what they are. And it allows us to have major companies that manage different properties, whether it's McDonald's or CBRE or any of the others that we work with, they want to have [aesthetic] consistency, 1 vendor to work with, but they want to be able to deploy equipment at all different types of property owners who have different models of deploying capital at their locations. And having the variety of models is so important to us. And if we have to sell it, we'll sell it. And if we have the ability to own and operate it, that's what we'll do. And there are times when the property owner wants to make the capital improvements, but they don't want to deal with the technology or dealing with managing the service, and we're there for that also.

當您查看處理費時，它大約是 8%，其中大約一半用於（聽不清），其餘的是我們的。所以這些都是非常非常有利可圖的業務線。它使我們——最重要的是能夠為每一位客戶提供服務，無論他們是什麼。它使我們能夠擁有管理不同財產的大公司，無論是麥當勞、世邦魏理仕還是與我們合作的任何其他公司，他們希望具有[審美]一致性，與一家供應商合作，但他們希望能夠在所有不同類型的財產所有者處部署設備，這些財產所有者在其所在地具有不同的資本部署模型。擁有多種型號對我們來說非常重要。如果我們必須賣掉它，我們就會賣掉它。如果我們有能力擁有和運營它，我們就會這麼做。有時業主想要進行資本改進，但他們不想處理技術或處理管理服務，而我們也在那裡。

So having the flexibility and the viability -- the flexibility and as many models as we have really allows us to just really grow in size and scale. Look at the amount of units and locations we're getting both from an owned and operate perspective and host owned. Our growth is -- our growth percentage is second to none in the industry right now. We'll stand against anybody. Looking from a revenue scale, how many units we're putting in the ground, we're growing a lot faster on a percentage basis than almost all of our peers. And the reason why is the flexibility we have and the ability to satisfy all the customers that we can.

因此，具有靈活性和可行性——靈活性和我們擁有的盡可能多的模型真的讓我們能夠真正地擴大規模和規模。從擁有和運營的角度以及主機擁有的角度來看我們獲得的單位和位置的數量。我們的增長是 - 我們的增長百分比目前在行業中首屈一指。我們會反對任何人。從收入規模來看，我們投入了多少單位，我們的增長速度比幾乎所有同行都快得多。原因是我們擁有的靈活性和滿足所有客戶的能力。

Thank you. As that was the last question, it does conclude today's call. We thank you for your participation. You may disconnect your lines at this time, and we wish you a wonderful day. Thank you.

謝謝。由於這是最後一個問題，今天的電話會議到此結束。我們感謝您的參與。您此時可以斷開線路，我們祝您度過愉快的一天。謝謝。

Thank you.

謝謝。

Thank you.

謝謝。