Blink Charging Co (BLNK) 2023 Q4 法說會逐字稿

Good day, ladies and gentlemen, and welcome to the Blink Charging company fourth-quarter and year-end 2023 earnings conference call.

女士們、先生們，美好的一天，歡迎參加 Blink Charging 公司第四季和 2023 年底的收益電話會議。

(Operator Instructions) It is now my pleasure to turn the floor over to your host, Vitalie Stelea, Vice President of Investor Relations.

（操作員說明）現在我很高興將發言權交給東道主投資者關係副總裁 Vitalie Stelea。

Sir, the floor is yours.

先生，地板是你的了。

Thank you, Allie.

謝謝你，艾莉。

Welcome to Blink's fourth quarter 2023 earnings call.

歡迎參加 Blink 2023 年第四季財報電話會議。

On this call today, we have Brendan Jones, President and Chief Executive Officer; and Michael Rama, Chief Financial Officer.

出席今天的電話會議的有總裁兼執行長布倫丹瓊斯 (Brendan Jones)；和首席財務官邁克爾·拉瑪。

Today's discussions will include non-GAAP references.

今天的討論將包括非公認會計準則參考。

These are reconciled to the most comparable US GAAP measures in the appendix of our earnings deck.

這些數據與我們收益表附錄中最具可比性的美國公認會計準則衡量標準進行了調整。

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

您可以在 Blink 的投資者關係網站上找到該簡報以及我們其餘的獲利資料和其他重要內容。

Today's discussions may also include forward-looking statements about our expectations.

今天的討論也可能包括有關我們期望的前瞻性陳述。

Actual results may differ from those stated.

實際結果可能與所述結果不同。

The most significant factors that could cause actual results to differ are included on page 2 of the fourth-quarter 2023 earnings deck.

可能導致實際結果差異的最重要因素包含在 2023 年第四季財報的第 2 頁。

Unless otherwise noted, all comparisons are year over year.

除非另有說明，所有比較均為逐年比較。

Now regarding the investor relations calendar, Blink will be participating in taking one-on-one investor meetings at a few upcoming conferences.

現在關於投資者關係日曆，Blink 將參加一些即將舉行的會議上的一對一投資者會議。

The first one will be the ROTH MKM Investor Conference in Dana Point, California on the 17th of March.

第一場將於 3 月 17 日在加州達納角舉行 ROTH MKM 投資者會議。

The second one will be J.P. Morgan Energy Conference on the 17th of June in New York City.

第二場將於 6 月 17 日在紐約舉行摩根大通能源會議。

Please follow our announcements and the Investor Relations website for additional events that we will book in the future.

請關注我們的公告和投資者關係網站，以了解我們未來將預訂的其他活動。

I will turn the call now over to Brendan Jones, President and CEO of Blink Charging.

我現在將把電話轉給 Blink Charging 總裁兼執行長 Brendan Jones。

Go ahead, Brendan.

繼續吧，布倫丹。

Thanks, Vitalie, and good afternoon, everyone.

謝謝維塔莉，大家下午好。

Thank you for joining us on this call today.

感謝您今天參加我們的電話會議。

Well, to sum it up, 2023 was a historic year for Blink.

嗯，總而言之，2023 年對 Blink 來說是歷史性的一年。

It was marked by significant achievements and exponential growth.

它的特點是取得了重大成就和指數級成長。

Now as some of you know, Blink, over the past four years, has successfully integrated six strategic acquisitions.

現在，正如你們中的一些人所知，Blink 在過去四年中已經成功整合了六次策略收購。

And in 2023, we began to demonstrate the powerful consolidated potential of the Blink's enterprises.

而在2023年，我們開始展現Blink企業強大的整合潛力。

Now not only did we leverage our advanced product portfolio and services, but we also began to see tangible benefits from our newly enhanced network launched in 2022.

現在，我們不僅利用了先進的產品組合和服務，而且還開始看到 2022 年推出的新增強網路帶來的實際好處。

Organizationally, we are emphasizing a culture of continuous improvement and have begun to observe synergies and efficiencies that positively impacted 2023 results across all of our businesses.

在組織方面，我們強調持續改善的文化，並已開始觀察對我們所有業務 2023 年業績產生正面影響的協同效應和效率。

Operationally, we streamlined our sales, engineering, logistics, and distribution while expanding our manufacturing footprint near Washington, D.C. to capitalize on additional synergies and opportunities for cost optimization and a little more on that later in this presentation.

在營運方面，我們簡化了銷售、工程、物流和分銷，同時擴大了華盛頓特區附近的製造足跡，以利用額外的協同效應和成本優化機會，本演示稍後將對此進行更多介紹。

Now if we move to the numbers, as illustrated on slides 4 and 5, our total revenues were $140.6 million, marking an impressive year-over-year growth of 130% and a remarkable [7-fold] increase compared to 2020 revenues.

現在，如果我們轉向數字，如幻燈片 4 和 5 所示，我們的總收入為 1.406 億美元，同比增長 130%，令人印象深刻，與 2020 年收入相比顯著增長 [7 倍]。

Now let's talk about that again, 7-fold increase in just two years.

現在我們再說一遍，短短兩年就成長了7倍。

Our fourth quarter 2023 revenues were a Q4 record of $42.7 million, representing a year-over-year increase of 89%.

我們 2023 年第四季的營收達到創紀錄的 4,270 萬美元，年增 89%。

Our 2023 service revenues grew at 111% year over year, amounting to $26.4 million.

我們 2023 年的服務收入年增 111%，達到 2,640 萬美元。

Now within this figure, network fees grew 71% to $7.5 million, and Q4 2023 service revenue reached $7.9 million.

在這個數字中，網路費用增加了 71%，達到 750 萬美元，2023 年第四季的服務收入達到 790 萬美元。

And even better news from a financing perspective, if you flip to slide 6, we previously discussed raising additional funds to guide Blink towards profitability.

從融資角度來看，更好的消息是，如果翻到投影片 6，我們之前討論過籌集額外資金以引導 Blink 實現盈利。

I am pleased to announce that we substantially strengthened Blink's balance sheet by raising $113 million in gross proceeds via our existing ATM facility.

我很高興地宣布，我們透過現有的 ATM 設施籌集了 1.13 億美元的總收益，大幅增強了 Blink 的資產負債表。

We took advantage of favorable market conditions and did it opportunistically at scale and in a very, very cost-effective way.

我們利用有利的市場條件，以一種非常非常具有成本效益的方式大規模地進行機會主義。

As a result, we delevered our balance sheet and significantly reduced our interest expense by paying off promissory notes and accrued interest of $45.5 million.

因此，我們降低了資產負債表的槓桿率，並透過償還 4,550 萬美元的期票和應計利息，大幅減少了利息支出。

With our current visibility, we anticipate that our existing cash balance will be sufficient to reach our positive EBITDA adjusted rate target in December of '24 and beyond.

以我們目前的能見度，我們預計我們現有的現金餘額將足以在 2024 年 12 月及以後達到我們的正 EBITDA 調整後利率目標。

If we then look at slide 7, for full year 2024, we are targeting revenues between $165 million to $175 million and a gross margin of approximately 33%.

如果我們再看一下投影片 7，我們的目標是 2024 年全年營收在 1.65 億美元至 1.75 億美元之間，毛利率約為 33%。

We are also reconfirming our target of achieving positive adjusted EBITDA run rate by December of 2024.

我們也再次確認 2024 年 12 月實現正向調整 EBITDA 運作率的目標。

Now let's jump over to slide 8.

現在讓我們跳到幻燈片 8。

We show the different actions that continue to materialize -- that will continue to materialize, excuse me, in 2024 to achieve our adjusted EBITDA target.

我們展示了繼續實現的不同行動——對不起，這些行動將在 2024 年繼續實現，以實現我們調整後的 EBITDA 目標。

Sourced solid revenue growth is expected to contribute significantly to adjusted EBITDA.

預計穩健的收入成長將對調整後的 EBITDA 做出重大貢獻。

We emphasize not only the sales quantity but also the quality of new customers, especially fleets as they play a crucial role in financing our company's growth.

我們不僅強調銷售數量，還強調新客戶的質量，尤其是車隊，因為他們在為我們公司的發展提供資金方面發揮著至關重要的作用。

During 2023, we saw important fleet wins in the United States, including the Post Office and that Mack Trucks just to name a few.

2023 年，我們在美國見證了重要的車隊勝利，其中包括 Post Office 和 Mack Trucks 等。

We also prioritized revenue generated from our existing customers as an optimal way to finance growth.

我們也優先考慮從現有客戶產生的收入，作為融資成長的最佳方式。

Second, we anticipate gross margin improvements as we continue to in-source a large portion of our product mix.

其次，隨著我們持續內購大部分產品組合，我們預期毛利率會有所改善。

Our decision to expand our Bowie, Maryland facility aligns perfectly with our growth strategy, and we are very pleased to have the facility open with production underway.

我們擴建馬裡蘭州鮑伊工廠的決定完全符合我們的成長策略，我們很高興工廠開業並開始生產。

Third, expense management and cost avoidance are currently underway throughout the entire company.

第三，目前整個公司正在進行費用管理和成本規避。

We've also implemented a leading software tool to assist in planning and monitoring expenses at all levels of the company.

我們也實施了領先的軟體工具來協助規劃和監控公司各級的費用。

We are pleased with this capability as it enables robust scenario planning and accountability for every department.

我們對這項功能感到滿意，因為它為每個部門提供了強大的場景規劃和問責制。

And finally, we anticipate the EV market to maintain its recent momentum, benefiting not only Blink, but more importantly, the entire industry.

最後，我們預計電動車市場將保持近期的勢頭，這不僅使 Blink 受益，更重要的是使整個產業受益。

If we move on to page now, despite various media stories, we remain very optimistic about the EV market and the continued growth.

如果我們現在進入頁面，儘管有各種媒體報道，我們仍然對電動車市場及其持續成長非常樂觀。

This optimism is fueled by the decreasing cost of electric vehicles and the continuous expansion and improvement of charging infrastructure.

電動車成本的下降以及充電基礎設施的不斷擴大和完善加劇了這種樂觀情緒。

The network effect is now taking hold.

網路效應現已顯現。

Now look at the numbers.

現在看看數字。

In 2023, EVs accounted for one of every five vehicles sold globally.

到 2023 年，電動車佔全球銷量的五分之一。

In the US, in 2023, we saw an increase in EV adoption, accounting for 8% of all new cars sold within the United States.

在美國，到 2023 年，我們看到電動車的採用率增加，占美國境內銷售的所有新車的 8%。

Now if we look at California, EVs represented 25% of all new car sales.

現在，如果我們看看加州，電動車佔所有新車銷量的 25%。

To provide context, Bloomberg New Energy Finance anticipates EV penetration in the US to reach approximately 13% in 2023, marking a significant 500 basis points in expansion in Just one year.

為了提供背景訊息，彭博新能源財經預計 2023 年美國電動車的普及率將達到約 13%，這標誌著短短一年內大幅擴張 500 個基點。

Now in Europe, another region where we are active and have three different offices, the EV penetration rate throughout the entire European concept stood at 18% of car sales.

現在，在歐洲，我們活躍並擁有三個不同辦公室的另一個地區，整個歐洲概念中的電動車滲透率佔汽車銷量的 18%。

But if we start to split this up and look at various countries, France, UK, Ireland, Germany, the Netherlands and Belgium, the percentage is much higher.

但如果我們開始將其分開並觀察不同的國家，法國、英國、愛爾蘭、德國、荷蘭和比利時，這個百分比要高得多。

This figure is projected to rise across both Western and Eastern Europe at about 22% in 2024, with a target of 80% by 2030.

預計到 2024 年，西歐和東歐的數字將成長約 22%，目標是到 2030 年達到 80%。

And we know that's a big number, but it's really not that far-fetched.

我們知道這是一個很大的數字，但實際上並不是那麼牽強。

As many of you may know, about 90% of all cars sold in Norway are EVs.

很多人可能都知道，挪威銷售的所有汽車中約 90% 是電動車。

Several larger European countries are closely monitoring this trend, and we at Blink are actively studying and adapting to this evolving landscape.

幾個較大的歐洲國家正在密切關注這一趨勢，我們 Blink 正在積極研究和適應這一不斷變化的情況。

Now let's turn to page 10.

現在我們翻到第10頁。

The proliferation of EV globally requires rapid improvement in EV charging infrastructure.

電動車在全球的普及需要電動車充電基礎設施的快速改善。

According to McKinsey's new data, the United States is projected to have over $28 million chargers by 2030, and that's from a bit over $4 million today.

根據麥肯錫的最新數據，預計到 2030 年，美國充電器的價值將超過 2,800 萬美元，而目前的價格略高於 400 萬美元。

The global market is expected to grow at a 25% CAGR through 2030.

預計到 2030 年，全球市場將以 25% 的複合年增長率成長。

And the investment required for this is expected to be about $260 billion.

而這所需的投資預計約為2,600億美元。

And if you look across all major research done in this area, it doesn't matter whether it's McKinsey, PricewaterhouseCooper, or Bloomberg, most chargers are expected to be Level 2 chargers because drivers will mainly charge vehicles where the vehicle will idle most of the time.

如果你縱觀這一領域的所有主要研究，無論是麥肯錫、普華永道還是彭博社，大多數充電器預計都是2 級充電器，因為駕駛員主要在車輛大部分時間閒置的情況下為車輛充電。時間。

This is backed by the US Department of Transportation, which shows that, on average, vehicles [sit] about 95% of the time.

這項措施得到了美國交通部的支持，該數據表明，平均而言，車輛在大約 95% 的時間裡[停著]。

On page 11 in terms of deployments, since Blink's inception, we have sold contracted or deployed 89,825 charges. 78% of this is in North America, with the majority of the remaining charges are in Europe.

在第 11 頁的部署方面，自 Blink 成立以來，我們已銷售或部署了 89,825 個費用。其中 78% 發生在北美，其餘大部分發生在歐洲。

Now on to slide 12, you will see images of our advanced product portfolio.

現在轉到投影片 12，您將看到我們先進產品組合的圖片。

Today, we can satisfy the demands of any customer from a product and software perspective.

今天，我們可以從產品和軟體的角度滿足任何客戶的需求。

Our versatile Level 2 chargers are used in multiple commercial, residential, and fleet applications.

我們的多功能 2 級充電器可用於多種商業、住宅和車隊應用。

At the same time, we have made significant strides with our DC Fast Charger as you can see on the lower left section of the slide.

同時，我們在直流快速充電器方面取得了重大進展，如幻燈片左下部分所示。

And importantly, our chargers already support the North American Charging Standard or NACS, which we believe will only benefit Blink as more drivers will be able to easily access Blink chargers and charge on our chargers.

重要的是，我們的充電器已經支援北美充電標準（NACS），我們相信這只會讓 Blink 受益，因為更多的駕駛者將能夠輕鬆使用 Blink 充電器並在我們的充電器上充電。

And of a particular note, just this week, we celebrated the grand opening of our new manufacturing facility near Washington, D.C., which will further drive our gross margin expansion while improving product quality and reliability.

特別值得注意的是，就在本週，我們慶祝了華盛頓特區附近新製造工廠的盛大開業，這將進一步推動我們的毛利率擴張，同時提高產品品質和可靠性。

Federal, state and local government officials were present to celebrate with us this significant milestone.

聯邦、州和地方政府官員出席，與我們一起慶祝這一重要的里程碑。

And if you look at slide 13, we look forward to supporting government programs when it comes to electrifying their fleets and providing EV charging infrastructure in their jurisdictions.

如果你看幻燈片 13，我們期待支持政府項目，使其車隊電氣化並在其管轄範圍內提供電動車充電基礎設施。

Now the production that is underway at the facility embodies the latest lean manufacturing practices, focusing on efficiency and continuous improvement.

現在，該工廠正在進行的生產體現了最新的精益製造實踐，注重效率和持續改進。

We anticipate that it will support an annual production capacity of up to 50,000 chargers and has been designed for flexibility to adapt to our future products and manufacturing needs.

我們預計它將支援高達 50,000 個充電器的年生產能力，並且設計靈活，可適應我們未來的產品和製造需求。

Now of a new announcement, in addition to the manufacturing facility, we have established our global headquarters at the same location near the nation's capitol.

現在，根據新的公告，除了製造工廠外，我們還在美國國會大廈附近的同一地點設立了全球總部。

We believe this offers multiple benefits.

我們相信這會帶來多種好處。

It brings us closer to our manufacturing operations, allows for a better team engagement, and brings us closer to some of our largest customers.

它使我們更接近我們的製造業務，允許更好的團隊參與，並使我們更接近一些最大的客戶。

Furthermore, being located near policymakers involved in shaping the federal government's transition to electric vehicles is advantageous as we continue to play a pivotal role in this transformative journey.

此外，靠近參與制定聯邦政府向電動車過渡的政策制定者是有利的，因為我們將繼續在這次變革之旅中發揮關鍵作用。

Now if we go to slide 14, over the years, Blink was able to acquire a number of prominent customers and collaborations with some of the largest fleets globally, automotive companies, commercial and multifamily real estate enterprises, as well as prominent hospitality venues.

現在，如果我們轉到幻燈片 14，多年來，Blink 能夠獲得許多知名客戶，並與全球一些最大的車隊、汽車公司、商業和多戶型房地產企業以及著名的酒店場所合作。

In 2024 and beyond, we will be added to this list of prominent customers.

2024 年及以後，我們將被加入這份傑出客戶名單。

Now with this, I'm going to turn the presentation now over to our CFO, Michael Rama, to give you some additional financial detail.

現在，我將把簡報交給我們的財務長 Michael Rama，為您提供一些額外的財務細節。

Michael?

麥可？

Thank you, Brendan, and good afternoon, everyone.

謝謝布倫丹，大家下午好。

Now turning to slide 16, our Q4 2023 revenues grew 89% year over year to $42.7 million, another record fourth quarter for Blink.

現在轉向投影片 16，我們 2023 年第四季的營收年增 89%，達到 4,270 萬美元，這是 Blink 另一個創紀錄的第四季營收。

Total revenues for 2023 was an absolute record at $140.6 million, a 130% increase compared to $61.1 million for the full year of 2022.

2023 年的總收入達到 1.406 億美元，創下絕對紀錄，與 2022 年全年的 6,110 萬美元相比增長了 130%。

As Brendan mentioned earlier, only two years ago, our 2021 full year revenues were nearly $21 million, which represents about 15% of current 2023 full year revenues of $140.6 million.

正如 Brendan 先前提到的，僅兩年前，我們 2021 年全年收入接近 2,100 萬美元，約佔目前 2023 年全年收入 1.406 億美元的 15%。

Now product revenues for the fourth quarter of 2023 were $33.4 million, an increase of 112% over the same period in 2022.

現在2023年第四季的產品收入為3,340萬美元，比2022年同期成長112%。

Product revenues for the full year of 2023 were $109.4 million, an increase of 138% when compared with full year 2022.

2023年全年產品營收為1.094億美元，較2022年全年成長138%。

These increases were driven by strong demand for our commercial Level 2 chargers and DC fast Chargers as well as our ability to satisfy increasing levels of demand.

這些成長是由於對我們的商用 2 級充電器和直流快速充電器的強勁需求以及我們滿足不斷增長的需求的能力所推動的。

Fourth quarter 2023 service revenues, which consist of charging service revenues, network fees, car sharing revenues, were $7.9 million, an increase of 40% compared to the fourth quarter of 2022.

2023年第四季服務收入（含充電服務收入、網路費用、汽車共享收入）為790萬美元，較2022年第四季成長40%。

Full year 2023 service revenues more than doubled to $26.4 million, representing a year-over-year growth of 111%, driven by greater utilization of our chargers, increased number of charges on Blink's networks and revenues associated with the Blink's mobility car sharing program.

2023 年全年服務收入成長了一倍多，達到2,640 萬美元，年增111%，這得益於我們的充電器利用率的提高、Blink 網路充電次數的增加以及與Blink 行動汽車共享計劃相關的收入。

We break out these service revenue lines to differentiate between products and service businesses more accurately.

我們對這些服務收入線進行了細分，以更準確地區分產品和服務業務。

Now turning to gross profit.

現在轉向毛利。

Gross profit increased 63% to $10.6 million or 25% of revenues in the fourth quarter of 2023 compared to gross profit of $6.5 million or 29% of revenues in the fourth quarter of 2022.

2023 年第四季的毛利成長了 63%，達到 1,060 萬美元，佔營收的 25%，而 2022 年第四季的毛利為 650 萬美元，佔營收的 29%。

Gross margin decreased in the fourth quarter of 2023 when compared sequentially to the third-quarter 2023 due to increased year and warranty and maintenance expenditures as well as adjustments related to discontinued components.

與 2023 年第三季相比，2023 年第四季的毛利率有所下降，原因是年份、保固和維護支出增加以及與停產組件相關的調整。

Now excluding the impact of these items, the gross margin for Q4 2023 would have been approximately 30%.

現在排除這些項目的影響，2023 年第四季的毛利率約為 30%。

Gross profit for the full year of 2023 increased by 172% to $40.2 million or 29% of revenues compared to gross profit of $14.8 million or 24% in the full year of 2022.

2023 年全年毛利成長 172%，達到 4,020 萬美元，佔營收的 29%，而 2022 年全年毛利為 1,480 萬美元，佔營收的 24%。

Gross margin for the full year of 2023 increased when compared to the full year of 2022, primarily due to higher mix of in-house manufactured units, which carry a higher margin and increased utilization of charger.

與 2022 年全年相比，2023 年全年的毛利率有所增加，這主要是由於內部製造的設備組合增加，其利潤率更高，並且充電器利用率提高。

Now turning to operating expenses.

現在轉向營運費用。

Operating expenses in the fourth quarter of 2023 decreased 16% to $28.7 million compared to $34.2 million in the fourth quarter of 2022, while we grew quarterly revenues by 89% year over year.

2023 年第四季的營運費用下降 16%，至 2,870 萬美元，而 2022 年第四季的營運費用為 3,420 萬美元，而季度收入則是年增 89%。

Most of the decrease in operating expenses was driven by a 27% reduction in year-over-year compensation expense for 2023.

營運費用下降的主要原因是 2023 年薪資費用年減 27%。

Operating expenses for the full year of 2023 was $239.9 million compared to $104.1 million for the full year of 2022.

2023 年全年營運費用為 2.399 億美元，而 2022 年全年營運費用為 1.041 億美元。

The increase in operating expenses for the full year is primarily driven by $105.9 million related to a non-cash goodwill and intangible assets impairment charge, as well as the impact of one-time non-recurring payments to our former CEO and a non-recurring bonus related to the performance milestones achieved by our CTO relate to the design and launch of Blink's recently implemented new network.

全年營運費用的增加主要是由於與非現金商譽和無形資產減損費用相關的 1.059 億美元，以及向我們的前執行長一次性非經常性付款和非經常性付款的影響與我們的CTO 所實現的績效里程碑相關的獎金與Blink 最近實施的新網路的設計和發布有關。

It is very important to mention here that these impairment charges are non-cash, and they do not impact our operations in any way, shape, or form.

在此必須提及的是，這些減損費用是非現金的，它們不會以任何方式、形式或形式影響我們的營運。

Excluding the impact of the $105.9 million non-cash impairment charge and one-time compensation-related items, the operating expense for full year 2023 would have been $134 million.

排除 1.059 億美元非現金減損費用和一次性補償相關項目的影響，2023 年全年營運費用將為 1.34 億美元。

Now as a percentage of revenues, this amount represents a reduction of approximately 7,500 basis points, while revenues increased by 130% year over year.

目前，這筆金額佔收入的百分比減少了約 7,500 個基點，而收入則年增了 130%。

Of note, 2023 operating expenses include $3 million of expenses for our 2023 acquisition of Envoy.

值得注意的是，2023 年營運費用包括我們 2023 年收購 Envoy 的 300 萬美元費用。

Now adjusted EBITDA for the fourth quarter of 2023 was a loss of $14 million compared to a $14.8 million in the prior-year period.

目前，2023 年第四季調整後 EBITDA 虧損 1,400 萬美元，而去年同期為 1,480 萬美元。

As a percentage of revenues, our adjusted EBITDA metric improved nearly 3,200 basis points compared to Q4 2022.

與 2022 年第四季相比，我們調整後的 EBITDA 指標佔營收的百分比提高了近 3,200 個基點。

This is a 50% improvement year over year, reinforcing our trajectory to positive adjusted EBITDA run rate by December of this year.

這比去年同期提高了 50%，鞏固了我們在今年 12 月實現正調整 EBITDA 運行率的軌跡。

Now adjusted EBITDA for the full year of 2023 was a loss of $57 million compared to an adjusted EBITDA loss of $60.3 million in the full year of 2022.

目前，2023 年全年調整後 EBITDA 虧損 5,700 萬美元，而 2022 年全年調整後 EBITDA 虧損 6,030 萬美元。

The adjusted EBITDA for the 3- and 12-month periods ended December 31, 2023, exclude the impact of stock-based compensation acquisition related costs, one-time non-recurring expenses, non-cash impairment charges, and non-cash loss on extinguishment of notes payable.

截至 2023 年 12 月 31 日的 3 個月和 12 個月期間的調整後 EBITDA 不包括股票補償收購相關成本、一次性非經常性費用、非現金減值費用和非現金損失的影響應付票據的消滅。

As Brendan mentioned earlier, several factors are expected to get us to positive adjusted EBITDA run rate by the end of this year, including revenue growth, expense management, and cost avoidance actions that are materialized based on our actions to rationalize our operations, consolidate facilities, and support functions, and [build scale can tailor] my manufacturing and sales process.

正如布倫丹之前提到的，預計有幾個因素將使我們在今年年底前實現正調整後的EBITDA 運行率，包括收入增長、費用管理和成本規避行動，這些行動是基於我們的營運合理化、整合設施的行動而實現的。和支援功能，以及[建造規模可以客製化]我的製造和銷售流程。

Earnings per share for the fourth quarter of 2023 was a loss of $0.28 per share compared to a loss of $0.55 per share in the prior-year period.

2023 年第四季每股收益為每股虧損 0.28 美元，而去年同期為每股虧損 0.55 美元。

For the full year 2023, earnings per share was a loss of $3.21 per share compared to a loss of $1.95 per share for the full year of 2022.

2023 年全年每股收益為每股虧損 3.21 美元，而 2022 年全年每股虧損為 1.95 美元。

Please note that the impact of the non-cash accounting adjustments to our goodwill intangible assets, combined with the one-time compensation charges to our CTO and former CEO, negatively impacted year-to-date earnings per share by $1.60.

請注意，對我們的商譽無形資產進行非現金會計調整的影響，加上對我們的首席技術官和前首席執行官的一次性補償費用，對年初至今的每股收益產生了1.60 美元的負面影響。

Now adjusted earnings per share for the fourth quarter of 2023 was a loss of $0.28 compared to adjusted earnings per share loss of $0.41 in the fourth quarter of 2022.

目前，2023 年第四季調整後每股盈餘虧損 0.28 美元，而 2022 年第四季調整後每股盈餘虧損 0.41 美元。

Adjusted earnings per share for the full year 2023 was a loss of $1.42 compared to an adjusted EPS loss of $1.65 in the full year of 2022.

2023 年全年調整後每股盈餘虧損 1.42 美元，而 2022 年全年調整後每股盈餘虧損 1.65 美元。

Non-GAAP adjusted earnings per share is defined as adjusted net income, which excludes the impact of stock-based compensation, acquisition-related costs, onetime non-recurring expenses, non-cash impairment charges, and non-cash loss on extinguishing of notes payable divided by the weighted average shares outstanding.

非公認會計準則調整後每股收益定義為調整後淨利潤，其中不包括股票薪酬、收購相關成本、一次性非經常性費用、非現金減值費用以及票據註銷的非現金損失的影響應付帳款除以已發行股票的加權平均數。

Now turning to slide 17, you can see that Blink has made tremendous progress in growing our revenue base over the last two years.

現在轉到投影片 17，您可以看到 Blink 在過去兩年中在擴大我們的收入基礎方面取得了巨大進步。

Our revenue has grew 671% in just two years.

我們的收入在短短兩年內成長了 671%。

At the same time, we have more than doubled our gross margin from 14% in 2021 to 29% in 2023 and currently target targeting our gross margin of approximately 33% for 2024.

同時，我們的毛利率從 2021 年的 14% 增加了一倍多，到 2023 年達到 29%，目前的目標是 2024 年毛利率約為 33%。

Now moving to our cash position.

現在轉向我們的現金狀況。

As of December 31, 2023, cash and cash equivalents totaled $121.7 million, an increase of $85 million compared to December 31, 2022, and a $55 million compared to the $66.7 million at September 30, 2023.

截至2023年12月31日，現金及現金等價物總額為1.217億美元，較2022年12月31日增加8,500萬美元，較2023年9月30日的6,670萬美元增加5,500萬美元。

In the fourth quarter of 2020 2023, we raised $88 million in gross proceeds via the existing ATM.

2020-2023 年第四季度，我們透過現有 ATM 籌集了 8,800 萬美元的總收益。

Furthermore, during the first quarter of 2024, we raised gross proceeds of an additional $25 million via the ATM.

此外，在 2024 年第一季度，我們透過 ATM 額外籌集了 2,500 萬美元的總收益。

In total, between November 20, 2023 and February 12, 2024, Blink raised $113 million in gross proceeds via the existing ATM.

2023年11月20日至2024年2月12日期間，Blink透過現有ATM總共籌集了1.13億美元的總收益。

We accessed the market opportunistically at scale and at a very cost-effective terms for Blink.

對於 Blink，我們以極具成本效益的條件大規模地進入市場。

And as a result, we were able to pay off promissory notes and accrued interest in the amount of $45.5 million, which delevered the balance sheet to avoid significant ongoing interest costs as well as accelerate Blink's path towards profitability.

結果，我們能夠償還 4550 萬美元的期票和應計利息，從而降低了資產負債表的槓桿率，避免了持續的巨額利息成本，並加速了 Blink 的盈利之路。

We are very pleased to have closed fiscal 2023 with record fourth quarter and record full year results.

我們很高興以創紀錄的第四季和創紀錄的全年業績結束 2023 財年。

We believe the charging and infrastructure industry is an inflection point, and we're building a solid foundation for Blink's continued, and more importantly, profitable growth.

我們相信充電和基礎設施產業是一個轉捩點，我們正在為 Blink 的持續、更重要的是獲利成長奠定堅實的基礎。

I will turn the call back over to Brendan for his final commentary.

我會將電話轉回布倫丹以聽取他的最後評論。

Go ahead, Brendan.

繼續吧，布倫丹。

Thank you, Michael.

謝謝你，麥可。

So I think you all can see that without a doubt, 2023 marked a truly transformative year for Blink.

所以我想大家都可以看到，毫無疑問，2023 年對 Blink 來說是真正改變的一年。

We couldn't be prouder of our team and the accomplishments for the year of 2023.

我們對我們的團隊和 2023 年的成就感到無比自豪。

But we said a lot today, so let's recap really quickly here and get to the more salient points.

但我們今天說了很多，所以讓我們快速回顧一下並討論更重要的要點。

Our revenues surged to over $140 million, accompanied by an industry-leading gross margin of 29% in 2023.

2023 年，我們的收入飆升至超過 1.4 億美元，毛利率達到業界領先的 29%。

Additionally, as Michael just iterated, we took advantage of favorable market conditions and capitalized billing by raising $113 million in cost effective financing.

此外，正如麥可剛才重申的那樣，我們利用有利的市場條件和資本化帳單，透過具有成本效益的融資籌集了 1.13 億美元。

We significantly reduced our debt obligation and the burden of interest expense on free cash flow.

我們大幅減少了債務負擔和自由現金流的利息支出負擔。

Now we didn't just do that.

現在我們不只是這樣做了。

But then when you go further at the operational level, if you look at slide 19 and 2023, we materially expanded our U.S. manufacturing with the recent grand opening of our facility near the nation's capitol.

但是，當您進一步了解營運層面時，如果您查看幻燈片 19 和 2023 年，您會發現，隨著最近在美國國會大廈附近盛大開業，我們大幅擴展了美國的製造業。

This allowed this allowed and is allowing blank to consolidate five of our U.S. facilities down to two, while increasing production from a operating in logistics and network perspective, we further consolidated, we also consolidated sales of back office functions to reduce operating expenses and improve efficiencies.

這使得這允許並且正在允許空白將我們的五個美國工廠整合為兩個，同時從物流和網絡運營的角度增加產量，我們進一步整合，我們還整合了後台功能的銷售，以減少運營費用並提高效率。

And then the last one is we have integrated and rebranded our legacy companies have electric blue and Blue corn or who are now Blink's UK and bling Belgium and we're not done yet as we move into 2024.

最後一件事是，我們已經整合並重新命名了我們的傳統公司，例如電藍色和藍色玉米，或者現在是Blink 的英國和bling 的比利時，隨著我們進入2024 年，我們還沒有完成這些工作。

The team is laser focused on the targets we have laid out in front.

團隊專注於我們設定的目標。

And the number one target is achieving adjusted EBITDA run rate by the end of 2024.

第一個目標是到 2024 年底實現調整後的 EBITDA 運作率。

Now if we look at what else we're going to do in 2024, it's all listed out on slide 20, we will continue to drive global efficiencies to optimize manufacturing, logistics, distribution and facilities and back office consolidation.

現在，如果我們看看 2024 年我們還要做什麼，幻燈片 20 上都列出了，我們將繼續提高全球效率，以優化製造、物流、分銷和設施以及後台整合。

We will execute our cost reductions and avoidance strategies, leverage, expanded manufacturing facilities to support growth, reduce COGS and enhance international product portfolio.

我們將執行降低成本和避免成本的策略，利用擴大的製造設施來支持成長，降低銷貨成本並增強國際產品組合。

We will launch a new multi market maintenance and service and proactive monitoring network to improve uptime, N-Charge quality and reliability and we will continue to invest in innovative technologies to improve efficiency and promote continued growth.

我們將推出新的多市場維護和服務以及主動監控網絡，以提高正常運行時間、N-Charge 品質和可靠性，並且我們將繼續投資創新技術，以提高效率並促進持續成長。

These tactical and strategic moves will provide Blink's with the necessary flexibility to achieve our positive adjusted EBITDA run rate by December of 2024, and this is fundamental to Blink's long term success.

這些戰術和策略措施將為 Blink 提供必要的靈活性，以在 2024 年 12 月之前實現我們調整後的正 EBITDA 運作率，這是 Blink 長期成功的基礎。

Finally, our success in '23 wouldn't be possible without the outstanding team we have in place, and we thank each and every one of them across the entire organization for their tremendous effort this year.

最後，如果沒有我們優秀的團隊，我們就不可能在 23 年取得成功，我們感謝整個組織中的每一個人今年的巨大努力。

As you might imagine, the team is excited about Blink's future, and we look forward to updating you throughout 2024 as we continue to make progress.

正如您可能想像的那樣，團隊對 Blink 的未來感到興奮，我們期待在 2024 年繼續取得進展，為您提供最新資訊。

With that, the call is now open for questions.

至此，電話會議現在開始接受提問。

Thank you.

謝謝。

Ladies and gentlemen, the floor is now open for your questions.

女士們、先生們，現在開始提問。

If you have any questions or comments, please press star one on your phone.

如果您有任何疑問或意見，請按手機上的星號一。

At this time.

此時。

We ask that while posing your question, you please pick up your handset if listening on speakerphone to provide optimum sound quality.

我們要求您在提出問題時，如果使用揚聲器收聽，請拿起聽筒，以提供最佳音質。

Please hold while we poll for questions.

我們投票提問時請稍候。

Frankie?

法蘭基？

Our first question is coming from Chris Pierce with Needham.

我們的第一個問題來自李約瑟的克里斯·皮爾斯。

Your line is live.

您的線路已上線。

Yes, just two for me.

是的，對我來說只有兩個。

We are an industry leader on their earnings call a couple of weeks back talked about seeing their customers thinking about moving towards a dual sourcing model and kind of having multiple charges from multiple brands on site.

我們是行業領導者，在幾週前的財報電話會議上談到，看到他們的客戶考慮轉向雙重採購模式，並在現場從多個品牌收取多種費用。

Is that helping that gives you confidence in the growth to triple your production capacity I believe, had that already been contemplated in the model?

我相信這是否有助於讓您對產能成長三倍充滿信心，模型中是否已經考慮到了這一點？

Or is there something new that's additive to kind of how you're thinking about the future?

或者有什麼新的東西可以補充你對未來的看法嗎？

Yes, it's an enhancement.

是的，這是一個增強。

So it wasn't in the original math when we agreed to expand Buly.

因此，當我們同意擴展 Buly 時，這並不在最初的數學中。

But certainly, you know, now we're calculating it in.

但當然，你知道，現在我們正在計算它。

So we see that as added benefit over time.

因此，隨著時間的推移，我們認為這是額外的好處。

Okay.

好的。

And then you're guiding at the midpoint to roughly 20% revenue growth.

然後你在中點指導大約 20% 的收入成長。

I just want to kind of how do we square that with the tripling of capacity kind of one seems a little more aggressive.

我只是想知道我們如何將其與容量增加三倍相協調，這種容量似乎更具侵略性。

One seems a little more conservative.

一個人似乎比較保守一點。

I just want to kind of what's the right way to think about that.

我只是想知道思考這個問題的正確方法是什麼。

Michael, you want to handle that and sure enough.

邁克爾，你肯定想處理這個問題。

And we're we've built our budgets from the group from the ground up, and we're just we're factoring in obviously, like to be conservative where we, as you know, we're conservative in nature and as we head into 2024 as we navigate through some some noise, but we feel confident that that range is most appropriate for what we feel is up to start to start up the year.

我們從頭開始就從集團中製定了預算，我們只是明顯地考慮到了這一點，我們喜歡保守，正如你所知，我們本質上是保守的，因為我們進入2024 年，我們會經歷一些噪音，但我們相信這個範圍最適合我們認為今年開始的情況。

Okay.

好的。

Thank you.

謝謝。

Thank you.

謝謝。

Our next question is coming from Stephen Gengaro with Stifel.

我們的下一個問題來自 Stephen Gengaro 和 Stifel。

Your line is line.

你的線就是線。

Thanks.

謝謝。

Good afternoon, everybody.

大家下午好。

Two for me and one to follow up on the question, Chris just asked when we think about the revenue guide for '24 and we think about kind of what the industry is seems to be going through right now just from a adoption rate with Aldagen of data points have been have been a little more negative.

兩個是我的，一個是跟進這個問題的，克里斯剛剛問我們，當我們考慮 24 年的收入指南時，我們會從 Aldagen 的採用率來看，這個行業現在似乎正在經歷什麼。數據點有些負面。

But And notwithstanding that and your and your comments on the guide, how how would you classify like '24, '25, '26 like we should we think about that underlying category that you that you illustrated in the presentation in the mid 20s as kind of a baseline that is that a good place to start?

但是，儘管如此，以及您和您對指南的評論，您如何對“24”、“25”、“26”等進行分類，就像我們應該考慮您在20 年代中期的演示文稿中所說明的基本類別一樣基線是一個好的起點嗎？

If So kind of think about that impact on overhead and R&D and progression, you know, it's a good place to start.

如果考慮一下對管理費用、研發和進度的影響，你知道，這是一個很好的起點。

Now you're going to you see different accelerations in different places we operate, especially outside the United States right now.

現在，您將在我們營運的不同地方看到不同的加速，尤其是目前在美國以外的地區。

You know, of course, we see we want to gain for larger numbers, right?

你知道，當然，我們希望獲得更多的數字，對嗎？

We want to make sure we have the capacity to take care of what is going to happen in the space and not just the capacity, but the ability to produce at a high margin.

我們希望確保我們有能力應對該領域將要發生的事情，不僅是能力，還有高利潤生產的能力。

So we're going to be, as Michael said, we're going to be a little conservative and numbers, but we're basing those off of real data.

因此，正如麥可所說，我們將採取保守的態度和數字，但我們將這些數據建立在真實數據的基礎上。

We don't make a decision that look at it without looking at what the analysts are saying, whether that analysts and McKinsey or another analyst looking at what they see as industry growth, then we cross supply that with where we're active and then we look at the segmentation and see, okay, where is our greatest opportunity to expand revenue.

我們不會在不考慮分析師所說的情況下做出決定，無論是分析師和麥肯錫還是其他分析師，他們都會關注他們認為的行業增長，然後我們將其與我們活躍的領域交叉提供，然後讓我們看看細分，然後看看我們擴大收入的最大機會在哪裡。

And then thirdly, the other leg of that is when we're looking at our own internal functions, what are our other revenue opportunities as we continue to grow and scale the industry, but we think 165 to 175 is healthy.

第三，另一條腿是當我們審視我們自己的內部職能時，隨著我們繼續發展和擴大行業規模，我們的其他收入機會是什麼，但我們認為 165 到 175 是健康的。

And that, as you know, we're going to have a lot of work to do and that and that's going to enable us to grow our margins as well.

如您所知，我們將有很多工作要做，這也將使我們能夠增加利潤。

Thanks.

謝謝。

And then a follow-up was at CVS.

然後是 CVS 的後續行動。

So week this week, when you think about that facility ramping and you have that you've consolidated your centralized warehouse and production, et cetera.

所以本週，當你考慮到設施的擴建時，你會發現你已經整合了你的集中倉庫和生產等等。

How should that impact underlying product margins over the next three years?

這將如何影響未來三年的基礎產品利潤率？

It's going to have a positive impact, as you imagine, we've done a couple of different things, right?

正如你想像的那樣，這將會產生積極的影響，我們做了一些不同的事情，對吧？

So we had five facilities, one in Miami.

所以我們有五個工廠，其中一個在邁阿密。

We had actually four in the greater Washington D.C. metro area.

實際上，我們在華盛頓特區大都會區有四個。

We've now consolidated all those to two.

我們現在已將所有這些合併為兩個。

And with that, we've also been able to reduce overhead across the board at all those.

這樣，我們也能夠全面減少所有這些方面的管理費用。

So we're anticipating a positive margin impact for that.

因此，我們預計這將產生積極的利潤影響。

But we haven't crystallized those numbers yet.

但我們還沒有具體化這些數字。

So we haven't had a range.

所以我們還沒有一個範圍。

And that's something that you're going to see manifest in the Q1 report, which is looking really good and Q2 and Q4.

這就是您將在第一季報告中看到的內容，該報告看起來非常好，第二季和第四季也是如此。

Okay.

好的。

Thank you for the details.

謝謝您提供詳細資訊。

Operator, the next one question, please.

接線員，請下一個問題。

Sorry, sir.

對不起，先生。

My line was muted by mistake.

我的線路被錯誤地靜音了。

And the next question is from Craig Irwin with ROTH and Kim, your line is live, sir.

下一個問題是克雷格歐文（Craig Irwin）、羅斯（ROTH）和金（Kim）提出的，您的線路已上線，先生。

Good evening and thanks for taking my questions.

晚上好，感謝您提出我的問題。

More and more on the housekeeping side, can you maybe update us on your DC fast charger portfolio, where are we at as far as the new product introductions that you are planning?

在管家方面，您能否向我們介紹一下您的直流快速充電器產品組合？您計劃推出的新產品目前進展如何？

And Dan, can you can you maybe break out for us what the contribution was in 2023?

Dan，您能否為我們透露 2023 年的貢獻是什麼？

And whether or not there was again, a margin drag potentially in the fourth quarter?

第四季是否會再次出現利潤率下滑的情況？

Yes.

是的。

So you know, our DC fast charger, a fast charging strategy is threefold.

所以你知道，我們的直流快充充電器，快充策略是三重的。

Right now, right?

現在，對吧？

First, we have our own products that are already in the market, which are predominantly fleet applications, and that's our DC. nine, which is actually the best selling DC project and product we have and it comes in 30 and 40 kilowatts is being primarily used to dealerships fleets across the nation.

首先，我們有自己的產品，這些產品已經推出市場，主要是車隊應用，這就是我們的資料中心。 9 號實際上是我們最暢銷的 DC 項目和產品，功率為 30 和 40 千瓦，主要用於全國各地的經銷商車隊。

Then we have what we call our third party outsourced, where we have contracting manufacturing on a Blink's look and feel charger.

然後我們進行了所謂的第三方外包，即我們對 Blink 的外觀和感覺充電器進行承包製造。

And that charger takes up where the DC-9 leaves off and fills our orders, whether those orders are to dealerships, fleet companies or municipalities.

充電器將填補 DC-9 的空白並填補我們的訂單，無論這些訂單是發給經銷商、車隊公司還是市政當局。

The last piece of the strategy is our own design of DC. to 40 words, the design is done on the charger up and now we're moving towards certification and final design.

策略的最後一塊是我們自己設計的DC。到 40 個字，設計已在充電器上完成，現在我們正在邁向認證和最終設計。

So it's been about in terms of a product and a PT. two stage 80% of final.

所以這是關於產品和 PT 的。兩階段佔決賽的80%。

But the engineering aspects, including the silicon carbide modules.

但工程方面，包括碳化矽模組。

That part is all done.

那部分就全部完成了。

And then it's the determination of our manufacturing partner to build that charger with us.

然後我們的製造合作夥伴決定與我們一起製造該充電器。

So it's a great question, Craig, but that's where we sit today.

所以這是一個很好的問題，克雷格，但這就是我們今天的立場。

Excellent.

出色的。

Excellent.

出色的。

And then, Michael, I really appreciate the clarity on the gross margins of 30% is is an impressive number for any producer in this industry.

然後，邁克爾，我真的很欣賞 30% 毛利率的明確性，這對這個行業的任何生產商來說都是一個令人印象深刻的數字。

Can you maybe on help us with some of the items that were impacting this fourth quarter GAAP versus the adjusted number?

您能否幫助我們解決一些影響第四季 GAAP 與調整後數字的項目？

And you do have those details to share with us as we noted in the prepared remarks, a majority of I'd say about a May CAD2.5 represented a I'll call it, warranty and maintenance expenses or additional warranty and maintenance expenses as well as we had to expense certain composite discontinued components from the older as we're transitioning from the outsourced or of your contract manufacture product over to the in-house manufactured so there's components that we have.

正如我們在準備好的評論中指出的那樣，您確實有這些詳細信息可以與我們分享，我想說的大部分關於5 月CAD2.5 的內容代表了我稱之為保修和維護費用或額外保修和維護費用的由於我們正在從外包或合約製造產品過渡到內部製造，因此我們不得不花費某些舊的複合停產組件的費用，因此我們擁有一些組件。

We had that were basically not using as much or just got to kind of expense throughout the at the end of the year.

我們基本上沒有使用那麼多，或者只是在年底產生了某種費用。

So it's a combination of a few things, but mostly on the warranty maintenance as well as discontinued components.

因此，這是幾件事的結合，但主要是保固維護以及停產的組件。

Okay.

好的。

And then just a little bit more detail there.

然後還有更多細節。

Can you give us a little color on what the warranty was on as a sort of legacy product for many years ago?

您能為我們介紹一下多年前作為一種遺留產品的保固情況嗎？

Or is this something that, you know, it's just a minor correction for a more recent product implementation?

或者這只是對最近產品實施的一個小修正？

Right now, yes, we are doing fine, and that's a negative.

現在，是的，我們做得很好，但這是一個負面因素。

Yes, again, I'll take a bed.

是的，我還是要睡一張床。

So you know, there's two phases to it right there was the a lot of it had to do with legacy equipment in the field, and that's a two-prong approach, right?

所以你知道，它有兩個階段，其中很多都與現場的遺留設備有關，這是一個雙管齊下的方法，對嗎？

You still do have customers out there that have the legacy equipment.

您仍然有擁有舊設備的客戶。

We honored warranty to ensure that uptime and quality at those chargers.

我們兌現保修，以確保這些充電器的正常運作時間和品質。

Because as you may know, that's one of the Number One concerns in the industry.

因為您可能知道，這是業界最關心的問題之一。

So that increased our warranty expense a little bit also when we go through the exercise of replacing those legacy charges and the customer still wants that type of charger, one of the nuance we're faced with is normally we bring in chargers and we just do a basic rehab, but a lot of these chargers instead of doing the basic rehab on them, we have to pull out some old components now which adds to component expense that can't be reused.

因此，當我們更換這些遺留費用並且客戶仍然想要那種類型的充電器時，這也增加了我們的保固費用，我們面臨的細微差別之一是通常我們會帶來充電器，我們只是這樣做一個基本的修復，但是許多這樣的充電器不是對它們進行基本的修復，而是現在我們必須取出一些舊組件，這增加了無法重複使用的組件費用。

We're going to get through most of that.

我們將完成大部分工作。

So it's going to be a one-time expense, but it particularly hit in Q4.

因此，這將是一項一次性支出，但在第四季度尤其嚴重。

So a lot of older componentry being upgrade and some additional warranty expense as a two to maintain quality out in the field.

因此，許多舊組件正在升級，並且需要承擔一些額外的保固費用，以保持現場品質。

Now there's also a call correlation to significant revenue and higher charger sales, and then we need to reserve more and warranty as well that played into that.

現在，電話與可觀的收入和更高的充電器銷售量也有相關性，然後我們需要預留更多的費用和保固。

So it is a bit of a multi-variable equation.

所以它有點像一個多變量方程式。

It ended up with that result.

最終就得到了這樣的結果。

Excellent.

出色的。

And then last question, if I may buy in America, right?

最後一個問題，我是否可以在美國購買，對吧？

This is something that your friends, the Department of Energy is our being on.

這是你們的朋友們，能源部正在關注的事情。

Obviously, settlement has begun to come.

顯然，和解已經開始到來。

You guys are now, I believe, the best positioned company as far as Level 2 supply into North America with the Boeing Marilyn facility and can you maybe give us a little bit of color as far as the breadth of demand that you're seeing?

我相信，你們現在是在透過波音瑪麗蓮工廠向北美提供 2 級供應方面處於最佳地位的公司，你們能否就你們所看到的需求廣度向我們提供一些資訊？

I know I know we've talked a few times about going 12,000 to 50,000 units in capacity.

我知道我們已經討論過幾次關於產能達到 12,000 到 50,000 件的問題。

And I think there's a plan to go to 100,025 and you obviously see tremendous opportunity.

我認為計劃將達到 100,025，你顯然會看到巨大的機會。

Can you maybe unpack that for us because, you know, investor companies are mandatory around the.

您能否為我們解開這個問題，因為您知道，投資者公司是強制性的。

Yes, no, I have absolutely.

是的，不，我絕對有。

Yes.

是的。

So you know, we met with federal, state and local reps all this week.

所以你知道，我們這週都與聯邦、州和地方代表會面。

There is a tremendous amount of interest in the Buy America product, right?

人們對「購買美國貨」產品非常感興趣，對吧？

It resonated through it, whether it was meeting with government or more or a meeting that took place in the White House just yesterday with the Board of Directors from Blink's and key management.

無論是與政府或其他部門的會議，還是昨天在白宮與 Blink 董事會和主要管理層舉行的會議，它都透過它引起了共鳴。

But all of them emphasized that they believe the volume of buying America product they need is exponential in terms of growth.

但他們都強調，他們相信他們所需的美國產品購買量呈指數級增長。

Now what they're doing, the Maryland facility allows us to do is service the US market plus the Buy America.

現在他們正在做的事情，馬裡蘭州工廠讓我們能夠為美國市場和「購買美國貨」提供服務。

While we can also begin to manufacture chargers for our global markets out of our facility in India.

同時我們也可以開始在印度的工廠為全球市場生產充電器。

And so basically, we take the same design and we have a global version and we have a US version and then we're compliant for everywhere we need to be.

所以基本上，我們採用相同的設計，我們有一個全球版本，我們有一個美國版本，然後我們符合我們需要的任何地方。

And additionally, this flexibility in our manufacturing facilities allows us to move.

此外，我們生產設施的靈活性使我們能夠移動。

As we've stated, Craig, one of our goals is to remove the last vestiges of all third party equipment on L2 level, we're going to replicate the same strategy in Europe, which is going to bring better gross margin and get to scale fast faster, not just in the United States but across the goal.

正如我們所說，克雷格，我們的目標之一是消除 L2 級別所有第三方設備的最後痕跡，我們將在歐洲複製相同的策略，這將帶來更好的毛利率並達到規模擴大得更快，不僅在美國，而且在整個目標上都是如此。

Now one of the things that you might imagine as the US Post Office deal is a testament to getting towards scale.

現在，您可能會想到美國郵政局交易的一件事就是證明了規模化的發展。

They were at the grand opening.

他們在盛大的開幕典禮上。

They were more than happy with seeing what we're doing and they're going to suck up a pretty good percent of those charges made there and a little better story that they're all made in North America right here, blinks facility outside the nation's capital.

他們非常高興看到我們正在做的事情，他們將吸收那裡產生的費用的相當大一部分，並且更好一點的故事是，它們都是在北美製造的，就在這兒，眨眼工廠外國家的首都。

So we're really excited about that.

所以我們對此感到非常興奮。

Fantastic.

極好的。

Look, congratulations on the progress, and I'll hop back in the queue.

聽著，恭喜你取得了進展，我會回到隊列中。

Perfect banQi.

完美的半旗。

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

我們的下一個問題來自 Sameer Joshi 和 H.C.溫賴特。

Your line is live.

您的線路已上線。

Thanks.

謝謝。

Good afternoon.

午安.

Congrats on the progress so far.

祝賀迄今為止的進展。

Just a few questions and clarifications on the revenue outlook.

只是關於收入前景的幾個問題和澄清。

So what is the contribution from products versus, say, network fees and charging revenue that is active?

那麼，與網路費用和活躍收費收入相比，產品的貢獻是多少？

That is being reflected in this on 65 to one 75 outlook?

這是否反映在 65 比 75 的前景上？

Michael?

麥可？

Yes, we expect the trajectory of the split between the service and the product to still be pretty consistent.

是的，我們預期服務和產品之間的劃分軌跡仍然相當一致。

What we've seen in 2023 as we move forward, it's a mix of the U.S. has been around 75% product and 25% service.

展望 2023 年，我們看到的是，美國大約 75% 是產品，25% 是服務。

And then kind of flip in Europe were about 25% on the search on the on the product side, in about 75% on the on the own and operate side.

然後在歐洲，大約 25% 的搜尋量集中在產品方面，大約 75% 的搜尋量集中在自身和營運方面。

So we still expect in '24 to see that continue.

因此，我們仍然預期 24 年這種情況會持續下去。

But it gives us the flexibility as we move forward on having to be able to maximize on either side part of the business, either the hardware sales or the or the service side of it.

但它為我們提供了靈活性，因為我們必須能夠最大限度地提高業務的任何一方，無論是硬體銷售還是服務方面。

And yes, the only the only modification I'd say to that, Sameer, is we're moving rather quickly through 2024 to expand our sales operations in Europe.

是的，Sameer，我想說的唯一修改是我們將在 2024 年相當快速地擴大我們在歐洲的銷售業務。

So while we have a high presence of owner operator there, as Michael just outlined, there's also an opportunity on sales that were restructuring all of our European offices offices to begin to take advantage of a higher penetration rate.

因此，正如邁克爾剛才概述的那樣，雖然我們在那裡擁有大量的業主運營商，但銷售方面也有機會重組我們所有的歐洲辦事處，以開始利用更高的滲透率。

Understood.

明白了。

So then on the gross margin outlook seems a even more conservative than the top line outlook, right?

那麼，毛利率前景似乎比營收前景更保守，對嗎？

Because already in the fourth quarter you had near 30% excluding extraordinary items.

因為在第四季度，不包括特殊項目的成本已接近 30%。

You're saying your product sales are projected to grow.

您說您的產品銷售量預計會成長。

That should increase overhead absorption you're charging revenues are also expected to grow, which should add additional gross profit dollars.

這應該會增加您收取的間接費用吸收，預計收入也會成長，這應該會增加額外的毛利。

It seems that the outlook might be conservative and I read in the trial, the only thing I would say is that for a full service EV infrastructure company today and we have many contemporaries in the United States, we've seen their earnings results.

看來前景可能比較保守，我在試驗中讀到，我唯一想說的是，對於今天的一家提供全方位服務的電動汽車基礎設施公司，我們在美國有很多同行，我們已經看到了他們的盈利結果。

We are the leading in margin today.

今天我們的利潤率處於領先地位。

Now, you know, do we intend to rest on our laurels, but you've seen we intend to get that to 33%.

現在，你知道，我們是否打算固步自封，但你已經看到我們打算將這一比例提高到 33%。

But you know, it's been our history since last year that when we give guidance, we're making sure that we give it from a conservative and realistic perspective.

但你知道，自去年以來我們的歷史就是，當我們提供指導時，我們確保從保守和現實的角度提供指導。

So 33% is we have a fundamental belief and looking at the numbers and the process and the improvements that we can achieve that target if there is upsides and we can truly measure that upside.

所以 33% 是我們有一個基本信念，看看數字、流程和改進，如果有好處，我們就可以實現該目標，並且我們可以真正衡量這種好處。

And we clearly look through the rest of the organization on the finance and accounting side, that's there's going to be nothing that impacts that we may up that guidance as we go through the year.

我們清楚地審視了組織在財務和會計方面的其他部分，沒有任何事情會影響我們在這一年中可能會提高的指導。

But I think 33% is the right target.

但我認為33%是正確的目標。

And again, that's still class-leading.

再說一次，這仍然是同類領先的。

We've got one of our competitors that is showing a decrease and next year, which is the complete opposite direction to where we're going.

我們的一個競爭對手明年將出現下降，這與我們的發展方向完全相反。

Yes, no, understood.

是的，不是，明白了。

Thanks for that.

感謝那。

Just one last sort of bookkeeping question.

只是最後一種簿記問題。

What's the $45.5 million brie period of before December 31 or subsequent to December 31.

12 月 31 日之前或 12 月 31 日之後的 4550 萬美元布里乾酪期間是多少？

I'm just not clear on that.

我只是不清楚這一點。

Michael?

麥可？

The argument that that $45.5 million represented a that was basically the Semiconductor acquisition note that we had out there.

關於 4550 萬美元代表的論點基本上就是我們現有的半導體收購說明。

So we paid we paid a 12.5 of that during Q4 and the remainder in Q1 of 2024.

因此，我們在 2024 年第四季支付了其中的 12.5 美元，其餘部分在 2024 年第一季支付。

So good with the proceeds generated with the capital, we felt it was most prudent and efficient effective to pay down that overhang that obligations and really decrease the expense burden on a go-forward basis makes sense.

由於資本產生的收益如此之好，我們認為最謹慎、最有效的做法是償還懸而未決的債務，並真正減輕未來的費用負擔，這是有意義的。

Thanks for taking my questions and good luck.

感謝您回答我的問題，祝您好運。

Thank you.

謝謝。

Thank you.

謝謝。

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

我們的最後一個問題來自諾埃爾·帕克斯 (Noel Parks) 和圖伊兄弟 (Tuohy Brothers)。

Your line is open.

您的線路已開通。

Hi, good afternoon.

嗨，下午好。

I just had a couple.

我剛喝了幾個。

I wondered, could you talk a bit about multifamily?

我想知道，您能談談多戶家庭嗎？

I think you also mentioned in discussing that briefly a little bit about hospitality, that sector as well and I just think with multifamily, it's kind of that convergence between consumer adoption, we've sort of centralized charge and so interested to hear what you're seeing in that market.

我想您在簡要討論酒店業和該行業時也提到過，我只是認為對於多戶家庭來說，這是消費者採用之間的融合，我們有某種集中收費，因此很想听聽您的想法正在那個市場上看到。

Yes.

是的。

So the first thing is we're seeing that segment grow next to fleet.

因此，首先我們看到該細分市場的成長僅次於機隊。

We have that size growing segment that we're going after right now in the industry that sort of backs that up, but it's a little bit of a, you know, two models or even three models of coming together to service multifamily dwellings in some multifamily dwellings.

我們現在在行業中正在追求規模不斷增長的細分市場，這在某種程度上支持了這一點，但你知道，這有點像是兩種甚至三種模式結合在一起為某些地區的多戶住宅提供服務。多戶住宅。

You have the single charger model where you don't need any exit network access, right?

您擁有不需要任何退出網路存取的單充電器型號，對吧？

In other models, it's a shared space model where we have to network the chargers and we have to create access credentials to them.

在其他模型中，它是一個共享空間模型，我們必須將充電器連網，並且必須建立它們的存取憑證。

And then another and the third spot above spot of about multifamily is third party garage based infrastructure, which is not associated with the multi family dwelling, but it's contracted out and that requires right now, you know, full commercial chargers that are fully networked, but they are reserved for the for the people who consider that multifamily dwelling their home.

然後，關於多戶住宅的另一個第三個位置是基於第三方車庫的基礎設施，它與多戶住宅無關，但它是外包的，這需要現在，你知道，完全聯網的完整商業充電器，但它們是為那些將多戶住宅視為家的人保留的。

Now what we've done over the last 18 months is make sure that we have a charger for each of those use cases and we can provide that service.

現在，我們在過去 18 個月所做的就是確保我們為每個用例都有一個充電器，並且我們可以提供該服務。

We always recommend network with network, we can build in energy management solutions and with fully commercial chargers, we can also build an energy management solutions.

我們始終推薦網路與網絡，我們可以建立能源管理解決方案，並且透過完全商業化的充電器，我們還可以建立能源管理解決方案。

So you can better work with the facility to what you in the future to where you need to curtail use due to a rate card change or a mandate from the public utility, et cetera.

因此，您可以更好地與該設施合作，以便將來因價目表變更或公用事業公司的強制要求等而需要減少使用。

But if it's they don't need a network charger.

但如果是的話，他們就不需要網路充電器。

We have a solution for that, but we're seeing that again, predominantly where it is dedicated space, dedicated user and the owners of the property in terms of the garage don't want networking, they just want to charge there and they'll monitor and charge the customer fee on their own.

我們有一個解決方案，但我們再次看到這一點，主要是在專用空間、專用用戶和車庫方面的業主不想要網絡，他們只想在那裡充電，他們’將自行監控並收取客戶費用。

So all three of those are what we are servicing today.

所以這三個都是我們今天所服務的。

And we see that service increasing in the future.

我們看到這種服務在未來會不斷增加。

Great, thanks.

萬分感謝。

Thanks a lot for the details and done at Buly.

非常感謝 Buly 提供的詳細資訊和完成的工作。

I wonder, can you sort of outline maybe number of manufacturing lines you have there, maybe the present number and what the capacity is or just some of the your way to quantify where you stand now and where the ultimate growth is in your in your footprint there?

我想知道，您能否概述一下您在那裡擁有的生產線數量，也許目前的數量和產能是多少，或者只是一些量化您現在所處位置以及您的足跡中最終增長的方式那裡？

Yes, absolutely.

是的，一點沒錯。

So we moved out of the facility just now, right?

所以我們剛剛搬出了設施，對吧？

And that was servicing up to 15,000 units.

為多達 15,000 台設備提供服務。

And now we expect that need to grow exponentially over time here.

現在我們預期這種需求會隨著時間的推移而呈指數級增長。

And that was a single line that we had there in a very, very cramped space.

那是我們在一個非常非常狹窄的空間裡排的一條線。

So now we have three automated lines, one line right now can make up what we were doing out of the old facilities with the second two lines, of course, getting that number up.

所以現在我們有3條自動化生產線，現在的一條生產線可以用後兩條生產線來彌補我們在舊設施中所做的事情，當然，讓這個數字增加。

Also, we're working on what we call a standard daylight ship right now where the technicians come in early in the morning around seven to eight, and they work to about three on the manufacturing side and then they do cleanup and restocking before they punch out for the end of their ship.

此外，我們現在正在開發一艘所謂的標準日間船，技術人員在早上七點到八點左右到達，他們在製造方面工作到大約三人，然後在打卡之前進行清理和補貨。到他們船的盡頭。

So we're going to get up to the 50,000 unit capacity when we start to add additional shifts and stagger and even where needed if we need capacity for a major fleet player, et cetera.

因此，當我們開始增加額外的班次和交錯時，甚至在需要主要車隊參與者等的情況下，我們的產能將達到 50,000 輛。

And we have to ramp up quickly, we'll add shifts on Saturday and Sunday which we've done in the past to make sure that we deliver on time for special customers in unique circumstances.

我們必須迅速提高速度，我們將在周六和周日增加輪班，這是我們過去所做的，以確保我們在特殊情況下按時為特殊客戶交付。

Great.

偉大的。

And then just one last one is it's very interesting to hear you talk about some of the reorganization you've done on the sales side and the direct reorientation a bit in Europe.

最後一點是，聽到您談論您在銷售方面所做的一些重組以及在歐洲的直接重新定位是非常有趣的。

And I wonder if you could just talk a bit about the sort of Blink's branded parts of the business versus, for example, on the on the product side, sort of white labeled or just inherently within a fleet customer deployment, I'm just interested to hear what about the role branding plays in your expanding business model going forward?

我想知道您是否可以談談 Blink 的品牌業務部分，例如在產品方面，某種白標或只是在車隊客戶部署中固有的，我只是感興趣了解品牌在您未來不斷擴展的業務模式中扮演的角色？

Yes.

是的。

So right now, everything that we build is bling branded.

所以現在，我們建造的一切都帶有閃亮的品牌。

However, there are some certain circumstances and will it will allow an additional brand to be added to that and some additional circumstances.

然而，在某些特定情況下，是否會允許在該情況和其他一些情況下添加額外的品牌。

And most of these are OEM. or particular customer related will we re-brand the entire charger on a customer contract.

而且大部分都是OEM。或與特定客戶相關，我們是否會在客戶合約上重新命名整個充電器的品牌。

But for them, the third party chargers were fortunate that all the third party charges that are being that are non-paying manufactured and we have agreements with them that they're all Blink's branded, so they come to us pre branded and then we ship them out.

但對他們來說，第三方充電器很幸運，所有第三方充電器都是免費製造的，我們與他們達成協議，它們都是Blink 的品牌，所以他們來找我們預先貼上品牌，然後我們發貨他們出去。

So the strategy for blank, as we said, we're going to move to 80% of all product is being manufactured and we're well on our way to that.

因此，正如我們所說，空白策略是，我們將生產 80% 的產品，而且我們正在朝著這個目標邁進。

And the new-build facility is going to add greatly to that.

新建設施將大大增加這一點。

Then when we convert European operations over to Blink's manufactured product, which we're beginning where we're actually working on the final stages of the design for that charger.

然後，當我們將歐洲業務轉移到 Blink 的製造產品時，我們實際上正在著手該充電器設計的最後階段。

Now then we're going to do that even further.

現在我們將進一步做到這一點。

So the future is that 80% of all the products we sell our built manufactured and branded Blink's.

因此，未來我們銷售的所有產品中 80% 都是由 Blink 製造和品牌的。

Terrific.

了不起。

Thanks a lot.

多謝。

Thank you.

謝謝。

As we currently have no further questions in queue at this time.

因為我們目前沒有其他問題在排隊。

I would like to hand it back over to Mr. Stella for any closing remarks.

我想把它交回給斯特拉先生做總結發言。

Thank you, Ali, and thank you to all of you who joined us on billings, fourth quarter 2023 earnings call, we announced another absolute record quarter of revenue growth and an industry-leading gross margin.

謝謝阿里，也感謝所有參加比林斯 2023 年第四季財報電話會議的人，我們宣布了又一個絕對創紀錄的季度收入增長和行業領先的毛利率。

This marks the end of this call.

這標誌著本次通話的結束。

We look forward to communicating with you in 2024.

我們期待2024年與您溝通。

And at this time, you may disconnect.

而這個時候，你可能會斷開連線。

No, thank you, ladies and gentlemen, this does conclude today's call you may disconnect your lines at this time and have a wonderful day.

不，謝謝你們，女士們先生們，今天的電話會議到此結束，您可以在這個時候掛斷電話，祝您有美好的一天。

We thank you for your participation.

我們感謝您的參與。