Blink Charging Co (BLNK) 2024 Q2 法說會逐字稿

Good afternoon everyone and welcome to the Blink Charging Company Second Quarter 2024 Earnings Call. At this time, all participants have been placed on a listen-only mode and we will open the floor for your questions and comments after the presentation.

大家下午好，歡迎參加 Blink Charging Company 2024 年第二季財報電話會議。目前，所有參與者都已進入僅聽模式，我們將在演示結束後開放發言，供您提出問題和評論。

It is now my pleasure to turn the floor over to your host, Vitalie Stelea. Sir, the floor is yours.

現在我很高興將發言權交給主持人維塔利·斯特萊亞 (Vitalie Stelea)。先生，地板是你的了。

Thank you, Matthew. Welcome to Blink's second quarter 2024 earnings call. With us today, we have Brendan Jones, President, and CEO; Michael Rama, Chief Financial Officer; and Michael Battaglia, our Chief Operating Officer.

謝謝你，馬修。歡迎參加 Blink 2024 年第二季財報電話會議。今天與我們在一起的有總裁兼執行長布倫丹瓊斯 (Brendan Jones)；麥可‧拉瑪，財務長；和我們的營運長 Michael Battaglia。

The discussion today will include non-GAAP references. These are reconciled to the most comparable US 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公認會計準則參考。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。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. Actual results may be different from those stated. The most significant factors that could cause actual results to differ are included on page 2 of the second quarter 2024 earnings deck. Unless otherwise noted, all comparisons are year-over-year.

今天的討論也可能包括有關我們期望的前瞻性陳述。實際結果可能與所述有所不同。可能導致實際結果差異的最重要因素包含在 2024 年第二季財報的第 2 頁。除非另有說明，所有比較均為逐年比較。

And now regarding our Investor Relations calendar. Blink will attend the J.P. Morgan Automotive Conference on the 8 of August in New York City. Blink will also attend the HC Wainwright Annual Global Investment Conference on the 10 of September in New York City. Our management will be meeting with investors at all of these events. Please also follow our announcements and our website for additional investor events in the future.

現在談談我們的投資者關係日曆。 Blink 將於 8 月 8 日出席在紐約舉行的摩根大通汽車會議。 Blink 也將出席 9 月 10 日在紐約市舉行的 HC Wainwright 年度全球投資會議。我們的管理層將在所有這些活動中與投資者會面。也請關注我們的公告和網站，以了解未來的其他投資者活動。

And now I will turn the call over to Brendan Jones, Blink's President, and CEO. Please go ahead, Brendan.

現在我將把電話轉給 Blink 總裁兼執行長 Brendan Jones。請繼續，布倫丹。

Thanks, Vitalie and good afternoon, everyone and thank you for joining us today to discuss Blink's second quarter's results. So let's just jump into it. So our total company revenue was $33.3 million with service revenue representing about $8 million, or approximately 20% of the total. Service revenue increased in Q2, 15% when compared to the second quarter of 2023. Gross margin in the second quarter was 32.2%. That's in line with our target guidance of 33%.

謝謝 Vitalie，大家下午好，謝謝你們今天加入我們討論 Blink 第二季度的業績。那麼就讓我們開始吧。因此，我們公司的總收入為 3,330 萬美元，其中服務收入約為 800 萬美元，約佔總收入的 20%。第二季服務收入較 2023 年第二季成長 15%。這符合我們 33% 的目標指導。

Now, during the quarter, we contracted, sold, or deployed 4,106 chargers globally and dispersed nearly 33 gigawatts of energy across all Blink networks. Our total company revenue for the second quarter of 2024 increased when compared to the second quarter of 2023, despite some of the challenging market conditions that we encountered.

現在，在本季度，我們在全球範圍內承包、銷售或部署了 4,106 個充電器，並在所有 Blink 網路中分配了近 33 吉瓦的能源。儘管我們遇到了一些充滿挑戰的市場條件，但與 2023 年第二季相比，我們 2024 年第二季的公司總收入有所增加。

On our first quarter earnings call, we mentioned that we had seen lower sales bookings in April. That trend persisted throughout the second quarter, primarily driven by a slight slowdown in EV sales. We believe the pressure on EV sales is short -- is a short-term factor but nonetheless, expect to see some impact to our revenue as we move through the balance of this year. We are confident, however, about the long-term outlook for the industry and, of course, for Blink. There are several reasons for our optimism.

在我們第一季的財報電話會議上，我們提到四月份的銷售預訂量有所下降。這一趨勢在整個第二季度持續存在，主要是由於電動車銷量略有放緩。我們認為電動車銷售的壓力是短期的——這是一個短期因素，但儘管如此，預計隨著今年剩餘時間的推移，我們的收入將會受到一些影響。然而，我們對產業的長期前景充滿信心，當然也對 Blink 充滿信心。我們的樂觀有幾個原因。

First, we continue to see a gap between the demand for charging and the available infrastructure to service this demand. If we look at data from S&P Global, 40% of all new vehicle model introductions in 2024 and 2025 will be EVs and that is on top of the vehicles already on the market again.

首先，我們繼續看到充電需求與滿足此需求的可用基礎設施之間存在差距。如果我們看一下 S&P Global 的數據，2024 年和 2025 年推出的所有新車車型中，40% 將是電動車，這再次高於市場上已有的車輛。

So 40% is a massive number and we are uniquely positioned as a company to build the infrastructure and provide the network services to meet the increased charging demand by all these vehicle launches.

因此，40% 是一個很大的數字，作為一家公司，我們擁有獨特的定位，可以建造基礎設施並提供網路服務，以滿足所有這些車輛推出所帶來的不斷增長的充電需求。

Additionally, we believe that fleets will continue to be a significant contributor to future demand. Fleet operators are beginning to preference EVs over combustion engine vehicles because they can save 30% on total cost of ownership.

此外，我們相信車隊將繼續成為未來需求的重要貢獻者。車隊營運商開始青睞電動車而不是內燃機汽車，因為電動車可以節省 30% 的總擁有成本。

This is tremendous savings even for the smallest of fleets. The fact that we now know that rideshare vehicles like Uber and Lyft are switching to EVs and driving up demand for DC and L2 charging is a very good data point and example of what we'll see in the future. Imagine the impact that EVs will have on very sophisticated fleets and the savings that will be delivered to their owners.

即使對於最小的車隊來說，這也是巨大的節省。事實上，我們現在知道 Uber 和 Lyft 等共享出行車輛正在轉向電動車，並推高了對直流和 L2 充電的需求，這是一個非常好的數據點，也是我們未來將看到的例子。想像電動車將對非常複雜的車隊產生的影響以及將為車主帶來的節省。

Looking at the big picture, we are seeing sustainable growth in charging service utilization and some of our peers have been reporting the same trends. Consequently, as EV sales increase, it follows that demand for charging infrastructure will also grow with a higher number of electric commercial vehicles on the road.

從大局來看，我們看到充電服務利用率的可持續成長，我們的一些同行也報告了相同的趨勢。因此，隨著電動車銷量的增加，隨著道路上電動商用車數量的增加，對充電基礎設施的需求也將隨之成長。

Blink's ability to close the gap in available charging sites represents a tremendous market and revenue opportunity for the company. And we made great progress in the second quarter this year. To name just a few of our accomplishments.

Blink 縮小可用充電站差距的能力為該公司帶來了巨大的市場和收入機會。今年第二季我們取得了很大進展。僅舉幾個我們所取得的成就。

In Europe, our Belgium team won the contract with Decathlon, the world's largest sporting goods retailer, to install, own and operate both L2 and DC fast chargers. This is very exciting for us as we can see ample opportunities for growth with Decathlon.

在歐洲，我們的比利時團隊贏得了全球最大體育用品零售商迪卡儂的合同，安裝、擁有和經營 L2 和直流快速充電器。這對我們來說非常令人興奮，因為我們可以看到迪卡儂充足的成長機會。

Additionally, as a result of several key commercial contracts already in place in Europe, Blink has begun to expand our presence into Italy and Germany which are very lucrative EV markets. In the UK, our team collaborated with UK's largest dedicated parcel delivery company called Evri to provide and install the first EV hub at an important sorting center.

此外，由於歐洲已經簽訂了幾項重要的商業合同，Blink 已開始將我們的業務擴展到義大利和德國，這些都是利潤豐厚的電動車市場。在英國，我們的團隊與英國最大的專業包裹遞送公司 Evri 合作，在一個重要的分類中心提供並安裝了第一個電動車中心。

Additional sites are planned for the future. Now, if we pivot over to the US, our team achieved In Process status for the government FedRAMP certification. Now In Process status is a designation for service providers who are actively working towards authorization.

未來也計劃增加更多站點。現在，如果我們轉向美國，我們的團隊就獲得了政府 FedRAMP 認證的「處理中」狀態。 「正在處理」狀態是對正在積極爭取授權的服務提供者的指定。

And when we receive final certification and this is estimated to be in the October, November time frame, Blink will have access as an approved provider to contracting opportunities with the general and service administration clients which opens up the door for thousands of sales.

當我們獲得最終認證時（預計在 10 月、11 月的時間範圍內），Blink 將作為經批准的提供者獲得與一般和服務管理客戶簽訂合約的機會，這為數千筆銷售打開了大門。

Recently, we became an official vehicle charger and network service provider to the state of New York and we also launched our Blink Care preventive maintenance program that will maximize charger uptime for our customers.

最近，我們成為紐約州的官方車輛充電器和網路服務提供商，我們還推出了 Blink Care 預防性維護計劃，該計劃將最大限度地延長客戶的充電器正常運行時間。

If we look at Mexico, we were selected by the official BYD dealership group for EV charging products and services. BYD is an OEM that is gaining global momentum and we view this as a strategic opportunity in Mexico and around the world.

如果我們看看墨西哥，我們被比亞迪官方經銷商集團選中提供電動車充電產品和服務。比亞迪是一家正在獲得全球發展勢頭的原始設備製造商，我們認為這是墨西哥和世界各地的戰略機會。

As you can see, we are focused on leveraging our strong reputation in the marketplace to position Blink to compete and win in the short midterm, while also continue to structurally adjusting the company for sustainable long-term growth.

正如您所看到的，我們專注於利用我們在市場上的良好聲譽，使 Blink 能夠在中短期內競爭並獲勝，同時繼續對公司進行結構調整，以實現可持續的長期成長。

And when we look at the long-term market, between the rapid growth of EVs in China, European mandates and incentives that are already in place and the accelerated growth in developed European markets, combined with the need for the US.auto industry and American companies in general to stay competitive globally, we believe EVs will represent one of the key segments of global transportation now and well into the future.

當我們著眼於長期市場時，中國電動車的快速成長、歐洲已經出台的指令和激勵措施以及發達歐洲市場的加速成長，再加上美國汽車工業和美國的需求為了保持全球競爭力，我們相信電動汽車將成為現在和未來全球交通的關鍵領域之一。

If you look at slide 5, McKinsey currently forecast over 28 million chargers are needed by 2030 and globally, EV infrastructure spending is expected to be about $260 billion by 2030, with about 90-plus percent of those chargers being L2. In fact, as the market matures, we're going to see more of the emphasis being placed on L2 applications.

如果你看一下投影片 5，麥肯錫目前預測到 2030 年需要超過 2,800 萬個充電器，到 2030 年全球電動車基礎設施支出預計將達到約 2,600 億美元，其中約 90% 以上的充電器是 L2。事實上，隨著市場的成熟，我們將看到更多的重點放在 L2 應用程式上。

I will comment more in a little bit at the end of the presentation. But right now, to give you some more details, I would like to pass the call to Mike Battaglia, our Chief Operating Officer. Mike?

我將在演示結束時進行更多評論。但現在，為了向您提供更多詳細信息，我想將電話轉給我們的首席營運長 Mike Battaglia。麥克風？

So let's just jump into it.

那麼就讓我們開始吧。

Great. Thank you, Brendan, and good afternoon to everyone on the call today. So I'd like to start by emphasizing that Blink continues to be uniquely positioned in the market as we offer flexible solutions to our customers.

偉大的。謝謝布倫丹，今天參加電話會議的每個人都下午好。因此，我首先要強調的是，隨著我們為客戶提供靈活的解決方案，Blink 將繼續在市場中保持獨特的地位。

Whether they want to purchase equipment for us -- from us, combined with network services or whether they want to own -- they want us to own and operate chargers for them, we can do both and many variations in between which not only positions us well competitively to win business but also provides revenue diversification, evidenced by the fact that nearly 1/4 of our current revenue is derived from recurring service streams.

無論他們是想從我們這裡購買設備，結合網路服務，還是他們想要擁有——他們希望我們為他們擁有和運營充電器，我們都可以做到這兩者，並且在這之間進行許多變化，這不僅使我們處於有利地位我們目前近 1/4 的收入來自經常性服務流，這一事實證明了這一點。

And since we own and operate, we have unique insights into a variety of charging locations which helps us design chargers and software services to anticipate and address our customers' needs. As Brendan mentioned earlier, our Q2 product sales reflected some softness that we mentioned on the first quarter earnings call and we expect to see continued pressure as we move through the back half of the year.

由於我們擁有並經營，我們對各種充電地點有獨特的見解，這有助於我們設計充電器和軟體服務，以預測和滿足客戶的需求。正如布倫丹之前提到的，我們第二季的產品銷售反映了我們在第一季財報電話會議上提到的一些疲軟，我們預計下半年將面臨持續的壓力。

That said, based on the visibility of our pipeline and our ability to successfully address the needs of diverse vertical markets, we anticipate order activity will turn around later this year and into 2025. At the same time, our service revenue showed continuously strong growth in the second quarter, making up 24% or nearly 1/4 of total company revenue.

也就是說，基於我們管道的可見性以及我們成功滿足多元化垂直市場需求的能力，我們預計訂單活動將在今年晚些時候至 2025 年出現好轉。公司總收入的24%，接近1/4。

That is a 300 basis point improvement from 21% of total revenue in the second quarter a year ago and we continue to expect service revenue to grow as a percentage of our total revenue.

這比去年第二季總營收的 21% 提高了 300 個基點，我們繼續預期服務收入佔總收入的百分比將會成長。

For example, charging service revenue has increased by 13% year-over-year. When we look at the total number of owner-operated units by Blink, we had 6,094 units as of June 30, 2024. That is a 25% increase in a span of only 1 year.

例如，充電服務收入較去年同期成長13%。當我們查看 Blink 的業主營運單位總數時，截至 2024 年 6 月 30 日，我們擁有 6,094 個單位。

For the first half of 2024, we generated charging revenue of $10 million from Blink-owned chargers compared to $7.2 million in the first half of 2023. That's a 37% increase year-over-year. And energy dispersed through Blink-owned chargers in the first half of 2024 grew to 8.9 gigawatts, representing 55% growth year-over-year.

2024 年上半年，我們透過 Blink 自有充電器實現了 1000 萬美元的充電收入，而 2023 年上半年為 720 萬美元。 2024 年上半年，透過 Blink 自有充電器分配的能量增至 8.9 吉瓦，年增 55%。

Notable here is that DC fast chargers are becoming increasingly important within our portfolio of US Blink owned chargers. The revenue generated from our Blink owned DC fast chargers in the United States in the first half of 2024 increased nearly 8 fold compared with the first half of 2023.

值得注意的是，直流快速充電器在我們的 US Blink 自有充電器產品組合中變得越來越重要。 2024年上半年我們Blink自有的直流快速充電器在美國產生的收入較2023年上半年成長了近8倍。

That's 8 fold. And with our L2 charging network, we have detailed visibility into high-traffic, profitable locations. We plan to capitalize on these insights by deploying Blink-owned DC fast chargers in a disciplined way so that we meet our return on capital criteria which targets positive station economics within 5 years or less after deployment.

那是8倍。透過我們的 L2 充電網絡，我們可以詳細了解高流量、獲利的地點。我們計劃利用這些見解，以嚴格的方式部署 Blink 擁有的直流快速充電器，以便滿足我們的資本回報標準，即部署後 5 年或更短時間內實現積極的充電站經濟效益。

Operationally, Blink's gross margin for the second quarter of 2024 was 32%. The slight decrease in gross margin compared with the first quarter of this year was due to a higher mix of third-party manufacturer manufactured chargers from legacy customers.

從營運角度來看，Blink 2024 年第二季的毛利率為 32%。與今年第一季相比，毛利率略有下降，原因是來自傳統客戶的第三方製造商製造的充電器的比例較高。

Upon the launch of our new single port Blink manufactured series product in Q4 of this year, we anticipate a more favorable product mix and that takes advantage of our strategy of vertical integration. For the first half of 2024, Blink's gross margin was a robust 34%.

今年第四季推出新的單埠 Blink 製造系列產品後，我們預計會出現更有利的產品組合，並利用我們的垂直整​​合策略。 2024 年上半年，Blink 的毛利率高達 34%。

Moving on to slide 8. You can see that cumulatively, as of the end of Q2 of 2024, Blink has contracted, sold, or deployed 98,261 chargers since the company's inception. Geographically, 75% of the total company-wide number is attributed to North America and 25% to Europe and other international locations.

繼續看投影片 8。從地理上看，全公司總人數的 75% 來自北美，25% 來自歐洲和其他國際地區。

Further, Blink continues to grow our market share due to our superior products and innovative and flexible business models. According to the US Department of Energy, Blink has the third largest network of chargers in the United States.

此外，由於我們卓越的產品和創新且靈活的商業模式，Blink 持續擴大我們的市場份額。據美國能源部稱，Blink 擁有美國第三大充電器網路。

On slide 10, the variety of products we offer appeals to a broad and diverse range of customers. Our Series 7 and 8 chargers which are produced in-house at our Bowie, Maryland production facility, are the most popular Level 2 models among our customers. In short, we offer a full suite of EV charging hardware.

在投影片 10 上，我們提供的各種產品吸引了廣泛且多樣化的客戶。我們的 7 系列和 8 系列充電器是在馬裡蘭州鮑伊生產工廠內部生產的，是我們客戶中最受歡迎的 2 級型號。簡而言之，我們提供全套電動車充電硬體。

Now, if we move on to slide 11, it shows a representative group of our customer base, including many recognizable names across commercial entities, multifamily complexes, planned communities, health care facilities, fleets and municipalities around the world, a very diverse customer base.

現在，如果我們繼續看幻燈片11，它顯示了我們客戶群的代表性群體，包括世界各地商業實體、多戶綜合體、規劃社區、醫療保健設施、車隊和市政當局的許多知名品牌，這是一個非常多樣化的客戶群。

As we've said before, we deploy the right charger at the right place at the right time. And as we continue into 2024, our priorities remain laser focused on 3 things. Number one, continuing to pursue strategic partnerships in key vertical markets to gain market share.

正如我們之前所說，我們在正確的時間、正確的地點部署正確的充電器。進入 2024 年，我們的首要任務仍然集中在三件事上。第一，繼續在關鍵垂直市場尋求策略夥伴關係，以獲得市場份額。

Number two, driving higher-margin software and recurring services revenues by increasing our Blink-owned network footprint and complementary software services. And finally, number three, continuing to manage costs across the business to position Blink for long-term success. Blink has the highest gross margins today among comparative peers and we intend to pursue further margin expansion.

第二，透過增加我們 Blink 擁有的網路覆蓋範圍和補充軟體服務來推動更高利潤的軟體和經常性服務收入。最後，第三點是繼續管理整個業務的成本，以使 Blink 取得長期成功。 Blink 目前在同業中擁有最高的毛利率，我們打算進一步擴大利潤率。

So with this, I'll pass the call on to Michael Rama, our Chief Financial Officer.

因此，我會將這個電話轉給我們的財務長 Michael Rama。

Thank you, Mike and good afternoon, everyone. Turning to slide 14. Total revenue in the second quarter of 2024 was $33.3 million, an increase compared to $32.8 million in the second quarter of 2023. Revenue in the first half of 2024 was $70.8 million which is an increase of 30% compared to $54.5 million in the first half of 2023.

謝謝麥克，大家下午好。轉向投影片 14。2024 年第二季的總收入為 3,330 萬美元，比 2023 年第二季的 3,280 萬美元有所增長。 2023年上半年達100萬。

Product sales in the second quarter of 2024 were $23.6 million compared to $24.6 million in the second quarter of 2023. The first half of 2024 product sales were $51.1 million which is an increase of 25% compared to $41 million in the first half of 2023.

2024 年第二季的產品銷售額為2,360 萬美元，而2023 年第二季為2,460 萬美元。 %。

Second quarter 2024 service revenue which consists of charging service revenues, network fees and car sharing revenues, were $8 million, an increase of 15% compared to the second quarter of 2023. For the first half of 2024, service revenue was $16.2 million, a 38% increase compared with the first half of 2023.

2024年第二季服務收入（包括充電服務收入、網路費用和汽車共享收入）為800萬美元，較2023年第二季成長15%。第二季成長15%。

The year-over-year growth was primarily driven by greater utilization of our chargers, the increased number of chargers on blank networks and revenues associated with our car sharing programs.

同比增長主要是由於我們的充電器利用率提高、空白網路上的充電器數量增加以及與我們的汽車共享計劃相關的收入推動的。

Gross profit for the second quarter of 2024 was $10.7 million compared to $12.3 million for the same period last year. As a percentage of revenue, gross margin was 32% in the second quarter of 2024. Gross profit for the first half of 2024 was $24.1 million compared to $16.8 million for the same period last year.

2024 年第二季的毛利為 1,070 萬美元，而去年同期為 1,230 萬美元。以佔營收的百分比計算，2024 年第二季的毛利率為 32%。

As a percentage of revenue, gross margin for the first half of 2024 was 34% compared to 31% in the first half of last year. Blink generates the highest gross margin in the industry among comparable peers and competitors. What is more important to emphasize next is the significant progress we have made in reducing our total operating expenses year-over-year.

以佔收入的百分比計算，2024 年上半年的毛利率為 34%，而去年上半年為 31%。在同類同業和競爭對手中，Blink 的毛利率是業界最高的。接下來更重要的是要強調的是我們在同比減少總營運費用方面取得的重大進展。

Blink's total operating expenses for the second quarter of 2024 were $31.4 million. That is a 41% reduction when compared with the second quarter of 2023 and primarily driven by a 54% reduction in compensation expense and another 24% reduction in G&A expenses.

Blink 2024 年第二季的總營運費用為 3,140 萬美元。與 2023 年第二季相比減少了 41%，主要是因為薪資費用減少了 54%，一般管理費用又減少了 24%。

This is the result of disciplined and continuous cost optimization and avoidance actions that we've implemented over the last 6 quarters. We are not done yet and we have additional measures being implemented now.

這是我們在過去 6 個季度實施的嚴格、持續的成本優化和避免行動的結果。我們還沒有完成，我們現在正在實施其他措施。

As a result of these actions, our cash burn for the second quarter of 2024, excluding the onetime debt payment, was $12.6 million. Sequentially, that is a 32% and 38% reduction compared to the fourth quarter of 2023 and first quarter of 2024, respectively.

由於這些行動，我們 2024 年第二季的現金消耗（不包括一次性債務支付）為 1,260 萬美元。與 2023 年第四季和 2024 年第一季相比，分別減少了 32% 和 38%。

On average, we've reduced our cash burn by more than 1/3 compared to our previous 2 quarters sequentially, excluding onetime debt payments. Adjusted EBITDA for the second quarter of 2024 was a loss of $14.7 million, compared to a loss of $13.5 million in the prior year period.

平均而言，與前兩季相比，我們的現金消耗減少了 1/3 以上，不包括一次性債務支付。 2024 年第二季調整後 EBITDA 虧損 1,470 萬美元，而上年同期虧損 1,350 萬美元。

Adjusted EBITDA for the first half of 2024 was a loss of $24.9 million compared to a loss of $31.3 million in the first half of 2023. Adjusted EBITDA for the 3 and 6 months ended June 30, 2024, excludes the impact of nonrecurring items such as acquisition-related costs, additional stock-based compensation expense, estimated loss related to underperforming assets of a subsidiary, change in the fair value related to a consideration payable and onetime nonrecurring expenses.

2024 年上半年調整後 EBITDA 虧損 2,490 萬美元，而 2023 年上半年虧損 3,130 萬美元。相關成本、額外股票補償費用、與子公司表現不佳的資產相關的預期損失、與應付對價相關的公允價值變動以及一次性非經常性費用。

Now, EPS for the second quarter of 2024 was a loss of $0.20 per share compared to a loss of $0.67 per share in the prior year period. EPS for the first half of 2024 was a loss of $0.37 per share compared to a loss of $1.20 per share for the first half of 2023.

目前，2024 年第二季每股收益為每股虧損 0.20 美元，而去年同期為每股虧損 0.67 美元。 2024 年上半年每股盈餘虧損 0.37 美元，而 2023 年上半年每股虧損 1.20 美元。

For the 3 months ended June 30, 2024, the weighted shares outstanding was 101 million shares compared to 61.9 million shares outstanding for the 3 months ended June 30, 2023. Adjusted earnings per share for the second quarter of 2024 was a loss of $0.18 per share compared to a loss of $0.44 per share in the prior year period.

截至2024 年6 月30 日的3 個月，加權流通股為1.01 億股，而截至2023 年6 月30 日的3 個月流通股為6,190 萬股。每股虧損0.18 美元。

Adjusted earnings per share in the first half of 2024 is a loss of $0.31 per share compared to a loss of $0.92 per share in the first half of 2023.

2024 年上半年調整後每股盈餘為每股虧損 0.31 美元，而 2023 年上半年為每股虧損 0.92 美元。

Non-GAAP adjusted EPS is defined as adjusted net income or loss which excludes the amortization of intangible assets, acquisition-related costs, estimated loss related to underperforming assets of subsidiary, changes in fair value related to consideration payable and onetime nonrecurring expenses 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收入或虧損，不包括無形資產攤銷、收購相關成本、與子公司表現不佳資產相關的估計損失、與應付對價和一次性非經常性費用相關的公允價值變動除以加權平均已發行股票。

Now, as for the balance sheet, cash and cash equivalents at June 30, 2024 was $73.9 million compared to $93.5 million at the end of the first quarter of 2024. During the second quarter, Blink paid off in full $6.9 billion of notes payable associated with the Envoy acquisition. Currently, we have no such debt obligations on the balance sheet.

現在，就資產負債表而言，截至2024 年6 月30 日的現金和現金等價物為7,390 萬美元，而2024 年第一季末為9,350 萬美元。的相關應付票據。目前，我們的資產負債表上沒有此類債務。

Now, turning to slide 15. Here, I would like to revisit the significant decline in our total operating expenses as a percentage of revenue and the progress that we've made over the last 6 quarters. Total operating expenses were 170% of revenue in 2022.

現在，轉向幻燈片 15。 2022 年總營運支出佔收入的 170%。

In 2024, we have reduced this number by 8,200 basis points which is more than half, demonstrating that our strategy of balancing our expenses while preparing for the future is working.

2024 年，我們將這一數字減少了 8,200 個基點，即一半以上，這表明我們在為未來做好準備的同時平衡支出的策略正在發揮作用。

Now this concludes my prepared remarks. I'm going to turn the call back over to Brendan Jones for a few final comments. Go ahead, Brendan.

我準備好的發言到此結束。我將把電話轉回給布倫丹瓊斯，以獲得一些最後的評論。繼續吧，布倫丹。

Thanks, Michael. So folks, in Q2 Blink achieved growth driven by profitable and recurring revenue from services. We saw some softness on the product side in the second quarter which was driven by the current environment for EV sales. The EV market as a whole, it slightly dipped in Q1 and then it grew slightly in Q2. But overall, it is flat for the first half of 2024. Our total revenue is in line with this trend at that time.

謝謝，麥可。因此，夥計們，在第二季度，Blink 在服務的盈利和經常性收入的推動下實現了增長。我們看到第二季產品方面出現了一些疲軟，這是由當前電動車銷售環境所推動的。整個電動車市場，第一季略有下降，第二季略有成長。但整體來說，2024年上半年是持平的。

For the full year of 2024, Blink is adjusting its revenue target to between $145 million and $155 million. The company is also updating its timeline to achieve EBITDA -- positive adjusted EBITDA during 2025 now. We are maintaining our gross margin target of approximately 33%, supported by efforts of continuous improvement.

對於 2024 年全年，Blink 將其營收目標調整為 1.45 億美元至 1.55 億美元之間。該公司也正在更新其實現 EBITDA 的時間表——即 2025 年正調整後的 EBITDA。在持續改善的支持下，我們維持約 33% 的毛利率目標。

Now when we focus on the robust increase in service revenue and significant reduction in expenses this quarter, this demonstrates the underlying strength of our business model.

現在，當我們專注於本季服務收入的強勁成長和費用的大幅減少時，這表明了我們業務模式的潛在優勢。

Our number 1 priority is to continue to structurally adjust for the future demand growth while also remaining nimble and responsive to changing market conditions. Blink's synergies, our cost cutting and our cost avoidance actions will continue through 2024 and beyond.

我們的首要任務是繼續針對未來需求成長進行結構性調整，同時保持彈性並回應不斷變化的市場條件。 Blink 的綜效、我們的成本削減和成本規避行動將持續到 2024 年及以後。

We also will continue to advance our vertical integration strategy with production of high-quality Buy America compliant chargers from our facility in Maryland but at the same time, we are going to leverage our expanded manufacturing capabilities in the US and globally to drive cost reduction, increase synergies and service our global customers.

我們也將繼續推進我們的垂直整​​合策略，從我們位於馬裡蘭州的工廠生產符合「Buy America」標準的高品質充電器，但同時，我們將利用我們在美國和全球範圍內擴大的製造能力來推動成本降低，增強協同效應並為我們的全球客戶提供服務。

Now, let me summarize a few things that were mentioned earlier. During the second quarter, we continued to gain market share and expand our charging footprint. While our sales performance reflected the general short-term softening of EV demand, we are unquestionably still at the forefront of massive charger infrastructure build-out that is going to be with us for many decades to come.

現在，讓我總結一下前面提到的一些事情。第二季度，我們繼續獲得市場份額並擴大充電足跡。雖然我們的銷售業績反映了電動車需求的短期普遍疲軟，但毫無疑問，我們仍然處於大規模充電基礎設施建設的最前沿，而這種基礎設施將在未來幾十年內伴隨我們。

Blink is the third largest network in the US with a growing network in Europe. As a result, we are well positioned to benefit from this long-term trend for EVs.

Blink 是美國第三大網絡，在歐洲的網路也不斷發展。因此，我們處於有利地位，可以從電動車的這一長期趨勢中受益。

If we look at the product, the Blink -- the breadth of Blink's product lineup, combined with our flexible offerings differentiates us in the marketplace and establishes the company as a leading provider of electric vehicle charging solutions that can meet the demands of virtually all customers across the board.

如果我們看一下產品，Blink——Blink 產品線的廣度與我們靈活的產品相結合，使我們在市場上脫穎而出，並使公司成為電動車充電解決方案的領先供應商，幾乎可以滿足所有客戶的需求全面。

In the second quarter, we continued to diversify our product sales to include more Level 2 charging equipment. Moreover, we anticipate that our enhanced focus on services and software solutions and integrating our product into the broader grid will allow us to expand our addressable market and increase revenue.

第二季度，我們持續實現產品銷售多元化，包括更多二級充電設備。此外，我們預計，我們對服務和軟體解決方案的更加關注以及將我​​們的產品整合到更廣泛的網格中將使我們能夠擴大我們的潛在市場並增加收入。

We also significantly reduced our operating expenses by 41% compared to the second quarter of 2023 as we continue to drive efficiencies, scale our business and focus on reaching sustainable adjusted EBITDA profitability.

與 2023 年第二季相比，我們的營運費用大幅減少了 41%，因為我們繼續提高效率、擴大業務規模並專注於實現可持續的調整後 EBITDA 獲利能力。

With our unique vertically integrated model, we believe that Blink is well positioned to drive long-term growth and value for our stakeholders. We remain committed to expanding our global charging footprint and leaning into our mission of advancing energy transition through innovative charging solutions.

憑藉我們獨特的垂直整合模式，我們相信 Blink 能夠很好地為我們的利害關係人推動長期成長和價值。我們仍然致力於擴大我們的全球充電足跡，並致力於透過創新充電解決方案來推動能源轉型的使命。

And before we end this call, it is important to note that we believe we've created the best team in the charging industry. I would like to thank our team across the globe who is implementing our plan and taking care of our customers.

在結束本次電話會議之前，需要指出的是，我們相信我們已經創建了充電行業中最好的團隊。我要感謝我們在全球的團隊正在實施我們的計劃並照顧我們的客戶。

And I also want to thank our customers and our drivers for trusting Blink with their charging needs and for being part of this transportation and energy revolution. Blink is successful because of our team; our team listens, they learn and they lead in this industry.

我還要感謝我們的客戶和駕駛者信任 Blink 來滿足他們的充電需求，並成為這場交通和能源革命的一部分。 Blink的成功，因為我們的團隊；我們的團隊傾聽、學習並在這個行業中處於領先地位。

With that, I think we're ready to take some questions. So we'll turn it over.

至此，我想我們已經準備好回答一些問題了。所以我們會把它翻過來。

(Operator Instructions) (technical difficulty)

（操作說明）（技術難度）

Good evening. Thanks for taking my questions. So Brendan, can you maybe talk a little bit about linearity of demand during the quarter and how things have progressed over the last few weeks? The weakness that you saw that you reported on the last quarter, I guess I didn't understand that to be something that was as material as what transpired. Can you say whether or not things deteriorated from that point?

晚安.感謝您回答我的問題。那麼，布倫丹（Brendan），您能否談談本季的需求線性以及過去幾週的進展？您在上個季度報告中看到的弱點，我想我不認為這是與所發生的事情一樣重要的事情。你能說從那時起事情是否惡化了？

Or maybe if we hit a trough and saw sort of typical linearity? And then a second part of that question. Bowie, Maryland is a great investment. Obviously, you've got key customers in there that like to buy -- well, the made in America product.

或者，如果我們遇到低潮並看到某種典型的線性？然後是該問題的第二部分。馬裡蘭州鮑伊是一項巨大的投資。顯然，那裡有一些喜歡購買美國製造產品的重要客戶。

But in the quarter, you said there was a shift in product mix to third-party manufactured products. Is the market asking for something slightly different right now? What should we know about the revenue channel and what's driving volumes right now?

但在本季度，您表示產品組合發生了向第三方製造產品的轉變。市場現在要求的東西是否略有不同？關於營收管道我們應該了解哪些以及目前推動銷售成長的因素是什麼？

Okay. I'm going to start with the last question, then refresh me and we'll go back to the first question, all right? So looking at product, it's not that there's a change in customer demand on that. It's just that in our fully vertically integrated model, there's a miss on what's called a single plug unit.

好的。我將從最後一個問題開始，然後刷新我的想法，然後我們再回到第一個問題，好嗎？所以從產品來看，並不是說客戶需求改變了。只是在我們完全垂直整合的模型中，缺少所謂的單一插頭單元。

We have a dual plug unit which is very cost effective and drives down the acquisition cost for our customers. But when it's a single port charger that is needed, that has historically been a third-party product that we've gotten. So the demand for that slightly did increase.

我們有一個雙插頭裝置，非常具有成本效益，可以降低客戶的採購成本。但當需要單埠充電器時，我們一直使用第三方產品。所以對此的需求確實略有增加。

And so we had to use the third party at a lower margin factor on that particular product. And that's been consistent through our history.

因此，我們必須在該特定產品上以較低的利潤率使用第三方。這在我們的歷史中一直是一致的。

Now we're working to sunset that. What's going to happen, though, is our replacement charger that is being built by us, either in Bowie, Maryland and sourced globally as well out of our manufacturing facility in India, that's going to replace this charger.

現在我們正在努力解決這個問題。不過，即將發生的是我們正在馬裡蘭州鮑伊製造的替換充電器，以及從我們位於印度的製造工廠在全球採購的替換充電器，這將取代這個充電器。

And so that's going to alleviate this legacy issue that we have on some of the revenue now -- on the margins. Now, keep in mind, we still maintain best-in-class margins despite that. So there's a lot of things that go into the equation.

因此，這將緩解我們現在在部分收入上存在的遺留問題——在利潤方面。現在，請記住，儘管如此，我們仍然保持著一流的利潤率。所以有很多因素要考慮。

So the industry -- look, when you look at the sales and the numbers in first quarter were somewhere around 73% which were much lower than they were at the end of calendar year '23. They buoyed up and got a little bit above prior year, somewhere just over 8% for Q2. But they sort of stood there and that's flat, right?

因此，當您查看第一季的銷售額和數字時，該行業約為 73%，這比 23 日曆年末的情況要低得多。他們的表現上升，略高於去年同期，第二季略高於 8%。但他們就站在那裡，那是平坦的，對吧？

So we were predicting earlier that industry volume would be up to 10-plus percent and even higher in some indices. So that's primarily one of the drivers of what we saw in the lower activity and higher volumes on L2 charging and some DC charging as well which is a big revenue source for us as well.

因此，我們先前預測產業成交量將高達 10% 以上，在某些指數中甚至更高。因此，這就是我們看到 L2 充電和一些直流充電活動減少和數量增加的主要驅動因素之一，這對我們來說也是一個重要的收入來源。

Now, you couple that in the US with some of the political uncertainty and even some of the naysayers on EVs when it became politicized. I think that added to this equation that we saw. But we continue to see positive signs in the future.

現在，你將美國的一些政治不確定性，甚至當電動車政治化時的一些反對者聯繫起來。我認為這增加了我們看到的這個等式。但我們未來仍會看到正面的跡象。

We continue to hear customers that we have open contracts with that are into Q4 and some announcements today, we got into Q1 of next year, that they're not backing off. They may have delayed a bit but they're not backing off. So we're very, very encouraged by that. We see the market rebounding a bit on the vehicle side. We continue to see the OEMs invest in charging and then invest in electric vehicles.

我們繼續聽到客戶說我們與第四季度有未平倉合同，今天有一些公告，我們進入明年第一季度，他們不會退縮。他們可能會推遲一點，但他們不會後退。所以我們對此感到非常非常鼓舞。我們看到汽車方面的市場略有反彈。我們繼續看到原始設備製造商投資充電，然後投資電動車。

Another announcement out today about Hyundai is investing in Taiwan to make sure that they have the component strategy for their massive increase in the EV sales. And that was another sizable investment by Hyundai. So, I think we're in this soft spot; we're seeing this soft spot is going to alleviate and lift. There might be some slowness in Q3 but definitely as we get into Q4 and beyond, we see the industry recharging itself, excuse the pun, and moving forward.

今天發布的另一項有關現代汽車的公告是在台灣投資，以確保他們擁有實現電動車銷量大幅成長的零件策略。這是現代汽車的另一筆巨額投資。所以，我認為我們正處於這個軟肋；我們看到這個弱點將會得到緩解和提升。第三季可能會有些緩慢，但隨著我們進入第四季度及以後，我們肯定會看到該行業正在自我充電，請原諒雙關語，並繼續前進。

I like the pun. I definitely like the pun. (technical difficulty) If we could touch on the linearity in the quarter and how things are trending post quarter, that would be really helpful.

我喜歡這個雙關語。我絕對喜歡這個雙關語。 （技術難度）如果我們能夠了解本季的線性以及季度後的趨勢，那將非常有幫助。

Okay. In terms of which part of the business?

好的。就業務的哪一部分而言？

The revenue progression. So I understand there's always a hockey stick into the end of the quarter. But can you maybe -- the softness that you noted, right, when you noted that last quarter, many of us hadn't weighed that as significantly as what materialized, right?

收入進展。所以我知道每節末總會有曲棍球棒。但你能不能——你注意到的疲軟，對吧，當你注意到上個季度時，我們中的許多人並沒有像實際發生的那樣嚴重衡量這一點，對嗎？

So it was very early in the quarter and you tend to -- the visibility builds, right? Can you talk about how the progression of the quarter compared to a typical quarter for you? Where did we see things move to the point where you elected to adjust your guidance to some changing market conditions?

所以那是在本季的早期，你傾向於——可見性增強，對嗎？您能否談談與您的典型季度相比，本季的進展如何？我們在哪裡看到事情發展到了您選擇根據某些不斷變化的市場條件調整指導的地步？

Yes. We adjusted the guidance because, I mean, number one, we didn't see that strength in Q2. So as a result, we were forced to adjust it. We see in our numbers, though, that month-over-month sales are improving. But what we're not going to do is getting into giving quarter-over-quarter guidance here.

是的。我們調整了指導，因為，我的意思是，第一，我們在第二季度沒有看到這種優勢。因此，我們被迫進行調整。不過，我們從數據中看到，銷量較上月正在改善。但我們不會在這裡給出季度指導。

Michael -- whoops, I got to go Mike Battaglia -- you want to add any color to that?

麥可——哎呀，我得去麥克·巴塔利亞——你想為此添加任何色彩嗎？

Yes. So as we started off the quarter, we saw that softness and that seemed, to use your term, the linearity of it continued through May and June. As you had pointed out, we always see a bump in the last month of the quarter and we saw that bump.

是的。因此，當我們在本季開始時，我們看到了這種疲軟，用你的話來說，它的線性似乎持續到了五月和六月。正如您所指出的，我們總是會在本季度的最後一個月看到成長，並且我們看到了這種成長。

It just wasn't as strong as we've seen in prior quarters. So we -- that's really primarily what drove it and that's what caused us to adjust the full year.

只是沒有我們在前幾季看到的那麼強勁。所以我們——這實際上是推動它的主要因素，也是導致我們調整全年的原因。

Understood. Then the 33 gigawatts in network throughput, that's a chunky number. That's a nice growth number and it's nice to see that drive 15% growth in the service revenue. Can you maybe talk a little bit about utilizations across the network?

明白了。然後是 33 吉瓦的網路吞吐量，這是一個很大的數字。這是一個不錯的成長數字，很高興看到這推動服務收入成長 15%。您能否談談網路上的使用率？

Are there areas of the network maybe where you need to supplement available charge posts? Are there some bright spots out there as far as opportunities for investment, given the strong growth in network throughputs?

網路中是否有某些區域可能需要您補充可用的收費站？鑑於網路吞吐量的強勁成長，是否存在一些投資機會的亮點？

So I think I understood the question. If I'm not answering correctly, hit me or Mike or Mike will jump in and answer. So I mean, in terms of the back off in long-term investments, we're not seeing it. We're engaged right now and we'll have some announcements on some pretty lucrative owner-operator deals that we're fully involved in in both the United States and Europe.

所以我想我理解了這個問題。如果我沒有正確回答，請打我，否則麥克就會跳出來回答。所以我的意思是，就長期投資的縮減而言，我們沒有看到這種情況。我們現在正在參與其中，我們將宣布一些利潤豐厚的業主營運商交易，我們在美國和歐洲都全面參與了這些交易。

We're seeing an uptick on a percent of activity. And what we measure by that is we look at revenue coming and it's had this balance about, in Europe, 80%-20%, meaning 80% it's owner-operator and 20% is usually sales.

我們看到活動百分比上升。我們以此來衡量的是，我們著眼於未來的收入，在歐洲，它的平衡約為 80%-20%，這意味著 80% 是所有者經營者，20% 通常是銷售額。

In the US 25% is usually owner-operated and then the rest 75% is sales. What we've witnessed in Q2 is a significant uptick in owner-operator investments and the good thing for Blink is that fits under what's called our hybrid model. And that's where that we pay for the charger, the maintenance, the upkeep, the swapping out of the charger, the site house pays for the installation and then we split the revenue on a 60-40.

在美國，25% 通常是業主經營，其餘 75% 是銷售。我們在第二季度見證了業主經營者投資的顯著增加，而 Blink 的好處是它符合我們所謂的混合模式。這就是我們支付充電器、維護、保養、更換充電器的費用，現場公司支付安裝費用，然後我們以 60-40 的比例分配收入。

Right now, that picked up significantly, as Mike indicated in his numbers. The other spot we're going to keep focusing on and where we're seeing growth right now is in multifamily and fleet. So fleet operators aren't slowing down as much.

正如麥克在他的數據中所表明的那樣，現在這一數字顯著上升。我們將繼續關注的另一個領域是多戶住宅和車隊，目前我們看到了成長。因此車隊營運商的速度並沒有那麼慢。

And as you all know, we still have a very lucrative contract with the post office. We can't comment directly on what we'll see in that. But that contract remains in place and we have confirmation that we'll be getting additional orders on that, although the dollar amount and the time frame we're not at liberty to disclose at this time.

眾所周知，我們仍然與郵局簽訂了一份非常有利可圖的合約。我們無法直接評論我們將在其中看到的內容。但該合約仍然有效，我們已確認我們將收到額外的訂單，儘管我們目前無法隨意透露金額和時間範圍。

Michael, any additional color on that? Battaglia, that is.

邁克爾，還有其他顏色嗎？巴塔利亞，就是這樣。

Yes, just a real quick. So Craig, I've been at Blink now 4 years. And one of the things that I love is the fact that our analytical capabilities continue to get better and better. So to your point, one of the things we are doing now is looking deep within the existing customer base and identifying those locations where we see the need for additional chargers.

是的，只是很快。克雷格，我在 Blink 工作已有 4 年了。我喜歡的事情之一是我們的分析能力不斷變得越來越好。因此，就您的觀點而言，我們現在正在做的事情之一是深入了解現有客戶群，並確定我們認為需要額外充電器的位置。

Now it presents a pretty interesting opportunity where we can do really 1 of 2 things. One is if we own the chargers at the site, we can expand them. But the second one is we can offer to take over chargers that, for instance, a host owns that -- where they're faced with wanting to add more chargers but maybe don't have the budget to do it or whatever it may be. So we're looking at it on both fronts.

現在它提供了一個非常有趣的機會，我們可以真正做兩件事中的一件。一是如果我們擁有現場的充電器，我們就可以對其進行擴展。但第二個是我們可以提出接管充電器，例如，主機擁有該充電器 - 他們面臨著想要添加更多充電器但可能沒有預算來做到這一點或其他任何事情。所以我們從兩個方面來考慮。

And as I mentioned in my comments, we're also looking more and more at high utilization DC fast charger sites in a responsible way that Blink approaches this. So yes, there's opportunity out there to do more on the owner-operator and high utilization front.

正如我在評論中提到的，我們也越來越多地以負責任的方式尋找高利用率直流快速充電器站點，Blink 正在接近這一點。所以，是的，我們有機會在業主經營者和高利用率方面做更多的事情。

And I would only add to that which is really interesting in this space is the advent of AI and our engagement with companies that are focusing on equations that equal higher revenue on a site basis with better station economics, right placement, that is some -- it's really fascinating to see what those numbers bear out.

我只想補充一點，這個領域真正有趣的是人工智慧的出現，以及我們與那些專注於等式的公司的合作，這些等式等於在站點基礎上獲得更高的收入，更好的站經濟效益，正確的佈局，就是這樣——看看這些數字所證實的內容真的很有趣。

And we'll have more on that as we move out into additional quarters with our engagement with those type of companies.

當我們進入其他季度與此類公司合作時，我們將獲得更多相關資訊。

Great. Congratulations on a really strong job bringing down the frictional costs. It's impressive. You've got them down so much year-over-year.

偉大的。恭喜您取得了非常出色的工作，並降低了摩擦成本。令人印象深刻。你已經讓它們逐年下降了很多。

Sure. Thanks.

當然。謝謝。

William Grippin, UBS.

威廉‧格里平，瑞銀集團。

And my first question was just wondering if you could give us an update on where you stand with the Blink Mobility spin-off. I think you had referenced that last quarter.

我的第一個問題只是想知道你是否可以向我們介紹一下你對 Blink Mobility 衍生產品的最新看法。我想你上個季度已經提到過這一點。

Yes. So it's a great question. So we just met with the team that is spinning off the company yesterday. So the S-1 is basically almost complete. We have a few more things we have to tweak in it. Roth is a selected company that is doing the spin with us right now. We've got -- the decks are done to go on the investor roadshow.

是的。所以這是一個很好的問題。所以我們昨天才剛會見了正在剝離公司的團隊。所以S-1基本上已經完成了。我們還有一些東西要調整。 Roth 是一家選定的公司，現在正在與我們一起進行旋轉。我們已經準備好了可以參加投資人路演的牌組。

We're paying attention to market feedback right now in terms of what is the market like. Is the IPO the right way to go? And then we're also working on the cost side to make sure that we're reducing the expenses overall across the board.

我們現在正在關注市場的回饋，了解市場的情況。 IPO是正確的出路嗎？然後我們還在成本方面開展工作，以確保我們全面減少開支。

So there's a lot of expenses that we have an opportunity on both the BlueLA model and the Envoy model but in particular the BlueLA model to begin to reduce significantly. Those activities are now fully underway. We'll have a timeline update on when they're going to materialize in the numbers. But we feel optimistic.

因此，我們有機會在 BlueLA 模型和 Envoy 模型上，特別是 BlueLA 模型上開始大幅減少大量費用。這些活動現已全面展開。我們將更新時間表，說明它們何時會在數字中實現。但我們感到樂觀。

The IPO market isn't great right now but we believe the fundamentals of the spin as we move into the back half of Q3, into Q4 that there's going to be an opportune window to go ahead and go ahead and spin the company off. Mr. Rama, any clarity around that?

目前 IPO 市場狀況不佳，但我們相信，隨著進入第三季後半段和第四季度，分拆的基本面將出現一個合適的窗口來繼續分拆公司。拉瑪先生，對此有任何澄清嗎？

No, I think it's the market. We had to look at the market, how it's being perceived and the timing and stuff like that.

不，我認為是市場。我們必須關注市場、人們如何看待它以及時機等等。

Yes.

是的。

All right. Appreciate that color. And then just last one for me here. But on the DCFC segment, could you elaborate a bit on how you're thinking about positioning or investing in that part of the market as throughput continues to increase across DCFC networks?

好的。欣賞那個顏色。然後是我這裡的最後一個。但在 DCFC 領域，您能否詳細說明一下，隨著 DCFC 網路的吞吐量持續增加，您如何考慮定位或投資這部分市場？

Yes, absolutely. So DC fast charger as an owner operator is a different beast entirely. So what we've adopted and has been serving us very well as a company is we're not going to plant flags as a company. There's other companies that are planting flags.

是的，一點沒錯。因此，直流快速充電器作為業主運營商是完全不同的野獸。因此，作為一家公司，我們所採取的並且一直為我們提供良好服務的是，我們不會作為一家公司插上旗幟。還有其他公司正在插旗。

And we're not going to put a charger in the ground that doesn't have positive station economics or positive station economics within a basic ROI time frame. Typically, we look for 4 years or shorter on that. If there is a DC fast charger project, if there's government funding and we can meet that, then we engage in that project and we're getting some of those projects now.

我們不會將沒有積極的充電站經濟效益或在基本投資回報率時間範圍內沒有積極的充電站經濟效益的充電器埋入地下。通常，我們會期待 4 年或更短的時間。如果有一個直流快速充電器項目，如果有政府資助並且我們能夠滿足這一要求，那麼我們就會參與該項目，並且我們現在正在獲得其中一些項目。

And the same thing, even if there isn't grant money, if we can still engage in that project and it's going to have that return, then we're going to do it. Blink is not like some of the other folks that are engaged in DC. We're not a cost of sale model.

同樣的事情，即使沒有補助金，如果我們仍然可以參與該專案並且它將獲得回報，那麼我們就會這樣做。 Blink 與其他一些從事 DC 的人不同。我們不是銷售成本模型。

So when we do a DC fast charger, we do it for a return on investment in the short term. And as I said, it's 4 to 5 years we look for on that ROI. And we're starting to see this.

所以我們做直流快充充電器的時候，都是為了短期內的投資報酬。正如我所說，我們需要 4 到 5 年的投資報酬率。我們開始看到這一點。

Now on the sales side, last year we had a big sales year on DC fast chargers. It's very different this year. And when you break out the numbers, you'll see that we transitioned rather successfully away from heavy DC and replaced a lot of that revenue with the increase in service revenue and the increase in L2 sales.

現在在銷售方面，去年我們的直流快速充電器銷售量很大。今年情況非常不同。當您查看這些數字時，您會發現我們相當成功地擺脫了重型 DC 的轉型，並用服務收入的增加和 L2 銷售的增加取代了大部分收入。

Now, we think DC is going to bounce back but it's going to bounce back more in a fleet setting and more in a commercial setting for big commercial companies, et cetera and then continue inroads for highway infrastructure.

現在，我們認為華盛頓特區將會反彈，但它將更多地在車隊環境中反彈，更多地在大型商業公司的商業環境中反彈，等等，然後繼續進軍高速公路基礎設施。

So -- but then our preference on DC is leaning heavily now to more owner-operated and more strategic locations in downtown areas and high urban transportation areas where people drive and live with their EVs.

所以，但我們對華盛頓特區的偏好現在很大程度上傾向於市中心地區和城市交通發達地區的更多業主經營和更具戰略意義的地點，人們在這些地方駕駛和居住電動車。

Stephen Gengaro, Stifel.

史蒂芬·根加羅，斯蒂菲爾。

So just curious, when you look at the charging revenue side, can you give us any sense for sort of Tesla versus non-Tesla charging at Blink stations?

所以我很好奇，當你看充電收入方面時，你能給我們介紹一下 Blink 充電站的特斯拉充電與非特斯拉充電的差異嗎？

Yes. I mean, if we look at plug-ins, right, Tesla still remains our number 1 brand that's plugging in but the percentage is reducing over time. And that's not because there's anything wrong with Tesla. That's because there's more vehicles out there from competitors.

是的。我的意思是，如果我們看看插件，對吧，特斯拉仍然是我們插件的第一品牌，但隨著時間的推移，百分比正在下降。這並不是因為特斯拉有什麼問題。那是因為競爭對手有更多的車輛。

So Tesla, especially on the.

所以特斯拉，尤其是在。

(technical difficulty)

（技術難度）

Say that again.

再說一次。

Oh, no, that was what I was getting at. Are you seeing growth on the non-Tesla side, I guess it's sort of the root of the question.

哦，不，這就是我的意思。你是否看到非特斯拉方面的成長，我想這就是問題的根源。

Yes. I mean the entire industry is. There are several OEMs that will -- and there's no problem at Tesla, right? It's this, they're in this position where they have to heavily incentivize because their fleet of EVs is a little older.

是的。我的意思是整個產業都是。有幾家原始設備製造商會這樣做——特斯拉沒有問題，對吧？正是這樣，他們處於必須大力激勵的境地，因為他們的電動車隊有點老了。

And you got a lot of new cars coming on the market and the competition is getting intense which is good for the overall industry to drive down cost. So definitely, all the data indicates that GM, Hyundai, Kia, BMW, all have seen increased EV sales, while Tesla has flattened up and seeing a little lower, in some cases on sales. So -- and that's good news. And think about it.

市場上有許多新車上市，競爭越來越激烈，有利於整個產業降低成本。因此，可以肯定的是，所有數據都表明，通用汽車、現代、起亞、寶馬的電動車銷量均有所增加，而特斯拉則持平，在某些情況下銷量略有下降。所以——這是個好消息。想想吧。

When we said 40% of new vehicle launches are going to be EV on top of all the other markets out there, the competition is just increasing moving forward. So we'll see Tesla become smaller as a portion but it still might be the number 1 single brand that's charging on our stations right now.

當我們說 40% 的新車發布將是電動車（超過所有其他市場）時，競爭只會越來越激烈。因此，我們將看到特斯拉的份額變得更小，但它仍然可能是目前在我們的充電站充電的第一大單一品牌。

Great. And just a quick one. When you think about just kind of revenue growth as you think about 2025, should we just sort of think about how we're modeling EV adoption and EV sales to kind of use as a proxy, at least in the near term?

偉大的。只是一個快速的。當您像考慮 2025 年那樣考慮收入成長時，我們是否應該考慮如何對電動車採用和電動車銷售進行建模，以作為代理，至少在短期內如此？

Certainly there's a higher correlation between L2 sales on both the in-home and municipal and even to some degree on the fleet level as the total industry volume, whether commercial or privately owned vehicles, there's a correlation there.

當然，家用和市政的 L2 銷售之間存在更高的相關性，甚至在某種程度上在車隊層面上，因為行業總銷量（無論是商用車還是私人擁有的車輛）都存在相關性。

You can't deny it now. And there's a lag between when that hits and then when it hits the infrastructure company in the revenue, right? However, on the utilization side, there's much more of a direct instant thing. So, our utilization went up over time because those units in operation that were sold throughout 2023 and 2024 are now utilizing our stations and they're finding more.

你現在不能否認。影響到基礎設施公司收入的時間和影響到收入的時間之間存在一個滯後，對吧？然而，在利用方面，更多的是直接即時的事情。因此，我們的利用率隨著時間的推移而上升，因為那些在 2023 年和 2024 年售出的運行中的設備現在正在使用我們的站點，而且他們發現了更多。

So the more stations we add in the ground and we saw a 4,000 unit increase in this month alone, then the more revenue we're going to get on the utilization side.

因此，我們在地面上新增的站點越多，僅本月就增加了 4,000 個站點，那麼我們在利用率方面獲得的收入就越多。

And you see that bearing out in the numbers. So it's really 2 different things you have to manage. There's that very direct correlation between sales and the selling of product. And then there's an increase, no matter what, because more cars are on the road and that's the unit in operation as opposed to total vehicle sales equation.

你可以從數字中看到這一點。所以這實際上是你必須管理的兩件不同的事情。銷售額和產品銷售之間有非常直接的關聯。然後無論如何都會增加，因為道路上行駛的汽車越來越多，這是運行中的單位，而不是汽車銷售總量方程式。

So UII is driving increased utilization and driving increased revenue for us right now.

因此，UII 目前正在推動利用率的提高並為我們帶來收入的增加。

Sameer Joshi, H.C. Wainwright.

薩米爾‧喬希 (Sameer Joshi)，H.C.溫賴特。

Can you hear me?

你聽得到我嗎？

Yes.

是的。

Yes. Okay. I would like to just dig a little deeper on the car charging revenues actually. It seems like sequentially 1Q to 2Q, they've been relatively flat or slightly down. Are you facing any uptime challenges due to maintenance or any utilization differences or shortcomings?

是的。好的。我實際上想更深入地了解汽車充電收入。看起來從第一季到第二季度，它們一直相對持平或略有下降。您是否面臨因維護或任何利用率差異或缺點而導致的正常運作時間挑戰？

Like, what is the reason for that flat revenue growth?

例如，營收成長持平的原因是什麼？

Yes, you're going to see some vacillation in the numbers where we're -- mostly you're going to see it where we're upgrading chargers, where we're taking out legacy chargers or replacing some of the original, original blank chargers with new chargers.

是的，你會看到我們的數字出現一些波動——大多數情況下你會在我們升級充電器、淘汰舊充電器或更換一些原始充電器的地方看到這種情況。充電器。

And when you take them down for that long a period of maintenance or replacement, you're going to see some changes in the numbers. Now your goal is always to offset that by having a higher number of chargers that are adding on the network.

當你把它們取下來進行這麼長時間的維護或更換時，你會看到數字發生一些變化。現在，您的目標始終是透過在網路上添加更多數量的充電器來抵消這一影響。

But when you go through some of the cleansing, so to speak, of older legacy chargers, especially taking off the network, older legacy chargers that aren't on or operated. They're site host chargers that the site host has just decided not to maintain, not to keep up. You're going to see a decrease there.

但是，當您對舊式傳統充電器進行一些清理時，尤其是斷開網路時，舊式舊式充電器無法開啟或運作。它們是網站主機充電器，網站主機剛剛決定不再維護，不再跟上。你會看到那裡的減少。

Mike, any additional color around that?

麥克，還有其他顏色嗎？

No, Brendan, I think you got it.

不，布倫丹，我想你明白了。

All right. Okay. And then should we expect maybe in the near term, next 2 to 3 to 4 quarters, a higher revenue mix, revenues coming more from Europe, not relatively but as a proportion year-over-over period or just because of the challenges in the US?

好的。好的。然後，我們是否應該預期，在短期內，接下來的2 到3 到4 個季度，收入組合會更高，收入更多來自歐洲，不是相對而言，而是同比比例，或者僅僅是因為歐洲面臨的挑戰我們？

Or how should we look at that as a revenue stream?

或者我們應該如何將其視為收入來源？

So what we can say conclusively when I'm trying to give guidance on that topic, it's almost like mini guidance, right, is that your utilization as a whole is increasing over time, right? It's got some seasonality in it which we're actually moving into that seasonality now.

因此，當我試圖就該主題提供指導時，我們可以得出結論，這幾乎就像迷你指導，對吧，您的整體利用率隨著時間的推移而增加，對吧？它有一些季節性，我們現在實際上正在進入這種季節性。

It usually starts at the beginning of the summer and then softens up on utilization significantly in August and then bounces back for the rest of the year. But overall, we expect to see an increase in Europe's percent of revenue as a percent of total Blink revenue because that's the trend, right?

通常從夏初開始，然後在八月利用率顯著下降，然後在今年剩餘時間反彈。但總體而言，我們預期歐洲收入佔 Blink 總收入的百分比將會增加，因為這是趨勢，對嗎？

They're at a higher pen rate in general. And as more countries open up and try and compete with one another for who's got the most EV adoption, competing with Norway or competing with Belgium and the Netherlands and Germany, who are the leaders in EV adoption, along with UK, who is right behind but is incentivizing, we do expect that revenue in Europe.

一般來說，他們的筆費率較高。隨著越來越多的國家開放並嘗試相互競爭誰擁有最多的電動車採用率，與挪威競爭或與比利時、荷蘭和德國競爭，這些國家是電動車採用率的領先者，而英國則緊隨其後但令人興奮的是，我們確實預期歐洲的收入。

I don't know if it's going to get even or be 50% but it's certainly going to improve from -- Michael, where is it today, 24%?

我不知道它是否會持平或達到 50%，但它肯定會有所改善——邁克爾，今天是 24%？

Yes. 24%, yes.

是的。 24%，是的。

Okay. 24% today, that we definitely see. And that's -- and just to clarify that, that's on owner-operated revenue, not on sales revenue. Sales revenue, it will improve over time but we see that more of keeping pace with the US but service revenue, we definitely see increasing in Europe over time.

好的。今天，我們確實看到了 24%。這只是為了澄清這一點，這是所有者經營的收入，而不是銷售收入。銷售收入會隨著時間的推移而改善，但我們看到更多的是與美國保持同步，但服務收入隨著時間的推移，我們肯定會看到歐洲的成長。

Understood. And just one last one. On the 2024 operational priority slide, I think during the first quarter there were mentions of implementing SaaS solutions and some energy management solutions development. Have those been like deprioritized? Or how should we look at that?

明白了。還有最後一張。在 2024 年營運優先投影片上，我認為第一季提到了實施 SaaS 解決方案和一些能源管理解決方案的開發。這些是否已被取消優先權？或者說我們該如何看待這一點？

No, absolutely. How about reemphasized?

不，絕對是。再次強調一下怎麼樣？

Just want to make sure. Yes.

只是想確定一下。是的。

So we actually -- yes, we are adding resources in both US, Europe and then in our development center outside of Delhi to make sure that we can deliver to the market on time. We have the base package out of energy management services. We're also -- into the enhanced packages right now.

所以我們實際上——是的，我們正在美國、歐洲以及德里郊外的開發中心增加資源，以確保我們能夠按時向市場交付。我們擁有能源管理服務的基礎包。我們現在也正在使用增強包。

Those are being developed. And we'll have an update as we move through quarters and we're going to see those products begin to launch. But that is a major, major strategic focus of the company. So you won't see resources declining in that area. You'll see resources improving over time.

這些正在開發中。隨著季度的進展，我們將進行更新，我們將看到這些產品開始推出。但這是公司的一個非常非常重要的策略重點。所以你不會看到該地區的資源減少。您會看到資源隨著時間的推移而改善。

Noel Parks, Tuohy Brothers.

諾埃爾·帕克斯、圖伊兄弟。

How is everything going?

最近怎麼樣？

We're good. How are you?

我們很好。你好嗎？

Real good. Thanks. Real good. I wanted to touch on your comment on multifamily and fleet. And those seem to be sort of a persistent bright spot when you look at demand among the many different submarkets.

真棒。謝謝。真棒。我想談談您對多戶型和車隊的評論。當你觀察許多不同子市場的需求時，這些似乎是一個持久的亮點。

And just thinking, is it simply that, especially I'm thinking commercially owned multifamily, is -- they're constantly in sort of an upgrade cycle or renovation cycle or in fleets, a vehicle retirement cycle, so that it's just more front burner for them when they're doing capital investments that we got to get our EV charging in as well.

只是想一想，是不是很簡單，尤其是我認為商業擁有的多戶住宅，是——它們不斷地處於升級週期或翻新週期或車隊、車輛報廢週期中，所以它只是更重要的焦點當他們進行資本投資時，我們也必須為電動車充電。

Is that a big part of the driver of what kind of keeps them going?

這是他們繼續前進的重要驅動力嗎？

Sure. What I'm going to do is let Mike answer this because he lives and breathes that on a daily basis. So, Mike?

當然。我要做的就是讓麥克回答這個問題，因為他每天都在生活和呼吸這個問題。那麼，麥克？

Yes. Thanks, Brendan. So the first part of the question on multifamily, I think the statistic is that 1/3, nearly 1/3 of American citizens live in an apartment building. And it's a big percentage in Europe as well. So just the sheer volume of that market is big. Secondly, when we look at fleets, it's a combination of things.

是的。謝謝，布倫丹。所以關於多戶家庭的問題的第一部分，我認為統計數據是1/3、近1/3的美國公民住在公寓大樓裡。在歐洲，這一比例也很大。所以這個市場的絕對容量是很大的。其次，當我們審視機隊時，它是多種因素的結合。

Number one, it's -- yes, as they -- as vehicles age and they retire those vehicles and they acquire new vehicles, we see a big movement towards battery electric. The second thing is, as the market has gained more experience with BEVs, they realize that the total cost of ownership is simply better.

第一，是的，隨著車輛老化、退役這些車輛併購買新車，我們看到了向電池電動方向發展的巨大趨勢。第二件事是，隨著市場在純電動車方面獲得了更多經驗，他們意識到總擁有成本更好。

And one of -- there's 2 big impacts to that. One of them is our maintenance costs and the other is fuel costs. And then thirdly, there are many, many fleets out there that simply have carbon reduction footprint goals and that's driving demand as well.

其中之一——這有兩個重大影響。其中之一是我們的維護成本，另一個是燃料成本。第三，有很多很多車隊只是有減少碳足跡的目標，也推動了需求。

So there's really -- it's really coming from a number of different areas but we are very bullish on the fleet market.

因此，確實來自許多不同的領域，但我們非常看好車隊市場。

Mike, did you want to add to the multifamily dwelling part?

麥克，你想添加到多戶住宅部分嗎？

I'm sorry, what part of that? Can you repeat the question?

抱歉，那是哪一部分？你能重複一下這個問題嗎？

Yes, part of this question was multifamily dwellings.

是的，這個問題的一部分是多戶住宅。

Yes. I touched on it at the beginning but what specifically.

是的。我一開始就談到了它，但具體是什麼。

Oh, I'm sorry. Never mind.

哦，對不起。沒關係。

Oh, that's okay. Noel, did I get you on the -- did I answer it on the multifamily side, or.

哦，沒關係。諾埃爾，我是不是在多戶家庭方面回答了你的問題，或者。

Yes, sure thing. Absolutely. Just the point about the size of the market is helpful.

是的，當然可以。絕對地。僅僅關於市場規模的觀點就很有幫助。

Yes.

是的。

And I was also wondering I feel like it's a core part of the story as it's evolved and as you've gone through acquisitions, it keeps coming back to business model, business model and business model, the flexibility that you offer to a wide variety of customers.

我還想知道，我覺得它是故事的核心部分，隨著它的發展，當你經歷收購時，它會不斷回到商業模式、商業模式和商業模式，以及你為各種各樣的人提供的靈活性。

And I hope that that's not sort of the so old hat that the salience of that isn't necessarily coming through. But can you just talk about maybe some recent examples, say, of a new, sizable potential customer coming to you and sort of working through the variety of business models and sort of what -- how they get to whatever outcome of adoption they choose?

我希望這不是一種陳舊的帽子，以至於其重要性不一定能體現出來。但你能不能談談最近的一些例子，比如說，一個新的、相當大的潛在客戶來找你，並透過各種商業模式進行工作，以及他們如何獲得他們選擇的採用結果？

Mike, do you want to take that?

麥克，你想要那個嗎？

Yes. Yes. Thanks, Brendan. So, Noel, in fact, we're in the midst of one that is really a great example. So there are 2 paths to this. One of them is a customer that looks at EV charging and says, you know what, I'm not an EV charging company.

是的。是的。謝謝，布倫丹。所以，諾埃爾，事實上，我們正​​處於一個非常好的例子之中。所以有兩條路可以實現。其中一位客戶在關注電動車充電時說，你知道嗎，我不是電動車充電公司。

I do -- I specialize in retail. I'm a retailer. So I would rather concentrate on retail and have you guys concentrate on EV charging. And they still receive a benefit from us in terms of revenue share when they do that. So that's one piece of it.

我確實——我專注於零售業。我是一名零售商。所以我寧願專注於零售，而你們則專注於電動車充電。當他們這樣做時，他們仍然可以從我們那裡獲得收入分成的好處。這就是其中的一部分。

But another piece of it which we're seeing more of and I'll give you this particular example, we have a -- and I'm not going to name the name but it's a major, major health care company in the United States. And they previously owned their chargers across the country.

但我們看到的另一件事是，我會給你這個特殊的例子，我們有一個——我不會說出這個名字，但它是美國一家非常非常大的醫療保健公司。他們之前在全國各地都擁有過充電器。

And they basically realized that they did not want to own the responsibility of maintenance, uptime, all of those different things because, again, they're -- what they do is deliver health care. They don't worry about EV charging stations.

他們基本上意識到，他們不想承擔維護、正常運行時間以及所有這些不同事情的責任，因為他們所做的就是提供醫療保健。他們不擔心電動車充電站。

So we're actually in process of taking over all of their L2 charging stations coast to coast. And we think that's going to be a trend that we see going forward, where even customers that currently have EVSE in the ground are just simply not going to want to continue to do it themselves. They're going to want a provider to take it over for them.

所以我們實際上正在接管他們從東海岸到西海岸的所有 L2 充電站。我們認為這將成為我們未來看到的趨勢，即使目前已經擁有 EVSE 的客戶也根本不想繼續自己做。他們會希望有一個提供者來替他們接手。

But the thing I'll add to that, to Mike's comment is what's key is we already know from the utilization data of those chargers in health care locations that once we take them over, it's a profitable equation and it's revenue accretive for us.

但我要補充的是，對於麥克的評論，關鍵是我們已經從醫療保健場所這些充電器的使用數據中知道，一旦我們接管它們，這就是一個有利可圖的方程式，並且可以為我們增加收入。

So it's not like we're getting into a bad deal. We're getting into a good deal and we're getting the chargers for free. And that's what a flexible model does for you. It allows clients who've made 1 decision 3 years down the road to pivot to another decision in a seamless way.

所以我們並不是陷入了一筆糟糕的交易。我們正在進行一項優惠活動，我們可以免費獲得充電器。這就是靈活模型為您所做的事情。它允許在三年後做出一個決定的客戶以無縫的方式轉向另一個決定。

Great. And just the last one for me. You talked about preserving gross margin through continuous improvement activities. I wonder if you could just talk a little bit about what some of those recently have been or are planned.

偉大的。對我來說只是最後一件。您談到了透過持續改善活動來維持毛利率。我想知道您是否可以簡單談談其中一些最近已經或計劃進行的事情。

Yes. So it's getting over -- it's probably a year plus now that we've launched continuous improvement and cost reduction and cost avoidance throughout the company in a very intense way. We started it early, early in '23 very softly and then rolled it out across the globe into every business unit.

是的。所以這一切都已經過去了——現在我們已經在整個公司以非常強烈的方式啟動了持續改進、成本削減和成本避免，這可能已經過去一年多了。我們很早就開始了，23 年初，非常溫和，然後將其推廣到全球每個業務部門。

And now it is -- it's part of everybody's daily jobs. And we'll give you an example. We had one example where one of our individuals in the tech team that's not -- his daily job isn't to cut cost but he identified a few vendors that he resourced against another vendor to give us a better technology and then a better cost.

現在它已經成為每個人日常工作的一部分。我們會給你一個例子。我們有一個例子，我們技術團隊中的一個人不是- 他的日常工作不是削減成本，而是他確定了一些供應商，他為另一家供應商提供了資源，為我們提供更好的技術，然後提供更好的成本。

And after he did the comparative analysis and worked with purchasing, we net an annual savings of about $300,000 to $350,000 out of that. So those activity and those wins are now spread across the company. They also spread to where we still have several duplicate systems that are -- now have a firm sunset date that is all marked in 2024.

在他進行比較分析並與採購部門合作後，我們每年可節省約 30 萬至 35 萬美元。因此，這些活動和成果現在已遍布整個公司。它們也蔓延到了我們仍然有幾個重複系統的地方，這些系統現在有一個確定的日落日期，全部標記為 2024 年。

And once those sunset, then we save all the money that is allocated to maintaining those duplicate systems. One by one, we're sunsetting them and we've already had success in finance systems from the US to Europe, where we're aligning now. We've already done it on CMS systems where we're aligning now. Now we're doing it on networks.

一旦這些日落，我們就可以節省分配給維護這些重複系統的所有資金。我們正在一一地淘汰它們，我們已經在從美國到歐洲的金融體系中取得了成功，我們現在正在這些方面進行調整。我們已經在 CMS 系統上做到了這一點，現在我們正在調整系統。現在我們正在網路上進行。

We're aligning now. And then, also we're looking at -- and one of the key things, if we have underperforming business units, we're going ahead and closing down those underperforming business units. And we've done quite a few of those in different countries throughout the world already. And to say that, hey, it's not mature for us right now to invest additional resources in that.

我們現在正在協調。然後，我們也在考慮 - 關鍵的事情之一，如果我們有表現不佳的業務部門，我們將繼續關閉那些表現不佳的業務部門。我們已經在世界各地不同的國家做了很多這樣的事。話說回來，嘿，我們現在在這方面投入額外的資源還不成熟。

We'll take that money that we're investing there. We will go and move it into a much more higher GDP country and then move into that. So that's part of it. We have more of those to share with you as we get through the balance of the year but we've enacted some pretty significant savings on one.

我們將把我們在那裡投資的錢拿走。我們將把它轉移到一個 GDP 較高的國家，然後再轉移到那個國家。這就是其中的一部分。隨著今年的剩餘時間，我們還有更多的內容可以與您分享，但我們已經在其中一項上實現了一些相當可觀的節省。

We'll give you one example on one country we just moved out of; and our net save after moving out of after 1 year is $800,000 just by netting out and ceasing operations. Those activities are going to continue throughout the company. That is now the Bible to be a Blink employee and we're going to continue to enhance that as we move forward.

我們將為您提供一個關於我們剛剛搬出的國家的例子；一年後搬出後，僅透過淨額清算和停止運營，我們就可以淨節省 80 萬美元。這些活動將在整個公司繼續進行。現在，這已成為 Blink 員工的聖經，我們將在前進的過程中繼續強化這一點。

Thank you. That concludes our Q&A session. I'll now hand the conference back to Vitalie Stelea for closing remarks. Please go ahead.

謝謝。我們的問答環節到此結束。現在我將把會議交還給維塔利·斯特萊亞 (Vitalie Stelea) 致閉幕詞。請繼續。

We thank you all for joining us on the call and the webcast today and for your interest in Blink Charging. If there are any additional questions or requests to meet with management, please e-mail us at ir@blinkcharging.com and we look forward to engaging with you in the future.

我們感謝大家今天參加我們的電話會議和網路廣播，並感謝大家對眨眼充電的興趣。如果還有任何其他問題或要求與管理層會面，請發送電子郵件至 ir@blinkcharging.com，我們期待將來與您聯繫。

Thanks, everyone.

感謝大家。

Thank you. Everyone, this concludes today’s call. You may disconnect at this time and have a wonderful day. Thank you for your participation.

謝謝。各位，今天的電話會議到此結束。此時您可能會斷開連接並度過美好的一天。感謝您的參與。