LEASES

3 Months Ended

Mar. 31, 2024

6. LEASES

OPERATING LEASES

Total operating lease expenses for the three months ended March 31, 2024 and 2023 were $788 and $493, respectively, and were recorded in other operating expenses on the condensed consolidated statements of operations. Operating lease expenses consist of rent expense, common area maintenance adjustments and other expenses.

As of March 31, 2024, the Company did not have additional operating and financing leases that have not yet commenced. As of March 31, 2024, the Company had $177 of right-of-use assets that were classified as financing leases for vehicles associated with the operations of Blink Mobility and are included as a component of property and equipment on the condensed consolidated balance sheet as of March 31, 2024.

During the three months ended March 31, 2024 and 2023, the Company recorded $10 and $10, respectively, of interest expense related to finance leases, which were recorded within interest expense on the condensed consolidated statements of operations. During the three months ended March 31, 2024 and 2023, the Company recorded amortization expense of $48 and $169, respectively, related to finance leases.

Supplemental cash flows information related to leases was as follows:

	2024			2023
	For The Three Months Ended
	March 31,
	2024			2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	339		$	346
Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases	$	339		$	346
Financing cash flows from finance leases	$	169		$	92
Cash paid for amounts included in the measurement of lease liabilities: Financing cash flows from finance leases	$	169		$	92

Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	375		$	1,209
Right-of-use assets obtained in exchange for lease obligations: Operating leases	$	375		$	1,209
Finance leases	$	53		$	-
Right-of-use assets obtained in exchange for lease obligations: Finance leases	$	53		$	-

Weighted Average Remaining Lease Term
Operating leases		2.72			3.45
Financing leases		2.27			2.00

Weighted Average Discount Rate
Operating leases		7.3	%		5.5	%
Finance leases		6.3	%		6.2	%

Future minimum payments under non-cancellable leases as of March 31, 2024 were as follows:

For the Years Ending December 31,	Operating Lease			Finance Lease
2024	$	5,091		$	497
2025		3,249			41
2026		1,779			41
2027		1,160			35
2028		659			18
Thereafter		1,207			-
Total future minimum lease payments		13,145			632
Less: imputed interest		(2,637	)		(73	)
Total	$	10,508		$	559

BLINK CHARGING CO.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(in thousands, except for share and per share amounts)