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DEFERRED REVENUE
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
DEFERRED REVENUE

9. DEFERRED REVENUE

 

The Company is the recipient of various private and governmental grants, rebates and marketing incentives. Reimbursements of periodic expenses are recognized as income when the related expense is incurred. Private and government grants and rebates related to EV charging stations and their installation are deferred and amortized in a manner consistent with the recognition of the related depreciation expense of the related asset over their useful lives.

 

Deferred revenue consisted of the following:

 

   2024   2023 
   December 31, 
   2024   2023 
Grant and rebate  $3,870   $346 
Prepaid network, charging and maintenance fees   24,092    25,729 
Total deferred revenue   27,962    26,075 
Deferred revenue, non-current portion   (10,603)   (12,462)
Current portion of deferred revenue  $17,359   $13,613 

 

It is anticipated that deferred revenue as of December 31, 2024 will be recognized as follows:

 

 

     
For the Year Ending    
December 31,  Total 
2025  $17,359 
2026   4,076 
2027   3,297 
2028   1,940 
2029   980 
Thereafter   310 
Total  $27,962 

 

During the year ended December 31, 2024, the Company recognized $10,595 of revenues related to network fees and warranty contracts that were included in deferred revenues as of December 31, 2023. During the year ended December 31, 2023, the Company recognized $2,794 of revenues related to network fees and warranty contracts that were included in deferred revenues as of December 31, 2022. During the year ended December 31, 2022, the Company recognized $1,136 of revenues related to network fees and warranty contracts that were included in deferred revenues as of December 31, 2021.

 

 

BLINK CHARGING CO.

Notes to Consolidated Financial Statements

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