LEASES

12 Months Ended

Dec. 31, 2024

15. LEASES

Total operating lease expenses for the year ended December 31, 2024, 2023, and 2022, were $2,610, $1,803, and $789, respectively, and are recorded in other operating expenses on the consolidated statements of operations. Operating lease expenses consist of rent expense, common area maintenance adjustments, variable lease costs, and other expenses.

As of December 31, 2024, the Company had $132 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 consolidated balance sheet as of December 31, 2024. The duration of the leases is three years and the Company is expected to pay approximately $1,020 throughout the term. As of December 31, 2024, the Company did not have additional operating and financing leases that have not yet commenced.

During the years ended December 31, 2024, 2023, and 2022 the Company recorded $13 and $37, and $38 of interest expense related to finance leases, respectively, which were recorded within interest expense on the consolidated statements of operations. During the years ended December 31, 2024, 2023, and 2022 the Company recorded amortization expense of $618, $1,226, and $659 related to finance leases, respectively.

Supplemental cash flows information related to leases was as follows:

	2024			2023			2022
	For The Years Ended
	December 31,
	2024			2023			2022
Cash paid for amounts included in the measurement of lease liabilities:

Operating cash flows from operating leases	$	3,222		$	3,672		$	825
Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases	$	3,222		$	3,672		$	825
Financing cash flows from finance leases	$	596		$	2,837		$	217
Cash paid for amounts included in the measurement of lease liabilities: Financing cash flows from finance leases	$	596		$	2,837		$	217

Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	3,205		$	7,401		$	1,787
Right-of-use assets obtained in exchange for lease obligations: Operating leases	$	3,205		$	7,401		$	1,787
Finance leases	$	53		$	2,798		$	931
Right-of-use assets obtained in exchange for lease obligations: Finance leases	$	53		$	2,798		$	931

Weighted Average Remaining Lease Term
Operating leases		2.63			2.74			3.66
Finance leases		0.30			1.71			2.50

Weighted Average Discount Rate
Operating leases		7.4	%		7.5	%		4.9	%
Finance leases		6.2	%		6.4	%		6.2	%

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

For the Years Ending December 31,	Operating Lease			Finance Lease
2025	$	4,428		$	41
2026		2,683			41
2027		1,682			37
2028		1,065			27
2029		1,374			27
Thereafter		1,397			-
Total future minimum lease payments		12,629			173
Less: imputed interest		(2,251	)		(42	)
Total	$	10,378		$	131

BLINK CHARGING CO.

Notes to Consolidated Financial Statements

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