Earnings release
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ChargePoint Reports Second Quarter Fiscal Year 2027 Financial Results 2026-09-02 Revenue grew 18% year-over-year to $116 million, above the guidance range Subscription revenue grew 10% year-over-year to $44 million GAAP gross margin was 36% and non-GAAP gross margin was 38% Non-GAAP adjusted EBITDA loss was $4.8 million, an improvement from a loss of $22.1 million year-over-year CAMPBELL, Calif.--(BUSINESS WIRE)-- ChargePoint Holdings, Inc. (NYSE:CHPT) (“ChargePoint” or the "Company"), a global leader in intelligent electri cation and e-mobility, today reported its nancial results for the second quarter of scal year 2027, which ended July 31, 2026. “The second quarter was an exceptional quarter for ChargePoint as we exceeded the high end of our guidance, delivered record non-GAAP gross margin, and managed our cash with extreme rigor through continued operational discipline,” said Rick Wilmer, President and Chief Executive O cer of ChargePoint. “In the quarter, we began early access shipments of Express Solo, continued expansion of our partnership with Eaton, and forti ed our leadership team in Europe with the appointment of John Sa rett as Executive Vice President and Managing Director to lead our growth strategy and market expansion across the continent. As we enter the second half of the year, we remain focused on driving pro table growth through innovation, operational excellence, and disciplined execution against our strategic plan.” Second Quarter Fiscal 2027 Financial Overview Revenue. Second quarter revenue was $116.1 million, up 18% from $98.6 million in the prior year’s same quarter. Networked charging systems revenue for the second quarter was $62.9 million, up 25% from $50.4 million in the prior year’s same quarter. Subscription revenue was $43.7 million, up 10% from $39.9 million in the prior year’s same quarter. Gross Margin. Second quarter GAAP gross margin was 36% as compared to 31% in the prior year's same quarter, and non-GAAP gross margin was 38% as compared to 33% in the prior year's same quarter. The current period GAAP and non-GAAP gross margins include a 4 percentage points bene t due to tari s refunds. Operating Expenses. Second quarter GAAP operating expenses were $76.4 million, down 15% from $89.7 1
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million in the prior year's same quarter. Non-GAAP operating expenses were $52.3 million, down 11% from $58.6 million in the prior year's same quarter. Net Income/Loss. Second quarter GAAP net loss was $35.6 million, down 46% from $66.2 million in the prior year's same quarter. Additionally, non-GAAP net loss was $9.2 million, down 72% from $33.0 million in the prior year's same quarter and non-GAAP adjusted EBITDA loss was $4.8 million, down 78% from $22.1 million in the prior year's same quarter. Liquidity. As of July 31, 2026, cash, cash equivalents and restricted cash on the balance sheet was $95.7 million. Shares Outstanding. As of July 31, 2026, ChargePoint had approximately 27 million shares of common stock outstanding. Business Highlights ChargePoint appointed automotive industry veteran John Sa rett as Executive Vice President and Managing Director for Europe, overseeing sales, customer relationships, partnerships, and market expansion across the continent. ChargePoint extended its long-standing partnership with Mercedes-Benz with a new agreement that provides Mercedes-Benz business customers with comprehensive charging solutions for eet operators in the UK and Germany. ChargePoint announced agreements with Optimus Energy Solutions, a leading U.S.-based charge point operator, and Onvo, a Pennsylvania-based travel plaza brand, that will collectively add hundreds of new charging ports in the eastern U.S. ChargePoint and Portland International Airport announced a new overhead fast charging deployment featuring retractable cable management that eliminates the traditional trade-o s between space, cost, and equipment durability, delivering a blueprint for airports worldwide. Third Quarter of Fiscal 2027 Guidance For the third scal quarter ending October 31, 2026, ChargePoint expects revenue of $105 million to $115 million. Conference Call Information ChargePoint will host a conference call to review the Company’s nancial results at 1:30 p.m. Paci c (4:30 p.m. Eastern time) today. A live webcast of the conference call will be available at https://events.q4inc.com/attendee/486534852. Participants can also access the conference call by dialing +1 (833) 461 5787 (North America) or +1 585 542 9983 (International) and entering Conference ID 486 534 852. A recording will be available after the conclusion of the webcast and archived for one year on ChargePoint’s investor relations website. A copy of the press release with the nancial results will be also available on ChargePoint’s investor relations website prior to the commencement of the 2
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webcast. About ChargePoint Holdings, Inc. ChargePoint has established itself as a global leader in intelligent electri cation and e-mobility since its inception in 2007, long before EVs became widely available. The company provides comprehensive solutions tailored to the entire EV ecosystem, from the grid to the dashboard of the vehicle. The company serves EV drivers, charging station owners, vehicle manufacturers, and similar types of stakeholders. With a commitment to accessibility and reliability, ChargePoint’s extensive portfolio of software, hardware, and services ensures a seamless charging experience for drivers across North America and Europe. ChargePoint empowers every driver in need of charging access, connecting them to almost 1.5 million public and private charging ports worldwide. ChargePoint has facilitated the powering of more than 25 billion electric miles, underscoring its dedication to reducing greenhouse gas emissions and electrifying the future of transportation. For further information, please visit the ChargePoint pressroom or the ChargePoint Investor Relations site. For media inquiries, contact the ChargePoint press o ce. Forward-Looking Statements This press release contains forward-looking statements that involve risks, uncertainties, and assumptions including statements regarding our projected revenue for the third quarter of scal year 2027. There are a signi cant number of factors that could cause actual results to di er materially from the statements made in this press release, including: macroeconomic trends, such as changes in or sustained in ation, interest rate volatility, increased tari s or other events beyond our control on the overall economy which may reduce demand for our products and services; geopolitical events and con icts; adverse impacts to our business and those of our customers and suppliers, including due to supply chain disruptions, component shortages, and associated logistics expense increases; our ability as an organization to successfully acquire, integrate or partner with other companies, products or technologies in a successful manner such as our partnership e orts with Eaton Corporation; our dependence on widespread acceptance and adoption of EVs, including any delays or modi cations to auto manufacturers' plans and strategies to transition to predominately manufacture EVs and any corresponding decreased demand for installation of charging stations; our current dependence on sales of charging stations for the majority of our revenues; overall demand for EV charging and the potential for reduced demand for EVs if governmental policies, rebates, tax credits and other nancial incentives are reduced, modi ed or eliminated or governmental mandates to increase the use of EVs or decrease the use of vehicles powered by fossil fuels, either directly or indirectly through mandated limits on carbon emissions, are reduced, modi ed or eliminated; our ability, and our reliance on our customers, to successfully implement, construct and manage state, federal and local charging infrastructure programs in accordance with the respective terms of such program in order to validly secure and obtain awarded funding and win additional grant opportunities; our reliance on contract manufacturers, including those located outside the United States, may result in supply chain interruptions, delays and expense increases which may adversely a ect our sales, revenue and gross margins; our ability to expand our operations and market share in Europe; the need to attract additional eet operators as customers, especially 3
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autonomous EV eets; potential adverse e ects on our revenue and gross margins due to delays and costs associated with new product introductions, such as our new AC and Express DC fast charging product architectures, inventory obsolescence, component shortages and related expense increases; the ability or success of our new AC and Express DC fast charging product architectures to result in an increased demand for charging products by commercial, residential and eet charging customers; adverse impact to our revenues and gross margins if customers increasingly claim clean energy credits and, as a result, they are no longer available to be claimed by us; the e ects of competition; risks related to our dependence on our intellectual property; and the risk that our technology could have undetected defects or errors. Additional risks and uncertainties that could a ect our nancial results are included under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Form 10-Q led with the Securities and Exchange Commission (the “SEC”) on June 8, 2026, which is available on our website at investors.chargepoint.com and on the SEC’s website at www.sec.gov. Additional information will also be set forth in other lings that we make with the SEC from time to time. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we do not assume any obligation to update the forward-looking statements provided to re ect events that occur or circumstances that exist after the date on which they were made, except as required by applicable law. Use of Non-GAAP Financial Measures ChargePoint has provided nancial information in this press release that has not been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”). ChargePoint uses these non-GAAP nancial measures internally in analyzing its nancial results. ChargePoint believes that the use of these non-GAAP nancial measures is useful to investors to evaluate ongoing operating results and trends and believes they provide meaningful supplemental information to investors regarding ChargePoint’s underlying operating performance because they exclude items ChargePoint believes are unrelated to, and may not be indicative of, its core operating results. The presentation of these non-GAAP nancial measures is not meant to be considered in isolation or as a substitute for comparable GAAP nancial measures and should be read only in conjunction with ChargePoint’s condensed consolidated nancial statements prepared in accordance with GAAP. A reconciliation of ChargePoint’s historical non-GAAP nancial measures to their most directly comparable GAAP measures has been provided in the nancial statement tables included in this press release, and investors are encouraged to review these reconciliations. Non-GAAP Gross Pro t (Gross Margin). ChargePoint de nes non-GAAP gross pro t as gross pro t excluding stock- based compensation expense, amortization expense of acquired intangible assets and restructuring costs for severances and employment-related termination costs, and facility and other contract termination costs. Non-GAAP gross margin is non-GAAP gross pro t as a percentage of revenue. Non-GAAP Cost of Revenue and Operating Expenses (includes Non-GAAP research and development, Non-GAAP 4
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sales and marketing and Non-GAAP general and administrative). ChargePoint de nes non-GAAP cost of revenue and operating expenses as cost of revenue and operating expenses excluding stock-based compensation expense, amortization expense of acquired intangible assets, restructuring costs for severances and employment-related termination costs, and facility and other contract termination costs, and non-cash charges related to tax liabilities, litigation settlements and other non-recurring transaction costs, including associated non-recurring legal expenses and professional service fees. Non-GAAP Net Loss. ChargePoint de nes non-GAAP net loss as net loss excluding stock-based compensation expense, amortization expense of acquired intangible assets, restructuring costs for severances and employment- related termination costs, and facility and other contract termination costs, and non-cash charges related to tax liabilities, litigation settlements and other non-recurring transaction costs, including associated non-recurring legal expenses and professional service fees. These amounts re ect the impact of any related tax e ects. Non-GAAP pre- tax net loss is non-GAAP net loss adjusted for provision for income taxes. Non-GAAP Adjusted EBITDA Loss. ChargePoint de nes non-GAAP adjusted EBITDA loss as net loss excluding stock- based compensation expense, amortization expense of acquired intangible assets, restructuring costs for severances and employment-related termination costs, and facility and other contract termination costs, non-cash charges related to tax liabilities, litigation settlements and other non-recurring transaction costs, including associated non-recurring legal expenses and professional service fees, and further adjusted for provision of income taxes, depreciation, interest income and expense, and other income and (expense), net. Investors are cautioned that there are a number of limitations associated with the use of non-GAAP nancial measures to analyze nancial results and trends. In particular, many of the adjustments to ChargePoint’s GAAP nancial measures re ect the exclusion of items that are recurring and will be re ected in its nancial results for the foreseeable future, such as stock-based compensation, which is an important part of ChargePoint’s employees’ compensation and impacts hiring, retention and performance. Furthermore, these non-GAAP nancial measures are not based on any standardized methodology prescribed by GAAP, and the components that ChargePoint excludes in its calculation of non-GAAP nancial measures may di er from the components that other companies exclude when they report their non-GAAP results. In the future, ChargePoint may also exclude other expenses it determines do not re ect the performance of ChargePoint’s operating results. CHPT-IR ChargePoint Holdings, Inc.PRELIMINARY CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(In thousands, except per share amounts; unaudited)Three Months EndedSix Months EndedJuly 31, July 31, 2026 2025 2026 2025 5
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Revenue Networked Charging Systems$ 62,917$ 50,421$ 116,224$ 102,480Subscriptions 43,698 39,896 84,473 77,916Other 9,460 8,273 17,197 15,834 Total revenue 116,07598,590217,894196,230 Cost of revenue Networked Charging Systems 49,495 46,492 98,449 95,130Subscriptions 18,065 15,534 35,985 30,900Other 6,213 5,836 11,536 11,486 Total cost of revenue 73,773 67,862145,970137,516 Gross pro t 42,302 30,728 71,924 58,714 Operating expenses Research and development 32,410 36,479 68,007 69,989Sales and marketing 23,459 25,033 47,053 51,225General and administrative 20,492 28,193 38,077 50,317 Total operating expenses 76,361 89,705153,137171,531 Loss from operations (34,059) (58,977) (81,213) (112,817)Interest income 499 1,132 835 2,296Interest expense (279) (6,849) (553) (13,285)Other income (expense), net (236) (323) 4,860 2,290 Net loss before income taxes(34,075) (65,017) (76,071) (121,516) Provision for income taxes 1,549 1,162 2,757 1,784 Net loss $ (35,624) $ (66,179) $ (78,828) $ (123,300) Net loss per share, basic and diluted$ (1.35) $ (2.85) $ (3.09) $ (5.32) Weighted average shares outstanding, basic and diluted26,322,31123,196,53425,490,24223,196,534 ChargePoint Holdings, Inc.PRELIMINARY CONDENSED CONSOLIDATED BALANCE SHEETS(In thousands, unaudited)July 31, 2026January 31, 2026Assets Current assets:Cash and cash equivalents $ 95,330$ 141,564Restricted cash 400 400Accounts receivable, net 86,695 86,132Inventories 179,468 214,903Prepaid expenses and other current assets24,457 19,028 Total current assets 386,350 462,027Property and equipment, net 20,142 24,665Intangible assets, net 52,742 60,534Operating lease right-of-use assets 8,039 11,450Goodwill 223,153 227,938Other assets 5,244 5,631 Total assets $ 695,670$ 792,245 Liabilities and Stockholders' Equity Current liabilities:Accounts payable $ 80,351$ 90,094Accrued and other current liabilities 139,810 141,723Deferred revenue 122,245 119,381Debt, current 17,476 32,371 Total current liabilities 359,882 383,569Deferred revenue, noncurrent 126,310 131,200Debt, noncurrent 219,462 228,480Operating lease liabilities 8,376 10,677Deferred tax liabilities 11,671 13,038Other long-term liabilities 6,061 3,982 Total liabilities 731,762 770,946Stockholders' equity (de cit):Common stock 2 2Additional paid-in capital 2,157,728 2,128,764Accumulated other comprehensive income(3,359) 4,168Accumulated de cit (2,190,463) (2,111,635) Total stockholders' equity (de cit) (36,092) 21,299 Total liabilities and stockholders' equity (de cit)$ 695,670$ 792,245 6
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ChargePoint Holdings, Inc.PRELIMINARY CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(In thousands, unaudited)Six Months EndedJuly 31, 2026 2025 Cash ows from operating activities Net loss $ (78,828) $ (123,300)Adjustments to reconcile net loss to net cash used in operating activities:Depreciation and amortization 12,440 13,854Non-cash operating lease cost 1,650 1,784Stock-based compensation 21,561 36,079Amortization of deferred contract acquisition costs1,558 1,687Paid-in-kind non-cash interest expense 387 9,397Foreign currency transaction (gain) loss 784 (3,922)Reserves and other (9,195) 4,281Changes in operating assets and liabilities:Accounts receivable, net (1,784) 2,636Inventories 40,690 3,338Prepaid expenses and other assets (6,754) 3,374Accounts payable, operating lease liabilities, and accrued and other liabilities(22,329) 3,295Deferred revenue (971) 8,377 Net cash used in operating activities (40,791) (39,120) Cash ows from investing activities Purchases of property and equipment (2,105) (2,358) Net cash used in investing activities (2,105) (2,358) Cash ows from nancing activities Repayment of borrowings (9,625) —Proceeds from the issuance of common stock under employee equity plans, net of tax withholding365 1,251Change in driver funds and amounts due to customers6,794 6,838 Net cash (used in) provided by nancing activities(2,466) 8,089 E ect of exchange rate changes on cash, cash equivalents, and restricted cash(872) 2,941Net decrease in cash, cash equivalents, and restricted cash(46,234) (30,448)Cash, cash equivalents, and restricted cash at beginning of period141,964 224,971 Cash, cash equivalents, and restricted cash at end of period$ 95,730$ 194,523 ChargePoint Holdings, Inc.RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES(In thousands, unaudited) Three Months Ended July 31, 2026 Three Months Ended July 31, 2025 Six Months Ended July 31, 2026 Six Months Ended July 31, 2025Cost of Revenue:GAAP cost of revenue (as a percentage ofrevenue) $73,77364%$67,86269%$145,97067%$137,51670% Stock-based compensation expense(871) (1,251) (1,862) (2,474)Amortization of intangible assets(796) (796) (1,599) (1,562) Restructuring costs (1)(624) — (1,354) — Non-GAAP cost of revenue (as apercentage of revenue)$71,48262%$65,81567%$141,15565%$133,48068% Gross Pro t:GAAP gross pro t (gross margin as apercentage of revenue)$42,30236%$30,72831%$71,92433%$58,71430% Stock-based compensation expense871 1,251 1,862 2,474Amortization of intangible assets796 796 1,599 1,562 Restructuring costs (1)624 — 1,354 — Non-GAAP gross pro t (gross margin as apercentage of revenue)$44,59338%$32,77533%$76,73935%$62,75032% Operating Expenses:GAAP research and development (as apercentage of revenue)$32,41028%$36,47937%$68,00731%$69,98936% Stock-based compensation expense(5,027) (9,174) (10,459) (17,788) Restructuring costs (1)(2,210) — (6,332) — Non-GAAP research and development (asa percentage of revenue)$25,17322%$27,30528%$51,21624%$52,20127% 7
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GAAP sales and marketing (as apercentage of revenue)$23,45920%$25,03325%$47,05322%$51,22526% Stock-based compensation expense(1,770) (2,876) (3,652) (5,955)Amortization of intangible assets(2,385) (2,382) (4,795) (4,657) Restructuring costs (1)(1,509) — (3,190) — Non-GAAP sales and marketing (as apercentage of revenue)$17,79515%$19,77520%$35,41616%$40,61321% GAAP general and administrative (as apercentage of revenue)$20,49218%$28,19329%$38,07717%$50,31726% Stock-based compensation expense(3,297) (4,915) (5,587) (9,862)Restructuring costs (1)(2,057) — (3,883) — Other adjustments (2)(5,835) (11,761) (8,526) (18,020) Non-GAAP general and administrative (asa percentage of revenue)$9,3038%$11,51712%$20,0819%$22,43511% GAAP Operating Expenses (as apercentage of revenue)$76,36166%$89,70591%$153,13770%$171,53187% Stock-based compensation expense(10,094) (16,965) (19,698) (33,605)Amortization of intangible assets(2,385) (2,382) (4,795) (4,657)Restructuring costs (1)(5,776) — (13,405) — Other adjustments (2)(5,835) (11,761) (8,526) (18,020) Non-GAAP Operating Expenses (as apercentage of revenue)$52,27145%$58,59759%$106,71349%$115,24959% Net Loss:GAAP net loss (as a percentage ofrevenue) $(35,624) (31)%$(66,179) (67)%$(78,828) (36)%$(123,300) (63)% Stock-based compensation expense10,965 18,216 21,560 36,079Amortization of intangible assets3,181 3,178 6,394 6,219Restructuring costs (1)6,400 — 14,759 — Other adjustments (2)5,835 11,761 8,526 18,020 Non-GAAP net loss (as a percentage ofrevenue) $(9,243) (8)%$(33,024) (33)%$(27,589) (13)%$(62,982) (32)% Provision for income taxes1,549 1,162 2,757 1,784 Non-GAAP pre-tax net loss (as apercentage of revenue)$(7,694) (7)%$(31,862) (32)%$(24,832) (11)%$(61,198) (31)% Depreciation 2,926 3,748 6,045 7,635Interest income (499) (1,132) (835) (2,296)Interest expense 279 6,849 553 13,285 Other expense (income), net236 323 (4,860) (2,290) Non-GAAP Adjusted EBITDA Loss (as apercentage of revenue)$(4,752) (4)%$(22,074) (22)%$(23,929) (11)%$(44,864) (23)% (1)Consists of restructuring costs for severances and employment-related termination costs, and facility and other contract termination costs.(2)Consists of non-cash charges related to tax liabilities, litigation settlements and other non-recurring transaction costs, including associated non-recurring legal expenses and professional service fees. Investor Relations Audrey Dion Head of Investor Relations investors@chargepoint.com Press AJ Gosselin Director, Corporate Communications AJ.Gosselin@chargepoint.com media@chargepoint.com Source: ChargePoint Holdings, Inc. 8