ChargePoint Holdings, Inc.

What they do

ChargePoint designs, develops and markets networked EV charging systems connected through its cloud-based ChargePoint Platform. The platform lets site owners and charge point operators manage chargers, and lets drivers locate, reserve, authenticate and pay for charging sessions. It sells Level 2 AC and Level 3 DC fast charging stations plus software, services and extended parts-and-labor warranties (Assure), and also bundles charger, platform and warranty into a multi-year subscription (CPaaS). It targets commercial, fleet and residential customers and reports over 385,000 active charging ports.

Revenue drivers

• Networked charging systems — Hardware sales of Level 2 AC and Level 3 DC fast charging stations; second quarter fiscal 2027 revenue was $62.9 million, up 25% year over year and the largest line.
• Subscription revenue — Recurring fees for the ChargePoint Platform, Assure warranties and CPaaS, generally paid upfront and recognized ratably; second quarter fiscal 2027 subscription revenue was $43.7 million, up 10% year over year.
• Customer mix — Sells through a third-party channel partner network of distributors and resellers and to charge point operators, e-Mobility Service Providers and auto OEMs such as General Motors, Mercedes-Benz and Toyota.

Recent performance

For the quarter ended July 31, 2026, revenue was $116.1 million, up 18% from $98.6 million a year earlier, above the company's guidance range. Networked charging systems revenue rose 25% to $62.9 million and subscription revenue rose 10% to $43.7 million. GAAP gross margin was 36% versus 31% a year earlier, including a 4 percentage point benefit from tariff refunds; non-GAAP gross margin was 38%. GAAP net loss was $35.6 million, down 46%, and non-GAAP adjusted EBITDA loss was $4.8 million versus a $22.1 million loss a year earlier. Cash, cash equivalents and restricted cash were $95.7 million at July 31, 2026, against an accumulated deficit of $2,190.5 million.

Strategy

Management is focused on driving profitable growth through innovation, operational discipline and execution against its strategic plan, following the March 2026 reorganization of operations. Recent actions include early access shipments of Express Solo, continued expansion of the Eaton partnership, and naming John Saffrett as Executive Vice President and Managing Director for Europe to lead growth and market expansion. ChargePoint extended its partnership with Mercedes-Benz to serve fleet operators in the UK and Germany and announced agreements with Optimus Energy Solutions and Onvo expected to add hundreds of charging ports in the eastern U.S. Liquidity is supported by cash, customer sales, debt financing and sales of common stock under the 2025 ATM Facility.

Risks

• EV adoption dependence — Revenue growth is tied to passenger and commercial EV sales, and the North American market has seen quarterly declines in new EV sales since the $7,500 federal tax credit ended in September 2025.
• History of losses and cash burn — ChargePoint has incurred net operating losses and negative operating cash flow every year since its 2007 inception, with a $2,190.5 million accumulated deficit as of July 31, 2026.
• Intense competition — The company faces intense competition and expects significant future competition as the EV charging market develops.
• Channel partner and supply chain reliance — A substantial amount of revenue comes through third-party distributors and resellers, and supply chain disruptions, component shortages, increased tariffs or manufacturing delays could harm results.

Outlook

For the third fiscal quarter ending October 31, 2026, ChargePoint guided revenue to $105 million to $115 million. Management said it remains focused on profitable growth through innovation, operational excellence and disciplined execution in the second half of the year. The company noted that consolidated results depend on EV adoption rates and on auto manufacturers' EV manufacturing plans, which several manufacturers have delayed or modified.