-- Revenue grew 6% year-over-year to $106 million, above top end of the
guidance range
-- Subscription revenue grew 15% year-over-year to $42 million
-- GAAP gross margin of 31% and non-GAAP gross margin remains at a record
high of 33%
-- Announces reduction of debt by $172 million, more than 50 percent, post
quarter end
CAMPBELL, Calif.--(BUSINESS WIRE)--December 04, 2025--
ChargePoint Holdings, Inc. $(CHPT)$ ("ChargePoint"), a global leader in electric vehicle (EV) charging solutions, today reported results for its third quarter of fiscal year 2026 ended October 31, 2025.
"ChargePoint's third quarter results mark a return to growth, with revenue exceeding expectations," said Rick Wilmer, CEO at ChargePoint. "In November, we further strengthened our financial foundation by consummating a successful debt exchange and our ongoing innovation and strategic partnerships, especially with Eaton, position us to accelerate growth and lead the future of e-mobility. We remain committed to delivering value for our customers and shareholders as we execute on our three-year plan and advance the industry."
Third Quarter Fiscal 2026 Financial Overview
-- Revenue. Third quarter revenue was $105.7 million, up 6% from $99.6
million in the prior year's same quarter. Networked charging systems
revenue for the third quarter was $56.4 million, up 7% from $52.7 million
in the prior year's same quarter. Subscription revenue was $42.0 million,
up 15% from $36.4 million in the prior year's same quarter.
-- Gross Margin. Third quarter GAAP gross margin was 31% as compared to 23%
in the prior year's same quarter, and non-GAAP gross margin was 33% as
compared to 26% in the prior year's same quarter primarily due to
subscription revenue growth as a percentage of total revenue and
improvement in subscription margins.
-- Operating Expenses. Third quarter GAAP operating expenses were $76.8
million, down 16% from $91.0 million in the prior year's same quarter.
Non-GAAP operating expenses were $57.5 million, down 2% from $58.6
million in the prior year's same quarter.
-- Net Income/Loss. Third quarter GAAP net loss was $52.5 million, down 32%
from $77.6 million in the prior year's same quarter. Additionally,
non-GAAP pre-tax net loss was $30.2 million, down 26% from $40.7 million
in the prior year's same quarter and non-GAAP adjusted EBITDA loss was
$19.4 million, down 32% from $28.6 million in the prior year's same
quarter.
-- Liquidity. As of October 31, 2025, cash and cash equivalents on the
balance sheet was $180.9 million.
-- Shares Outstanding. As of October 31, 2025, the Company had approximately
24 million shares of common stock outstanding.
For reconciliation of GAAP and non-GAAP results, please see the tables below.
Business Highlights
-- In November 2025, ChargePoint strengthened its balance sheet through a
significant debt reduction, resulting in a near term reduction of its
total outstanding debt by $172 million, or more than 50%.
-- ChargePoint released the new ChargePoint Platform, its next-generation
flexible software solution designed to provide real-time insights,
monitor station performance, adjust pricing, and respond to customer
needs.
-- ChargePoint was awarded a Sourcewell cooperative purchasing contract to
provide EV charging solutions to public agencies in the U.S. and Canada,
representing ChargePoint's third consecutive agreement with Sourcewell,
dating back to 2017.
Fourth Quarter of Fiscal 2026 Guidance
For the fourth fiscal quarter ending January 31, 2026, ChargePoint expects revenue of $100 million to $110 million.
Conference Call Information
ChargePoint will host a webcast today at 1:30 p.m. Pacific / 4:30 p.m. Eastern to review its third quarter fiscal year 2026 financial results.
A live webcast of the conference call will be available at https://events.q4inc.com/attendee/848693269. Participants can also access the conference call by dialing +1 (800) 715-9871 (North America toll free) or + 1 (646) 307-1963 (international) and Conference ID 1744120. A replay will be available after the conclusion of the webcast and archived for one year. A copy of this press release with the financial results and supplemental financial information will be also available on ChargePoint's investor relations website (investors.chargepoint.com).
About ChargePoint
ChargePoint has established itself as the leader in electric vehicle (EV) charging innovation 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 over 1.3 million public and private charging ports worldwide. ChargePoint has facilitated the powering of more than 16 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 office.
Forward-Looking Statements
This press release contains forward-looking statements that involve risks, uncertainties, and assumptions including statements regarding our projected revenue for the fourth quarter of fiscal year 2026. There are a significant number of factors that could cause actual results to differ materially from the statements made in this press release, including: macroeconomic trends including changes in or sustained inflation, interest rate volatility, increased tariffs or other events beyond our control on the overall economy which may reduce demand for our products and services; geopolitical events and conflicts; 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 limited operating history as a public company; 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 efforts with Eaton Corporation; our dependence on widespread acceptance and adoption of EVs, including any delays or modifications 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 financial incentives are reduced, modified 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, modified 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 affect our sales, revenue and gross margins; our ability to expand our operations and market share in Europe; the need to attract additional fleet operators as customers; potential adverse effects 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 architecture featuring bidirectional charging, inventory obsolescence, component shortages and related expense increases; the ability or success of our new AC and Express DC fast charging product architecture to result in an increased demand for charging products by commercial, residential and fleet 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 effects 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 affect our financial 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 filed with the Securities and Exchange Commission (the "SEC") on September 8, 2025, 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 filings 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 reflect 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
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