ChargePoint Slides After Setting Weaker-Than-Anticipated Q1 Guidance

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ChargePoint Slides After Setting Weaker-Than-Anticipated Q1 Guidance

Seeking Alpha03-06

ChargePoint Holdings (NYSE:CHPT) fell 7% in extended trading after a tough quarter that saw revenue growth step back from a year ago.The company reported revenue fell 24% year-over-year to $115.8M. ...

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Ne","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"CHPT":"ChargePoint Holdings Inc."},"translate_title":"设定弱于预期的Q1指引后ChargePoint下滑","themeId":"c0d77e622a6742cf8335299f8317b4b4","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CHPT":1.1},"content_text":"ChargePoint Holdings (NYSE:CHPT) fell 7% in extended trading after a tough quarter that saw revenue growth step back from a year ago.The company reported revenue fell 24% year-over-year to $115.8M. Networked charging systems revenue for the quarter was down 39% Y/Y to $74.0M, while subscription revenue increased 30% Y/Y to $25.7M.Non-GAAP gross margin was 22% in the quarter vs. 23% a year ago.ChargePoint (CHPT) recorded a non-GAAP adjusted EBITDA loss of $45.3M vs. a loss of $42.1M a year ago. EPS came in at $0.23 vs. $0.23 a year ago.On the balance sheet, the company disclosed a cash position of $357.8M at the end of the quarter. CHPT's $150M revolving credit facility remained undrawn on and ChargePoint (CHPT) had no debt maturities on the books until 2028.CEO update: \"In the fourth quarter, ChargePoint (CHPT) continued to focus on operational execution, delivering sequential revenue growth, normalization in gross margin, reduction of operating expenses, and a significant decrease in cash usage. Quarterly milestones included the opening of the Mercedes-Benz HPC NA charging network and receiving FedRAMP authority to operate, which enables ChargePoint to bid for United States government contracts.\"Looking ahead, CHPT sees Q1 revenue of $100M to $110M vs. $127M consensus. At the midpoint, the guidance represents a drop of 19% in revenue from a year ago. 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