Welcome to our dedicated page for Chargepoint Holdings news (Ticker: CHPT), a resource for investors and traders seeking the latest updates and insights on Chargepoint Holdings stock.
ChargePoint Holdings, Inc. (symbol: CHPT) is a pioneering force in the energy and transportation industries, operating the world's largest electric vehicle (EV) charging network. Founded in 2007, the company is dedicated to enabling businesses and drivers to seamlessly transition to electric vehicles through its extensive range of charging solutions and robust network infrastructure.
Core Business and Products
ChargePoint designs, develops, and markets networked EV charging systems and cloud-based services that simplify the EV charging experience. Its hardware products cater to various applications, including home, commercial, and fast-charging setups. The company's software solutions allow consumers to locate, reserve, and authenticate EV charging, ensuring a smooth and efficient process.
Recent Achievements
ChargePoint has made significant strides in expanding its network, currently managing over 274,000 active charging ports across North America and Europe. The company continues to innovate and grow its product portfolio to meet the increasing demand for EV charging solutions.
Strategic Partnerships
In a notable recent development, ChargePoint announced a collaboration with AcBel Polytech Inc., a leading power supply manufacturer. This partnership aims to leverage AcBel's expertise in power design and Kinpo Group's electronic manufacturing capabilities to enhance ChargePoint's charging solutions. The collaboration is expected to expedite the development and deployment of advanced, reliable EV charging services, further solidifying ChargePoint's market position.
Financial Condition
ChargePoint primarily derives its revenue from the United States. The company's financial health is bolstered by its extensive and ever-expanding network of charging stations, coupled with strategic partnerships that enhance its product offerings and operational efficiency.
Mission and Vision
ChargePoint's mission is to get everyone behind the wheel of an electric vehicle and make the charging process effortless, regardless of the car model. The company's vision includes creating a new fueling network that moves people and goods on electricity, contributing to a sustainable future.
For more information, visit ChargePoint's official website.
ChargePoint (NYSE:CHPT) has received a notice of non-compliance from the NYSE on February 19, 2025, as its average closing stock price fell below $1.00 over a consecutive 30-day trading period. This notice represents a deficiency alert, not a delisting action, and does not immediately impact the company's listing or trading status.
The company must notify the NYSE by March 5, 2025, of its intention to cure the price deficiency. To regain compliance, CHPT needs to achieve a closing price of at least $1.00 and maintain an average closing price of $1.00 over a 30-day trading period within six months of receiving the notice. ChargePoint is considering various options, including a potential reverse stock split subject to stockholder approval at its next annual meeting, to address this situation.
ChargePoint (NYSE:CHPT), a leading provider of networked EV charging solutions, has scheduled the release of its fourth quarter and fiscal year 2025 financial results on March 4, 2025. The results will cover the period ending January 31, 2025.
The company will host a conference call to discuss the results at 1:30 p.m. Pacific time (4:30 p.m. Eastern time). Investors can access the live webcast through ChargePoint's investor relations website, or join via telephone at (888) 220-6125 (North America toll-free) or +1 (240) 789-2741 (international). The webcast recording will be archived for one year, and the financial results press release will be available on the investor relations website before the call.
ChargePoint (NYSE: CHPT) has announced a strategic agreement with AAA to become their preferred supplier of EV charging solutions. The partnership will provide preferred pricing on ChargePoint chargers and services to more than 12,000 service providers representing 27 AAA clubs across the US and CAA clubs in Canada.
The agreement targets towing service providers, automotive repair companies, and similar small businesses requiring EV charging capabilities. The offering includes support packages for existing ChargePoint charging stations owned by clubs and service providers, aiming to expand reliable and affordable EV charging infrastructure.
ChargePoint (NYSE: CHPT) announced two innovative solutions to combat EV charger vandalism: a cut-resistant charging cable and ChargePoint Protect, an alarm system. The cut-resistant cable, designed to be harder to cut while maintaining flexibility, will be available for all commercial and fleet charging stations, with licensing options for other manufacturers by mid-2025.
ChargePoint Protect, launching this month, is a software-based alarm system that integrates existing charger components to detect tampering in real-time. The system sends SMS or email notifications when triggered and is available at no additional cost through a cloud-based upgrade for select charging stations.
These solutions aim to reduce station repair costs and improve charging reliability for EV drivers. ChargePoint plans to license its cut-resistant cable technology to other manufacturers as part of an industry-wide effort to combat vandalism.
ChargePoint (NYSE: CHPT) and General Motors (GM) have announced a collaboration to install hundreds of ultra-fast EV charging ports across the United States by the end of 2025. The initiative features ChargePoint's Omni Port system, which enables both CCS and NACS charging without adapters, and the Express Plus platform capable of charging speeds up to 500kW.
The collaboration includes an incentive program to facilitate third-party charge point operators (CPOs) in owning and operating EV charging infrastructure. The stations will be branded as GM Energy and aim to improve charging accessibility while providing faster charging experiences for EV drivers.
ChargePoint (NYSE: CHPT) and the Colorado Energy Office have completed six EV fast charging corridors across Colorado, installing 33 DC fast charging sites with over 80 charging ports. The $12 million project, funded by $10 million in state funding and $2 million from private and local government partners, has doubled the state's highway fast charging coverage from 40% to nearly 80% of corridors within 30 miles of a fast charger.
The charging network spans major highways including Highway 40, I-70, Highway 50, and Highway 550. Colorado currently leads the nation in market share for new electric and plug-in hybrid vehicles, positioning the infrastructure for immediate utilization. The strategic locations include convenience stores and local visitor centers to accommodate drivers during charging sessions.
ChargePoint (NYSE:CHPT) reported Q3 FY2025 financial results with revenue of $100 million, down 10% year-over-year. The company achieved a GAAP gross margin of 23% and non-GAAP gross margin of 26%. Subscription revenue grew 19% to $36.4 million, while networked charging systems revenue declined 29% to $52.7 million.
The company significantly reduced its GAAP net loss by 51% to $77.6 million and non-GAAP pre-tax net loss by 62% to $40.7 million. Operating expenses were cut by 30% year-over-year. ChargePoint maintained a strong liquidity position with $219.8 million in cash and an undrawn $150 million credit facility. The company projects Q4 FY2025 revenue between $95-105 million.
ChargePoint (NYSE:CHPT), a leading EV charging solutions provider, has scheduled its third quarter fiscal year 2025 financial results announcement for December 4, 2024. The company will host a conference call at 1:30 p.m. Pacific time to discuss the results for the quarter ended October 31, 2024. Investors can access the webcast through ChargePoint's investor relations website, or join via phone using the provided dial-in numbers. A replay will be available and archived for one year after the webcast.
ChargePoint (NYSE: CHPT) has launched the Essential cloud plan, a new offering that makes EV charging more accessible to small businesses and multifamily housing. The plan covers software fees through driver payments, with surplus revenue returned to station owners monthly. Compatible with the $699 CPF50 charger, it eliminates the need for traditional subscriptions while providing enterprise-level service. The solution is ideal for restricted public charging scenarios like condominiums, hotels, and workplaces, featuring power sharing capabilities to prevent electrical overload and allowing multiple users to share a single charger while paying individually.
ChargePoint (NYSE: CHPT) has introduced a low-cost Level 2 charging solution priced at $699 to accelerate fleet electrification. The CPF50 charger aims to lower the barrier for small businesses and large fleets looking to electrify their vehicles while providing access to advanced fleet management software. This solution offers:
- Real-time visibility of vehicle readiness, power usage, and station status
- Energy management tools for fuel savings
- Station access control
- Power sharing via cloud to reduce costs
- Compatibility with J1772 or NACS connectors
ChargePoint's offering ranges from the affordable CPF50 to Megawatt Charging Solutions, catering to fleets of all sizes. The company emphasizes that its fleet software is key to optimizing operations, whether for 3 or 3,000 vehicles.
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