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ChargePoint Reports First Quarter Fiscal Year 2025 Financial Results

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ChargePoint Holdings (NYSE: CHPT) reported its Q1 fiscal 2025 financial results. Revenue reached $107 million, a decrease of 18% from $130 million in the same quarter last year. Networked charging systems revenue dropped by 34% to $65.4 million, while subscription revenue increased by 27% to $33.4 million.

The GAAP gross margin was 22%, and the non-GAAP gross margin was 24%. GAAP net loss improved by 10% to $71.8 million, and non-GAAP adjusted EBITDA loss improved by 25% to $36.5 million.

Operating expenses also saw improvements, with GAAP operating expenses reduced by 18% to $90.7 million and non-GAAP operating expenses reduced by 22% to $66.4 million. The company ended the quarter with $292.3 million in cash, cash equivalents, and restricted cash, and has no debt maturities until 2028.

ChargePoint provided Q2 fiscal 2025 revenue guidance of $108 million to $118 million and reiterated its goal to achieve positive non-GAAP adjusted EBITDA by the end of FY2025.

Positive
  • Subscription revenue increased by 27% year over year to $33.4 million.
  • GAAP net loss improved by 10% to $71.8 million.
  • Non-GAAP adjusted EBITDA loss improved by 25% to $36.5 million.
  • Operating expenses reduced significantly: GAAP by 18% and non-GAAP by 22%.
  • ChargePoint achieved revenue above the midpoint of guidance range.
  • Company ended the quarter with $292.3 million in cash, cash equivalents, and restricted cash.
  • No debt maturities until 2028.
  • Guidance for Q2 fiscal 2025 revenue is between $108 million and $118 million.
  • Reaffirmed goal to achieve positive non-GAAP adjusted EBITDA by the end of FY2025.
Negative
  • Total revenue decreased by 18% year over year to $107 million.
  • Networked charging systems revenue dropped by 34% to $65.4 million.
  • GAAP gross margin decreased slightly to 22% from 23% last year.
  • Non-GAAP gross margin decreased to 24% from 25% in the prior year's same quarter.

Insights

ChargePoint's first quarter fiscal 2025 report showcases a mixed performance. Revenue has decreased by 18% year over year, totaling $107 million compared to $130 million in the prior year's same quarter. This decline is significant, particularly in the networked charging systems revenue, which saw a 34% drop to $65.4 million. However, the noticeable increase in subscription revenue by 27%, reaching $33.4 million, indicates a shift towards more stable, recurring income, which can be beneficial in the long term.

The gross margin remains fairly stable, with a slight decrease to 22% (GAAP) and 24% (non-GAAP). The company's improvement in managing operating expenses, which decreased by 18% on a GAAP basis, is a positive sign. Net loss reduction by 10% and 14% for GAAP and non-GAAP respectively, alongside improved non-GAAP Adjusted EBITDA loss reduction by 25%, suggests better operational efficiency.

Lastly, ChargePoint's robust liquidity position with $292.3 million in cash and equivalents and no debt maturities until 2028 provides a strong cushion for ongoing operations and potential growth initiatives.

ChargePoint's performance in the EV charging market presents both opportunities and challenges. The substantial decrease in networked charging systems revenue by 34% might indicate competitive pressures or market saturation in certain regions. Meanwhile, the 27% increase in subscription revenue reveals a shifting focus towards monetizing their network and services, a strategic move to ensure a more predictable revenue stream.

ChargePoint’s guidance for the upcoming quarters suggests cautious optimism. The projected revenue of $108 million to $118 million for Q2 indicates anticipated growth, albeit at a moderate level. The reaffirmation of achieving positive non-GAAP Adjusted EBITDA by Q4 FY2025 represents a critical milestone, signaling potential profitability and operational stability.

Additionally, ChargePoint’s expansion to over one million charging locations worldwide and success with NEVI program awards further solidify its market presence and future revenue opportunities.

ChargePoint's advancements and strategic moves highlight several tech-centric developments. The FedRAMP authorization and subsequent shipment of a multimillion dollar order signifies a significant step towards securing federal contracts, which can be a stable and lucrative revenue stream. This certification is a testament to ChargePoint’s commitment to meeting stringent security standards required by federal agencies.

The company's ability to enable access to more than one million charging locations worldwide not only demonstrates scalability but also enhances their network effect, making ChargePoint more attractive to users and potential partners. These factors contribute to network reliability and user trust, essential elements in the competitive EV charging market.

The anticipated positive non-GAAP Adjusted EBITDA by Q4 FY2025 hinges on continued technological and operational efficiencies, underscoring the importance of innovation in maintaining competitive advantage.

  • First quarter fiscal 2025 revenue of $107 million
  • First quarter fiscal 2025 GAAP gross margin of 22% and non-GAAP gross margin of 24%
  • First quarter fiscal 2025 subscription revenue of $33 million representing 27% year over year growth
  • First quarter fiscal 2025 GAAP net loss improved by 10% and non-GAAP Adjusted EBITDA loss improved by 25% year over year
  • ChargePoint guides to second quarter fiscal 2025 revenue of $108 to $118 million

CAMPBELL, Calif.--(BUSINESS WIRE)-- ChargePoint Holdings, Inc. (NYSE:CHPT) (“ChargePoint”), a leading provider of networked solutions for charging electric vehicles (EVs), today reported results for its first quarter of fiscal year 2025 ended April 30, 2024.

“ChargePoint delivered as anticipated in the first quarter. We achieved revenue above the midpoint of our guidance range, sequential gross margin improvements, meaningful reduction in operating expenses, and an improvement in non-GAAP adjusted EBITDA loss,” said Rick Wilmer, CEO of ChargePoint. “We remain focused on operational excellence, which will enable us to continue to deliver great driver experiences and be the platform of choice for everyone who wants to offer EV charging.”

First Quarter Fiscal 2025 Financial Overview

  • Revenue. First quarter revenue was $107.0 million, down 18% from $130.0 million in the prior year’s same quarter. Networked charging systems revenue for the first quarter was $65.4 million, down 34% from $98.3 million in the prior year’s same quarter. Subscription revenue was $33.4 million, up 27% from $26.4 million in the prior year’s same quarter.
  • Gross Margin. First quarter GAAP gross margin was 22% as compared to 23% in the prior year's same quarter, and non-GAAP gross margin was 24% as compared to 25% in the prior year's same quarter.
  • Operating Expenses. First quarter GAAP operating expenses were $90.7 million, down 18% from $110.5 million in the prior year's same quarter. Non-GAAP operating expenses were $66.4 million, down 22% from $85.2 million in the prior year's same quarter.
  • Net Income/Loss. First quarter GAAP net loss was $71.8 million, down 10% from $79.4 million in the prior year's same quarter. Non-GAAP pre-tax net loss was $45.2 million, down 14% from $52.8 million in the prior year's same quarter. Non-GAAP Adjusted EBITDA Loss was $36.5 million, down 25% from $48.9 million in the prior year's same quarter.
  • Liquidity. As of April 30, 2024, cash, cash equivalents and restricted cash on the balance sheet was $292.3 million. ChargePoint's $150 million revolving credit facility remains undrawn and ChargePoint has no debt maturities until 2028.
  • Shares Outstanding. As of April 30, 2024, the Company had approximately 425 million shares of common stock outstanding.

For reconciliation of GAAP and non-GAAP results, please see the tables below.

Business Highlights

  • ChargePoint now enables access to more than one million places to charge worldwide across public, private and roaming ports.
  • Following receipt of FedRAMP authorization, ChargePoint shipped its first multimillion dollar order requiring FedRAMP certification.
  • To-date, ChargePoint's customers have been successful in winning more than 120 individual National Electric Vehicle Infrastructure (NEVI) Program proposed site awards totaling approximately $71 million in grant opportunities.

Second Quarter and Fourth Quarter of Fiscal 2025 Guidance

For the second fiscal quarter ending July 31, 2024, ChargePoint expects revenue of $108 million to $118 million.

For the fourth quarter of fiscal year 2025 ending January 31, 2025, the Company reaffirms its goal to achieve positive non-GAAP Adjusted EBITDA.

ChargePoint is not able to present a reconciliation of its forward-looking non-GAAP Adjusted EBITDA goal to the corresponding GAAP measure because certain potential future adjustments, which may be significant and may include, among other items, stock-based compensation expense, are uncertain or out of its control, or cannot be reasonably predicted without unreasonable effort. The actual amounts of such reconciling items could have a significant impact on ChargePoint's GAAP Net Loss.

Conference Call Information

ChargePoint will host a webcast today at 1:30 p.m. Pacific / 4:30 p.m. Eastern to review its first quarter fiscal 2025 financial results.

Investors may access the webcast, supplemental financial information and investor presentation at ChargePoint’s investor relations website (investors.chargepoint.com) under the “Events and Presentations” section. A replay will be available after the conclusion of the webcast and archived for one year.

About ChargePoint

ChargePoint is creating a new fueling network to move people and goods on electricity. Since 2007, ChargePoint has been committed to making it easy for businesses and drivers to go electric with one of the largest EV charging networks and a comprehensive portfolio of charging solutions. The ChargePoint cloud subscription platform and software-defined charging hardware are designed to include options for every charging scenario from home and multifamily to workplace, parking, hospitality, retail and transport fleets of all types. Today, one ChargePoint account provides access to hundreds-of-thousands of places to charge in North America and Europe. For more information, visit the ChargePoint pressroom, the ChargePoint Investor Relations site, or contact the ChargePoint North American or European press offices or Investor Relations.

Forward-Looking Statements

This press release contains forward-looking statements that involve risks, uncertainties, and assumptions including statements regarding our projected revenue for the second quarter of fiscal year 2025, our goal to achieve positive non-GAAP Adjusted EBITDA in the fourth quarter of fiscal year 2025, and ChargePoint and it's customers ability to successfully realize the total number and amount of final awarded NEVI grant opportunities. 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, 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 and integrate other companies, products or technologies in a successful manner; our dependence on widespread acceptance and adoption of EVs and increased demand for installation of charging stations; our current dependence on sales of charging stations for most of our revenues; overall demand for EV charging and the potential for reduced demand for EVs if governmental 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 NEVI grant opportunities in accordance with the respective terms of the NEVI program in order to validly secure and obtain awarded funding and win additional NEVI 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, inventory obsolescence, component shortages and related expense increases; 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-K filed with the Securities and Exchange Commission (the “SEC”) on April 1, 2024, 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

ChargePoint has provided financial 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 financial measures internally in analyzing its financial results. ChargePoint believes that the use of these non-GAAP financial 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 the Company believes are unrelated to, and may not be indicative of, its core operating results.

The presentation of these non-GAAP financial measures is not meant to be considered in isolation or as a substitute for comparable GAAP financial measures and should be read only in conjunction with ChargePoint’s consolidated financial statements prepared in accordance with GAAP. A reconciliation of ChargePoint’s historical non-GAAP financial measures to their most directly comparable GAAP measures has been provided in the financial statement tables included in this press release, and investors are encouraged to review these reconciliations.

Non-GAAP Gross Profit (Gross Margin). ChargePoint defines non-GAAP gross profit as gross profit excluding stock-based compensation expense and amortization expense of acquired intangible assets. Non-GAAP gross margin is non-GAAP gross profit as a percentage of revenue.

Non-GAAP Cost of Revenue and Operating Expenses (includes Non-GAAP research and development, Non-GAAP sales and marketing and Non-GAAP general and administrative). ChargePoint defines non-GAAP cost of revenue and operating expenses as cost of revenue and operating expenses excluding stock-based compensation expense, restructuring costs for severances and employment-related termination costs, amortization expense of acquired intangible assets, non-cash charges related to tax liabilities and litigation settlements, including associated non-recurring legal expenses.

Non-GAAP Net Loss. ChargePoint defines non-GAAP net loss as net loss excluding stock-based compensation expense, restructuring costs for severances and employment-related termination costs, amortization expense of acquired intangible assets, non-cash charges related to tax liabilities and litigation settlements, including associated non-recurring legal expenses. These amounts reflect the impact of any related tax effects. Non-GAAP pre-tax net loss is non-GAAP net loss adjusted for provision for income taxes.

Non-GAAP Adjusted EBITDA Loss. ChargePoint defines non-GAAP adjusted EBITDA loss as net loss excluding stock-based compensation expense, restructuring costs for severances and employment-related termination costs, amortization expense of acquired intangible assets, non-cash charges related to tax liabilities and litigation settlements, including associated non-recurring legal expenses, 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 financial measures to analyze financial results and trends. In particular, many of the adjustments to ChargePoint’s GAAP financial measures reflect the exclusion of items that are recurring and will be reflected in its financial 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 financial measures are not based on any standardized methodology prescribed by GAAP, and the components that ChargePoint excludes in its calculation of non-GAAP financial measures may differ 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 reflect 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 Ended

April 30,

 

 

2024

 

 

 

2023

 

Revenue

 

 

 

Networked charging systems

$

65,374

 

 

$

98,320

 

Subscriptions

 

33,444

 

 

 

26,365

 

Other

 

8,224

 

 

 

5,345

 

Total revenue

 

107,042

 

 

 

130,030

 

Cost of revenue

 

 

 

Networked charging systems

 

61,066

 

 

 

80,922

 

Subscriptions

 

17,742

 

 

 

14,804

 

Other

 

4,624

 

 

 

3,769

 

Total cost of revenue

 

83,432

 

 

 

99,495

 

Gross profit

 

23,610

 

 

 

30,535

 

Operating expenses

 

 

 

Research and development

 

36,052

 

 

 

49,396

 

Sales and marketing

 

35,000

 

 

 

37,041

 

General and administrative

 

19,697

 

 

 

24,020

 

Total operating expenses

 

90,749

 

 

 

110,457

 

Loss from operations

 

(67,139

)

 

 

(79,922

)

Interest income

 

3,209

 

 

 

2,460

 

Interest expense

 

(6,611

)

 

 

(2,926

)

Other income (expense), net

 

(850

)

 

 

573

 

Net loss before income taxes

 

(71,391

)

 

 

(79,815

)

Provision for (benefit from) income taxes

 

408

 

 

 

(427

)

Net loss

$

(71,799

)

 

$

(79,388

)

Net loss per share, basic and diluted

$

(0.17

)

 

$

(0.23

)

Weighted average shares outstanding, basic and diluted

 

423,290,222

 

 

 

350,043,454

 

ChargePoint Holdings, Inc.

PRELIMINARY CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, unaudited)

 

 

 

 

 

April 30, 2024

 

January 31, 2024

Assets

 

 

 

Current assets:

 

 

 

Cash and cash equivalents

$

261,859

 

 

$

327,410

 

Restricted cash

 

30,400

 

 

 

30,400

 

Accounts receivable, net

 

117,798

 

 

 

124,049

 

Inventories

 

223,557

 

 

 

198,580

 

Prepaid expenses and other current assets

 

64,673

 

 

 

62,244

 

Total current assets

 

698,287

 

 

 

742,683

 

Property and equipment, net

 

41,014

 

 

 

42,446

 

Intangible assets, net

 

76,964

 

 

 

80,555

 

Operating lease right-of-use assets

 

14,597

 

 

 

15,362

 

Goodwill

 

212,385

 

 

 

213,750

 

Other assets

 

7,985

 

 

 

8,567

 

Total assets

$

1,051,232

 

 

$

1,103,363

 

Liabilities and Stockholders' Equity

 

 

 

Current liabilities:

 

 

 

Accounts payable

$

84,062

 

 

$

71,081

 

Accrued and other current liabilities

 

141,108

 

 

 

159,104

 

Deferred revenue

 

102,615

 

 

 

99,968

 

Total current liabilities

 

327,785

 

 

 

330,153

 

Deferred revenue, noncurrent

 

132,080

 

 

 

131,471

 

Debt, noncurrent

 

284,689

 

 

 

283,704

 

Operating lease liabilities

 

16,312

 

 

 

17,350

 

Deferred tax liabilities

 

10,872

 

 

 

11,252

 

Other long-term liabilities

 

1,570

 

 

 

1,757

 

Total liabilities

 

773,308

 

 

 

775,687

 

Stockholders' equity:

 

 

 

Common stock

 

43

 

 

 

42

 

Additional paid-in capital

 

1,982,052

 

 

 

1,957,932

 

Accumulated other comprehensive loss

 

(18,000

)

 

 

(15,926

)

Accumulated deficit

 

(1,686,171

)

 

 

(1,614,372

)

Total stockholders' equity

 

277,924

 

 

 

327,676

 

Total liabilities and stockholders' equity

$

1,051,232

 

 

$

1,103,363

 

ChargePoint Holdings, Inc.

PRELIMINARY CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands, unaudited)

 

 

 

Three Months Ended

April 30,

 

 

2024

 

 

 

2023

 

Cash flows from operating activities

 

 

 

Net loss

$

(71,799

)

 

$

(79,388

)

Adjustments to reconcile net loss to net cash used in operating activities:

 

 

 

Depreciation and amortization

 

7,445

 

 

 

7,053

 

Non-cash operating lease cost

 

941

 

 

 

1,090

 

Stock-based compensation

 

21,599

 

 

 

23,964

 

Amortization of deferred contract acquisition costs

 

785

 

 

 

675

 

Reserves and other

 

8,842

 

 

 

3,880

 

Changes in operating assets and liabilities:

 

 

 

Accounts receivable, net

 

4,783

 

 

 

(1,991

)

Inventories

 

(24,977

)

 

 

(53,136

)

Prepaid expenses and other assets

 

(2,879

)

 

 

(17,880

)

Accounts payable, operating lease liabilities, and accrued and other liabilities

 

(10,792

)

 

 

4,934

 

Deferred revenue

 

3,510

 

 

 

6,554

 

Net cash used in operating activities

 

(62,542

)

 

 

(104,245

)

Cash flows from investing activities

 

 

 

Purchases of property and equipment

 

(3,468

)

 

 

(5,840

)

Maturities of investments

 

 

 

 

105,000

 

Net cash provided by (used in) investing activities

 

(3,468

)

 

 

99,160

 

Cash flows from financing activities

 

 

 

Proceeds from the issuance of common stock under employee equity plans, net of tax withholding

 

3,525

 

 

 

5,790

 

Proceeds from issuance of common stock in connection with ATM offerings, net of issuance costs

 

 

 

 

17,516

 

Change in driver funds and amounts due to customers

 

(2,483

)

 

 

3,990

 

Settlement of contingent earnout liability

 

 

 

 

(3,537

)

Net cash provided by financing activities

 

1,042

 

 

 

23,759

 

Effect of exchange rate changes on cash, cash equivalents, and restricted cash

 

(583

)

 

 

511

 

Net increase (decrease) in cash, cash equivalents, and restricted cash

 

(65,551

)

 

 

19,185

 

Cash, cash equivalents, and restricted cash at beginning of period

 

357,810

 

 

 

294,562

 

Cash, cash equivalents, and restricted cash at end of period

$

292,259

 

 

$

313,747

 

ChargePoint Holdings, Inc.

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

(In thousands, unaudited)

 

 

 

 

 

 

 

Three

Months Ended

April 30, 2024

 

Three

Months Ended

April 30, 2023

Cost of Revenue:

 

 

 

 

 

 

 

 

GAAP cost of revenue

 

$

83,432

 

 

 

 

$

99,495

 

 

 

Stock-based compensation expense

 

 

(1,084

)

 

 

 

 

(996

)

 

 

Amortization of intangible assets

 

 

(763

)

 

 

 

 

(766

)

 

 

Non-GAAP cost of revenue

 

$

81,585

 

 

 

 

$

97,733

 

 

 

Non-GAAP gross profit (gross margin as a percentage of revenue)

 

$

25,457

 

 

24

%

 

$

32,297

 

 

25

%

 

 

 

 

 

 

 

 

 

Operating Expenses:

 

 

 

 

 

 

 

 

GAAP research and development

 

$

36,052

 

 

 

 

$

49,396

 

 

 

Stock-based compensation expense

 

 

(8,303

)

 

 

 

 

(9,506

)

 

 

Restructuring costs (1)

 

 

 

 

 

 

 

1

 

 

 

Non-GAAP research and development (as a percentage of revenue)

 

$

27,749

 

 

26

%

 

$

39,891

 

 

31

%

 

 

 

 

 

 

 

 

 

GAAP sales and marketing

 

$

35,000

 

 

 

 

$

37,041

 

 

 

Stock-based compensation expense

 

 

(5,441

)

 

 

 

 

(4,169

)

 

 

Amortization of intangible assets

 

 

(2,261

)

 

 

 

 

(2,272

)

 

 

Restructuring costs (1)

 

 

 

 

 

 

 

1

 

 

 

Non-GAAP sales and marketing (as a percentage of revenue)

 

$

27,298

 

 

26

%

 

$

30,601

 

 

24

%

 

 

 

 

 

 

 

 

 

GAAP general and administrative

 

$

19,697

 

 

 

 

$

24,020

 

 

 

Stock-based compensation expense

 

 

(6,771

)

 

 

 

 

(9,294

)

 

 

Other adjustments (2)

 

 

(1,609

)

 

 

 

 

 

 

 

Non-GAAP general and administrative (as a percentage of revenue)

 

$

11,317

 

 

11

%

 

$

14,726

 

 

11

%

 

 

 

 

 

 

 

 

 

Non-GAAP Operating Expenses (as a percentage of revenue)

 

$

66,364

 

 

62

%

 

$

85,218

 

 

66

%

 

 

 

 

 

 

 

 

 

Net Loss:

 

 

 

 

 

 

 

 

GAAP net loss

 

$

(71,799

)

 

 

 

$

(79,388

)

 

 

Stock-based compensation expense

 

 

21,599

 

 

 

 

 

23,965

 

 

 

Amortization of intangible assets

 

 

3,024

 

 

 

 

 

3,038

 

 

 

Restructuring costs (1)

 

 

 

 

 

 

 

(2

)

 

 

Other adjustments (2)

 

 

1,609

 

 

 

 

 

 

 

 

Non-GAAP net loss (as a percentage of revenue)

 

$

(45,567

)

 

(43

)%

 

$

(52,387

)

 

(40

)%

Provision for (benefit from) income taxes

 

 

408

 

 

 

 

 

(427

)

 

 

Non-GAAP pre-tax net loss (as a percentage of revenue)

 

$

(45,159

)

 

(42

)%

 

$

(52,814

)

 

(41

)%

Depreciation

 

 

4,421

 

 

 

 

 

4,016

 

 

 

Interest income

 

 

(3,209

)

 

 

 

 

(2,460

)

 

 

Interest expense

 

 

6,611

 

 

 

 

 

2,926

 

 

 

Other expense (income), net

 

 

850

 

 

 

 

 

(573

)

 

 

Non-GAAP Adjusted EBITDA Loss (as a percentage of revenue)

 

$

(36,486

)

 

(34

)%

 

$

(48,905

)

 

(38

)%

(1)

Consists of restructuring costs for severances and employment-related termination costs.

(2)

Consists of non-cash charges related to tax liabilities and litigation settlements, including associated non-recurring legal expenses.

 

Investor Relations

Patrick Hamer

Vice President, Capital Markets and Investor Relations

Patrick.Hamer@chargepoint.com

investors@chargepoint.com

Press

John Paolo Canton

Vice President, Communications

JP.Canton@chargepoint.com

AJ Gosselin

Director, Corporate Communications

AJ.Gosselin@chargepoint.com

media@chargepoint.com

Source: ChargePoint Holdings, Inc.

FAQ

What was ChargePoint's revenue for Q1 fiscal 2025?

ChargePoint's revenue for Q1 fiscal 2025 was $107 million.

How did ChargePoint's subscription revenue perform in Q1 fiscal 2025?

ChargePoint's subscription revenue increased by 27% year over year to $33.4 million in Q1 fiscal 2025.

What is ChargePoint's guidance for Q2 fiscal 2025 revenue?

ChargePoint's guidance for Q2 fiscal 2025 revenue is between $108 million and $118 million.

How much cash did ChargePoint have at the end of Q1 fiscal 2025?

As of April 30, 2024, ChargePoint had $292.3 million in cash, cash equivalents, and restricted cash.

What was ChargePoint's GAAP net loss for Q1 fiscal 2025?

ChargePoint's GAAP net loss for Q1 fiscal 2025 was $71.8 million, an improvement of 10% from the previous year's same quarter.

Did ChargePoint achieve a positive non-GAAP adjusted EBITDA in Q1 fiscal 2025?

No, but ChargePoint's non-GAAP adjusted EBITDA loss improved by 25% to $36.5 million in Q1 fiscal 2025.

ChargePoint Holdings, Inc.

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