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. (CHPT) drives innovation in electric vehicle charging infrastructure through its networked solutions and cloud-based services. This page serves as a centralized repository for official company announcements, providing stakeholders with direct access to verified updates about operational developments.
Investors and industry professionals will find timely press releases covering earnings reports, product launches, strategic partnerships, and technology advancements. Each update is curated to highlight CHPT's role in advancing sustainable transportation while maintaining compliance with financial disclosure standards.
The collection emphasizes critical business activities including charging network expansions, software platform enhancements, and industry collaborations. Users can track the company's progress in addressing EV adoption challenges through infrastructure innovation and smart energy management solutions.
Bookmark this page for streamlined access to CHPT's evolving position in the electric mobility sector. Return regularly to monitor how the company's technology developments align with broader shifts toward renewable transportation infrastructure.
ChargePoint (NYSE:CHPT) and LG Electronics have entered a strategic partnership to develop advanced EV charging solutions. The collaboration will integrate ChargePoint's software with LG's hardware, aiming to deliver commercial charging solutions by late summer. Future projects may involve combining ChargePoint's software with LG's energy storage systems and smart home platform.
This partnership leverages the strengths of both companies, with ChargePoint's 306,000 charging ports and LG's reliable, high-quality EV chargers. The collaboration aims to compete for public sector infrastructure projects, particularly those requiring high-quality domestic production and information security. The agreement also positions LG to advance in the global EV charging market, supported by its new factory in Fort Worth, Texas.
ChargePoint and Porsche Cars North America (PCNA) have announced a partnership to integrate ChargePoint's network into the Porsche Charging Service. This collaboration will expand the number of charging stations available to Porsche customers to over 100,000 across North America. The integration will be accessible via the My Porsche app, streamlining the charging experience for Porsche's electric and plug-in hybrid vehicles. The new service is expected to go live in Q4 2024, coinciding with Porsche's upcoming electric vehicle launches, including the Taycan and Macan Electric.
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.
ChargePoint (NYSE: CHPT) has partnered with Airbnb (NASDAQ: ABNB) to facilitate easy installation of EV chargers for Airbnb hosts in the U.S. This collaboration aims to meet the increasing demand for EV charging among Airbnb guests. Effective immediately, Airbnb hosts can purchase and install ChargePoint chargers through a dedicated website, featuring hardware, software, and support services. This initiative is expected to enhance the appeal of Airbnb listings, as data shows that listings with EV chargers are booked more frequently and generate higher income. Additionally, the ChargePoint network includes over 917,000 charging locations. Airbnb searches for listings with EV chargers increased by over 80% from 2022 to 2023, and ChargePoint's North American drivers logged more than 79 million hours of residential charging in 2023.
ChargePoint (NYSE: CHPT) has introduced the Megawatt Charging System (MCS), a groundbreaking addition to its DC fast charging lineup.
This system is capable of delivering up to 1.2 megawatts initially, and up to 3 megawatts in the future, supporting the electrification of commercial trucking, marine, and aviation industries. The MCS will be showcased at the ACT Expo in Las Vegas from May 20-23, 2024. This innovation aims to reduce emissions from the transportation sector, which contributes over 400 million metric tons of greenhouse gases annually in the USA. ChargePoint's MCS will enable bi-directional charging and is integrated with the Power Link 2000 stations, part of their Express Plus DC fast charging platform.
This move aligns with global climate goals and positions ChargePoint as a leader in providing comprehensive EV charging solutions.
ChargePoint (NYSE: CHPT), a prominent provider of EV charging network solutions, will release its financial results for Q1 FY 2025 on June 5, 2024. The fiscal quarter concluded on April 30, 2024.
A conference call to discuss these results is scheduled at 1:30 p.m. PT (4:30 p.m. ET) on the same day, accessible via a live webcast on ChargePoint’s investor relations site. A replay will be available post-webcast for a year. The press release detailing the financial results will be posted on the same site before the webcast begins.
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