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ChargePoint Holdings, Inc. - CHPT STOCK NEWS

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.

News

ChargePoint Announces Reorganization to Position Itself for Long-Term, Sustainable Growth

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ChargePoint (CHPT) Announces Strategic Reorganization to Improve Financial Performance and Position for Sustainable Growth
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ChargePoint Reports Third Quarter Fiscal Year 2024 Financial Results

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ChargePoint Holdings, a leading provider of networked solutions for charging electric vehicles (EVs) (NYSE:CHPT) reported third quarter fiscal 2024 revenue of $110 million, a 12% decrease year-over-year. The GAAP gross margin was negative 22% and non-GAAP gross margin was negative 18%, reflecting a $42 million inventory impairment charge. The company plans to achieve positive non-GAAP Adjusted EBITDA in the fourth quarter of calendar year 2024.
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ChargePoint Provides Certain Preliminary Third Quarter Financial Results and Schedules Earnings Call for December 6, 2023

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ChargePoint (NYSE:CHPT) announced preliminary third quarter financial results for fiscal year 2024, with revenue falling short of expectations due to macroeconomic conditions and delivery delays. The company expects to take a non-cash impairment charge of $42 million and aims to achieve positive adjusted EBITDA in the fourth quarter of calendar 2024. Cash, cash equivalents, and restricted cash totaled approximately $397 million as of October 31, 2023. The company's $150 million revolving credit facility remains undrawn, and it has no drawn debt maturities until 2028.
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ChargePoint Announces Executive Leadership Changes

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ChargePoint (NYSE: CHPT) appoints Rick Wilmer as President and CEO, effective November 16, 2023. Wilmer brings over 30 years of global technology and operations experience. He succeeds Pasquale Romano, who will remain as an advisor. CFO Rex Jackson departs, and Mansi Khetani becomes interim CFO.
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ChargePoint Express Plus Power Link 2000 Enables Launch of the Fastest Charging Network in North America

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ChargePoint (NYSE: CHPT) announces the large-scale deployment of its new Express Plus Power Link 2000 DC fast charging platform, capable of delivering speeds up to 500kW, powering the fastest public charging network in North America: Mercedes-Benz HPC NA. The architecture is based upon Power Blocks, which house up to five Power Modules to reach a desired charging specification, delivering power that can be dynamically shared amongst Power Link charging stations. The Power Link 2000 station debuts with critical features such as the ability to charge two vehicles simultaneously at very high speeds, meeting the charging needs of both current and future EVs. ChargePoint software enables a seamless driver experience with preferential charger access via a reservation system and automatic payment functionality via 'Plug & Charge.'
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ChargePoint Launches Updated Mobile App to Celebrate the EV Charging Network Reaching One Million Quarterly Active Drivers

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ChargePoint (CHPT) Achieves Milestone of One Million Quarterly Active Drivers, Releases Updated Mobile App for EV Charging
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ChargePoint Named Top EV Charger Networking Company by Guidehouse Insights

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ChargePoint has been recognized as the top ranking company in the Guidehouse Insights Leaderboard for EV Charger Networking Companies. The report analyzes brands based on strategy and execution in developing, marketing, and selling EV charging solutions.
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ChargePoint Accelerates Fleet Electrification with New Suite of Management Applications

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ChargePoint announces the expansion of its fleet management product line, offering software solutions for both mixed fuel and all-electric fleets. The suite includes charging station management, vehicle telematics, and mobility services. The platform aims to lower the total cost of ownership for fleet operators and simplify fleet management.
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ChargePoint Ramps Up Production of Tesla-Compatible NACS EV Chargers

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ChargePoint introduces NACS connector support for its AC and DC charging solutions, providing a fast charging alternative for Tesla drivers.
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ChargePoint Raises $232M to Support Path to Profitability in 2024

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ChargePoint secures $175M in new equity and raises $57M in Q3 2024
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FAQ

What is the current stock price of ChargePoint Holdings (CHPT)?

The current stock price of ChargePoint Holdings (CHPT) is $1.12 as of November 15, 2024.

What is the market cap of ChargePoint Holdings (CHPT)?

The market cap of ChargePoint Holdings (CHPT) is approximately 483.4M.

What does ChargePoint Holdings, Inc. do?

ChargePoint operates the world's largest EV charging network, designing and developing networked EV charging systems and cloud-based services.

How does ChargePoint generate revenue?

ChargePoint generates most of its revenue from the United States through its extensive EV charging network and related services.

What are some recent achievements of ChargePoint?

ChargePoint recently announced a significant collaboration with AcBel Polytech Inc. to develop advanced EV charging solutions.

What types of charging solutions does ChargePoint offer?

ChargePoint offers hardware solutions for home, commercial, and fast-charging applications, along with cloud-based services for locating, reserving, and authenticating EV charging.

Where can I find more information about ChargePoint?

Visit ChargePoint's official website at https://www.chargepoint.com for more details.

What is ChargePoint's mission?

ChargePoint's mission is to get everyone behind the wheel of an electric vehicle and simplify the charging process, regardless of car model.

How extensive is ChargePoint's charging network?

ChargePoint manages over 274,000 active charging ports across North America and Europe.

Who are ChargePoint's strategic partners?

ChargePoint has recently collaborated with AcBel Polytech Inc. and Kinpo Group to enhance its EV charging solutions.

What is the company's vision for the future?

ChargePoint aims to create a new fueling network that moves people and goods on electricity, contributing to a sustainable future.

How does ChargePoint support EV drivers?

ChargePoint offers a comprehensive portfolio of charging solutions and a cloud subscription platform that makes it easy for drivers to find, reserve, and use charging stations.

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ChargePoint Holdings, Inc.

NYSE:CHPT

CHPT Rankings

#3127 Ranked by Market Cap
N/A Ranked by Dividends

CHPT Stock Data

483.37M
431.58M
1.93%
57.55%
26.29%
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