ChargePoint Holdings, Inc. - CHPT STOCK NEWS

ChargePoint (NYSE: CHPT) has announced a new partnership with Lexus to offer drivers of the all-electric RZ 450e crossover access to its extensive charging solutions. Lexus dealers will provide the option to purchase the ChargePoint Home Flex Level 2 charger, which is ENERGY STAR certified and Wi-Fi enabled, allowing faster charging times. This collaboration aims to simplify the charging experience for drivers, providing seamless access to both public and home charging through the ChargePoint network, covering over 80% of charging spots in North America. The Home Flex charger offers features like scheduling charging times and voice integration with smart devices.

Lexus has partnered with ChargePoint and Qmerit to enhance the charging experience for RZ 450e customers. Participating dealers will offer the ChargePoint Home Flex charger, which is ENERGY STAR certified and capable of charging electric vehicles up to nine times faster than standard outlets. Qmerit will assist customers by providing certified electricians for the installation of home chargers. Additionally, RZ 450e owners can access over 80% of public charging locations in North America through ChargePoint's extensive network. This collaboration aims to provide a seamless charging experience both at home and on the road.

ChargePoint Holdings (NYSE: CHPT), in collaboration with Mercedes-Benz and MN8 Energy, plans to develop over 400 DC fast charging hubs across the U.S. and Canada, featuring more than 2,500 ChargePoint ports. This initiative aims to enhance the charging experience for EV drivers, starting this year, with hubs located in key cities and along major highways. The charging stations will use ChargePoint's Express Plus platform, delivering up to 500kW per port, and provide benefits like automatic authentication for Mercedes-Benz customers. The project is expected to catalyze a new retail economy centered on EV charging.

Linse Capital, headquartered in San Juan, Puerto Rico, has successfully raised $700 million for its flagship Linse Capital Fund I (LCFI) along with two co-investment vehicles for portfolio companies Skydio and Verkada. The firm has raised over $1.1 billion since its inception in 2015, with a focus on industrial technology investments in sectors like transportation and energy. Notably, Linse Capital was a leading early investor in ChargePoint (CHPT) and aims to make concentrated investments of $100 million to $400 million in selected companies annually.

ChargePoint reported a third quarter fiscal 2023 revenue of $125 million, marking a 93% year-over-year growth. The GAAP gross margin decreased to 18%, down from 25% due to supply chain challenges. ChargePoint guides for fourth quarter revenue between $160 million and $170 million, projecting a yearly total of $475 million to $485 million. Operating expenses are expected to decrease to $325 million to $335 million, down by $30 million from previous guidance. The net loss for the quarter was $84.5 million.

ChargePoint Holdings (NYSE:CHPT) announced it will release its third-quarter financial results after market close on December 1, 2022. The conference call for management to discuss these results is scheduled for 1:30 PM Pacific Time. Interested parties can access the live webcast on ChargePoint’s investor relations website. ChargePoint, a leader in electric vehicle charging networks, has been operational since 2007, offering a vast portfolio of charging solutions in North America and Europe, with over 133 million charging sessions delivered to date.

Nikola Corporation (NKLA) has partnered with ChargePoint (CHPT) to enhance electric vehicle charging infrastructure across the U.S. This collaboration enables the Nikola Sales and Service Dealer Network to resell ChargePoint's charging solutions, streamlining project designs for fleet customers. By accessing ChargePoint's software, Nikola aims to improve fleet management and operational efficiency. Initial deliveries of ChargePoint’s rapid deployment DC fast charging solutions are expected to begin in November 2022. This partnership positions Nikola to better serve its customers in the electrification of transportation.

ChargePoint Holdings, Inc. (NYSE: CHPT) has launched the CP6000, a versatile AC EV charging solution tailored for the European market. This new offering supports businesses and fleets in the transition to electric mobility, providing scalability, reliability, and a user-friendly experience. The CP6000 integrates network software and hardware, allowing for flexible configurations and seamless operation. ChargePoint aims to meet the expected rapid growth in EV charging demand, emphasizing its experience and commitment to simplifying the transition to electric vehicles.

Verkada has secured $205 million in a Series D funding round, raising its valuation to $3.2 billion. The funding, led by Linse Capital, will accelerate investments in existing and new product lines, expand hiring, and support geographic growth. Since 2020, Verkada has quadrupled its customer base and team size, nearly doubling revenue year-over-year. Their six product lines offer an integrated security solution, serving over 13,000 organizations worldwide, including several Fortune 500 companies.