Company Announcements

• Revenue of $99 million, at the top end of the guidance range
• GAAP gross margin grows to 31% and non-GAAP gross margin grows to 33%
• Subscription revenue of $40 million representing 10% year-over-year growth
• Announced new modular Express DC fast charging architecture in collaboration with Eaton and operationalized joint go-to-market strategy

CAMPBELL, Calif.--(BUSINESS WIRE)--Sep. 3, 2025-- ChargePoint Holdings, Inc. (NYSE:CHPT) (“ChargePoint”), a leading provider of networked solutions for charging electric vehicles (EVs), today reported results for its second quarter of fiscal year 2026 ended July 31, 2025.

“In the second quarter, ChargePoint’s focus on operational excellence delivered meaningful improvement in gross margin and cash management. Our commitment to deliver innovation is translating into new products that are receiving very positive market reaction,” said Rick Wilmer, CEO of ChargePoint. “Furthermore, ChargePoint made major strides in operationalizing our strategic partnership with Eaton, and we are already achieving results. Together, we expect to deliver tremendous value with our new Express DC fast charging architecture, which we believe will change the economics of DC fast charging for the industry, and our new Flex AC product line.”

Second Quarter Fiscal 2026 Financial Overview

• Revenue. Second quarter revenue was $98.6 million, down 9% from $108.5 million in the prior year’s same quarter. Networked charging systems revenue for the first quarter was $50.4 million, down 21% from $64.1 million in the prior year’s same quarter. Subscription revenue was $39.9 million, up 10% from $36.2 million in the prior year’s same quarter.
• Gross Margin. Second quarter GAAP gross margin was 31% as compared to 24% in the prior year's same quarter, and non-GAAP gross margin was 33% as compared to 26% in the prior year's same quarter primarily due to subscription revenue growth as a percentage of total revenue and improvement in subscription margins.
• Operating Expenses. Second quarter GAAP operating expenses were $89.7 million, up 2% from $88.3 million in the prior year's same quarter. Non-GAAP operating expenses were $58.6 million, down 12% from $66.4 million in the prior year's same quarter.
• Net Income/Loss. Second quarter GAAP net loss was $66.2 million, down 4% from $68.9 million in the prior year's same quarter. Additionally, non-GAAP pre-tax net loss was $31.9 million, down 26% from $43.0 million in the prior year's same quarter and non-GAAP adjusted EBITDA loss was $22.1 million, down 35% from $34.1 million in the prior year's same quarter.
• Liquidity. As of July 31, 2025, cash and cash equivalents on the balance sheet was $194.5 million, ChargePoint's$150.0 million revolving credit facility remains undrawn and ChargePoint has no debt maturities until 2028.
• Shares Outstanding. As of July 31, 2025, the Company had approximately 23 million shares of common stock outstanding.

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

Business Highlights

• ChargePoint and Eaton announced a new modular Express DC fast charging architecture with end-to-end power infrastructure, featuring vehicle-to-grid (V2G) capabilities and multi-megawatts of output. The system can be deployed with 30% lower investment in a 30% smaller footprint while delivering up to a 30% reduction in ongoing operational costs, compared to other available solutions.
• ChargePoint and Eaton operationalized their go-to-market relationship, recording the first revenue deals.
• ChargePoint introduced Safeguard Care, which provides site hosts with regular on-site inspections of their charging stations, and began shipping conversion kits to install its Omni Port adaptable charging solution to ensure all drivers can charge when and where they need to, regardless of connector type.

Third Quarter of Fiscal 2026 Guidance

For the third fiscal quarter ending October 31, 2025, ChargePoint expects revenue of $90 million to $100 million.

Conference Call Information

ChargePoint will host a webcast today at 1:30 p.m. Pacific / 4:30 p.m. Eastern to review its second quarter fiscal year 2026 financial results.

A live webcast of the conference call will be available at https://events.q4inc.com/attendee/626783075. Participants can also access the conference call by dialing +1 (800) 715-9871 (North America toll free) or + 1 (646) 307-1963 (international) and Conference ID 1744120. A replay will be available after the conclusion of the webcast and archived for one year. A copy of this press release with the financial results and supplemental financial information will be also available on ChargePoint’s investor relations website (investors.chargepoint.com).

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 press office or Investor Relations.

Forward-Looking Statements

This press release contains forward-looking statements that involve risks, uncertainties, and assumptions including statements regarding our plans to release a new Express DC fast charging architecture, the launch of our new on-site inspection service called Safeguard Care, our partnership with Eaton Corporation to integrate and co-develop new charging technologies, and our projected revenue for the third quarter of fiscal year 2026. 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, increased tariffs 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, integrate or partner with other companies, products or technologies in a successful manner such as our integration efforts with Eaton Corporation; our dependence on widespread acceptance and adoption of EVs, including any delays or modifications to auto manufacturers' plans and strategies to transition to predominately manufacture EVs and any corresponding decreased demand for installation of charging stations; our current dependence on sales of charging stations for the majority of our revenues; overall demand for EV charging and the potential for reduced demand for EVs if governmental policies, 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 state, federal and local charging infrastructure programs in accordance with the respective terms of such program in order to validly secure and obtain awarded funding and win additional 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 such as our new AC and Express DC fast charging product architecture featuring bidirectional charging, inventory obsolescence, component shortages and related expense increases; the ability or success of our new AC and Express DC fast charging product architecture to result in an increased demand for charging products by commercial, residential and fleet charging customers; 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-Q filed with the Securities and Exchange Commission (the “SEC”) on June 6, 2025, 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 ChargePoint 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, amortization expense of acquired intangible assets, non-cash charges related to tax liabilities and litigation settlements, including associated non-recurring legal expenses and professional service fees.

Non-GAAP Net Loss. ChargePoint defines non-GAAP net loss as net loss excluding stock-based compensation expense, amortization expense of acquired intangible assets, non-cash charges related to tax liabilities and litigation settlements, including associated non-recurring legal expenses and professional service fees. 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, amortization expense of acquired intangible assets, non-cash charges related to tax liabilities and litigation settlements, including associated non-recurring legal expenses and professional service fees, 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

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Investor Relations
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.