On June 5, 2024, ChargePoint Holdings, Inc., a leading electric vehicle (EV) charging network provider, released its financial results for the first quarter of fiscal year 2025, which ended on April 30, 2024. The company reported a revenue of $107 million, a decrease of 18% from the previous year's quarter. Despite the decline in networked charging systems revenue, which fell 34% to $65.4 million, subscription revenue grew by 27% to $33 million. ChargePoint's GAAP gross margin was 22%, slightly down from 23% in the same quarter of the previous year, while non-GAAP gross margin was 24%, down from 25%. The company also saw a reduction in operating expenses, with GAAP operating expenses decreasing by 18% to $90.7 million and non-GAAP operating expenses down by 22% to $66.4 million. The GAAP net loss improved by 10% to...Show More

On June 5, 2024, ChargePoint Holdings, Inc., a leading electric vehicle (EV) charging network provider, released its financial results for the first quarter of fiscal year 2025, which ended on April 30, 2024. The company reported a revenue of $107 million, a decrease of 18% from the previous year's quarter. Despite the decline in networked charging systems revenue, which fell 34% to $65.4 million, subscription revenue grew by 27% to $33 million. ChargePoint's GAAP gross margin was 22%, slightly down from 23% in the same quarter of the previous year, while non-GAAP gross margin was 24%, down from 25%. The company also saw a reduction in operating expenses, with GAAP operating expenses decreasing by 18% to $90.7 million and non-GAAP operating expenses down by 22% to $66.4 million. The GAAP net loss improved by 10% to $71.8 million, and the non-GAAP Adjusted EBITDA loss improved by 25% year over year. ChargePoint ended the quarter with $292.3 million in cash, cash equivalents, and restricted cash, and has a $150 million revolving credit facility that remains undrawn. The company has no debt maturities until 2028 and had approximately 425 million shares of common stock outstanding as of April 30, 2024. ChargePoint also provided guidance for the second quarter of fiscal 2025, expecting revenue between $108 to $118 million, and reaffirmed its goal to achieve positive non-GAAP Adjusted EBITDA by the fourth quarter of fiscal year 2025.