ChargePoint Reports Third Quarter Fiscal Year 2026 Financial Results

• Revenue grew 6% year-over-year to $106 million, above top end of the guidance range
• Subscription revenue grew 15% year-over-year to $42 million
• GAAP gross margin of 31% and non-GAAP gross margin remains at a record high of 33%
• Announces reduction of debt by $172 million, more than 50 percent, post quarter end

 

CAMPBELL, Calif.--(BUSINESS WIRE)-- ChargePoint Holdings, Inc. (NYSE:CHPT) (“ChargePoint”), a global leader in electric vehicle (EV) charging solutions, today reported results for its third quarter of fiscal year 2026 ended October 31, 2025.

"ChargePoint’s third quarter results mark a return to growth, with revenue exceeding expectations,” said Rick Wilmer, CEO at ChargePoint. “In November, we further strengthened our financial foundation by consummating a successful debt exchange and our ongoing innovation and strategic partnerships, especially with Eaton, position us to accelerate growth and lead the future of e-mobility. We remain committed to delivering value for our customers and shareholders as we execute on our three-year plan and advance the industry.”

Third Quarter Fiscal 2026 Financial Overview

• Revenue. Third quarter revenue was $105.7 million, up 6% from $99.6 million in the prior year’s same quarter. Networked charging systems revenue for the third quarter was $56.4 million, up 7% from $52.7 million in the prior year’s same quarter. Subscription revenue was $42.0 million, up 15% from $36.4 million in the prior year’s same quarter.
• Gross Margin. Third quarter GAAP gross margin was 31% as compared to 23% 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. Third quarter GAAP operating expenses were $76.8 million, down 16% from $91.0 million in the prior year's same quarter. Non-GAAP operating expenses were $57.5 million, down 2% from $58.6 million in the prior year's same quarter.
• Net Income/Loss. Third quarter GAAP net loss was $52.5 million, down 32% from $77.6 million in the prior year's same quarter. Additionally, non-GAAP pre-tax net loss was $30.2 million, down 26% from $40.7 million in the prior year's same quarter and non-GAAP adjusted EBITDA loss was $19.4 million, down 32% from $28.6 million in the prior year's same quarter.
• Liquidity. As of October 31, 2025, cash and cash equivalents on the balance sheet was $180.9 million.
• Shares Outstanding. As of October 31, 2025, the Company had approximately 24 million shares of common stock outstanding.

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

Business Highlights

• In November 2025, ChargePoint strengthened its balance sheet through a significant debt reduction, resulting in a near term reduction of its total outstanding debt by $172 million, or more than 50%.
• ChargePoint released the new ChargePoint Platform, its next-generation flexible software solution designed to provide real-time insights, monitor station performance, adjust pricing, and respond to customer needs.
• ChargePoint was awarded a Sourcewell cooperative purchasing contract to provide EV charging solutions to public agencies in the U.S. and Canada, representing ChargePoint’s third consecutive agreement with Sourcewell, dating back to 2017.

Fourth Quarter of Fiscal 2026 Guidance

For the fourth fiscal quarter ending January 31, 2026, ChargePoint expects revenue of $100 million to $110 million.

Conference Call Information

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

A live webcast of the conference call will be available at https://events.q4inc.com/attendee/848693269. 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 has established itself as the leader in electric vehicle (EV) charging innovation since its inception in 2007, long before EVs became widely available. The company provides comprehensive solutions tailored to the entire EV ecosystem, from the grid to the dashboard of the vehicle. The company serves EV drivers, charging station owners, vehicle manufacturers, and similar types of stakeholders. With a commitment to accessibility and reliability, ChargePoint’s extensive portfolio of software, hardware, and services ensures a seamless charging experience for drivers across North America and Europe. ChargePoint empowers every driver in need of charging access, connecting them to over 1.3 million public and private charging ports worldwide. ChargePoint has facilitated the powering of more than 16 billion electric miles, underscoring its dedication to reducing greenhouse gas emissions and electrifying the future of transportation. For further information, please visit the ChargePoint pressroom or the ChargePoint Investor Relations site. For media inquiries, contact the ChargePoint press office.

Forward-Looking Statements

This press release contains forward-looking statements that involve risks, uncertainties, and assumptions including statements regarding our projected revenue for the fourth 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 partnership 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 September 8, 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, amortization expense of acquired intangible assets and restructuring costs for severances and employment-related termination costs, and facility and other contract terminations. 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, restructuring costs for severances and employment-related termination costs, and facility and other contract terminations, and 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, restructuring costs for severances and employment-related termination costs, and facility and other contract terminations, and 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, restructuring costs for severances and employment-related termination costs, and facility and other contract terminations, 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

ChargePoint Holdings, Inc.
PRELIMINARY CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts; unaudited)
	Three Months Ended								Nine Months Ended
	October 31,								October 31,
		2025				2024				2025				2024
Revenue
Networked Charging Systems	$	56,389			$	52,662			$	158,869			$	182,182
Subscriptions		42,004				36,417				119,920				106,053
Other		7,281				10,533				23,115				26,959
Total revenue		105,674				99,612				301,904				315,194
Cost of revenue
Networked Charging Systems		51,696				52,852				146,826				173,152
Subscriptions		15,650				17,512				46,550				53,812
Other		5,842				6,462				17,328				16,249
Total cost of revenue		73,188				76,826				210,704				243,213
Gross profit		32,486				22,786				91,200				71,981
Operating expenses
Research and development		34,675				38,299				104,664				110,861
Sales and marketing		24,500				34,678				75,725				106,376
General and administrative		17,646				17,975				67,963				52,794
Total operating expenses		76,821				90,952				248,352				270,031
Loss from operations		(44,335	)			(68,166	)			(157,152	)			(198,050	)
Interest income		1,096				1,604				3,392				6,930
Interest expense		(8,061	)			(9,315	)			(21,346	)			(22,486	)
Other income (expense), net		(285	)			(202	)			2,005				(1,090	)
Net loss before income taxes		(51,585	)			(76,079	)			(173,101	)			(214,696	)
Provision for income taxes		894				1,511				2,678				3,567
Net loss	$	(52,479	)		$	(77,590	)		$	(175,779	)		$	(218,263	)
Net loss per share, basic and diluted	$	(2.23	)		$	(3.56	)		$	(7.57	)		$	(10.18	)
Weighted average shares outstanding, basic and diluted		23,501,303				21,766,572				23,219,611				21,437,887

ChargePoint Holdings, Inc.
PRELIMINARY CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, unaudited)
	October 31, 2025				January 31, 2025
Assets
Current assets:
Cash and cash equivalents	$	180,514			$	224,571
Restricted cash		400				400
Accounts receivable, net		97,141				95,906
Inventories		212,209				209,262
Prepaid expenses and other current assets		25,865				36,435
Total current assets		516,129				566,574
Property and equipment, net		27,010				35,361
Intangible assets, net		62,588				66,175
Operating lease right-of-use assets		12,280				14,680
Goodwill		224,131				207,540
Other assets		5,895				7,845
Total assets	$	848,033			$	898,175
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$	69,269			$	64,050
Accrued and other current liabilities		138,498				124,679
Deferred revenue		117,752				105,017
Total current liabilities		325,519				293,746
Deferred revenue, noncurrent		132,921				134,198
Debt, noncurrent		321,769				297,092
Operating lease liabilities		11,963				15,267
Deferred tax liabilities		12,091				12,036
Other long-term liabilities		5,387				8,365
Total liabilities		809,650				760,704
Stockholders' equity:
Common stock		2				2
Additional paid-in capital		2,106,885				2,054,340
Accumulated other comprehensive loss		(1,287	)			(25,433	)
Accumulated deficit		(2,067,217	)			(1,891,438	)
Total stockholders' equity		38,383				137,471
Total liabilities and stockholders' equity	$	848,033			$	898,175

ChargePoint Holdings, Inc.
PRELIMINARY CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands, unaudited)
	Nine Months Ended
	October 31,
		2025				2024
Cash flows from operating activities
Net loss	$	(175,779	)		$	(218,263	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		20,569				22,205
Non-cash operating lease cost		2,689				2,700
Stock-based compensation		51,534				61,083
Amortization of deferred contract acquisition costs		2,510				2,388
Paid-in-kind non-cash interest expense		20,076				12,750
Foreign currency transaction (gain) loss		(4,082	)			733
Reserves and other		5,296				17,104
Changes in operating assets and liabilities:
Accounts receivable, net		1,335				6,267
Inventories		6,252				(24,207	)
Prepaid expenses and other assets		7,762				(6,250	)
Accounts payable, operating lease liabilities, and accrued and other liabilities		(8,503	)			(26,024	)
Deferred revenue		8,733				5,249
Net cash used in operating activities		(61,608	)			(144,265	)
Cash flows from investing activities
Purchases of property and equipment		(3,420	)			(10,136	)
Net cash used in investing activities		(3,420	)			(10,136	)
Cash flows from financing activities
Proceeds from the issuance of common stock under employee equity plans, net of tax withholding		2,050				7,742
Proceeds from issuance of common stock in connection with ATM offerings, net of issuance costs		—				2,970
Change in driver funds and amounts due to customers		16,099				5,681
Other financing activities		(59	)			—
Net cash provided by financing activities		18,090				16,393
Effect of exchange rate changes on cash, cash equivalents, and restricted cash		2,881				7
Net decrease in cash, cash equivalents, and restricted cash		(44,057	)			(138,001	)
Cash, cash equivalents, and restricted cash at beginning of period		224,971				357,810
Cash, cash equivalents, and restricted cash at end of period	$	180,914			$	219,809

ChargePoint Holdings, Inc.
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
(In thousands, unaudited)
		Three Months Ended October 31, 2025							Three Months Ended October 31, 2024							Nine Months Ended October 31, 2025							Nine Months Ended October 31, 2024
Cost of Revenue:
GAAP cost of revenue (as a percentage of revenue)		$	73,188			69	%		$	76,826			77	%		$	210,704			70	%		$	243,213			77	%
Stock-based compensation expense			(1,222	)						(1,260	)						(3,696	)						(3,870	)
Amortization of intangible assets			(803	)						(774	)						(2,365	)						(2,301	)
Restructuring costs (1)			—							(961	)						—							(961	)
Non-GAAP cost of revenue (as a percentage of revenue)		$	71,163			67	%		$	73,831			74	%		$	204,643			68	%		$	236,081			75	%
Gross Profit:
GAAP gross profit (gross margin as a percentage of revenue)		$	32,486			31	%		$	22,786			23	%		$	91,200			30	%		$	71,981			23	%
Stock-based compensation expense			1,222							1,260							3,696							3,870
Amortization of intangible assets			803							774							2,365							2,301
Restructuring costs (1)			—							961							—							961
Non-GAAP gross profit (gross margin as a percentage of revenue)		$	34,511			33	%		$	25,781			26	%		$	97,261			32	%		$	79,113			25	%
Operating Expenses:
GAAP research and development (as a percentage of revenue)		$	34,675			33	%		$	38,299			38	%		$	104,664			35	%		$	110,861			35	%
Stock-based compensation expense			(7,540	)						(9,831	)						(25,328	)						(28,864	)
Restructuring costs (1)			—							(2,867	)						—							(2,867	)
Non-GAAP research and development (as a percentage of revenue)		$	27,135			26	%		$	25,601			26	%		$	79,336			26	%		$	79,130			25	%
GAAP sales and marketing (as a percentage of revenue)		$	24,500			23	%		$	34,678			35	%		$	75,725			25	%		$	106,376			34	%
Stock-based compensation expense			(2,546	)						(4,518	)						(8,501	)						(14,422	)
Amortization of intangible assets			(2,410	)						(2,304	)						(7,067	)						(6,829	)
Restructuring costs (1)			—							(5,067	)						—							(5,067	)
Non-GAAP sales and marketing (as a percentage of revenue)		$	19,544			18	%		$	22,789			23	%		$	60,157			20	%		$	80,058			25	%
GAAP general and administrative (as a percentage of revenue)		$	17,646			17	%		$	17,975			18	%		$	67,963			23	%		$	52,794			17	%
Stock-based compensation expense			(4,147	)						(5,107	)						(14,009	)						(13,927	)
Restructuring costs (1)			—							(933	)						—							(933	)
Other adjustments (2)			(2,716	)						(1,728	)						(20,736	)						(5,729	)
Non-GAAP general and administrative (as a percentage of revenue)		$	10,783			10	%		$	10,207			10	%		$	33,218			11	%		$	32,205			10	%
GAAP Operating Expenses (as a percentage of revenue)		$	76,821			73	%		$	90,952			91	%		$	248,352			82	%		$	270,031			86	%
Stock-based compensation expense			(14,233	)						(19,456	)						(47,838	)						(57,213	)
Amortization of intangible assets			(2,410	)						(2,304	)						(7,067	)						(6,829	)
Restructuring costs (1)			—							(8,867	)						—							(8,867	)
Other adjustments (2)			(2,716	)						(1,728	)						(20,736	)						(5,729	)
Non-GAAP Operating Expenses (as a percentage of revenue)		$	57,462			54	%		$	58,597			59	%		$	172,711			57	%		$	191,393			61	%
Net Loss:
GAAP net loss (as a percentage of revenue)		$	(52,479	)		(50	)%		$	(77,590	)		(78	)%		$	(175,779	)		(58	)%		$	(218,263	)		(69	)%
Stock-based compensation expense			15,455							20,716							51,534							61,083
Amortization of intangible assets			3,213							3,078							9,432							9,130
Restructuring costs (1)			—							9,828							—							9,828
Other adjustments (2)			2,716							1,728							20,736							5,729
Non-GAAP net loss (as a percentage of revenue)		$	(31,095	)		(29	)%		$	(42,240	)		(42	)%		$	(94,077	)		(31	)%		$	(132,493	)		(42	)%
Provision for income taxes			894							1,511							2,678							3,567
Non-GAAP pre-tax net loss (as a percentage of revenue)		$	(30,201	)		(29	)%		$	(40,729	)		(41	)%		$	(91,399	)		(30	)%		$	(128,926	)		(41	)%
Depreciation			3,502							4,230							11,137							13,074
Interest income			(1,096	)						(1,604	)						(3,392	)						(6,930	)
Interest expense			8,061							9,315							21,346							22,486
Other expense (income), net			285							202							(2,005	)						1,090
Non-GAAP Adjusted EBITDA Loss (as a percentage of revenue)		$	(19,449	)		(18	)%		$	(28,586	)		(29	)%		$	(64,313	)		(21	)%		$	(99,206	)		(31	)%

(1)		Consists of restructuring costs for severances and employment-related termination costs, and facility and other contract terminations.
(2)		Consists of non-cash charges related to tax liabilities and litigation settlements, including associated non-recurring legal expenses and professional service fees.

 

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Investor Relations

investors@chargepoint.com

Press

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Vice President, Communications

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AJ.Gosselin@chargepoint.com

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Source: ChargePoint Holdings, Inc.