Chargepoint Holdings Inc Stock Price, News & Analysis

ChargePoint Holdings (NYSE:CHPT) will release its financial results for Q4 and full year 2023, concluding on January 31, 2023, on March 2, 2023, after market close. A conference call will be held at 1:30 PM PT (4:30 PM ET) on the same day to discuss these results. The call will be accessible via a live webcast from the investor relations section of ChargePoint's website. ChargePoint has established one of the largest EV charging networks, facilitating over 145 million charging sessions since its inception.

Stem (NYSE: STEM) and ChargePoint (NYSE: CHPT) have announced a joint eMobility offering aimed at enhancing electric vehicle (EV) charging infrastructure. The solution will leverage Stem’s AI-driven Athena platform and ChargePoint’s Express Plus management software to provide cost savings and operational efficiency. The collaboration supports access to federal and state funding, potentially offsetting up to 80% of project costs through the National Electric Vehicle Infrastructure (NEVI) Program, which allocates $5 billion over five years. The joint offering is predicted to greatly enhance the economic, environmental, and resilience aspects of EV charging stations.

ChargePoint (NYSE: CHPT) and Stem (NYSE: STEM) have announced a partnership to enhance EV charging and battery storage solutions. This agreement aims to improve economic outcomes and energy resilience for EV site hosts, particularly in reducing operational costs and meeting ESG goals. ChargePoint will assess EV charging demands and eligibility for incentive programs, while Stem will integrate its AI-driven energy management platform, Athena®, with ChargePoint's Express Plus fast charging system. The partnership aligns with federal funding initiatives like NEVI, aimed at expanding EV infrastructure across the U.S.

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.