ChargePoint Holdings Reports Q2 Revenue Beat and Record Gross Margin as CHPT Stock Surges 74%
ChargePoint Holdings (NYSE: CHPT) posted fiscal second-quarter revenue of $116.1 million, up 18% year over year and ahead of the roughly $105 million analysts expected, and Thursday's session has repriced the stock…
Key takeaways
- ChargePoint reported fiscal Q2 revenue of $116.1 million, up 18% year over year and ahead of the roughly $105 million analysts expected.
- CHPT stock surged 74% to $9.05 Thursday afternoon after the company beat consensus on revenue, adjusted EBITDA, and per-share loss.
- Non-GAAP gross margin reached a company record of 38%, including a one-time $4.2 million tariff refund that lowers the underlying margin to 35%.
- The adjusted EBITDA loss narrowed to $4.8 million, a 78% improvement from a year earlier and well below the $16.4 million loss analysts forecast.
- ChargePoint guided fiscal Q3 revenue to $105 million–$115 million, a range that brackets the roughly $109 million consensus without clearing it.
ChargePoint Holdings (NYSE: CHPT) posted fiscal second-quarter revenue of $116.1 million, up 18% year over year and ahead of the roughly $105 million analysts expected, and Thursday's session has repriced the stock sharply higher. Shares were up 74% to $9.05 Thursday afternoon after the company cleared consensus on adjusted EBITDA and per-share loss in the same print.
The positioning backdrop matters here. No short interest data is available to confirm whether a covering dynamic is amplifying the move, and the size of Thursday's reprice runs well ahead of what the reported figures alone account for. ChargePoint closed down 22% year to date and down 6% over the past month through Wednesday. Even after the rally, the stock trades below its 52-week high of $12.61.
The numbers
The adjusted EBITDA loss narrowed to $4.8 million, an improvement of 78% from a year earlier and well clear of the $16.4 million loss analysts had forecast. Adjusted loss per share came in at $1.35 against a consensus forecast of $1.60. Inside the quarter, Networked Charging Systems revenue grew 25% year over year to $62.9 million and Subscription revenue rose 10% to $43.7 million. The company held $95.7 million in cash, cash equivalents and restricted cash at quarter-end, with management flagging essentially zero cash burn during the period.
Non-GAAP gross margin reached 38%, a record for the company on that measure and 500 basis points above the year-ago quarter. The figure included a one-time tariff refund of $4.2 million. Strip that out, and the underlying margin prints at 35%, still a meaningful step-up from a year earlier.
What to watch
ChargePoint guided fiscal third-quarter revenue to a range of $105 million to $115 million against the roughly $109 million analysts expected. That range brackets consensus without clearing it, so the forward number is a neutral read at best. The gap between a 74% session and guidance that merely meets expectations is the tension investors carry into the next print.
Peers Blink Charging (NASDAQ: BLNK) and EVgo (NASDAQ: EVGO) carried no same-day developments of their own, leaving no clean read-across to test whether Thursday's enthusiasm extends past ChargePoint specifically. The Global X Autonomous & Electric Vehicles ETF (NASDAQ: DRIV) covers the broader mobility theme but skews toward automakers, semiconductors and battery names rather than charging-network operators, further limiting any sector proxy.
The next data point is ChargePoint's fiscal third-quarter result, where traders will be watching whether early access shipments of Express Solo and the extended Mercedes-Benz fleet partnership in the UK and Germany translate into a stronger revenue trajectory. The 38% gross margin that headlined Thursday's reaction includes a tariff refund ChargePoint has not flagged as repeating.
Related reading
Filed via finance.yahoo.com