ChargePoint Holdings Inc

Latest Results (07.08.2024):

Revenue

ChargePoint Holdings Inc. reported first quarter fiscal 2025 revenue of $107 million, which represents an 18% decrease from the $130 million reported in the same quarter of the previous year. The networked charging systems revenue for this quarter was $65.4 million, down 34% from $98.3 million in the prior year’s same quarter. However, subscription revenue saw a significant increase, reaching $33.4 million, up 27% from $26.4 million in the previous year's same quarter.

Gross Margin

For the first quarter of fiscal 2025, ChargePoint Holdings Inc. reported a GAAP gross margin of 22%, slightly down from 23% in the same quarter of the previous year. The non-GAAP gross margin was 24%, compared to 25% in the prior year's same quarter. These figures indicate a slight decline in profitability on a per-unit basis.

Operating Expenses

ChargePoint Holdings Inc. managed to reduce its operating expenses in the first quarter of fiscal 2025. GAAP operating expenses were $90.7 million, down 18% from $110.5 million in the prior year's same quarter. Non-GAAP operating expenses also saw a reduction, coming in at $66.4 million, down 22% from $85.2 million in the previous year's same quarter.

Net Income/Loss

ChargePoint Holdings Inc. reported a GAAP net loss of $71.8 million for the first quarter of fiscal 2025, which is a 10% improvement from the $79.4 million net loss in the same quarter of the previous year. The non-GAAP pre-tax net loss was $45.2 million, down 14% from $52.8 million in the prior year's same quarter. Additionally, the non-GAAP Adjusted EBITDA loss improved by 25%, coming in at $36.5 million compared to $48.9 million in the previous year's same quarter.

Liquidity

As of April 30, 2024, ChargePoint Holdings Inc. had cash, cash equivalents, and restricted cash totaling $292.3 million. The company also has a $150 million revolving credit facility that remains undrawn and no debt maturities until 2028. This strong liquidity position provides ChargePoint with the financial flexibility to continue its operations and growth initiatives.