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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. – December 4, 2025 – 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.

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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.
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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.
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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
Contacts
Investor Relations
investors@chargepoint.com
Press
John Paolo Canton
Vice President, Communications
JP.Canton@chargepoint.com

AJ Gosselin
Director, Corporate Communications
AJ.Gosselin@chargepoint.com
media@chargepoint.com
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ChargePoint Holdings, Inc.
PRELIMINARY CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts; unaudited)
 
 Three Months EndedNine Months Ended
October 31,October 31,
 2025202420252024
Revenue
Networked Charging Systems$56,389 $52,662 $158,869 $182,182 
Subscriptions42,004 36,417 119,920 106,053 
Other7,281 10,533 23,115 26,959 
Total revenue105,674 99,612 301,904 315,194 
Cost of revenue
Networked Charging Systems51,696 52,852 146,826 173,152 
Subscriptions15,650 17,512 46,550 53,812 
Other5,842 6,462 17,328 16,249 
Total cost of revenue73,188 76,826 210,704 243,213 
Gross profit32,486 22,786 91,200 71,981 
Operating expenses
Research and development34,675 38,299 104,664 110,861 
Sales and marketing24,500 34,678 75,725 106,376 
General and administrative17,646 17,975 67,963 52,794 
Total operating expenses76,821 90,952 248,352 270,031 
Loss from operations(44,335)(68,166)(157,152)(198,050)
Interest income1,096 1,604 3,392 6,930 
Interest expense(8,061)(9,315)(21,346)(22,486)
Other income (expense), net(285)(202)2,005 (1,090)
Net loss before income taxes(51,585)(76,079)(173,101)(214,696)
Provision for income taxes894 1,511 2,678 3,567 
Net loss$(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 diluted23,501,303 21,766,572 23,219,611 21,437,887 
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ChargePoint Holdings, Inc.
PRELIMINARY CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, unaudited)
 
October 31, 2025January 31, 2025
Assets
Current assets:
Cash and cash equivalents$180,514 $224,571 
Restricted cash400 400 
Accounts receivable, net97,141 95,906 
Inventories212,209 209,262 
Prepaid expenses and other current assets25,865 36,435 
Total current assets516,129 566,574 
Property and equipment, net27,010 35,361 
Intangible assets, net62,588 66,175 
Operating lease right-of-use assets12,280 14,680 
Goodwill224,131 207,540 
Other assets5,895 7,845 
Total assets$848,033 $898,175 
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable$69,269 $64,050 
Accrued and other current liabilities138,498 124,679 
Deferred revenue117,752 105,017 
Total current liabilities325,519 293,746 
Deferred revenue, noncurrent132,921 134,198 
Debt, noncurrent321,769 297,092 
Operating lease liabilities11,963 15,267 
Deferred tax liabilities12,091 12,036 
Other long-term liabilities5,387 8,365 
Total liabilities809,650 760,704 
Stockholders' equity:
Common stock2 2 
Additional paid-in capital2,106,885 2,054,340 
Accumulated other comprehensive loss(1,287)(25,433)
Accumulated deficit(2,067,217)(1,891,438)
Total stockholders' equity38,383 137,471 
Total liabilities and stockholders' equity$848,033 $898,175 
 

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ChargePoint Holdings, Inc.
PRELIMINARY CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands, unaudited)
 
 Nine Months Ended
October 31,
 20252024
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 amortization20,569 22,205 
Non-cash operating lease cost2,689 2,700 
Stock-based compensation51,534 61,083 
Amortization of deferred contract acquisition costs2,510 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, net1,335 6,267 
Inventories6,252 (24,207)
Prepaid expenses and other assets7,762 (6,250)
Accounts payable, operating lease liabilities, and accrued and other liabilities(8,503)(26,024)
Deferred revenue8,733 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 withholding2,050 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 customers16,099 5,681 
Other financing activities(59)— 
Net cash provided by financing activities18,090 16,393 
Effect of exchange rate changes on cash, cash equivalents, and restricted cash2,881 7 
Net decrease in cash, cash equivalents, and restricted cash
(44,057)(138,001)
Cash, cash equivalents, and restricted cash at beginning of period224,971 357,810 
Cash, cash equivalents, and restricted cash at end of period$180,914 $219,809 
 


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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 expense1,222 1,260 3,696 3,870 
Amortization of intangible assets803 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%
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Three Months Ended
October 31, 2025
Three Months Ended
October 31, 2024
Nine
Months Ended
October 31, 2025
Nine
Months Ended
October 31, 2024
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)%$(218,263)(69)%
Stock-based compensation expense15,455 20,716 51,534 61,083 
Amortization of intangible assets3,213 3,078 9,432 9,130 
Restructuring costs (1)— 9,828 — 9,828 
Other adjustments (2)
2,716 1,728 20,736 5,729 
Non-GAAP net loss (as a percentage of revenue)$(31,095)(29)%$(42,240)(42)%$(94,077)(31)%$(132,493)(42)%
Provision for income taxes894 1,511 2,678 3,567 
Non-GAAP pre-tax net loss (as a percentage of revenue)$(30,201)(29)%$(40,729)(41)%$(91,399)(30)%$(128,926)(41)%
Depreciation3,502 4,230 11,137 13,074 
Interest income(1,096)(1,604)(3,392)(6,930)
Interest expense8,061 9,315 21,346 22,486 
Other expense (income), net285 202 (2,005)1,090 
Non-GAAP Adjusted EBITDA Loss (as a percentage of revenue)$(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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