On September 2, ChargePoint Holdings, Inc (NYSE:CHPT) reported stronger-than-expected results for the second quarter of fiscal 2027. Revenue and the company's loss per share both came in better than Wall Street expectations and the company also reported record non-GAAP gross margin while also highlighting continued progress across its charging business.
Q2 revenue increased 18% year-over-year to $116.1 million, exceeding the $105.2 million ****** yst estimate. ChargePoint Holdings, Inc (NYSE:CHPT) reported an adjusted loss of 35 cents per share, compared with ****** ysts' expectations for a loss of 85 cents per share, according to average estimates compiled by LSEG.
The company also benefited from higher North American home-charging sales, which helped push revenue above expectations. Networked charging systems revenue was up 25% year-over-year as it reached $62.9 million. Subscription revenue increased 10% to $43.7 million. Additionally, the company reported a 78% improvement in its non-GAAP adjusted EBITDA loss, which narrowed sharply to $4.8 million from $22.1 million in the same quarter last year.
ChargePoint Holdings, Inc (NYSE:CHPT) expanded its commercial relationships during the quarter as it extended its long-standing partnership with Mercedes-Benz through a new agreement covering charging solutions for fleet operators in the UK and Germany. The company also announced agreements with Optimus Energy Solutions and Onvo that are expected to add hundreds of new charging ports across the eastern US.
The company also appointed automotive industry veteran John Saffrett as Executive Vice President and Managing Director for Europe, where he will be overseeing sales, customer relationships, partnerships, and market expansion.
#revenue #holdings #chpt
Q2 revenue increased 18% year-over-year to $116.1 million, exceeding the $105.2 million ****** yst estimate. ChargePoint Holdings, Inc (NYSE:CHPT) reported an adjusted loss of 35 cents per share, compared with ****** ysts' expectations for a loss of 85 cents per share, according to average estimates compiled by LSEG.
The company also benefited from higher North American home-charging sales, which helped push revenue above expectations. Networked charging systems revenue was up 25% year-over-year as it reached $62.9 million. Subscription revenue increased 10% to $43.7 million. Additionally, the company reported a 78% improvement in its non-GAAP adjusted EBITDA loss, which narrowed sharply to $4.8 million from $22.1 million in the same quarter last year.
ChargePoint Holdings, Inc (NYSE:CHPT) expanded its commercial relationships during the quarter as it extended its long-standing partnership with Mercedes-Benz through a new agreement covering charging solutions for fleet operators in the UK and Germany. The company also announced agreements with Optimus Energy Solutions and Onvo that are expected to add hundreds of new charging ports across the eastern US.
The company also appointed automotive industry veteran John Saffrett as Executive Vice President and Managing Director for Europe, where he will be overseeing sales, customer relationships, partnerships, and market expansion.
#revenue #holdings #chpt
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