Non-GAAP Pre-Tax Net Loss: $56.4m (increased from $47.3m Y/Y) ![]() GAAP Net Loss: $84.5m (increased from $69.4m Y/Y) Non-GAAP Gross Margin: 20% (down from 27% Y/Y) GAAP Gross Margin: 18% (down from 25% Y/Y due to supply chain disruptions Subscription Revenue: $21.7m (up 62% Y/Y) Networked Charging Systems Revenue: $97.6m (up 105% Y/Y) Production constraints led to this shortfall, missing expectations. The company met the lower end of its guidance target with $125m in revenue. Q3 HighlightsĬhargePoint reported its Q3 earnings results on December 6 and returned another record quarter. How Does ChargePoint Make Money?ĬhargePoint makes money selling networked charging systems and software subscriptions. More than 133 million charging sessions have been delivered to date, with drivers plugging into the ChargePoint network on average every second.ĬhargePoint went public via a business combination with Switchback Energy Acquisition Corporation (a publicly traded special purpose acquisition company - SPAC). Today, one ChargePoint account provides access to hundreds of thousands of places to charge in North America and Europe. The ChargePoint cloud subscription platform and software-defined charging hardware are designed to include options for every charging scenario, from home and multifamily to the workplace, parking, hospitality, retail and transport fleets of all types. These customers, such as Volvo and Starbucks, rely on ChargePoint for upfront consultation, planning, build-out and ultimately, continued infrastructure optimization. And the company now counts 80% of the 2021 Fortune 50 as customers and 53% of the 2021 Fortune 500 as customers. Since 2007, ChargePoint has been committed to making it easy for businesses and drivers to go electric with one of the largest EV charging networks and a comprehensive portfolio of charging solutions available today.ĬhargePoint's roaming reach is now over 355,000 ports in North America and Europe. ChargePoint Holdings serves customers in North America and Europe. The company, through its subsidiaries, provides electric vehicle charging solutions that enable the electrification of mobility for all people and goods. ![]() What Is ChargePoint?ĬhargePoint is creating a new fueling network to move people and goods on electricity. Let's see if this is a worthwhile investment. The company just released its Q3 earnings. This means an investment in ChargePoint can act as an assessment of sentiment for the EV industry. Pasquale Romano, President and CEO of ChargePoint Holdings (CHPT)ĬhargePoint Holdings Inc ( NYSE: CHPT), a leading electric vehicle (EV) charging network, powers all kinds of electric vehicles, from passenger cars to delivery vans and buses. ![]() Our networked, asset-light business model continues to enable our growth as we strive to deliver improved margins and operating leverage. ChargePoint delivered another quarter of growth exceeding 90% year-over-year, as we continue to scale the business to meet strong demand for our solutions across North America and Europe,
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