$CHPT (+5.41%) | ChargePoint Holdings Q3 Earnings Highlights:

🔹 EPS: ($0.18) (Est. ($0.17)) 🔴

🔹 Revenue: $100M (Est. $93.27M) 🟢; DOWN -10% YoY

🔹 Non-GAAP Gross Margin: 26% (vs. -18% YoY)

FY25 Guidance:

🔹 The company is focused on returning to growth and targeting positive non-GAAP Adjusted EBITDA in a quarter during FY2026.

Q4 Guidance:

🔹 Revenue: $95M-$105M

Q3 Revenue:

🔹 Networked Charging Systems: $52.7M (DOWN -29% YoY)

🔹 Subscription: $36.4M (UP +19% YoY)

Profitability Metrics:

🔹 GAAP Operating Expenses: $91M (DOWN -30% YoY)

🔹 Non-GAAP Operating Expenses: $58.6M (DOWN -28% YoY)

🔹 GAAP Net Loss: ($77.6M) (Improved from ($158.2M) YoY)

🔹 Non-GAAP Pre-Tax Net Loss: ($40.7M) (Improved from ($106.3M) YoY)

🔹 Non-GAAP Adjusted EBITDA Loss: ($28.6M) (Improved from ($97.4M) YoY)

Liquidity:

🔹 Cash and Cash Equivalents: $219.8M as of October 31, 2024

🔹 Revolving Credit Facility: $150M, currently undrawn

🔹 No Debt Maturities Until 2028

Business Highlights:

🔸 Appointed David Vice as Chief Revenue Officer to drive revenue growth.

🔸 Introduced the CPF50, an affordable Level 2 charging solution for fleets.

🔸 Launched the ChargePoint Essential Cloud Plan to support small businesses and multi-family housing with accessible charging solutions.

CEO Commentary:

🔸 "We are encouraged by record EV sales in the industry and see strong network utilization driving demand for charging infrastructure. Our Q3 results exceeded expectations, demonstrating our operational excellence and rigorous cash management." – Rick Wilmer, CEO