The electric-vehicle charging company turned in mixed quarterly results and disappointing guidance.
ChargePoint's revenue continues to fall quarter after quarter. It is reducing its workforce and expects a double-digit drop in revenue in its third quarter.
ChargePoint Holdings Inc CHPT shares tanked in early trading on Thursday, after the company reported downbeat second-quarter sales.
CHPT plans to reduce its headcount by 15% to improve operational efficiency amid declining revenues.
ChargePoint's Q2 report was disastrous, missing revenue estimates and providing significantly lower guidance for the current period. The company continues to struggle with large losses, cash burn, and significant dilution, despite some improvement in operating losses. Management's focus on returning to revenue growth included a 15% headcount reduction, but the goal of positive non-GAAP adjusted EBITDA has been delayed to fiscal 2026.
Electric vehicle charging solutions provider ChargePoint reported less-than-stellar Q2/FY2025 results and issued Q3 guidance well below consensus expectations. Due to adverse market conditions, management no longer expects to achieve adjusted EBITDA profitability in the current fiscal year. Inventories are now expected to remain at elevated levels until at least the end of FY2025.
ChargePoint Holdings, Inc. (NYSE:CHPT ) Q2 2024 Earnings Conference Call September 4, 2025 4:30 PM ET Company Participants Patrick Hamer - VP of Capital Markets and IR Richard Wilmer - CEO Mansi Khetani - Interim CFO Conference Call Participants Colin Rusch - Oppenheimer Stephen Gengaro - Stifel William Peterson - JPMorgan Steven Fox - Fox Advisors LLC Mark Delaney - Goldman Sachs Christopher Dendrinos - RBC Capital Markets Operator Ladies and gentlemen, good afternoon. My name is Abby and I'll be your conference operator for today's call.
ChargePoint Holdings, Inc. (CHPT) came out with a quarterly loss of $0.10 per share versus the Zacks Consensus Estimate of a loss of $0.08. This compares to loss of $0.24 per share a year ago.
ChargePoint will cut its workforce by about 15%, or 250 jobs, in a reorganization of its operations.
The Zacks Consensus Estimate for CHPT's fiscal second-quarter loss per share and revenues is pegged at 8 cents and $114.15 million, respectively.
ChargePoint operates the largest EV charging system network in the U.S. However, it faces fierce competition from Tesla, which has more fast-charging ports. The company has struggled due to slow EV demand and continues to hemorrhage cash.
Electric Vehicle (EV) stocks have largely diverged this year, with Blink Charging (BLNK) and ChargePoint (CHPT) falling by over 46% and 20.5% this year while EVGo (EVGO) has risen by more than 25%.