ChargePoint Reports Second Quarter Fiscal Year 2025 Financial Results
-
Second quarter fiscal 2025 revenue of
$109 million - Second quarter fiscal 2025 GAAP gross margin of 24% and non-GAAP gross margin of 26%
-
Second quarter fiscal 2025 subscription revenue of
$36 million representing 21% year over year growth -
Second quarter fiscal 2025 GAAP operating expense of
$88 million and non-GAAP operating expense of$66 million , representing 29% and 25% year over year improvement -
ChargePoint $41 million reduction in annualized GAAP operating expenses and$38 million reduction in annualized non-GAAP operating expenses -
ChargePoint guides to third quarter fiscal 2025 revenue of$85 to$95 million
“ChargePoint continued to execute against its strategy and deliver results in line with our stated goals. Our second quarter revenue was within our stated guidance range and gross margin improved sequentially for the third consecutive quarter. Today, we have implemented an action plan to create efficiencies while reducing operating expenses,” said
Second Quarter Fiscal 2025 Financial Overview
-
Revenue. Second quarter revenue was
$108.5 million , down 28% from$150.5 million in the prior year’s same quarter. Networked charging systems revenue for the second quarter was$64.1 million , down 44% from$114.6 million in the prior year’s same quarter. Subscription revenue was$36.2 million , up 21% from$30.0 million in the prior year’s same quarter. -
Gross Margin. Second quarter GAAP gross margin was 24% as compared to 1% in the prior year's same quarter, and non-GAAP gross margin was 26% as compared to 3% in the prior year's same quarter, in both cases primarily due to
$28.0 million inventory impairment charge taken in the prior year to address legacy supply-chain related costs and supply overruns on a particular DC product. -
Operating Expenses. Second quarter GAAP operating expenses were
$88.3 million , down 29% from$124.5 million in the prior year's same quarter. Non-GAAP operating expenses were$66.4 million , down 25% from$88.9 million in the prior year's same quarter. -
Net Income/Loss. Second quarter GAAP net loss was
$68.9 million , down 45% from$125.3 million in the prior year's same quarter. Non-GAAP pre-tax net loss was$43.0 million , down 50% from$86.1 million in the prior year's same quarter, both reflecting the$28.0 million inventory impairment charge taken in the prior year. Non-GAAP Adjusted EBITDA Loss was$34.1 million , down 58% from$81.2 million in the prior year's same quarter. -
Liquidity. As of
July 31, 2024 , cash and cash equivalents on the balance sheet was$243.7 million .ChargePoint's $150 million revolving credit facility remains undrawn andChargePoint has no debt maturities until 2028. -
Shares Outstanding. As of
July 31, 2024 , the Company had approximately 431 million shares of common stock outstanding.
For reconciliation of GAAP and non-GAAP results, please see the tables below.
Business Highlights
-
ChargePoint and LG Electronics formed a strategic relationship leveraging each company’s technology and expertise for future innovations in EV charging. This may include commercial charging solutions, with areas under collaboration including LG's smart home solutions, home energy storage, and charging with out-of-home advertising. -
ChargePoint launchedOmni Port which aims to solve EV connector confusion by enabling drivers of all makes of EVs to charge in any parking space, regardless of connector type. -
ChargePoint extended its commitment to delivering world-class driver experiences with the introduction of a new AI-powered driver support tool to rapidly accelerate the diagnosis and repair of charging stations in the field.
Reorganization
Today,
Third Quarter and Fourth Quarter of Fiscal 2025 Guidance
For the third fiscal quarter ending
The Company is concentrating on returning to growth and streamlining operations to continue on its path to positive non-GAAP Adjusted EBITDA, which is now targeted during fiscal year 2026.
Conference Call Information
Investors may access the webcast, supplemental financial information and investor presentation at ChargePoint’s investor relations website (investors.chargepoint.com) under the “Events and Presentations” section. A replay will be available after the conclusion of the webcast and archived for one year.
About
Forward-Looking Statements
This press release contains forward-looking statements that involve risks, uncertainties, and assumptions including statements regarding the potential operating expenses savings and costs associated with our Reorganization, our projected revenue for the third quarter of fiscal year 2025 and our goal to achieve positive non-GAAP Adjusted EBITDA. 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, 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; our dependence on widespread acceptance and adoption of EVs, including auto manufacture's plans and strategies to transition to predominately manufacture EV and any corresponding increased demand for installation of charging stations; our current dependence on sales of charging stations for most of our revenues; overall demand for EV charging and the potential for reduced demand for EVs if governmental 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 National Electric Vehicle Infrastructure (NEVI) grant opportunities in accordance with the respective terms of the
Use of Non-GAAP Financial Measures
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).
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).
Non-GAAP Net Loss.
Non-GAAP Adjusted EBITDA Loss.
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
CHPT-IR
|
|||||||||||||||
PRELIMINARY CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS |
|||||||||||||||
(In thousands, except per share amounts; unaudited) |
|||||||||||||||
|
Three Months Ended
|
|
Six Months Ended
|
||||||||||||
|
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
Revenue |
|
|
|
|
|
|
|
||||||||
Networked charging systems |
$ |
64,146 |
|
|
$ |
114,574 |
|
|
$ |
129,520 |
|
|
$ |
212,894 |
|
Subscriptions |
|
36,191 |
|
|
|
30,011 |
|
|
|
69,636 |
|
|
|
56,376 |
|
Other |
|
8,202 |
|
|
|
5,909 |
|
|
|
16,426 |
|
|
|
11,253 |
|
Total revenue |
|
108,539 |
|
|
|
150,494 |
|
|
|
215,582 |
|
|
|
280,523 |
|
Cost of revenue |
|
|
|
|
|
|
|
||||||||
Networked charging systems |
|
59,234 |
|
|
|
126,961 |
|
|
|
120,300 |
|
|
|
207,883 |
|
Subscriptions |
|
18,558 |
|
|
|
18,692 |
|
|
|
36,300 |
|
|
|
33,497 |
|
Other |
|
5,162 |
|
|
|
3,716 |
|
|
|
9,787 |
|
|
|
7,483 |
|
Total cost of revenue |
|
82,954 |
|
|
|
149,369 |
|
|
|
166,387 |
|
|
|
248,863 |
|
Gross profit |
|
25,585 |
|
|
|
1,125 |
|
|
|
49,195 |
|
|
|
31,660 |
|
Operating expenses |
|
|
|
|
|
|
|
||||||||
Research and development |
|
36,510 |
|
|
|
59,642 |
|
|
|
72,562 |
|
|
|
109,039 |
|
Sales and marketing |
|
36,699 |
|
|
|
39,671 |
|
|
|
71,698 |
|
|
|
76,711 |
|
General and administrative |
|
15,122 |
|
|
|
25,144 |
|
|
|
34,819 |
|
|
|
49,164 |
|
Total operating expenses |
|
88,331 |
|
|
|
124,457 |
|
|
|
179,079 |
|
|
|
234,914 |
|
Loss from operations |
|
(62,746 |
) |
|
|
(123,332 |
) |
|
|
(129,884 |
) |
|
|
(203,254 |
) |
Interest income |
|
2,118 |
|
|
|
1,840 |
|
|
|
5,326 |
|
|
|
4,300 |
|
Interest expense |
|
(6,560 |
) |
|
|
(2,926 |
) |
|
|
(13,171 |
) |
|
|
(5,853 |
) |
Other income (expense), net |
|
(38 |
) |
|
|
68 |
|
|
|
(888 |
) |
|
|
642 |
|
Net loss before income taxes |
|
(67,226 |
) |
|
|
(124,350 |
) |
|
|
(138,617 |
) |
|
|
(204,165 |
) |
Provision for income taxes |
|
1,648 |
|
|
|
905 |
|
|
|
2,056 |
|
|
|
478 |
|
Net loss |
$ |
(68,874 |
) |
|
$ |
(125,255 |
) |
|
$ |
(140,673 |
) |
|
$ |
(204,643 |
) |
Net loss per share, basic and diluted |
$ |
(0.16 |
) |
|
$ |
(0.35 |
) |
|
$ |
(0.33 |
) |
|
$ |
(0.58 |
) |
Weighted average shares outstanding, basic and diluted |
|
427,532,688 |
|
|
|
355,876,807 |
|
|
|
425,434,765 |
|
|
|
353,008,473 |
|
|
|||||||
PRELIMINARY CONDENSED CONSOLIDATED BALANCE SHEETS |
|||||||
(In thousands, unaudited) |
|||||||
|
|
|
|
||||
Assets |
|
|
|
||||
Current assets: |
|
|
|
||||
Cash and cash equivalents |
$ |
243,263 |
|
|
$ |
327,410 |
|
Restricted cash |
|
400 |
|
|
|
30,400 |
|
Accounts receivable, net |
|
111,480 |
|
|
|
124,049 |
|
Inventories |
|
228,519 |
|
|
|
198,580 |
|
Prepaid expenses and other current assets |
|
69,249 |
|
|
|
62,244 |
|
Total current assets |
|
652,911 |
|
|
|
742,683 |
|
Property and equipment, net |
|
39,306 |
|
|
|
42,446 |
|
Intangible assets, net |
|
74,490 |
|
|
|
80,555 |
|
Operating lease right-of-use assets |
|
15,604 |
|
|
|
15,362 |
|
|
|
213,757 |
|
|
|
213,750 |
|
Other assets |
|
7,709 |
|
|
|
8,567 |
|
Total assets |
$ |
1,003,777 |
|
|
$ |
1,103,363 |
|
Liabilities and Stockholders' Equity |
|
|
|
||||
Current liabilities: |
|
|
|
||||
Accounts payable |
$ |
71,441 |
|
|
$ |
71,081 |
|
Accrued and other current liabilities |
|
146,679 |
|
|
|
159,104 |
|
Deferred revenue |
|
102,863 |
|
|
|
99,968 |
|
Total current liabilities |
|
320,983 |
|
|
|
330,153 |
|
Deferred revenue, noncurrent |
|
135,690 |
|
|
|
131,471 |
|
Debt, noncurrent |
|
285,675 |
|
|
|
283,704 |
|
Operating lease liabilities |
|
17,102 |
|
|
|
17,350 |
|
Deferred tax liabilities |
|
11,933 |
|
|
|
11,252 |
|
Other long-term liabilities |
|
1,504 |
|
|
|
1,757 |
|
Total liabilities |
|
772,887 |
|
|
|
775,687 |
|
Stockholders' equity: |
|
|
|
||||
Common stock |
|
43 |
|
|
|
42 |
|
Additional paid-in capital |
|
2,001,845 |
|
|
|
1,957,932 |
|
Accumulated other comprehensive loss |
|
(15,953 |
) |
|
|
(15,926 |
) |
Accumulated deficit |
|
(1,755,045 |
) |
|
|
(1,614,372 |
) |
Total stockholders' equity |
|
230,890 |
|
|
|
327,676 |
|
Total liabilities and stockholders' equity |
$ |
1,003,777 |
|
|
$ |
1,103,363 |
|
|
|||||||
PRELIMINARY CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS |
|||||||
(In thousands, unaudited) |
|||||||
|
Six Months Ended
|
||||||
|
|
2024 |
|
|
|
2023 |
|
Cash flows from operating activities |
|
|
|
||||
Net loss |
$ |
(140,673 |
) |
|
$ |
(204,643 |
) |
Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
|
||||
Depreciation and amortization |
|
14,896 |
|
|
|
14,018 |
|
Non-cash operating lease cost |
|
1,863 |
|
|
|
2,199 |
|
Stock-based compensation |
|
40,369 |
|
|
|
59,063 |
|
Amortization of deferred contract acquisition costs |
|
1,578 |
|
|
|
1,380 |
|
Inventory impairment |
|
— |
|
|
|
28,000 |
|
Reserves and other |
|
12,683 |
|
|
|
5,026 |
|
Changes in operating assets and liabilities: |
|
|
|
||||
Accounts receivable, net |
|
7,636 |
|
|
|
(40,562 |
) |
Inventories |
|
(28,429 |
) |
|
|
(97,906 |
) |
Prepaid expenses and other assets |
|
(8,160 |
) |
|
|
(12,365 |
) |
Accounts payable, operating lease liabilities, and accrued and other liabilities |
|
(22,624 |
) |
|
|
33,957 |
|
Deferred revenue |
|
7,155 |
|
|
|
21,231 |
|
Net cash used in operating activities |
|
(113,706 |
) |
|
|
(190,602 |
) |
Cash flows from investing activities |
|
|
|
||||
Purchases of property and equipment |
|
(7,301 |
) |
|
|
(9,877 |
) |
Maturities of investments |
|
— |
|
|
|
105,000 |
|
Net cash provided by (used in) investing activities |
|
(7,301 |
) |
|
|
95,123 |
|
Cash flows from financing activities |
|
|
|
||||
Debt issuance costs related to the revolving credit facility |
|
— |
|
|
|
(2,265 |
) |
Proceeds from the issuance of common stock under employee equity plans, net of tax withholding |
|
4,548 |
|
|
|
6,212 |
|
Proceeds from issuance of common stock in connection with ATM offerings, net of issuance costs |
|
— |
|
|
|
54,799 |
|
Change in driver funds and amounts due to customers |
|
2,378 |
|
|
|
8,839 |
|
Settlement of contingent earnout liability |
|
— |
|
|
|
(3,537 |
) |
Net cash provided by financing activities |
|
6,926 |
|
|
|
64,048 |
|
Effect of exchange rate changes on cash, cash equivalents, and restricted cash |
|
(66 |
) |
|
|
768 |
|
Net decrease in cash, cash equivalents, and restricted cash |
|
(114,147 |
) |
|
|
(30,663 |
) |
Cash, cash equivalents, and restricted cash at beginning of period |
|
357,810 |
|
|
|
294,562 |
|
Cash, cash equivalents, and restricted cash at end of period |
$ |
243,663 |
|
|
$ |
263,899 |
|
|
||||||||||||||||||||||||||||
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES |
||||||||||||||||||||||||||||
(In thousands, unaudited) |
||||||||||||||||||||||||||||
|
|
Three Months Ended
|
|
Three Months Ended
|
|
Six Months Ended
|
|
Six Months Ended
|
||||||||||||||||||||
Cost of Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
GAAP cost of revenue (as a percentage of revenue) |
|
$ |
82,954 |
|
|
76 |
% |
|
$ |
149,369 |
|
|
99 |
% |
|
$ |
166,387 |
|
|
77 |
% |
|
$ |
248,863 |
|
|
89 |
% |
Stock-based compensation expense |
|
|
(1,526 |
) |
|
|
|
|
(1,938 |
) |
|
|
|
|
(2,610 |
) |
|
|
|
|
(2,933 |
) |
|
|
||||
Amortization of intangible assets |
|
|
(764 |
) |
|
|
|
|
(766 |
) |
|
|
|
|
(1,526 |
) |
|
|
|
|
(1,532 |
) |
|
|
||||
Non-GAAP cost of revenue (as a percentage of revenue) |
|
$ |
80,664 |
|
|
74 |
% |
|
$ |
146,665 |
|
|
97 |
% |
|
$ |
162,251 |
|
|
75 |
% |
|
$ |
244,398 |
|
|
87 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Gross Profit: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
GAAP gross profit (gross margin as a percentage of revenue) |
|
$ |
25,585 |
|
|
24 |
% |
|
$ |
1,125 |
|
|
1 |
% |
|
$ |
49,195 |
|
|
23 |
% |
|
$ |
31,660 |
|
|
11 |
% |
Stock-based compensation expense |
|
|
1,526 |
|
|
|
|
|
1,938 |
|
|
|
|
|
2,610 |
|
|
|
|
|
2,933 |
|
|
|
||||
Amortization of Intangible Assets |
|
|
764 |
|
|
|
|
|
766 |
|
|
|
|
|
1,526 |
|
|
|
|
|
1,532 |
|
|
|
||||
Non-GAAP gross profit (gross margin as a percentage of revenue) |
|
$ |
27,875 |
|
|
26 |
% |
|
$ |
3,829 |
|
|
3 |
% |
|
$ |
53,331 |
|
|
25 |
% |
|
$ |
36,125 |
|
|
13 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Operating Expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
GAAP research and development (as a percentage of revenue) |
|
$ |
36,510 |
|
|
34 |
% |
|
$ |
59,642 |
|
|
40 |
% |
|
$ |
72,562 |
|
|
34 |
% |
|
$ |
109,039 |
|
|
39 |
% |
Stock-based compensation expense |
|
|
(10,731 |
) |
|
|
|
|
(15,847 |
) |
|
|
|
|
(19,033 |
) |
|
|
|
|
(25,353 |
) |
|
|
||||
Restructuring costs (1) |
|
|
— |
|
|
|
|
|
— |
|
|
|
|
|
— |
|
|
|
|
|
1 |
|
|
|
||||
Non-GAAP research and development (as a percentage of revenue) |
|
$ |
25,779 |
|
|
24 |
% |
|
$ |
43,795 |
|
|
29 |
% |
|
$ |
53,529 |
|
|
25 |
% |
|
$ |
83,687 |
|
|
30 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
GAAP sales and marketing (as a percentage of revenue) |
|
$ |
36,699 |
|
|
34 |
% |
|
$ |
39,671 |
|
|
26 |
% |
|
$ |
71,698 |
|
|
33 |
% |
|
$ |
76,711 |
|
|
27 |
% |
Stock-based compensation expense |
|
|
(4,463 |
) |
|
|
|
|
(6,757 |
) |
|
|
|
|
(9,905 |
) |
|
|
|
|
(10,926 |
) |
|
|
||||
Amortization of intangible assets |
|
|
(2,264 |
) |
|
|
|
|
(2,273 |
) |
|
|
|
|
(4,525 |
) |
|
|
|
|
(4,545 |
) |
|
|
||||
Restructuring costs (1) |
|
|
— |
|
|
|
|
|
— |
|
|
|
|
|
— |
|
|
|
|
|
1 |
|
|
|
||||
Non-GAAP sales and marketing (as a percentage of revenue) |
|
$ |
29,972 |
|
|
28 |
% |
|
$ |
30,641 |
|
|
20 |
% |
|
$ |
57,268 |
|
|
27 |
% |
|
$ |
61,241 |
|
|
22 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
GAAP general and administrative (as a percentage of revenue) |
|
$ |
15,122 |
|
|
14 |
% |
|
$ |
25,144 |
|
|
17 |
% |
|
$ |
34,819 |
|
|
16 |
% |
|
$ |
49,164 |
|
|
18 |
% |
Stock-based compensation expense |
|
|
(2,049 |
) |
|
|
|
|
(10,557 |
) |
|
|
|
|
(8,820 |
) |
|
|
|
|
(19,851 |
) |
|
|
||||
Other adjustments (2) |
|
|
(2,392 |
) |
|
|
|
|
(105 |
) |
|
|
|
|
(4,001 |
) |
|
|
|
|
(105 |
) |
|
|
||||
Non-GAAP general and administrative (as a percentage of revenue) |
|
$ |
10,681 |
|
|
10 |
% |
|
$ |
14,482 |
|
|
10 |
% |
|
$ |
21,998 |
|
|
10 |
% |
|
$ |
29,208 |
|
|
10 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
GAAP Operating Expenses (as a percentage of revenue) |
|
$ |
88,331 |
|
|
81 |
% |
|
$ |
124,457 |
|
|
83 |
% |
|
$ |
179,079 |
|
|
83 |
% |
|
$ |
234,914 |
|
|
84 |
% |
Stock-based compensation expense |
|
|
(17,243 |
) |
|
|
|
|
(33,161 |
) |
|
|
|
|
(37,758 |
) |
|
|
|
|
(56,130 |
) |
|
|
||||
Amortization of intangible assets |
|
|
(2,264 |
) |
|
|
|
|
(2,273 |
) |
|
|
|
|
(4,525 |
) |
|
|
|
|
(4,545 |
) |
|
|
||||
Restructuring costs (1) |
|
|
— |
|
|
|
|
|
— |
|
|
|
|
|
— |
|
|
|
|
|
2 |
|
|
|
||||
Other adjustments (2) |
|
|
(2,392 |
) |
|
|
|
|
(105 |
) |
|
|
|
|
(4,001 |
) |
|
|
|
|
(105 |
) |
|
|
||||
Non-GAAP Operating Expenses (as a percentage of revenue) |
|
$ |
66,432 |
|
|
61 |
% |
|
$ |
88,918 |
|
|
59 |
% |
|
$ |
132,795 |
|
|
62 |
% |
|
$ |
174,136 |
|
|
62 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Net Loss: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
GAAP net loss (as a percentage of revenue) |
|
$ |
(68,874 |
) |
|
(63 |
)% |
|
$ |
(125,255 |
) |
|
(83 |
)% |
|
$ |
(140,673 |
) |
|
(65 |
)% |
|
$ |
(204,643 |
) |
|
(73 |
)% |
Stock-based compensation expense |
|
|
18,769 |
|
|
|
|
|
35,099 |
|
|
|
|
|
40,368 |
|
|
|
|
|
59,063 |
|
|
|
||||
Amortization of intangible assets |
|
|
3,028 |
|
|
|
|
|
3,039 |
|
|
|
|
|
6,051 |
|
|
|
|
|
6,077 |
|
|
|
||||
Restructuring costs (1) |
|
|
— |
|
|
|
|
|
— |
|
|
|
|
|
— |
|
|
|
|
|
(2 |
) |
|
|
||||
Other adjustments (2) |
|
|
2,392 |
|
|
|
|
|
105 |
|
|
|
|
|
4,001 |
|
|
|
|
|
105 |
|
|
|
||||
Non-GAAP net loss (as a percentage of revenue) |
|
$ |
(44,685 |
) |
|
(41 |
)% |
|
$ |
(87,012 |
) |
|
(58 |
)% |
|
$ |
(90,253 |
) |
|
(42 |
)% |
|
$ |
(139,400 |
) |
|
(50 |
)% |
Provision for income taxes |
|
|
1,648 |
|
|
|
|
|
905 |
|
|
|
|
|
2,056 |
|
|
|
|
|
478 |
|
|
|
||||
Non-GAAP pre-tax net loss (as a percentage of revenue) |
|
$ |
(43,037 |
) |
|
(40 |
)% |
|
$ |
(86,107 |
) |
|
(57 |
)% |
|
$ |
(88,197 |
) |
|
(41 |
)% |
|
$ |
(138,922 |
) |
|
(50 |
)% |
Depreciation |
|
|
4,423 |
|
|
|
|
|
3,925 |
|
|
|
|
|
8,844 |
|
|
|
|
|
7,941 |
|
|
|
||||
Interest income |
|
|
(2,118 |
) |
|
|
|
|
(1,840 |
) |
|
|
|
|
(5,326 |
) |
|
|
|
|
(4,300 |
) |
|
|
||||
Interest expense |
|
|
6,560 |
|
|
|
|
|
2,926 |
|
|
|
|
|
13,171 |
|
|
|
|
|
5,853 |
|
|
|
||||
Other expense (income), net |
|
|
38 |
|
|
|
|
|
(68 |
) |
|
|
|
|
888 |
|
|
|
|
|
(642 |
) |
|
|
||||
Non-GAAP Adjusted EBITDA Loss (as a percentage of revenue) |
|
$ |
(34,134 |
) |
|
(31 |
)% |
|
$ |
(81,164 |
) |
|
(54 |
)% |
|
$ |
(70,620 |
) |
|
(33 |
)% |
|
$ |
(130,070 |
) |
|
(46 |
)% |
(1) |
Consists of restructuring costs for severances and employment-related termination costs. |
|
(2) |
Consists of non-cash charges related to tax liabilities and litigation settlements, including associated non-recurring legal expenses. |
View source version on businesswire.com: https://www.businesswire.com/news/home/20240904051310/en/
Investor Relations
Vice President, Capital Markets and Investor Relations
Patrick.Hamer@chargepoint.com
investors@chargepoint.com
Press
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AJ Gosselin
Director, Corporate Communications
AJ.Gosselin@chargepoint.com
media@chargepoint.com
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