ChargePoint Reports Fourth Quarter and Full Fiscal Year 2026 Financial Results

• Fourth quarter fiscal 2026 revenue grew 7% year-over-year to $109 million, at the top end of the guidance range; full fiscal year revenue was $411 million
• Fourth quarter fiscal 2026 subscription revenue grew 11% year-over-year to $42 million; full fiscal year subscription revenue grew 13% year-over-year to $162 million
• Fourth quarter fiscal 2026 GAAP gross margin was 31% and non-GAAP gross margin was 33%; full fiscal year GAAP gross margin was 31% and non-GAAP gross margin was 32%

ChargePoint Holdings, Inc. (NYSE:CHPT) ("ChargePoint"), a global leader in electric vehicle (EV) charging solutions, today reported results for its fourth quarter and full fiscal year 2026 ended January 31, 2026.

"Fiscal year 2026 marked an important inflection point for ChargePoint," said Rick Wilmer, President and Chief Executive Officer of ChargePoint. "In the fourth quarter we continued to strengthen our operational foundation, manage the business with discipline, and deliver innovation that matters to our customers. While the broader market remains dynamic, our focus on execution, efficiency, and strategic partnerships positions us well as charging demand continues to grow. We made meaningful operational progress over the past year and are committed to building on that momentum. ChargePoint is creating a more resilient company and remains focused on delivering long‑term value for our customers, partners, and shareholders."

Fourth Quarter Fiscal 2026 Financial Overview

• Revenue. Fourth quarter revenue was $109.3 million, up 7% from $101.9 million in the prior year's same quarter. Networked charging systems revenue for the fourth quarter was $57.6 million, up 10% from $52.6 million in the prior year's same quarter. Subscription revenue was $42.5 million, up 11% from $38.3 million in the prior year's same quarter.
• Gross Margin. Fourth quarter GAAP gross margin was 31% as compared to 28% in the prior year's same quarter, and non-GAAP gross margin was 33% as compared to 30% in the prior year's same quarter primarily due to subscription revenue growth as a percentage of total revenue and improvement in subscription margins.
• Operating Expenses. Fourth quarter GAAP operating expenses were $87.4 million, up 4% from $83.6 million in the prior year's same quarter. Non-GAAP operating expenses were $57.9 million, up 11% from $52.0 million in the prior year's same quarter.
• Net Income/Loss. Fourth quarter GAAP net loss was $44.4 million, down 24% from $58.8 million in the prior year's same quarter. Additionally, non-GAAP pre-tax net loss was $11.7 million, down 52% from $24.4 million in the prior year's same quarter and non-GAAP adjusted EBITDA loss was $18.4 million, up 6% from $17.3 million in the prior year's same quarter.
• Liquidity. As of January 31, 2026, cash and cash equivalents on the balance sheet was $141.6 million.
• Shares Outstanding. As of January 31, 2026, ChargePoint had approximately 24 million shares of common stock outstanding.

Full Fiscal 2026 Financial Overview

• Revenue. For the full year, revenue was $411.2 million, down 1% from $417.1 million in the prior year. Networked charging systems revenue for the full year was $216.5 million, down 8% from $234.8 million in the prior year, and subscription revenue was $162.4 million, up 13% from $144.3 million in the prior year.
• Gross Margin. Full year GAAP gross margin was 31% up from 24% in the prior year. Full year non-GAAP gross margin was 32% up from 26% in the prior year.
• Operating Expenses. Full year GAAP operating expenses were $335.7 million, down 5% from $353.7 million in the prior year. Non-GAAP operating expenses were $230.6 million, down 5% from $243.4 million in the prior year.
• Net Income/Loss. Full year GAAP net loss was $220.2 million down from $277.1 million in the prior year. Full year non-GAAP pre-tax net loss was $103.1 million down from $153.3 million in the prior year. Non-GAAP Adjusted EBITDA Loss was $82.7 million down from $116.5 million in the prior year.

For reconciliation of GAAP and non-GAAP results, please see the tables below.

Business Highlights

• ChargePoint appointed Jaser Faruq as Chief Product and Software Officer, leading global product management and software development.
• ChargePoint and RAW Charging, a leading charge point operator in the UK, established a multi-year partnership with an initial commitment from RAW Charging valued at $7.5 million.
• ChargePoint and Ford Pro announced a new collaboration to offer specialized home, depot, and workplace EV charging solutions for Ford Pro's commercial fleet customers in Germany and the UK.

First Quarter of Fiscal 2027 Guidance

For the first fiscal quarter ending April 30, 2026, ChargePoint expects revenue of $90 million to $100 million.

Conference Call Information

ChargePoint will host a webcast today at 1:30 p.m. Pacific / 4:30 p.m. Eastern to review its fourth quarter and full fiscal year 2026 financial results.

A live webcast of the conference call will be available at https://events.q4inc.com/attendee/850090218. Participants can also access the conference call by dialing +1 (800) 715-9871 (North America toll free) or + 1 (646) 307-1963 (international) and Conference ID 1744120. A replay will be available after the conclusion of the webcast and archived for one year. A copy of this press release with the financial results and supplemental financial information will be also available on ChargePoint's investor relations website (investors.chargepoint.com).

About ChargePoint

ChargePoint has established itself as the leader in electric vehicle (EV) charging innovation since its inception in 2007, long before EVs became widely available. The company provides comprehensive solutions tailored to the entire EV ecosystem, from the grid to the dashboard of the vehicle. The company serves EV drivers, charging station owners, vehicle manufacturers, and similar types of stakeholders. With a commitment to accessibility and reliability, ChargePoint's extensive portfolio of software, hardware, and services ensures a seamless charging experience for drivers across North America and Europe. ChargePoint empowers every driver in need of charging access, connecting them to over 1.37 million public and private charging ports worldwide. ChargePoint has facilitated the powering of more than 21 billion electric miles, underscoring its dedication to reducing greenhouse gas emissions and electrifying the future of transportation. For further information, please visit the ChargePoint pressroom or the ChargePoint Investor Relations site. For media inquiries, contact the ChargePoint press office.

Forward-Looking Statements

This press release contains forward-looking statements that involve risks, uncertainties, and assumptions including statements regarding our projected revenue for the first quarter of fiscal year 2027. 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, increased tariffs 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 ability as an organization to successfully acquire, integrate or partner with other companies, products or technologies in a successful manner such as our partnership efforts with Eaton Corporation; our dependence on widespread acceptance and adoption of EVs, including any delays or modifications to auto manufacturers' plans and strategies to transition to predominately manufacture EVs and any corresponding decreased demand for installation of charging stations; our current dependence on sales of charging stations for the majority of our revenues; overall demand for EV charging and the potential for reduced demand for EVs if governmental policies, 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 state, federal and local charging infrastructure programs in accordance with the respective terms of such program in order to validly secure and obtain awarded funding and win additional grant opportunities; our reliance on contract manufacturers, including those located outside the United States, may result in supply chain interruptions, delays and expense increases which may adversely affect our sales, revenue and gross margins; our ability to expand our operations and market share in Europe; the need to attract additional fleet operators as customers; potential adverse effects on our revenue and gross margins due to delays and costs associated with new product introductions, such as our new AC and Express DC fast charging product architectures, inventory obsolescence, component shortages and related expense increases; the ability or success of our new AC and Express DC fast charging product architectures to result in an increased demand for charging products by commercial, residential and fleet charging customers; adverse impact to our revenues and gross margins if customers increasingly claim clean energy credits and, as a result, they are no longer available to be claimed by us; the effects of competition; risks related to our dependence on our intellectual property; and the risk that our technology could have undetected defects or errors. Additional risks and uncertainties that could affect our financial results are included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Form 10-Q filed with the Securities and Exchange Commission (the "SEC") on December 5, 2025, which is available on our website at investors.chargepoint.com and on the SEC's website at www.sec.gov. Additional information will also be set forth in other filings that we make with the SEC from time to time. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made, except as required by applicable law.

Use of Non-GAAP Financial Measures

ChargePoint has provided financial information in this press release that has not been prepared in accordance with generally accepted accounting principles in the United States ("GAAP"). ChargePoint uses these non-GAAP financial measures internally in analyzing its financial results. ChargePoint believes that the use of these non-GAAP financial measures is useful to investors to evaluate ongoing operating results and trends and believes they provide meaningful supplemental information to investors regarding ChargePoint's underlying operating performance because they exclude items ChargePoint believes are unrelated to, and may not be indicative of, its core operating results.

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). ChargePoint defines non-GAAP gross profit as gross profit excluding stock-based compensation expense, amortization expense of acquired intangible assets and restructuring costs for severances and employment-related termination costs, and facility and other contract termination costs. Non-GAAP gross margin is non-GAAP gross profit as a percentage of revenue.

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). ChargePoint defines non-GAAP cost of revenue and operating expenses as cost of revenue and operating expenses excluding stock-based compensation expense, amortization expense of acquired intangible assets, restructuring costs for severances and employment-related termination costs, and facility and other contract termination costs, and non-cash charges related to tax liabilities, litigation settlements and other non-recurring transaction costs, including associated non-recurring legal expenses and professional service fees.

Non-GAAP Net Loss. ChargePoint defines non-GAAP net loss as net loss excluding stock-based compensation expense, amortization expense of acquired intangible assets, restructuring costs for severances and employment-related termination costs, and facility and other contract termination costs, and non-cash charges related to tax liabilities, litigation settlements and other non-recurring transaction costs, including associated non-recurring legal expenses and professional service fees. These amounts reflect the impact of any related tax effects. Non-GAAP pre-tax net loss is non-GAAP net loss adjusted for provision for income taxes.

Non-GAAP Adjusted EBITDA Loss. ChargePoint defines non-GAAP adjusted EBITDA loss as net loss excluding stock-based compensation expense, amortization expense of acquired intangible assets, restructuring costs for severances and employment-related termination costs, and facility and other contract termination costs, non-cash charges related to tax liabilities, litigation settlements and other non-recurring transaction costs, including associated non-recurring legal expenses and professional service fees, and further adjusted for gain on debt exchange, provision of income taxes, depreciation, interest income and expense, and other income and expense (net).

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 ChargePoint excludes in its calculation of non-GAAP financial measures may differ from the components that other companies exclude when they report their non-GAAP results. In the future, ChargePoint may also exclude other expenses it determines do not reflect the performance of ChargePoint's operating results.

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