8-K
filed November 16, 2023, 6:59 PM ET
ticker CHPT
CIK 0001777393
other material
confidence high
sentiment negative
materiality 0.90
ChargePoint pre-announces Q3 revenue $108-113M (well below guidance), CEO & CFO replaced
ChargePoint Holdings, Inc.
- Preliminary Q3 FY2024 revenue $108-113M vs prior guidance of $150-165M; miss driven by macro pressures and fleet delays.
- Non-cash inventory impairment charge of $42M; GAAP gross margin negative 23% to -21%; pre-impairment non-GAAP gross margin 19-21% (guided 22-25%).
- Rick Wilmer appointed President and CEO, succeeding Pasquale Romano; Rex Jackson departs CFO role; Mansi Khetani named interim CFO.
- Cash and equivalents ~$397M as of Oct 31; $150M credit facility undrawn; no debt maturities until 2028.
- Full Q3 results and updated FY2024 guidance to be reported Dec 6, 2023; reaffirms goal of positive adjusted EBITDA in Q4 CY2024.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
ChargePoint Holdings, Inc. reported third quarter of fiscal year 2024 ended October 31, 2023 results: revenue $108 to $113 million. Guidance lowered.
- Period
- third quarter of fiscal year 2024 ended October 31, 2023
- Revenue
- $108 to $113 million
- Guidance
- lowered
- Result
- preliminary results
Exact text from the filing
goal of generating positive adjusted EBITDA in the fourth quarter of calendar 2024,” said Wilmer. Preliminary Third Quarter Fiscal Year 2024 Financial Performance • Revenue of $108 to $113 million, as compared to $150 to $165 million as previously expected. • ChargePoint expects to take a non-cash impairment charge of $42 million resulting in GAAP gross
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Pasquale Romano resigned as President and Chief Executive Officer at ChargePoint Holdings, Inc..
- Action
- resigned
- Role
- President and Chief Executive Officer
Exact text from the filing
The Company’s former President and Chief Executive Officer, Pasquale Romano, resigned from the Company and as a member of the Board of Directors of the Company (the “Board”) at the request of the Board
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Rex S. Jackson departed as Chief Financial Officer at ChargePoint Holdings, Inc..
- Action
- separated
- Role
- Chief Financial Officer
Exact text from the filing
the Company’s former Chief Financial Officer, Rex S. Jackson, separated from the Company, respectively, effective November 16, 2023.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Rick Wilmer was appointed as President and Chief Executive Officer at ChargePoint Holdings, Inc..
- Action
- appointed
- Role
- President and Chief Executive Officer
Exact text from the filing
On November 16, 2023, ChargePoint issued a press release announcing the appointment of Mr. Rick Wilmer to the position of President and Chief Executive Officer and Ms. Mansi Khetani to the position of interim Chief Financial Officer, effective immediately.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Mansi Khetani was appointed as interim Chief Financial Officer at ChargePoint Holdings, Inc..
- Action
- appointed
- Role
- interim Chief Financial Officer
Exact text from the filing
On November 16, 2023, ChargePoint issued a press release announcing the appointment of Mr. Rick Wilmer to the position of President and Chief Executive Officer and Ms. Mansi Khetani to the position of interim Chief Financial Officer, effective immediately.
View on SEC.gov
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