secwatch.observer — SEC 8-K summary
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Issuer:     ChargePoint Holdings, Inc. (CHPT)
CIK:        0001777393
Form:       8-K
Filed at:   2023-11-16T23:59:59+00:00
Accession:  0001777393-23-000037
Event type: other_material
Sentiment:  negative
Materiality: 0.90
Item codes: 2.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ChargePoint pre-announces Q3 revenue $108-113M (well below guidance), CEO & CFO replaced
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1777393/000177739323000037/0001777393-23-000037-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1777393/000177739323000037/chpt-20231116.htm
  HTML page:      https://secwatch.observer/filing/0001777393-23-000037

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