ChargePoint Q3 FY2024 revenue $110.3M (-12% YoY); GAAP gross margin -22% on $42M inventory impairment

ChargePoint Holdings, Inc.

2024-Q3 EPS reported -$1.01 revenue$390,807,000

GAAP net loss widened to $158.2M from $84.5M YoY; non-GAAP adjusted EBITDA loss $97.4M including $42M impairment.
Networked charging systems revenue fell 24% to $73.9M; subscription revenue grew 41% to $30.6M.
Cash and equivalents $397.4M after $233.1M ATM share offering; $150M revolver undrawn, no debt maturities until 2028.
Reaffirms target of positive non-GAAP Adjusted EBITDA by Q4 calendar 2024 (Q4 FY2025).
New President & CEO Rick Wilmer cites execution challenges and continued macroeconomic headwinds.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

ChargePoint Holdings, Inc. reported third quarter of fiscal 2024 ended October 31, 2023 results: revenue $110.3 million, net income GAAP net loss was $158.2 million. Guidance reaffirmed.

Period: third quarter of fiscal 2024 ended October 31, 2023
Revenue: $110.3 million
Net income: GAAP net loss was $158.2 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Reports Third Quarter Fiscal Year 2024 Financial Results • Consistent with preliminary financial results announced on November 16, 2023: ◦ Third quarter fiscal 2024 revenue of $110 million representing a 12% decrease year-over-year ◦ GAAP gross margin of negative 22% and Non-GAAP gross margin of negative 18%, reflecting $42 million impact from an inventory

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ChargePoint Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001777393-23-000040

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