ChargePoint(CHPT) - 2026 Q1 - Quarterly Results

Financial Performance - First quarter fiscal 2026 revenue was $98 million, a decrease of 9% from $107 million in the same quarter last year[5] - Subscription revenue for the first quarter was $38 million, representing a 14% year-over-year growth[5] - GAAP gross margin for the first quarter was 29%, up from 22% in the prior year's same quarter, while non-GAAP gross margin was 31%, up from 24%[6] - GAAP operating expenses for the first quarter were $82 million, down 10% from $90.7 million in the prior year[6] - The net loss for the first quarter was $57.1 million, a 20% improvement from a net loss of $71.8 million in the same quarter last year[6] - Non-GAAP net loss improved to $29,958 thousand, representing 31% of revenue, compared to $45,567 thousand or 43% of revenue in the same quarter last year[28] - Cash flows from operating activities showed a net cash used of $32,968 thousand, an improvement from $62,542 thousand in the previous year[25] Future Outlook - ChargePoint expects second quarter fiscal 2026 revenue to be between $90 million and $100 million[8] - The company aims to achieve positive non-GAAP adjusted EBITDA during a quarter in fiscal year 2026[8] Partnerships and Innovations - The company announced a new AC charging architecture featuring bidirectional charging for future models across North America and Europe[12] - ChargePoint formed a partnership with Eaton Corporation to integrate EV charging and infrastructure solutions, co-developing new technologies[12] Cash and Assets - As of April 30, 2025, ChargePoint had cash and cash equivalents of $196.3 million and no debt maturities until 2028[6] - Cash, cash equivalents, and restricted cash at the end of the period totaled $196,349 thousand, down from $292,259 thousand, reflecting a decrease of 32.8%[25] - Total current assets decreased to $554,317 thousand from $566,574 thousand, a decline of 2.3%[24] Liabilities and Equity - Total liabilities increased to $779,020 thousand from $760,704 thousand, marking a rise of 2.4%[24] - The company reported a total stockholders' equity of $118,588 thousand, down from $137,471 thousand, a decrease of 13.7%[24] Cost Structure - GAAP cost of revenue was $69,654 thousand, representing 71% of revenue, compared to $83,432 thousand or 78% in the prior year[27] - Non-GAAP operating expenses as a percentage of revenue decreased to 58% from 62% year-over-year[27]