ChargePoint(CHPT) - 2026 Q3 - Quarterly Results

Revenue Performance - Revenue for Q3 FY 2026 was $106 million, a 6% increase year-over-year, exceeding guidance[7] - Subscription revenue grew 15% year-over-year to $42 million[7] - Total revenue for the three months ended October 31, 2025, was $105,674,000, representing an increase of 6.5% compared to $99,612,000 for the same period in 2024[23] Profitability and Loss - GAAP net loss for Q3 FY 2026 was $52.5 million, a 32% reduction from $77.6 million in the prior year's same quarter[8] - The net loss for the three months ended October 31, 2025, was $52,479,000, compared to a net loss of $77,590,000 for the same period in 2024, indicating a 32.4% improvement[23] - GAAP net loss for the three months ended October 31, 2025, was $(52,479), or (50%) of revenue, compared to $(77,590) (78%) in the same period last year[29] - Non-GAAP net loss for the three months ended October 31, 2025, was $(31,095), representing (29%) of revenue, compared to $(42,240) (42%) in the prior year[29] Gross Margin and Profit - GAAP gross margin improved to 31%, up from 23% in the prior year's same quarter; non-GAAP gross margin reached a record high of 33%, up from 26%[8] - Non-GAAP gross profit for the three months ended October 31, 2025, was $34,511, with a gross margin of 33%, up from $25,781 (26%) in the prior year[28] - Total gross profit for the nine months ended October 31, 2025, was $91,200, with a gross margin of 30%, compared to $71,981 (23%) for the same period in 2024[28] Expenses - Operating expenses decreased by 16% year-over-year to $76.8 million[8] - Research and development expenses for the nine months ended October 31, 2025, were $104,664,000, a decrease of 5.4% from $110,861,000 in the previous year[23] - Non-GAAP operating expenses for the three months ended October 31, 2025, were $57,462, accounting for 54% of revenue, compared to $58,597 (59%) in the same period last year[29] - Total operating expenses for the nine months ended October 31, 2025, were $248,352, or 82% of revenue, compared to $270,031 (86%) in the prior year[28] Cash and Debt Management - Cash and cash equivalents on the balance sheet as of October 31, 2025, were $180.9 million[8] - Cash and cash equivalents decreased to $180,514,000 as of October 31, 2025, down from $224,571,000 at the beginning of the year[25] - Total outstanding debt was reduced by $172 million, representing more than 50% reduction post quarter end[8] Future Outlook - For Q4 FY 2026, ChargePoint expects revenue between $100 million and $110 million[9] Contracts and Agreements - ChargePoint was awarded a cooperative purchasing contract with Sourcewell for EV charging solutions, marking its third agreement since 2017[8]