
ChargePoint Reports First Quarter Fiscal Year 2026 Financial Results, Highlights Strategic Advances and Improved Margins
A leading provider of networked solutions for charging electric vehicles (EVs), announced its financial results for the first quarter of fiscal year 2026, which ended on April 30, 2025. Despite a modest dip in overall revenue compared to the same period last year, the company demonstrated significant progress in improving its gross margins, reducing operating losses, and advancing key partnerships and product innovations.
Chief Executive Officer Rick Wilmer expressed confidence in the company’s ongoing transformation, stating, “In Q1, ChargePoint continued to improve key metrics – including subscription margin and overall gross margin – while also announcing partnerships and products that are expected to deliver meaningful growth. Our new partnership with Eaton has created the market’s only integrated EV charging and power management solutions, simultaneously giving ChargePoint access to Eaton’s extensive distribution channels in North America and Europe. Our new AC charging architecture introduces multiple new innovations that will drive demand across commercial, residential, and fleet applications.”
First Quarter Fiscal 2026 Financial Overvie
Revenue Performance
For the quarter ended April 30, 2025, ChargePoint reported total revenue of $97.6 million, representing a 9% decline compared to $107.0 million in the same quarter of the previous fiscal year.
This decline was primarily attributed to a drop in revenue from networked charging systems, which came in at $52.1 million, down 20% from $65.4 million in Q1 of fiscal 2025. In contrast, the company’s subscription revenue showed healthy growth, reaching $38.0 million, a 14% increase from $33.4 million in the prior year. This growing share of high-margin recurring revenue highlights ChargePoint’s ongoing transition toward a more stable and sustainable business model rooted in services and software.
Gross Margin Expansion
ChargePoint’s gross margins saw a marked improvement. GAAP gross margin for Q1 FY2026 was reported at 29%, up from 22% in the same period last year. On a non-GAAP basis, gross margin was even stronger at 31%, up from 24%.
This growth was driven primarily by the increasing share of subscription revenues, which tend to offer higher profitability, as well as improved subscription margins. The company’s success in optimizing its revenue mix and cost efficiencies contributed significantly to the margin gains.
Cost Control and Operating Efficiency
ChargePoint also made progress in reducing its operating expenses. GAAP operating expenses for the quarter totaled $81.8 million, a 10% decrease compared to $90.7 million a year earlier. On a non-GAAP basis, operating expenses were $56.7 million, down 15% from $66.4 million in the prior-year period.
These reductions were part of ChargePoint’s ongoing cost discipline and focus on improving operational efficiency as the company aims for profitability.
Net Loss Narrows Significantly
The company reported a first-quarter GAAP net loss of $57.1 million, representing a 20% improvement from the $71.8 million net loss recorded in the year-ago quarter.
Non-GAAP financial metrics also reflected notable improvements. The company posted a non-GAAP pre-tax net loss of $29.3 million, narrowing from $45.2 million in Q1 of FY2025 – a 35% reduction. Meanwhile, the non-GAAP adjusted EBITDA loss came in at $22.8 million, down 38% from $36.5 million in the prior-year quarter.
These figures reflect the positive impact of increased subscription revenue, cost optimization, and a clearer path to ChargePoint’s goal of reaching positive adjusted EBITDA within fiscal year 2026.
Liquidity and Balance Sheet
As of April 30, 2025, ChargePoint reported $196.3 million in cash and cash equivalents on its balance sheet. Additionally, the company’s $150.0 million revolving credit facility remains fully undrawn, and there are no debt maturities until 2028. This strong liquidity position provides ChargePoint with financial flexibility as it continues to invest in growth initiatives and strategic partnerships.
The company also disclosed that it had approximately 462 million shares of common stock outstanding as of the end of the quarter.
Business and Strategic Highlights
Beyond the financials, ChargePoint made notable advancements on the technology and partnership front during the quarter.
Launch of New AC Charging Architecture
One of the most significant product announcements was the introduction of a new AC charging architecture that will serve as the foundation for upcoming charger models across the commercial, residential, and fleet segments. The new design will include support for bidirectional charging, enabling future vehicle-to-grid (V2G) and vehicle-to-everything (V2X) applications.
The platform is expected to streamline installation, enhance performance, and expand functionality across ChargePoint’s product lineup, reinforcing its leadership in scalable EV charging solutions.
Partnership with Eaton
ChargePoint also revealed a landmark partnership with Eaton Corporation, a global leader in intelligent power management. Under this agreement, the two companies will integrate their respective EV charging and infrastructure solutions to co-develop technologies aimed at advancing V2X capabilities.
This collaboration is poised to enhance grid interactivity and energy efficiency for ChargePoint customers, while also extending the company’s reach through Eaton’s robust distribution networks in both North America and Europe. The partnership supports ChargePoint’s strategy of embedding its charging technologies into broader energy ecosystems and addressing a wider range of market opportunities.
Outlook for Second Quarter Fiscal 2026
Looking ahead, ChargePoint provided guidance for the second quarter of fiscal year 2026, ending July 31, 2025. The company expects revenue to fall within the range of $90 million to $100 million, reflecting a cautious but steady outlook amid ongoing macroeconomic uncertainties and evolving EV adoption trends.
Importantly, ChargePoint reiterated its commitment to achieving positive non-GAAP adjusted EBITDA during at least one quarter within fiscal year 2026. However, the company noted that it cannot provide a GAAP reconciliation for this forward-looking non-GAAP metric due to the inherent uncertainty of potential adjustments—particularly stock-based compensation and other variables not yet determined.
Investor Access and Webcast Information
To provide further insights into its performance and strategy, ChargePoint will host a live webcast on June 5, 2025, at 1:30 p.m. Pacific Time / 4:30 p.m. Eastern Time. The webcast will include a review of the company’s first-quarter financial results, followed by a Q&A session with company executives.
Interested parties can access the live webcast, along with supporting financial materials and an investor presentation, by visiting the ChargePoint investor relations website at investors.chargepoint.com, under the “Events and Presentations” section. A replay of the webcast will also be available and archived for one year.
While facing revenue headwinds in hardware sales, ChargePoint has taken decisive steps to strengthen its business fundamentals and long-term strategic position. With improved margins, disciplined cost management, and innovative new offerings, the company is demonstrating resilience and forward momentum as it continues to scale in the increasingly competitive EV infrastructure market.
ChargePoint’s focus on high-value partnerships, such as the one with Eaton, and its investment in flexible, future-ready architectures underscore its vision for enabling a cleaner, smarter, and more electrified transportation future. Investors and industry observers alike will be closely watching the company’s performance in the coming quarters as it pursues profitability and continued market leadership.
ChargePoint is creating a new fueling network to move people and goods on electricity. Since 2007, ChargePoint has been committed to making it easy for businesses and drivers to go electric with one of the largest EV charging networks and a comprehensive portfolio of charging solutions. The ChargePoint cloud subscription platform and software-defined charging hardware are designed to include options for every charging scenario from home and multifamily to workplace, parking, hospitality, retail and transport fleets of all types. Today, one ChargePoint account provides access to hundreds of thousands of places to charge in North America and Europe.