CAMPBELL, Calif. - ChargePoint (NYSE:CHPT) Holdings, Inc. (NYSE:CHPT) reported better-than-expected revenue for the third quarter of fiscal 2025, sending its shares soaring over 11% in after-hours trading on Wednesday.
The electric vehicle charging network provider posted revenue of $100 million for the quarter ended October 31, 2024, surpassing analyst estimates of $93.27 million. However, the company's adjusted loss per share of -$0.18 was slightly wider than the -$0.17 expected by analysts.
ChargePoint's revenue declined 10% YoY but came in above the company's own guidance range of $95-105 million. Subscription revenue grew 19% YoY to $36.4 million, while networked charging systems revenue fell 29% to $52.7 million.
"We are encouraged by record EV sales in the industry, and we continue to see network utilization driving the need for more charging infrastructure," said Rick Wilmer, CEO of ChargePoint. "Our third quarter results exceeded our expectations, and demonstrate that our strategy, focus on operational excellence, and rigorous cash management are translating to tangible results."
For the fourth quarter, ChargePoint expects revenue between $95 million and $105 million. The company aims to achieve positive adjusted EBITDA in a quarter during fiscal 2026.
ChargePoint ended the quarter with $219.8 million in cash and cash equivalents. The company's $150 million revolving credit facility remains undrawn with no debt maturities until 2028.
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