ChargePoint Reports $97.6 Million Revenue, Net Loss of $57.1 Million for April 2025

ChargePoint Holdings, Inc. reported a total revenue of $97.6 million for the three months ended April 30, 2025, a decrease of 9% from $107.0 million in the same period last year. The decline was primarily attributed to a drop in revenue from networked charging systems, which fell to $52.1 million from $65.4 million, reflecting lower delivery volumes. In contrast, subscription revenue increased to $38.0 million, up from $33.4 million, driven by growth in ChargePoint Platform subscriptions. The company recorded a net loss of $57.1 million, an improvement from the $71.8 million loss reported in the prior year, resulting in a net loss per share of $0.12 compared to $0.17.

ChargePoint's operational metrics showed a mixed performance. The company’s cash and cash equivalents decreased to $195.9 million from $224.6 million at the end of January 2025. The total number of shares outstanding increased to 461.6 million from 456.1 million, reflecting ongoing employee stock plan activities. The company’s accumulated deficit grew to $1.95 billion, indicating continued challenges in achieving profitability. However, gross profit improved to $28.0 million, with a gross margin of 28.7%, up from 22.1% in the previous year, largely due to the higher proportion of subscription revenue.

Strategically, ChargePoint has been focusing on cost management and operational efficiency. The company implemented a reorganization plan in September 2024, resulting in a workforce reduction of approximately 15%, which contributed to a decrease in operating expenses. Research and development expenses fell to $33.5 million from $36.1 million, while sales and marketing expenses decreased significantly to $26.2 million from $35.0 million. General and administrative expenses rose to $22.1 million from $19.7 million, primarily due to non-recurring operating expenses.

Looking ahead, ChargePoint remains optimistic about its growth prospects, particularly in the expanding electric vehicle (EV) market. The company anticipates that increased adoption of EVs will drive demand for its charging infrastructure. However, it also acknowledges potential risks, including macroeconomic factors such as inflation and interest rates, as well as competition in the EV charging space. ChargePoint plans to leverage its existing cash reserves and explore additional financing options to support its growth initiatives and operational needs in the coming year.