Overview
- ChargePoint posted Q3 revenue of $105.67 million versus a $96.71 million consensus and an adjusted loss of $2.23 per share versus a $1.31 loss expected.
- The company guided Q4 revenue to $100 million to $110 million as it works to stabilize growth and profitability.
- Subscription revenue rose 15% year over year to $42 million and non-GAAP gross margin held at a record 33%.
- ChargePoint said it reduced debt by $172 million after quarter-end following a debt exchange aimed at strengthening its balance sheet.
- Shares rose about 6.6% in extended trading and jumped 26.6% Friday to $10.79, while RBC cut its target to $9 and Roth MKM trimmed to $8.50 with Sector Perform/Neutral ratings; separately, a Michigan partnership with Dabaja Brothers is adding 40+ fast-charging ports, with a 500 kW site live in Canton and more planned in Dearborn and Livonia.