ChargePoint Holdings, Inc. reported third‑quarter fiscal 2026 revenue of $105.67 million, a 6% year‑over‑year increase that surpassed the consensus estimate of roughly $96.5 million. The lift was driven by a $56.39 million increase in Networked Charging Systems revenue and a $42 million rise in subscription services, reflecting stronger demand for its hardware and recurring software offerings as electric‑vehicle adoption accelerates.
On the earnings side, the company posted a GAAP net loss of $2.23 per share, while the non‑GAAP loss was $1.32 per share. The GAAP loss beat the analyst consensus of a $1.31 loss, but the non‑GAAP figure narrowly missed the $1.35 estimate, underscoring the impact of one‑time charges and the company’s ongoing investment in growth. The loss margin improvement relative to the prior year’s $77.6 million GAAP loss in Q3 FY2025 reflects tighter cost control and a more favorable revenue mix.
ChargePoint’s non‑GAAP gross margin expanded to 33%, the highest level since the company went public. The margin gain is largely attributable to a higher proportion of subscription revenue, which carries a higher margin than hardware sales, and to cost efficiencies achieved through scale and improved supply‑chain management. The record margin signals that the company is successfully converting increased sales volume into higher profitability.
Cash usage for the quarter was $14 million, a significant increase from the $2 million used in the prior quarter but still modest relative to the company’s cash reserves. The quarter also saw a $172 million debt exchange that will reduce total debt by more than half and extend maturities to 2030, strengthening the balance sheet and reducing interest expense. These actions demonstrate management’s focus on financial resilience while continuing to fund product development and network expansion.
For the fourth quarter of fiscal 2026, ChargePoint guided revenue of $100 million to $110 million, a 3% year‑over‑year growth at the midpoint. CFO Mansi Khetani noted that the guidance reflects confidence in sustained demand for charging infrastructure and subscription services, while acknowledging macro‑economic uncertainty. CEO Rick Wilmer emphasized that the company’s strategic partnership with Eaton and the launch of a new AC hardware architecture will support continued growth and margin improvement.
Overall, the results indicate that ChargePoint is regaining top‑line momentum and improving profitability, while its balance sheet is becoming more robust. The company still operates at a loss, but the narrowing loss, record gross margin, and debt reduction suggest a trajectory toward profitability as the EV market expands. Headwinds remain in the form of elevated inventory levels and ongoing investment costs, but the company’s strategic initiatives and strong subscription mix position it well for the next quarter and beyond.
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