ChargePoint Shares Surge Higher on Q2 Earnings and Raised FY Revenue Outlook

September 3, 2021 ( Newswire) ChargePoint Holdings Inc. shares powered 8.25% higher after the firm reported a 61% increase in Q2/22 YoY revenue and raised its FY/22 revenue guidance by 15% to $225-235 million.


After U.S. markets closed for trading yesterday, electric vehicle charging network company ChargePoint Holdings Inc. (CHPT:NYSE) announced financial results for its second quarter of 2022 ended July 31, 2021.

The company’s President and CEO Pasquale Romano commented, “ChargePoint’s strong second quarter results demonstrate our continued growth and leadership in the electric revolution…We achieved record revenue, significantly grew our commercial, fleet, and residential businesses, launched a charging integration with Mercedes, announced our agreement to acquire e-mobility technology provider has to be, and acquired eBus and commercial vehicle management provider ViriCiti.”

ChargePoint Holdings reported that revenue in Q2/22 increased by 61% to $56.1 million, compared to $35.0 million in Q2/21. The firm noted that networked charging revenue rose to $40.9 million in Q2/22, which represented a 91% increase over the $21.4 million recorded in Q2/21.

The company advised that revenue growth was significant across commercial, fleet, and residential verticals in both North America and Europe. ChargePoint stated that commercial customers of all types are currently upping their investments in charging for their customers, employees, and visitors and noted that EV vehicle adoption has accelerated demand for residential use applications as well.

ChargePoint highlighted that as of July 31, 2021, the total number of activated ports within its network exceeded 118,000. The company mentioned that theses charging access ports include greater than 5,400 in Europe and more than 3,700 DC fast charge ports.

The firm posted a GAAP net loss of $84.9 million in Q2/22, which it said included “a $10.4 million loss from the change in fair value of warrant liabilities and $28.3 million in stock-based compensation expense.”

The company stated that on a non-GAAP basis which excludes the above adjustments and other items, it registered a net loss in Q2/22 of $40.39 million, versus a net loss of $22.55 million in Q2/21.

ChargePoint indicated that as of July 31, 2021, it was well funded with $618.5 million in cash on its balance sheet.

The company provided some forward guidance and stated that for Q3/22 it expects revenue of between $60-65 million. The firm further advised that it is that it is raising its FY/22 revenue outlook to $225-235 million, up approximately 15% from its prior estimates of $195-205 million.

ChargePoint is endeavoring to create a new electrical transportation fueling network. The company claims to have one of the largest comprehensive EV charging networks. The firm has built an integrated cloud subscription platform designed to offer options for every charging scenario. The company’s network covers everything from home and multifamily housing units to business workplaces, parking lots, hotels, retail, and commercial transport fleets.

With the use of a ChargePoint account, customers can access hundreds of thousands of charging locations in Europe and North America. The firm indicated that, so far, its customers have executed more than 92 million charging sessions.

ChargePoint started today day with a market cap of around $6.8 billion with approximately 321.5 million shares outstanding and a short interest of about 6.6%. CHPT shares opened 12% higher today at $23.79 (+2.56, +12.06%) over yesterday’s $21.23 closing price. The stock has traded today between $22.18 to $23.80 per share and closed at $22.97 (+$1.74, +8.20%).


1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.

3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

More Info: Newswire

This news is published on the Newswire – a global digital news source for investors and business leaders

Disclaimer/Disclosure: is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.

More disclaimer info: Learn more about publishing your news release and our other news services on the newswire and

Global investors must adhere to regulations of each country. Please read privacy policy:

Follow Us on StockTwits

image investing ideas in renewable energy stocks

Like Renewable Energy Stocks? View our Renewable Energy Stocks Directory

Buy a renewable energy guest post on

What's your reaction?

In Love
Not Sure

Leave a reply

Your email address will not be published. Required fields are marked *

More in:News

Next Article:

0 %