Overview
ChargePoint Q3 revenue grew 6% yr/yr, beating analyst expectations
Subscription revenue increased 15% yr/yr, boosting gross margins
Company reduced debt by $172 mln post-quarter, over 50% reduction
Outlook
ChargePoint expects Q4 revenue between $100 mln and $110 mln
Result Drivers
SUBSCRIPTION REVENUE - Subscription revenue increased 15% yr/yr, contributing to improved gross margins
DEBT REDUCTION - Co reduced debt by $172 mln post-quarter, strengthening financial position
NEW PLATFORM - Release of ChargePoint Platform aims to enhance station performance and customer response
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Beat | $105.67 mln | $96.71 mln (9 Analysts) |
Q3 Net Income | -$52.48 mln | ||
Q3 Gross Margin | 31% | ||
Q3 Basic EPS | -$2.23 | ||
Q3 Gross Profit | $32.49 mln | ||
Q3 Pretax Profit | -$51.59 mln |
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 8 "hold" and 2 "sell" or "strong sell"
The average consensus recommendation for the electrical components & equipment peer group is "buy."
Wall Street's median 12-month price target for ChargePoint Holdings Inc is $11.00, about 31.7% above its December 3 closing price of $8.35
Press Release: ID:nBw7zN2wGa
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)