ChargePoint Holdings Inc (NYSE:CHPT) shares are trading lower in Wednesday’s after-hours session on the heels of the company’s fourth-quarter results. Here’s what you need to know from the report.

• ChargePoint Hldgs shares are sliding. Why are CHPT shares down?

ChargePoint Reports Mixed Q4 Results

ChargePoint reported fourth-quarter revenue of $109.32 million, beating the consensus estimate of $104.70 million, according to Benzinga Pro. The EV charging company reported a quarterly loss of $1.85 per share, missing estimates for a loss of $1.03 per share.

Total revenue was up 7% on a year-over-year basis. Network charging systems revenue increased 10% year-over-year to $57.6 million, and subscription revenue increased 11% to $42.5 million. ChargePoint said it ended the quarter with $141.6 million in cash and cash equivalents.

“While the broader market remains dynamic, our focus on execution, efficiency, and strategic partnerships positions us well as charging demand continues to grow. We made meaningful operational progress over the past year and are committed to building on that momentum,” said Rick Wilmer, CEO of ChargePoint. 

ChargePoint expects first-quarter revenue to be in the range of $90 million to $100 million versus estimates of $104.08 million.

Management is currently discussing the quarter on an earnings call that started at 4:30 p.m. ET.

CHPT Shares Slip After Hours

CHPT Price Action: ChargePoint shares were down 6.60% in Wednesday's after-hours session, trading at $6.09 at the time of publication, according to Benzinga Pro.

Image: Shutterstock.com