ChargePoint NYSE: CHPT reported first-quarter fiscal 2027 revenue above its guidance range and said it is entering the final year of a three-year strategic plan with renewed emphasis on growth, margin improvement and operating leverage.
President and Chief Executive Officer Rick Wilmer said the quarter was “a strong start to the fiscal year” and “an important proof point” in the company’s shift from disciplined operational execution toward growth. ChargePoint generated revenue of $102 million for the quarter ended April 30, 2026, which Wilmer said was above the top end of the company’s guidance range and marked its third consecutive quarter of year-over-year growth.
Chief Financial Officer Mansi Khetani said revenue rose 4% from the year-ago period. Networked charging systems revenue was $53 million, or 52% of total revenue, up 2% year over year. Subscription revenue was $41 million, or 40% of total revenue, up 7% year over year as ChargePoint’s installed base continued to expand. Other revenue was $8 million, representing 8% of total revenue.
Margins Hold as Company Targets Operating Leverage
ChargePoint reported non-GAAP gross margin of 32%, up one percentage point from the prior year. Wilmer attributed the result to pricing discipline, operational efficiency and the company’s “software-led, capital-light business model.” He said ChargePoint sells charging hardware, software and services to institutions that own and operate charging infrastructure, while ChargePoint provides the technology platform.
Khetani said hardware gross margin improved by one percentage point year over year. Subscription margin declined to 56% on a GAAP basis but remained above 60% on a non-GAAP basis. She said the decline was related to lower subscription revenue in the quarter and the company’s decision to use existing inventory for repairs instead of building new replacement units and parts.
Non-GAAP operating expenses declined to $54 million from $58 million in the prior quarter and were down 4% year over year. Khetani said the company expects additional reductions in the second half of the year as engineering work tied to new product introductions tapers and prototyping costs normalize. Non-GAAP adjusted EBITDA loss was $19 million, compared with a loss of $23 million in the first quarter of last year. Stock-based compensation was $11 million, down from $18 million a year earlier.
Second-Quarter Guidance Calls for Continued Growth
For the second quarter of fiscal 2027, ChargePoint guided for revenue of $100 million to $110 million, which Khetani said represents 7% year-over-year growth at the midpoint.
The company ended the quarter with $96 million in cash. Inventory declined to $204 million from $215 million in the prior quarter. Khetani said she expects inventory to continue decreasing throughout the year, helping free up cash. She also said ChargePoint expects to “materially reduce cash usage” through the balance of the year, with the potential to generate positive operating cash flow later in the year as the company sells through existing inventory and improves adjusted EBITDA.
During the question-and-answer portion of the call, Khetani said the potential improvement in operating cash flow would come from “all of the above,” including inventory reduction, revenue growth and operating expense management.
New Products and AI Highlight Growth Strategy
Wilmer said ChargePoint is now one quarter into the third year of its three-year strategic plan, which is built around four pillars: capital-efficient hardware innovation, software leadership, world-class driver experiences and operational excellence. He said the third year is focused on driving growth profitably.
A key product in that strategy is Express Solo, which Wilmer described as “the world’s fastest standalone DC charger.” He said the charger delivers up to 600 kilowatts to a single vehicle and is the first product based on ChargePoint’s new DC architecture. According to Wilmer, early access units are already fully committed, and the product provides about 40% higher power density than competing solutions in a smaller footprint.
In response to an analyst question, Wilmer said Express Solo is the first iteration of the platform and that multiple derivative versions serving different use cases and expanding capacity are expected over the next 18 months. He also said ChargePoint is working to understand charging needs for autonomous vehicles and has “specific developments underway” to address them. On solid-state transformers, he told analysts to “stay tuned for news there,” describing the area as an active opportunity.
Wilmer also said artificial intelligence is becoming a meaningful advantage for ChargePoint. He said the company is deploying AI across software development, customer support, product capabilities and business process automation. AI is already contributing to operating expense performance, according to Wilmer, and the company expects customer-facing AI features to support diagnostics, faster issue resolution, energy management, uptime, cost reduction and expansion planning.
Customer Wins and Network Metrics
ChargePoint cited several first-quarter customer wins, including what Wilmer described as the company’s largest transit fleet order to date: DC fast charging solutions for Santa Monica’s Big Blue Bus fleet of electric buses as part of the agency’s goal of full electrification by 2032. ChargePoint also expanded its relationship with OBE Power to deploy 2,500 charging ports this year at multifamily residences, deployed additional DC fast charging equipment in Canada with ChargePoint operator Papillons and began a relationship with Citibank for workplace charging solutions.
Wilmer said ChargePoint’s partnership with Eaton remains a strategic advantage, citing collaboration across product development and go-to-market execution. He said the relationship is expanding ChargePoint’s reach into new customer segments and supporting adoption of next-generation AC and DC solutions.
ChargePoint said it now manages approximately 406,000 ports, up from 385,000 in the prior quarter. That includes more than 44,600 DC fast chargers, up from 41,000, and more than 145,000 ports in Europe, up from 131,000. Software-only managed ports, defined as third-party hardware ports managed by ChargePoint software, rose to 135,000 from 130,000 last quarter. Monthly active users increased slightly to more than 1.48 million at the end of April. Globally, ChargePoint drivers have access to more than 1.41 million public and private charging ports, compared with 1.37 million last quarter.
Management Cites EV Market Tailwinds
Wilmer said ChargePoint believes the transition to electrified transportation remains “inevitable” and that new dynamics are causing it to accelerate. He pointed to the widening operating cost advantage of electric vehicles over internal combustion vehicles as gas prices rise, as well as converging EV purchase prices and expanding consumer choice. He also cited growth in used EV availability and new EV models priced below $35,000.
In Europe, Wilmer said sales of fully electric cars in the region’s main auto markets increased by almost a third in the first quarter of 2026. He said rising EV adoption supports long-term charging demand, noting that EV retention rates consistently exceed 90%.
“Growth has returned. Margins remain strong and will get better,” Wilmer said in closing his prepared remarks. “New products are entering the market soon. The long-term market fundamentals continue to strengthen.”
About ChargePoint NYSE: CHPT
ChargePoint NYSE: CHPT is a leading provider of electric vehicle (EV) charging solutions that designs, develops and markets charging hardware, software and services. The company's portfolio includes Level 2 AC charging stations for residential, commercial and fleet applications, as well as DC fast charging systems suited for retail, hospitality and public use. ChargePoint's integrated platform enables site hosts to manage charging infrastructure through cloud-based monitoring, analytics and billing tools, while EV drivers access and control charging sessions via a mobile app or RFID card.
Since its founding in 2007 and headquarters in Campbell, California, ChargePoint has built one of the largest open EV charging networks in the world.
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