ChargePoint Holdings Inc (CHPT) Q1 2026 Earnings Report

Overview of financial performance and trend highlights for QQ1 2026 (USD, unaudited):
- Revenue: $97.64 million, down 8.78% YoY and down 4.17% QoQ per earnings metrics. North America accounted for ~85% of revenue; Europe for ~15%, with Europe weaker driven by Germany.
- Gross Profit: $27.99 million, gross margin 28.66% (GAAP). Non-GAAP gross margin was 31%, up 1 percentage point QoQ and up 7 percentage points YoY, aided by higher hardware and subscription margins and the mix shift toward recurring revenue.
- Gross Margin Drivers: Hardware gross margin rose sequentially despite tariffs and freight; subscription gross margin reached a record 60% (GAAP), with non-GAAP margins supported by economies of scale and cost optimization in support functions.
- Operating Expenses and EBITDA: Non-GAAP operating expenses $57.0 million, up 9% sequentially and down 15% YoY. Non-GAAP adjusted EBITDA loss of $23.0 million versus a loss of $17.0 million in the prior quarter and $36.0 million in the prior-year Q1.
- Net Income and EPS: Net loss of $57.1 million; basic/diluted EPS of -$2.49.
- Cash Flow and Liquidity: Net cash provided by operating activities was negative $32.97 million; free cash flow was negative $34.03 million. Cash balance ended at $196.35 million; the company has a $150 million undrawn revolving credit facility and no debt maturities until 2028. Net debt stood at approximately $126.25 million.
- Balance Sheet: Total assets $897.61 million; total liabilities $779.02 million; total stockholders’ equity $118.59 million. Cash and cash equivalents $195.95 million; accounts receivable $98.69 million; inventory $212.43 million; long-term debt $322.20 million; deferred revenue $128.40 million (current) and $135.96 million (non-current). Inventory balance increased modestly by $3.00 million driven by FX effects, with ongoing sell-through supporting gradual reduction later in the year.
- Guidance: Q2 FY2026 revenue guidance of $90–$100 million. Tariff exposure viewed as minimal to COGS, with margins expected to improve later in the year. Strategy emphasizes revenue growth, gross margin expansion, and cost discipline to reach positive adjusted EBITDA in at least one quarter in FY2026.
- Operational Highlights: Over 352,000 ports under management with 35,000+ DC fast chargers; Europe hosts over 122,000 ports; roaming partnerships provide access to 1.25 million charging ports globally. GM collaboration expanded with over 500 GM ports signed for deployment; Mercedes-Benz agreements extended; theft-resistant charging cable slated for production; software management platform Deenergized supports over 700 charger models from >85 vendors.