ChargePoint Skyrockets 74% as Revenue Beat and Narrower Loss Clear Estimates

After Wednesday’s close, ChargePoint Holdings (NYSE:CHPT) reported a fiscal second-quarter revenue beat and a materially narrower adjusted loss, and Thursday’s session has produced a violent reaction in ChargePoint stock. The SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is up 1% to $772.51, so the market isn’t doing most of the lifting on this one.

ChargePoint stock is up 74% to $9.05 on Thursday afternoon, one of the sharpest single-session moves the name has recorded. ChargePoint shares closed down 22% year to date and down 6% over the past month through Wednesday’s close, so this is a violent recovery off a low base. Even after Thursday’s rally, ChargePoint stock trades below its 52-week high of $12.61.

Revenue Beat and Narrower Loss Clear Estimates

For its fiscal second quarter ended July 31, ChargePoint reported revenue of $116.1 million, up 18% year over year and ahead of the roughly $105 million analysts expected. The company’s non-GAAP adjusted EBITDA loss narrowed to $4.8 million, an improvement of 78% from a year earlier and well ahead of the $16.4 million loss analysts had forecast. On the bottom line, ChargePoint posted an adjusted loss per share of $1.35 against a forecast loss of $1.60, clearing consensus on all three headline metrics at once.

ChargePoint’s segment detail showed hardware outrunning software, with Networked Charging Systems revenue up 25% year over year to $62.9 million and Subscription revenue up 10% to $43.7 million. That mix matters, since hardware growth is what would eventually turn ChargePoint from a subscription-heavy story into one with real product volume. The company held $95.7 million in cash, cash equivalents and restricted cash at quarter-end, and management flagged essentially zero cash burn during the quarter, according to ChargePoint.

Margin Expansion Leans on a One-Time Refund

ChargePoint’s non-GAAP gross margin rose 500 basis points year over year to 38%, a record for the company on that measure. The figure included a one-time tariff refund of $4.2 million at ChargePoint, and excluding that benefit non-GAAP gross margin would have printed at 35%. On a clean basis, the underlying 35% level still steps up meaningfully from the year-ago quarter.

Looking ahead, ChargePoint guided fiscal third-quarter revenue to a range of $105 million to $115 million against the roughly $109 million analysts expected. The range brackets consensus without clearing it, so the forward number didn’t move the way the reported quarter did. That gap between the size of Thursday’s reprice and the modest guidance signal is the real tension in a 74% session, and no short interest data is available to confirm a covering dynamic behind the magnitude.

Peer Charging Names Offer No Read-Across

The closest listed comparables in EV charging carry no same-day catalyst to test whether the enthusiasm extends past ChargePoint. Blink Charging (NASDAQ:BLNK) sits in the same subsector as a smaller public charging operator pursuing its own margin turnaround. EVgo (NASDAQ:EVGO) rounds out the fast-charging peer set with a network operator model that leans closer to owner-operator economics than ChargePoint’s capital-light approach.

Beyond the direct peer set, the Global X Autonomous & Electric Vehicles ETF (NASDAQ:DRIV) covers the broader mobility theme, though its holdings skew toward automakers, semiconductors and battery names instead of charging-network operators. That leaves no clean sector proxy for whether traders are chasing charging infrastructure specifically or just chasing ChargePoint on its own results. Either way, the read-across from a single-name reprice this large is limited.

What to Watch Next

ChargePoint’s fiscal third-quarter print is the next data point that will test whether Thursday’s reprice is sustainable, since the guidance range brackets consensus without raising it. Traders can watch for whether early access shipments of Express Solo and the extended Mercedes-Benz fleet partnership in the UK and Germany translate into a stronger revenue trajectory in the back half of the fiscal year.

The magnitude of Thursday’s move exceeds what the reported figures alone account for, and ChargePoint stock still trades below its 52-week high even after the run. Investors should keep their position sizing modest given the low share price, the continued adjusted EBITDA loss, and a margin beat that leans partly on a tariff refund that isn’t slated to repeat.

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