ChargePoint Holdings, Inc.
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Item 1. Business.
ChargePoint Holdings, Inc. (“ChargePoint” or the “Company”) is a leading provider of electric vehicle (“EV”) charging technology solutions to customers that want to offer EV charging, driving the transition to electric mobility across North America and Europe. ChargePoint’s vision is to create a seamless, ubiquitous, and accessible EV charging experience for all. Our mission is to simplify the transition to electric vehicles for everyone, from individual drivers to businesses and organizations of all sizes. By meeting the needs of a rapidly evolving EV market, ChargePoint enables its customers to reduce emissions, supports renewable energy integration, and promotes sustainable transportation. ChargePoint powers over 385,000 “active” charging ports, which ChargePoint defines as ports that are running on ChargePoint software, serving more than 1,480,000 active EV drivers quarterly. EV drivers benefit from ChargePoint’s advanced mobile app and roaming partnerships, providing access to more than 1,370,000 million worldwide public and private charging ports. ChargePoint also enables charge point operators (“CPOs”) and electric mobility service providers to build custom EV charging networks and is trusted by over 60% of Fortune 500, and over 80% of Fortune 50 companies to meet their growing EV charging requirements, making it a vital enabler of the transition to electric mobility.
Near-term passenger EV sales are expected to increase from 2.4% of new vehicles sold in 2020 to 27.0% in 2030 in the United States and from 12.2% of new vehicles sold in 2020 to 51.5% in 2030 in Europe, according to the Bloomberg New Energy Finance (“BNEF”) Long-Term Electric Vehicle Outlook 2025 report, released in June 2025. These projected trends in EV adoption remain despite roll-back of the federal fuel-economy standards and phase-out of the $7,500 EV tax credit announced in the United States in 2025. Globally, this shift to vehicle electrification is propelled by additional factors, including existing and proposed fossil fuel bans or restrictions, transit electrification mandates, corporate commitments to zero carbon footprint initiatives and utility and government incentive programs. Based on these trends, BNEF projects that the annual investment in EV charging infrastructure across North America and Europe is expected to increase from $3.7 billion in 2020 to $17.8 billion in 2030, for a cumulative investment of $125.3 billion over that period.
To meet the growing demand for EV infrastructure, ChargePoint delivers comprehensive offerings spanning the entire EV charging ecosystem, providing charging hardware, software, and a variety of services for businesses, homeowners, fleet operators, CPOs, and automakers to optimize their charging operations under their own brands. ChargePoint serves commercial, fleet, and residential sectors with its diverse selection of Networked Charging Systems including Level 2, alternating current (AC) and Level 3, direct current (DC) fast charging stations. The ChargePoint Platform is comprised of ChargePoint’s charger management software (“CMS” or “CMS Service”), which is a cloud-based SaaS platform used by charging station owners to manage Networked Charging Systems, and its “eMSP Service” solution, which is a collection of cloud delivered software capabilities, APIs and companion professional services to enable e-Mobility Service Providers to in turn deliver custom EV driver management and payment solutions. ChargePoint’s Networked Charging Systems and CMS are accompanied with a comprehensive services and support program, including an extended parts and labor warranty solutions called “Assure.”
The modular architecture of ChargePoint’s Networked Charging Systems combined with its powerful, scalable and extensible ChargePoint Platform allows its customers to customize their charging networks to meet specific needs, whether for auto original equipment manufacturers (“OEMs”), private fleets, municipalities, workplaces, retail businesses or private networks. ChargePoint’s hardware, software, and services are designed to scale alongside the EV ecosystem, serving the needs of three core customer groups: CPOs, e-Mobility Service Providers, and EV drivers.
Charge Point Operators (CPOs)
ChargePoint enables CPOs to deploy, maintain, and operate EV charging stations. CPOs can generate revenue directly through the sale of electricity or access fees charged to EV drivers, or indirectly by attracting drivers to their facilities where charging stations are located. ChargePoint’s industry-leading products and services support a variety of CPO use cases, including:
•For-Profit CPOs: Companies focusing on large-scale EV charging deployments and operations for passenger vehicles or fleet vehicles;
•Auto OEMs: EV manufacturers such as General Motors, Mercedes-Benz and Toyota providing charging infrastructure to support EV sales, and also at their factories and workplaces;
•Site Hosts: Institutions such as retail, education, healthcare, workplaces, parking, and hospitality offering EV charging as an amenity to attract customers, employees, or tenants;
•Fleet CPOs: Organizations like vehicle leasing and fleet management companies that use charging infrastructure to support fleet operations; and
•Hybrid, Multi-Family or Shared CPOs: Apartments and condominiums providing shared charging for residents.
The ChargePoint Platform enables CPOs to offer customized solutions to fit their specific business needs with features including remote diagnostics, energy management, flexible pricing, and dynamic controls to manage EV driver access policies.
e-Mobility Service Providers
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e-Mobility Service Providers connect EV drivers to charging infrastructure across multiple siloed networks of charging stations through digital platforms. Typically, an e-Mobility Service Provider will directly manage the relationship with its customers, the EV drivers, by offering a mobile application or in-dash interface to enable EV drivers to find, use and pay for charging. Often, an e-Mobility Service Provider does not own or operate charging stations and so needs to partner with CPOs to provide its EV drivers with access to charging stations. ChargePoint’s eMSP Service enables e-Mobility Service Providers to build and deliver a full complement of charging features for EV drivers, including:
•Station Discovery: Locate Networked Charging Systems across ChargePoint’s network of active ports and the charging networks of its roaming partners;
•Authentication and Payments: Secure, flexible payment options, including credit cards and digital wallets;
•Driver Engagement: Loyalty programs, reservations, and waitlist features to enhance the charging experience; and
•Home Charging Management: Tools for scheduling and rate optimization for home charging.
These are just a few of dozens of additional capabilities to customize the end-user experience and aid station and charging management. By leveraging the ChargePoint eMSP Service, e-Mobility Service Providers can deliver branded, seamless charging experiences to their EV driver customers.
EV Drivers
EV drivers are the core of the charging ecosystem, benefiting from ChargePoint’s extensive network of charging ports and user-friendly mobile applications. Key features include:
•Seamless integration of the ChargePoint eMSP Service into OEM vehicle companion apps and in-dash charging systems;
•Access to more than 1 million charging ports worldwide on ChargePoint’s publicly accessible active ports and through its roaming partnerships;
•Charging station access across multiple roaming networks with unified access; and
•Real-time station availability, pricing transparency, and session notifications.
ChargePoint EV driver solutions enable CPOs and e-Mobility Service Providers to engage with and support personal EV owners and fleet drivers, accelerating EV adoption and fostering a sustainable future.
An industry pioneer since 2007, ChargePoint has led the electric mobility revolution by offering tailored EV charging solutions for a myriad of applications in a variety of industries. Unlike CPOs that invest heavily in owning charging stations, ChargePoint empowers site owners, CPOs and e-Mobility Service Providers to manage charging networks under their own brands, enabling scalable growth and maximum flexibility. Today, ChargePoint is well positioned to lead future growth in the EV industry. By prioritizing flexibility, scalability, and customer empowerment, ChargePoint is meeting the challenges of electrification through its comprehensive Networked Charging Systems hardware and the ChargePoint Platform. ChargePoint’s comprehensive ecosystem of products and services supports ChargePoint’s mission to accelerate the transition to electric mobility while positioning the Company for both leadership and longevity in the coming years.
The Portfolio
ChargePoint generates revenue through the sale of its diverse portfolio of hardware, software products, and services designed to support the implementation and management of EV charging solutions. ChargePoint primarily generates revenue from the sale of its Networked Charging Systems, sales of a variety of software solutions that comprise the ChargePoint Platform and are offered as a subscription billed upfront regardless of term, sale of its Assure and other service programs as a subscription billed upfront regardless of term, and sales of its professional services. ChargePoint sells these offerings as software-only solutions or as integrated packages that combine Networked Charging Systems, the ChargePoint Platform, and extended parts and labor warranties, providing flexibility to ChargePoint’s customers.
Networked Charging System Portfolio.
ChargePoint offers a comprehensive range of Networked Charging Systems, designed, developed and manufactured in collaboration with its contract manufacturing partners. These solutions deliver high efficiency in power and high energy density, with a scalable architecture designed to ensure high availability, seamless modular expansion, and efficient serviceability. ChargePoint’s hardware portfolio includes Level 2 AC charging stations for commercial, fleet, and home applications, as well as Level 3 DC fast chargers for commercial and fleet use. ChargePoint’s portfolio of Networked Charging Systems are available in various form factors and power levels and can accommodate nearly every charging scenario. ChargePoint’s Networked Charging Systems support all electric vehicle types (including cars, commercial and delivery vehicles, buses, and heavy-duty vehicles) regardless of manufacturer or port connector type. Additionally, ChargePoint Omni Port integrates multiple charging standards into a single port, enabling almost any electric vehicle to charge at any Omni Port enabled station.
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In addition, customers can also choose from hundreds of “ChargePoint Compatible” stations built by third-party hardware manufacturers and operate them by installing the ChargePoint CMS.
•AC Solutions: ChargePoint’s AC Networked Charging Systems are a key component of comprehensive charging solutions for commercial, fleet, multi-family, and residential applications. They are available in a range of form factors, including the CP6000, CT4000 series, and the award-winning ChargePoint Home Flex. ChargePoint’s AC Networked Charging Systems comply with North American and European safety standards and regulations, and are designed to ensure safety, reliability, and energy efficiency. Designed for flexible applications, ChargePoint’s AC Networked Charging Systems come in a wide variety of power configurations and can be pedestal or wall mounted, making them ideal for diverse customer needs such as workplaces, commercial parking lots, residential homes, and multi-family dwellings, and a variety of fleet applications from smaller delivery vehicles to fleets with longer dwell times such as school buses and public transit. ChargePoint’s AC Networked Charging Systems provide a convenient way for EV drivers to add up to 40 miles of range per hour while charging at home, at work or around town.
•DC Solutions: ChargePoint’s Express and Express Plus DC fast charging systems are designed to ensure safety, reliability, and energy efficiency as they deliver energy in a wide variety of flexible and scalable configurations for high-power charging applications. ChargePoint’s DC fast charging stations are capable of charging an electric vehicle up to 80% of battery capacity in as little as 20 minutes, making them ideal for a variety of fast charging locations, including interstate corridors, fueling stations, convenience stores, and fleet operations with larger vehicles or shorter dwell times.
•Third-Party Hardware Solutions: ChargePoint also supports third-party charging station hardware that can be operated by ChargePoint’s CMS which ChargePoint refers to as “ChargePoint Compatible.” ChargePoint Compatible stations are third-party charging stations that ChargePoint has tested and integrated with the ChargePoint CMS via the industry standard Open Charge Point Protocol (OCPP). ChargePoint sells a ChargePoint CMS subscription along with a separate activation service in connection with supporting these charging stations.
Advanced ChargePoint Platform.
The ChargePoint CMS Service and ChargePoint eMSP Service combine to form the ChargePoint Platform, a powerful, flexible, and scalable software solution that enables CPOs, fleet owners, auto OEMs and e-Mobility Service Providers to efficiently manage their charging infrastructure, while also enabling EV drivers to access charging when, where and how they want to charge. The ChargePoint CMS is a cloud-based SaaS platform that seamlessly manages the end-to-end lifecycle of ChargePoint’s Networked Charging Systems as well as third-party charging stations. ChargePoint’s CMS capabilities include network connectivity, proactive monitoring, station troubleshooting to support station up-time targets, managing driver access policies, optimizing energy usage, setting energy prices and processing EV driver payments. The ChargePoint eMSP Service is a suite of cloud-delivered software capabilities delivered through APIs and companion professional services for e-Mobility Service Providers, enabling them to build and publish mobile and in-dash applications for EV drivers to find, use and pay for charging. ChargePoint also offers its own mobile EV driver application that compliments its CMS Service and eMSP Service offerings, enriching charging experiences by connecting EV drivers with locations, pricing, and payment methods for ChargePoint and third-party roaming charging stations.
ChargePoint believes that as EV adoption rises, so does the importance of the ChargePoint Platform to help manage charging complexity. Some examples include:
•Commercial customers can adjust the rate at which EVs charge to match the natural parking duration at the site and to avoid peak or demand charges;
•Charging infrastructure made available to the public during the day can be reserved for private fleets at night or made available to employees during the day and open to the public at night;
•Telematics software integrations provide data and insights to reduce costs and improve fleet reliability. The ChargePoint Platform is specifically designed to integrate with fuel management systems and fleet operations software to enable seamless integration into fleet processes; and
•ChargePoint Platform APIs integrate with in-vehicle infotainment systems, consumer mobile applications, payment systems, mapping tools, home automation assistants, fleet fuel cards, wearables and residential utility programs to enable ChargePoint’s customers to deliver expanded B2B and B2C services to their core constituents.
ChargePoint CMS Service:
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Financial statements
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ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
The following discussion of the financial condition and results of operations of ChargePoint Holdings, Inc. (“ChargePoint” or the “Company”) should be read in conjunction with ChargePoint’s condensed consolidated financial statements and related notes appearing elsewhere in this Quarterly Report, and the audited consolidated financial statements for the year ended January 31, 2026 and related notes included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on April 2, 2026. This discussion may contain forward-looking statements based upon current expectations that involve risks and uncertainties. ChargePoint’s actual results may differ materially from those anticipated in these forward-looking statements as a result of various factors, including those set forth under “Risk Factors” in Part II, Item 1A of this Quarterly Report.
Overview
ChargePoint designs, develops and markets networked electric vehicle (“EV”) charging system infrastructure (“Networked Charging Systems”) connected through cloud-based services (the “ChargePoint Platform”) which (i) enable charging systems owners, charge point operators (“CPOs”) or hosts, to manage their Networked Charging Systems, and (ii) enable drivers to locate, reserve and authenticate Networked Charging Systems and to transact EV charging sessions on those systems. ChargePoint’s Networked Charging Systems, subscriptions and other offerings provide an open platform that integrates with system hardware from ChargePoint and other manufacturers, connecting systems over an intelligent network that provides real-time information about charging sessions and full control, support and management of the Networked Charging Systems. This network provides multiple web-based portals for charging system owners, fleet managers, drivers and utilities.
ChargePoint generates revenue primarily through the sale of Networked Charging Systems, subscriptions to the ChargePoint Platform and extended parts and labor warranties (“Assure”). The Company also generates revenue, in some instances, by providing customers use of ChargePoint’s owned and operated Networked Charging Systems, ChargePoint Platform and Assure into a single multi-year or annual subscription (“ChargePoint as a Service” or “CPaaS”). Each of the ChargePoint Platform, Assure and CPaaS is typically paid for upfront and revenue is recognized ratably over the term of the subscription period.
ChargePoint targets three key verticals: commercial, fleet and residential. Commercial customers have parking places largely within their workplaces and include retail, hospitality, healthcare, fueling and convenience and parking lot operators. Fleet includes municipal buses, delivery and work vehicles, port/airport/warehouse and other industrial applications, ride-sharing services, and is expected to eventually include autonomous transportation. Residential includes single family homes and multifamily residences.
Since its inception in 2007, ChargePoint has been engaged in developing and marketing its Networked Charging Systems, subscriptions and other offerings, raising capital and recruiting personnel. ChargePoint has incurred net operating losses and negative cash flows from operations in every year since its inception. As of July 31, 2026, ChargePoint had an accumulated deficit of $2,190.5 million. The Company’s principal sources of liquidity are its cash and cash equivalents, cash generated from sales to customers, debt financing (as described in Part I, Item 1, Note 6, Debt), and sales of Common Stock under the 2025 ATM Facility (as defined in Part I, Item 1, Note 8, Common Stock).
Key Factors Affecting Operating Results
ChargePoint believes its performance and future success depend on several factors that present significant opportunities for it but also pose risks and challenges, including those discussed below:
Growth in EV Adoption
ChargePoint believes its revenue growth is tied to the number of passenger and commercial EVs sold, which it believes drives the demand for EV charging infrastructure. The market for EVs is still rapidly evolving and although demand for EVs has grown in recent years, the rate of EV sales is highly volatile and there is no guarantee of future demand for EV sales, especially in the markets ChargePoint primarily services, such as North America and Europe. Factors impacting the adoption of EVs include but are not limited to perceptions about EV features, quality, safety, performance and cost; perceptions about the limited range over which EVs may be driven on a single battery charge; volatility in the cost of oil and gasoline (including as a result of ongoing conflicts in the Middle East involving the United States, Iran, Israel and other Gulf States); availability of services for EVs; consumers’ perception about the convenience, reliability and cost of charging EVs; and increases in fuel
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efficiency of internal combustion engine vehicles. Further, numerous EV auto manufacturers have announced delays in or modified their previously announced plans to migrate their manufacturing production to be solely or primarily EVs. For example, the North American EV market has recently suffered declines in the sale of new EVs since the termination of the $7,500 U.S. federal tax credit in September 2025, resulting in quarterly declines of new EVs sold as compared to prior periods. If the market for EVs does not develop as expected, if there is any slow-down or delay in overall EV adoption, or if auto manufacturers delay their EV manufacturing rates or eliminate their plans to transition to predominantly EV manufacturing, the rate of EV adoption may be adversely affected and the market for EV charging may not develop as a result and ChargePoint’s financial condition and results of operations could be materially and adversely impacted.
Macroeconomic Trends
ChargePoint has an international presence and as a result is subject to risks and uncertainties caused by significant events with macroeconomic impacts, including, but not limited to geopolitical events, such as the ongoing Russia-Ukraine conflict, conflicts in the Middle East involving the United States, Iran, Israel and other Gulf States, rising political tensions with China, fluctuations in inflation and interest rates, monetary policy changes, financial services sector instability, recessions, global pandemics and foreign currency fluctuations.
The U.S. federal government has imposed, and may in the future impose, modify, suspend, or eliminate tariffs and surcharges on imports from various countries under one or more statutory authorities, including but not limited to executive trade powers and applicable provisions of U.S. trade law. There remains substantial uncertainty regarding the duration of existing and newly announced tariffs and surcharges, potential changes or pauses to such tariffs, tariff levels, and whether further additional tariffs or other retaliatory actions may be imposed, modified, or suspended, and the impacts of such actions on ChargePoint’s business. ChargePoint continues to monitor and evaluate these developments and assess their potential impact on ChargePoint’s business, financial condition, and results of operations. Trade restrictions and increased tariffs between the United States and countries like China, Mexico and Canada may result in adverse economic conditions, increase the costs of goods sold and result in a recession or the threat of a recession.
In addition, the United States automotive manufacturing industry is particularly sensitive to the impact of disruptions in supply chains as a result of geopolitical conflicts and tariffs on the increased costs of manufacturing and selling vehicles, which may result in substantial increases to the cost of vehicles to consumers, including EVs. Because ChargePoint is substantially reliant on the increased adoption and sales of new EVs, if there is any downturn in the sales of EVs or consumers reduce their purchases of new EVs, either because the vehicles are more expensive or as the result of a general downturn in the overall economy as the result of the conflicts in the Middle East and additional tariffs, ChargePoint’s customers may reduce their need for EV infrastructure development and ChargePoint’s business, financial results and results of operations may be harmed.
Global economic uncertainty due to other macroeconomic conditions, including inflation, interest rate pressures, disruptions and credit constraints in the financial services industry, labor market disruptions, and related concerns of a potential recession, have impacted customer behavior related to discretionary spending and sentiment and could continue to impact such behaviors in the future. Any resulting decline in the ability or willingness of customers, fleet owners and operators to purchase ChargePoint’s products or subscription services could have an adverse impact on ChargePoint’s results of operations and financial condition.
Competition
ChargePoint is currently a market leader in North America in commercial Level 2 Alternating Current (“AC”) charging. ChargePoint also offers AC chargers for use at home and for fleet applications, and high-power Level 3 Direct Current (“DC”) chargers for fast urban charging, corridor or long-trip charging and fleet applications. ChargePoint intends to expand its market share over time in its product categories, leveraging the network effect of its products and ChargePoint Platform. Existing competitors may expand their product offerings and sales strategies, and new competitors may enter the market. Historically, ChargePoint has sold its Networked Charging Systems and charger management system (“CMS” or “CMS Services”) as an integrated “full-stack” offering, providing its customers with a sole-source solution for their EV charging needs, especially in the United States. At times, customers seek to disaggregate their networked charging solutions and to implement independent hardware and charging management software solutions, particularly for national or global commercial retailers and large fleet operators. While ChargePoint enables Networked Charging System owners to choose ChargePoint’s CMS Services and select their choice of third-party hardware, there is no guarantee that this distributed sales model will be successful. If ChargePoint’s market share decreases due to increased competition, or if ChargePoint is unable to compete with a disaggregated EV charging solutions sales model, its financial condition and results of operations may be materially and adversely impacted. Furthermore,
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ChargePoint’s success could be negatively impacted if consumers and businesses choose other types of alternative fuel vehicles or high fuel-economy gasoline powered vehicles.
Impact of New Product Releases and Investments in Growth
As ChargePoint introduces new products, its gross margins may be initially negatively impacted by launch costs and lower sales volumes until it achieves targeted cost reductions. Cost reductions may not occur on the timeline ChargePoint expects due to a number of factors, including but not limited to failure to meet its own estimates, unanticipated supply chain difficulties, government mandates or certification requirements. In recent quarters, ChargePoint has maintained elevated levels of inventory, and ChargePoint is also preparing for the introduction of its next generation AC and DC Networked Charging System models, which increases the complexity of inventory management and heightens the risk that certain existing products or components may become excess, obsolete, or subject to inventory write‑downs. In addition, ChargePoint may accelerate its expenditures where it sees growth opportunities, which may negatively impact gross margin until upfront costs and inefficiencies are absorbed and normalized operations are achieved. Further, ChargePoint has historically invested in prioritizing an assurance of supply of its products and new customer acquisition, which puts pressure on gross margins and increases operating expenses. ChargePoint also continuously evaluates and may adjust its expenditures, such as new product introduction costs, based on its launch plans for new products, as well as other factors including the pace and prioritization of current projects under development and the addition of new projects. As ChargePoint attains higher revenue, it expects operating expenses as a percentage of total revenue to decrease as it scales and focuses on increasing operational efficiency and process automation.
ChargePoint intends to use third-party contract manufacturers and design partners for targeted new research and development initiatives with the goals of controlling development costs and decreasing operating expenses. ChargePoint believes such partnerships will allow it to better manage research and development expenses, improve the speed and quality of new product development and increase its efficiencies by leveraging the design talent and supply chains of these partners. Implementing third-party design partners for new research and development initiatives will require sophisticated oversight, quality programs and cost-control initiatives. If ChargePoint is not successful in its use of third-party contract manufacturers and design partners for new product development, its financial conditions, gross margins and results of operations could be materially and adversely affected.
Government Mandates, Incentives and Programs
The U.S. federal government, certain foreign governments and some state and local governments provide incentives to end users and purchasers of EVs and EV infrastructure in the form of rebates, tax credits and other financial incentives. The U.S. federal government, and some foreign and state governments, have proposed changing or ending these incentives. These proposals create uncertainty and if adopted and implemented may have a material adverse impact on the EV market, which benefits from these financial incentives to significantly lower the effective price of EVs and EV charging stations to customers.
For example, the Infrastructure Investment and Jobs Act signed into law on November 15, 2021 provided additional funding for EVs and EV charging infrastructure through the creation of new programs and grants and the expansion of existing programs, including the $7.5 billion National Electric Vehicle Infrastructure (“NEVI”) Program for EV charging along highway corridors. On August 11, 2025, the Federal Highway Administration (“FHWA”) issued new guidance, updating prior guidance which previously froze federal funds tied to NEVI and directed states to file updated implementation plans. The FHWA has since approved the state plans and states are moving forward with their NEVI programs. Separately, the One Big Beautiful Bill Act (“OBBBA”) was signed into law on July 4, 2025, which set new end dates for the EV charging infrastructure tax credits previously made available under Section 30C and Section 30D of the Internal Revenue Code of 1986, as amended. In particular, the OBBBA terminated the $7,500 new clean vehicle tax credit for all new EVs sold after September 30, 2025. This and any other reduction in rebates, tax credits or other financial incentives for EVs or EV charging stations could materially reduce the demand for EVs and ChargePoint’s solutions and, as a result, may adversely impact ChargePoint’s business and expansion potential.
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Results of Operations and Its Components
Revenue
Networked Charging Systems
Networked Charging Systems revenue includes the deliveries of EV charging system infrastructure, which include a range of AC products for use in residential, commercial and fleet applications, and DC, or fast-charge products for use in commercial and fleet applications, as well as fees received for transferring regulatory incentives earned for participating in low carbon fuel programs. ChargePoint generally recognizes revenue from sales of Networked Charging Systems upon shipment to customers, including distributors, resellers or direct sales customers as these customers obtain title and control over these products. Revenue is adjusted for estimated returns. Revenue from regulatory incentives is recognized when the regulatory incentives are transferred.
Subscriptions
Subscriptions revenue consists of revenue from ChargePoint Platform software, Assure extended maintenance plans, and CPaaS, which combines the customer’s use of ChargePoint’s owned and operated Networked Charging Systems with the ChargePoint Platform and Assure programs into a single, typically multi-year subscription.
In some instances, CPaaS subscriptions are considered for accounting purposes to contain a lease for the customer’s use of ChargePoint’s owned and operated Networked Charging Systems unless the location allows the customer to receive incremental economic benefit from regulatory credits earned on that EV charging system. Lessor revenue relates to operating leases and historically has not been material. Subscriptions revenue is generally recognized over time on a straight-line basis as ChargePoint has an ongoing obligation to deliver such services to the customer.
Other
Other revenue consists of charging related fees received from drivers using charging sites owned and operated by ChargePoint, net transaction fees earned for processing payments collected on driver charging sessions at charging sites owned by its customers, and other professional services. Revenue from driver charging sessions and charging transaction fees is recognized when the charging session or transaction is completed. Revenue from fees for owned and operated sites is recognized over time on a straight-line basis over the performance period of the service contract as ChargePoint has an ongoing obligation to deliver such services. Revenue from professional services is recognized as the services are rendered.
ChargePoint has seen its revenue fluctuate based on market demand and other factors, and expects this variability in Networked Charging Systems revenue to continue in the near term. In the long term, it expects revenue to grow in both Networked Charging Systems and subscriptions due to increased demand in EVs and the related charging infrastructure market.
| July 31, | |||||||||||||||||||||||
| Networked Charging Systems | 2026 | 2025 | Change | ||||||||||||||||||||
| (dollar amounts in thousands) | |||||||||||||||||||||||
| Three months ended | $ | 62,917 | $ | 50,421 | $ | 12,496 | 24.8 | % | |||||||||||||||
| Percentage of total revenue | 54.2 | % | 51.1 | % | |||||||||||||||||||
| Six months ended | $ | 116,224 | $ | 102,480 | $ | 13,744 | 13.4 | % | |||||||||||||||
| Percentage of total revenue | 53.3 | % | 52.2 | % | |||||||||||||||||||
Networked Charging Systems revenue increased during the three and six months ended July 31, 2026 compared to the three and six months ended July 31, 2025 primarily due to higher volume of Networked Charging Systems delivered across ChargePoint’s major product families.
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| July 31, | |||||||||||||||||||||||
| Subscriptions | 2026 | 2025 | Change | ||||||||||||||||||||
| (dollar amounts in thousands) | |||||||||||||||||||||||
| Three months ended | $ | 43,698 | $ | 39,896 | $ | 3,802 | 9.5 | % | |||||||||||||||
| Percentage of total revenue | 37.6 | % | 40.5 | % | |||||||||||||||||||
| Six months ended | $ | 84,473 | $ | 77,916 | $ | 6,557 | 8.4 | % | |||||||||||||||
| Percentage of total revenue | 38.8 | % | 39.7 | % | |||||||||||||||||||
Subscriptions revenue increased during the three and six months ended July 31, 2026 compared to the three and six months ended July 31, 2025 primarily due to the growth in the number of ChargePoint Platform subscriptions and Assure subscriptions for Networked Charging Systems connected to ChargePoint’s network.
| July 31, | |||||||||||||||||||||||
| Other Revenue | 2026 | 2025 | Change | ||||||||||||||||||||
| (dollar amounts in thousands) | |||||||||||||||||||||||
| Three months ended | $ | 9,460 | $ | 8,273 | $ | 1,187 | 14.3 | % | |||||||||||||||
| Percentage of total revenue | 8.1 | % | 8.4 | % | |||||||||||||||||||
| Six months ended | $ | 17,197 | $ | 15,834 | $ | 1,363 | 8.6 | % | |||||||||||||||
| Percentage of total revenue | 7.9 | % | 8.1 | % | |||||||||||||||||||
Other revenue increased during the three and six months ended July 31, 2026 compared to the three and six months ended July 31, 2025 due to an increase in transaction fees earned for processing payments collected on driver charging sessions at charging sites owned by ChargePoint’s customers.
Cost of Revenue
Networked Charging Systems
ChargePoint uses contract manufacturers to manufacture its Networked Charging Systems. ChargePoint’s cost of revenue for the sale of Networked Charging Systems includes the contract manufacturer’s costs of finished goods and shipping and handling. Cost of revenue for the sale of Networked Charging Systems also consists of salaries and related personnel expenses, including stock-based compensation, warranty provisions, inventory obsolescence and write-downs, depreciation of manufacturing related equipment, and allocated facilities and information technology expenses. As revenue is recognized, ChargePoint accounts for estimated warranty cost as a charge to cost of revenue. The estimated warranty cost is based on historical and predicted product failure rates and repair expenses.
Subscriptions
Cost of Subscriptions revenue includes salaries and related personnel expenses, including stock-based compensation and third-party support costs to manage the systems and helpdesk services for drivers and site hosts, network and wireless connectivity costs for subscription services, field costs for Assure, depreciation of owned and operated systems used in CPaaS arrangements, allocated facilities and information technology expenses.
Other
Cost of other revenue includes depreciation and other costs for ChargePoint’s owned and operated charging sites, charging related processing charges, salaries and related personnel expenses, including stock-based compensation, as well as costs of professional services.
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| July 31, | |||||||||||||||||||||||
| Cost of Networked Charging Systems Revenue | 2026 | 2025 | Change | ||||||||||||||||||||
| (dollar amounts in thousands) | |||||||||||||||||||||||
| Three months ended | $ | 49,495 | $ | 46,492 | $ | 3,003 | 6.5 | % | |||||||||||||||
| Percentage of Networked Charging Systems revenue | 78.7 | % | 92.2 | % | |||||||||||||||||||
| Six months ended | $ | 98,449 | $ | 95,130 | $ | 3,319 | 3.5 | % | |||||||||||||||
| Percentage of Networked Charging Systems revenue | 84.7 | % | 92.8 | % | |||||||||||||||||||
Cost of Networked Charging Systems revenue increased during the three and six months ended July 31, 2026 compared to the three and six months ended July 31, 2025 primarily due to a higher volume of products shipped, partially offset by a one-time tariff refund during the three and six months ended July 31, 2026 of $4.3 million.
| July 31, | |||||||||||||||||||||||
| Cost of Subscriptions Revenue | 2026 | 2025 | Change | ||||||||||||||||||||
| (dollar amounts in thousands) | |||||||||||||||||||||||
| Three months ended | $ | 18,065 | $ | 15,534 | $ | 2,531 | 16.3 | % | |||||||||||||||
| Percentage of subscriptions revenue | 41.3 | % | 38.9 | % | |||||||||||||||||||
| Six months ended | $ | 35,985 | $ | 30,900 | $ | 5,085 | 16.5 | % | |||||||||||||||
| Percentage of subscriptions revenue | 42.6 | % | 39.7 | % | |||||||||||||||||||
Cost of Subscriptions revenue increased primarily due to the increases in Assure costs during the three and six months ended July 31, 2026 compared to the three and six months ended July 31, 2025.
| July 31, | |||||||||||||||||||||||
| Cost of Other Revenue | 2026 | 2025 | Change | ||||||||||||||||||||
| (dollar amounts in thousands) | |||||||||||||||||||||||
| Three months ended | $ | 6,213 | $ | 5,836 | $ | 377 | 6.5 | % | |||||||||||||||
| Percentage of other revenue | 65.7 | % | 70.5 | % | |||||||||||||||||||
| Six months ended | $ | 11,536 | $ | 11,486 | $ | 50 | 0.4 | % | |||||||||||||||
| Percentage of other revenue | 67.1 | % | 72.5 | % | |||||||||||||||||||
Cost of other revenue did not materially change during the three and six months ended July 31, 2026 compared to the three and six months ended July 31, 2025.
Gross Profit and Gross Margin
Gross profit represents revenue less cost of revenue, and gross margin is gross profit expressed as a percentage of revenue. ChargePoint offers a range of Networked Charging Systems with significant variation in selling prices and associated gross margins. As a result, ChargePoint’s gross profit and gross margin have fluctuated in the past and are expected to continue to vary from period to period, driven by factors such as geographic, vertical and product mix.
In the long term, improvements in ChargePoint’s gross profit and gross margin will depend on its ability to continue to optimize its operations and supply chain as it increases its revenue. However, at least in the short term, as the product mix continues to vary and as ChargePoint continues to align inventory supply with demand and optimize for customer acquisition, launches new Networked Charging Systems products, grows its presence in Europe, and expands its solutions for its fleet customers, gross margin will vary from period to period.
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| July 31, | |||||||||||||||||||||||
| Gross Profit and Gross Margin | 2026 | 2025 | Change | ||||||||||||||||||||
| (dollar amounts in thousands) | |||||||||||||||||||||||
| Three months ended | $ | 42,302 | $ | 30,728 | $ | 11,574 | 37.7% | ||||||||||||||||
| Gross margin | 36.4 | % | 31.2 | % | 5.2 | % | |||||||||||||||||
| Six months ended | $ | 71,924 | $ | 58,714 | $ | 13,210 | 22.5% | ||||||||||||||||
| Gross margin | 33.0 | % | 29.9 | % | 3.1 | % | |||||||||||||||||
Gross profit and gross margin increased during the three and six months ended July 31, 2026 compared to the three and six months ended July 31, 2025 primarily due to Networked Charging Systems cost efficiencies, a one-time tariff refund in the period, and a slight increase in subscription revenue as a percentage of total revenue.
Research and Development Expenses
Research and development expenses consist primarily of salaries and related personnel expenses, including stock-based compensation, for personnel related to the development of improvements and expanded features for ChargePoint’s products and services, including in quality assurance, testing, product management, and allocated facilities and information technology expenses. Research and development costs also include prototype and testing cost, professional services and consulting, and are expensed as incurred.
ChargePoint expects its research and development expenses to decrease as a percentage of revenue as it continues to optimize its research and development activities for its technology and product roadmap.
| July 31, | |||||||||||||||||||||||
| Research and Development Expenses | 2026 | 2025 | Change | ||||||||||||||||||||
| (dollar amounts in thousands) | |||||||||||||||||||||||
| Three months ended | $ | 32,410 | $ | 36,479 | $ | (4,069) | (11.2) | % | |||||||||||||||
| Percentage of total revenue | 27.9 | % | 37.0 | % | |||||||||||||||||||
| Six months ended | $ | 68,007 | $ | 69,989 | $ | (1,982) | (2.8) | % | |||||||||||||||
| Percentage of total revenue | 31.2 | % | 35.7 | % | |||||||||||||||||||
Research and development expenses decreased during the three months ended July 31, 2026 compared to the three months ended July 31, 2025 primarily due to a decrease of $6.3 million in payroll-related expense resulting from reduced headcount associated with our previously announced reorganizations, including lower stock-based compensation expense, offset by a $2.2 million increase in employee severance, termination and employment-related exit costs related to the March and July 2026 Reorganizations.
Research and development expenses decreased during the six months ended July 31, 2026 compared to the six months ended July 31, 2025 primarily due to a decrease of $8.6 million in payroll related expense resulting from reduced headcount associated with our previously announced reorganizations, offset by a $6.3 million increase in employee severance, termination and employment-related exit costs related to the March and July 2026 Reorganizations.
Sales and Marketing Expenses
Sales and marketing expenses consist primarily of salaries and related personnel expenses, including stock-based compensation, sales commissions, professional services fees, travel, marketing and promotional expenses, bad debt expenses, and allocated facilities and information technology expenses.
ChargePoint expects its sales and marketing expenses to decrease as a percentage of revenue as it continues to optimize its sales and marketing activities while expanding sales.
38
| July 31, | |||||||||||||||||||||||
| Sales and Marketing Expenses | 2026 | 2025 | Change | ||||||||||||||||||||
| (dollar amounts in thousands) | |||||||||||||||||||||||
| Three months ended | $ | 23,459 | $ | 25,033 | $ | (1,574) | (6.3) | % | |||||||||||||||
| Percentage of total revenue | 20.2 | % | 25.4 | % | |||||||||||||||||||
| Six months ended | $ | 47,053 | $ | 51,225 | $ | (4,172) | (8.1) | % | |||||||||||||||
| Percentage of total revenue | 21.6 | % | 26.1 | % | |||||||||||||||||||
Sales and marketing expenses decreased during the three months ended July 31, 2026 compared to the three months ended July 31, 2025 primarily due to a decrease of $3.3 million in payroll-related expense resulting from reduced headcount associated with our previously announced reorganizations, including lower stock-based compensation expense, offset by a $1.5 million increase in employee severance, termination and employment-related exit costs related to the March and July 2026 Reorganizations and an increase of $0.8 million in commission-related costs.
Sales and marketing expenses decreased during the six months ended July 31, 2026 compared to the six months ended July 31, 2025 primarily due to a decrease of $5.0 million in payroll-related expense resulting from reduced headcount associated with our previously announced reorganizations, including lower stock-based compensation expense, decrease in bad debt expense of $1.7 million, offset by $3.2 million of employee severance, termination and employment-related exit costs related to the March and July 2026 Reorganizations.
General and Administrative Expenses
General and administrative expenses consist primarily of salaries and related personnel expenses, including stock-based compensation related to finance, legal and human resource functions, contractor and professional services fees, audit and compliance expenses, insurance costs, and general corporate expenses, including allocated facilities and information technology expenses.
We expect to continue managing and reducing our general and administrative expenses as we scale our business operations and operate as a public company. These expenses include costs related to compliance with SEC rules and regulations, legal and audit services, additional insurance, and other administrative and professional services.
| July 31, | |||||||||||||||||||||||
| General and Administrative Expense | 2026 | 2025 | Change | ||||||||||||||||||||
| (dollar amounts in thousands) | |||||||||||||||||||||||
| Three months ended | $ | 20,492 | $ | 28,193 | $ | (7,701) | (27.3) | % | |||||||||||||||
| Percentage of total revenue | 17.7 | % | 28.6 | % | |||||||||||||||||||
| Six months ended | $ | 38,077 | $ | 50,317 | $ | (12,240) | (24.3) | % | |||||||||||||||
| Percentage of total revenue | 17.5 | % | 25.6 | % | |||||||||||||||||||
General and administrative expenses decreased during the three months ended July 31, 2026 compared to the three months ended July 31, 2025 primarily due to a decrease in non-recurring operating expenses of $5.9 million mainly from litigation and settlement costs, and a decrease of $2.3 million in payroll-related expense resulting from reduced headcount associated with our previously announced reorganizations, including lower stock-based compensation expense, offset by $2.1 million of employee severance, termination and employment-related exit costs and facilities exit costs related to the July 2026 Reorganization.
General and administrative expenses decreased during the six months ended July 31, 2026 compared to the six months ended July 31, 2025 primarily due to a decrease in non-recurring operating expenses of $9.5 million mainly from litigation and settlement costs and a decrease of $4.6 million in payroll-related expense resulting from reduced headcount associated with our previously announced reorganizations, including lower stock-based compensation expense, offset by $3.9 million employee severance, termination and employment-related exit costs and facilities exit costs related to the March and July 2026 Reorganizations.
39
Interest Income
Interest income consists primarily of interest earned on ChargePoint’s cash and cash equivalents.
| July 31, | |||||||||||||||||||||||
| Interest Income | 2026 | 2025 | Change | ||||||||||||||||||||
| (dollar amounts in thousands) | |||||||||||||||||||||||
| Three months ended | $ | 499 | $ | 1,132 | $ | (633) | (55.9) | % | |||||||||||||||
| Percentage of total revenue | 0.4 | % | 1.1 | % | |||||||||||||||||||
| Six months ended | $ | 835 | $ | 2,296 | $ | (1,461) | (63.6) | % | |||||||||||||||
| Percentage of total revenue | 0.4 | % | 1.2 | % | |||||||||||||||||||
Interest income decreased during the three and six months ended July 31, 2026 as compared to the three and six months ended July 31, 2025 due to lower balances of interest-bearing cash equivalents.
Interest Expense
Interest expense consists primarily of the interest on ChargePoint’s 2028 Convertible Notes that were originally issued in April 2022, and amended in October 2023, which are described more completely below in Liquidity and Capital Resources.
| July 31, | |||||||||||||||||||||||
| Interest Expense | 2026 | 2025 | Change | ||||||||||||||||||||
| (dollar amounts in thousands) | |||||||||||||||||||||||
| Three months ended | $ | (279) | $ | (6,849) | $ | 6,570 | (95.9) | % | |||||||||||||||
| Percentage of total revenue | (0.2) | % | (6.9) | % | |||||||||||||||||||
| Six months ended | $ | (553) | $ | (13,285) | $ | 12,732 | (95.8) | % | |||||||||||||||
| Percentage of total revenue | (0.3) | % | (6.8) | % | |||||||||||||||||||
Interest expense decreased during the three and six months ended July 31, 2026 as compared to the three and six months ended July 31, 2025 primarily due to a decrease in the outstanding balance of the 2028 Convertible Notes as the result of the debt Exchange Transaction. For more information, see Part I, Item 1, Note 6, Debt, in the notes to condensed consolidated financial statements in this Quarterly Report.
Other Income, Net
Other income (expense), net consists primarily of gains and losses on foreign currency transactions and a one-time gain on loan repayment.
| July 31, | |||||||||||||||||||||||
| Other Income (Expense), net | 2026 | 2025 | Change | ||||||||||||||||||||
| (dollar amounts in thousands) | |||||||||||||||||||||||
| Three months ended | $ | (236) | $ | (323) | $ | 87 | (26.9) | % | |||||||||||||||
| Percentage of total revenue | (0.2) | % | (0.3) | % | |||||||||||||||||||
| Six months ended | $ | 4,860 | $ | 2,290 | $ | 2,570 | 112.2 | % | |||||||||||||||
| Percentage of total revenue | 2.2 | % | |||||||||||||||||||||
Next expected filings
- ~2026-12-04 10-Q expected by 2026-12-06 (in 73 days)
- ~2027-06-07 10-Q expected by 2027-06-09 (in 258 days)
- ~2027-09-03 10-Q expected by 2027-09-05 (in 346 days)
Predicted from historical filing cadence; not an SEC commitment.
Recent SEC filings
- 2026-09-04 10-Q Quarterly Report
- 2026-09-02 8-K Earnings Release; Financial Statements and Exhibits
- 2026-07-31 8-K Costs Associated with Exit; Officer/Director Change; Regulation FD Disclosure
- 2026-07-22 8-K Shareholder Vote Results; Other Events; Financial Statements and Exhibits
- 2026-06-30 8-K Officer/Director Change; Financial Statements and Exhibits
- 2026-06-08 10-Q Quarterly Report
- 2026-06-03 8-K Earnings Release; Financial Statements and Exhibits
- 2026-05-28 DEF 14A Proxy Statement
- 2026-04-17 8-K Officer/Director Change
- 2026-04-02 10-K Annual Report
- 2026-03-04 8-K Earnings Release; Financial Statements and Exhibits
- 2025-12-12 S-3 Registration Statement
- 2025-12-05 10-Q Quarterly Report
- 2025-12-05 S-3/A S-3/A
- 2025-12-04 8-K Earnings Release; Financial Statements and Exhibits