Chargepoint Stock Earnings Reports

ChargePoint reported Q2 FY2026 results with revenue of $99M (top of guidance) and a record non-GAAP gross margin of 33%. The company ended the quarter with $195M of cash (down <$2M from Q1) and continues to materially reduce cash burn. ChargePoint now manages >363,000 ports worldwide (including >37,000 DC fast chargers) and nearly 1.3M accessible ports globally. Subscription revenue was $40M (40% of revenue) and subscription gross margins are a record (~61% GAAP). Management cited project delays (not cancellations) driven by North American uncertainty, tariff dynamics, and the impending expiration of certain EV tax credits, and said these delays push the timeline for reaching non-GAAP adjusted EBITDA breakeven beyond this year to preserve funding for product innovation and commercialization. The Eaton strategic partnership is being operationalized and has already produced co-branded products; management highlighted two new product families—an Express DC line (Eaton-powered, lower CapEx/Opex, faster installs) and bidirectional Flex home charging integrated with Eaton—which are expected to improve hardware margins and accelerate deployments, particularly in Europe where EV sales growth is stronger. Near-term OpEx will be elevated due to R&D/NRE spend for product launches, but management expects OpEx to moderate in Q4 and further next year. Guidance: the company reiterated a cautious outlook and expects 2026 revenue of $90–$100M while continuing to prioritize progress toward profitability and cash-flow improvement. Key balance-sheet notes: inventory ~$212M (flat Q/Q), $150M revolver undrawn, no debt maturities until 2028. Major risks cited: macro/EV sales uncertainty, tariff environment, and timing of customer project execution.