Loading...
•
Apr 30, 2022
ChargePoint Q1 2023 Earnings Report
ChargePoint's first quarter of fiscal year 2023 showed strong revenue growth and strategic investments.
Key Takeaways
ChargePoint reported a 102% year-over-year increase in revenue, reaching $81.6 million in Q1 2023, driven by growth across all verticals and a 67% sequential quarterly revenue increase in Europe. The company's GAAP net loss was $89.3 million, and it confirmed its full-year revenue guidance of $450 million to $500 million.
Revenue increased by 102% year-over-year, reaching $81.6 million.
Networked charging systems revenue increased 122% year-over-year to $59.6 million.
Subscription revenue increased 63% year-over-year to $17.6 million.
Cash on the balance sheet totaled $541.0 million.
Revenue by Segment
Forward Guidance
For the second fiscal quarter ending July 31, 2022, ChargePoint expects revenue of $96 million to $106 million. For the full fiscal year ending January 31, 2023, ChargePoint continues to expect revenue of $450 million to $500 million and Non-GAAP gross margin of 22% to 26%.
Positive Outlook
- Revenue of $96 million to $106 million is expected for the second fiscal quarter ending July 31, 2022.
- Anticipated revenue increase of 80% as compared to the prior year’s same quarter.
- Full fiscal year revenue is expected to be $450 million to $500 million.
- Anticipated revenue increase of 96% as compared to the prior year for the full year.
- Non-GAAP gross margin of 22% to 26% is expected for the full fiscal year.
Challenges Ahead
- Global supply constraints are expected to cause significant headwinds.
- Newer, currently lower margin, products performed strongly relative to more mature, higher margin offerings.
- Supply chain disruptions affected both cost and supply availability.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...