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Oct 31, 2022
ChargePoint Q3 2023 Earnings Report
ChargePoint delivered growth exceeding 90% year-over-year and scaled the business to meet strong demand.
Key Takeaways
ChargePoint reported a strong third quarter with revenue of $125.3 million, representing 93% year-over-year growth. The company's GAAP and Non-GAAP gross margin both improved 1 percentage point quarter-over-quarter. ChargePoint is guiding to fourth quarter revenue of $160-$170 million and revised full-year revenue guidance upward to $475 million to $485 million.
Third quarter fiscal 2023 revenue of $125 million representing 93% year-over-year growth
GAAP and Non-GAAP gross margin both improved 1 percentage point quarter-over-quarter
ChargePoint guides to fourth quarter fiscal 2023 revenue of $160-$170 million
Full-year revenue guidance range revised upward $5 million from previous midpoint to $475 million to $485 million
Revenue by Segment
Forward Guidance
For the fourth fiscal quarter ending January 31, 2023, ChargePoint expects revenue of $160 million to $170 million, representing an anticipated increase of 108% compared to the prior year’s same quarter. They also anticipate a sequential Non-GAAP gross margin improvement from the third quarter's 20%. For the full fiscal year ending January 31, 2023, ChargePoint expects revenue of $475 million to $485 million and Non-GAAP operating expenses of $325 million to $335 million.
Positive Outlook
- Revenue of $160 million to $170 million in Q4, representing an anticipated increase of 108% compared to the prior year’s same quarter
- Sequential Non-GAAP gross margin improvement from the third quarter's 20%
- Revenue of $475 million to $485 million for the full fiscal year
- Non-GAAP operating expenses of $325 million to $335 million for the full fiscal year
- Anticipated decrease of $30 million in Non-GAAP operating expenses compared to previous guidance at midpoint
Challenges Ahead
- Annual gross margin below previous guidance
- Impact of the ongoing COVID-19 pandemic
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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