ChargePoint Q3 2024 Earnings Report
Key Takeaways
ChargePoint reported Q3 fiscal year 2024 results with revenue of $110.3 million, a 12% decrease year-over-year. The company experienced a GAAP gross margin of negative 22% and a GAAP net loss of $158.2 million. They are reaffirming their plan to achieve positive Non-GAAP Adjusted EBITDA in the fourth quarter of calendar year 2024.
Third quarter revenue was $110.3 million, down 12% year-over-year.
GAAP gross margin was negative 22%, impacted by a $42 million inventory impairment charge.
GAAP net loss was $158.2 million, up from $84.5 million in the prior year's same quarter.
Cash, cash equivalents, and restricted cash totaled $397.4 million as of October 31, 2023.
ChargePoint
ChargePoint
ChargePoint Revenue by Segment
Forward Guidance
ChargePoint reaffirms plan to achieve positive Non-GAAP Adjusted EBITDA in the fourth quarter of calendar year 2024 (Fourth quarter of fiscal 2025).
Revenue & Expenses
Visualization of income flow from segment revenue to net income