ChargePoint Q4 2022 Earnings Report
Key Takeaways
ChargePoint reported a strong fourth quarter with revenue increasing 90% year over year and full year revenue increasing 65% year over year, both exceeding the top end of guidance. The company expanded its activated port count and continued to gain momentum with fleet companies.
Quarterly revenue increased 90% year over year.
Annual revenue increased 65% year over year.
Over 174,000 activated ports as of January 31, with approximately 51,000 in Europe.
Fleet momentum continued with leading fleet companies.
ChargePoint
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ChargePoint Revenue by Segment
Forward Guidance
ChargePoint expects revenue of $72 million to $77 million for the first fiscal quarter ending April 30, 2022. For the full fiscal year ending January 31, 2023, ChargePoint expects revenue of $450 million to $500 million.
Positive Outlook
- Revenue of $450 million to $500 million for fiscal year 2023.
- Non-GAAP gross margin of 22% to 26%.
- Non-GAAP operating expenses of $350 million to $370 million.
- Anticipated revenue increase of 96% compared to the prior year.
- Guidance excludes amortization expense of acquired intangible assets.
Challenges Ahead
- Guidance excludes stock-based compensation expense.
- Guidance excludes non-recurring costs associated with restructuring.
- Guidance excludes earn-out-related payroll tax expense.
- Guidance excludes professional services fees related to acquisitions and security offerings.
- ChargePoint is not be able to present a reconciliation of non-GAAP financial guidance to the corresponding GAAP measures because certain items that impact these measures are uncertain or out of our control, or cannot be reasonably predicted, including stock-based compensation expense, without unreasonable effort.
Revenue & Expenses
Visualization of income flow from segment revenue to net income