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Jan 31, 2022
ChargePoint Q4 2022 Earnings Report
ChargePoint delivered strong results, exceeding revenue guidance and demonstrating technology leadership.
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
ChargePoint
ChargePoint Revenue by Segment
Revenue by Segment
Networked Charging Systems Revenue
CapyFin.comSubscriptions Revenue
CapyFin.comOther Revenue
CapyFin.com 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