ChargePoint (NYSE:CHPT) reported $99 million in revenue for fiscal Q2 2026, with a 33% non-GAAP gross margin, the highest since going public. The company has $195 million in cash on hand and over 363,000 managed ports globally. Subscription revenue accounted for 40% of total revenue, and the company is targeting non-GAAP adjusted EBITDA breakeven in future quarters. ChargePoint is operationalizing its partnership with Eaton, launching new DC charging solutions and bidirectional home charging products in Europe. The company anticipates improved hardware gross margins and broader market reach with these new products.
CEO Wilmer cited concerns about the forthcoming expiration of the Consumer 30D EV tax and 30C alternative fuel vehicle refueling credit, impacting future EV adoption. The company is working to reduce inventory and free up cash, expecting fiscal 2026 revenue between $90 million to $100 million with a cautious outlook. ChargePoint’s CFO, Katani, noted that non-GAAP gross margins improved sequentially to 33%, driven by higher hardware margins and subscription margins. The company is managing operating expenses carefully while balancing investments for future growth and margin expansion.
The company’s collaboration with GM is progressing, with nearly a dozen sites and over 50 new fast charging ports launched this year. ChargePoint is strategically positioned for growth in European markets, where EV sales have seen a 26% year-over-year increase. CEO Wilmer indicated a shift of focus to stronger pipeline overseas, particularly in Europe. The company’s long-term thesis remains intact, with a focus on innovation, new product development, and operationalizing partnerships to drive growth and profitability.
ChargePoint anticipates continued improvement in subscription margins, hardware gross margins, and overall revenue growth trajectory. The company has been navigating tariffs effectively, with a spread-out manufacturing base across the globe to manage tariffs impact. Consolidation in the industry is anticipated, with ongoing industry consolidation activity observed. The advantages of consolidation include OpEx reduction, greater network scale, and improved economic viability for players in the market.
Read more at Nasdaq: ChargePoint (CHPT) Q2 2026 Earnings Transcript