ChargePoint (CHPT) Q2 2026 earnings summary

Executive summary

• Revenue for the quarter was $98.6–$99 million, at the top end of guidance but down 9–10% year-over-year, with a net loss of $66.2 million, reflecting ongoing challenges in the EV charging market.

• Non-GAAP gross margin reached a record 33%, while GAAP gross margin improved to 31–31.2% from 23.6–24% year-over-year.

• Non-GAAP adjusted EBITDA loss improved to $22.1–$22 million, down from $34.1 million a year ago.

• Cash and cash equivalents stood at $194.1–$195 million at quarter-end, with strong cash management and usage under $2 million for the quarter.

• Strategic partnerships, notably with Eaton and GM, are accelerating innovation, with new modular DC fast charging products launched and first revenue deals recorded.

Financial highlights

• Subscription revenue grew 10% year-over-year to $39.9–$40 million, now 40% of total revenue.

• Networked charging systems revenue was $50.4–$50 million, down 21% year-over-year.

• Non-GAAP operating expenses decreased 12% year-over-year to $58.6 million.

• GAAP operating expenses were $89.7 million, nearly flat year-over-year.

• Inventory remained flat at $212 million.

Outlook and guidance

• Q3 FY26 revenue guidance is $90 million to $100 million.

• Non-GAAP adjusted EBITDA breakeven timeline extended beyond this year due to macro headwinds and project delays.

• Management expects continued variability in revenue growth due to market demand and macroeconomic factors.

• Cash on hand and customer sales are expected to meet working capital needs for at least the next twelve months.

• Continued focus on profitability and reducing cash burn.