ChargePoint (CHPT) Q2 2027 earnings summary

Executive summary

• Q2 FY27 revenue reached $116.1 million, up 18% year-over-year, surpassing guidance and driven by growth in networked charging systems and subscriptions.

• Net loss narrowed to $35.6 million from $66.2 million year-over-year, reflecting improved gross profit and reduced operating expenses.

• Non-GAAP adjusted EBITDA loss improved to $4.8 million from $22.1 million year-over-year, with record gross margins and reduced cash burn.

• Early shipments of Express Solo, a new advanced DC charging product, began, with strong customer demand and backlog building.

• Strategic focus on operational excellence, AI-driven efficiencies, and expansion in Europe with new leadership appointments.

Financial highlights

• Total revenue for Q2 FY27 was $116.1 million, up 18% year-over-year, driven by strong hardware shipments and higher home sales.

• GAAP gross margin improved to 36%, non-GAAP gross margin reached 38% (35% normalized), and hardware gross margin was 21%.

• Operating expenses (GAAP) decreased to $76.4 million; non-GAAP operating expenses declined to $52.3 million.

• Net loss for the quarter was $35.6 million, a 46% improvement year-over-year; non-GAAP net loss was $9.2 million, down 72%.

• Cash and cash equivalents at quarter-end were $95.7 million, with inventory reduced to $179 million from $204 million.

Outlook and guidance

• Q3 fiscal 2027 revenue guidance is $105 million–$115 million, representing 4% year-over-year growth at the midpoint.

• Gross margins expected to remain at normalized levels (~35%) for the rest of the fiscal year, with further operating expense reductions anticipated.

• Continued inventory reduction expected to improve working capital and support cash generation, with potential for positive cash flow later in the year.

• Management highlights ongoing focus on cost control, margin improvement, and profitable growth.

• Continued investment in networked charging systems and subscription services expected to drive future growth.