NYSE$CHPT
Chargepoint Holdings Inc. · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
ChargePoint experienced revenue growth and addressed supply chain issues.
ChargePoint reported a 39% year-over-year revenue increase to $150.5 million for Q2 2024. The company took an inventory impairment charge to address supply chain issues and is implementing cost-saving measures. They also reaffirmed their plan to achieve positive Non-GAAP Adjusted EBITDA in Q4 of calendar year 2024.
- Second quarter revenue reached $150 million, a 39% increase year-over-year.
- GAAP gross margin was 1%, and non-GAAP gross margin was 3%, impacted by an inventory impairment charge.
- The company is reducing operating expenses by an estimated $30 million annually.
- Revenue guidance for the third quarter is $150 - $165 million, and annual revenue guidance is $605 - $630 million.
Headline financials
Revenue & EPS history
ChargePoint · Revenue · Quarterly
$150M
Revenue by segment
ChargePoint · $151M total across 3 segments · Q2 2024
- Networked Charging Systems$115M+36.3%76.1%
- Subscriptions$30M+48.2%19.9%
- Other$5.91M+51.5%3.9%
Forward guidance
ChargePoint anticipates revenue between $150 million and $165 million for the third fiscal quarter and between $605 million and $630 million for the full fiscal year.
Tailwinds
- Revenue of $150 million to $165 million for the third fiscal quarter ending October 31, 2023.
- Anticipated revenue increase of 26% compared to the prior year at the midpoint.
- Non-GAAP gross margin of 22 to 25% for the third fiscal quarter.
- Non-GAAP operating expenses of $81 million to $84 million for the third fiscal quarter.
- Revenue of $605 million to $630 million for the full fiscal year ending January 31, 2024.
Headwinds
- Uncertainty regarding stock-based compensation expense.
- Uncertainty regarding amortization expense of acquired intangible assets.
- Uncertainty regarding professional services fees associated with acquisitions and registration filings.
- Uncertainty regarding non-cash charges related to tax liabilities.
- Uncertainty regarding non-recurring restructuring costs.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2024
+0.8%
Avg return
Earnings day
-2.2%
Avg return
5 days after
-6.7%
Avg return
30 days after
52%
13 / 25 earnings
Positive
+21.8%
Q3 2026
Best reaction
-18.2%
Q2 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2027 | +7.9% | -10.0% | — | |
| Q4 2026 | -9.2% | -16.8% | -26.2% | |
| Q3 2026 | +21.8% | +9.5% | -17.4% | |
| Q2 2026 | -6.7% | -2.6% | +10.8% | |
| Q1 2026 | -4.6% | -3.0% | -39.1% | |
| Q4 2025 | +9.6% | +4.5% | -12.6% | |
| Q3 2025 | +16.4% | +20.7% | +0.0% | |
| Q2 2025 | -18.2% | -24.7% | -16.5% | |
| Q1 2025 | +8.9% | +6.0% | +8.9% | |
| Q4 2024 | -6.8% | -7.2% | -12.1% | |
| Q3 2024 | +13.1% | +17.1% | +12.1% | |
| Q2 2024 | -13.4% | -20.8% | -40.6% | |
| Q1 2024 | -6.2% | -2.1% | -9.1% | |
| Q4 2023 | +0.0% | -7.3% | -5.5% | |
| Q3 2023 | -6.3% | -12.3% | -23.3% | |
| Q2 2023 | +8.2% | -3.6% | -0.7% | |
| Q1 2023 | -7.4% | +8.3% | +1.8% | |
| Q4 2022 | +5.0% | +10.1% | +37.9% | |
| Q3 2021 | +1.2% | -2.6% | -16.3% | |
| Q3 2022 | +1.2% | -2.6% | -16.3% | |
| Q2 2021 | +8.6% | +4.1% | -8.7% | |
| Q1 2021 | +3.0% | +8.1% | +17.3% | |
| Q4 2020 | -2.8% | -13.7% | -3.4% | |
| Q4 2021 | -2.8% | -13.7% | -3.4% | |
| Q3 2020 | +0.5% | +0.5% | +0.9% | |
| Q2 2020 | — | — | — | |
| Q1 2019 | — | — | — |
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