ChargePoint Holdings Inc. Reports Fourth Quarter and Full Fiscal Year 2025 Financial Results

In a statement reflecting on the company’s performance, Mansi Khetani, CFO of ChargePoint, noted, “We delivered significant sequential improvement in cash usage throughout fiscal 2025.” ChargePoint reported a notable reduction in cash used for operating activities, which plummeted to $3 million in the fourth quarter from $31 million in the previous quarter. This improvement was attributed to higher gross margins, reduced operating expenses, lower inventory levels, and overall enhancements in working capital.

For the fourth quarter, ChargePoint recorded revenue of $101.9 million, a decrease of 12% compared to $115.8 million in the same quarter of the previous year. The revenue breakdown indicated that networked charging systems revenue fell to $52.6 million, down 29% from $74.0 million year-over-year, while subscription revenue rose to $38.3 million, marking a 14% increase from $33.5 million in Q4 2024.

The company reported a GAAP gross margin of 28%, a significant improvement from 19% in the prior year’s quarter. The non-GAAP gross margin also improved to 30%, up from 22% year-over-year.

ChargePoint successfully reduced its operating expenses, with GAAP operating expenses down 27% to $83.6 million from $115.3 million in Q4 2024. Non-GAAP operating expenses decreased by 30%, falling to $52.0 million from $74.7 million.

The fourth quarter saw a GAAP net loss of $64.6 million, representing a 32% improvement from a loss of $94.7 million in the same period last year. The non-GAAP pre-tax net loss was $30.2 million, down 41% from $51.6 million in Q4 2024. Non-GAAP Adjusted EBITDA Loss also improved significantly, decreasing 62% to $17.3 million from $45.3 million.

As of January 31, 2025, ChargePoint had cash and cash equivalents totaling $225.0 million. The company’s $150.0 million revolving credit facility remains undrawn, and it has no debt maturities until 2028, positioning it favorably for future growth.

ChargePoint reported approximately 456 million shares of common stock outstanding as of the end of the fourth quarter.

For the full fiscal year 2025, ChargePoint generated revenue of $417.1 million, down 18% from $506.6 million in the previous year. Networked charging systems revenue was $234.8 million, down 35%, while subscription revenue rose to $144.3 million, a 20% increase year-over-year.

The full year saw a remarkable increase in gross margin, with GAAP gross margin at 24% compared to 6% in the prior year, and non-GAAP gross margin at 26%, up from 8%.

ChargePoint’s full year GAAP operating expenses decreased 26% to $353.7 million from $480.1 million in fiscal 2024, with non-GAAP operating expenses showing a similar reduction to $243.4 million from $330.0 million.

The full fiscal year net loss was $282.9 million, compared to $457.6 million the previous year. Non-GAAP pre-tax net loss was $159.2 million, down from $296.7 million in fiscal 2024.

ChargePoint highlighted several strategic partnerships and initiatives aimed at expanding its market presence:

Looking ahead, ChargePoint expects revenue for the first fiscal quarter ending April 30, 2025, to fall within the range of $95 million to $105 million. The company remains committed to achieving positive non-GAAP Adjusted EBITDA during a quarter in fiscal year 2026.

ChargePoint's financial results reflect a period of adjustment and strategic refinement, positioning the company to navigate the evolving landscape of electric vehicle infrastructure and capitalize on growth opportunities in the coming years.