ChargePoint (NYSE:CHPT) reported fourth-quarter fiscal 2026 revenue of $109 million, finishing at the high end of its guidance range and extending both sequential and year-over-year growth, according to management’s comments on the company’s earnings call for the quarter ended Jan. 31, 2026. Chief Executive Officer Rick Wilmer said the results reflected “a strong finish” to the fiscal year, with record non-GAAP gross margin of 33% and “minimal” cash utilization from operations that came in “much better than planned.”
Quarterly results and segment mix
Chief Financial Officer Mansi Khetani said fourth-quarter revenue increased 3% sequentially and 7% year-over-year. Network charging systems revenue was $58 million, representing 53% of total revenue, up 2% sequentially and 10% year-over-year. Subscription revenue was $42 million, or 39% of total revenue, up 1% sequentially and 11% year-over-year, which Khetani attributed to continued installed-base growth. Other revenue was $9 million, or 8% of total revenue.
Margins, expenses, and cash discipline
Non-GAAP gross margin was 33%, flat sequentially and up 3 percentage points year-over-year, the company said. Khetani added that subscription margin reached “a new GAAP record of 64%” and was higher on a non-GAAP basis, supported by economies of scale and efficiencies in support-related costs. Non-GAAP operating expenses were $58 million, essentially flat versus the prior quarter. Non-GAAP adjusted EBITDA loss was $18 million, compared with a $19 million loss in the prior quarter and a $17 million loss in the year-ago quarter.
On cash, Khetani said ChargePoint made a $40 million payment related to a debt transaction announced in November and ended the quarter with $142 million in cash. Excluding that payment, she said full-year fiscal 2026 net cash usage was $43 million, a significant improvement from $133 million used in the prior fiscal year. She also explained that the debt exchange’s accounting treatment requires future interest payments to be recorded as liabilities on the balance sheet; as capitalized interest is paid down, the corresponding debt balance will decline with “no related interest expense flowing through the P&L.”
Inventory ended the quarter at $215 million, a slight increase from the prior quarter. Khetani said physical inventory was modestly lower, but the balance rose due to foreign exchange impacts on inventory stored in Europe and overhead capitalization, which included tariffs. She said ChargePoint expects a “gradual reduction” in inventory throughout fiscal 2027 as it reaches the tail end of prior commitments with contract manufacturers.
Operational improvements and new KPIs
Wilmer emphasized operational execution as a core pillar of the company’s three-year plan. He said stations down as monitored by the network operations center were reduced by “over half” in the past year and are now below 1%. He added that more than 80% of owner support cases are now proactively created by ChargePoint’s monitoring or driver reports, rather than customers calling in. Wilmer also pointed to “first-time right” deployments improving to above 95% and customer satisfaction scores of 8.5 or higher out of 10 across driver, owner, and home support surveys.
ChargePoint introduced several new key performance indicators during the call, including:
- Software-only managed ports: nearly 130,000 globally, about 30% of ports under management.
- Ports exceeding 30% utilization at least one day per month: more than 100,000 AC ports reached that threshold at least one day in January 2026.
- Monthly active users: 1.48 million at the end of fiscal 2026, up 8% year-over-year.
Wilmer said ChargePoint manages approximately 385,000 ports, including more than 41,000 DC fast chargers and more than 130,000 ports in Europe, and that drivers have access to over 1.37 million public and private charging ports globally through the company’s platform.
Market backdrop, product roadmap, and partnerships
Management described a market environment where EV adoption remains supported by long-term fundamentals despite near-term volatility. Wilmer cited global EV sales growth in 2025, with strong growth in Europe, and said a “wave of sub-$35,000 EVs arriving in 2026” could expand the addressable market. He also highlighted U.S. fast-charging trends, stating that about 18,000 new public DC fast-charging ports were added in 2025 and that expansion was “largely driven by private investment rather than government stimulus.”
On product and software initiatives, Wilmer said ChargePoint plans a “major update” to its mobile app aimed at guiding drivers to available, reliable, amenity-rich, and well-priced charging locations, which management believes can increase utilization and improve site-owner economics. In response to analyst questions on hardware margin, Wilmer said the company has not pushed price increases and does not anticipate doing so, and he tied margin improvement to new platforms. He said the Flex single-port AC product line is ramping with a better margin profile, and he said the company’s next-generation DC product, expected to ramp into production in the second half of the year, has a “substantially better margin profile” and is drawing high market interest due to total cost benefits beyond initial capital expenditure.
Wilmer also cited partnerships and customer wins, including work with Ford Pro in the U.K. and Germany to integrate ChargePoint solutions across home, fleet, and workplace charging, and a multi-year agreement with RAW Charging in the U.K. with an initial commitment valued at $7.5 million. He also noted expanded work with Georgia Power to new locations, including Grady Health System in Atlanta. Wilmer said the partnership with Eaton continues to expand ChargePoint’s reach for next-generation AC and DC solutions, and he highlighted the addition of Chief Product and Software Officer Jaser Faruq to the leadership team.
Guidance and themes from Q&A
For the first quarter of fiscal 2027, ChargePoint guided revenue to a range of $90 million to $100 million, which Khetani said reflects typical seasonality and a prudent approach given the macro environment. Addressing questions about strong utilization trends versus the revenue outlook, management said utilization growth can help trigger sales cycles, but the company typically sees a 5% to 15% reduction in first-quarter revenue versus the fourth quarter due to winter seasonality; management also noted the guidance range includes a year-over-year growth scenario.
In Q&A, Wilmer said the company is increasingly focused on autonomous vehicles as a “bigger near-term opportunity” than eVTOL, and that ChargePoint is investing time to understand any unique charging requirements to serve autonomous fleets. Management also pointed to competitive “attrition” creating market share opportunities, while declining to comment on M&A. On the path to positive EBITDA, executives reiterated a framework built on revenue growth, improving gross margins from new products, and operating expense control, with Khetani adding that non-GAAP OpEx is expected to remain in the current range near term and may decline as engineering prototyping costs for new products taper. Both Wilmer and Khetani also described AI-driven efficiencies as an emerging lever, including automating complex, repetitive knowledge work and increasing code development and testing productivity.
About ChargePoint (NYSE:CHPT)
ChargePoint (NYSE: CHPT) is a leading provider of electric vehicle (EV) charging solutions that designs, develops and markets charging hardware, software and services. The company’s portfolio includes Level 2 AC charging stations for residential, commercial and fleet applications, as well as DC fast charging systems suited for retail, hospitality and public use. ChargePoint’s integrated platform enables site hosts to manage charging infrastructure through cloud-based monitoring, analytics and billing tools, while EV drivers access and control charging sessions via a mobile app or RFID card.
Since its founding in 2007 and headquarters in Campbell, California, ChargePoint has built one of the largest open EV charging networks in the world.
