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 market challenges.

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

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

• Net loss narrowed to $66.2 million, and non-GAAP adjusted EBITDA loss improved to $22.1–$22 million from $34.1–$34 million a year ago.

• Operational focus and restructuring led to improved cash management, margin expansion, and reduced operating expenses.

Financial highlights

• Cash and cash equivalents stood at $194.1–$195 million at quarter-end, with cash usage under $2 million for the quarter and net cash used in operations of $39.1 million for six months.

• Non-GAAP operating expenses were $58.6–$59 million, down 12% year-over-year; GAAP operating expenses were $89.7 million, nearly flat year-over-year.

• Inventory remained flat at $212 million; no new debt drawn, with $150 million revolving credit facility undrawn and no debt maturities until 2028.

• Shares outstanding totaled approximately 23 million (post-split basis).

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 macroeconomic headwinds and project delays.

• Management expects continued variability in revenue growth and ongoing net losses in the near term.

• Focus remains on profitability and further cash burn reduction.