ChargePoint (CHPT) Q3 2025 earnings summary

Executive summary

• Q3 FY25 revenue was $99.6M, down 10% year-over-year, with subscription revenue up 19% to $36.4M.

• GAAP gross margin improved to 23% from (22)% year-over-year, reflecting the absence of prior year inventory impairment.

• Net loss narrowed to $77.6M from $158.2M year-over-year; non-GAAP adjusted EBITDA loss reduced 71% to $28.6M.

• Operating expenses decreased 30% year-over-year to $91M GAAP and 28% to $58.6M non-GAAP, driven by cost reduction measures and workforce reorganizations.

• Cash and equivalents stood at $219.8M with no debt maturities until 2028 and an undrawn $150M credit facility.

Financial highlights

• Networked charging systems revenue fell 29% year-over-year to $52.7M, while subscription revenue grew 19% to $36.4M.

• GAAP gross margin rose to 23% from (22)% year-over-year; non-GAAP gross margin increased to 26% from (18)%.

• GAAP net loss was $77.6M, down 51% year-over-year; non-GAAP pre-tax net loss was $40.7M, down 62%.

• Non-GAAP adjusted EBITDA loss was $28.6M, a 71% improvement year-over-year.

• Cash used in operations for the nine months was $144.3M, improved from $287.5M in the prior year.

Outlook and guidance

• Q4 FY25 revenue guidance is $95M to $105M.

• Targeting positive non-GAAP adjusted EBITDA in a quarter during FY26.

• Management expects continued operating losses and negative cash flows in the near term, with profitability dependent on broader EV adoption.

• The company believes its cash on hand and available funding sources will satisfy working capital and capital requirements for at least the next twelve months.