US ▾
CHPT
Earnings call · Jul 2026 (Q2 FY27)

ChargePoint Holdings Q2 FY27 earnings call CHPT

Sep 2, 2026 Source

Executive summary

ChargePoint Q2 FY27 — Record Gross Margins & Zero Cash Burn

ChargePoint delivered a strong quarter, exceeding revenue guidance and achieving record gross margins, driven by operational efficiencies and a favorable product mix. The company also reached effectively zero cash burn, reflecting disciplined cost management and inventory reduction. Strategic initiatives, including the launch of Express Solo and AI integration, are positioning ChargePoint for accelerated growth and sustained profitability in the evolving EV charging market.

Highlights

5

  • Revenue of $116 million decisively beat guidance, up 18% YoY.

  • Achieved all-time record non-GAAP gross margin of 38%, or 35% normalized.

  • Effectively achieved zero cash burn in Q2, ending with $96 million cash.

  • Non-GAAP operating expenses reduced to $52 million, an 11% decrease YoY.

  • Began shipping early access units of Express Solo, with strong customer demand.

Concerns

1

  • Supply chain constraints for memory and silicon carbide modules

Guidance & targets

CategoryTargetConfidence
Revenue
$105 million to $115 million
high materiality
High
Non-GAAP operating expenses
below $50 million
medium materiality
High
Gross margins
remain generally in line with these normalized levels
medium materiality
Medium
Inventory
continue declining
medium materiality
High
Cash flow breakeven
could position us to generate positive cash flow
high materiality
Medium

Segment performance

SegmentRevenueYoYQoQMargin
North America
Accounted for 82% of total revenue.
82% of total revenue———
Europe
Accounted for 18% of total revenue, with a growing install base.
More than 150,000 ports located in Europe
18% of total revenue———
Network Charging Systems
Revenue up 18% sequentially and 25% year-over-year.
54% of total revenue
$63 million25%18%—
Subscription
Revenue up 7% sequentially and 10% year-over-year.
38% of total revenue
$44 million10%7%—
Other Revenue
Representing the remaining 8% of total revenue.
8% of total revenue
$9 million———

CHPT operating KPIs by quarter

CHPT operating KPIs stated on its earnings calls, by fiscal quarter
KPI Apr 2026 Q1 FY27This call Jul 2026 Q2 FY27Change vs prior quarter
Software-only managed ports
135K In terms of key performance indicators, including the new ones we introduced last quarter, software-only managed ports defined as third-party hardware ports managed by ChargePoint software grew to 135,000 from 130,000 last quarter. Source transcript
138.75K Turning to our key performance indicators, software-only managed ports, defined as third-party hardware ports managed by the ChargePoint software platform, grew to 138,750 from 135,000 last quarter. Source transcript
+2.8%
Ports exceeding 30% utilization on at least 1 day in a month AC ports
100K+ The share of ports exceeding 30% utilization on at least 1 day and a month, which we think is an important leading indicator for expansion demand remains slightly over 100,000 AC ports in April 2026. Source transcript
141K Share of ports exceeding 30% utilization at least 1 day in a month, an important leading indicator for expansion demand, reached 141,000 AC ports compared to slightly over 100,000 AC ports in April 2026. Source transcript
—
Monthly active users
1.48M+ Monthly active users, the equivalent of our user community slightly increased above 1.48 million active users at the end of April. Source transcript
1.55M Monthly active users, the equivalent of our user community, increased to 1.55 million versus 1.48 million active users at the end of April. Source transcript
—
Managed ports
~406K ChargePoint now manages approximately 406,000 ports up from 385,000 ports last quarter, including more than 44,600 DC fast chargers up from 41,000 and more than 145,000 ports located in Europe, up from 131,000. Source transcript
~422K ChargePoint now manages approximately 422,000 ports, up from 406,000 ports last quarter, including more than 46,950 DC fast chargers, up from 44,650, and more than 150,000 ports located in Europe. Source transcript
—
Managed ports DC fast chargers
44.6K+ ChargePoint now manages approximately 406,000 ports up from 385,000 ports last quarter, including more than 44,600 DC fast chargers up from 41,000 and more than 145,000 ports located in Europe, up from 131,000. Source transcript
46.95K+ ChargePoint now manages approximately 422,000 ports, up from 406,000 ports last quarter, including more than 46,950 DC fast chargers, up from 44,650, and more than 150,000 ports located in Europe. Source transcript
—
Managed ports Europe
145K+ ChargePoint now manages approximately 406,000 ports up from 385,000 ports last quarter, including more than 44,600 DC fast chargers up from 41,000 and more than 145,000 ports located in Europe, up from 131,000. Source transcript
150K+ ChargePoint now manages approximately 422,000 ports, up from 406,000 ports last quarter, including more than 46,950 DC fast chargers, up from 44,650, and more than 150,000 ports located in Europe. Source transcript
—
Accessible charging ports
1.41M+ Globally, ChargePoint drivers have access to over 1.41 million public and private charging ports versus 1.37 million last quarter. Source transcript
<1.5M Globally, ChargePoint drivers have access to almost 1.5 million public and private charging ports versus slightly over 1.4 million last quarter. Source transcript
—

Operating figures the company states on every call, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.

Orderbook & backlog

Express Solo Backlog building Q2 FY27

Early access units are substantially committed, and the market is telling us exactly what we expected. Express is the product the industry has been waiting for.

Product announcements

ProductTypeDetails
Express Sololaunch

Deals & partnerships

Eaton Deep co-engineered technology and go-to-market partnership for integrated electrical infrastructure, intelligent power management software, and charging hardware.

As the world's leading intelligent power management company, Eaton brings scale, global distribution, and 100-plus years of electrical infrastructure expertise. ChargePoint brings the most intelligent and performant charging platform, the best software, and relentless product innovation.

Mercedes-Benz Continued expansion of long-standing relationship to simplify fleet electrification for Mercedes commercial customers.

Extending our work together to simplify fleet electrification for Mercedes commercial customers in the U.K. and Germany.

Optimus Energy Solutions Deal to grow charging network by more than 200 DC ports across the Southeast.

Optimus chose ChargePoint because when you are scaling a high-utilization network, there is only 1 platform that delivers the full stack: hardware, software, network management, and a rich suite of services.

Onvo Deployment of DC fast charging solutions at a dozen travel stops along major highways in the Northeast.

Highway corridor charging is a strategically important and growing segment.

Portland International Airport Significant deployment redefining how airports approach rental car electrification.

Airports are an underserved and rapidly evolving market for EV infrastructure.

Rhode Island Office of Energy Resources Continued expansion of a long-standing government partnership dating back to 2014, with over 140 charging ports across 95 sites active.

Recently deployed a new DC fast charging site in Newport. And additional DC fast charging sites are expected to come online as the year progresses.

Santa Monica Department of Transportation Collaboration with Eaton to enable the agency's transition to a 0-emission Big Blue Bus fleet by 2032. $56 million investment by 2032

Big Blue Bus plans to deploy 130 DC fast charging ports exclusively featuring the Express Plus line of ChargePoint equipment powered by Eaton.

Risks & headwinds

Supply chain constraints for memory and silicon carbide modules

memory prices have increased; Silicon carbide modules are also in demand

Mitigation:we've recognized all of that in our product costs and pricing forecasts; we've got strong partnerships there and commitments to the supply chain to get what we need.

What to watch in Q3 FY27

Normalized Gross Margin Trajectory

balance of the fiscal year
Current 35%
Target remain generally in line with these normalized levels

Why it matters

Indicates the sustainability of operational efficiencies and product mix benefits.

Looking ahead, we expect gross margins to remain generally in line with these normalized levels for the balance of the fiscal year.

Q&A highlights

How sustainable are the improved margins, considering revenue mix and subscriptions? What is the future cadence of product introductions?

Mansi explained margin improvement was due to hardware margins (scale, warranty, freight, warehousing costs) and product mix (more higher-margin AC products). Subscription margins also improved. Richard stated innovation will continue, with variants of Express Solo and new innovations across all product lines planned for the next 1.5 years and beyond.

“I think, Colin, the innovation drumbeat is going to continue as far into the future as we can see.”

asked by Colin Rusch · answered by Richard Wilmer

2 min read 6 chapters

Detailed narrative

Q2 FY27 Performance Highlights

ChargePoint reported Q2 FY27 revenue of $116 million, surpassing its guidance range of $100 million to $110 million. This marks the fourth consecutive quarter of year-over-year growth, with an 18% increase. The company achieved an all-time record non-GAAP gross margin of 38%, which was 35% excluding a $4 million tariff refund. Operating expenses were reduced to $52 million, an 11% YoY decrease, contributing to an adjusted EBITDA loss narrowing to $5 million.

Express Solo Launch and Future Architecture

ChargePoint began shipping early access units of Express Solo, its new DC charging architecture co-engineered with Eaton. This platform demonstrated a 600-plus kilowatt charge, charging a passenger vehicle from 10% to 80% state of charge in 11 minutes. Express Solo is designed for ultra-high-power highway corridors, autonomous vehicle fleet depots, and premium CPO deployments, with variants planned for different vertical markets and use cases over the next 1.5 years.

Strategic Partnerships and Customer Wins

The partnership with Eaton is deepening, focusing on co-engineered technology and go-to-market strategies for integrated electrical infrastructure, intelligent power management software, and charging hardware. Key customer wins include expanding the relationship with Mercedes-Benz for fleet electrification, a deal with Optimus Energy Solutions for over 200 DC ports, and a significant deployment at Portland International Airport. The company also partnered with Santa Monica Department of Transportation to electrify its Big Blue Bus fleet by 2032, deploying 130 DC fast charging ports.

Market Dynamics and EV Adoption

The economic case for EV ownership is strengthening in North America, with average US gas prices at $4.10 per gallon in late July, up 31% YoY. Used EV sales increased 5.5% MoM and 24.7% YoY in May. Europe shows even stronger tailwinds, with EV sales climbing 33% YoY in July, including 81% growth in France and 43% in Britain. Regulatory tailwinds and expanding EV models are driving sustained growth.

AI Integration and Operational Efficiency

ChargePoint is leveraging AI to compress software development cycles, automate business processes, and enhance customer support, leading to a flatter organizational structure and increased efficiency. This AI-driven approach is contributing to reduced operating expenses and improved operating leverage, allowing the company to achieve more with less without compromising execution.

Capital-Light Model and Cash Management

The company's capital-light business model enabled effectively zero cash burn in Q2, with $96 million cash remaining. This was supported by strong execution on inventory reduction initiatives, which saw inventory decrease to $179 million from $204 million in the prior quarter, releasing working capital to fund operations. Inventory is expected to continue declining, further improving cash generation.

AI-generated summary of the company's earnings call. Not investment advice.