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ChargePoint's Comeback Story: Why This EV Stock Is Charging Up AgainChargePoint NYSE: CHPT reported second-quarter fiscal 2027 revenue of $116 million, exceeding its prior guidance range of $100 million to $110 million, as stronger hardware shipments and higher home charging sales lifted results. Revenue rose 14% sequentially and 18% from a year earlier, marking the company’s fourth consecutive quarter of year-over-year growth.
Chief Executive Officer Rick Wilmer said the quarter included record gross margins and “essentially zero cash burn,” while the company began shipping early-access units of its Express Solo DC charging product. The quarter ended July 31, 2026.
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Revenue Mix and Margin Improvement EVgo's 37% Revenue Growth: Forget the Car, Buy the Gas StationNetworked Charging Systems revenue totaled $63 million, representing 54% of total revenue and rising 25% year over year. Subscription revenue was $44 million, or 38% of revenue, up 10% from the prior-year period. Other revenue accounted for $9 million.
By billings vertical, commercial represented 69% of second-quarter billings, followed by fleet at 11%, residential at 10%, and other categories at 11%. North America contributed 82% of revenue, while Europe represented 18%.
ChargePoint Recalibrates: What’s Really Under the HoodNon-GAAP gross margin reached 38%, up seven percentage points sequentially and five points from a year ago. The result included about $4 million of tariff refunds recognized as a one-time reduction in cost of goods sold. Excluding that benefit, normalized non-GAAP gross margin was approximately 35%, still reflecting a three-percentage-point sequential improvement and a two-point year-over-year increase.
Chief Financial Officer Mansi Khetani said higher revenue helped improve fixed-cost absorption, while warranty, inbound freight and warehousing costs also improved. Sales of higher-margin AC products contributed to the quarter’s margin performance. ChargePoint expects gross margins to remain generally near normalized levels for the remainder of the fiscal year, though product mix could cause some variation.
Hardware gross margin was 21%, increasing 13 percentage points from the prior quarter. Subscription gross margin reached 59% on a GAAP basis.
Costs, Cash and Outlook Non-GAAP operating expenses declined to $52 million from $54 million in the first quarter and were down 11% from a year earlier. Khetani said a company-wide cost optimization initiative completed in late July is expected to reduce quarterly non-GAAP operating expenses to below $50 million for the rest of the year.
ChargePoint’s non-GAAP adjusted EBITDA loss narrowed to $5 million, compared with losses of $19 million in the previous quarter and $22 million in the year-earlier period. The company ended the quarter with $96 million in cash, unchanged from the first quarter.
Inventory declined to $179 million from $204 million, releasing working capital that helped fund operations. Khetani said ChargePoint expects inventory to continue falling during the year, which could support cash generation. She said the company could be positioned to generate positive cash flow later in the year, though she noted that cash flow remains subject to multiple variables.
For the third quarter of fiscal 2027, ChargePoint forecast revenue of $105 million to $115 million. The midpoint of that range would represent 4% year-over-year growth. Management said elevated North American home charging sales contributed to the second-quarter revenue beat but are not expected to recur in the third quarter, as those sales can be concentrated around large retail events.
Express Solo Ramp and Strategic Initiatives Wilmer said ChargePoint has started fulfilling backlog with early-access Express Solo units and expects production inventory to be available in its fiscal fourth quarter. The company said its Express architecture demonstrated charging above 600 kilowatts on a passenger vehicle, taking the vehicle from 10% to 80% charge in 11 minutes during a live demonstration at its headquarters.
The company expects Express to become a significant revenue driver as it scales entering fiscal 2028. Wilmer said the platform is intended for applications including highway corridors, autonomous-vehicle fleet depots and high-utilization charging sites. He also said additional variants of the Express architecture targeting different market segments are expected to enter production over the next year and a half.
ChargePoint said it has accounted for supply-chain conditions related to AI data-center construction, including higher memory prices and demand for silicon carbide modules. Wilmer said the company has supplier commitments that support the demand it currently expects.
The company also highlighted its partnership with Eaton, which includes jointly engineered products and go-to-market efforts. During the quarter, ChargePoint and Eaton began a collaboration with Santa Monica Department of Transportation for the agency’s planned transition to a zero-emission Big Blue Bus fleet by 2032. The project calls for 130 DC fast-charging ports featuring ChargePoint’s Express Plus equipment, alongside Eaton electrical infrastructure and energy-management offerings.
Network Growth and Customer Activity ChargePoint said software-only managed ports, which are third-party hardware ports managed through its software platform, increased to 138,750 from 135,000 in the prior quarter. Total managed ports rose to approximately 422,000 from 406,000, including more than 46,950 DC fast chargers and more than 150,000 ports in Europe.
Monthly active users increased to 1.55 million from 1.48 million at the end of April. Globally, ChargePoint drivers had access to nearly 1.5 million public and private charging ports.
During the quarter, ChargePoint cited expanded work with Mercedes-Benz for commercial fleet customers in the United Kingdom and Germany; an agreement with Optimus Energy Solutions to add more than 200 DC ports across the southeastern United States; and a planned deployment at 12 Onvo travel stops in the Northeast. The company also discussed airport, government and transit deployments, including charging infrastructure at Portland International Airport and additional fast-charging sites in Rhode Island.
Wilmer said ChargePoint is increasing its emphasis on Europe and appointed John Saffert as executive vice president and managing director of Europe. The company also said artificial intelligence initiatives are automating business processes, improving customer support and doubling software-engineering productivity, according to management.
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.
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