ChargePoint ripped higher on Thursday, climbing more than 70% during the afternoon session after a better than expected quarter and an outlook that hinted at more progress to come. It was the biggest pop since last year's reverse split, which lifted the stock enough to stay compliant with the New York Stock Exchange's $1 minimum. For color on the move, a quote shown at 3:26 PM EDT displayed $9.27, up $4.08 or 78.61%.
After the close Wednesday, ChargePoint reported $116.1 million in sales and a loss of 35 cents per share for the quarter. Analysts tracked by LSEG had been looking for $105.2 million and an 85 cent loss, so the company outpaced expectations. Results got a lift from roughly $4.2 million tied to a one time tariff refund, though ChargePoint said its underlying gross margin would still have notched a new high without that boost. For Q3 of fiscal 2027, the company projected sales in a range of $105 million to $115 million, and the midpoint implies roughly 4% year-over-year growth.
"The growth is starting to accelerate," CEO Rick Wilmer told CNBC, adding that momentum should come largely from new products and technology. ChargePoint doesn't run the chargers themselves. Instead, it sells hardware, software, and services to customers like companies that want charging available for their staff or patrons.
As part of its growth push, the firm is rolling out faster Level 3 units in Europe and next generation Level 2 and Level 3 gear in the U.S. It is also leaning on AI to speed up customer charging sessions, shrink software development timelines, and boost efficiency across the business. Wilmer said the company has now delivered four straight quarters of year over year growth and expects that pace to quicken, especially into next year.
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EV buzz cooled over the past year after U.S. federal support was eliminated, with the up to $7,500 consumer incentive for purchasing an EV coming to a close. Even so, Wilmer argued the "doom and gloom" is overstated, pointing out that automakers are still moving EVs and used market demand is firm with gas prices high, even if the overall shift away from gas powered vehicles is trailing earlier forecasts. He also highlighted a three-year roadmap aimed at slashing cash burn and moving the business into the black, with net losses narrowed to $35.6 million in the latest quarter from $125.3 million three years ago. Although ChargePoint has not committed to a specific date for profitability, Wilmer said the company is close to achieving positive EBITDA and added, "We're approaching that quickly, and we want to get there ASAP." For your wallet, the punchline is simple: a clean beat, record underlying margins, modest growth guidance, new fast chargers, and AI driven efficiency are the levers the company says could carry this story into next year.
