Overlooked EV stock surges despite buyers abandoning zero-emission cars

ChargePoint (CHPT) spent most of the past two years as a stock few investors wanted.

Then it reported earnings, and sentiment changed quickly.

The electric vehicle charging company beat expectations on both revenue and profit for its second quarter, and traders pushed the shares sharply higher.

ChargePoint sells commercial-grade Level 2 and DC Fast charging stations, and cloud software that allows property owners to manage prices, usage, and energy demand. There are 4 4,800 physical station locations in the U.S., making its installed base the largest Level 2 commercial footprint in America.

The company's financial performance is particularly impressive given the broader decline in electric vehicle sales since tax credits disappeared, with U.S. EV sales down 27% from a year earlier in the first quarter of 2026, according to Cox Automotive .

Here is what changed, and what it means if you are weighing the stock today.

Why ChargePoint stock jumped after its second-quarter beat

ChargePoint closed at $5.19 before the September 2 report , then rose for two sessions straight.

Most of the move came on Thursday , September 3 , when the shares climbed more than 50% , Proactive reported.

By Friday , they traded near $9.82 , up about 74% over five days.

The rally followed second-quarter fiscal 2027 revenue of $116.1 million , up 18% from a year earlier, which topped company guidance and analyst estimates of about $105 million , CNBC reported.

Chief Executive Rick Wilmer told CNBC the jump marks the start of the company's momentum.

How ChargePoint cut its cash burn to near zero

ChargePoint reported "essentially zero cash burn" for the quarter and kept about $96 million in cash, according to its SEC release .

Non-GAAP gross margin reached a record 38% , or about 35% without a one-time tariff refund, Investing.com reported.

Its GAAP net loss shrank 46% to $35.6 million , down from $66.2 million a year earlier, and its adjusted net loss fell 72% to $9.2 million .

Higher-margin subscription software revenue rose 10% to $43.7 million , enabling the company to earn more from customers it already serves.

What the bull case for ChargePoint now depends on

Supporters see a genuine turnaround forming.

Reaching near-zero cash burn suggests ChargePoint can fund itself without selling new stock or taking on heavy debt.

On an adjusted basis, its quarterly EBITDA loss reduced to $4.8 million from $22.1 million a year earlier, which management called progress toward breakeven.