ChargePoint Q2 FY2027 earnings beat sends stock up 70%

ChargePoint stock climbed more than 70% on Thursday after the electric vehicle charging company reported second-quarter fiscal 2027 results that beat Wall Street expectations on both revenue and earnings.

The company reported revenue of $116.1 million for the quarter ended July 31, up 18% from $98.6 million a year earlier. Analysts had expected $105.2 million in revenue and a loss of 85 cents per share, according to CNBC . ChargePoint posted a loss of 35 cents per share on a GAAP basis.

Gross margin improved to 36% from 31% a year earlier, the company said. Results included a one-time tariff refund of approximately $4.2 million, but ChargePoint said its normalized gross margin would have set a new record without that benefit.

The non-GAAP adjusted EBITDA loss narrowed to $4.8 million from $22.1 million in the same quarter a year ago. GAAP net loss fell to $35.6 million from $66.2 million year-over-year.

For the third fiscal quarter ending October 31, ChargePoint guided for revenue of $105 million to $115 million, the company said.

President and Chief Executive Officer Rick Wilmer said the results reflected continued operational discipline. "The second quarter was an exceptional quarter for ChargePoint as we exceeded the high end of our guidance, delivered record non-GAAP gross margin, and managed our cash with extreme rigor," Wilmer said in a statement.

Wilmer said the stock move was "the beginning of the momentum." He noted that ChargePoint has now posted year-over-year revenue growth in each of the past four quarters. "The growth is starting to accelerate," Wilmer said. "It'll be driven substantially by the new products and technology we're putting into the market."

Unlike some EV charging companies, ChargePoint does not own or operate its chargers. Its business model centers on selling equipment, software, and services to businesses and other organizations that want to make charging available at their locations.

The company is toward the end of a three-year plan focused on reducing cash burn. Wilmer said ChargePoint is nearing profitability on an EBITDA basis. "We're approaching that quickly, and we want to get there ASAP," he said.

During the quarter, ChargePoint extended its partnership with Mercedes-Benz to provide charging solutions for fleet operators in the U.K. and Germany, and announced a new overhead fast charging deployment at Portland International Airport, the company said.