ChargePoint Stock Jumps On Raised FY22 Revenue Guidance

ChargePoint Holdings Inc CHPT reported second-quarter revenue growth of ~61% year-over-year to $56.12 million, beating the consensus of $49.06 million.
The company says revenue growth was significant in North America and Europe across the commercial, fleet, and residential verticals.
Revenue by segments: Networked charging systems $40.87 million (+91.3% Y/Y), Subscriptions $12.08 million (+23.15% Y/Y) and Others $3.16 million (-16.2 Y/Y).
EPS was $(0.29). Net loss attributable to common stockholders narrowed to $(92.4) million.
Gross profit increased by 19.4% Y/Y to $10.78 million, and margin contracted by 660 bps to 19.2%.
Loss from operation expanded to $(74.29) million, compared to a loss of $(23.5) million a year ago.
The company held cash and equivalents of $618.5 million as of July 31, 2021.
ChargePoint cash used in operating activities year-to-date was $61.19 million, compared to $50.07 million a year ago.
The company’s activated ports exceed 118,000 as of July 31, with over 5,400 in Europe and over 3,700 DC fast charge ports.
Q3 outlook: ChargePoint expects revenue of $60 million - $65 million versus the consensus of $54.65 million.
FY22 Outlook: The company expects revenue of $225 million - $235 million (prior $195 million - $205 million) versus the consensus of $206.56 million.
Price Action: CHPT shares are trading higher by 14.23% at $24.25 during the premarket session on Thursday.

Momentum8.65

Growth18.03

Quality-

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