ChargePoint Holdings Inc. reported fiscal second-quarter 2027 revenue of $116 million, up 18% year-over-year and 14% sequentially, marking the fourth consecutive quarter of year-over-year growth. The company posted an adjusted loss of $1.35 per share, beating the expected loss of $1.60 by 25 cents. Revenue exceeded the consensus estimate by $10.57 million, a 10% surprise.
Non-GAAP gross margin reached a record 38%, up 7 percentage points from the prior quarter and 5 points year-over-year. Normalized gross margin stood at 35%, excluding $4.2 million in tariff refunds. Hardware gross margin improved to 21%, while subscription gross margin remained at 59% on a GAAP basis. Adjusted EBITDA loss narrowed to $5 million, compared with $19 million in the first quarter and $22 million a year earlier. Operating expenses, on a non-GAAP basis, declined 4% sequentially and 11% year-over-year to $52 million.
Cash and cash equivalents totaled $96 million, unchanged from the prior quarter, as the company achieved "essentially zero cash burn." Inventory decreased to $179 million from $204 million in the first quarter. Last twelve months revenue stood at $415.4 million, a 2% increase year-over-year, with a gross profit margin of 30.81%.
ChargePoint maintained fiscal third-quarter revenue guidance between $105 million and $115 million and expects operating expenses to remain below $50 million per quarter for the remainder of the fiscal year. Gross margin is projected to stay around the normalized 35% level through the fiscal year.
Shares of ChargePoint rose 17.9% in after-hours trading to $6.12 following the results, after closing at $5.19 in regular trading. The stock has traded in a 52-week range of $4.44 to $12.61.
CEO Rick Wilmer described the quarter as exceptional, highlighting record gross margins and zero cash burn. He emphasized the company's leadership in intelligent electrification and e-mobility, noting the successful demonstration of a 600-plus-kilowatt charge on a passenger vehicle, achieving an 11-minute charge from 10% to 80% state of charge. Wilmer stated that the achievement was based on a production system developed internally, positioning ChargePoint as a leader in the future of refueling.
