ChargePoint reported fiscal second-quarter 2027 revenue of $116 million, an 18% increase from the prior year and a 14% rise sequentially, marking the fourth consecutive quarter of year-over-year growth. The company posted an adjusted loss of $1.35 per share, beating analyst estimates of a $1.60 loss by 25 cents. Revenue exceeded the $105.43 million consensus forecast by $10.57 million, a 10% surprise.
Gross margins expanded to a record 38% on a non-GAAP basis, up seven percentage points from the prior quarter and five points year-over-year. Excluding $4.2 million in non-recurring tariff refunds, normalized gross margin stood at 35%. Hardware gross margin rose to 21%, while subscription gross margin reached 59% on a GAAP basis. Non-GAAP operating expenses declined 4% sequentially and 11% year-over-year to $52 million, contributing to a narrowed adjusted EBITDA loss of $5 million compared with $19 million in the first quarter and $22 million a year earlier.
The company maintained its cash position at $96 million, with management noting "essentially zero cash burn." Inventory decreased to $179 million from $204 million in the prior quarter. Over the last twelve months, revenue totaled $415.4 million, a 2% increase from the prior period, with gross profit margin at 30.81%.
In after-hours trading, ChargePoint shares jumped 17.93% to $6.12, following a 2.08% decline to $5.19 during regular trading. The stock has traded between $4.44 and $12.61 over the past 52 weeks.
Management provided fiscal third-quarter guidance for revenue of $105 million to $115 million, with gross margins expected to remain near the normalized 35% level for the remainder of the fiscal year. Operating expenses are projected to stay below $50 million per quarter, following a cost-optimization initiative completed in late July. The company aims to achieve adjusted EBITDA positivity and potential cash flow breakeven later in the year, supported by further inventory reductions.
ChargePoint highlighted progress on its Express Solo DC charging platform, with early access units now shipping and production scaling planned for the fourth quarter. The firm co-engineered the platform with Eaton. In a demonstration, ChargePoint achieved a 600-plus-kilowatt charge on a passenger vehicle, replenishing 10% to 80% state-of-charge in 11 minutes. The company operates over 422,000 managed ports globally.
Strategic partnerships include collaborations with Mercedes-Benz for fleet electrification in the UK and Germany, and deals with Optimus Energy Solutions and Onvo to expand DC charging networks in the U.S. ChargePoint also announced a $56 million project with the Santa Monica Department of Transportation and Eaton to transition the city's bus fleet to zero emissions by 2032, deploying 130 DC fast charging ports.
