Free cash flow remains persistently negative, with margins reaching -61.7% in 2025Q1, as the company struggles to convert revenue into sustainable cash generation amidst high operational expenditures.
| Cash from Operations | -66.43M | -62.84M | -146.95M | -328.94M | -267.05M | -157.18M | -91.85M | -87.94M | -100.55M |
| Operating CF Margin % | - | -15.28% | -35.23% | -64.93% | -57.05% | -64.86% | -62.7% | -60.85% | -109.25% |
| Operating CF Growth % | 157.74% | 57.24% | 55.33% | -23.18% | -69.9% | -71.13% | -4.45% | 12.54% | - |
| Net Income | -206.28M | -220.2M | -277.07M | -457.61M | -344.46M | -132.57M | -197.02M | -134.33M | -108.09M |
| Depreciation & Amortization | 26.45M | 27.05M | 29.19M | 28.48M | 25.05M | 17.4M | 10.08M | 7.7M | 4.09M |
| Stock-Based Compensation | 46.83M | 64.69M | 75.65M | 117.33M | 93.35M | 67.33M | 4.95M | 2.94M | 1.71M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | -3.92M | 74.54M | 875K | 0 |
| Other Non-Cash Items | 11.3M | 17.18M | 42.74M | 85.64M | 23.45M | -122.47M | 5.41M | 5.81M | 14.9M |
| Working Capital Changes | 55.28M | 48.45M | -17.47M | -102.79M | -64.44M | 17.05M | 10.2M | 29.07M | -13.15M |
| Change in Receivables | 18.37M | 12.89M | 17.37M | 36.51M | -94.6M | -38.89M | 3.29M | -8.7M | -2.73M |
| Change in Inventory | 20.11M | 7.17M | -17.05M | -173.66M | -39.36M | -1.49M | -9.59M | -1.47M | -19.46M |
| Change in Payables | -10.62M | 7.92M | -35.63M | -5.47M | 31.48M | 7.93M | -493K | 15.7M | 0 |
| Cash from Investing | -4.24M | -4.17M | -12.07M | 85.58M | -126.15M | -221.74M | 35.53M | -61.9M | -16.3M |
| Capital Expenditures | -4.24M | -4.17M | -12.07M | -19.42M | -18.56M | -16.41M | -11.48M | -14.88M | -14.82M |
| CapEx % of Revenue | 1.02% | 1.01% | 2.89% | 3.83% | 3.97% | 6.77% | 7.84% | 10.3% | 16.11% |
| Acquisitions | 0 | 0 | 0 | 0 | -2.76M | -205.33M | 0 | 47.01M | -1.48M |
| Investments | - | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 0 | 0 | 0 | -104.83M | 0 | 47.01M | -47.01M | 0 |
| Cash from Financing | -29.99M | -20M | 28.54M | 306.52M | 372.86M | 549.69M | 128.91M | 17.16M | 233.8M |
| Debt Issued (Net) | -49.37M | -39.75M | 0 | 0 | 293.97M | -36.05M | 0 | 0 | 15.81M |
| Equity Issued (Net) | 1.03M | 1.89M | 10.21M | 287.2M | 49.45M | 0 | 95.46M | 14.76M | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | -1.16M | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | -20.89M | 0 | 0 | 0 |
| Other Financing | 18.35M | 17.86M | 18.32M | 19.33M | 29.44M | 585.74M | 33.46M | 2.4M | 217.99M |
| Net Change in Cash | -100.17M | -83.01M | -132.84M | 63.25M | -21.07M | 169.74M | 72.74M | -132.54M | 116.85M |
| Free Cash Flow | -70.67M | -67M | -159.02M | -348.37M | -285.61M | -173.59M | -103.33M | -102.82M | -115.37M |
| FCF Margin % | -17.01% | -16.29% | -38.13% | -68.76% | -61.02% | -71.63% | -70.54% | -71.15% | -125.36% |
| FCF Growth % | 44.37% | 57.87% | 54.35% | -21.97% | -64.53% | -67.99% | -0.5% | 10.88% | - |
| FCF per Share | -2.87 | -2.86 | -7.34 | -18.55 | -16.88 | -11.48 | -136.71 | -231.22 | -531.34 |
| FCF Conversion (FCF/Net Income) | 0.34x | 0.29x | 0.53x | 0.72x | 0.78x | 1.19x | 0.47x | 0.65x | 0.93x |
| Interest Paid | 305K | 0 | 10.67M | 10.76M | 4.93M | 346K | 2.8M | 3.41M | 0 |
| Taxes Paid | 1.13M | 0 | 2.75M | 1.11M | 598K | 268K | 172K | 153K | 0 |
Liquidity and capital runway
According to quarterly financial data, the persistent gap between net income and operating cash flow suggests that ChargePoint's reported losses are significantly mitigated by non-cash adjustments, with OCF/NI ratios fluctuating wildly from 0.03 to 0.87, indicating that accruals play a dominant role in the company's reported figures.
The wide variance in the OCF/NI ratio implies that cash generation is not tracking linearly with accounting losses, likely due to significant swings in working capital and non-cash expenses. Investors should monitor whether this volatility reflects genuine operational improvements or merely the timing of payments and receipts that mask the underlying cash burn.
As reported in recent financial statements, ChargePoint continues to experience significant free cash flow deficits, with FCF margins remaining deeply negative and reaching as low as -61.7% in 2025Q1, highlighting the company's ongoing struggle to achieve self-sustaining operations despite various attempts to optimize its cost structure.
The consistent negative FCF trajectory suggests that the business model remains capital-intensive and reliant on external funding to bridge the gap between operational outflows and revenue. The lack of a clear path to positive FCF margins warrants further investigation into whether the current scale is sufficient to achieve future profitability.
Based on the company's reported figures, working capital changes have been a primary driver of quarterly cash flow fluctuations, with swings as large as $44.4 million in 2025Q3, suggesting that the company's cash position is highly sensitive to the timing of inventory management and accounts receivable collections.
The reliance on working capital shifts to manage cash flow suggests that the company may be aggressively managing payables or timing inventory builds to preserve liquidity. This behavior appears to be a stop-gap measure rather than a sustainable strategy for generating organic cash flow from core operations.
As indicated by historical cash flow statements, stock-based compensation has consistently reached double-digit millions per quarter, peaking at $25.4 million in 2024Q4, which effectively serves as a non-cash substitute for salary expenses that would otherwise further deplete the company's already strained cash reserves.
While SBC is a standard practice for growth-stage companies, the magnitude of these adjustments relative to the company's cash burn suggests that the true cost of talent is not fully reflected in the operating cash flow. Analysts should consider the dilutive impact of this compensation strategy alongside the ongoing cash requirements of the business.
Quick answers to the most common questions about buying CHPT stock.
ChargePoint Holdings, Inc. (CHPT) generated $-62.8M in net cash from operating activities in 2026. This reflects the cash generated directly from core business operations.
ChargePoint Holdings, Inc. (CHPT) reported negative free cash flow of $67.0M in 2026, indicating capital requirements exceeded cash from operations.
ChargePoint Holdings, Inc. (CHPT) spent $4.2M on capital expenditures in 2026. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.