Revenue recovery to $116.1M (17.7% YoY) and gross margin expansion to 36.4% from a 22.1% trough suggests improving fundamentals, yet operating expenses of $76.4M still exceed the $42.3M gross profit, leaving operating margin at -31.0%.
ChargePoint Holdings, Inc. (CHPT) annual income statement — 8-year revenue, gross profit & net income history
| Metric | TTM | Jan'26 | Jan'25 | Jan'24 | Jan'23 | Jan'22 | Dec'20 | Dec'19 | Jan'19 |
|---|
| Sales/Revenue | 432.89M | 411.22M | 417.08M | 506.64M | 468.09M | 242.34M | 146.49M | 144.51M | 92.03M |
| Revenue Growth % | 8.84% | -1.4% | -17.68% | 8.23% | 93.16% | 65.43% | 1.37% | 57.03% | - |
| Cost of Goods Sold | 294.08M | 285.62M | 316.4M | 476.52M | 382.16M | 188.81M | 113.54M | 126.47M | 72.53M |
| COGS % of Revenue | - | 69.46% | 75.86% | 94.06% | 81.64% | 77.91% | 77.51% | 87.52% | 78.81% |
| Gross Profit | 138.81M | 125.6M | 100.68M | 30.12M | 85.93M | 53.53M | 32.95M | 18.04M | 19.5M |
| Gross Margin % | 32.07% | 30.54% | 24.14% | 5.94% | 18.36% | 22.09% | 22.49% | 12.48% | 21.19% |
| Gross Profit Growth % | - | 24.75% | 234.29% | -64.95% | 60.53% | 62.47% | 82.62% | -7.5% | - |
| Operating Expenses | 319.2M | 335.74M | 353.68M | 481.7M | 427.71M | 319.91M | 153.94M | 150.41M | 125.18M |
| OpEx % of Revenue | - | 81.64% | 84.8% | 95.08% | 91.37% | 132.01% | 105.09% | 104.08% | 136.03% |
| Selling, General & Admin | 180.06M | 196.47M | 212.4M | 259.29M | 232.76M | 174.87M | 78.92M | 80.94M | 74.28M |
| SG&A % of Revenue | - | 47.78% | 50.93% | 51.18% | 49.72% | 72.16% | 53.88% | 56.01% | 80.71% |
| Research & Development | 137.29M | 139.27M | 141.28M | 220.78M | 194.96M | 145.04M | 75.02M | 69.46M | 50.51M |
| R&D % of Revenue | - | 33.87% | 33.87% | 43.58% | 41.65% | 59.85% | 51.21% | 48.07% | 54.88% |
| Other Operating Expenses | 1000K | 0 | 0 | 0 | -1.57M | -2.77M | 229K | -565K | 0 |
| Operating Income | -180.49M | -210.14M | -253M | -449.95M | -341.78M | -266.38M | -120.99M | -132.36M | -105.29M |
| Operating Margin % | -41.7% | -51.1% | -60.66% | -88.81% | -73.02% | -109.92% | -82.59% | -91.59% | -114.41% |
| Operating Income Growth % | - | 16.94% | 43.77% | -31.65% | -28.31% | -120.16% | 8.59% | -25.72% | - |
| EBITDA | -154.86M | -183.09M | -223.81M | -421.46M | -316.73M | -249.92M | -110.91M | -124.67M | -101.2M |
| EBITDA Margin % | -35.77% | -44.52% | -53.66% | -83.19% | -67.66% | -103.13% | -75.71% | -86.27% | -109.97% |
| EBITDA Growth % | 25.47% | 18.19% | 46.9% | -33.07% | -26.73% | -125.34% | 11.04% | -23.19% | - |
| D&A (Non-Cash Add-back) | 25.63M | 27.05M | 29.19M | 28.49M | 25.05M | 16.46M | 10.08M | 7.7M | 4.09M |
| EBIT | -161.8M | -192.29M | -248.04M | -441.36M | -337.84M | -133.67M | -193.57M | -130.56M | -105.29M |
| Net Interest Income | -8.1M | -19.37M | -16.31M | -6.67M | -3.9M | -1.4M | -2.94M | -299K | 0 |
| Interest Income | 3.03M | 4.49M | 8.35M | 9.6M | 5.53M | 98K | 315K | 3.25M | 2.29M |
| Interest Expense | 11.13M | 23.86M | 24.65M | 16.27M | 9.43M | 1.5M | 3.25M | 3.54M | 0 |
| Other Income/Expense | 9.79M | -6.01M | -19.7M | -7.68M | -6.14M | 130.6M | -75.83M | -1.74M | -2.68M |
| Pretax Income | -170.7M | -216.15M | -272.69M | -457.63M | -347.92M | -135.78M | -196.83M | -134.1M | -107.97M |
| Pretax Margin % | -39.43% | -52.56% | -65.38% | -90.33% | -74.33% | -56.03% | -134.36% | -92.8% | -117.32% |
| Income Tax | 5.02M | 4.05M | 4.37M | -21K | -2.82M | -3.54M | 198K | 224K | 119K |
| Effective Tax Rate % | -2.94% | -1.87% | -1.6% | 0% | 0.81% | 2.61% | -0.1% | -0.17% | -0.11% |
| Net Income | -175.72M | -220.2M | -277.07M | -457.61M | -344.46M | -132.57M | -197.02M | -134.33M | -108.09M |
| Net Margin % | -40.59% | -53.55% | -66.43% | -90.32% | -73.59% | -54.7% | -134.5% | -92.95% | -117.45% |
| Net Income Growth % | 32.33% | 20.53% | 39.45% | -32.85% | -159.83% | 32.71% | -46.67% | -24.28% | - |
| Net Income (Continuing) | -175.72M | -220.2M | -277.07M | -457.61M | -345.11M | -132.24M | -197.02M | -134.33M | -108.09M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -6.68 | -9.41 | -12.78 | -24.40 | -20.40 | -8.80 | -260.60 | -302.00 | -497.80 |
| EPS Growth % | -366.23% | 26.37% | 47.62% | -19.61% | -131.82% | 96.62% | 13.71% | 39.33% | - |
| EPS (Basic) | - | -9.41 | -12.78 | -24.40 | -20.40 | -9.00 | -260.60 | -302.00 | -497.80 |
| Diluted Shares Outstanding | 26.32M | 23.41M | 21.67M | 18.78M | 16.92M | 15.13M | 755.84K | 444.69K | 217.13K |
| Basic Shares Outstanding | 26.32M | 23.41M | 21.67M | 18.78M | 16.92M | 14.87M | 755.84K | 444.69K | 217.13K |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - |
Quick answers to the most common questions about buying CHPT stock.
For fiscal year 2026, ChargePoint Holdings, Inc. (CHPT) reported total revenue of $411.2M. This represents a 346.8% increase compared to $92.0M in 2019.
ChargePoint Holdings, Inc. (CHPT) reported a net loss of $220.2M for the fiscal year ending 2026.
ChargePoint Holdings, Inc. (CHPT) reported an operating income of $-210.1M, resulting in an operating profit margin of -51.1%. This margin reflects the operational efficiency of the business before interest and taxes.
ChargePoint Holdings, Inc. (CHPT) generated $125.6M in gross profit for the year, representing a gross profit margin of 30.5%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Persistent losses vs revenue growth
Metrics are mathematically derived from official filings.
Revenue Recovery Emerging After 2025 Trough
CHPT's revenue fell to $97.6M in 2026Q1 after declining ~28% YoY in 2025Q2, but has since recovered to $116.1M in 2027Q2 with 17.7% YoY growth, suggesting a stabilization in demand; however, the absolute revenue level remains below the $108.5M reported in 2025Q2, indicating the recovery has not yet fully reversed prior losses.
The sequential pattern from 2026Q1 trough ($97.6M) through 2027Q2 ($116.1M) shows four consecutive quarters of YoY growth, accelerating from mid-single digits to high-teens. This may indicate stabilization in EV charging demand or channel restocking rather than a durable secular inflection. Investors should monitor whether the recent acceleration reflects sustainable end-market demand versus one-time inventory normalization among network operators, as the reported data alone does not distinguish between volume and pricing contributions to this growth.
Gross Margin Rebounding from Structural Trough
Gross margins improved from a trough of 22.1% in 2025Q1 to 36.4% in 2027Q2—a 1,430 basis point expansion—implying a meaningful shift in cost structure or product mix; however, COGS has remained relatively flat at ~$74M across the period while revenue grew, suggesting fixed-cost absorption rather than pure pricing power.
The margin recovery appears driven by operating leverage on a relatively stable COGS base rather than material unit cost reductions. At 36.4%, CHPT's gross margin now leads peer Blink Charging's 24.4% and EVgo's 21.0%, which may suggest a more favorable hardware mix or shift toward higher-margin software/network services. Nonetheless, sustaining this margin trajectory will depend on continued revenue growth against what appears to be a structurally fixed cost base, warranting investigation into whether the improvement is cyclical (volume-driven) or structural.
SG&A Efficiency Improving But Opex Still Exceeds Gross Profit
Despite gross profit recovering from $23.6M in 2025Q1 to $42.3M in 2027Q2, total operating expenses (R&D + SG&A) remained at $76.4M in 2027Q2, meaning gross profit covers only ~55% of the opex base—indicating meaningful operating leverage remains unrealized even as losses narrow from -$67.1M to -$36.0M.
The operating loss improved by ~46% from the 2025Q1 trough, driven primarily by gross margin recovery rather than opex cuts; R&D declined modestly from $38.3M (2025Q3) to $32.4M (2027Q2), while SG&A has remained sticky in the $41M-$54M range. This suggests management has prioritized R&D rationalization over broader overhead restructuring, which may constrain long-term innovation capacity if extended further. The trajectory implies that breakeven at the operating level would require either continued gross margin expansion or a more aggressive SG&A reduction, neither of which is evidenced in the recent data as clearly sufficient.
Margin Compression Risk on Inventory Build
COGS has remained essentially flat at ~$74M for four consecutive quarters through 2027Q2 even as revenue swung from contraction to 17.7% growth, which may suggest either fixed manufacturing commitments or inventory carrying costs that could become a drag if demand momentum stalls.
A bearish interpretation would note that the gross margin improvement appears to be volume-driven absorption of fixed costs rather than a fundamental repricing or cost-structure change. If the recent revenue growth proves temporary—e.g., driven by pre-ordering ahead of expected policy changes or channel restocking—CHPT could face renewed margin pressure as COGS does not appear to scale down proportionally, based on the observed pattern. The absence of cash flow data limits a full assessment of whether inventory levels are elevated relative to sales, which would warrant further investigation before underwriting the durability of the margin recovery.
SBC Decline Obscures Quality Concerns in Net Loss
Stock-based compensation declined from $21.6M in 2025Q1 to $11.0M in 2027Q2, contributing to narrower reported losses, yet the 2027Q1 figure of $0 appears anomalous and may indicate a data inconsistency or one-time accounting event requiring further scrutiny.
Adjusted net income excluding SBC would still be deeply negative in the most recent quarter (~$24.6M loss), confirming that the improvement in reported EPS from -$3.40 to -$1.35 is primarily a function of both revenue growth and SBC reduction rather than underlying profitability. The sharp decline in SBC could reflect declining equity grant activity—potentially related to dilution concerns or share price levels—but without clarity on the 2027Q1 zero figure, the durability of this trend remains uncertain. Investors should note that even on a cash-earnings basis excluding SBC, CHPT remains structurally unprofitable, with the 2027Q2 net margin at -30.7% indicating significant operational hurdles to breakeven.