ChargePoint Holdings shares surged more than 50% in early trading Thursday after the electric vehicle charging company delivered a strong second-quarter beat and signaled further improvements ahead. CEO Rick Wilmer says the move is only the start.
“The growth is starting to accelerate,” Wilmer told CNBC on Thursday morning. “It’ll be driven substantially by the new products and technology we’re putting into the market.”
The jump marks the biggest single-day gain for ChargePoint since it completed a reverse stock split last year to lift its share price and stay compliant with the New York Stock Exchange’s $1 minimum trading price requirement.
Quarterly results top expectations
After the market closed Wednesday, ChargePoint reported revenue of $116.1 million and a loss per share of 35 cents for its fiscal second quarter of 2027. Analysts had been expecting revenue of $105.2 million and a loss of 85 cents per share, according to average estimates compiled by LSEG.
The quarter included a one-time tariff refund of roughly $4.2 million, but the company said its normalized gross margin would still have set a new record without that benefit.
ChargePoint does not own or operate its chargers, unlike some rivals. Instead, it sells hardware, software, and services to businesses that want to offer charging to employees or customers.
Four straight quarters of growth
Wilmer pointed to a consistent upward trend, noting that the company has now posted four consecutive quarters of year-over-year revenue growth.
“We’ve now had our fourth consecutive quarter of year-over-year growth, and this quarter we just reported yesterday was obviously another good growth quarter,” he said. “And now [we’re] expecting that to accelerate, especially as we move into next year.”
As part of its growth push, ChargePoint has been rolling out faster high-performance “Level 3” chargers in Europe, along with next-generation Level 2 and Level 3 products for the U.S. market. The company is also applying artificial intelligence to cut charging times, speed up software development, and boost operational efficiency, Wilmer said.
Optimism despite EV slowdown
Wilmer’s outlook comes amid a broader cooling in all-electric vehicle sales over the past year, following the end of federal support for the industry in the U.S., including the elimination of a consumer benefit of up to $7,500 for EV purchases.
“I think, altogether, the down cycle, or the doom and gloom, has been a bit overstated. I think there’s a lot more positivity at the ground level,” Wilmer said. “I just think in the end, better products can win.”
U.S. automakers are still selling EVs, and demand in the used-vehicle market remains strong amid high gas prices. But the shift away from gas-powered cars has been considerably slower than many companies and analysts initially expected.
Path to profitability
ChargePoint is nearing the end of a three-year turnaround plan led by Wilmer, aimed at reducing cash burn and moving toward profitability. The company has cut its net loss from $125.3 million three years ago to $35.6 million in the most recent quarter.
ChargePoint has not given a specific timeline for turning a profit, but Wilmer said the company is close to reaching profitability on an EBITDA basis.
“We’re approaching that quickly, and we want to get there ASAP,” he said.
For the third quarter of fiscal 2027, ChargePoint guided to revenue between $105 million and $115 million, which would represent a midpoint increase of roughly 4% year-over-year.
Source: www.cnbc.com — https://www.cnbc.com/2026/09/03/chargepoint-ceo-50percent-stock-surge-is-the-beginning-of-the-momentum.html
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