Sep 4, 08:10 PM

ChargePoint to Cut 15% of Workforce After Missing Revenue Forecasts, Reports $109M Revenue and $68.9M Net Loss

ChargePoint, the operator of the largest electric vehicle charging network in the US, has announced plans to cut 15% of its workforce after missing revenue forecasts. The company reported second quarter fiscal 2025 revenue of $109 million, a decrease of 28% year-over-year. ChargePoint's GAAP net loss for the quarter was $68.9 million, down 45% from $125.3 million in the same quarter last year. Non-GAAP pre-tax net loss was $43.0 million, down 50% from $86.1 million in the prior year's same quarter. The company's gross margin stood at 24%. The GAAP EPS was ($0.16) and Non-GAAP EPS was ($0.10). The decision to reduce the workforce comes as part of efforts to streamline operations and improve financial performance.

#ChargePoint #US #Non

Written with ChatGPT (GPT-4o).