ChargePoint stock (NYSE: $CHPT) surges following release of Q3 results. Earnings per share in line at -18 cents, with revenue surpassing expectations at $99.61 million.
ChargePoint Holdings CEO: "We are encouraged by record EV sales in the industry...Our Q3 results exceeded our expectations..." $CHPT: +13% AH https://t.co/U7f2Xo8xYY
*CHARGEPOINT 3Q REV. $99.6M, EST. $89.9M *CHARGEPOINT SEES 4Q REV. $95M TO $105M, EST. $101.3M

ChargePoint Holdings (NYSE: CHPT) reported its Q3 earnings, with revenue surpassing expectations at $99.61 million, compared to the estimated $93.27 million and a $100 million revenue estimate. However, revenue declined 10% year-over-year. The company reported an earnings per share (EPS) of -$0.18, slightly missing the estimate of -$0.17. ChargePoint's non-GAAP gross margin improved significantly to 26%, compared to -18% in the same period last year. The company has provided Q4 revenue guidance in the range of $95 million to $105 million, against a consensus estimate of $101.3 million. ChargePoint's CEO expressed optimism, citing record electric vehicle (EV) sales in the industry and better-than-expected Q3 results. The company is focused on returning to growth as part of its FY25 guidance. Following the earnings announcement, ChargePoint's stock surged 13% in after-hours trading.