CAMPBELL, California, September 3, 2026, 14:34 (EDT) — ChargePoint’s stock surged 78% after the company reported its cash use fell to $4.2 million.
- Shares of ChargePoint Holdings, Inc. NYSE:CHPT surged 77.6% to $9.22 as of 14:34 EDT.
- Revenue for the quarter increased by 18%, and the adjusted EBITDA loss decreased to $4.8 million.
- The surge boosted equity value by around $108.8 million, nearly equaling sales for the quarter.
ChargePoint shares jumped on Thursday, following higher sales and a significant drop in cash consumption. Trading volume hit 38.0 million shares as of 14:34 EDT. The stock last closed at $5.19 on Wednesday Yahoo Finance market data.
The action increased ChargePoint’s equity value by approximately $108.8 million, an amount equal to 94% of its most recent quarterly revenue. The calculation is based on 27 million shares outstanding as of July 31.
Investors are betting on a quicker path to self-financing operations. However, much of the cash increase was due to working capital. This difference is significant following a 78% single-day rise.
ChargePoint’s post-earnings repricing
$ per share during the regular session; previous close was $5.19.
Revenue for the fiscal second quarter climbed 18% to $116.1 million. Sales of networked charging systems were up 25% at $62.9 million. Subscription revenue advanced 10% to $43.7 million ChargePoint results.
GAAP gross margin rose to 36%, an increase of five percentage points. Tariff refunds contributed four points to the margin in the quarter. The reported gain thus exaggerates the actual underlying improvement.
Quarter-to-quarter operating bridge
Fiscal 2027 Q1 versus Q2. Loss and cash-use bars shrink as performance improves.
Revenue
GAAP gross margin
Adjusted EBITDA loss
Operating cash used
By that measure, operating cash outflow for the second quarter was roughly $4.2 million, compared with $36.6 million in the first quarter. Cash and restricted cash decreased slightly to $95.7 million.
Inventory dropped by $24.1 million compared to April. The reduction surpassed the quarter’s operating cash outflow. Such a pace might not be sustained.
ChargePoint “managed our cash with extreme rigor through continued operational discipline,” Chief Executive Rick Wilmer said. The company reduced GAAP operating expenses by 15% compared to a year ago, according to a company release.
ChargePoint forecast Q3 revenue in the range of $105 million to $115 million. At the midpoint, that is 5.2% less than Q2 revenue. The upper end also falls short of the most recently reported quarter.
Express Solo shipments started early in Q2. The fast charger has a maximum output of 600 kilowatts. Future commercial growth needs to offset gains previously driven by tariff refunds and inventory cuts.
Needham’s Chris Pierce maintained a Hold rating following the results, pointing to “effectively zero cash burn” and anticipating limited cash outflow through year-end Needham note reported by Benzinga.
Price targets trail the market. TD Cowen has set its target at $7.50, which is 22.9% under Thursday’s price. RBC Capital Markets’ target of $6.50 is 29.5% below the same quote.
The rally moved beyond fresh Hold targets
Share price and recent analyst targets, scaled to $10.
Risks: The margin factored in a short-term refund advantage. Inventory sell-offs contributed to cash flows. Demand continues to fluctuate, and the 10% staff cut is expected to incur roughly $6 million in restructuring charges SEC filing.
The upcoming challenge is clear. ChargePoint needs to maintain its margins as revenue softens after Q2. The company must also keep cash usage down again, this time without depending on a significant reduction in inventory.
Related articles: Electric Vehicles
