CHARGEPOINT HOLDINGS Reports Second Quarter Earnings for FY2024
September 9, 2023
🌥️Earnings Overview
On September 6 2023, CHARGEPOINT HOLDINGS ($NYSE:CHPT) reported their earnings results for the quarter ended July 31 2023, which was the second quarter of FY2024. The company’s revenue for the quarter was USD 150.5 million, a significant 39.0% increase from the same quarter in the previous year. The net income for the quarter was -125.3 million, compared to -92.7 million in the prior year.
Stock Price
The stock opened at $7.2 and closed at $7.1, down by 2.8% from its previous closing price of 7.3. This marked the lowest closing price for CHARGEPOINT HOLDINGS since April of this year. CHARGEPOINT HOLDINGS attributed the decline in net income to higher operating costs and increased investments in research and development. Other factors contributing to the lower net income were a slowdown in demand for the company’s products and services in certain markets, as well as increases in commodity prices.
Looking ahead, CHARGEPOINT HOLDINGS is optimistic that its focus on technological innovation and customer satisfaction will help it maintain its market position in the electric vehicle charging sector over the long-term. The company has also made plans to expand its presence in other markets to drive growth in both revenues and profits. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Chargepoint Holdings. More…
| Total Revenues | Net Income | Net Margin |
| 558.69 | -367.79 | -65.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Chargepoint Holdings. More…
| Operations | Investing | Financing |
| -323.98 | 265.43 | 133.28 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Chargepoint Holdings. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.07k | 793.17 | 0.78 |
Key Ratios Snapshot
Some of the financial key ratios for Chargepoint Holdings are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 48.0% | – | -63.7% |
| FCF Margin | ROE | ROA |
| -61.5% | -73.8% | -20.8% |
Analysis
After analyzing CHARGEPOINT HOLDINGS‘ fundamentals, GoodWhale has determined that it is a high risk investment in terms of financial and business aspects. Our Risk Rating system has identified 2 risk warnings in their balance sheet and cashflow statement that have caused us to be cautious about investing in the company. If you are interested in finding out more about the risks associated with CHARGEPOINT HOLDINGS, become a registered user on our website to access our detailed evaluation. With GoodWhale, you have access to our comprehensive financial analysis and can make informed decisions about your investments. More…
Peers
ChargePoint Holdings Inc is an electric vehicle charging station company. Its competitors are Fastned BV, Lands’ End Inc, and Volta Inc.
– Fastned BV ($BER:FSF)
Fastned BV is a Dutch company that provides fast-charging services for electric vehicles. As of 2022, the company has a market cap of 582.76M and a return on equity of -7.95%. The company operates a network of fast-charging stations across the Netherlands and Belgium, and plans to expand its operations to other European countries.
– Lands’ End Inc ($NASDAQ:LE)
Lands’ End is a publicly traded company with a market capitalization of $265.66 million as of 2022. The company’s return on equity is 7.35%. Lands’ End is a retailer that specializes in casual clothing, luggage, and home furnishings. The company offers products through its catalogs, online store, and retail locations.
– Volta Inc ($NYSE:VLTA)
Volta Inc is a publicly traded company with a market capitalization of $85.58 million as of 2022. The company has a negative return on equity of 82.46%. Volta Inc is engaged in the design, manufacture, and marketing of batteries, battery chargers, and related products.
Summary
CHARGEPOINT HOLDINGS reported its second quarter of FY2024 earnings, showing total revenue of USD 150.5 million and net income of USD -125.3 million. Investors should watch the company’s future performance closely, as it has yet to show a positive net income. Additionally, they may also want to review how the company is faring against its competitors in order to determine whether it is worth investing in.
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