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Consistent with preliminary financial results announced on November 16, 2023:
- Third quarter fiscal 2024 revenue of $110 million representing a 12% decrease year-over-year
- GAAP gross margin of negative 22% and non-GAAP gross margin of negative 18%, reflecting $42 million impact from an inventory impairment charge
- GAAP operating expense of $130 million and non-GAAP operating expense of $81 million, partially reflecting the reduction of operating expenses as part of previously announced cost-saving measures
- Company reaffirms plan to achieve positive non-GAAP Adjusted EBITDA in the fourth quarter of calendar year 2024 (Fourth quarter of fiscal 2025)
CAMPBELL, Calif.–(BUSINESS WIRE)–ChargePoint
Holdings, Inc. (NYSE:CHPT) (“ChargePoint”), a leading provider of networked solutions for charging electric vehicles (EVs), today reported results for its third quarter of fiscal 2024 ended October 31, 2023.