Fourth quarter GAAP net loss was $78.0 million, as compared to $60.1 million in the prior year's same quarter primarily due to a $16.9 million fair value gain of the assumed common stock warrant liability in the prior year quarter and higher stock-based compensation expense in the current quarter. Fourth quarter non-GAAP gross margin, which primarily excludes stock-based compensation expense, amortization from acquired intangible assets and non-recurring restructuring costs, improved sequentially to 23%, but was down from 24% in the prior year's same quarter. Fourth quarter GAAP gross margin improved sequentially to 22%, but was flat to the prior year's same quarter. Networked charging systems revenue for the fourth quarter was $122.3 million, up 109% from $58.7 million in the prior year’s same quarter and subscription revenue was $25.7 million, up 50% from $17.2 million in the prior year’s same quarter. Fourth quarter revenue was $152.8 million, up 93% from $79.3 million in the prior year’s same quarter. “We continued to extend our technology and market leadership position across North America and Europe this year while driving 94% year-over-year growth and delivering improving gross margin and better operating expense leverage as we progress toward profitability.”įourth Quarter Fiscal 2023 Financial Overview “ChargePoint delivered its largest sequential revenue growth to date and another record quarter, although below our guidance range as supply challenges for our DC solutions and quarter end shipment challenges at this growth rate persisted,” said Pasquale Romano, President and CEO of ChargePoint. (NYSE:CHPT) (“ChargePoint”), a leading electric vehicle (EV) charging network, today reported results for its fourth quarter and full fiscal year ended January 31, 2023. Postal Service awards ChargePoint partner Rexel Energy Solutions contract for the supply of ChargePoint chargers, cloud-based charger management subscription licenses and extended parts warranty servicesĬAMPBELL, Calif.-(BUSINESS WIRE)- ChargePoint Holdings, Inc.
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