ChargePoint Shares Surge 70% After Beating Fiscal Q2 Estimates

Shares of ChargePoint, Inc. surged more than 70% on Thursday following second-quarter fiscal 2027 results that exceeded Wall Street expectations for both revenue and earnings. The company reported revenue of $116.1 million, an 18% increase from the previous year, beating the $105.2 million estimate. GAAP losses were 35 cents per share, significantly lower than the 85 cents per share analysts had predicted.

President and CEO Rick Wilmer attributed the performance to operational discipline and a three-year plan to reduce cash burn, which lowered net losses from $125.3 million three years ago to $35.6 million in the most recent quarter. Wilmer noted that growth is accelerating due to new Level 2 and Level 3 charging products and the integration of artificial intelligence to improve efficiency. While a $4.2 million one-time tariff refund boosted the 36% gross margin, the company stated its normalized margin would have still set a record.

Despite a broader slowdown in U.S. electric vehicle sales following the removal of federal consumer benefits, ChargePoint expanded its partnership with Mercedes-Benz for fleet charging in the U.K. and Germany. The company also announced a fast charging deployment at Portland International Airport and stated it is nearing EBITDA profitability.