Form 8-K - Current report

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date Earliest Event Reported): December 4, 2024

  

ChargePoint Holdings, Inc.

(Exact name of registrant as specified in its charter) 

  

Delaware

001-39004

84-1747686

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(IRS Employer Identification No.)

240 East Hacienda Avenue Campbell, CA						95008
(Address of Principal Executive Offices)						(Zip Code)

[phone]

(Registrant’s telephone number, including area code)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e- 4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.0001

CHPT

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

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Item 2.02.    Results of Operations and Financial Condition.

On December 4, 2024, ChargePoint Holdings, Inc. (the “Company”) issued a press release announcing its financial results for its fiscal third quarter ended October 31, 2024. A copy of the press release is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.

The information contained in this Item 2.02 and in the accompanying Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended (the "Securities Act"), or the Exchange Act, regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference in such filing.

Item 9.01.    Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.						Description of Exhibit
99.1						Press release dated December 4, 2024
104						Cover Page Interactive Data File (embedded within the Inline XBRL document)

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

CHARGEPOINT HOLDINGS, INC.
By:						/s/ Mansi Khetani
						Name: Mansi Khetani
						Title: Chief Financial Officer

Date: December 4, 2024

Exhibit 99.1

ChargePoint Reports Third Quarter Fiscal Year 2025 Financial Results

 

•Third quarter fiscal 2025 revenue of $100 million

•Third quarter fiscal 2025 GAAP gross margin of 23% and non-GAAP gross margin of 26%

•Third quarter fiscal 2025 subscription revenue of $36 million representing 19% year over year growth

•Third quarter fiscal 2025 GAAP operating expense of $91 million and non-GAAP operating expense of $59 million, representing 30% and 28% year over year reduction

•ChargePoint guides to fourth quarter fiscal 2025 revenue of $95 million to $105 million

Campbell, Calif. – December 4, 2024 – 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 year 2025 ended October 31, 2024.

“We are encouraged by record EV sales in the industry, and we continue to see network utilization driving the need for more charging infrastructure.” said Rick Wilmer, CEO of ChargePoint. “Our third quarter results exceeded our expectations, and demonstrate that our strategy, focus on operational excellence, and rigorous cash management are translating to tangible results.”

Third Quarter Fiscal 2025 Financial Overview

•Revenue. Third quarter revenue was $99.6 million, down 10% from $110.3 million in the prior year’s same quarter. Networked charging systems revenue for the third quarter was $52.7 million, down 29% from $73.9 million in the prior year’s same quarter. Subscription revenue was $36.4 million, up 19% from $30.6 million in the prior year’s same quarter.

•Gross Margin. Third quarter GAAP gross margin was 23% as compared to (22)% in the prior year's same quarter, and non-GAAP gross margin was 26% as compared to (18)% in the prior year's same quarter, in both cases primarily due to a $42.0 million inventory impairment charge taken in the prior year to address legacy supply overruns related to product transitions and to better align inventory with demand.

•Operating Expenses. Third quarter GAAP operating expenses were $91.0 million, down 30% from $129.8 million in the prior year's same quarter. Non-GAAP operating expenses were $58.6 million, down 28% from $81.1 million in the prior year's same quarter.

•Net Income/Loss. Third quarter GAAP net loss was $77.6 million, down 51% from $158.2 million in the prior year's same quarter. Non-GAAP pre-tax net loss was $40.7 million, down 62% from $106.3 million in the prior year's same quarter, both reflecting the $42.0 million inventory impairment charge taken in the prior year. Non-GAAP Adjusted EBITDA Loss was $28.6 million, down 71% from $97.4 million in the prior year's same quarter.

•Liquidity. As of October 31, 2024, cash and cash equivalents on the balance sheet was $219.8 million. ChargePoint's $150 million revolving credit facility remains undrawn and ChargePoint has no debt maturities until 2028.

•Shares Outstanding. As of October 31, 2024, the Company had approximately 441 million shares of common stock outstanding.

For reconciliation of GAAP and non-GAAP results, please see the tables below.

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Business Highlights

•ChargePoint appointed David Vice as Chief Revenue Officer to drive revenue growth, overseeing the global sales and marketing functions.

•ChargePoint lowered the barrier to entry for fleet electrification with the introduction of the CPF50, an affordable Level 2 charging solution that enables more fleets to go electric with access to ChargePoint’s advanced fleet and telematics software platform.

•The new ChargePoint Essential cloud plan makes charging more accessible for small businesses and multi-family housing with access to the benefits of ChargePoint's leading software platform.

Fourth Quarter and Full Year Guidance

For the fourth fiscal quarter ending January 31, 2025, ChargePoint expects revenue of $95 million to $105 million.

The Company is concentrating on returning to growth and streamlining operations to continue on its path to positive non-GAAP Adjusted EBITDA, which is targeted for a quarter in fiscal year 2026.

ChargePoint is not able to present a reconciliation of its forward-looking non-GAAP Adjusted EBITDA goal to the corresponding GAAP measure because certain potential future adjustments, which may be significant and may include, among other items, stock-based compensation expense, are uncertain or out of its control, or cannot be reasonably predicted without unreasonable effort. The actual amounts of such reconciling items could have a significant impact on ChargePoint's GAAP Net Loss.

Conference Call Information

ChargePoint will host a webcast today at 1:30 p.m. Pacific / 4:30 p.m. Eastern to review its third quarter fiscal 2025 financial results.

Investors may access the webcast, supplemental financial information and investor presentation at ChargePoint’s investor relations website (investors.chargepoint.com) under the “Events and Presentations” section. A replay will be available after the conclusion of the webcast and archived for one year.

About ChargePoint

ChargePoint is creating a new fueling network to move people and goods on electricity. Since 2007, ChargePoint has been committed to making it easy for businesses and drivers to go electric with one of the largest EV charging networks and a comprehensive portfolio of charging solutions. The ChargePoint cloud subscription platform and software-defined charging hardware are designed to include options for every charging scenario from home and multifamily to workplace, parking, hospitality, retail and transport fleets of all types. Today, one ChargePoint account provides access to hundreds of thousands of places to charge in North America and Europe. For more information, visit the ChargePoint pressroom, the ChargePoint Investor Relations site, or contact the ChargePoint North American or European press offices or Investor Relations.

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Forward-Looking Statements

This press release contains forward-looking statements that involve risks, uncertainties, and assumptions including statements regarding our projected revenue for the fourth quarter of fiscal year 2025 and our goal to achieve positive non-GAAP Adjusted EBITDA. There are a significant number of factors that could cause actual results to differ materially from the statements made in this press release, including: macroeconomic trends including changes in or sustained inflation, interest rate volatility, or other events beyond our control on the overall economy which may reduce demand for our products and services, geopolitical events and conflicts, adverse impacts to our business and those of our customers and suppliers, including due to supply chain disruptions, tariffs, component shortages, and associated logistics expense increases; our limited operating history as a public company; our ability as an organization to successfully acquire, integrate or partner with other companies, products or technologies in a successful manner; our dependence on widespread acceptance and adoption of EVs, including auto manufacture's plans and strategies to transition to predominately manufacture EV and any corresponding increased demand for installation of charging stations; our current dependence on sales of charging stations for most of our revenues; overall demand for EV charging and the potential for reduced demand for EVs if governmental rebates, tax credits and other financial incentives are reduced, modified or eliminated or governmental mandates to increase the use of EVs or decrease the use of vehicles powered by fossil fuels, either directly or indirectly through mandated limits on carbon emissions, are reduced, modified or eliminated; our ability, and our reliance on our customers, to successfully implement, construct and manage National Electric Vehicle Infrastructure (NEVI) grant opportunities in accordance with the respective terms of the NEVI program in order to validly secure and obtain awarded funding and win additional NEVI grant opportunities; our reliance on contract manufacturers, including those located outside the United States, may result in supply chain interruptions, delays and expense increases which may adversely affect our sales, revenue and gross margins; our ability to expand our operations and market share in Europe; the need to attract additional fleet operators as customers; potential adverse effects on our revenue and gross margins due to delays and costs associated with new product introductions, inventory obsolescence, component shortages and related expense increases; adverse impact to our revenues and gross margins if customers increasingly claim clean energy credits and, as a result, they are no longer available to be claimed by us; the effects of competition; risks related to our dependence on our intellectual property; and the risk that our technology could have undetected defects or errors. Additional risks and uncertainties that could affect our financial results are included under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Form 10-Q filed with the Securities and Exchange Commission (the “SEC”) on September 9, 2024, which is available on our website at investors.chargepoint.com and on the SEC’s website at www.sec.gov. Additional information will also be set forth in other filings that we make with the SEC from time to time. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made, except as required by applicable law.

Use of Non-GAAP Financial Measures

ChargePoint has provided financial information in this press release that has not been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”). ChargePoint uses these non-GAAP financial measures internally in analyzing its financial results. ChargePoint believes that the use of these non-GAAP financial measures is useful to investors to evaluate ongoing operating results and trends and believes they provide meaningful supplemental information to investors regarding ChargePoint’s underlying operating performance because they exclude items the Company believes are unrelated to, and may not be indicative of, its core operating results.

The presentation of these non-GAAP financial measures is not meant to be considered in isolation or as a substitute for comparable GAAP financial measures and should be read only in conjunction with ChargePoint’s consolidated financial statements prepared in accordance with GAAP. A reconciliation of ChargePoint’s historical non-GAAP financial measures to their most directly comparable GAAP measures has been provided in the financial statement tables included in this press release, and investors are encouraged to review these reconciliations.

Non-GAAP Gross Profit (Gross Margin). ChargePoint defines non-GAAP gross profit as gross profit excluding stock-based compensation expense, amortization expense of acquired intangible assets and restructuring costs for severances and employment-related termination costs, facility and other contract terminations. Non-GAAP gross margin is non-GAAP gross profit as a percentage of revenue.

Non-GAAP Cost of Revenue and Operating Expenses (includes Non-GAAP research and development, Non-GAAP sales and marketing and Non-GAAP general and administrative). ChargePoint defines non-GAAP cost of revenue and operating expenses as cost of revenue and operating expenses excluding stock-based compensation expense, restructuring costs for severances and employment-related termination costs, facility and other contract terminations, amortization expense of acquired intangible assets, non-cash charges related to tax liabilities and litigation settlements, including associated non-recurring legal expenses and professional service fees related to the modification of the convertible debt.

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Non-GAAP Net Loss. ChargePoint defines non-GAAP net loss as net loss excluding stock-based compensation expense, restructuring costs for severances and employment-related termination costs, facility and other contract terminations, amortization expense of acquired intangible assets, non-cash charges related to tax liabilities and litigation settlements, including associated non-recurring legal expenses and professional service fees related to the modification of the convertible debt. These amounts reflect the impact of any related tax effects. Non-GAAP pre-tax net loss is non-GAAP net loss adjusted for provision for income taxes.

Non-GAAP Adjusted EBITDA Loss. ChargePoint defines non-GAAP adjusted EBITDA loss as net loss excluding stock-based compensation expense, restructuring costs for severances and employment-related termination costs, facility and other contract terminations, amortization expense of acquired intangible assets, non-cash charges related to tax liabilities and litigation settlements, including associated non-recurring legal expenses, professional service fees related to the modification of the convertible debt, and further adjusted for provision of income taxes, depreciation, interest income and expense, and other income and expense (net).

Investors are cautioned that there are a number of limitations associated with the use of non-GAAP financial measures to analyze financial results and trends. In particular, many of the adjustments to ChargePoint’s GAAP financial measures reflect the exclusion of items that are recurring and will be reflected in its financial results for the foreseeable future, such as stock-based compensation, which is an important part of ChargePoint’s employees’ compensation and impacts hiring, retention and performance. Furthermore, these non-GAAP financial measures are not based on any standardized methodology prescribed by GAAP, and the components that ChargePoint excludes in its calculation of non-GAAP financial measures may differ from the components that other companies exclude when they report their non-GAAP results. In the future, ChargePoint may also exclude other expenses it determines do not reflect the performance of ChargePoint’s operating results.

CHPT-IR

Contacts

Investor Relations

Nandan Amladi

Vice President, Finance and Investor Relations

[e-mail]

[e-mail]

Press

John Paolo Canton

Vice President, Communications

[e-mail]

AJ Gosselin

Director, Corporate Communications

[e-mail]

[e-mail]

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ChargePoint Holdings, Inc.

PRELIMINARY CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share amounts; unaudited)

 

			Three Months Ended October 31,												Nine Months Ended October 31,
			2024						2023						2024						2023
Revenue
Networked charging systems			$	52,662					$	73,893					$	182,182					$	286,788
Subscriptions			36,417						30,559						106,053						86,935
Other			10,533						5,831						26,959						17,084
Total revenue			99,612						110,283						315,194						390,807
Cost of revenue
Networked charging systems			52,852						109,452						173,152						317,335
Subscriptions			17,512						19,999						53,812						53,495
Other			6,462						4,778						16,249						12,263
Total cost of revenue			76,826						134,229						243,213						383,093
Gross profit			22,786						(23,946)						71,981						7,714
Operating expenses
Research and development			38,299						56,524						110,861						165,563
Sales and marketing			34,678						39,834						106,376						116,545
General and administrative			17,975						33,463						52,794						82,627
Total operating expenses			90,952						129,821						270,031						364,735
Loss from operations			(68,166)						(153,767)						(198,050)						(357,021)
Interest income			1,604						1,868						6,930						6,168
Interest expense			(9,315)						(3,820)						(22,486)						(9,673)
Other income (expense), net			(202)						(2,815)						(1,090)						(2,173)
Net loss before income taxes			(76,079)						(158,534)						(214,696)						(362,699)
Provision for (benefit from) income taxes			1,511						(315)						3,567						162
Net loss			$	(77,590)					$	(158,219)					$	(218,263)					$	(362,861)
Net loss per share, basic and diluted			$	(0.18)					$	(0.43)					$	(0.51)					$	(1.01)
Weighted average shares outstanding, basic and diluted			435,331,445						376,182,783						428,757,738						360,818,131

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ChargePoint Holdings, Inc.

PRELIMINARY CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, unaudited)

 

			October 31, 2024						January 31, 2024
Assets
Current assets:
Cash and cash equivalents			$	219,409					$	327,410
Restricted cash			400						30,400
Accounts receivable, net			111,854						124,049
Inventories			221,988						198,580
Prepaid expenses and other current assets			66,467						62,244
Total current assets			620,118						742,683
Property and equipment, net			37,909						42,446
Intangible assets, net			71,662						80,555
Operating lease right-of-use assets			14,782						15,362
Goodwill			214,303						213,750
Other assets			7,564						8,567
Total assets			$	966,338					$	1,103,363
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable			$	74,056					$	71,081
Accrued and other current liabilities			143,163						159,104
Deferred revenue			102,787						99,968
Total current liabilities			320,006						330,153
Deferred revenue, noncurrent			134,056						131,471
Debt, noncurrent			299,410						283,704
Operating lease liabilities			16,019						17,350
Deferred tax liabilities			10,343						11,252
Other long-term liabilities			5,523						1,757
Total liabilities			785,357						775,687
Stockholders' equity:
Common stock			44						42
Additional paid-in capital			2,028,722						1,957,932
Accumulated other comprehensive loss			(15,150)						(15,926)
Accumulated deficit			(1,832,635)						(1,614,372)
Total stockholders' equity			180,981						327,676
Total liabilities and stockholders' equity			$	966,338					$	1,103,363

 

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ChargePoint Holdings, Inc.

PRELIMINARY CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands, unaudited)

 

			Nine Months Ended October 31,
			2024						2023
Cash flows from operating activities
Net loss			$	(218,263)					$	(362,861)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization			22,205						21,160
Non-cash operating lease cost			2,700						3,257
Stock-based compensation			61,083						91,946
Amortization of deferred contract acquisition costs			2,388						2,112
Inventory impairment			—						70,000
Non-cash interest expense			12,750						—
Reserves and other			17,104						7,486
Changes in operating assets and liabilities:
Accounts receivable, net			6,267						8,693
Inventories			(24,207)						(183,569)
Prepaid expenses and other assets			(6,250)						(6,135)
Accounts payable, operating lease liabilities, and accrued and other liabilities			(25,291)						31,738
Deferred revenue			5,249						28,685
Net cash used in operating activities			(144,265)						(287,488)
Cash flows from investing activities
Purchases of property and equipment			(10,136)						(14,671)
Maturities of investments			—						105,000
Net cash provided by (used in) investing activities			(10,136)						90,329
Cash flows from financing activities
Debt issuance costs related to the revolving credit facility			—						(2,853)
Proceeds from the issuance of common stock under employee equity plans, net of tax withholding			7,742						10,957
Proceeds from issuance of common stock in connection with ATM offerings, net of issuance costs			2,970						287,198
Change in driver funds and amounts due to customers			5,681						8,935
Settlement of contingent earnout liability			—						(3,537)
Net cash provided by financing activities			16,393						300,700
Effect of exchange rate changes on cash, cash equivalents, and restricted cash			7						(691)
Net increase (decrease) in cash, cash equivalents, and restricted cash			(138,001)						102,850
Cash, cash equivalents, and restricted cash at beginning of period			357,810						294,562
Cash, cash equivalents, and restricted cash at end of period			$	219,809					$	397,412

 

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ChargePoint Holdings, Inc.

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

(In thousands, unaudited)

 

						Three Months Ended October 31, 2024												Three Months Ended October 31, 2023												Nine Months Ended October 31, 2024												Nine Months Ended October 31, 2023
Cost of Revenue:
GAAP cost of revenue (as a percentage of revenue)						$	76,826					77%						$	134,229					122%						$	243,213					77%						$	383,093					98%
Stock-based compensation expense						(1,260)												(1,847)												(3,870)												(4,780)
Amortization of intangible assets						(774)												(759)												(2,301)												(2,291)
Restructuring costs (1)						(961)												(996)												(961)												(996)
Non-GAAP cost of revenue (as a percentage of revenue)						$	73,831					74%						$	130,627					118%						$	236,081					75%						$	375,026					96%
Gross Profit:
GAAP gross profit (gross margin as a percentage of revenue)						$	22,786					23%						$	(23,946)					(22)%						$	71,981					23%						$	7,714					2%
Stock-based compensation expense						1,260												1,847												3,870												4,780
Amortization of Intangible Assets						774												759												2,301												2,291
Restructuring costs (1)						961												996												961												996
Non-GAAP gross profit (gross margin as a percentage of revenue)						$	25,781					26%						$	(20,344)					(18)%						$	79,113					25%						$	15,781					4%
Operating Expenses:
GAAP research and development (as a percentage of revenue)						$	38,299					38%						$	56,524					51%						$	110,861					35%						$	165,563					42%
Stock-based compensation expense						(9,831)												(14,451)												(28,864)												(39,804)
Restructuring costs (1)						(2,867)												(4,183)												(2,867)												(4,183)
Non-GAAP research and development (as a percentage of revenue)						$	25,601					26%						$	37,890					34%						$	79,130					25%						$	121,576					31%
GAAP sales and marketing (as a percentage of revenue)						$	34,678					35%						$	39,834					36%						$	106,376					34%						$	116,545					30%
Stock-based compensation expense						(4,518)												(6,467)												(14,422)												(17,393)
Amortization of intangible assets						(2,304)												(2,249)												(6,829)												(6,794)
Restructuring costs (1)						(5,067)												(1,343)												(5,067)												(1,343)
Non-GAAP sales and marketing (as a percentage of revenue)						$	22,789					23%						$	29,775					27%						$	80,058					25%						$	91,015					23%
GAAP general and administrative (as a percentage of revenue)						$	17,975					18%						$	33,463					30%						$	52,794					17%						$	82,627					21%
Stock-based compensation expense						(5,107)												(10,118)												(13,927)												(29,969)
Restructuring costs (1)						(933)												(9,079)												(933)												(9,079)
Other adjustments (2)						(1,728)												(788)												(5,729)												(893)
Non-GAAP general and administrative (as a percentage of revenue)						$	10,207					10%						$	13,478					12%						$	32,205					10%						$	42,686					11%
GAAP Operating Expenses (as a percentage of revenue)						$	90,952					91%						$	129,821					118%						$	270,031					86%						$	364,735					93%
Stock-based compensation expense						(19,456)												(31,036)												(57,213)												(87,166)
Amortization of intangible assets						(2,304)												(2,249)												(6,829)												(6,794)
Restructuring costs (1)						(8,867)												(14,605)												(8,867)												(14,605)
Other adjustments (2)						(1,728)												(788)												(5,729)												(893)
Non-GAAP Operating Expenses (as a percentage of revenue)						$	58,597					59%						$	81,143					74%						$	191,393					61%						$	255,277					65%

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						Three Months Ended October 31, 2024												Three Months Ended October 31, 2023												Nine Months Ended October 31, 2024												Nine Months Ended October 31, 2023
Net Loss:
GAAP net loss (as a percentage of revenue)						$	(77,590)					(78)%						$	(158,219)					(143)		%				$	(218,263)					(69)%						$	(362,861)					(93)%
Stock-based compensation expense						20,716												32,883												61,083												91,946
Amortization of intangible assets						3,078												3,008												9,130												9,085
Restructuring costs (1)						9,828												15,601												9,828												15,601
Other adjustments (2)						1,728												788												5,729												893
Non-GAAP net loss (as a percentage of revenue)						$	(42,240)					(42)%						$	(105,939)					(96)		%				$	(132,493)					(42)%						$	(245,336)					(63)%
Provision for (benefit from) income taxes						1,511												(315)												3,567												162
Non-GAAP pre-tax net loss (as a percentage of revenue)						$	(40,729)					(41)%						$	(106,254)					(96)		%				$	(128,926)					(41)%						$	(245,174)					(63)%
Depreciation						4,230												4,135												13,074												12,076
Interest income						(1,604)												(1,868)												(6,930)												(6,168)
Interest expense						9,315												3,820												22,486												9,673
Other expense (income), net						202												2,815												1,090												2,173
Non-GAAP Adjusted EBITDA Loss (as a percentage of revenue)						$	(28,586)					(29)%						$	(97,352)					(88)		%				$	(99,206)					(31)%						$	(227,420)					(58)%

 

(1)Consists of restructuring costs for severances and employment-related termination costs, and facility and other contract terminations.

(2)Consists of non-cash charges related to tax liabilities and litigation settlements, including associated non-recurring legal expenses and professional service fees related to the modification of the convertible debt.

Page 9

Cover	Dec. 04, 2024
Cover [Abstract]
Document Type	8-K
Document Period End Date	Dec. 04, 2024
Entity Registrant Name	ChargePoint Holdings, Inc.
Entity Incorporation, State or Country Code	DE
Entity File Number	001-39004
Entity Tax Identification Number	84-1747686
Entity Address, Address Line One	240 East Hacienda Avenue
Entity Address, City or Town	Campbell
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95008
City Area Code	408
Local Phone Number	841-4500
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, par value $0.0001
Trading Symbol	CHPT
Security Exchange Name	NYSE
Entity Emerging Growth Company	false
Entity Central Index Key	0001777393
Amendment Flag	false

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