ChargePoint (CHPT) Posts Strong Q2 Results, But Q3 Outlook Raises Concerns

ChargePoint Holdings, Inc. (NYSE:CHPT) reported stronger-than-expected second-quarter fiscal 2027 results on September 2. Revenue rose 18% year over year to $116.1 million, exceeding the $105.2 million analyst estimate, while its adjusted loss of 35 cents per share was narrower than the expected 85-cent loss, according to LSEG estimates. Higher North American home-charging sales supported the outperformance. Networked charging systems revenue increased 25% to $62.9 million, while subscription revenue rose 10% to $43.7 million. The non-GAAP adjusted EBITDA loss narrowed 78% to $4.8 million from $22.1 million a year earlier. ChargePoint also reported record non-GAAP gross margin, although tariff refunds contributed a four-percentage-point benefit, meaning some improvement may not represent underlying operating performance. The company extended its long-standing Mercedes-Benz partnership through an agreement covering charging solutions for fleet operators in the UK and Germany. Agreements with Optimus Energy Solutions and Onvo are expected to add hundreds of charging ports across the eastern US. ChargePoint also appointed automotive-industry veteran John Saffrett as Executive Vice President and Managing Director for Europe, responsible for sales, customer relationships, partnerships and expansion. TD Cowen maintained a Hold rating and $7.50 price target. Oppenheimer reiterated Perform, citing early traction from new products and increased investment in the European Union, where EV adoption continues. It also said autonomous-vehicle charging infrastructure could be approaching an inflection point and viewed ChargePoint as a leading provider. The main concern is the Q3 outlook. Revenue guidance of $105 million to $115 million implies approximately 4% year-over-year growth at the midpoint, versus 18% in Q2. ChargePoint remains unprofitable despite its improved adjusted EBITDA loss. Insider Monkey recorded 14 hedge funds holding the stock in Q2 2026, unchanged from Q1. As of September 4, shares were up 40.48% year to date but remained below the 52-week high of $12.61. Short interest was 22.59% of float on August 14. The consensus rating was Hold, with a $7.50 target implying 24.17% downside. Disclosure: None.