![]() ![]() The company reported a second-quarter net loss of $0.29 per diluted share, compared to a loss of $6.97 per share a year earlier.ĬhargePoint Holdings Inc ended the second quarter with $618.5 million of cash.įor the third quarter of fiscal 2022, ChargePoint expects to report revenue of $60.0–$65.0 million. (Source: “ ChargePoint Reports Second Quarter Fiscal 2022 Financial Results Raises Full-Year Revenue Guidance,” ChargePoint Holdings Inc, September 1, 2021.) Its networking charging revenue increased by 91% to $40.9 million. Q2 Loss Shrinks Sales & Revenue Guidance Riseįor the second quarter of fiscal 2022 (ended July 31, 2021), ChargePoint announced that its revenue increased by 61% year-over-year to a record $56.1 million. It also has more than 118,000 charging stations in North America and Europe.Īnd the company is going to get a lot bigger.ĬhargePoint Holdings Inc's addressable market is massive: every place where vehicles park in North America and Europe. ![]() (Source: Ibid.)ĬhargePoint has more than 5,000 commercial and fleet customers, including 76% of the Fortune 50 companies. The company makes its money from hardware, recurring software, and services (parts and labor) from its three lines of business: Commercial Products, Fleet Products, and Residential Products.ĬhargePoint Holdings Inc has more market share (more than 70%) in networked Level 2 charging than the closest North American competitors: SemaConnect (10%), Blink Charging Co (NASDAQ:BLNK) (eight percent), EV Connect (four percent), Royal Dutch Shell (NYSE:RDS.A) (three percent), and Volta Inc (NYSE:VLTA) (two percent). CHPT Stock Overviewįounded in 2007, ChargePoint Holdings Inc has built one of the world’s largest EV charging networks. and Europe is projected to be $60.0 billion by 2030 and $192.0 billion by 2040. The cumulative EV charging infrastructure investment in the U.S. To prevent EV drivers from getting stressed out about their vehicles running out of electricity, the world’s roadways will need to be populated with hundreds of thousands of stations. The majority of EVs can only travel 200 to 400 kilometers (125 to 250 miles) on a single charge. To make this a reality, the U.S., Europe, and other areas will need a massive network of EV charging stations (which ChargePoint Holdings Inc can provide). and Europe, EVs are projected to account for roughly 10% of all vehicle sales by 2025 and approximately 30% in 2030 (compared to 2.6% in 2019). In the U.S., automakers are hoping that up to 50% of their vehicle sales will be electric by 2030. Ten European countries and dozens of cities plan to ban sales of new internal combustion engine vehicles by 2035. (Source: “ Driving the Electrification of Mobility,” ChargePoint Holdings Inc, last accessed September 17, 2021.) The electrification of vehicles is undisputed, with drivers around the world switching to EVs at record rates. Why are analysts so bullish on ChargePoint stock? ![]()
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