ChargePoint Holdings, Inc.

Revenue for Q1 fiscal 2027 was $102 million, up 4% year over year and above the top end of guidance. Non-GAAP gross margin was 32%, up 1 percentage point year over year; network charging systems revenue was $53 million, subscription revenue was $41 million, and other revenue was $8 million. Non-GAAP operating expenses were $54 million, down from $58 million in Q4 and 4% lower year over year, and non-GAAP adjusted EBITDA loss was $19 million versus a $23 million loss in Q1 last year. Inventory ended at $204 million, cash was $96 million, and stock-based compensation was $11 million, down from $18 million year over year. For Q2 fiscal 2027, ChargePoint expects revenue of $100 million to $110 million, which it said represents 7% year-over-year growth at the midpoint. Management also said margins should stay around current levels in the near term, with a step-up in gross margins when new products scale more meaningfully next year.

Richard Wilmer framed the quarter as a sign that ChargePoint is shifting from operational cleanup to growth, saying the company is entering the third year of its three-year plan as a stronger, leaner, more focused platform company. He emphasized renewed demand, the launch and early traction of Xpress Solo, and the company’s use of AI to improve both internal efficiency and customer software capabilities. His tone was upbeat and confident, with repeated comments that margins will improve, growth has returned, and the company is becoming more durable and differentiated.

Mansi Khetani focused on margin discipline, expense control, and balance-sheet progress. She cited Q1 revenue of $102 million, non-GAAP gross margin of 32%, non-GAAP OpEx of $54 million, and a non-GAAP adjusted EBITDA loss of $19 million; she also noted inventory declined to $204 million from $215 million in the prior quarter and cash ended at $96 million. She said subscription margin was above 60% on a non-GAAP basis, near-term margins should remain around the Q1 level, OpEx should come down further in the second half, and inventory reduction should continue to free up cash, with the potential for positive operating cash flow later in the year.

Analysts focused on the revenue sustainment outlook, gross-margin trajectory, inventory management, and whether new product launches could create stranded or obsolete inventory. Management said the growth momentum should continue as EV market conditions improve and Xpress products begin production in the second half, while inventory is being deliberately run down through existing commitments and field replacements to avoid obsolescence. On margins, ChargePoint said the near-term profile should stay similar to Q1, but gross margin should step up once new products scale in volume next year. Management also said supply chain conditions are generally good, though memory pricing is rising because of data-center demand.