Summary by Futu AI
ChargePoint Holdings, Inc., a leading electric vehicle (EV) charging network provider, reported its financial results for the fourth quarter and full fiscal year ended January 31, 2024, on March 5, 2024. The company announced a fiscal fourth-quarter revenue of $116 million and a full fiscal year revenue of $507 million. Despite a 41% year-over-year growth in subscription revenue, totaling $120 million for the fiscal year, ChargePoint experienced a decrease in quarterly revenue by 24% from the same quarter in the previous year. The GAAP gross margin for the fourth quarter was 19%, with a non-GAAP gross margin of 22%. For the full fiscal year, the GAAP gross margin was 6%, and the non-GAAP gross margin was 8%. The company reported a GAAP net loss of $94.7 million for the...Show More