Summary by Futu AI
On June 5, 2024, ChargePoint Holdings, Inc., a leading electric vehicle (EV) charging network provider, released its financial results for the first quarter of fiscal year 2025, which ended on April 30, 2024. The company reported a revenue of $107 million, a decrease of 18% from the previous year's quarter. Despite the decline in networked charging systems revenue, which fell 34% to $65.4 million, subscription revenue grew by 27% to $33 million. ChargePoint's GAAP gross margin was 22%, slightly down from 23% in the same quarter of the previous year, while non-GAAP gross margin was 24%, down from 25%. The company also saw a reduction in operating expenses, with GAAP operating expenses decreasing by 18% to $90.7 million and non-GAAP operating expenses down by 22% to $66.4 million. The GAAP net loss improved by 10% to...Show More