ChargePoint Holdings, Inc. (ChargePoint), a leading electric vehicle charging network, has responded to comments from the Securities and Exchange Commission (SEC) regarding its financial disclosures. In a letter dated June 17, 2024, ChargePoint addressed the SEC's concerns about the presentation of non-GAAP financial measures in its Form 10-K for the fiscal year ended January 31, 2024, and its Form 8-K furnished on March 5, 2024. The SEC's comments focused on the lack of reconciliation of non-GAAP measures to the most directly comparable GAAP measures, as well as the need for greater prominence of GAAP measures when non-GAAP measures are presented. ChargePoint acknowledged the comments and provided illustrative examples of how it will revise future filings to comply with SEC regulations. Additionally...Show More

ChargePoint Holdings, Inc. (ChargePoint), a leading electric vehicle charging network, has responded to comments from the Securities and Exchange Commission (SEC) regarding its financial disclosures. In a letter dated June 17, 2024, ChargePoint addressed the SEC's concerns about the presentation of non-GAAP financial measures in its Form 10-K for the fiscal year ended January 31, 2024, and its Form 8-K furnished on March 5, 2024. The SEC's comments focused on the lack of reconciliation of non-GAAP measures to the most directly comparable GAAP measures, as well as the need for greater prominence of GAAP measures when non-GAAP measures are presented. ChargePoint acknowledged the comments and provided illustrative examples of how it will revise future filings to comply with SEC regulations. Additionally, the SEC requested further disaggregation of revenue and clarification on revenue recognition for Networked Charging Systems. ChargePoint confirmed its commitment to revise its disclosures to meet the SEC's requirements and provided explanations for its revenue recognition practices. The company's interim CFO, Mansi Khetani, assured the SEC of ChargePoint's cooperation and readiness to discuss any further comments.