ChargePoint reported Q2 FY2025 revenue of $108.5 million, down 28% year-over-year from $150.5 million, as networked charging systems revenue declined 44% to $64.1 million. Gross profit improved to $25.6 million with a 23.6% margin, compared to $1.1 million and 0.7% margin in the prior year quarter which included a $28 million inventory impairment charge.Operating expenses decreased significantly, with R&D costs down 39% to $36.5 million and sales/marketing expenses reduced 8% to $36.7 million, reflecting cost reduction measures and reorganization efforts. The company reported a net loss of $68.9 million, improved from a $125.3 million loss last year, while maintaining $243.7 million in cash and restricted cash.Looking ahead, ChargePoint announced a new 15% workforce reduction in September 2024 expected to cost approximately $10 million, as it continues optimizing operations amid market challenges. The company faces ongoing industry headwinds including EV adoption rates, competition, and macroeconomic factors, while working to improve operational efficiency and financial performance.

ChargePoint reported Q2 FY2025 revenue of $108.5 million, down 28% year-over-year from $150.5 million, as networked charging systems revenue declined 44% to $64.1 million. Gross profit improved to $25.6 million with a 23.6% margin, compared to $1.1 million and 0.7% margin in the prior year quarter which included a $28 million inventory impairment charge.Operating expenses decreased significantly, with R&D costs down 39% to $36.5 million and sales/marketing expenses reduced 8% to $36.7 million, reflecting cost reduction measures and reorganization efforts. The company reported a net loss of $68.9 million, improved from a $125.3 million loss last year, while maintaining $243.7 million in cash and restricted cash.Looking ahead, ChargePoint announced a new 15% workforce reduction in September 2024 expected to cost approximately $10 million, as it continues optimizing operations amid market challenges. The company faces ongoing industry headwinds including EV adoption rates, competition, and macroeconomic factors, while working to improve operational efficiency and financial performance.