Sep 02, 2021 (Baystreet.ca via COMTEX) -- ChargePoint Holdings Inc /zigman2/quotes/214140886/composite CHPT -0.53% shares rose Thursday on reporting second-quarter revenue growth of ~61% year-over-year to $56.12 million, beating the consensus of $49.06 million.
The company says revenue growth was significant in North America and Europe across the commercial, fleet, and residential verticals.
EPS was $(0.29). Net loss attributable to common stockholders narrowed to $(92.4) million.
Gross profit increased by 19.4% Y/Y to $10.78 million, and margin contracted by 660 bps to 19.2%.
Loss from operation expanded to $(74.29) million, compared to a loss of $(23.5) million a year ago.
The company held cash and equivalents of $618.5 million as of July 31.
ChargePoint cash used in operating activities year-to-date was $61.19 million, compared to $50.07 million a year ago.
The company's activated ports exceed 118,000 as of July 31, with over 5,400 in Europe and over 3,700 DC fast charge ports.
In the third quarter, ChargePoint expects revenue of $60 million - $65 million versus the consensus of $54.65 million.
During fiscal 2022, the company expects revenue of $225 million - $235 million (prior $195 million - $205 million) versus the consensus of $206.56 million.
CHPT shares are trading higher by $1.20, or 5.7%, at $22.43 Thursday.
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