• Quarterly revenue increased 79% year over year
  • Full-year revenue guidance raised to $235 – $240 million
  • Activated ports of approximately 163,000 as of October 31; with approximately 45,000 in Europe
  • Closed acquisitions of European e-mobility technology provider has·to·be and eBus and commercial vehicle management provider ViriCiti

 

ChargePoint Holdings, Inc. (NYSE:CHPT) (“ChargePoint”), a leading electric vehicle (EV) charging network, today reported results for its third quarter of fiscal 2022 ended October 31, 2021.

“ChargePoint has delivered another strong quarter, as we have continued to scale our commercial, fleet and residential verticals across two continents,” said Pasquale Romano, President and CEO of ChargePoint. “The investments we have made over many years have enabled us to capture charging demand from customers preparing for an electric future. This quarter we added more customers at an accelerated rate, while also successfully closing two acquisitions."

Third Quarter Fiscal 2022 Financial Overview

  • Revenue. For the third quarter, revenue was $65.0 million, an increase of 79% from $36.4 million in the prior year’s same quarter. Networked charging revenue for the third quarter was $47.5 million, an increase of 111% from $22.6 million and subscription revenue was $13.4 million, up 24% from $10.8 million in the prior year’s same quarter. Revenue growth was significant in North America and Europe across ChargePoint's commercial, fleet and residential verticals.
  • Gross Margin. Third quarter GAAP gross margin was 25%, up from 20% in the prior year's same quarter primarily as a result of product cost improvements and the impact of acquisitions. Third quarter non-GAAP gross margin, which primarily excludes stock-based compensation expense and amortization from acquired intangible assets, was 27% compared to 20% in the prior year's same quarter.
  • Net Income/Loss. Third quarter GAAP net loss was $69.4 million, which included a $2.4 million loss from the change in fair value of warrant liabilities and $16.0 million in stock-based compensation expense. Non-GAAP pre-tax net loss, which excludes stock-based compensation expense and other items, in the third quarter was $47.3 million as compared to $32.5 million in the prior year's same quarter.
  • Liquidity. As of October 31, 2021, cash on the balance sheet was $365.9 million following approximately $210 million of cash payments for both acquisitions.
  • Shares Outstanding. As of October 31, 2021, there were approximately 331 million shares of common stock outstanding.

For a reconciliation of our GAAP to non-GAAP results, please see the tables below.

Fourth Quarter and Full-year Guidance

ChargePoint expects revenue of $73 - $78 million for its fourth quarter ending January 31, 2022, and is raising its full year revenue outlook to $235 - $240 million, from $225 - $235 million, for the fiscal year ending January 31, 2022.

Conference Call Information

ChargePoint will host a webcast today at 1:30 p.m. Pacific / 4:30 p.m. Eastern to review its third quarter fiscal 2022 financial results and its outlook for the fourth quarter of and full-year fiscal 2022.

Investors may access the webcast, supplemental financial information and investor presentation at ChargePoint’s investor relations website (investors.chargepoint.com) under the “Events and Presentations” section. A replay will be available three hours after the conclusion of the webcast and archived for one year.

About ChargePoint

ChargePoint is creating a new fueling network to move people and goods on electricity. Since 2007, ChargePoint has been committed to making it easy for businesses and drivers to go electric with one of the largest EV charging networks and a comprehensive portfolio of charging solutions available today. ChargePoint’s cloud subscription platform and software-defined charging hardware are designed to include options for every charging scenario from home and multifamily to workplace, parking, hospitality, retail and transport fleets of all types. Today, one ChargePoint account provides access to hundreds-of-thousands of places to charge in North America and Europe. To date, more than 98 million charging sessions have been delivered, with drivers plugging into the ChargePoint network every two seconds or less. For more information, visit the ChargePoint pressroom, the ChargePoint Investor Relations site, or contact ChargePoint’s North American or European press offices or Investor Relations.

Forward-Looking Statements

This press release contains forward-looking statements that involve risks, uncertainties, and assumptions including statements regarding our financial outlook for the fourth fiscal quarter and fiscal year ending January 31, 2022. There are a significant number of factors that could cause actual results to differ materially from the statements made in this press release, including: developments and changes in the general market; the continuing impact of COVID-19, including in our business and those of our customers and suppliers; political, economic, and business conditions; our limited operating history as a public company; our ability as an organization to successfully integrate ViriCiti and has·to·be and acquire and integrate other companies, products or technologies in a successful manner; our dependence on widespread acceptance and adoption of EVs and increased installation of charging stations; our current dependence on sales of charging stations for most of our revenues; overall demand for EV charging and the potential for reduced demand for EVs if governmental rebates, tax credits and other financial incentives are reduced, modified or eliminated or governmental mandates to increase the use of EVs or decrease the use of vehicles powered by fossil fuels, either directly or indirectly through mandated limits on carbon emissions, are reduced, modified or eliminated; supply chain interruptions and expense increases; unexpected delays in new product introductions; our ability to expand our operations and market share in Europe; the need to attract additional fleet operators as customers; potential adverse effects on our revenue and gross margins if customers increasingly claim clean energy credits and, as a result, they are no longer available to be claimed by us; the effects of competition; risks related to our dependence on our intellectual property; and the risk that our technology could have undetected defects or errors. Additional risks and uncertainties that could affect our financial results are included under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Form 10-Q filed with the Securities and Exchange Commission (the “SEC”) on September 10, 2021, which is available on our website at investors.chargepoint.com and on the SEC’s website at www.sec.gov. Additional information will also be set forth in other filings that we make with the SEC from time to time. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made, except as required by applicable law.

Use of Non-GAAP Financial Measures

ChargePoint has provided in this press release financial information that has not been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”). The Company uses these non-GAAP financial measures internally in analyzing its financial results and believes that the use of these non-GAAP financial measures is useful to investors to evaluate ongoing operating results and trends, and in comparing the Company’s financial results with other companies in its industry as well other technology companies, many of which present similar non-GAAP financial measures.

The presentation of these non-GAAP financial measures is not meant to be considered in isolation or as a substitute for comparable GAAP financial measures and should be read only in conjunction with the Company’s consolidated financial statements prepared in accordance with GAAP. A reconciliation of the company’s historical non-GAAP financial measures to their most directly comparable GAAP measures has been provided in the financial statement tables included in this press release, and investors are encouraged to review these reconciliations.

Non-GAAP Gross Profit (Gross Margin). ChargePoint defines non-GAAP gross profit as gross profit excluding amortization expense of acquired intangible assets, stock-based compensation expense, and non-recurring costs associated with restructuring. Non-GAAP gross margin is non-GAAP gross profit as a percentage of revenue.

Non-GAAP Cost of Revenue and Operating Expenses (includes Non-GAAP research and development, Non-GAAP sales and marketing and Non-GAAP general and administrative). ChargePoint defines Non-GAAP cost of revenue and operating expenses as cost of revenue and operating expenses excluding amortization expense of acquired intangible assets, stock-based compensation expense, earn-out-related payroll tax expense, non-recurring costs associated with restructuring and professional services fees related to acquisitions and security offerings.

Non-GAAP Net Loss. ChargePoint defines non-GAAP net loss as net income (loss) excluding amortization expense of acquired intangible assets, stock-based compensation expense and the associated stock-based payroll tax expense, non-recurring costs associated with restructuring, offering costs allocated to warrant liabilities or for share offerings, professional services fees related to acquisitions and security offerings, and non-cash charges related to the revaluation of warrants, earn-out liabilities, and other financial instruments. These amounts do not reflect the impact of any related tax effects. Non-GAAP pre-tax net loss is non-GAAP net loss adjusted for provision for income taxes.

Investors are cautioned that there are a number of limitations associated with the use of non-GAAP financial measures to analyze financial results and trends. In particular, many of the adjustments to ChargePoint’s GAAP financial measures reflect the exclusion of items that are recurring and will be reflected in its financial results for the foreseeable future, such as stock-based compensation, which is an important part of ChargePoint’s employees’ compensation and impacts hiring, retention and performance. Furthermore, these non-GAAP financial measures are not based on any standardized methodology prescribed by GAAP, and the components that ChargePoint excludes in its calculation of non-GAAP financial measures may differ from the components that other companies exclude when they report their non-GAAP results. ChargePoint compensates for these limitations by providing specific information regarding the GAAP amounts excluded from these non-GAAP financial measures. In the future, ChargePoint may also exclude other expenses it determines do not reflect the performance of the Company’s operating results.

CHPT-IR

ChargePoint Holdings, Inc.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share amounts; unaudited)

 

 

Three Months Ended October 31,

 

Nine Months Ended October31,

 

2021

 

2020

 

2021

 

2020

Revenue

 

 

 

 

 

 

 

Networked charging systems

$

47,511

 

 

$

22,566

 

 

$

115,185

 

 

$

63,591

 

Subscriptions

13,397

 

 

10,782

 

 

36,303

 

 

29,597

 

Other

4,126

 

 

3,017

 

 

10,177

 

 

10,910

 

Total revenue

65,034

 

 

36,365

 

 

161,665

 

 

104,098

 

Cost of revenue

 

 

 

 

 

 

 

Networked charging systems

38,720

 

 

22,382

 

 

97,846

 

 

61,406

 

Subscriptions

7,637

 

 

5,322

 

 

21,107

 

 

14,547

 

Other

2,621

 

 

1,408

 

 

6,662

 

 

4,100

 

Total cost of revenue

48,978

 

 

29,112

 

 

125,615

 

 

80,053

 

Gross profit

16,056

 

 

7,253

 

 

36,050

 

 

24,045

 

Operating expenses

 

 

 

 

 

 

 

Research and development

36,751

 

 

18,919

 

 

102,535

 

 

54,071

 

Sales and marketing

24,361

 

 

12,134

 

 

62,258

 

 

37,301

 

General and administrative

20,268

 

 

8,790

 

 

57,467

 

 

18,345

 

Total operating expenses

81,380

 

 

39,843

 

 

222,260

 

 

109,717

 

Loss from operations

(65,324

)

 

(32,590

)

 

(186,210

)

 

(85,672

)

Interest income

25

 

 

18

 

 

72

 

 

298

 

Interest expense

(3

)

 

(815

)

 

(1,502

)

 

(2,443

)

Change in fair value of redeemable convertible preferred stock warrant liability

 

 

(7,320

)

 

9,237

 

 

(18,301

)

Change in fair value of assumed common stock warrant liabilities

(2,429

)

 

 

 

30,911

 

 

 

Change in fair value of contingent earnout liability

 

 

 

 

84,420

 

 

 

Transaction costs expensed

 

 

 

 

(7,031

)

 

 

Other (expense) income, net

(2,025

)

 

(85

)

 

(2,200

)

 

46

 

Net loss before income taxes

(69,756

)

 

(40,792

)

 

(72,303

)

 

(106,072

)

Provision for income taxes

(314

)

 

98

 

 

(211

)

 

203

 

Net loss

$

(69,442

)

 

$

(40,890

)

 

$

(72,092

)

 

$

(106,275

)

Accretion of beneficial conversion feature of redeemable convertible preferred stock

 

 

(1,752

)

 

 

 

(60,377

)

Cumulative undeclared dividends on redeemable convertible preferred stock

 

 

(3,960

)

 

(4,292

)

 

(3,960

)

Deemed dividends attributable to vested option holders

 

 

 

 

(51,855

)

 

 

Deemed dividends attributable to common stock warrants holders

 

 

 

 

(110,635

)

 

 

Net loss attributable to common stockholders, basic

$

(69,442

)

 

$

(46,602

)

 

$

(238,874

)

 

$

(170,612

)

Gain attributable earnout shares issued

 

 

 

 

(84,420

)

 

 

Change in fair value of dilutive warrants

 

 

 

 

(51,106

)

 

 

Net loss attributable to common stockholders, diluted

$

(69,442

)

 

$

(46,602

)

 

$

(374,400

)

 

$

(170,612

)

Net loss per share - Basic

$

(0.21

)

 

$

(3.11

)

 

$

(0.84

)

 

$

(12.59

)

Net loss per share - Diluted

$

(0.21

)

 

$

(3.11

)

 

$

(1.28

)

 

$

(12.59

)

Weighted average shares outstanding - Basic

325,034,920

 

 

14,990,866

 

 

286,025,483

 

 

13,550,552

 

Weighted average shares outstanding - Diluted

325,034,920

 

 

14,990,866

 

 

292,575,318

 

 

13,550,552

 

ChargePoint Holdings, Inc.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, unaudited)

 

 

October 31, 2021

 

January 31, 2021

Assets

 

 

 

Current assets:

 

 

 

Cash and cash equivalents

$

365,491

 

 

$

145,491

 

Restricted cash

400

 

 

400

 

Accounts receivable, net

66,104

 

 

35,075

 

Inventories

29,893

 

 

33,592

 

Prepaid expenses and other current assets

32,695

 

 

12,074

 

Total current assets

494,583

 

 

226,632

 

Property and equipment, net

34,726

 

 

29,988

 

Intangible assets, net

147,439

 

 

 

Operating lease right-of-use assets

23,621

 

 

21,817

 

Goodwill

196,098

 

 

1,215

 

Other assets

12,620

 

 

10,468

 

Total assets

$

909,087

 

 

$

290,120

 

Liabilities, Redeemable Convertible Preferred Stock, and Stockholders' Deficit

 

 

 

Current liabilities:

 

 

 

Accounts payable

$

32,084

 

 

$

19,784

 

Accrued and other current liabilities

76,473

 

 

47,162

 

Deferred revenue

58,877

 

 

40,934

 

Debt, current

 

 

10,208

 

Total current liabilities

167,434

 

 

118,088

 

Deferred revenue, noncurrent

62,364

 

 

48,896

 

Debt, noncurrent

 

 

24,686

 

Operating lease liabilities

23,795

 

 

22,459

 

Deferred Tax Liabilities

35,962

 

 

 

Common stock warrant liability

29,282

 

 

 

Redeemable convertible preferred stock warrant liability

 

 

75,843

 

Other long-term liabilities

4,852

 

 

972

 

Total liabilities

323,689

 

 

290,944

 

Redeemable convertible preferred stock

 

 

615,697

 

Stockholders' equity (deficit):

 

 

 

Common stock

33

 

 

2

 

Additional paid-in capital

1,337,247

 

 

62,736

 

Accumulated other comprehensive income (loss)

(376

)

 

155

 

Accumulated deficit

(751,506

)

 

(679,414

)

Total stockholders' equity (deficit)

585,398

 

 

(616,521

)

Total liabilities, redeemable convertible preferred stock, and stockholders' equity (deficit)

$

909,087

 

 

$

290,120

 

ChargePoint Holdings, Inc.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands, unaudited)

 

 

Nine Months Ended October 31,

 

2021

 

2020

Cash flows from operating activities

 

 

 

Net loss

$

(72,092

)

 

$

(106,275

)

Adjustments to reconcile net loss to net cash used in operating activities:

 

 

 

Depreciation and amortization

10,158

 

 

7,463

 

Non-cash operating lease cost

3,066

 

 

2,865

 

Stock-based compensation

51,893

 

 

3,308

 

Amortization of deferred contract acquisition costs

1,291

 

 

858

 

Deferred tax benefit

(370

)

 

 

Change in fair value of redeemable convertible preferred stock warrant liability

(9,237

)

 

18,301

 

Change in fair value of common stock warrant liabilities

(30,911

)

 

 

Change in fair value of contingent earnout liabilities

(84,420

)

 

 

Transaction costs expensed

7,031

 

 

 

Other

2,203

 

 

1,043

 

Changes in operating assets and liabilities, net of effect of acquisitions:

 

 

 

Accounts receivable, net

(26,579

)

 

10,053

 

Inventories

3,498

 

 

(5,975

)

Prepaid expenses and other assets

(18,879

)

 

(8,388

)

Operating lease liabilities

(2,193

)

 

(2,431

)

Accounts payable

10,633

 

 

(2,397

)

Accrued and other liabilities

16,110

 

 

1,569

 

Deferred revenue

29,715

 

 

9,085

 

Net cash used in operating activities

(109,083

)

 

(70,921

)

Cash flows from investing activities

 

 

 

Purchases of property and equipment

(12,064

)

 

(8,913

)

Maturities of investments

 

 

47,014

 

Cash paid for acquisition, net of cash acquired

(205,329

)

 

 

Net cash (used in) provided by investing activities

(217,393

)

 

38,101

 

Cash flows from financing activities

 

 

 

Proceeds from issuance of redeemable convertible preferred stock

 

 

95,514

 

Proceeds from issuance of common stock warrants, net of issuance costs

 

 

31,545

 

Proceeds from the exercise of public warrants

118,845

 

 

 

Merger and PIPE financing

511,646

 

 

 

Payment of deferred transaction costs

 

 

(513

)

Payments of transaction costs related to Merger

(32,468

)

 

 

Payment of tax withholding obligations on settlement of earnout shares

(20,895

)

 

 

Repayment of borrowings

(36,051

)

 

 

Proceeds from issuance of stock in connection with stock plans, net of withholding taxes

4,214

 

 

2,201

 

Change in driver funds and amounts due to customers

1,933

 

 

 

Net cash provided by financing activities

547,224

 

 

128,747

 

Effect of exchange rate changes on cash, cash equivalents, and restricted cash

(748

)

 

13

 

Net increase in cash, cash equivalents, and restricted cash

220,000

 

 

95,940

 

Cash, cash equivalents, and restricted cash at beginning of period

145,891

 

 

73,153

 

Cash, cash equivalents, and restricted cash at end of period

$

365,891

 

 

$

169,093

 

ChargePoint Holdings, Inc.

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

(In thousands, unaudited)

 

 

 

Three Months Ended October 31, 2021

 

Three Months Ended October 31, 2020

 

Nine Months Ended October 31, 2021

 

Nine Months Ended October 31, 2020

Cost of Revenue:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GAAP cost of revenue

 

$

48,978

 

 

 

 

$

29,112

 

 

 

 

$

125,615

 

 

 

 

$

80,053

 

 

 

Stock-based compensation expense

 

(885

)

 

 

 

(29

)

 

 

 

(3,073

)

 

 

 

(93

)

 

 

Restructuring subsidies (1)

 

 

 

 

 

49

 

 

 

 

 

 

 

 

100

 

 

 

Amortization of intangible assets

 

(426

)

 

 

 

 

 

 

 

(426

)

 

 

 

 

 

 

Non-GAAP cost of revenue

 

$

47,667

 

 

 

 

$

29,132

 

 

 

 

$

122,116

 

 

 

 

$

80,060

 

 

 

Non-GAAP gross profit (gross margin as a percentage of revenue)

 

$

17,367

 

 

27

%

 

$

7,233

 

 

20

%

 

$

39,549

 

 

24

%

 

$

24,039

 

 

23

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating Expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GAAP research and development

 

$

36,751

 

 

 

 

$

18,919

 

 

 

 

$

102,535

 

 

 

 

$

54,071

 

 

 

Stock-based compensation expense

 

(5,840

)

 

 

 

(448

)

 

 

 

(20,198

)

 

 

 

(1,205

)

 

 

Restructuring subsidies (costs) (1)

 

 

 

 

 

27

 

 

 

 

 

 

 

 

(169

)

 

 

Earn-out-related taxes (2)

 

 

 

 

 

 

 

 

 

(358

)

 

 

 

 

 

 

Acquisition-related costs (3)

 

 

 

 

 

 

 

 

 

(86

)

 

 

 

 

 

 

Cost related to secondary offering

 

 

 

 

 

 

 

 

 

(80

)

 

 

 

 

 

 

Non-GAAP research and development (as a percentage of revenue)

 

$

30,911

 

 

48

%

 

$

18,498

 

 

51

%

 

$

81,813

 

 

51

%

 

$

52,697

 

 

51

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GAAP sales and marketing

 

$

24,361

 

 

 

 

$

12,134

 

 

 

 

$

62,258

 

 

 

 

$

37,301

 

 

 

Stock-based compensation expense

 

(2,251

)

 

 

 

(333

)

 

 

 

(7,018

)

 

 

 

(988

)

 

 

Restructuring subsidies (costs) (1)

 

 

 

 

 

143

 

 

 

 

 

 

 

 

(68

)

 

 

Earn-out-related taxes (2)

 

 

 

 

 

 

 

 

 

(424

)

 

 

 

 

 

 

Acquisition-related costs (3)

 

 

 

 

 

 

 

 

 

(43

)

 

 

 

 

 

 

Cost related to secondary offering

 

 

 

 

 

 

 

 

 

(40

)

 

 

 

 

 

 

Amortization of intangible assets

 

(1,092

)

 

 

 

 

 

 

 

(1,092

)

 

 

 

 

 

 

Non-GAAP sales and marketing (as a percentage of revenue)

 

$

21,018

 

 

32

%

 

$

11,944

 

 

33

%

 

$

53,641

 

 

33

%

 

$

36,245

 

 

35

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GAAP general and administrative

 

$

20,268

 

 

 

 

$

8,790

 

 

 

 

$

57,467

 

 

 

 

$

18,345

 

 

 

Stock-based compensation expense

 

(7,046

)

 

 

 

(398

)

 

 

 

(21,604

)

 

 

 

(1,022

)

 

 

Restructuring costs (1)

 

 

 

 

 

27

 

 

 

 

 

 

 

 

(339

)

 

 

Earn-out-related taxes (2)

 

 

 

 

 

 

 

 

 

(713

)

 

 

 

 

 

 

Acquisition-related costs (3)

 

(2,435

)

 

 

 

 

 

 

 

(5,118

)

 

 

 

 

 

 

Cost related to secondary offering

 

(15

)

 

 

 

 

 

 

 

(2,517

)

 

 

 

 

 

 

Non-GAAP general and administrative (as a percentage of revenue)

 

$

10,772

 

 

17

%

 

$

8,419

 

 

23

%

 

$

27,515

 

 

17

%

 

$

16,984

 

 

16

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-GAAP Operating Expenses (as a percentage of revenue)

 

$

62,701

 

 

96

%

 

$

38,861

 

 

107

%

 

$

162,969

 

 

101

%

 

$

105,926

 

 

102

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Loss:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GAAP net loss

 

$

(69,442

)

 

 

 

$

(40,890

)

 

 

 

$

(72,092

)

 

 

 

$

(106,275

)

 

 

Stock-based compensation expense

 

16,022

 

 

 

 

1,208

 

 

 

 

51,893

 

 

 

 

3,308

 

 

 

Restructuring subsidies (costs) (1)

 

 

 

 

 

(246

)

 

 

 

 

 

 

 

476

 

 

 

Earn-out-related taxes (2)

 

 

 

 

 

 

 

 

 

1,495

 

 

 

 

 

 

 

Acquisition-related costs (3)

 

2,435

 

 

 

 

 

 

 

 

5,247

 

 

 

 

 

 

 

Cost related to secondary offering

 

15

 

 

 

 

 

 

 

 

2,637

 

 

 

 

 

 

 

Amortization of intangible assets

 

1,518

 

 

 

 

 

 

 

 

1,518

 

 

 

 

 

 

 

Change in fair value of preferred stock warrant liability

 

 

 

 

 

7,320

 

 

 

 

(9,237

)

 

 

 

18,301

 

 

 

Change in fair value of assumed common stock warrant liability

 

2,429

 

 

 

 

 

 

 

 

(30,911

)

 

 

 

 

 

 

Change in fair value of contingent earn-out liability

 

 

 

 

 

 

 

 

 

(84,420

)

 

 

 

 

 

 

Offering costs allocated to warrant liabilities

 

 

 

 

 

 

 

 

 

7,031

 

 

 

 

 

 

 

Non-GAAP net loss (as a percentage of revenue)

 

$

(47,023

)

 

(72)

%

 

$

(32,608

)

 

(90)

%

 

$

(126,839

)

 

(78)

%

 

$

(84,190

)

 

(81)

%

Provision for income taxes

 

(314

)

 

 

 

98

 

 

 

 

(211

)

 

 

 

203

 

 

 

Non-GAAP pre-tax net loss (as a percentage of revenue)

 

$

(47,337

)

 

(73)

%

 

$

(32,510

)

 

(89)

%

 

$

(127,050

)

 

(79)

%

 

$

(83,987

)

 

(81)

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)

Consists of restructuring costs for severances and related termination costs, net of any governmental assistance programs.

(2)

Consists of employment taxes paid related to shares issued as part of the earnout.

(3)

Consists of professional services fees related to acquisitions.

 

Investor Relations Patrick Hamer VP, Capital Markets and Investor Relations Patrick.Hamer@chargepoint.com investors@chargepoint.com

Press Jennifer Bowcock VP, Communications Jennifer.Bowcock@chargepoint.com media@chargepoint.com

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