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20 Dec 2022 • 1 min read

Metergram Insights: ChargePoint Report Reveals The Company Has Posted its First $100 Million Quarter

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One of the leading electric vehicle charging networks, ChargePoint, has released the report for its second quarter fiscal year 2023 financial results. The company has been around since 2007 and since then has constructed an extensive EV charging network spanning more than 200,000 locations. Through these, they provide personal and commercial EV charging options in the North American and European markets. According to the President and CEO of ChargePoint, Pasquale Romano, the company delivered another strong quarter, with continued growth across all verticals and geographies.

The ChargePoint second quarter fiscal 2023 financial overview paints a very positive picture for electric vehicle owners and charge point operators. ChargePoint saw its revenue grow 93% year-over-year, and the company posted its first $100 million quarter. The report also shows that GAAP and Non-GAAP gross margins improved two percentage points quarter-over-quarter. 

ChargePoint also revealed its third fiscal quarter and full fiscal year projections in the report. For the third fiscal quarter ending October 31, 2022, they expect revenue of $125 million to $135 million. This would represent an increase of 100% compared to the same quarter last year. For the full fiscal year ending January 31, 2023, they anticipate a 96% increase compared to the prior year, which would mean revenue of $450 million to $500 million. 

All of this is good news for EV owners as it clearly shows a growing demand for electric vehicles along with growth in the supporting infrastructure. To view the complete report, visit the official ChargePoint website (https://investors.chargepoint.com/news/news-details/2022/ChargePoint-reports-second-quarter-fiscal-year-2023-financial-results/default.aspx).

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