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).