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On Thursday, Goldman Sachs analysts reiterated their Sell rating on ChargePoint (NYSE:CHPT) Holdings Inc. (NYSE: CHPT) stock, maintaining a price target of $0.50. The $403 million market cap company’s first-quarter fiscal year 2026 results reported revenue of $98 million, a 9% year-over-year decrease, and a non-GAAP EBITDA loss of $22.8 million. These figures fell short of market expectations of $101 million in revenue and a non-GAAP EBITDA loss of $18.6 million. According to InvestingPro data, the company’s revenue decline has accelerated to -17.68% over the last twelve months, with total EBITDA losses reaching $214 million.
ChargePoint’s management provided guidance for the second quarter of fiscal year 2026, projecting revenue between $90 million and $100 million. This guidance also fell below Wall Street estimates of $108 million. Despite the challenges, the company continues to aim for positive adjusted EBITDA within the fiscal year. InvestingPro analysis reveals that while the company maintains a healthy current ratio of 1.93, indicating strong short-term liquidity, it’s currently burning through cash at a concerning rate. Discover 11 more exclusive InvestingPro Tips and comprehensive financial metrics with an InvestingPro subscription.
Goldman Sachs analysts highlighted concerns about slower electric vehicle (EV) growth and weaker macroeconomic trends, which they believe could delay ChargePoint’s positive adjusted EBITDA target. They noted that U.S. EV sales experienced negative year-over-year growth in April and May, and several large traditional U.S. automakers have scaled back their EV growth targets.
The analysts also pointed to potential risks from changing government policies on tariffs, EV and EV charging incentives, and emissions requirements. They emphasized the importance of monitoring how a growing electric vehicle market and ChargePoint’s new relationship with Eaton (NYSE:ETN) might support revenue growth and help the company achieve positive EBITDA over time.
In other recent news, ChargePoint Holdings Inc. reported its first-quarter 2025 earnings, with revenue reaching $98 million, slightly below the forecast of $100.61 million. The company posted an earnings per share (EPS) of -$0.12, surpassing the expected -$0.13. Despite the revenue miss, ChargePoint’s stock experienced a significant rise following the announcement. The company reported improvements in non-GAAP gross margin and adjusted EBITDA loss, with a gross margin of 31% and an EBITDA loss of $23 million, an improvement from the previous year’s $36 million loss. ChargePoint also announced a strategic partnership with Eaton, expected to drive future growth and international expansion. The company maintained its number one market share in the U.S. for AC charging solutions and continues to expand its global charging network, now managing 352,000 ports. Looking ahead, ChargePoint provided revenue guidance for Q2 2025, projecting between $90 million and $100 million. The company aims to achieve adjusted EBITDA profitability in one quarter of fiscal 2026.
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