ChargePoint revenue rises 18% as Express ships

The revenue result was above ChargePoint’s guidance range of $100 million to $110 million and marked another quarter of year-on-year growth for the company.

Charging-system revenue grew faster than subscriptions

Networked charging systems revenue increased 25% from $50.4 million to $62.9 million. Subscription revenue rose 10% from $39.9 million to $43.7 million.

GAAP gross margin improved from 31% to 36%, while non-GAAP gross margin reached 38%. However, ChargePoint says both figures benefited by around four percentage points from tariff refunds during the quarter.

On the earnings call, management described normalised gross margin as around 35%, with improvements driven by hardware margins, scale, lower warranty and logistics costs, and a more favourable product mix.

Losses narrowed substantially

ChargePoint reported a GAAP net loss of $35.6 million, down from $66.2 million a year earlier. Adjusted EBITDA loss improved from $22.1 million to $4.8 million.

Cash, cash equivalents and restricted cash stood at $95.7 million at 31 July 2026.

The combination of higher hardware revenue, continued subscription growth and a much smaller adjusted EBITDA loss is more informative than the headline revenue figure alone as ChargePoint continues trying to move towards sustainable operating economics.

Express Solo has moved into early-access shipments

ChargePoint says early-access units of Express Solo began shipping during the quarter. The charger is the first product based on the new Express DC architecture developed with Eaton.

Express Solo is specified by ChargePoint for up to 600 kW to a single port. During the Q2 earnings call, chief executive Rick Wilmer said the company had demonstrated a 600-plus-kilowatt charge on a passenger vehicle using a production system based on the Express architecture, taking the vehicle from 10% to 80% state of charge in 11 minutes.

Those figures remain ChargePoint performance claims. The achievable charging rate and session time for any production vehicle will depend on the vehicle battery, voltage architecture, thermal conditions and charging curve as well as the charger.

New hardware is part of the margin story

ChargePoint says the cost structure of new hardware platforms including Express Solo will be an important part of its longer-term margin improvement plan.