Chargepoint: Revenue Struggles Continue (NYSE:CHPT)

As the growth in electric vehicle sales has seemingly hit a rough patch this year, a part of the market that has really struggled has been the charging names. ChargePoint Holdings (NYSE:CHPT) has been one of the worst stocks in the market recently, losing more than 80% over the past 12 months. On Wednesday, the company reported its fiscal Q1 results, which continued to show the revenue growth story here just isn’t progressing as previously hoped.

My previous coverage of the company:

Back in March, I wrote about ChargePoint after the company reported results for its fiscal Q4 period. The firm had just reported a large revenue drop along with another large quarter of losses, and Q1 sales guidance missed already significantly reduced street estimates. Since then, revenue estimates for the January 2025 fiscal year have continued lower, as seen in the chart below.