ChargePoint CEO says 70% stock surge 'is the beginning of the momentum' — SkimNews
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- ChargePoint shares surged more than 70% Thursday after the company beat Wall Street's Q2 FY2027 expectations and guided toward further improvement
- Revenue hit $116.1 million versus $105.2M expected, with a loss per share of 35 cents compared with an expected 85-cent loss
- The stock jump is the largest since ChargePoint's reverse stock split last year aimed at keeping shares above the NYSE's $1 minimum trading price
- Rick Wilmer told CNBC the rally is 'the beginning of the momentum,' driven by new Level 3 chargers rolling out in Europe and next-generation Level 2 and Level 3 chargers for the U.S.
- Unlike some competitors, ChargePoint doesn't own or operate its chargers — it sells hardware, software, and services to businesses that want to offer charging
- Wilmer said the company is deploying AI to cut charging times, accelerate software development, and improve efficiency across the business
- Net losses have shrunk from $125.3 million three years ago to $35.6 million, and ChargePoint is approaching EBITDA profitability under Wilmer's three-year plan
Why it matters: ChargePoint's 70% surge is its biggest move since last year's reverse stock split to avoid NYSE delisting — a turnaround signal for a company that has cut net losses from $125.3M to $35.6M over three years. With $4.2M in tariff refunds helping but normalized gross margins still hitting records, Wilmer is now anchoring the bull case on AI-driven efficiency and new Level 3 hardware reaching EBITDA profitability.
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