EV charging solutions provider ChargePoint Holdings (NYSE: CHPT) beat Wall Street’s revenue expectations in Q4 CY2025, with sales up 7.3% year on year to $109.3 million. On the other hand, next quarter’s revenue guidance of $95 million was less impressive, coming in 8.5% below analysts’ estimates. Its GAAP loss of $1.85 per share was 6.8% above analysts’ consensus estimates.
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ChargePoint (CHPT) Q4 CY2025 Highlights:
- Revenue: $109.3 million vs analyst estimates of $104.7 million (7.3% year-on-year growth, 4.4% beat)
- EPS (GAAP): -$1.85 vs analyst estimates of -$1.98 (6.8% beat)
- Adjusted EBITDA: -$18.39 million (-16.8% margin, 6.2% year-on-year decline)
- Revenue Guidance for Q1 CY2026 is $95 million at the midpoint, below analyst estimates of $103.8 million
- Adjusted EBITDA Margin: -16.8%, in line with the same quarter last year
- Free Cash Flow was -$1.97 million compared to -$4.62 million in the same quarter last year
- Market Capitalization: $153 million
Company Overview
The most prominent EV charging company during the COVID bull market, ChargePoint (NYSE: CHPT) is a provider of electric vehicle charging technology solutions in North America and Europe.
Revenue Growth
Examining a company’s long-term performance can provide clues about its quality. Any business can experience short-term success, but top-performing ones enjoy sustained growth for years. Over the last five years, ChargePoint grew its sales at an incredible 22.9% compounded annual growth rate. Its growth beat the average industrials company and shows its offerings resonate with customers.
Long-term growth is the most important, but within industrials, a half-decade historical view may miss new industry trends or demand cycles. ChargePoint’s recent performance marks a sharp pivot from its five-year trend as its revenue has shown annualized declines of 9.9% over the last two years. 
We can better understand the company’s revenue dynamics by analyzing its most important segments, Networked Charging Systems and Subscriptions, which are 52.7% and 38.8% of revenue. Over the last two years, ChargePoint’s Networked Charging Systems revenue (hardware) averaged 10.8% year-on-year declines. On the other hand, its Subscriptions revenue (software) averaged 12.9% growth. 
This quarter, ChargePoint reported year-on-year revenue growth of 7.3%, and its $109.3 million of revenue exceeded Wall Street’s estimates by 4.4%. Company management is currently guiding for a 2.7% year-on-year decline in sales next quarter.
Looking further ahead, sell-side analysts expect revenue to grow 5.9% over the next 12 months. While this projection implies its newer products and services will fuel better top-line performance, it is still below the sector average.
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Operating Margin
Operating margin is one of the best measures of profitability because it tells us how much money a company takes home after procuring and manufacturing its products, marketing and selling those products, and most importantly, keeping them relevant through research and development.
ChargePoint’s high expenses have contributed to an average operating margin of negative 74.4% over the last five years. Unprofitable industrials companies require extra attention because they could get caught swimming naked when the tide goes out. It’s hard to trust that the business can endure a full cycle.
On the plus side, ChargePoint’s operating margin rose by 58.8 percentage points over the last five years, as its sales growth gave it operating leverage. Still, it will take much more for the company to reach long-term profitability.
ChargePoint’s operating margin was negative 48.5% this quarter.
Earnings Per Share
We track the long-term change in earnings per share (EPS) for the same reason as long-term revenue growth. Compared to revenue, however, EPS highlights whether a company’s growth is profitable.
Although ChargePoint’s full-year earnings are still negative, it reduced its losses and improved its EPS by 51.8% annually over the last five years. The next few quarters will be critical for assessing its long-term profitability. We hope to see an inflection point soon.
Like with revenue, we analyze EPS over a shorter period to see if we are missing a change in the business.
For ChargePoint, its two-year annual EPS growth of 38.4% was lower than its five-year trend. We still think its growth was good and hope it can accelerate in the future.
In Q4, ChargePoint reported EPS of negative $1.85, up from negative $2.89 in the same quarter last year. This print beat analysts’ estimates by 6.8%. Over the next 12 months, Wall Street expects ChargePoint to improve its earnings losses. Analysts forecast its full-year EPS of negative $9.30 will advance to negative $6.65.
Key Takeaways from ChargePoint’s Q4 Results
We were impressed by how significantly ChargePoint blew past analysts’ revenue expectations this quarter. We were also glad its EPS outperformed Wall Street’s estimates. On the other hand, its revenue guidance for next quarter missed and its EBITDA fell short of Wall Street’s estimates. Overall, this was a weaker quarter. The stock traded down 5.1% to $6.20 immediately after reporting.
ChargePoint may have had a tough quarter, but does that actually create an opportunity to invest right now? The latest quarter does matter, but not nearly as much as longer-term fundamentals and valuation, when deciding if the stock is a buy. We cover that in our actionable full research report which you can read here (it’s free).
