ChargePoint Stock Surges on Q2 Earnings Beat and Record Gross Margin

ChargePoint Holdings (CHPT) shares surged more than 18% in pre-market trading after the electric vehicle charging company reported fiscal second-quarter results that significantly surpassed Wall Street expectations, fueled by record profitability metrics and a smaller-than-expected loss.

Decisive Earnings Beat

For the quarter ending July 31, 2026, ChargePoint posted revenue of $116 million, an 18% increase year-over-year. This figure comfortably beat the analyst consensus estimate of approximately $105 million. The company also reported an adjusted loss per share of -$1.35, which was $0.25 narrower than the forecasted loss of -$1.60.

Perhaps the most significant metric in the report was the company's non-GAAP gross margin, which reached a record 38%. This represents a 600 basis point improvement from the prior quarter and a 500 basis point increase from the same period a year earlier. Even after excluding a one-time $4.2 million tariff refund, the company stated its normalized margin was approximately 35%, still a company record.

Path to Profitability

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ChargePoint's forward-looking statements and improving operational figures reinforced investor confidence. Management guided for third-quarter revenue in a range of $105 million to $115 million. The company also reported a narrowed adjusted EBITDA loss of $5 million, underscoring its progress toward achieving profitability.

This margin expansion and narrowing loss are particularly noteworthy in the EV charging sector, where competitors have faced persistent headwinds related to high cash burn and capital-intensive infrastructure buildouts. ChargePoint's results suggest a tangible improvement in its underlying business operations.

Market Reaction

The strong financial report triggered a purely stock-specific rally, as the broader S&P 500 was trading flat. The pre-market surge brought ChargePoint's stock price to $6.14. While this represents a significant single-day gain for a stock that had been trading near multi-year lows, it remains well below its 52-week high of $12.61, indicating that investors are cautiously repricing the company's improved fundamentals.