ChargePoint Holdings, Inc. (CHPT) in Campbell, Calif., operates electric vehicle charging networks and charging solutions globally. The company went public through a reverse merger with SPAC company Switchback Energy Corporation on March 1, 2021. CHPT became the world’s first publicly traded global electric vehicle (EV) charging network through its listing on New York Stock Exchange. However, the company has an ISS Governance QualityScore of 9, indicating high governance risk.
CHPT reported its fiscal 2023 first-quarter results (ended April 30, 2022) on May 31. The company’s revenues increased 102% year-over-year to $81.60 million. This can be attributed to a 122% rise in networking charging systems revenue and a 63% rise in subscription revenue. Shares of CHPT have risen 10.9% since its quarterly earnings report release, to close yesterday’s trading session at $14.97.
