ChargePoint Holdings Inc (NYSE:CHPT) is trading higher Thursday after the company reported better-than-expected financial results and issued guidance above estimates.
ChargePoint said fourth-quarter revenue increased 90% year-over-year to $80.67 million, which beat the $76.62 million estimate. The company reported an adjusted quarterly earnings loss of 17 cents per share, which was worse than the estimate for a loss of 15 cents per share.
"ChargePoint delivered another outstanding quarter, exceeding the high end of both our quarterly and annual revenue guidance and advancing our technology leadership in our commercial, fleet and residential verticals across North America and Europe," said Pasquale Romano, president and CEO of ChargePoint.
ChargePoint expects first-quarter revenue to be between $72 million and $77 million versus the $81.7 million estimate. The company expects full-year revenue to be between $450 million and $500 million versus the $378.7 million estimate.
ChargePoint is an EV charging network provider committed to enabling the electrification of mobility for all.
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CHPT Price Action: ChargePoint has traded as low as $11.21 and as high as $36.86 over a 52-week period.
The stock was up 7.39% at $15.11 at time of publication.
Photo: courtesy of ChargePoint.
