ChargePoint Holdings, Inc. Q1 2024 10-Q Filing

TL;DR

ChargePoint's Q1 2025 10-Q is in. Check financials for EV charging performance.

AI Summary

ChargePoint Holdings, Inc. filed its 10-Q for the period ending April 30, 2024. The company reported revenue from its Product segment and License and Service segment. Specific financial figures for these segments and the overall company performance for the quarter are detailed within the filing.

Why It Matters

This filing provides investors with an update on ChargePoint's financial performance and operational status for the first quarter of fiscal year 2025, crucial for understanding the company's trajectory in the electric vehicle charging market.

Risk Assessment

Risk Level: medium — The company operates in a rapidly evolving and competitive market, facing potential risks related to technological advancements, regulatory changes, and economic conditions.

Key Numbers

• 2024-02-01 to 2024-04-30 — Reporting Period (First fiscal quarter of 2025)
• 2023-02-01 to 2023-04-30 — Prior Year Period (Comparison for Q1 fiscal 2024)

Key Players & Entities

• ChargePoint Holdings, Inc. (company) — Filer of the 10-Q
• 20240430 (date) — End of the reporting period
• 20240606 (date) — Filing date
• Switchback Energy Acquisition Corp (company) — Former company name

FAQ

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 CHPT New York Stock Exchange Indicate

Filing Documents

• chpt-20240430.htm (10-Q) — 1285KB
• chpt10q2025q1ex311.htm (EX-31.1) — 11KB
• chpt10q2025q1ex312.htm (EX-31.2) — 11KB
• chpt10q2024q1ex321.htm (EX-32.1) — 5KB
• chpt10q2025q1ex322.htm (EX-32.2) — 5KB
• 0001777393-24-000080.txt ( ) — 6428KB
• chpt-20240430.xsd (EX-101.SCH) — 45KB
• chpt-20240430_cal.xml (EX-101.CAL) — 69KB
• chpt-20240430_def.xml (EX-101.DEF) — 202KB
• chpt-20240430_lab.xml (EX-101.LAB) — 584KB
• chpt-20240430_pre.xml (EX-101.PRE) — 423KB
• chpt-20240430_htm.xml (XML) — 757KB

- Financial Information

Part I - Financial Information Item 1. Condensed Consolidated Financial Statements (Unaudited) 5 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 29 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 41 Item 4.

Controls and Procedures

Controls and Procedures 41

- Other Information

Part II - Other Information Item 1.

Legal Proceedings

Legal Proceedings 42 Item 1A.

Risk Factors

Risk Factors 42 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 80 Item 3. Defaults Upon Senior Securities 80 Item 4. Mine Safety Disclosures 80 Item 5. Other Information 80 Item 6. Exhibits 81

Signatures

Signatures 82 2 Table of Contents SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This quarterly report on Form 10-Q (this "Quarterly Report") includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These forward-looking statements could include, among other things, statements regarding the future financial performance of ChargePoint Holdings, Inc. ("ChargePoint" or the "Company," or "we," "us," "our" and similar terms), as well as ChargePoint's strategy, future operations, research and development initiatives, future operating results, financial position, and resources, expectations regarding revenue, losses, costs, margins and prospects, as well as management plans and objectives. All statements, other than statements of present or historical fact included in this Quarterly Report, are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may," "should," "could," "would," "expect," "plan," "anticipate," "intend," "believe," "estimate," "continue," "project" or negatives of such terms and other similar expressions that predict or indicate future events or trends or that are not statements of present or historical matters. These statements are based on various assumptions, whether or not identified herein, and on the current expectations of ChargePoint's management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of, fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ from assumptions, and such differences may be material. Many actual events and circumstances a

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

ITEM 1. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA ChargePoint Holdings, Inc. Unaudited Condensed Consolidated Financial Statements Condensed Consolidated Balance Sheets as of April 30, 2024 and January 31, 2024 (unaudited) 6 Condensed Consolidated Statements of Operations for the Three Months Ended April 30, 2024 and 2023 (unaudited) 7 Condensed Consolidated Statements of Comprehensive Loss for the Three Months Ended April 30, 2024 and 2023 (unaudited) 8 Condensed Consolidated Statements of Stockholders' Equity for the Three Months Ended April 30, 2024 and 2023 (unaudited) 9 Condensed Consolidated Statements of Cash Flows for the Three Months Ended April 30, 2024 and 2023 (unaudited) 10 Notes to Condensed Consolidated Financial Statements (unaudited) 12 5 ChargePoint Holdings, Inc. Condensed Consolidated Balance Sheets (in thousands, except share and per share data, unaudited) April 30, 2024 January 31, 2024 Assets Current assets: Cash and cash equivalents $ 261,859 $ 327,410 Restricted cash 30,400 30,400 Accounts receivable, net of allowance of $ 14,036 as of April 30, 2024 and $ 14,000 as of January 31, 2024 117,798 124,049 Inventories 223,557 198,580 Prepaid expenses and other current assets 64,673 62,244 Total current assets 698,287 742,683 Property and equipment, net 41,014 42,446 Intangible assets, net 76,964 80,555 Operating lease right-of-use assets 14,597 15,362 Goodwill 212,385 213,750 Other assets 7,985 8,567 Total assets $ 1,051,232 $ 1,103,363 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 84,062 $ 71,081 Accrued and other current liabilities 141,108 159,104 Deferred revenue 102,615 99,968 Total current liabilities 327,785 330,153 Deferred revenue, noncurrent 132,080 131,471 Debt, noncurrent 284,689 283,704 Operating lease liabilities 16,312 17,350 Deferred tax liabilities 10,872 11,252 Other long-term liabilities 1,570 1,757 Total liabilities 773,308 775,687 Commi

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