ChargePoint stock falls 13% on wider quarterly loss, missed revenue

Shares of ChargePoint Holdings Inc.
CHPT,
+1.62%
dropped more than 13% in the extended session Thursday after the EV charging company reported a wider-than-expected quarterly loss and sales also disappointed. ChargePoint lost $78 million, or 23 cents a share, in the fiscal 2023 fourth quarter, compared with a loss of $60.1 million, also 23 cents a share, in the year-ago quarter. Revenue rose 93% to $152.8 million, the company said. FactSet consensus called for a loss of 19 cents a share on sales of $165 million. The company guided for first fiscal-quarter revenue between $122 million and 132 million, which at the midpoint would represent a 56% rise from the year-ago quarter. ChargePoint missed its own quarterly guidance range as “supply challenges” persisted, Chief Executive Pasquale Romano said in a statement. ChargePoint ended the regular trading day up 1.6%.