Can ChargePoint close out FY21 with strong revenue?

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ChargePoint Inc (NYSE:CHPT) is expected to report fourth quarter results on Wednesday, March 2, after market close.

EPS consensus estimate is -$0.16 (vs. -$5.29 in Q421) and the consensus revenue estimate is $76.13M (+79.6% YoY). Over the past 3 months, EPS estimates have seen 1 upward revision and 8 down. Revenue estimates saw 13 upward revisions and 1 downward revision.

ChargePoint’s revenue rose 79% in the third quarter, beating analysts’ estimates. Network charging revenue for the quarter increased 111% to $47.5 million and subscription revenue increased 24% to $13.4 million.

At the time, the company was on track for fourth-quarter revenue of $73 million to $78 million and annual revenue of $235 million to $240 million. The mixed third-quarter earnings report sparked a -3.67% dipping a day later, but Oppenheimer reiterated a positive outlook, suggesting “strong growth across all market segments, but is particularly encouraged by fleet billings growth of 69% sequentially.”

ChargePoint CEO Pasquale Romano also noted that losses have continued as the company remains “in investment mode” and will achieve profitability “on time” as it continues to drive revenue growth and improve margins. .

More recently, JP Morgan issued a stock rating upgrade to “overweight”, noting that “ChargePoint is a clear leader in the Tier 2 North American commercial market with increasing emerging growth opportunities in DCFC in Americas. North and in L2/DCFC in Europe”.

JP Morgan expects “significant growth over the next 5-10 years, with revenues above the EV growth range in the U.S. and Europe, driven by new opportunities in business operations and The company’s software and services business provides ChargePoint with an attractive recurring revenue model.”

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