ChargePoint CEO calls 70% surge start of momentum

By Stephanie Foster 12/09/2026 4 min read 6 views

ChargePoint shares jumped over 70% in a single session after the electric vehicle charging provider posted results exceeding expectations and projected further expansion. The largest gain since its 2023 reverse stock split followed CEO Rick Wilmer‘s assertion that growth is beginning to accelerate, driven by new products and technological advancements. The company’s second-quarter revenue reached $116.1 million, surpassing Wall Street’s consensus estimate of $105.2 million. It also reported a narrower loss of 35 cents per share, better than the anticipated 85 cents.

While a one-time $4.2 million tariff refund contributed to the improvement, Wilmer emphasized that even without it, the quarter would have marked a new record for normalized gross margin. “We’ve now had our fourth consecutive quarter of year-over-year growth, and this quarter we just reported yesterday was obviously another good growth quarter,” Wilmer said. “And now [we’re] expecting that to accelerate, especially as we move into next year.”

ChargePoint operates differently from competitors like Tesla’s Supercharger network. Rather than owning or managing charging stations, it supplies hardware, software, and support services to businesses deploying charging infrastructure.

The company has been expanding its Level 3 chargers in Europe while rolling out next-generation Level 2 and Level 3 units across the U.S. AI applications are being deployed to reduce software development time and optimize charging performance, according to Wilmer.

Despite a broader slowdown in all-electric vehicle sales during the past year, following the elimination of federal support for the industry in the U.S., including the end of an up to $7,500 consumer benefit for purchasing an EV, Wilmer rejected claims of an industry downturn. “I think, altogether, the down cycle, or the doom and gloom, has been a bit overstated,” he said. “I think there’s a lot more positivity at the ground level.” Demand in the used vehicle market is strong amid high gas prices, and automakers continue selling electric models, though at significantly lower volumes than previously expected.

Under Wilmer’s leadership, ChargePoint has cut net losses from $125.3 million three years ago to $35.6 million in the latest quarter. While exact profitability timelines remain undisclosed, Wilmer indicated the company is approaching positive EBITDA and expects to achieve it soon.

For the current quarter, ChargePoint forecasted revenue between $105 million and $115 million, representing roughly a 4% year-over-year mid-point increase. The outlook suggests steady but limited growth, though Wilmer’s emphasis on accelerating progress hints at stronger gains ahead—particularly as adoption of its faster chargers and AI tools expands. The stock’s surge reflects investor confidence in this transition, even as the broader electric vehicle market faces uncertainty. ChargePoint’s strategy centers on two immediate priorities: hardware enhancements and software efficiency. The company has avoided the capital-intensive approach of owning chargers, instead focusing on recurring revenue from installations, maintenance, and data services.

This model may limit short-term expansion compared to vertically integrated competitors, but it also reduces financial risk. If demand for public charging stabilizes—or if new incentives emerge, ChargePoint’s scalable approach could strengthen its position in a fragmented marketplace. The company’s focus is on deploying faster chargers, leveraging AI for efficiency, and broadening its customer network. The rollout of Level 3 chargers in Europe and the U.S. is essential, as these high-speed units can command premium pricing and attract commercial clients like delivery services or hotels.

However, adoption depends on pricing, reliability, and performance relative to competitors. The AI initiatives aim to streamline software updates and improve network management, potentially lowering operational costs over time. The most significant uncertainty remains market demand. While the used vehicle market is strong, new-car demand has slowed following the expiration of federal incentives. ChargePoint’s revenue growth depends on businesses installing chargers rather than direct consumer sales. If corporate spending on electric vehicle infrastructure declines, due to economic concerns or shifting priorities, the company’s prospects could weaken.

Wilmer’s assertion that “I just think in the end, better products can win” assumes customers will choose ChargePoint’s offerings over cheaper or more integrated alternatives. A key variable is regulatory support. If governments reintroduce incentives, such as tax credits or subsidies, demand for charging infrastructure could rebound. Without such measures, ChargePoint’s growth will depend entirely on proving its technology offers clear advantages. The stock’s rally suggests investors believe it can deliver, but confirmation will come in the coming quarters. For now, the company is counting on consistent execution to overcome broader market challenges.