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ChargePoint Holdings Inc. (CHPT-8.48%) has filed its Form 10-K filing for the fiscal year ended January 31, 2025.
The company reported total revenue of $417.1 million, a decrease from $506.6 million in the previous year. This decline was primarily due to a decrease in Networked Charging Systems revenue, which fell to $234.8 million from $360.8 million.
Subscriptions revenue increased to $144.3 million, up from $120.4 million, driven by growth in ChargePoint Platform subscriptions and Assure subscriptions.
Cost of revenue decreased to $316.4 million from $476.5 million, primarily due to a reduction in the volume of Networked Charging Systems delivered and the absence of a $70.0 million inventory impairment charge recorded in the previous year.
The company reported a net loss of $277.1 million, compared to a net loss of $457.6 million in the prior year. The improvement was attributed to reductions in operating expenses and the absence of significant inventory impairment charges.
ChargePoint's cash and cash equivalents stood at $224.6 million as of January 31, 2025, down from $327.4 million at the end of the previous fiscal year. The decrease was mainly due to cash used in operating activities.
The company highlighted ongoing efforts to optimize operations and reduce costs, including workforce reductions implemented in September 2023, January 2024, and September 2024.
ChargePoint continues to focus on expanding its market presence and enhancing its product offerings to support the growing demand for electric vehicle charging infrastructure.
The filing also details the company's compliance with various regulatory requirements, including environmental and data privacy laws, and outlines risks related to market competition and macroeconomic factors.
ChargePoint has outlined its strategy to maintain leadership in the EV charging market through research and development, customer base expansion, and acceleration of platform solutions.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the ChargePoint Holdings Inc. annual 10-K report dated March 28, 2025. To report an error, please email earnings@qz.com.