ChargePoint Holdings, Inc. ( CHPT ) reported its first-quarter financial results after the bell Wednesday. Here's a look at the key figures from the report.

The Details:

ChargePoint ( CHPT ) reported quarterly losses of 17 cents per share which beat the analyst consensus estimate of losses of 18 cents by 5.56%.

The company reported quarterly sales of $107 million which beat the analyst consensus estimate of $105.791 million by 1.14% and represents a 17.71% decrease from the same period last year.

Networked charging systems revenue for the first quarter was $65.4 million, down 34% from $98.3 million in the prior year’s same quarter. Subscription revenue was $33.4 million, up 27% from $26.4 million in the prior year’s same quarter.

“ChargePoint delivered as anticipated in the first quarter. We achieved revenue above the midpoint of our guidance range, sequential gross margin improvements, meaningful reduction in operating expenses, and an improvement in non-GAAP adjusted EBITDA loss,” said Rick Wilmer, CEO of ChargePoint ( CHPT ).

“We remain focused on operational excellence, which will enable us to continue to deliver great driver experiences and be the platform of choice for everyone who wants to offer EV charging.”

Outlook: 

ChargePoint ( CHPT ) sees second-quarter revenue in a range of $108 million and $118 million, versus the $121.35 million consensus estimate. The company reaffirmed its goal to achieve positive non-GAAP Adjusted EBITDA for the fourth quarter of fiscal year 2025 ending January 31, 2025.

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CHPT Price Action: According to Benzinga Pro, ChargePoint ( CHPT ) shares are up 0.58% after-hours at $1.73 at the time of publication Wednesday.

Image: Gerd Altmann from Pixabay