ChargePoint Holdings, Inc ( CHPT ). shares are trading lower after the company reported fourth-quarter financial results and issued guidance below estimates. Here's a look at the details.

ChargePoint ( CHPT ) reported quarterly losses of 23 cents per share, in line with analyst estimates.

Quarterly sales came in at $115.833 million, which missed the analyst consensus estimate of $118.777 million and is a 24.21 percent decrease over sales of $152.827 million from last year.

ChargePoint ( CHPT ) reported networked charging systems revenue of $74 million, down 39% year-over-year, and subscription revenue of $33.5 million, a 30% increase year-over-year.

"In the fourth quarter, ChargePoint ( CHPT ) continued to focus on operational execution, delivering sequential revenue growth, normalization in gross margin, reduction of operating expenses, and a significant decrease in cash usage. Quarterly milestones included the opening of the Mercedes-Benz HPC NA charging network and receiving FedRAMP authority to operate, which enables ChargePoint ( CHPT ) to bid for United States government contracts," said Rick Wilmer, CEO of ChargePoint ( CHPT ).

"Looking ahead, we are focused on operational excellence, delivering world-class driver experiences, prioritization of our software platform, and hardware innovation. This will drive growth for the ChargePoint ( CHPT ) business, and enable the EV charging needs of our customers," Wilmer added.

Outlook: ChargePoint ( CHPT ) sees first-quarter revenue between $100 million and $110 million, lower than the $126.09 million estimate. At the midpoint, it represents an anticipated decline of 19% year-over-year.

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CHPT Price Action: According to Benzinga Pro, ChargePoint ( CHPT ) shares are trading down 8% after-hours at $1.84 at the time of publication.

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