ChargePoint CEO: 50% Stock Surge 'Is the Beginning of the Momentum'

The shares jumped during early trading after ChargePoint significantly beat Wall Street's second-quarter expectations for its 2027 fiscal year and guided toward continued improvements. It was the stock's most notable increase since the company underwent a reverse stock split last year to meet the New York Stock Exchange's minimum $1 trading price requirement.

"The growth is starting to accelerate," Wilmer told CNBC. "It'll be driven substantially by the new products and technology we're putting into the market."

ChargePoint, unlike some EV charging companies, does not own or operate its chargers. It provides hardware, software, and services to businesses that want to offer charging to their employees or customers.

After markets closed Wednesday, the company reported revenue of $116.1 million and a loss per share of 35 cents for the quarter, compared with analyst expectations of $105.2 million and a loss of 85 cents, according to LSEG estimates. The results included a one-time tariff refund of about $4.2 million, but the company said its normalized gross margin would have set a record even without that benefit.

Wilmer said the quarter marked the company's fourth consecutive period of year-over-year growth, and he expects acceleration into next year. As part of its growth plan, ChargePoint has been introducing faster Level 3 chargers in Europe and next-generation Level 2 and Level 3 chargers in the U.S. The company is also using artificial intelligence to improve charging times, speed up software development, and boost efficiency.

Wilmer's optimism comes despite a slowdown in all-electric vehicle sales over the past year, following the end of U.S. federal support for EV purchases, including the expiration of a up-to-$7,500 consumer tax credit. "I think, altogether, the down cycle, or the doom and gloom, has been a bit overstated," he said. "There's a lot more positivity at the ground level."

ChargePoint is nearing the end of a three-year business plan led by Wilmer focused on reducing cash burn and losses. Net losses have narrowed from $125.3 million three years ago to $35.6 million in the latest quarter. The company hasn't said when it expects to be profitable on a net basis, but Wilmer said it is approaching profitability on an EBITDA basis. "We're approaching that quickly, and we want to get there ASAP," he said.

ChargePoint's third-quarter guidance for fiscal 2027 called for revenue of $105 million to $115 million, which would be a mid-point increase of roughly 4% year over year.