What Happened?
Shares of EV charging solutions provider ChargePoint Holdings (NYSE:CHPT) jumped 76.3% in the afternoon session after the company reported second-quarter 2026 revenue and earnings that topped Wall Street's expectations alongside significant margin improvement.
According to the company's press release, ChargePoint generated revenue of $116.1 million, up 17.7% year on year, beating Wall Street's $105.2 million consensus. Adjusted EPS of -$0.35 beat analyst estimates of -$0.85, while its adjusted EBITDA loss narrowed to $4.75 million from negative $22.1 million last year. On the earnings call, CEO Rick Wilmer and CFO Mansi Khetani tied the performance to record 38% gross margins (35% normalized excluding tariff refunds) and zero cash burn, aided by inventory falling to $179 million. Wilmer noted, “We achieved this performance despite the uncertainty, particularly in North America,” where elevated home-charging sales drove the beat but are not expected to recur next quarter.
Management highlighted early-access shipments of the Eaton co-developed Express Solo DC charging platform, which demonstrated a 10% to 80% charge in 11 minutes at 600-plus kilowatts. For the third quarter, management guided for revenue of $110 million at the midpoint, a 4.1% year-on-year increase. Speaking to CNBC during an interview, “The growth is starting to accelerate,” Wilmer added, noting “It’ll be driven substantially by the new products and technology we’re putting into the market.”.
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What Is The Market Telling Us
ChargePoint’s shares are extremely volatile and have had 51 moves greater than 5% over the last year. But moves this big are rare even for ChargePoint and indicate this news significantly impacted the market’s perception of the business.
The previous big move we wrote about was 10 days ago when the stock dropped 4.9% on the news that trade negotiations between the United States and Canada broke down, sparking concerns over new 50% tariffs and retaliatory trade measures.
Bilateral trade negotiations between Washington and Ottawa collapsed unexpectedly, triggering the implementation of 50% tariffs on approximately $20 billion worth of Canadian imports, including electrical equipment and building materials. In addition, the White House signaled plans to impose 50% tariffs on Canadian vehicles, auto parts, and steel by 2027. Canadian Prime Minister Mark Carney vowed to retaliate dollar for dollar to defend domestic industries. The sudden escalation in trade tensions has raised significant headwinds for the industrial and manufacturing sectors, which depend on deeply integrated cross-border supply chains. Analysts warn that widespread import duties and reciprocal trade barriers threaten to increase production input costs, disrupt operational logistics, and dampen demand for heavy machinery and industrial components. Consequently, investors pulled back from trade-sensitive equities as broad market leadership cooled.
ChargePoint is up 30.6% since the beginning of the year, but at $9.20 per share, it is still trading 25.5% below its 52-week high of $12.34 from October 2025. Despite the year-to-date gain, investors who bought $1,000 worth of ChargePoint’s shares 5 years ago would now be looking at only $20.89.
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