U.S.-based electric vehicle charging solutions company ChargePoint has reported a revenue of $97.6 million in the first quarter (Q1) of the fiscal year (FY) 2026, a 9% year-over-year (YoY) decline from $107 million. The revenue missed analyst expectations by $2.9 million.

Revenue from networked charging systems stood at $52.1 million, a 20% decrease from $65.4 million in Q1 2025. Subscription revenue grew 14% YoY to $38 million, up from $33.4 million.

The company’s earnings per share (EPS) came in at -$0.12, beating analyst projections by $0.01.

ChargePoint’s adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) resulted in a loss of $22.7 million, a 37% rise compared to a $36.4 million loss in the same quarter last year.

The net loss for the quarter was $57.1 million, a 20% drop from the $71.7 million net loss recorded in the previous quarter.

ChargePoint’s CEO Rick Wilmer highlighted continued improvements in key metrics, including subscription and gross margins. He identified new partnerships and product developments as key drivers of future growth. Among them is a recent collaboration with Eaton that provides integrated EV charging and power management solutions. This partnership is expected to expand ChargePoint’s distribution network across North America and Europe.

The company also introduced a new AC charging architecture, which includes several innovations aimed at commercial, residential, and fleet markets.

Wilmer said that while new U.S. tariffs will slightly raise the cost of goods sold, cost-saving measures are expected to more than offset the impact. As a result, ChargePoint still anticipates improved margins later this year.

Positive trends in EV adoption and infrastructure usage continue to support the business. In the U.S., EV sales rose 16% YoY in the first quarter. In Europe, EV sales surged 22% during the same period. The European Green Deal remains a strong policy driver, requiring all new cars sold by 2035 to produce zero emissions.

Despite broader economic uncertainty affecting immediate purchasing decisions, demand for charging infrastructure is growing. Industry shakeouts and the exit of some competitors, including Chinese firms facing increased federal scrutiny, may create opportunities for ChargePoint to expand its market share.

Wilmer stated that hardware gross margins improved compared to the previous quarter despite added costs from tariffs and shipping. The company expects continued gains later in the year from the rollout of new AC hardware, increased activity in European markets, and the partnership with Eaton.

For the second quarter, ChargePoint expects revenue of $90 million to $100 million.

ChargePoint reported revenue of $101.9 million in the fourth quarter of FY25, a 12% YoY decline compared to $115.8 million. However, the revenue exceeded analyst expectations by $756,610.