Honestly, if you’ve been watching the EV sector lately, it feels like a bit of a soap opera. One day everyone is obsessed with Tesla’s latest delivery numbers, and the next, there’s a panic about whether the world actually wants electric cars. Right in the middle of this mess sits charge point holdings stock, a name that was once the darling of the SPAC era but has since spent a lot of time testing the patience of even the most optimistic bulls.
The stock is currently hovering around $6.90 to $7.15 as we start 2026. That is a far cry from the double-digit glory days. It’s been a brutal ride for many. But here’s the thing: while the share price looks like a flatline on a heart monitor, the actual business is doing something kinda weird—it’s actually starting to look like a real company.
I know, that sounds crazy for a stock that’s down over 80% since early 2024. But if you dig into the numbers from their recent fiscal Q3 2026 report (which dropped in December 2025), you’ll see revenue hit $105.7 million. That beat expectations. More importantly, it was the first time they’ve seen quarterly revenue growth in over a year.
The Brutal Reality of ChargePoint Holdings Stock Right Now
Let’s not sugarcoat this. The market cap has shriveled to about $163 million. You’ve got analysts at places like Morningstar and MarketBeat tagging it with "Reduce" or "Hold" ratings. Why the cold shoulder? Basically, the hardware margins are still tough. Making the actual chargers—the physical boxes you see in parking lots—is a low-margin, high-competition game.
Back in late 2024, they had to swallow a massive $42 million inventory impairment charge. It was a "clean the house" moment. Since then, CEO Rick Wilmer—who was recently named to the TIME100 Climate list—has been obsessed with "operational excellence." That’s CEO-speak for "we need to stop burning so much cash."
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They’ve actually made progress. GAAP gross margins moved from a scary negative 22% back in late 2023 to around 31-33% in late 2025. They’re finally acting like they want to make money instead of just "disrupting" the world.
What Most People Get Wrong About the Revenue Mix
Everyone looks at the chargers. You see a ChargePoint station at the grocery store and think, "That’s the business." Sorta. But the real meat—the stuff that might actually save charge point holdings stock—is the subscription revenue.
- Software is Sticky: Once a fleet manager or an apartment complex installs these units, they pay for the cloud software to manage it.
- The Growth is Real: Subscription revenue just hit $42 million, making up roughly 40% of their total revenue.
- Margins: Software margins are way higher than hardware margins.
The software side grew 19% year-over-year in the latest cycle. That’s the "hidden" engine. If you're just looking at how many "plugs" they sell, you're missing the recurring check they get every month from those plugs being online.
The Debt Situation: A Surprising Twist
Usually, when a stock drops 80%, it’s because a massive debt bomb is about to go off. ChargePoint played it differently. In November 2025, they announced a material debt reduction, cutting their total outstanding debt by over 50%. That’s a $172 million weight off their shoulders.
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They still aren't profitable on a GAAP basis—EPS missed estimates recently, coming in at -$2.23—but they have zero debt maturities until 2028. That gives them a "bridge" to figure things out. They have about $194 million in cash left. It’s not an infinite pile, but it’s enough to keep the lights on while they wait for the "second wave" of EV adoption.
Can the European Market Save the Day?
Europe is basically the promised land for charging companies right now. The regulatory pressure there is much higher than in the U.S., and adoption is faster. During the FQ3 2026 earnings call, management was pretty vocal about Europe being their growth engine for the back half of this year.
They’ve launched new products like the CPF50 for fleets and a new "Essential" cloud plan for small businesses. They aren't just trying to be the "Tesla for everyone" anymore; they're trying to be the back-end infrastructure for every delivery van and apartment building in Berlin and London.
Why Investors are Still Scared
It isn't all sunshine. There are real risks that could still send charge point holdings stock to zero.
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- Vandalism and Theft: Cable theft has become a bizarrely big problem. People are literally cutting the copper out of the chargers. ChargePoint had to release "anti-vandalism" solutions recently just to keep their stations functional.
- Hardware Stagnation: If hardware gross margins stay stuck at 8%, the company has to sell a lot of software to break even.
- Politics: Changes in federal EV tax credits (like the ones that expired recently and caused a temporary "surge" in residential sales) can make their revenue numbers very lumpy.
Honestly, most of the Wall Street analysts are in a "prove it" phase. The average price target is around $12.15, which sounds like a massive upside from $7, but most of those analysts have been lowering their targets for two years straight. You've got to take those numbers with a grain of salt.
What to Watch in 2026
If you're holding or watching this stock, March 3, 2026, is the next big date. That’s when the Q4 results are expected. We need to see if that revenue growth trend continues or if the Q3 "beat" was just a fluke caused by people rushing to buy home chargers before tax credits disappeared.
We are also seeing a shift toward AI-driven energy management. The company is reengineering its platform to help fleet managers optimize when they charge to save on electricity costs. If they can prove that their AI actually saves a fleet manager 20% on their power bill, they aren't just a hardware company anymore—they're an efficiency company.
Actionable Insights for Investors
If you’re looking at charge point holdings stock as a potential play, don't just "buy the dip" because it looks cheap. Cheap can always get cheaper. Instead, keep an eye on these specific markers:
- Watch the Subscription-to-Hardware Ratio: If subscription revenue starts making up 50% or more of the total pie, the path to profitability becomes much clearer.
- Monitor Cash Burn: They need to hit that goal of positive non-GAAP Adjusted EBITDA sometime this year. If they miss that target again, the market will likely punish them.
- Check European Progress: Keep an eye on news regarding their partnerships in Europe, specifically the Eaton partnership. If they can’t gain ground there, the U.S. market alone might not be enough to sustain them.
- Look for Insider Activity: There has been some insider selling lately (about $70k worth in late 2025). You want to see that stop and ideally see some "skin in the game" from the leadership team buying shares at these levels.
This isn't a "set it and forget it" stock. It’s a high-stakes bet on the "plumbing" of the electric world. If you believe the world goes electric, someone has to own the software that runs the plugs. ChargePoint is the biggest player in that niche, but they're currently fighting for their life to prove the business model actually works.