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Non-GAAP pre-tax net loss in the first quarter, which excludes stock-based compensation expense and other items, was $71.7 million as compared to $39.4 million in the prior year's same quarter. First quarter GAAP net loss was $89.3 million, which included a $2.9 million amortization expense from acquired intangible assets and $15.5 million in stock-based compensation expense. First quarter non-GAAP gross margin, which primarily excludes stock-based compensation expense and amortization from acquired intangible assets, was 17% compared to 23% in the prior year's same quarter due to the same factors. First quarter GAAP gross margin was 15%, down from 23% in the prior year's same quarter as newer, currently lower margin, products performed strongly relative to more mature, higher margin offerings, and due to supply chain disruptions, which affected both cost and supply availability. Networked charging systems revenue for the first quarter was $59.6 million, an increase of 122% from $26.8 million in the prior year’s same quarter and subscription revenue was $17.6 million, up 63% from $10.8 million in the prior year’s same quarter.

For the first quarter, revenue was $81.6 million, an increase of 102% from $40.5 million in the prior year’s same quarter. “Our investments in a comprehensive portfolio for all verticals we serve continue to set us apart when customers seek a charging solution.”įirst Quarter Fiscal 2023 Financial Overview “Positive first quarter results, despite expected significant headwinds due to global supply constraints, are a testament to the strength of our business,” said Pasquale Romano, president and CEO of ChargePoint. (NYSE:CHPT) (“ChargePoint”), a leading electric vehicle (EV) charging network, today reported results for its first quarter of fiscal 2023 ended April 30, 2022.