ChargePoint Holdings, Inc. · NYSE:CHPT
ChargePoint — Investor Presentation (June 2024)
26 slides from ChargePoint's investor presentation, June 2024
Slide 1: Driving the Electrification of Mobility
Driving the Electrification of Mobility June 2024 1
Slide 2: Safe Harbor
This presentation may contain “forward-looking” statements within the gross margins; our ability to expand our operations and market share in Safe Harbor meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act that are based on our management’s beliefs and Europe; the need t
Slide 3: ChargePoint at a Glance
ChargePoint at a Glance Rick Wilmer NYSE CHPT President and Chief Executive Officer Founded 2007, with 1,650 employees worldwide 1 + 30+ years of technology leadership and executive management, including Based in Silicon Valley, with operations in Europe and India four prior roles as CEO Ports 306,0
Slide 4: Vision: Move All People and Goods on Electric Power
VISION Move All People and Goods on Today, all major global OEMs Electric Power have committed to electrification—BMW, Daimler, Ford, GM, Hyundai, Lexus, INVESTMENT OPPORTUNITY Nissan, Rivian, Stellantis, Tesla, The Index for the Electrification Toyota, and many more. of Mobility © 2024 ChargePoint
Slide 5: Investment Highlights
Investment Growing Addressable Market Highlights Strong electrification trend Industry Leadership Leading EV charging network, market leader in North America in commercial Level 2 AC chargers Winning Business Model Flexible approach to fit customer needs: software platform, or vertically integrated,
Slide 6: Electric Fueling
Electric Fueling Recurring Revenue = Installed Base x Annual Subscriptions Personal Vehicles Work Vehicles Commercial and Residential Businesses Fleet Business Photo: Frito-Lay At home, work, around town, on the road At the depot, on route and at home + Charging every electric passenger vehicle on t
Slide 7: Winning North America, Expanding in Europe
Winning North America, Expanding in Europe 306,000+ activated ports | ~27,000 activated DC ports | 707,000+ ports through roaming reach A leader in North America all-purpose charging Operating in 16 European markets + Operating across verticals + Support in 9 languages + Integrated into where people
Slide 8: We Sell Hardware, Subscription Software and Services
We Sell Hardware, Subscription Software and Services Traditional CapEx Purchase or OpEx Purchase Commercial Products 1 3 5 Networked Charging Software as a Service (SaaS) Assure™ Annual Subscription ChargePoint as a Service™ (Bundles SaaS, Stations Annual Subscriptions (Parts & Labor Warranty) Charg
Slide 9: Integrated to the EV Ecosystem
Integrated to the EV Ecosystem Automotive Platforms Consumer Platforms Auto Leasing, Fleet and Fuel Card Partnerships + Photo: Mercedes-Benz + Android Auto + Mercedes–Benz + Stellantis Roaming Integrations with Other Charging Networks + Apple CarPlay + Pininfarina + Toyota + Audi + Polestar + Volksw
Slide 10: Network Effects Reinforce ChargePoint Value
Network Effects Reinforce ChargePoint Value Driver (End Users) + Rely on our top-rated, free app to find and access charging + See ChargePoint where they live, work and play Account (Site Hosts and Depots) Distribution (Partners) + As EV penetration rises, existing accounts need more ports Establish
Slide 11: Organizations of all types benefit from… …and Drivers rely on us
Organizations of all types benefit from… …and Drivers rely on us All charging activity and cost (for both at-home and Charging that works for their business public charging) in one place. Free 24/7 driver support A single free app that drivers use to find and access charging Access and pricing contr
Slide 12: Fortune companies choose ChargePoint
Fortune companies choose ChargePoint Commercial Workplace & Commercial Properties Education Fueling & Convenience 74 Healthcare % Hospitality & Retail Parking Fleet Delivery & Logistics Sales Service & Motorpool Shared Mobility of Fortune 50 companies Residential Multi Family are ChargePoint custome
Slide 13: Proven account expansion
Proven account expansion Fortune 50 Company, Example 1 Top 25 Customers* Annual Spend 8X 16X Cumulative Spend Cumulative Spend Fortune 50 Company, Example 2 Annual Spend 28X Cumulative Spend Major US City Annual Spend Customer expansion reflects ongoing software and 142X warranty subscriptions as we
Slide 14: Illustrative Unit Economics
Illustrative Unit Economics 21% CP6000 dual-port station with Recurring Software and Assure 25% 54% Upfront Express Plus configuration 31% with Software and Assure Recurring 13% 56% Upfront Source: Management Data. Actual station lifetime can vary. ©2024 ChargePoint Holdings, Inc. 14
Slide 15: Revenue Diversity
Revenue Diversity By Type By Geography 600 600 $507 $507 500 $468 500 $468 400 400 $M $M 300 300 $241 $241 200 200 $130 $130 $107 $107 100 100 - - FY202 2 FY202 3 FY202 4 FY202 4 Q1 FY202 5 Q1 FY202 2 FY202 3 FY202 4 FY202 4 Q1 FY202 5 Q1 Annual Quarterly Annual Quarterly Networked Charging Stations
Slide 16: ChargePoint for Good
ChargePoint for Good 10 billion+ electric miles driven since 2007 + 410 million gallons of gasoline consumption avoided + 2.2 million metric tons of greenhouse gas emissions avoided Source: Management data through April 30, 2024. © 2024 ChargePoint Holdings, Inc. 16
Slide 17: Asset-light model with continued growth ahead
Asset-light model with Software only or complete solution, continued growth ahead with deep ecosystem integrations Photo: Polestar Established distribution Mature operations across and operations partners continents and verticals
Slide 18: Appendix
Appendix © 2024 ChargePoint Holdings, Inc. 18
Slide 19: Revenue Diversity
Revenue Diversity By Type By Geography $M $M $160 $150 $160 $150 $130 $130 $116 $116 $120 $110 $107 $120 $110 $107 $80 $80 $40 $40 -- -- Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Networked Charging Systems North America Subscriptions Europe Other Note: Unaudited
Slide 20: Non-GAAP Gross Margin
Non-GAAP Gross Margin 30% 25% 24% 22% 20% 10% 3% 0% Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 -10% -18% -20% -30% Note: Unaudited. Fiscal year ending on January 31. 20 © 2024 ChargePoint Holdings, Inc.
Slide 21: Non-GAAP Operating Expenses
Non-GAAP Operating Expenses $100 80% 74% $80 $85 $89 70% 65% $81 $75 62% $60 66% $66 60% $M 59% $40 50% $20 40% -- 30% Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Non-GAAP Operating Expenses - Non-GAAP Operating Expenses as % of Revenue Note: Unaudited. Fiscal year ending on January 31. 21 © 2024 Charge
Slide 22: GAAP Income Statement
GAAP Income Statement ($ in thousands; unaudited; preliminary) Three Months Ended April 30, 2024 2023 Revenue Networked charging systems $ 65,374 $ 98,320 Subscriptions 33,444 26,365 Other 8,224 5,345 Total revenue 107,042 130,030 Cost of revenue Networked charging systems 61,066 80,922 Subscription
Slide 23: GAAP Balance Sheet
GAAP Balance Sheet ($ in thousands; unaudited; preliminary) April 30, January 31, 2024 2024 Assets Current assets: Cash and cash equivalents $ 261,859 $ 327,410 Restricted cash 30,400 30,400 Accounts receivable, net 117,798 124,049 Inventories 223,557 198,580 Prepaid expenses and other current asset
Slide 24: GAAP Statement of Cash Flows
GAAP Statement of Cash Flows ($ in thousands; unaudited; preliminary) Three Months Ended April 30, 2024 2023 Cash flows from operating activities Net loss $ (71,799) $ (79,388) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 7,445 7,053 Non-c
Slide 25: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation ($ in thousands; unaudited; preliminary) Three Three Months Ended Months Ended April 30, 2024 April 30, 2023 Reconciliation of GAAP Net Loss to Non-GAAP Net Loss and Non-GAAP Adjusted EBITDA GAAP net loss $ (71,799) $ (79,388) Stock-based compensation expense 21,599 2
Slide 26: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation ($ in thousands; unaudited; preliminary) Three Months Ended Three Months Ended Three Months Ended Three Months Ended Three Months Ended April 30, 2024 January 31, 2024 October 31, 2023 July 31, 2023 April 30, 2023 Reconciliation of GAAP gross profit (margin) to non-GA
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