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ChargePoint, the world's largest provider of electric-vehicle charging stations...
ChargePoint sells hardware, software and services related to EV charging to commercial, fleet and residential customers. It operates more than 115,000 charging ports globally. It's aiming to increase that to 2.5 million by 2025. The Campbell-Calif.-based company started in 2007 and operates in North America and Europe.
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ChargePoint Sees Growth Ahead
CEO Pasquale Romano said in a conference call announcing the ChargePoint IPO that revenue grew 60% year over year in 2019 to $147 million. But it had a net loss of $133 million, due to expansion costs.
CFO Rex Jackson said, "2020 revenue is expected to dip due to the slowdown in EV sales caused by Covid-19." But, long term, Romano projects "similar growth ahead with a 60% CAGR from 2021 to 2026."
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Meanwhile, Scott McNeill, CEO of Switchback SPAC, said EV charging infrastructure investment will reach $190 billion by 2030. ChargePoint has the dominant position in the emerging EV charging market, he says.
https://www.investors.com/news/chargepoi...go-public/
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