ChargePoint Holdings, Inc. (CHPT) investors had something to celebrate Thursday evening as the EV charging company's stock climbed following a mixed but ultimately encouraging third quarter earnings report. Revenue came in ahead of expectations, even if the bottom line didn't cooperate.

The Numbers

ChargePoint reported adjusted losses of $2.23 per share for the quarter, which missed analyst estimates calling for losses of $1.31 per share. Not great, but the revenue story was better. Quarterly revenue hit $105.67 million, comfortably beating the consensus estimate of $96.71 million.

Under the Hood

Beyond the headline figures, there were some notable bright spots in ChargePoint's third quarter performance. Subscription revenue grew 15% year-over-year to reach $42 million, a sign that the company's recurring revenue model is gaining traction. The company also maintained its non-GAAP gross margin at a record high of 33%, showing operational efficiency even as it navigates a challenging growth environment.

Perhaps most significantly, ChargePoint announced it reduced debt by $172 million after the quarter ended, slashing total debt by more than 50%. That's a meaningful improvement to the balance sheet that should give the company more financial flexibility going forward.

"ChargePoint's third quarter results mark a return to growth, with revenue exceeding expectations," said Rick Wilmer, CEO at ChargePoint.

"In November, we further strengthened our financial foundation by consummating a successful debt exchange and our ongoing innovation and strategic partnerships, especially with Eaton, position us to accelerate growth and lead the future of e-mobility," Wilmer added.

Looking Ahead

For the fourth fiscal quarter ending January 31, 2026, ChargePoint expects revenue between $100 million and $110 million.

ChargePoint stock rose 6.55% to $9.12 in Thursday's extended trading session.