A Stock Nobody Wanted Just Jumped 70% in a Week. The CEO Says This Is Only the Start.

ChargePoint has spent the last few years as a cautionary tale — the EV charging company that burned through cash while the industry it was supposed to power struggled to take off. Last week, in a single trading session, its stock jumped more than 70%.

Shares soared after ChargePoint beat Wall Street's second-quarter expectations for its 2027 fiscal year by a wide margin. Revenue came in at $116.1 million against a $105.2 million forecast, and the company posted a loss of 35 cents per share against an expected 85-cent loss — a far smaller gap than analysts had priced in.

This wasn't a one-quarter fluke dressed up as a trend. ChargePoint is nearing the end of a three-year plan under CEO Rick Wilmer built specifically to cut losses and stabilize the business: net losses have fallen from $125.3 million three years ago to $35.6 million in the most recent quarter — a reduction of more than 70%, on a business that's simultaneously grown revenue.

Wilmer is betting the next leg of growth comes from hardware, not just cost-cutting — specifically a new ultrafast charger co-developed with power management giant Eaton, billed as the world's fastest stand-alone EV charger. It delivers up to 600 kilowatts and can take a car from 10% to 80% charge in roughly 11 minutes, a speed that starts to close the gap between charging an EV and filling a gas tank.

One strong quarter doesn't erase years of losses, and ChargePoint still isn't profitable. The stock remains a fraction of where it traded at its post-SPAC peak, and EV charging infrastructure companies broadly have burned through investor patience before recovering only to stumble again. Whether this is the inflection point Wilmer describes, or a sharp bounce in an otherwise still-struggling business, is exactly the question the next few quarters are supposed to answer.