Non-GAAP pre-tax net loss in the third quarter, which excludes $25.7 million in stock-based compensation expense, $2.8 million amortization expense from acquired intangible assets and other items, was $56.4 million as compared to $47.3 million in the prior year's same quarter. Third quarter GAAP net loss was $84.5 million, as compared to $69.4 million in the prior year's same quarter. Third quarter non-GAAP gross margin, which primarily excludes stock-based compensation expense and amortization from acquired intangible assets, improved sequentially to 20%, but was down from 27% in the prior year's same quarter due to the same factors. Third quarter GAAP gross margin was 18%, down from 25% in the prior year's same quarter primarily due to supply chain disruptions, which affected both cost and supply availability, and increased new product introduction and transition costs. Networked charging systems revenue for the third quarter was $97.6 million, up 105% from $47.5 million in the prior year’s same quarter and subscription revenue was $21.7 million, up 62% from $13.4 million in the prior year’s same quarter. Third quarter revenue was $125.3 million, up 93% from $65.0 million in the prior year’s same quarter. Third Quarter Fiscal 2023 Financial Overview “Our networked, asset-light business model continues to enable our growth as we strive to deliver improved margins and operating leverage.” “ChargePoint delivered another quarter of growth exceeding 90% year-over-year, as we continue to scale the business to meet strong demand for our solutions across North America and Europe,” said Pasquale Romano, President and CEO of ChargePoint. (NYSE:CHPT) (“ChargePoint”), a leading electric vehicle (EV) charging network, today reported results for its third quarter of fiscal 2023 ended October 31, 2022.
Charge point earnings full#
ChargePoint guides to fourth quarter fiscal 2023 revenue of $160-$170 million full-year revenue guidance range revised upward $5 million from previous midpoint to $475 million to $485 million.GAAP and Non-GAAP gross margin both improved 1 percentage point quarter-over-quarter.Third quarter fiscal 2023 revenue of $125 million representing 93% year-over-year growth
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