ChargePoint Holdings, Inc.

Ladies and gentlemen, good afternoon. My name is Hannah, and I will be your conference operator for today's call. At this time, I would like to welcome everyone to the ChargePoint third quarter fiscal 2022 earnings conference call and webcast. All participants' lines have been placed in a listen-only mode to prevent any background noise. After the speaker's remarks, there will be a question and answer session. I would like to turn the call over to Patrick Hammer, ChargePoint's Vice President of Capital Markets and Investor Relations. Patrick, please go ahead.

Good afternoon, and thank you for joining us on today's call to discuss ChargePoint's third quarter of fiscal 2022. This call is being broadcast over the web and can be accessed on the investor section of our website at investors.chargepoint.com. With me on today's call are Pascal Romano, our chief executive officer, and Rex Jackson, our chief financial officer. This afternoon, we issued our press release announcing results for the third quarter of fiscal 2022 ended October 31st, 2021, which can also be found on our website. We would like to remind you that during this conference call, management will be making forward-looking statements, including our fiscal fourth quarter and full year 2022 outlook and our expected investment and growth initiatives. These forward-looking statements involve risks and uncertainties, many of which are beyond our control and could cause actual results to differ materially from our expectations. These forward-looking statements apply as of today, and we undertake no obligation to update these statements after the call. For a more detailed description of certain factors that could cause actual results to differ, please refer to our Form 10-Q filed with the SEC on September 10, 2021, and our earnings release posted today on our website and filed with the SEC on Form 8-K. Also, please note that we use certain non-GAAP financial measures on this call, which we reconcile to GAAP financial measures for the current quarter in our earnings release and for historical periods in the investor presentation posted on the Investors section of our website. And finally, we'll be posting the transcript of our call to our investor relations website under the quarterly results section. And with that, I'll turn it over to Pasquale.

Thank you, Pat, and thank you all for joining us today. I'll provide a business update, including details of our strong Q3 execution against plan before turning it over to Rex for financials. As I stated previously, our success is tied to the arrival of electric vehicles, and this quarter we saw continued momentum in EV sales in both the passenger and fleet categories. According to Bloomberg NEF, as many as 2.9 million electric vehicles are expected to be sold across North America and Europe this year. an increase of approximately 67% from 2020. And accordingly, we are seeing strong demand from auto dealers for charging infrastructure, an indicator that they are prepping for high-volume EV sales. Our strong financial performance throughout this year is the result of investments in a product and go-to-market strategy we have made over many years to be able to capture associated demand across commercial, fleet, and residential verticals in both North America and Europe. Historically, our revenue has only been limited by a sufficient breadth and quantity of vehicle options available to consumers and fleets, and this further reinforces the charge point as the equivalent of an index for the electrification and mobility. Our Q3 revenue of $65 million was at the high end of the guidance range we provided on September 1. This positions us to raise our expectations for the fourth quarter and full year, despite what continues to be a dynamic supply chain environment. I'd like to call your attention to a number of indicators of the scale we are delivering. First, we added more commercial and fleet customers in Q3 than any other quarter in the company's history. It is clear that our customers are preparing for the future as evidenced by 89% year-on-year growth in our commercial business. We finished the quarter with approximately 163,000 network ports under management inclusive of both acquisitions. Within that, the European port count was approximately 45,000, and globally, the DC fast charge port count was approximately 11,000. We continue to work with the industry to enable drivers to roam across networks in North America and Europe. This quarter, we crossed through over 290,000 roaming ports accessible to drivers using their ChargePoint account in addition to the ports directly on our network. Fleet billings in the quarter increased over 69% sequentially and over 198% year-on-year. I'll remind you, we acquired Vericity, a leading e-bus and commercial vehicle management provider, and we also announced the expansion of our partnership with WEX, a leading fleet payment solutions company. The partnership will provide fleet customers ready access to the largest EV charging network for on-route charging needs and enable depot and at-home charging along with easy employee reimbursement. Demand for our residential solutions continues to be robust. Residential billings for the third quarter were up 62% year on year and 50% from the last quarter. In Europe, we saw revenues up over 190% year over year. As a reminder, we closed the acquisition of Have2Be, an e-mobility provider with a leading charging software platform in the European market at the end of Q3. Our established and growing channel, which provides unique leverage and efficiency, is growing proportionally with the balance of our business as well. And overall, the scale of our network is generating positive environmental impact with over 3.3 billion electric miles driven to date. By our estimates, drivers have avoided over 132 million gallons of gasoline and over 529,000 metric tons of greenhouse gas emissions. Our mission requires world-class talent, and I'm pleased that ChargePoint continues to be a destination for top professionals. We ended the quarter with more than 1,300 employees, including the ChargePointers that joined us through the two recent acquisitions. And on the policy front, the passing of the Infrastructure Investment and Jobs Act includes up to $7.5 billion to accelerate the build-out of charging along highways and in our communities. This is evidence that U.S. policy leaders are committed to an electric future. We are working with policymakers at the federal and state level to shape this. While other state and utility programs are in place now, this new stimulus will likely manifest significantly beginning in 2023. Lastly, I would like to welcome former U.S. Secretary of Transportation and Labor Elaine Chao to our Board of Directors. Her appointment brings depth from both public and private sectors and further strengthens the board composition, which already includes leaders from technology, automotive, and investor communities. Now I'll turn this over to Rex to discuss financials before we move to Q&A. Rex, over to you.