ChargePoint Holdings, Inc.

Good afternoon and thank you for standing by. Welcome to ChargePoint's fourth quarter and full fiscal year 2026 financial results conference call. Please be advised today's conference is being recorded and a replay will be available on ChargePoint's investor relations website. I would now like to turn the conference over to John Paolo Cantan, Vice President Communications. Please go ahead.

Good afternoon. and thank you for joining us on today's conference call to discuss ChargePoint's fourth quarter and full fiscal 2026 earnings results. This call is being webcast and can be accessed on the Investors section of our website at investors.chargepoint.com. With me on today's call are Rick Loemer, our Chief Executive Officer, and Mansi Katani, our Chief Financial Officer. This afternoon, we issued our press release announcing results for the quarter ended January 31st, 2026, which can be found on our website. We'd like to remind you that during the conference call, management will be making forward-looking statements, including our outlook for first quarter of fiscal 2027. 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 December 5, 2025, 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 through GAAP in our earnings release and for certain historical periods in the investor presentation posted on the investor section of our website. And finally, we'll be posting a transcript of this call to our investor relations website under the quarterly results section. Thank you. I will now turn the call over to our CEO, Rick Wilmer.

Good afternoon, and thank you for joining us. Today, we will provide a comprehensive review of our quarterly performance, share our perspective on current market conditions, discuss the progress we have made toward our three-year strategic plan, and how innovation and execution supported by our partnership with Eaton and key leadership additions position us to build confidently for the future. We delivered a strong finish to fiscal 2026. Revenue for Q4 came in at the high end of our guidance range at 109M, marking another quarter of year-over-year growth and execution above expectations. Our non-GAAP gross margin remained at a record high of 33%. We maintained strict cash discipline. Cash utilization from operations was minimal and much better than planned. These results are a clear validation of our relentless commitment to operational excellence and there's still opportunity for further improvement. This performance reinforces our return to growth trend, which we expect to accelerate later this year and into next year as our new products ramp into volume. This growth results from investments in product innovation, partnerships, rising market interest, greater utilization, and market consolidation, which have boosted our market share of public ports in North America. Europe experienced robust double-digit growth driven by regulations and new incentives. We expect this trend in Europe to continue further accelerated by our new products. Operational excellence remains a core pillar of our three-year plan, and progress here is tangible. We continue to see benefits from tighter cost controls and improved supply chain execution. Station reliability, the quality of deployments, and customer satisfaction all continue to improve. Stations that are down as monitored by our Network Operations Center or NOC have been reduced by over half in the last year and are now below 1%. Over 80% of owner support cases are proactively created by our NOC or driver reports as opposed to a customer having to call us to report a problem. Other initiatives like picture to resolution, cut resistant cables, and our safeguard care service are all contributing to high reliability. First time right deployments have approved to above 95%, which has been driven by our training and certification program. Customer satisfaction, as measured by results from our CSAT survey responses for driver, owner, and home support, is now at 8.5 or higher on a 10 scale. All of these improvements are driving customer loyalty, which in turn drives expansion business. Our continued deployment of AI is yielding tangible benefits, which we expect to increase substantially as we move through this year as the tools and capabilities continue to advance rapidly. With our headquarters in Silicon Valley, we are at the epicenter of AI innovation, and we view this as a competitive advantage. We are striving to be at the forefront of AI adoption, And the benefits we are anticipating are not just incremental improvements, but truly disruptive. We expect to deliver AI-driven innovation in our products and services to make them more differentiated, valuable, and useful. AI for code generation and testing will allow us to deliver innovation faster and more cost-effectively. We believe AI will also drive overall operational efficiency where every job in the company that is done on the screen will be performed more effectively. All of this is evidence that our model works. It gives us speed, flexibility, resilience, and the ability to invest where we see the greatest long-term returns. Turning to the broader EV market, while headlines often focus on short-term volatility, the underlying fundamentals remain compelling. Multiple independent sources point to sustained global EV adoption with particularly strong growth in Europe and continued long-term confidence from automakers and consumers alike. Global EV sales grew meaningfully year-over-year in 2025, with Europe posting strong double-digit growth supported by regulatory tailwinds and renewed consumer incentives. Even in North America, where growth moderated, interest in EVs remains resilient and satisfaction among EV owners continues to be exceptionally high. OEMs still view EVs as the long-term destination, but the path is proving longer and less linear, with hybrids and plug-in hybrids serving as bridges. The next leg of adoption depends less on mandates and more on economics and customer experience. A wave of sub-$35,000 EVs arriving in 2026 is designed to hit the true mass market where price parity matters most. Despite the headlines about an EV slowdown, U.S. fast charging tells a different story. Infrastructure expanded rapidly in 2025, usage grew in lockstep, utilization remained stable, and reliability improved. Approximately 18,000 new public DC fast charging ports were added, largely driven by private investment rather than government stimulus. This indicates the charging ecosystem is maturing operationally, not overbuilding speculatively. As vehicle affordability improves and adoption re-accelerates, the charging foundation is being put in place to support it. This market environment favors companies that can execute, scale efficiently, and deliver a seamless experience across hardware, software, and services. This is where ChargePoint is uniquely positioned as evidenced by some notable customer wins. We have partnered with Ford Pro so that Ford's commercial fleet customers in the UK and Germany now have integrated access to ChargePoint solutions across home, fleet, and workplace EV charging, providing these businesses with the most innovative and reliable charging solutions. Not only can Ford Pro customers benefit from our hardware and software, they also have access to ChargePoint's expertise for charger installation, site planning, and related services. We also consummated the next phase of our strategic partnership with Raw Charging, one of the UK's leading ChargePoint operators. The new multi-year agreement comes with an initial commitment valued at $7.5 million USD. This collaboration strengthens raw charging's Connecting Amazing Places campaign, which is focused on normalizing EV charging at destinations rather than solely en route. Also, we extended our work with Georgia Power to new locations, including the prominent Grady Health System in Atlanta. Innovation remains the engine of our strategy. In the coming months, we will release a major update to our mobile app. This new experience is designed to do more than just help drivers find a charge. It's equipped them with the ability to choose an experience while they charge by guiding drivers towards available, reliable, amenity rich and well-priced charging locations. We believe this capability will drive increased utilization, improve economics for station owners and strengthen the value of our network. We believe we are in a position to influence where drivers choose to charge. which is a powerful example of how software and data can benefit both drivers and site hosts. With the largest community of drivers in North America on our platform, we have the skill to drive incremental value for ChargePoint. When we look ahead, our confidence is rooted in four elements coming together, execution, market opportunity, innovation delivery, and partnerships. Our partnership with Eaton continues to expand our reach and accelerate adoption of next-generation AC and DC solutions. Combined with our improving execution in a market that increasingly demands reliable, scalable charging, we believe we are building a durable platform for long-term growth. In this context, I also want to highlight the importance of Jasser Farooq joining our leadership team as our Chief Product and Software Officer. Joshua brings a wealth of experience in electrified transportation, energy, and the scaling of global operations. Joshua's leadership enhances ChargePoint's ability to develop an innovative product roadmap that encompasses both software and hardware, but is also agile in response to the rapidly evolving environment, especially as artificial intelligence creates opportunities in our industry. His approach is anchored in what we believe is the inevitable transition to electrified transportation ensuring ChargePoint remains at the forefront of innovation while maintaining operational excellence. This quarter we are introducing new key performance indicators. We are sharing these metrics to strengthen the alignment between our strategy and the market's understanding of our performance. Let me briefly explain why each matters. Software-only managed ports are non-ChargePoint hardware ports managed by our software and reflect our software-first strategy. Managing non-chargepoint hardware expands our addressable market and supports a business model centered on recurring software revenue and sticky long-term customer relationships. Globally, we have nearly 130,000 software-only managed ports, representing approximately 30% of all ports under management. Share of ports exceeding 30% utilization at least one day in a month. we believe is an important leading indicator for expansion demand. Utilization above roughly 30% is typically when site hosts begin evaluating the addition of chargers to maintain a good driver experience. More than 100,000 AC ports recorded time utilization above 30% at least one day in January of 2026, indicating over seven hours of continuous use per day across workplace, retail, and other locations. Monthly active users defined as drivers utilizing a ChargePoint account is the equivalent of our user community. Monthly active users is a core measure of the network effect. Growing driver engagement increases utilization and delivers greater value to site hosts and customers, reinforcing why our software and network are central to their long-term charging strategy. At the end of FY26, we had 1.48 million active users, representing 8% year-over-year growth. In terms of KPIs we have historically reported, ChargePoint now manages approximately 385,000 ports, including more than 41,000 DC fast chargers and more than 130,000 ports located in Europe. Globally, ChargePoint drivers have access to over 1.37 million public and private charging ports. Together, these KPIs are intended to provide more insight into how our business is performing, our differentiation, and how long-term durable value is being created across our ecosystem. To close, fiscal year 2026 marked an inflection point for ChargePoint. We returned to quarterly growth. managed our cash with discipline, strengthened our operational foundation, and continued to deliver innovation that matters. Disciplined execution and a constructive market outlook, accelerating innovation and strong partnerships, we believe ChargePoint is well positioned to build for future opportunities. Thank you to our employees, partners, and shareholders for your continued support. I will now turn the call over to our CFO, Mansi Kitani.