Why is ChargePoint stock surging today?

ChargePoint stock surged 18.3% in pre-open trading after the EV charging network operator posted fiscal second-quarter 2027 results that handily topped Wall Street estimates on both the top and bottom lines. Revenue for the quarter ended July 31, 2026 came in at $116 million, an 18% increase year-over-year and well above the analyst consensus of approximately $105 million, while the adjusted loss per share of -$1.35 was $0.25 better than the -$1.60 forecast.

Perhaps the most striking element of the report was the company’s non-GAAP gross margin, which reached a record 38% — up 600 basis points from the prior quarter and 500 basis points from the same period a year earlier. Even stripping out a one-time $4.2 million tariff refund, the normalized margin of approximately 35% still represented a company record, suggesting the margin improvement reflects genuine operational progress rather than a one-off benefit. Management also guided Q3 revenue in the range of $105–$115 million and reported a narrowed adjusted EBITDA loss of $5 million, reinforcing the narrative of a business steadily closing in on profitability.

On the broader market front, the macro backdrop provided little independent lift, with the S&P 500 essentially flat and the Nasdaq marginally in the red, confirming that today’s pre-market rally is a purely stock-specific event. ChargePoint’s closest EV charging peers — including Blink Charging and EVgo — have been navigating similar headwinds around cash burn and infrastructure spending, making ChargePoint’s margin breakthrough particularly notable within the sector.

Taken together, a decisive earnings beat, record profitability metrics, and constructive forward guidance combined to reignite investor interest in a stock that had been trading near multi-year lows. The pre-market move to $6.14 still leaves CHPT well below its 52-week high of $12.61, suggesting the market is cautiously repricing the company’s improving fundamentals rather than declaring a full recovery.