ChargePoint Announces Reorganization to Position Itself for Long-Term, Sustainable Growth
2024年1月11日 - 6:07AM
ビジネスワイヤ(英語)
ChargePoint (NYSE: CHPT), a leading provider of networked
charging solutions for electric vehicles (EVs), today announced a
strategic reorganization designed to improve financial performance
and position itself for long-term, sustainable growth. The
reorganization includes an approximately 12% reduction of the
ChargePoint global workforce.
The reorganization is expected to lead to approximately $14
million in restructuring charges, consisting of approximately $10
million in severance and related expenses and approximately $4
million in facility-related expenses. ChargePoint expects the
action to result in annual operating expense savings of
approximately $33 million. As previously announced, additional
components of the strategic plan under new President and Chief
Executive Officer, Rick Wilmer, will be discussed in ChargePoint’s
fourth quarter of fiscal 2024 investor call expected to be held in
March of this year.
“As part of a comprehensive business evaluation in my new
position as CEO, today we have taken the difficult decision to
reorganize our global workforce,” said Rick Wilmer, President and
CEO of ChargePoint. “After a thorough review of our business
strategy and product roadmap, we are heightening our focus on
execution, operational excellence, and improved efficiencies while
we continue with our industry-leading innovation.”
As previously announced, ChargePoint maintains a strong
financial position with approximately $397 million in cash, cash
equivalents and restricted cash on the Company’s balance sheet at
the end of the third quarter of fiscal year 2024, with access to an
additional $150 million through a revolving credit facility, which
remains undrawn. The Company remains committed to its plan for
achieving positive non-GAAP adjusted EBITDA in the fourth quarter
of calendar year 2024.
About ChargePoint Holdings, Inc.
ChargePoint is creating a new fueling network to move people and
goods on electricity. Since 2007, ChargePoint has been committed to
making it easy for businesses and drivers to go electric with one
of the largest EV charging networks and a comprehensive portfolio
of charging solutions. The ChargePoint cloud subscription platform
and software-defined charging hardware are designed to include
options for every charging scenario from home and multifamily to
workplace, parking, hospitality, retail and transport fleets of all
types. Today, one ChargePoint account provides access to
hundreds-of-thousands of places to charge in North America and
Europe. For more information, visit the ChargePoint pressroom, the
ChargePoint Investor Relations site, or contact the ChargePoint
North American or European press offices or Investor Relations.
Forward-Looking Statements:
This press release contains forward-looking statements that
involve risks, uncertainties, and assumptions including statements
regarding our ability to improve execution and operations and
capitalize on efficiencies while continuing with our industry
leading innovation, our ability to generate positive non-GAAP
adjusted EBITDA in the fourth quarter of calendar year 2024, our
ability to achieve operating expense savings as a result of the
reorganization and the expected amount of such expense savings.
There are a significant number of factors that could cause actual
results to differ materially from the statements made in this press
release, including: macroeconomic trends including changes in or
sustained inflation, prolonged and sustained increases in interest
rates, or other events beyond our control on the overall economy
which may reduce demand for our products and services, geopolitical
events and conflicts, adverse impacts to our business and those of
our customers and suppliers, including due to supply chain
disruptions, component shortages, and associated logistics expense
increases; our limited operating history as a public company; risks
associated with our quarter-end closing procedures, including
management’s judgments; our ability as an organization to
successfully acquire and integrate other companies, products or
technologies in a successful manner; our dependence on widespread
acceptance and adoption of EVs and increased demand for
installation of charging stations; our current dependence on sales
of charging stations for most of our revenues; overall demand for
EV charging and the potential for reduced demand for EVs if
governmental rebates, tax credits and other financial incentives
are reduced, modified or eliminated or governmental mandates to
increase the use of EVs or decrease the use of vehicles powered by
fossil fuels, either directly or indirectly through mandated limits
on carbon emissions, are reduced, modified or eliminated; our
reliance on contract manufacturers, including those located outside
the United States, may result in supply chain interruptions, delays
and expense increases which may adversely affect our sales, revenue
and gross margins; our ability to expand our operations and market
share in Europe; the need to attract additional fleet operators as
customers; potential adverse effects on our revenue and gross
margins due to delays and costs associated with new product
introductions, inventory obsolescence, component shortages and
related expense increases; adverse impact to our revenues and gross
margins if customers increasingly claim clean energy credits and,
as a result, they are no longer available to be claimed by us; the
effects of competition; risks related to our dependence on our
intellectual property; and the risk that our technology could have
undetected defects or errors. Additional risks and uncertainties
that could affect our financial results are included under the
captions “Risk Factors” and “Management’s Discussion and Analysis
of Financial Condition and Results of Operations” in our Form 10-Q
filed with the Securities and Exchange Commission (the “SEC”) on
December 8, 2023, which is available on our website at
investors.chargepoint.com and on the SEC’s website at www.sec.gov.
Additional information will also be set forth in other filings that
we make with the SEC from time to time. All forward-looking
statements in this press release are based on information available
to us as of the date hereof, and we do not assume any obligation to
update the forward-looking statements provided to reflect events
that occur or circumstances that exist after the date on which they
were made, except as required by applicable law.
CHPT-IR
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version on businesswire.com: https://www.businesswire.com/news/home/20240110537239/en/
ChargePoint AJ Gosselin Director, Corporate
Communications AJ.Gosselin@chargepoint.com
media@chargepoint.com
Patrick Hamer Vice President, Capital Markets and Investor
Relations Patrick.Hamer@chargepoint.com
investors@chargepoint.com
ChargePoint (NYSE:CHPT)
過去 株価チャート
から 4 2024 まで 5 2024
ChargePoint (NYSE:CHPT)
過去 株価チャート
から 5 2023 まで 5 2024