ChargePoint Holdings, Inc. (CHPT): Business Model Canvas [Dec-2025 Updated]

You're digging into ChargePoint Holdings, Inc.'s (CHPT) business model right now, trying to see past the recent stock volatility to the core engine, and honestly, it's a story of a pivot. After navigating some tough hardware cycles, the real value is clearly shifting to their software and services, evidenced by that impressive 63% non-GAAP margin they hit in Q3 FY2026, even while managing a massive network of over 342,000 managed ports. As a former BlackRock head, I can tell you this canvas lays out exactly how they connect with everyone from big fleets like Amazon to major OEMs, balancing capital-light growth against the costs of maintaining that scale. Dive into the nine blocks below to see the precise structure driving their next phase of growth, because the numbers tell a very different story than the headlines.

ChargePoint Holdings, Inc. (CHPT) - Canvas Business Model: Key Partnerships

General Motors (GM) for deploying up to 500 ultra-fast chargers by end of 2025.

ChargePoint Holdings, Inc. and General Motors announced a collaboration to install up to 500 ultra-fast charging ports across the U.S., expected to be open to the public before the end of 2025. Many of these stations will feature ultra-fast charging via ChargePoint's Express Plus platform, capable of speeds up to 500kW. The new locations will operate under the GM Energy brand.

Automotive OEMs (e.g., BMW, Ford) for integrated charging access and co-branded solutions.

ChargePoint Holdings, Inc. continues to integrate with major automotive players. As of the first quarter of fiscal year 2026 (ending April 30, 2025), the company highlighted the extension of agreements with Mercedes-Benz. An earlier agreement involved a partnership with BMW and VW to install 100 DC fast chargers along coastal corridors. Furthermore, ChargePoint Holdings, Inc. manages a network that supports various OEM strategies, with over 352,000 ports under management globally as of April 30, 2025.

Commercial fleet operators like Amazon and UPS for customized depot charging infrastructure.

The demand from commercial fleet operators is scaling rapidly. In North America during 2023, corporate fleets saw charging sessions increase by approximately 83% year-over-year, while the active port count grew by approximately 54%. This indicates utilization pressure is outpacing port deployment in the fleet segment.

Strategic technology partners like Eaton for integrated energy management solutions.

The partnership with Eaton, an intelligent power management company with revenues of nearly $25 billion in 2024, is designed to streamline project deployment and manage site power requirements. This collaboration aims to deliver end-to-end solutions, integrating ChargePoint's charging hardware and cloud software with Eaton's power distribution technologies. The focus includes co-developing technology for bidirectional power flow, such as Vehicle-to-Everything (V2X) capabilities.

Government agencies (e.g., City of New York, Sourcewell) for public sector contracts.

ChargePoint Holdings, Inc. maintains a strong presence in the public sector through cooperative purchasing agreements. The company secured its third consecutive Sourcewell contract to provide EV chargers, software, and services to public agencies in the U.S. and Canada. Sourcewell itself harnesses the collective purchasing power of more than 50,000 participating agencies. Through this relationship, which dates back to 2017, ChargePoint Holdings, Inc. has enabled hundreds of Sourcewell member agencies to transition their fleets to electric.

The scope of ChargePoint Holdings, Inc.'s network as of April 30, 2025, provides context for these partnerships:

Key technology integrations resulting from these alliances include:

• Deployment of chargers supporting both CCS and NACS connectors via the Omni Port system.
• Integration of EV charging with power distribution for turnkey electrification solutions.
• Advancement in bidirectional power flow capabilities, including V2X.
• Streamlined procurement for public sector entities through Sourcewell-vetted pricing.

The company's Q1 Fiscal 2026 revenue was $98 million, with subscription revenue at $38 million, representing 39% of total revenue. Non-GAAP gross margin reached a record 31%.

ChargePoint Holdings, Inc. (CHPT) - Canvas Business Model: Key Activities

You're looking at the core engine of ChargePoint Holdings, Inc. as of late 2025. These aren't just things they do; these are the specific actions that drive their revenue and market position, especially now that they've returned to year-over-year revenue growth.

Developing and maintaining the proprietary cloud-based network software platform

The software platform is central, making up a significant portion of the top line. In the third quarter of fiscal year 2026, which ended October 31, 2025, subscription revenue hit $42.0 million, representing 40% of total revenue for the period. That's a 15% year-over-year jump for the software side of the business. To be fair, the subscription margin is strong, hitting a record 63% in that same quarter. This activity is focused on delivering the new ChargePoint Platform, a next-generation flexible solution designed to give real-time insights and management capabilities.

Manufacturing and sourcing Level 2 AC and DC fast charging hardware

Hardware sales are still the largest revenue component, though the company is actively managing the mix toward software. Networked charging systems revenue for Q3 FY2026 was $56.4 million, which accounted for 53% of the total revenue. This segment saw a 7% increase sequentially. Management is definitely focused on the economics here, anticipating more meaningful margin improvement starting mid-next year as benefits from new manufacturing partnerships in Asia are realized. The hardware gross margin was flat sequentially in Q3 FY2026.

Here's the quick math on the revenue split from Q3 FY2026:

Expanding the global charging network, which includes over 342,000 managed ports

The scale of the network is a key resource. As of the Q3 FY2026 report, ChargePoint Holdings, Inc. manages approximately 375,000 ports globally. This is a tangible measure of their footprint. The network includes over 39,000 DC fast chargers. Also, you should note their international presence; 127,000 of those managed ports are located in Europe. Anyway, drivers using the ecosystem have access to approximately 1.35 million public and private charging ports worldwide.

Sales and business development targeting large commercial and fleet customers

Sales efforts are clearly directed at large-scale deployments. The company's strategy involves expanding partnerships with automotive and fleet customers, which management cited as a driver for the Q3 FY2026 performance. The new software platform specifically offers expanded management capabilities for fleets and commercial customers. Geographically, North America remains the core market, making up 85% of revenue in the third quarter, with Europe at 15%.

Key sales and guidance figures include:

• Q3 FY2026 Total Revenue: $105.7 million.
• Q4 FY2026 Revenue Guidance (Midpoint): $105 million.
• North America Revenue Share: 85%.

R&D for next-generation hardware and AI-optimized software features

Innovation is being channeled into specific product rollouts. A major activity is the launch of the next-generation software and hardware platform. Furthermore, ChargePoint operationalized a joint go-to-market strategy with Eaton, announcing a new modular Express DC fast charging architecture. This architecture is designed to deliver up to a 30% reduction in ongoing operational costs compared to other solutions. Full year GAAP operating expenses for fiscal year 2025 were $353.7 million, while Non-GAAP operating expenses were $243.4 million, down 26% compared to fiscal year 2024, showing discipline alongside development spending. Finance: draft 13-week cash view by Friday.

ChargePoint Holdings, Inc. (CHPT) - Canvas Business Model: Key Resources

You're looking at the core assets that let ChargePoint Holdings, Inc. operate and compete in the EV charging space as of late 2025. These aren't just things they own; they are the engines driving their network and revenue.

The most tangible asset supporting their operations is the sheer scale of their network. As of late 2025, ChargePoint Holdings, Inc. manages an extensive installed base of approximately 375,000 charging ports worldwide. This scale is critical for attracting drivers and securing fleet and site host contracts.

Underpinning this physical network is the proprietary software. ChargePoint Holdings, Inc. recently launched the new ChargePoint Platform, which is their next-generation flexible software solution. This platform is designed to help customers with real-time insights, station performance monitoring, and dynamic pricing adjustments.

Intellectual property is a key differentiator, particularly around interoperability. Their Omni Port technology is a significant piece of IP, allowing vehicles using either the Combined Charging System (CCS) or North American Charging System (NACS) ports to charge at any supported charger without needing an adapter.

The company's financial position, while tight, is a necessary resource for ongoing operations and strategic moves. As of October 31, 2025, ChargePoint Holdings, Inc. reported cash and cash equivalents of $180.9 million on the balance sheet. This liquidity was bolstered post-quarter end by a debt exchange in November 2025 that slashed total outstanding debt by $172 million, or more than 50%.

Strategic alliances are vital for accelerating deployment and technology integration. You see this clearly in their work with major players:

• Collaboration with General Motors (GM) to install hundreds of ultra-fast charging ports across the United States, aiming for public availability by the end of 2025.
• Ongoing innovation and partnerships, such as the one with Eaton, to ramp new, lower-cost, smaller-footprint fast chargers.

Here's a quick look at the scale of the network and recent financial health as of the reporting period:

The software segment, which drives recurring revenue, is also a core resource. For the third quarter ending October 31, 2025, subscription revenue hit $42 million, representing 40% of total revenue. The subscription margin itself reached a record high of 63% for that quarter.

Finance: draft 13-week cash view by Friday.

ChargePoint Holdings, Inc. (CHPT) - Canvas Business Model: Value Propositions

You're looking at the core reasons why site hosts and drivers choose ChargePoint Holdings, Inc. (CHPT) over the competition as of late 2025. It's not just about selling hardware; it's about the recurring value delivered through the platform.

One major draw is the scalable, capital-light model for site hosts. Honestly, this is key for adoption. ChargePoint Holdings, Inc. sells the station, but the site host owns the asset, which keeps ChargePoint Holdings, Inc. out of the direct operational and capital expenditure burden for most deployments. This model supports their massive network, which, as of the end of fiscal year 2025 (January 31, 2025), included over 342,000 managed charging ports, though ChargePoint Holdings, Inc. does not own the vast majority of these points.

For drivers, the value is in the seamless, interoperable charging experience across multiple networks. You aren't locked into one provider. ChargePoint Mobility Services lets businesses embed full find, use, and pay functionality directly into their own apps using ChargePoint Holdings, Inc. APIs. For example, Mercedes-Benz drivers can manage charging within the Mercedes-Benz app itself. The next-generation ChargePoint Platform is designed to optimize any charging infrastructure, from a single site to a global network, ensuring integration with evolving energy systems.

The financial engine here is the high-margin software. You see this reflected in the subscription services, which are a clear focus area. For the third quarter of fiscal year 2026, subscription revenue hit $42.0 million, a 15% year-over-year increase, making up 40% of total revenue. This segment drives profitability, with subscription margin achieving a record non-GAAP margin of 63% in Q3 FY2026, demonstrating strong economies of scale.

Here's a quick look at the Q3 FY2026 financial performance that underpins this value delivery:

Site hosts, especially fleet and commercial operators, get significant value from real-time data and energy management tools. The new ChargePoint Platform uses AI to analyze usage patterns and energy supply conditions to enable dynamic energy management, which is designed to reduce infrastructure costs. For instance, Verizon noted that the platform helps them achieve energy management goals more efficiently.

Finally, the value proposition is wrapped in a comprehensive suite of hardware and software solutions for every need. The platform was specifically developed for leading fleet operators, commercial customers, vehicle OEMs, CPOs, and energy providers. The company provides a full stack: AC and DC charging products, Cloud subscriptions, Assure warranty coverages, and professional services. This covers everything from the ChargePoint Home Flex for residential use to the Express DC fast chargers (like the Express 200 at 50 kW) for quick turnarounds.

You can see the breadth of their offering:

• Empowers operators to optimize infrastructure from a single site to a global network.
• Offers AI-Driven Optimization and real-time insights for proactive decision-making.
• Includes features like Waitlist to maximize charging station utilization.
• Provides solutions for transit depots and highway charging corridors.

Finance: draft 13-week cash view by Friday.

ChargePoint Holdings, Inc. (CHPT) - Canvas Business Model: Customer Relationships

You're looking at how ChargePoint Holdings, Inc. keeps its diverse customer base-from individual EV drivers to large fleet operators-engaged and satisfied. It's a multi-pronged approach that balances high-tech automation with dedicated human touchpoints, which is key when you're managing a massive network.

Automated, self-service via the mobile app for EV drivers.

For the everyday EV driver, the relationship is almost entirely digital and self-directed through the mobile application. This is where the bulk of the interaction happens, providing access to the network and managing charging sessions. The scale of this self-service is significant; back in 2023, drivers logged over 180 million hours charging across the network. Management is actively working to enhance this digital experience, with a major, AI-powered upgrade to the mobile app planned for release soon following the third quarter of fiscal year 2025. This focus on the driver experience is critical for network stickiness.

Dedicated account management and professional services for B2B/Fleet customers.

When you move into the B2B and fleet space, the relationship shifts from self-service to high-touch account management. ChargePoint Holdings, Inc. targets three key verticals: commercial businesses/CPOs, fleet operators, and residential customers. Management has been aggressively pursuing fleet opportunities, expecting to double fleet opportunities during fiscal year 2025. This dedicated support is evidenced by major collaborations, such as the one announced with General Motors to install hundreds of ultra-fast charging ports across North America in 2025, and securing Porsche as a recent fleet customer win. The company is clearly structuring its sales and marketing functions, appointing a new Chief Revenue Officer to drive this growth.

Long-term contracts for subscription services (ChargePoint as a Service or CPaaS).

The move toward recurring revenue is central to the customer relationship strategy, primarily through ChargePoint as a Service (CPaaS). This model allows customers to avoid large upfront capital expenditures (CapEx) by opting for predictable annual operating expenses (OpEx). The agreements themselves are structured for commitment, with CPaaS typically offering Subscription Terms of three and five years. This focus is paying off financially; subscription revenue represented 40% of total revenue in the third quarter of fiscal year 2025, hitting $42 million. Furthermore, the profitability of this segment is strong, with the subscription margin reaching a record high of 63% in that same quarter. While some older CPaaS offerings saw an End of Sale date in August 2024, the focus is now on successor products like annual CPaaS subscriptions for the CP6000 and CPF50 hardware.

Partner support for co-branded and integrated OEM charging programs.

ChargePoint Holdings, Inc. builds relationships by integrating its platform directly with automakers and other large partners. These co-branded programs offer drivers a seamless experience, often using the OEM's own branding or integrated software. The network's total reach is significantly expanded through these roaming partnerships, giving drivers access to approximately 1.35 million charging ports globally as of the third quarter of fiscal year 2025, even though ChargePoint Holdings, Inc. only directly manages about 375,000 ports.

Customer support and maintenance for hardware and software issues.

For the commercial and fleet customers who own the hardware, support is baked into the CPaaS offering to ensure high uptime. This service layer is a key differentiator from a simple hardware sale. The commitment includes round-the-clock monitoring and proactive service repairs. Specifically, the CPaaS agreement promises a 98% Annual Uptime Guarantee and a response time of within two business days for malfunctioning Charging Stations, though another source notes a One-Business-Day Response Time for proactive fixes. The total managed network across North America and Europe stood at over 342,000 ports at the end of fiscal year 2025, with over 39,000 of those being DC fast chargers, all requiring this level of support.

Here's a quick look at the network scale supporting these customer relationships as of late 2025:

The financial health of these relationships is clear in the revenue mix; the 20% year-over-year growth in full fiscal year 2025 subscription revenue shows customers are locking in for the long term.

ChargePoint Holdings, Inc. (CHPT) - Canvas Business Model: Channels

You're looking at how ChargePoint Holdings, Inc. gets its solutions-hardware and software-into the hands of customers, which is a mix of direct engagement and leveraging third parties. This is key because their revenue mix is shifting toward more predictable, higher-margin subscription services.

The Channels strategy for ChargePoint Holdings, Inc. relies on a multi-pronged approach to cover the diverse needs of commercial, fleet, and individual EV drivers.

Direct Sales Force and Government Contracts

ChargePoint Holdings, Inc. uses its direct sales force to target larger, more complex customers like commercial businesses, major fleets, and government entities. This direct engagement is crucial for securing large infrastructure deals. For instance, ChargePoint Holdings, Inc. was awarded a Sourcewell cooperative purchasing contract to provide EV charging solutions to public agencies across the U.S. and Canada, which streamlines the procurement channel for government entities. The U.S. market remains a significant focus, contributing $81.2 million in revenue for the three months ended October 31, 2025.

Channel Partners and Resale Networks

The company is substantially dependent on its channel partners for hardware installation and resale, which helps them scale deployment without owning all the infrastructure themselves. This strategy aligns with their focus on enabling others to build and expand networks using ChargePoint Holdings, Inc.'s technology. Networked charging systems revenue, which includes hardware sales often facilitated by partners, was $56 million in the third quarter of fiscal year 2026, making up 53% of total revenue for that period. For the full fiscal year 2025, this hardware component brought in $234.8 million. Hardware gross margin was reported as flat sequentially in Q3 FY2026.

Mobile Application and Website for Drivers

For the end-user EV driver, the mobile application and website serve as the primary interface for accessing the network, paying for charging, and managing their experience. One ChargePoint Holdings, Inc. account currently provides access to hundreds-of-thousands of places to charge across North America and Europe. The recurring revenue stream tied to this platform is growing significantly. Subscription revenue reached $42 million in Q3 FY2026, an increase of 15% year-over-year, and constituted 40% of total revenue. This segment achieved a record high non-GAAP subscription margin of 63% in Q3 FY2026. Management is preparing a major upgrade to the mobile app, which will be AI-powered for smarter, more personalized charging experiences. The app supports features such as:

• Schedule charging and set reminders.
• Track usage and get notifications.
• Reserve a charging spot via a virtual Waitlist feature.
• Locate stations easily with in-vehicle display integration like CarPlay.

OEM Integration and Automotive Partnerships

Integration with Original Equipment Manufacturers (OEMs) is a growing channel, embedding ChargePoint Holdings, Inc.'s technology directly into the vehicle or the OEM's charging rollout strategy. Management noted that expanded partnerships with automotive customers were a driver of Q3 performance. Specific OEM channel activities include:

• A collaboration with General Motors (GM) to install up to 500 new GM Energy-branded DC fast chargers, with a target completion date by the end of 2025.
• Many of these GM-branded locations will feature ChargePoint Holdings, Inc.'s Omni Port system for broad connector compatibility.
• The new ChargePoint Platform was specifically developed for vehicle OEMs.
• Mercedes-Benz is working with ChargePoint Holdings, Inc. and MN8 to deploy thousands of ultra-fast chargers in the US.
• CEO Rick Wilmer mentioned a new program with BMW North America for destination charging stations.

Utility and Energy Provider Programs

Working with utilities is a critical channel for grid integration and managing large-scale deployment, especially for fleet and residential segments. ChargePoint Holdings, Inc. supports over 200 utilities of all sizes across North America. The company's next-generation software platform is designed to help these partners minimize energy costs through features like:

The software helps utilities manage grid load in conjunction with residential charging solutions.

Here's a quick look at the financial contribution from the subscription side, which is heavily influenced by the installed base accessed through these channels:

ChargePoint Holdings, Inc. (CHPT) - Canvas Business Model: Customer Segments

You're looking at the customer base for ChargePoint Holdings, Inc. as of late 2025. The company serves a broad spectrum of EV charging needs, from individual drivers to large commercial operators and government bodies. Honestly, the numbers show a clear focus on the commercial and fleet side, which drives the bulk of their network and subscription revenue.

The overall scale of the network provides context for these segments. As of January 31, 2025, ChargePoint Holdings, Inc. closed the year with over 342,000 managed charging ports, representing a nearly 20% year-over-year increase. This infrastructure supports a network of over 1 million accessible charging locations worldwide. For a snapshot closer to the end of 2025, the third quarter of fiscal year 2026 (ended October 31, 2025) saw total revenue of $105.67 million.

We can infer customer focus by looking at the revenue split between hardware (Networked Charging Systems) and recurring software/service fees (Subscriptions). For the full fiscal year 2025, total revenue was $417.1 million.

The focus on recurring revenue is clear, with subscription revenue growing 20% year-over-year for the full fiscal year 2025, reaching $144.3 million. For the latest reported quarter (Q3 FY2026, ended October 2025), subscription revenue was $42.0 million, up 15% year-over-year, while Networked Charging Systems revenue was $56.39 million.

Here is how the specified customer segments align with ChargePoint Holdings, Inc.'s focus and activity:

• Commercial site hosts (retail, hospitality, workplaces) seeking to attract EV drivers:
  • This segment is a primary driver of the $56.39 million Networked Charging Systems revenue in Q3 FY2026.
  • These hosts purchase hardware and subscribe to the platform for management, contributing significantly to the $42.0 million subscription revenue in the same quarter.
• Electric vehicle fleet operators (logistics, rental, corporate) needing depot charging management:
  • The software platform is designed to include options for transport fleets of all types.
  • This group is a key driver for the high-margin subscription revenue stream, which grew 20% year-over-year in FY 2025.
• Automotive OEMs (Original Equipment Manufacturers) for bundled charging solutions:
  • ChargePoint Holdings, Inc. has active collaborations, such as the plan with General Motors (GM) to open hundreds of new DC fast charging stalls by the end of 2025.
• Residential EV owners purchasing home charging stations:
  • The product portfolio includes options for home charging.
  • While not explicitly broken out, this segment contributes to the overall network scale of over 1 million accessible locations.
• Government and municipal agencies for public charging infrastructure:
  • This segment is served through key contracts, including the renewal of a contract with Sourcewell to provide EV charging solutions to public agencies.
  • The company also completed six EV fast charging corridors across Colorado, serving public access points.

Geographically, the United States remains the core market, contributing $300 million, or 71.9%, of the total fiscal year 2025 revenue of $417.08 million.

For the US market specifically, as of February 1, 2025, ChargePoint was the market leader in AC Level 2 ports with 70,562 ports, representing a 44.6% share of the top networks. Finance: draft 13-week cash view by Friday.

ChargePoint Holdings, Inc. (CHPT) - Canvas Business Model: Cost Structure

You're looking at the core expenses that drive ChargePoint Holdings, Inc.'s operations as of late 2025. The focus here is on managing the cost of goods sold from hardware sales while aggressively controlling the overhead required to run the network and develop the software platform.

The Cost of Networked Charging Systems (Hardware) sales directly impacts the gross margin. For the full fiscal year 2025, ChargePoint Holdings, Inc. reported a Non-GAAP gross margin of 26% on total revenue of $417 million. This means the cost associated with the hardware and associated services sold was substantial, as the lower margin compared to subscription services pulls the overall profitability down.

The company made significant strides in controlling overhead. For the full fiscal year 2025, Operating expenses, on a Non-GAAP basis, were reduced by 26% year-over-year to $243.4 million. This reduction reflects a disciplined approach to streamlining operations following the reorganization announced in the prior year.

A key area of necessary expenditure is Significant R&D investment in software and next-generation charging technology. This investment supports the development of the ChargePoint Platform, which is crucial for maintaining a competitive edge in software-defined charging services.

Another major cost category involves Sales and marketing costs to acquire new commercial and fleet customers. These expenditures are necessary to drive the adoption of ChargePoint's solutions across new fleets and commercial properties, which feeds the network growth.

Finally, Network operations and maintenance costs for the large installed base are ongoing expenses. As of the end of fiscal year 2025, ChargePoint Holdings, Inc. closed the year with over 342,000 managed charging ports. Supporting and maintaining this large, distributed network is a continuous cost driver.

Here's a quick look at the scale of the FY 2025 cost management alongside the Q3 FY2026 segment performance, which gives you a more current view of the cost buckets:

The composition of the operating expenses, which are being tightly managed, includes these key functional areas:

• Research and Development (R&D) investment.
• Sales and Marketing expenses.
• General and Administrative costs.

The focus on operational excellence is definitely paying off in expense control, but the variable cost of hardware sales remains a key factor in margin performance.

ChargePoint Holdings, Inc. (CHPT) - Canvas Business Model: Revenue Streams

You're looking at how ChargePoint Holdings, Inc. actually brings in the money, which is key to understanding its path to profitability. The revenue streams are a mix of upfront sales and recurring income, which is what analysts like to see for stability.

For the full Fiscal Year 2025, which ended January 31, 2025, ChargePoint Holdings, Inc. reported total revenue of $417 million. This figure represents the top-line performance for the entire year, though it was down from the prior fiscal year.

Looking at the most recent quarter, the third quarter of fiscal year 2026 (ending October 31, 2025), the revenue streams showed a return to growth, with total revenue reaching $105.7 million. The breakdown of these streams is where the business model really shows itself:

The hardware sales, or Networked Charging Systems, were $56 million in Q3 FY2026, making up about 53% of that quarter's total revenue. You defintely see the importance of the physical product in the immediate top line.

The software and services side is the recurring piece, and it's growing faster. Subscription Revenue was $42 million in Q3 FY2026, marking a 15% increase year-over-year. This stream was 40% of the total Q3 revenue. The subscription margin continued its upward trend, hitting a new record of 63% on a GAAP basis.

ChargePoint Holdings, Inc. also generates revenue from other activities that support the network:

• Charging Session Fees (a portion of the transaction fee from EV drivers).
• Professional services revenue (installation, site planning, and maintenance).

The professional services and other minor streams are captured within the 'Other revenue' component, which was approximately $7 million in Q3 FY2026. The company derives the majority of its revenue from the United States, with North America making up 85% of revenue in Q3 FY2026.

Finance: draft 13-week cash view by Friday.