ChargePoint reported QQ2 2026 revenue of $99.0 million, at the high end of guidance, with non-GAAP gross margin of 33%—the highest since going public and up 3 percentage points sequentially. The quarter featured a continued reduction in cash burn and a stable cash balance of approximately $195 million, alongside a sizable hardware and software revenue mix (hardware 51%, subscription 40%, other 8%). Revenue declined 9% year-over-year but advanced sequentially, reflecting a softer macro backdrop (notably in North America) and tariff/Policy uncertainty affecting project timing. Management signaled a deliberate shift to extend EBITDA breakeven beyond the current year to fund product innovation and commercialization, underpinned by Eaton partnership-driven product cycles and Europe-focused initiatives. The guidance for 2026 was narrowed to $90–$100 million in revenue, underscoring a cautious stance while maintaining an emphasis on long-term profitability, margin expansion, and cash-burn reduction. The earnings call emphasized strategic investments in new product architectures (AC/DC charging), cost discipline, and a multi-year path to profitability, supported by a growing European footprint and a ramp in DC fast charging through partnerships. Overall, CHPT exhibits a differentiating software/hardware moat, an improving gross margin trajectory, and a near-term strategy focused on innovation-led growth, albeit with elevated OpEx and modest near-term profitability.