ChargePoint Holdings (NYSE:CHPT) pared its post-earnings drop after CEO Pasquale Romano stated on the earnings conference call that the Tesla (TSLA)-Ford (F) electric vehicle battery partnership is not necessarily bad for the company.
Romano said ChargePoint (CHPT) still believes it remains well positioned to take advantage of the inevitable long-term growth opportunity ahead.
For Q1, ChargePoint (CHPT) showed a 59% gain in revenue to $130M. Networked charging systems revenue was up 65% and subscription revenue rose 49% to $26.4M.
Shares of ChargePoint (CHPT) showed a 5.33% decline at 5:38 p.m. after being down more than 8%.