Chargepoint Stock Drops: Q1 Misses, Q2 Guidance Cut

Chargepoint Holdings, Inc. fell 1.92% in premarket trading, as the company reported first-quarter revenue of $97.6 million, down 9% year-over-year and missing analyst expectations of $100.5 million. The company also forecasted second-quarter revenue between $90 million and $100 million, below analyst expectations of $108.1 million, due to market uncertainty suppressing recent purchases and impacting the growth of the electric vehicle market.