By Davit Kirakosyan

ChargePoint Holdings Inc (NYSE:) shares dropped 5% after-hours following the company’s reported Q1 results, with EPS of ($0.27) coming in worse than the consensus estimate of ($0.19).

The revenue grew by 102% to $81.6million year-over-year, which is 102% more than the consensus estimate at $75.7 million. Revenue from networked charging systems grew 122% to $59.6 millions, while subscription revenues grew 63% to $17.6million.

“Positive first quarter results, despite expected significant headwinds due to global supply constraints, are a testament to the strength of our business,” said Pasquale Romano, president and CEO of ChargePoint. “Our investments in a comprehensive portfolio for all verticals we serve continue to set us apart when customers seek a charging solution.”

For Q2, the company anticipates revenue between $96 and $1106 million. The full 2023 year revenue is expected to be $450-500m, which compares with the $471.6 million consensus estimate.

Chargepoint’s shares have fallen 33% over the past year.