Shares of ChargePoint Holdings climbed after the company narrowed its loss and posted stronger revenue growth than Wall Street analysts were expecting.
The stock was up 18% to $6.11 in premarket trading on Thursday. Shares closed Wednesday down 2.1% at $5.19, having fallen 22% this year.
The electric-vehicle charging company on Wednesday reported a fiscal second-quarter loss of $35.6 million, or $1.35 a share, compared with a loss of $66.2 million, or $2.85 a share, a year earlier.
Revenue grew to $116.1 million, up from $98.6 million a year prior.
Analysts polled by FactSet were expecting a loss of $1.57 a share on $105.2 million in revenue.
For the current third quarter, the company guided for revenue between $105 million and $115 million. Analysts were expecting $109.3 million.