How much of ChargePoint’s revenue comes from haram?

ChargePoint provides electric vehicle charging networks and solutions in the United States.

The company earns its revenue from the following segments: 

  • Networked Charging Systems:

Includes revenue related to deliveries of EV charging system infrastructure, including Level 1 home chargers typically sold to drivers, Level 2 AC chargers for commercial use, and Level 3 DC fast charging systems for urban/corridor charging and for fleet operators.

  • Subscriptions:

Includes revenue generated from services related to Cloud, as well as extended maintenance service plans under Assure for businesses to offer ChargePoint electric vehicle charging.

  • Other:

Includes fees received for transferring regulatory credits earned for participating in low carbon fuel programs in approved states, charging related fees received from drivers using charging sites owned and operated by ChargePoint, net transaction fees earned for processing payments collected on driver charging sessions at charging sites owned by its customers, and other professional services.

The contributions from each of ChargePoint’s revenue segments in their 2021 annual report were as follows:

Practical Islamic Finance concludes:

None of ChargePoint’s revenue comes from anything inherently haram.

Does ChargePoint rely on interest to operate?

Most Recent Quarter
ended
1/31/2022
Fiscal year
ended
1/31/2022
Fiscal year
ended
1/31/2021
Interest Expense $ $1,502 $3,253
Total Operating Expenses $158,371 $501,446 $267,482
Interest Expense /
Total Operating Expenses
0.00% 0.30% 1.22%
*Numbers in thousands, U.S. dollars

Practical Islamic Finance concludes:

ChargePoint Holdings, Inc. most recent quarter indicates no reliance on Riba in its operations.

What is ChargePoint’s Environmental, Social, and Governance (ESG) impact?

Environment

So far, the energy provided by Chargepoint’s electric charging stations would have required burning more than 120 million gallons of gasoline. Therefore, Chargepoint is helping spare the environment from tons of harmful byproducts emitted from gasoline burning. 

Social

ChargePoint has a Glassdoor rating of 3.9 out of 5.0 from over 125 current and previous employees compared to a 3.3 average for all other Glassdoor rated companies.

Governance

No notable governance highlights.

Practical Islamic Finance concludes:

ChargePoint has a net positive ESG impact.

Comfort Rating

From ChargePoint’s business, financials, and ESG reviews, Practical Islamic Finance rates ChargePoint’s stock as: 

Comfortable to invest in from a Halal perspective.

Sources

ChargePoint Reviews

Building a Sustainable Future Together  

ChargePoint Q2 2021 10-Q

ChargePoint S-1