ChargePoint Holdings, Inc.CHPT

ChargePoint Holdings, Inc. Goodwill & Intangibles Disclosure

10-KFiled Mar 28, 20252 min read
Goodwill and Intangible Assets
Goodwill
The following table summarizes the changes in carrying amounts of goodwill:
(in thousands)
Balance as of January 31, 2023$213,716 
Foreign exchange fluctuations
34 
Balance as of January 31, 2024
$213,750 
Foreign exchange fluctuations
(6,210)
Balance as of January 31, 2025
$207,540 
There was no impairment recognized for the years ended January 31, 2025, 2024, and 2023.
Intangible Assets
The following table presents the details of intangible assets:
January 31, 2025
Cost (1)
Accumulated Amortization (1)
Net (1)
Useful Life
(amounts in thousands, useful lives in years)
Customer relationships$87,724 $(29,371)$58,353 10
Developed technology17,868 (10,046)7,822 6
$105,592 $(39,417)$66,175 
_______________
(1) Values are translated into U.S. Dollars at period-end foreign exchange rates.
January 31, 2024
Cost (1)
Accumulated Amortization (1)
Net (1)
Useful Life
(amounts in thousands, useful lives in years)
Customer relationships$90,755 $(21,301)$69,454 10
Developed technology18,358 (7,257)11,101 6
$109,113 $(28,558)$80,555 
_______________
(1) Values are translated into U.S. Dollars at period-end foreign exchange rates.
Amortization expense for customer relationships and developed technology is shown as sales and marketing and cost of revenue, respectively, in the consolidated statements of operations.
Acquisition-related intangible assets included in the above table are finite-lived and are carried at cost less accumulated amortization. Intangible assets are being amortized on a straight-line basis over their estimated lives, which approximates the pattern in which the economic benefits of the intangible assets are expected to be realized.
The following table presents the amortization expense related to intangible assets:
Year ended January 31,
202520242023
(in thousands)
Amortization Expense$12,085 $12,140 $11,646 
The following table presents the estimated aggregate amortization expense related to intangible assets:
Years Ending January 31,(in thousands)
2026$11,753 
202711,753 
202810,640 
20298,774 
20308,774 
Thereafter14,481 
Total amortization expense$66,175 
The expected amortization expense is an estimate. Actual amounts of amortization may differ from estimated amounts due to additional intangible assets acquisitions, changes in foreign currency exchange rates, impairment of intangible assets, future changes to expected useful lives of intangible assets, and other events.

Historical Timeline

Fiscal YearFiled
2025Mar 28, 2025Showing above
2023Apr 3, 2023

About Goodwill & Intangibles Disclosures

Goodwill and intangible asset disclosures reveal the premium paid in acquisitions and how management assesses whether that premium retains its value. Since goodwill is no longer amortized under US GAAP, the annual impairment test is the only mechanism that adjusts carrying values downward — making the assumptions behind that test critically important for investors.

Key signals: a history of goodwill impairments suggests management consistently overpays for acquisitions. Watch the gap between reporting unit fair value and carrying amount — when fair value exceeds carrying amount by less than 10-20%, a small decline in business performance could trigger a write-down. For finite-lived intangibles, examine useful life assumptions across customer relationships, technology, and trade names; aggressive estimates inflate near-term earnings. Compare total intangibles-to-total-assets ratios against peers to assess acquisition dependency. Rising goodwill as a percentage of equity can signal balance sheet fragility.

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