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LOS ANGELES - EVgo Inc. (NASDAQ:EVGO), a leading electric vehicle charging network operator, reported better-than-expected first-quarter results and provided guidance for the second quarter that aligns with analyst estimates.
The company posted a narrower-than-anticipated loss of -$0.09 per share for Q1 2025, beating the analyst consensus of -$0.11. Revenue surged 36% YoY to a record $75.3 million, surpassing the $71.4 million estimate. EVgo’s charging network revenue, which accounts for the majority of its business, jumped 49% YoY to $47.1 million, marking the 13th consecutive quarter of double-digit growth.
EVgo’s network throughput, a key metric indicating usage, increased 60% YoY to 83 gigawatt-hours. The company expanded its infrastructure, adding over 180 new operational stalls during the quarter, bringing its total to 4,240 stalls in operation by the end of March.
CEO Badar Khan commented, "EVgo once again achieved a record level of revenues, starting 2025 off on a strong foundation. We continue to deploy critical fast charging infrastructure across the U.S. and believe our strong balance sheet and owner-operator model position us well to meet the growing demand."
Looking ahead, EVgo projects second-quarter revenue between $340 million and $380 million, with the midpoint of $360 million closely aligning with the analyst consensus of $351.8 million. The company remains focused on achieving adjusted EBITDA breakeven in 2025 while continuing to invest in growth initiatives.
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