Street Calls of the Week
Investing.com -- Fastned reported a 44% year-over-year revenue growth in its third quarter trading update, matching analyst expectations. The electric vehicle charging company’s shares rose 7% following the announcement.
The company achieved a gross margin of 81% for the quarter, slightly below the 83% analysts had forecast according to Visible Alpha consensus.
Fastned expanded its network to 380 operational stations by the end of the third quarter, adding 17 new stations compared to the previous quarter. The company also increased its total secured locations to 624, representing a growth of 18 locations.
The EV charging network provider maintained its full-year 2025 outlook, confirming it expects to reach between 400-425 operational stations by year-end. Fastned currently has 30 stations under construction in addition to its 380 operational stations.
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