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Mar 31, 2022
EVgo Q1 2022 Earnings Report
EVgo started 2022 strong with record stall growth and increased customer base.
Key Takeaways
EVgo Inc. reported an 86% year-over-year increase in revenue, reaching $7.7 million in the first quarter of 2022. Network throughput grew by 95% year-over-year. The company added 129 new stalls, reaching a total of 2,110 stalls in operation or under construction.
Revenue increased by 86% year-over-year to $7.7 million.
Network throughput increased by 95% year-over-year.
Added 129 new operational DC fast charging stalls during the quarter.
Customer accounts totaled approximately 375,000 at the end of the quarter.
Forward Guidance
EVgo is affirming its previously announced guidance for full-year 2022.
Positive Outlook
- Total revenue of $48 – $55 million
- Network throughput of 50 – 60 GWh
- Adjusted EBITDA of ($75) – ($85) million
- Total of 3,000 – 3,300 DC fast charging stalls operational or under construction.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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