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EVgo Q1 2025 Earnings Report
EVgo Inc. reported record first quarter 2025 results with significant revenue and network throughput growth.
Key Takeaways
EVgo Inc. achieved record revenue of $75.3 million in the first quarter of 2025, marking a 36% year-over-year increase. Charging network revenue also reached a record $47.1 million, up 49% year-over-year, and network throughput increased by 60% to 83 gigawatt-hours. The company added over 180 new operational stalls, ending the quarter with 4,240 stalls in operation.
Record revenue of $75.3 million, an increase of 36% year-over-year.
Charging network revenue reached a record $47.1 million, up 49% year-over-year, marking the 13th consecutive quarter of double-digit growth.
Network throughput increased by 60% year-over-year to 83 gigawatt-hours.
Added over 180 new operational stalls, bringing the total to 4,240 stalls in operation.
EVgo
EVgo
EVgo Revenue by Segment
Revenue by Segment
Charging, retail Revenue
CapyFin.comCharging, commercial Revenue
CapyFin.comCharging, OEM Revenue
CapyFin.comRegulatory credit sales Revenue
CapyFin.comNetwork, OEM Revenue
CapyFin.comeXtend Revenue
CapyFin.comAncillary Revenue
CapyFin.com Forward Guidance
EVgo is affirming its 2025 financial guidance, expecting total revenue between $340 million and $380 million and Adjusted EBITDA between -$5 million and $10 million.
Positive Outlook
- Anticipates being minimally impacted by tariffs.
- Remains focused on achieving Adjusted EBITDA breakeven in 2025.
- Investing in growth, including next generation charging experience.
- Strong balance sheet and owner-operator model position the company well to meet growing demand.
- Secured $75 million first advance and $19 million second advance from a $1.25 billion loan guarantee from the U.S. Department of Energy for building fast charging stalls.
Challenges Ahead
- Adjusted EBITDA guidance includes a potential negative range.
- The company is still investing in growth, which may impact short-term profitability.
- Reliance on external financing (DOE loan) for significant expansion.
- Future performance is subject to numerous assumptions, risks, and uncertainties.
- Potential for changes in industry and regulatory standards, and market demands.
Revenue & Expenses
Visualization of income flow from segment revenue to net income