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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.
Revenue by Segment
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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