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Jun 30, 2022
EVgo Q2 2022 Earnings Report
EVgo Inc. reported second quarter 2022 results, demonstrating strong growth in revenue and network throughput.
Key Takeaways
EVgo Inc. announced its Q2 2022 results, revealing a 90% year-over-year increase in revenue, reaching $9.1 million. Network throughput also saw a significant rise, reaching 10.1 GWh, a 66% increase year-over-year. The company added approximately 67,000 new customer accounts, bringing the total to approximately 444,000.
Network throughput reached 10.1 Gigawatt-hours, an increase of 66% year-over-year.
Revenue grew to $9.1 million, representing an increase of 90% year-over-year.
EVgo ended the quarter with 2,397 stalls in operation or under construction, operationalizing 170 new stalls during the quarter.
Approximately 67,000 new customer accounts were added, increasing overall to approximately 444,000.
EVgo
EVgo
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
- EVgo expects to have a total of 3,000 – 3,300 DC fast charging stalls operational or under construction.