Loading...
•
Jun 30, 2023
EVgo Q2 2023 Earnings Report
EVgo reported record results driven by significant growth in stalls, throughput, customer accounts, utilization, and revenue.
Key Takeaways
EVgo Inc. announced record second quarter 2023 results, with revenue reaching $50.6 million, a 457% increase year-over-year, and network throughput reaching a record 24.9 gigawatt-hours, a 147% increase year-over-year. The company added approximately 82,000 new customer accounts during the quarter, bringing the overall number of customer accounts to 688,000.
Revenue grew to a record $50.6 million in the second quarter, representing an increase of 457% year-over-year.
Network throughput reached a record 24.9 gigawatt-hours in the second quarter, an increase of 147% year-over-year.
Ended the second quarter with approximately 3,200 stalls in operation or under construction, with 210 new stalls added to the EVgo network during the quarter.
Added more than 82,000 new customer accounts in the second quarter, reaching approximately 688,000 overall at the end of the quarter.
Revenue by Segment
Forward Guidance
EVgo is updating full year 2023 guidance as follows: Total revenue of $120 – $150 million and Adjusted EBITDA of ($78) – ($68) million. Additionally, at year-end 2023, EVgo continues to expect to have a total of 3,400 – 4,000 DC fast charging stalls in operation or under construction.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...