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Jun 30, 2024
EVgo Q2 2024 Earnings Report
EVgo's financial performance was strong, marked by significant revenue growth and increased network throughput.
Key Takeaways
EVgo Inc. reported a record revenue of $66.6 million for Q2 2024, a 32% increase year-over-year. The company achieved its 6th consecutive quarter of triple-digit year-over-year network throughput growth and raised the midpoint of total revenue guidance by $10 million.
Revenue reached a record $66.6 million, up 32% year-over-year.
Charging network revenue totaled $36.4 million, a 146% increase year-over-year.
Network throughput reached a record 66 GWh, up 164% year-over-year.
Over 131,000 new customer accounts were added, reaching more than 1 million overall.
Revenue by Segment
Forward Guidance
EVgo is updating 2024 guidance by raising the midpoint of total revenue guidance by $10 million, resulting in total revenue guidance of $240 - $270 million, and adjusted EBITDA of ($44) – ($34) million.
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
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