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Sep 30, 2022
EVgo Q3 2022 Earnings Report
Revenue increased, network throughput grew, and customer accounts expanded.
Key Takeaways
EVgo Inc. reported a 70% year-over-year increase in revenue, reaching $10.5 million in Q3 2022. Network throughput increased by 51% year-over-year, and the company added approximately 54,000 new customer accounts.
Revenue grew to $10.5 million, a 70% increase year-over-year.
Network throughput reached 12.1 GWh, a 51% increase year-over-year.
Added 188 new stalls to the EVgo network during the quarter, ending with 2,625 stalls in operation or under construction.
Added approximately 54,000 new customer accounts, reaching approximately 498,000 overall.
Forward Guidance
EVgo is affirming its total revenue guidance and updating its other guidance ranges for full-year 2022.
Positive Outlook
- Total revenue of $48 – $55 million
- Network throughput of 42 – 45 GWh
- Adjusted EBITDA of ($80) – ($85) million
- Total of 2,800 – 3,100 DC fast charging stalls operational or under construction.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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