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Sep 30, 2023
EVgo Q3 2023 Earnings Report
EVgo's revenue increased significantly, driven by growth in charging and eXtend™ revenues, and network throughput reached record levels.
Key Takeaways
EVgo reported a substantial increase in revenue, reaching $35.1 million, a 234% increase year-over-year. Network throughput also saw significant growth, reaching 37 GWh, a 208% increase year-over-year. The company added over 106,000 new customer accounts, bringing the total to over 785,000.
Revenue grew to $35.1 million, representing a 234% increase year-over-year.
Network throughput reached 37 GWh, a 208% increase year-over-year.
Approximately 3,400 stalls were in operation or under construction, including EVgo eXtend™ stalls, with over 240 new stalls added during the quarter.
Over 106,000 new customer accounts were added, reaching more than 785,000 overall.
EVgo
EVgo
EVgo Revenue by Segment
Revenue by Segment
eXtend Revenue
CapyFin.comAncillary Revenue
CapyFin.com Forward Guidance
EVgo is updating full year 2023 guidance with total revenue of $148 - $158 million and Adjusted EBITDA of ($66) - ($62) million. EVgo expects to have a total of 3,400 – 3,700 DC fast charging stalls, including EVgo eXtend™, in operation or under construction.
Revenue & Expenses
Visualization of income flow from segment revenue to net income