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Sep 30, 2025
EVgo Q3 2025 Earnings Report
EVgo reported a 37% increase in total revenues, reaching a record $92.3 million, driven by strong charging network revenue and significant growth in network throughput and operational stalls.
Key Takeaways
EVgo delivered a strong third quarter in 2025, achieving record total revenues of $92.3 million, a 37% increase year-over-year, and record charging network revenue of $55.8 million. The company expanded its network by adding over 280 new operational stalls, bringing the total to 4,590, and saw a 25% increase in network throughput. Despite an operating loss, EVgo demonstrated improved financial metrics with a 97% increase in gross profit and a 44% improvement in Adjusted EBITDA.
Total revenues increased by 37% year-over-year to a record $92.3 million in Q3 2025.
Charging network revenue reached a record $55.8 million, marking the 15th consecutive quarter of double-digit year-over-year growth.
Network throughput grew by 25% year-over-year to a record 95 gigawatt-hours.
The company added over 280 new operational stalls, ending the quarter with 4,590 stalls in operation, a 25% increase year-over-year.
Revenue by Segment
Forward Guidance
EVgo is updating its 2025 financial guidance, projecting total revenue between $350 million and $405 million and Adjusted EBITDA between $(15) million and $23 million, anticipating an inflection point towards positive Adjusted EBITDA.
Positive Outlook
- Expects to bring a substantial number of new charging stations online across the U.S. in Q4.
- Anticipates an inflection point toward positive Adjusted EBITDA.
- Foresees accelerated profitability growth with operating leverage.
- Projects sustained value creation.
- Growth plan is fully financed.
Challenges Ahead
- Adjusted EBITDA guidance still includes a potential negative range of $(15) million.
- Ancillary upside for revenue and Adjusted EBITDA is subject to uncertainty regarding contract close-out and gain on sale for an existing dedicated fleet site.
- Reconciliation of projected Adjusted EBITDA to net income (loss) is not provided due to calculation difficulties.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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