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Sep 30
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.
EVgo
EVgo
EVgo Revenue by Segment
Revenue by Segment
Charging, retail Revenue
CapyFin.comCharging, commercial Revenue
CapyFin.comCharging, OEM Revenue
CapyFin.comRegulatory credit sales Revenue
CapyFin.comNetwork, OEM Revenue
CapyFin.comeXtend Revenue
CapyFin.comAncillary Revenue
CapyFin.com 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.
- The company's performance is dependent on widespread adoption of EVs and growth of the EV and EV charging markets.
- Subject to various risks and uncertainties, including competition, regulatory changes, and supply chain disruptions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income