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Dec 31, 2021
EVgo Q4 2021 Earnings Report
EVgo experienced revenue growth, customer acquisition, and station development.
Key Takeaways
EVgo Inc. reported a revenue increase of 70% year-over-year, reaching $7.1 million for the fourth quarter of 2021. Network throughput increased by 95% year-over-year, totaling 8.2 GWh. The company ended the year with approximately 340,000 customer accounts, a 47% increase over the prior-year period.
Revenue increased by 70% year-over-year in Q4 2021.
Network throughput increased by 95% year-over-year in Q4 2021.
Customer accounts grew by 47% year-over-year, reaching approximately 340,000.
Active Engineering and Construction pipeline increased to more than 3,100 fast charging stalls as of year-end 2021.
Forward Guidance
EVgo provided full-year 2022 guidance, which includes a total revenue of $48 - $55 million, network throughput of 50 - 60 GWh, and adjusted EBITDA of ($75) - ($85) million. They also expect to have a total of 3,000 - 3,300 DC fast charging stalls operational or under construction by the end of 2022.
Positive Outlook
- Total revenue of $48 – $55 million
- Network throughput of 50 – 60 GWh
- Adjusted EBITDA of ($75) – ($85) million
- EVgo expects to have a total of 3,000 – 3,300 DC fast charging stalls operational or under construction.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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