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Dec 31, 2022
EVgo Q4 2022 Earnings Report
EVgo Inc. reported increased revenue and network throughput, driven by growth in its charging network and strategic partnerships.
Key Takeaways
EVgo Inc. reported a significant increase in revenue for Q4 2022, with a 283% year-over-year growth, reaching $27.3 million. This growth was primarily driven by increased network throughput and the execution of the Pilot Flying J contract. The company also expanded its network, adding 180 new stalls and approximately 59,000 new customer accounts during the quarter.
Revenue grew to $27.3 million in the fourth quarter, representing a 283% increase year-over-year.
Network throughput reached 14.4 Gigawatt-hours in the fourth quarter, a 76% year-over-year increase.
Over 2,800 stalls were in operation or under construction by the end of the fourth quarter, with 180 new stalls added during the quarter.
Approximately 59,000 new customer accounts were added in the fourth quarter, reaching approximately 553,000 overall.
Revenue by Segment
Forward Guidance
EVgo provided its 2023 financial guidance, including total revenue between $105 and $150 million, and adjusted EBITDA between $(78) and $(60) million. They also expect to have between 3,400 and 4,000 DC fast charging stalls in operation or under construction by the end of 2023.
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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