EVgo Lifts Sales Outlook As Charging Revenue Hits Record High

EVgo Inc. (NASDAQ:EVGO) shares are trading higher on Monday after the company reported third-quarter FY25 results.

Details

The company registered a quarterly loss per share of 9 cents, in line with the analyst consensus estimate.

Quarterly sales of $92.3 million, up 37% year over year (Y/Y), beating the street view of $91.95 million.

Also Read: GM, Pilot And EVgo Lead Rollout of 200 Highway Fast-Charging Sites

Adjusted gross profit in the quarter under review gained 48% Y/Y to $26.7 million, with adjusted gross margin gaining 230 basis points to 28.9% in the quarter.

In the quarter under review, the company's Adjusted EBITDA was negative $5.0 million, compared with negative $8.9 million a year ago.

EVgo exited the quarter with $201 million in cash, cash equivalents, and restricted cash.

Key Metrics

Charging network revenue reached a record $55.8 million in the third quarter, up 33% Y/Y, marking the 15th consecutive quarter of double-digit annual growth.

Network throughput totaled 95 gigawatt-hours, representing a 25% increase from the prior year.

The company added over 280 new operational stalls in the third quarter, bringing its total to 4,590.

PlugShare has reached 7.4 million registered users and has achieved 9.9 million check-ins since its inception.

In the third quarter of 2025, EVgo's public network saw average daily throughput per stall increase of 16% to 295 kWh.

The company added over 149,000 new customer accounts, bringing the total to 1.6 million by quarter-end.

Management Commentary

"Looking ahead to the fourth quarter, we expect to bring a substantial number of new charging stations online across the U.S., expanding charging options and convenience for EV drivers nationwide,” said Badar Khan, EVgo's CEO.

”We anticipate an inflection point toward positive Adjusted EBITDA supported by a fully financed growth plan. With operating leverage, we expect accelerated profitability growth and sustained value creation," he added.

Outlook

EVgo raised its FY25 sales outlook from $350.00 million-$380.00 million to $350.00 million-$405.00 million, vs. a $367.0 million estimate.

Price Action: EVGO shares are trading higher by 10.82% at $3.79 premarket at the last check on Monday.

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