EVgo Inc. Reports Record Second Quarter 2025 Results

EVgo Inc., a leading public fast charging provider, has released its financial results for the second quarter of 2025. The company reported significant growth in revenue and operational performance, driven by strategic initiatives and strong market demand.

Financial Highlights

EVgo reported a record revenue of $98.0 million for the second quarter of 2025, marking a 47% increase year-over-year. The company's gross profit also saw a substantial rise, reaching $13.9 million, a 117% increase compared to the same period last year. Despite these gains, the company reported a net loss attributable to Class A common stockholders of $13.0 million.

Other key financial metrics include:

• Network throughput of 88 gigawatt-hours, a 35% increase year-over-year.
• Adjusted EBITDA of ($1.9) million, showing a significant improvement from the ($7.9) million reported in Q2 2024.
• Net cash provided by operating activities was $14.1 million, an 86% increase from the previous year.

Business and Operational Highlights

EVgo added more than 240 new operational stalls during the second quarter, bringing the total number of stalls in operation to 4,350. The company also reported that its Autocharge+ feature accounted for 28% of total charging sessions initiated in the second quarter.

Additionally, EVgo secured a commercial bank financing facility of up to $300 million, with $225 million committed. This facility is expected to accelerate the nationwide deployment of over 1,500 new fast charging stalls.

Strategic Initiatives and Corporate Developments

EVgo's CEO, Badar Khan, highlighted the company's groundbreaking financing transaction, which is the first of its kind in the sector. This initiative aims to accelerate stall growth and strengthen EVgo's position as an industry leader. The company is also focused on achieving Adjusted EBITDA breakeven for the full year.

Management's Perspective

Badar Khan, EVgo’s CEO, stated, "EVgo delivered another record quarter powered by strong operational performance, improved operating efficiencies, and focused execution on our financial initiatives. Our groundbreaking financing transaction marks the first of its kind in our sector and will help accelerate stall growth and further EVgo’s position as an industry leader built for long-term success."

Future Outlook

EVgo has updated its financial guidance for 2025, projecting total revenue between $350 million and $380 million. The company also anticipates Adjusted EBITDA to range from $(5) million to $10 million.

SEC Filing: EVgo Inc. [ EVGO ] - 8-K - Aug. 05, 2025