EVgo Q3 Sales Surge 92% As Charging Revenues And Customer Growth Drive Performance; Stock Jumps [Yahoo! Finance]
EVgo Inc. (EVGO)
Company Research
Source: Yahoo! Finance
Revenue growth was primarily driven by year-over-year increases in charging network and eXtend revenues. EVgo's network throughput for the quarter was 78 Gigawatt-hours (GWh), a growth of 111% year-over-year. The company added over 147,000 new customer accounts during the third quarter, bringing the overall number of customer accounts to more than 1.2 million at quarter end. Adjusted gross profit for the quarter was $18.0 million versus $9.3 million last year. Adjusted gross margin expanded 20 basis points to 26.6% in the quarter. Adjusted EBITDA loss was $8.9 million versus a $14.2 million loss last year. Loss per share of 11 cents beat the analyst consensus loss estimate of 12 cents. Badar Khan, EVgo's CEO, said, “Our deployment team continued to meet demand head-on bringing a record number of stalls online in the third quarter. With our conditional commitment from DOE for a loan guarantee of up to $1.05 billion announced last month, EVgo is poised to lead the industry as
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EVGO
News
- Why EVgo Stock Surged Over 25% This Week and Could Rally Even Higher [Yahoo! Finance]Yahoo! Finance
- As Meijer works to increase EV-charging reach, retailers are starting to see benefits [Yahoo! Finance]Yahoo! Finance
- EVgo Expands Charging Network in Midwest with $1.05 Billion DOE Loan Guarantee [Yahoo! Finance]Yahoo! Finance
- Hilton Bets Big on India: 150 New Hotels Planned Amid Shift From China [Yahoo! Finance]Yahoo! Finance
- Hilton Bets Big on India: 150 New Hotels Planned Amid Shift From China [Yahoo! Finance]Yahoo! Finance
EVGO
Earnings
- 11/12/24 - Miss
EVGO
Sec Filings
- 11/15/24 - Form 4
- 11/14/24 - Form 144
- 11/12/24 - Form 10-Q
- EVGO's page on the SEC website