EVgo reported Q3 2025 earnings on November 10, 2025, with total revenue of $92.3 million, a 37% year‑over‑year increase, beating consensus of $91.12 million by $1.18 million (1.3%).
Revenue growth was driven by a 33% rise in charging‑network revenue to $58.4 million and a 46% jump in eXtend revenue to $20.5 million, while ancillary services grew modestly. The mix shift toward higher‑margin charging network and eXtend segments helped offset pressure on lower‑margin ancillary revenue.
Adjusted earnings per share fell to $‑0.09 versus consensus of $‑0.087, a 3.5% miss. The slight loss was largely attributable to higher operating expenses linked to the deployment of 4,590 stalls and a one‑time restructuring charge. Gross margin expanded to 29% from 27% year‑ago, driven by improved pricing and higher utilization of the charging network.
Management guided full‑year 2025 revenue to $350–$405 million, up from the prior $330–$380 million range, and adjusted EBITDA to –$15 to +$23 million, a shift from –$20 to +$18 million previously. The guidance signals confidence that the company will reach EBITDA break‑even in Q4 2025, supported by continued network expansion and the NACS pilot program.
EVgo added 4,590 stalls in operation at the end of Q3, a 25% year‑over‑year increase, and expanded its NACS pilot to include 200 new Tesla‑compatible sites. The company also secured a $300 million commercial bank facility and DOE loan advances, providing liquidity for further deployment.
CEO Badar Khan emphasized that the company is moving closer to a point where charging‑network gross profits exceed fixed costs, while CFO Paul Dobson highlighted the leverage of fixed costs per stall as throughput rises. Investors responded positively to the revenue beat and clear path to profitability, underscoring the market’s focus on growth momentum and operational efficiency.
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