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EVgo (EVGO) investor relations material

EVgo Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary10 Nov, 2025

Executive summary

  • Achieved record Q3 2025 revenue of $92.3 million, up 37% year-over-year, with strong growth in charging network, extend, and OEM channels, and a $3.9 million improvement in adjusted EBITDA.

  • Ended Q3 with 4,590 stalls in operation, a 25% year-over-year increase, and customer accounts up fivefold since 2021, reaching 1.6 million.

  • Network throughput reached 95 GWh, up 25% year-over-year, with average daily throughput per stall at 295 kWh.

  • Cash, cash equivalents, and restricted cash totaled $201 million at quarter end, with an additional $41 million DOE loan advance in October.

  • Autocharge+ accounted for 28% of charging sessions, and PlugShare platform reached 7.4 million users.

Financial highlights

  • Q3 2025 revenue: $92.3 million (+37% YoY); charging network revenue: $55.8 million (+33% YoY); extend revenue: $31.9 million (+46% YoY); ancillary revenue: $4.6 million (+27% YoY).

  • Gross profit was $12.6 million, up 97% year-over-year; adjusted gross profit was $26.7 million, up 48%.

  • Adjusted EBITDA for Q3 was $(5.0) million, a 44% improvement year-over-year; adjusted EBITDA margin improved by 780 bps to (5.4)%.

  • Net loss attributable to Class A common stockholders was $12.4 million for Q3 2025.

  • Adjusted general and administrative expenses as a percentage of revenue: 34.3% for Q3 2025, down 550 bps year-over-year.

Outlook and guidance

  • 2025 revenue guidance: $350–$365 million baseline, with potential upside to $405 million; adjusted EBITDA guidance: $(15)–$(8) million baseline, with potential upside to $23 million.

  • Q4 2025 expected to reach adjusted EBITDA breakeven; management anticipates an inflection point toward positive adjusted EBITDA.

  • 2025 stall deployment guidance: 1,250–1,325 new stalls, with net capex of $100–$110 million.

  • Charging network revenues expected to be about 60% of total 2025 revenues; extend revenues to be 30% higher than 2024.

  • G&A expected to rise 20% in 2026 as growth investments continue.

What drives Q4 positive Adjusted EBITDA inflection?
Explain capital offsets' role in growth funding.
What factors improve average daily stall throughput?
NACS rollout: What guides 2026 scaling decisions?
AV partner contracts: How does deemed sale impact cash?
EBITDA acceleration: What drives post-breakeven growth?
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Frequently asked questions

EVgo operates the world's largest public fast-charging network for electric vehicles in the United States. With over 800 fast chargers, located at convenient retail locations and participating dealerships, EVgo chargers are compatible with most modern electric vehicles. The company was founded in 2010 and is based in Los Angeles, California.

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