EVgo (US:EVGO)2025-11-10 12:30Financial Performance - Total revenue for Q3 2025 was $92.3 million, representing a 37% increase year-over-year[4] - Adjusted Gross Profit for Q3 2025 was $26.7 million, an increase of 48% year-over-year[10] - Total revenue for the three months ended September 30, 2025, was $92,299,000, representing a 37% increase compared to $67,535,000 for the same period in 2024[26] - Charging revenue from retail increased by 32% to $35,296,000, while commercial charging revenue rose by 20% to $9,070,000 for the same quarter[26] - Year-to-date GAAP revenue for Q3'25 reached $265.6 million, a 40% increase from $189.3 million in the same period of 2024[37] Charging Network Growth - Charging network revenue reached a record $55.8 million, up 33% year-over-year, marking the 15th consecutive quarter of double-digit growth[4] - Network throughput hit a record 95 GWh, reflecting a 25% increase year-over-year[4] - The company added over 280 new operational stalls during the quarter, ending with 4,590 stalls in operation, a 25% increase year-over-year[4] - Average daily throughput per stall increased by 16% to 295 kWh compared to 254 kWh in Q3 2024[5] - EVgo added over 149,000 new customer accounts, bringing the total to 1.6 million by the end of the quarter[5] Profitability and Loss - The company reported a GAAP net loss of $(28.4) million in Q3'25, a 15% improvement from $(33.3) million in Q3'24[37] - Operating loss for the three months ended September 30, 2025, was $34,084,000, a 7% increase compared to $31,789,000 in the same quarter of 2024[26] - Net loss attributable to Class A common stockholders for the three months ended September 30, 2025, was $12,385,000, a 6% increase from $11,709,000 in the prior year[26] Cash Flow and Capital Expenditures - Cash and cash equivalents increased to $181,327,000 as of September 30, 2025, from $117,273,000 at the end of 2024[22] - The company reported capital expenditures of $67,343,000 for the nine months ended September 30, 2025[29] - GAAP capital expenditures for Q3'25 were $26,152,000, a 1% increase from Q3'24's $25,835,000[40] - Year-to-date GAAP capital expenditures decreased by 5% from $71,102,000 in Q3'24 to $67,343,000 in Q3'25[40] Financial Guidance and Expectations - The company expects to bring a substantial number of new charging stations online in Q4 2025, anticipating a positive Adjusted EBITDA inflection point[2] - 2025 revenue guidance is updated to a range of $350 - $365 million, with potential upside of up to $40 million[14] Cost Management - EVgo's Adjusted Cost of Sales as a Percentage of Revenue improved to 71.1% in Q3'25, down from 73.4% in Q3'24, reflecting a 230 basis point improvement[39] - General and Administrative Expenses for Q3'25 were $43.4 million, a 31% increase from $33.1 million in Q3'24[39] - The Adjusted General and Administrative Expenses as a Percentage of Revenue decreased to 34.3% in Q3'25 from 39.8% in Q3'24, a reduction of 550 basis points[39]