EVgo (US:EVGO)2026-03-03 12:15Revenue Growth - Total revenue for Q4 2025 reached $118 million, a 75% increase year-over-year[3] - Full year 2025 revenue was $384 million, reflecting a 50% growth compared to 2024[3] - Charging network revenue in Q4 2025 was $64 million, up 37% year-over-year, marking the 16th consecutive quarter of double-digit growth[3] - Total revenue for the year ended December 31, 2025, increased by 50% to $384,086,000 compared to $256,825,000 in 2024[21] - Q4 2025 GAAP revenue reached $118.47 million, a 75% increase from Q4 2024's $67.51 million, with FY 2025 revenue at $384.09 million, up 50% from FY 2024's $256.83 million[30] Profitability Metrics - Adjusted EBITDA for Q4 2025 was $24.9 million, a 396% improvement compared to the same quarter in 2024[6] - Charging Network Gross Profit for Q4 2025 was $29.34 million, a 56% increase from Q4 2024's $18.84 million, with FY 2025 Gross Profit at $85.76 million, up 46% from FY 2024's $58.56 million[33] - Adjusted EBITDA for Q4 2025 was $24.86 million, a 396% increase from Q4 2024's loss of $8.40 million, with FY 2025 Adjusted EBITDA at $12.02 million, a 137% improvement from FY 2024's loss of $32.47 million[30] - GAAP gross profit for Q4'25 was $44.99 million, reflecting a 361% increase compared to Q4'24, with FY 2025 gross profit at $80.78 million, up 175%[34] Operational Metrics - Network throughput for Q4 2025 was 99 GWh, an 18% increase year-over-year, while full year throughput reached 366 GWh, a 32% increase[3] - The company added over 500 new operational stalls in Q4 2025, ending the year with a total of 5,100 stalls, a 25% increase from the previous year[3] - EVgo added over 93,000 new customer accounts in Q4 2025, bringing the total to 1.6 million[7] Financial Position - Cash, cash equivalents, and restricted cash totaled $211 million as of December 31, 2025[3] - Cash and cash equivalents at the end of 2025 were $151,000,000, up from $117,273,000 at the end of 2024[20] - Total assets increased to $964,830,000 in 2025, compared to $803,761,000 in 2024, reflecting a growth of 20%[20] - Total current liabilities increased to $135,322,000 in 2025 from $111,410,000 in 2024, representing a 21% increase[20] Loss and Expenses - Operating loss for the year ended December 31, 2025, improved by 16% to $(110,663,000) from $(131,570,000) in 2024[21] - Net loss attributable to Class A common stockholders for 2025 was $(41,574,000), a 6% improvement from $(44,334,000) in 2024[21] - GAAP net loss for Q4 2025 was $11.03 million, a 69% reduction from Q4 2024's loss of $35.61 million, with FY 2025 net loss at $95.44 million, down 25% from FY 2024's loss of $126.70 million[30] - GAAP general and administrative expenses for Q4'25 were $54.24 million, a 36% increase from Q4'24, with FY 2025 expenses at $176.87 million, up 25%[34] Future Projections - For 2026, the company projects revenue between $410 million and $470 million, with Adjusted EBITDA guidance of $(20) million to $20 million[15] - The company plans to focus on scaling NACS connectors and enhancing customer experience as part of its long-term value creation strategy[4] Capital Expenditures - Capital expenditures for the year ended December 31, 2025, were $116,707,000, compared to $94,787,000 in 2024[22] - Capital expenditures for Q4'25 were $49.36 million, a 108% increase from Q4'24, with FY 2025 capital expenditures at $116.71 million, up 23%[35] - Capital Expenditures, Net of Capital Offsets, for Q4'25 were $46.79 million, a 238% increase from Q4'24, and FY 2025 was $76.21 million, up 64%[35] Cost Management - Total Adjusted Cost of Sales for Q4'25 was $58.13 million, a 30% increase from Q4'24, with FY 2025 at $243.37 million, up 34%[34] - GAAP cost of sales as a percentage of revenue improved to 62.0% in Q4'25, down 2,350 basis points from Q4'24, and FY 2025 was 79.0%, down 960 basis points[34] - Total adjustments to General and Administrative Expenses in Q4'25 amounted to $18.78 million, a 113% increase from Q4'24, with FY 2025 adjustments at $48.19 million, up 46%[34]