EVgo (US:EVGO)2022-11-02 22:40Business Overview - EVgo is a market leader in clean mobility electrification, powered by 100% renewable energy since 2019 through renewable energy certificates[6,7] - EVgo has approximately 498,000 customer accounts and over 28 million registered PlugShare accounts[6,7] - EVgo has added nearly 10,000 potential charging stalls that pass internal investment hurdles and could be added to the pipeline[8] Operational Highlights - EVgo had 2,625 stalls in operation or under construction as of Q3 2022[6,9] - The Active E&C Stall Development Pipeline reached 4,534 stalls[7,9] - Network throughput increased by approximately 51% year-over-year, reaching 121 GWh in Q3 2022[6,9] Financial Highlights - Revenue increased by 70% year-over-year in Q3 2022[9,15] - Adjusted gross margin was 190% in Q3 2022, compared to 222% in Q3 2021[14] - Adjusted EBITDA was a loss of $22175 million in Q3 2022, compared to a loss of $14272 million in Q3 2021[14] 2022 Guidance - EVgo updated its 2022 revenue guidance to $48-55 million[19] - Network throughput is projected to be 42-45 GWh for 2022[19] - Adjusted EBITDA is forecasted to be a loss of $80-85 million for 2022[19] - Total stalls in operation or under construction are expected to be 2,800-3,100 by the end of 2022[19]