EVgo | 10-Q: FY2025 Q1 Revenue Beats Estimate at USD 75.29 M

LB filings
2025.05.06 20:48
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Revenue: As of FY2025 Q1, the actual value is USD 75.29 M, beating the estimate of USD 71.37 M.

EPS: As of FY2025 Q1, the actual value is USD -0.09, missing the estimate of USD -0.0887.

EBIT: As of FY2025 Q1, the actual value is USD -7.263 M.

Segment Revenue

  • Charging, Retail: Revenue increased by $11.7 million, or 64%, to $30.0 million for the three months ended March 31, 2025, compared to $18.3 million for the same period in 2024.
  • Charging, Commercial: Revenue increased by $2.7 million, or 52%, to $7.8 million for the three months ended March 31, 2025, compared to $5.1 million for the same period in 2024.
  • Charging, OEM: Revenue increased by $2.5 million, or 92%, to $5.3 million for the three months ended March 31, 2025, compared to $2.7 million for the same period in 2024.
  • Regulatory Credit Sales: Revenue increased by $0.8 million, or 37%, to $2.8 million for the three months ended March 31, 2025, compared to $2.0 million for the same period in 2024.
  • Network, OEM: Revenue decreased by $2.2 million, or 63%, to $1.3 million for the three months ended March 31, 2025, compared to $3.4 million for the same period in 2024.
  • eXtend: Revenue increased by $4.3 million, or 23%, to $23.5 million for the three months ended March 31, 2025, compared to $19.2 million for the same period in 2024.
  • Ancillary: Revenue increased by $0.3 million, or 7%, to $4.7 million for the three months ended March 31, 2025, compared to $4.4 million for the same period in 2024.

Operational Metrics

  • Net Loss: Net loss was $26.2 million for the three months ended March 31, 2025, compared to $28.2 million for the same period in 2024.
  • Gross Profit: Gross profit increased by $2.5 million to $9.3 million for the three months ended March 31, 2025, compared to $6.8 million for the same period in 2024.
  • Operating Loss: Operating loss was $33.4 million for the three months ended March 31, 2025, compared to $32.4 million for the same period in 2024.

Cash Flow

  • Operating Cash Flow: Net cash used in operating activities was $10.2 million for the three months ended March 31, 2025, compared to $14.1 million for the same period in 2024.
  • Investing Cash Flow: Net cash used in investing activities was $15.0 million for the three months ended March 31, 2025, compared to $21.0 million for the same period in 2024.
  • Financing Cash Flow: Net cash provided by financing activities was $75.3 million for the three months ended March 31, 2025, compared to $1.5 million for the same period in 2024.

Unique Metrics

  • Network Throughput: Network throughput on the EVgo Public Network was 83 GWh for the three months ended March 31, 2025, compared to 52 GWh for the same period in 2024.
  • Number of DC Stalls: The number of DC stalls on the EVgo Public Network was 3.5 thousand as of March 31, 2025, compared to 3.0 thousand as of March 31, 2024.

Future Outlook and Strategy

  • Core Business Focus: EVgo plans to continue expanding its charging network and increasing throughput, with a focus on retail, commercial, and OEM charging revenue streams.
  • Non-Core Business: The company is also focusing on eXtend and ancillary revenue streams, including dedicated fleet solutions and software-driven services.
  • Priority: EVgo aims to leverage its partnerships and strategic agreements, such as the DOE Loan and Delta Charger Supply Agreement, to support its growth and infrastructure expansion.
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