EVgo Inc. (NASDAQ:EVGO) reported stronger-than-expected fourth-quarter results on Tuesday, sending shares up more than 2% as revenue growth outpaced Wall Street forecasts.
The electric vehicle charging network operator posted adjusted earnings per share of -$0.04, beating the consensus estimate of -$0.09. Revenue jumped 75% year over year to $118.5 million, well ahead of analyst expectations of $101.29 million and up from $67.5 million in the fourth quarter of 2024.
The company said charging network revenue reached a record $64 million in the quarter, representing a 37% increase from a year earlier and marking its 16th consecutive quarter of double-digit year-over-year growth in charging revenue.
Network throughput totaled 99 gigawatt-hours, up 18% year over year. Results were boosted in part by a one-time ancillary contract closeout payment of $25.9 million.
Looking ahead, EVgo forecast fiscal 2026 revenue of $410 million to $470 million, with a midpoint of $440 million below the analyst consensus of $477.6 million. The company expects adjusted EBITDA in a range of -$20 million to $20 million for the year.
“In 2025, EVgo established its position as one of the leading and fastest growing public charging network operators in the U.S.,” said Badar Khan, EVgo’s CEO. “We also achieved our goal of delivering positive Adjusted EBITDA for both the fourth quarter and full year 2025 – an important milestone for the Company.”
During the fourth quarter, EVgo added more than 500 new operational stalls, bringing its total to 5,100—an increase of 25% compared with a year earlier.
For full-year 2025, revenue rose 50% to $384 million. Charging network revenue reached $218 million for the year, up 40% year over year, reflecting continued expansion and rising utilization across its network.