EVgo 2025 Q2 Earnings Revenue Surges 47.2% Despite Continued Net Loss

EVgo reported its fiscal 2025 Q2 earnings on Aug 05th, 2025, with total revenue rising 47.2% year-over-year, outpacing expectations. The company maintained its negative EPS and expanded its net loss, but management highlighted improved adjusted EBITDA and a strategic capital plan as key differentiators. No formal guidance adjustment was provided in the earnings release.

Revenue
EVgo’s total revenue rose to $98.03 million in the second quarter of 2025, marking a 47.2% increase compared to the same period in 2024. The eXtend segment emerged as a strong performer, contributing $37.38 million, while Charging, retail brought in $32.78 million. Commercial and OEM charging segments added $8.57 million and $7.91 million, respectively. Regulatory credit sales totaled $2.45 million, and Ancillary services generated $8.82 million. Network, OEM contributed the smallest segment at $118,000. These figures reflect a diversified but still capital-intensive revenue model.

Earnings/Net Income
EVgo maintained an EPS of $-0.10 for 2025 Q2, consistent with the prior year. However, the net loss widened to $29.82 million, a 0.7% increase from $29.61 million in 2024 Q2. Despite a 47% revenue boost, the company remains in a net loss position for the fourth consecutive year, highlighting persistent financial challenges. This performance indicates continued pressure to convert top-line growth into profitability.

Price Action
The stock price of EVgo experienced a decline of 10.73% during the latest trading day, though it gained 7.33% during the most recent full trading week and 3.39% month-to-date. This mixed performance reflects investor sentiment in the face of strong revenue results but ongoing net losses.

Post-Earnings Price Action Review
A strategy of buying EVGO shares immediately following the earnings report and holding for 30 days resulted in a -63.21% return, significantly underperforming the benchmark's 48.58%. The approach yielded a CAGR of -29.19%, with a Sharpe ratio of -0.33, signaling a high-risk, low-reward profile. Despite a revenue increase, the stock reaction suggested investor skepticism about the company’s path to profitability, with no significant drawdown recorded during the period.

CEO Commentary
Badar Khan, CEO & Director, highlighted a 47% year-over-year revenue increase and a $6 million improvement in adjusted EBITDA as operational milestones. He emphasized the strategic significance of the $225 million commercial bank facility, which enables more capital-efficient expansion and diversified funding. Khan also noted a 28% reduction in 2025 net CapEx per stall, which is expected to enhance returns. The CEO expressed optimism about the company’s position in the DC fast charging market, driven by EV growth outpacing infrastructure. Strategic priorities include customer experience improvements, AI-driven marketing, and NACS cable deployment to attract Tesla drivers. Khan outlined an ambitious goal to scale public stalls to approximately 14,000 by 2029 and achieve breakeven adjusted EBITDA for 2025.

Guidance
EVgo expects 2025 revenue to range between $350–380 million, with 800–850 new public/dedicated stalls and 475–525 eXtend stalls added. Full-year adjusted EBITDA is projected at -$5 million to +$10 million, with Q4 expected to turn positive. CapEx is targeted at $140–160 million, reflecting efficiency gains and the use of state grants. By 2029, the company anticipates 14,000 public stalls, generating $380–570 million in adjusted EBITDA.

Additional News
In the three weeks following its Aug 5th earnings report, EVgo announced a partnership with two major automakers to integrate its charging solutions into upcoming EV models, signaling stronger OEM collaboration. Additionally, the company appointed a new Chief Marketing Officer to lead AI-driven customer engagement strategies. EVgo also confirmed it had secured $50 million in state grants to support its 2025 expansion plans, reinforcing its capital structure and reducing reliance on private investment. These moves underscore a broader focus on growth, technology, and public-private partnerships to strengthen market position.