EVgo Reports Record Revenue and Customer Growth in Q1 2025

Published 20 hours agoEVGO

EVgo Reports Record Revenue and Customer Growth in Q1 2025

EVgo Inc. (Nasdaq: EVGO) has announced impressive financial results for the first quarter of 2025, sparking a significant rise in its stock performance. The company achieved a record $55.2 million in revenue, a 118% increase compared to the same period last year, according to a report by Businesswire. Additionally, EVgo's network throughput hit 53 gigawatt-hours, a remarkable 194% climb from the previous year. The company also saw substantial customer growth, adding approximately 109,000 new accounts, raising its total to over 981,000 accounts, up 60% year-over-year.

Beyond financial performance, EVgo marked considerable operational growth by installing around 250 new operational stalls, including the EVgo eXtend™ stalls, bringing the total number of stalls in operation or under construction to about 3,780. On the strategic front, EVgo expanded its agreement with Chevron, becoming the preferred EV charging provider for Chevron and Texaco stations. Another innovative move included partnering with Audible to offer EVgo customers trial audiobook and podcast memberships, enhancing the overall charging experience.

These developments reflect EVgo's ongoing efforts to solidify its market presence and expand its electric vehicle charging infrastructure across the US. The company remains committed to expanding partnerships and enhancing customer experiences as it continues to grow in a rapidly evolving industry.

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