EVgo Reports Record Q4 & Full-Year 2025 Results, Achieves Positive Adjusted EBITDA, and Issues Strong 2026 Guidance
Summary
EVgo reported record Q4 and full-year 2025 revenues, achieved positive Adjusted EBITDA for both periods, and provided optimistic 2026 guidance, demonstrating strong operational performance and network expansion.
Key Events
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Record Revenue Growth
Total revenue for Q4 2025 increased 75% year-over-year to $118 million, with full-year 2025 revenue up 50% to $384 million.
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Achieved Positive Adjusted EBITDA
The company reported positive Adjusted EBITDA of $24.9 million for Q4 2025 and $12.0 million for the full year 2025, a significant operational milestone, though aided by a non-recurring payment.
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Strong 2026 Guidance Issued
EVgo initiated 2026 guidance projecting total revenue of $410-$470 million and Adjusted EBITDA of $(20)-$20 million.
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Significant Network Expansion
EVgo expanded its charging network by adding over 1,200 operational stalls in 2025, ending the year with 5,100 stalls in operation.
Analysis
EVgo Inc. reported strong financial results for the fourth quarter and full-year 2025, marked by significant revenue growth and a pivotal achievement of positive Adjusted EBITDA. Total revenue for Q4 2025 surged 75% year-over-year to $118 million, contributing to a full-year revenue of $384 million, a 50% increase from 2024. The company reached a key operational milestone by achieving positive Adjusted EBITDA of $24.9 million for Q4 2025 and $12.0 million for the full year 2025. It is important to note that these figures include a non-recurring ancillary contract closeout payment of $25.9 million in Q4 and $24.1 million for the full year. EVgo also significantly expanded its charging network, adding over 1,200 operational stalls in 2025 to reach a total of 5,100 stalls. Looking ahead, the company initiated 2026 guidance projecting total revenue between $410 million and $470 million and Adjusted EBITDA between $(20) million and $20 million, signaling continued growth and a potential path to sustained profitability.
At the time of this filing, EVGO was trading at $2.98 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $871.6M. The 52-week trading range was $2.20 to $5.18. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.