NASDAQ$EVGO
EVgo Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
EVgo's first quarter results for 2023 were announced, featuring revenue growth and increased network throughput.
EVgo Inc. reported a strong first quarter in 2023, with revenue reaching $25.3 million, a 229% increase year-over-year, and network throughput increasing by 124% to 17.9 GWh. The company added 67,000 new customer accounts, bringing the total to 614,000. EVgo is also expanding its partnerships with Chevron and Audible.
- Revenue increased by 229% year-over-year, reaching $25.3 million.
- Network throughput grew by 124% year-over-year to 17.9 GWh.
- Approximately 67,000 new customer accounts were added, totaling approximately 614,000.
- Approximately 3,100 stalls are in operation or under construction with nearly 220 new stalls added to the EVgo network during the quarter.
Headline financials
Revenue & EPS history
EVgo · Revenue · Quarterly
$25.3M
Revenue by segment
EVgo · $25.3M total across 7 segments · Q1 2023
- eXtend$10.3M—40.7%
- Charging Retail$6.62M—26.1%
- Network OEM$2.7M—10.7%
- Ancillary$2.21M—8.7%
- Charging Commercial$1.72M—6.8%
- Regulatory Credit Sales$1.22M—4.8%
- Charging OEM$552K—2.2%
Forward guidance
EVgo is affirming 2023 guidance as follows: Total revenue of $105 – $150 million and Adjusted EBITDA of ($78) – ($60) million. Additionally, at year-end 2023, EVgo expects to have a total of 3,400 – 4,000 DC fast charging stalls in operation or under construction.
Tailwinds
- Total revenue of $105 – $150 million
- Adjusted EBITDA of ($78) – ($60) million
- 3,400 – 4,000 DC fast charging stalls in operation or under construction by year-end 2023
- EVgo and Chevron entered into a new agreement to offer Chevron locations across the U.S. a turnkey DC fast charging solution with a variety of ownership models, including EVgo eXtend.
- EVgo entered into a new agreement with Audible to bring trial memberships to EVgo customers later in 2023.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
+7.0%
Avg return
Earnings day
+2.5%
Avg return
5 days after
-0.1%
Avg return
30 days after
60%
12 / 20 earnings
Positive
+35.5%
Q4 2022
Best reaction
-12.1%
Q1 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.3% | -8.4% | +16.3% | |
| Q4 2025 | -5.3% | -21.9% | -39.6% | |
| Q3 2025 | +0.6% | -14.0% | +0.9% | |
| Q1 2025 | +32.5% | +32.1% | +37.2% | |
| Q4 2024 | +1.6% | +5.7% | +4.5% | |
| Q3 2024 | -3.7% | -6.3% | +15.2% | |
| Q2 2024 | -1.8% | -4.9% | +18.0% | |
| Q1 2024 | -12.1% | -6.5% | +7.0% | |
| Q4 2023 | +0.0% | -1.4% | -23.0% | |
| Q3 2023 | +16.5% | +20.0% | +32.2% | |
| Q2 2023 | +18.3% | +10.1% | -6.7% | |
| Q1 2023 | -7.3% | -11.2% | -32.5% | |
| Q4 2022 | +35.5% | +24.6% | +4.2% | |
| Q3 2022 | -3.1% | -3.9% | -17.1% | |
| Q2 2022 | +9.2% | +20.6% | -5.9% | |
| Q1 2022 | +11.7% | +11.6% | +13.9% | |
| Q4 2021 | +14.5% | +5.4% | -12.6% | |
| Q3 2021 | +29.9% | +9.4% | -16.8% | |
| Q2 2021 | +2.8% | -10.6% | -21.0% | |
| Q1 2021 | +2.1% | -1.0% | +24.7% |
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