NASDAQ$EVGO
EVgo Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
EVgo reported strong Q4 2023 results, marked by significant revenue growth and network throughput increase.
EVgo Inc. reported an 83% increase in revenue, reaching $50.0 million in Q4 2023, driven by growth in charging revenues and eXtendrevenue. Network throughput also saw a substantial increase of 257% year-over-year. The company added over 110,000 new customer accounts during the quarter, bringing the total to over 884,000.
- Revenue increased by 83% year-over-year, reaching $50.0 million.
- Network throughput increased by 257% year-over-year, reaching 50 GWh.
- Over 110,000 new customer accounts were added, bringing the total to more than 884,000.
- Net loss was $36.6 million for the quarter.
Headline financials
Revenue & EPS history
EVgo · Revenue · Quarterly
$50M
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 introduced 2024 guidance with total revenue of $220 - $270 million and Adjusted EBITDA of ($48) - ($30) million.
Tailwinds
- Total revenue of $220 – $270 million
- EVgo is well positioned to continue to expand its network
- EVgo is well positioned to continue to increase revenues
- EVgo is well positioned to continue to realize operational leverage
- EVgo target Adjusted EBITDA breakeven in 2025
Headwinds
- Adjusted EBITDA of ($48) – ($30) million
- Changes or developments in the broader general market
- EVgo’s dependence on the widespread adoption of EVs and growth of the EV and EV charging markets
- Competition from existing and new competitors
- EVgo’s ability to expand into new service markets, grow its customer base and manage its operations
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 Q4 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% |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro