EVgo Reports 50% Revenue Growth to $384.1 Million, Net Loss Improves to $95.4 Million

EVgo Inc. (EVGO), a leading public EV fast charging provider, released its 10-K filing, detailing its financial performance and strategic developments. The company reported a total revenue of $384.1 million for the year ended December 31, 2025, a 50% increase compared to $256.8 million in the previous year. This growth was primarily driven by increases in retail charging revenue, ancillary revenue, eXtend revenue, OEM charging revenue, and commercial charging revenue. Despite the revenue growth, EVgo reported a net loss of $95.4 million, which is an improvement of $31.3 million compared to the net loss of $126.7 million in 2024.

The company's strategic focus remains on expanding its charging network and enhancing customer experience. As of December 31, 2025, EVgo's public network included approximately 3,900 DC fast charging stalls at over 1,200 locations across 47 states. The company is actively engaged in partnerships with OEMs, site hosts, and fleet operators to support domestic investment in transportation electrification. EVgo also owns PlugShare, a platform for EV drivers to locate charging stations and share information. A key operational development was the ongoing integration of NACS connectors across the EVgo Public Network to support the transition to NACS.

Operationally, network throughput on the EVgo Public Network reached 366 GWh for the year ended December 31, 2025. The number of DC stalls on the EVgo Public Network increased to approximately 3,900. The company also highlighted its ReNew program, focused on prevention, diagnostics, rapid response, analysis, resilience, and continuous customer service to enhance operating practices. Employee headcount stood at 376 full-time employees as of December 31, 2025.

Looking ahead, EVgo's strategy includes identifying optimal charging sites, developing charging sites, procuring charging equipment, operating charging sites, leveraging stakeholders within the EV ecosystem, and offering technology-enabled products and services. The company is also focused on disciplined capital allocation and public policy engagement. EVgo anticipates that the DOE Loan and the Credit Agreement will be crucial for the growth of its business, and the company is committed to complying with the covenants and other terms of these agreements. However, the company acknowledges risks related to the EV market, competition, technology, intellectual property, and regulatory changes that could impact its future performance.