Significant Revenue Growth
EVgo reported a 47% increase in revenue compared to the same quarter last year, with total revenue reaching $98 million.
Increase in Operational Efficiency
The adjusted EBITDA improved by $6 million compared to the previous year, bringing the company closer to breakeven adjusted EBITDA for the full year.
Expansion of Charging Infrastructure
The company closed a $225 million commercial bank financing deal, with potential expansion to $300 million, allowing for accelerated expansion and diversification of funding sources.
Reduction in Net CapEx Per Stall
Forecasted reduction in net CapEx per stall for 2025 vintage stalls by 28%, resulting in significantly higher returns.
Operational Milestone with NACS Cables
Initial pilot results showed significantly higher usage from Tesla drivers at sites with NACS cables, indicating potential for increased market share.