EVgo Q4 Revenue Jumps 75% to $118M; Full-Year Revenue Hits $384M
EVgo posted record Q4 revenue of $118M (up 75% YoY) and full-year revenue of $384M (up 50%), driven by record charging network revenue of $64M. The company achieved positive adjusted EBITDA of $24.9M in Q4 and $12.0M for 2025 and expanded its network by 1,200 stalls to 5,100.
1. Record Financial Performance
EVgo delivered a breakout quarter with Q4 revenue of $118.0 million, marking a 75% year-over-year increase, while full-year revenue climbed 50% to $384.0 million. Charging network revenue reached a record $64.0 million in Q4, and the company generated adjusted EBITDA of $24.9 million for the quarter and $12.0 million for the full year.
2. Infrastructure Expansion and Throughput Growth
During 2025 EVgo added over 1,200 charging stalls, bringing its total to 5,100 operational stalls. Network throughput rose 32% year-over-year to 99 GWh in Q4 and 366 GWh for the full year, with average daily throughput per stall reaching 292 kWh. Nearly 100 stalls were upgraded with J3400 connectors and the Autocharge+ feature initiated 30% of Q4 sessions.
3. 2026 Guidance Outlook
EVgo projects 2026 revenue between $410 million and $470 million, with adjusted EBITDA forecast between a $20 million loss and $20 million profit. Management plans further network expansion through partnerships with local retailers such as Kroger and highlighted a non-recurring ancillary contract payment of $25.9 million included in 2025 results.