EVgo

EVgo, Inc. engages in the provision of electric vehicle charging station services. It offers the EVgo network, home charging solutions, work charging solutions, and freedom station plans to electric car owners. The company was founded in October 2010 and is headquartered in Los Angeles, CA.

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EVgo reports record revenue in 2022, expands partnerships for growth

EVgo's strong revenue growth in 2022 and deepening partnerships position it well in the evolving EV market. While facing challenges like supply chain disruptions, the company is focused on expanding its charging network and optimizing operational efficiency for future growth.

EVgo reports stellar Q1 earnings, poised for growth in EV market

EVgo's Q1 2023 performance reflects strong revenue growth, operational progress, and strategic partnerships positioning the company for future success.
While facing challenges in network utilization fluctuations and higher CapEx, EVgo's focus on technology and partnerships presents growth opportunities in the expanding EV market.
With a reaffirmed revenue guidance, successful first quarter, and a focus on network expansion and customer experience, EVgo's strategy is showing early signs of success.

EVgo excels in Q2, eyes collaborations for EV market dominance

EVgo's strong Q2 performance and strategic initiatives position the company as a key player in the EV market, driving revenue growth and operational efficiency
Challenges in revenue diversification and profitability require careful navigation, while opportunities in collaboration and technological advancements offer avenues for sustained growth
Increased investments in growth areas and extended liquidity into 2025 demonstrate EVgo's commitment to innovation, market leadership, and long-term sustainability

EVgo reports stellar Q3 results, eyes growth through partnerships

EVgo's Q3 2023 performance showcased exceptional revenue growth and improved EBITDA, with a strong focus on network expansion and customer satisfaction.
The company's strategic partnerships, financial guidance raise, and cost-saving innovations position it well for future growth and operational efficiency.
While facing challenges in CapEx reduction and regulatory advocacy, EVgo's financial strength, market optimization, and customer-centric approach present opportunities for sustained success.
With a clear path to profitability, EVgo's focus on network utilization, financing strategies, and regulatory engagement underpin its resilience and growth prospects.

EVgo achieves record revenue in Q4 2023, targets profitability

EVgo's Q4 2023 performance reflects strong revenue growth, operational efficiency, and a path towards profitability by 2025.
The company's strengths lie in its business model, financial discipline, strategic focus, and transparent asset-level profitability calculations.
Challenges include ongoing negative EBITDA, energy cost uncertainties, competition, and balancing expansion with profitability.
Opportunities exist in margin expansion, NEVI funding, OEM/commercial charging growth, and rideshare customer adoption of EVs.

EVgo doubles revenue, eyes EBITDA breakeven in 2025

EVgo's strong Q1 performance, focus on growth drivers, and strategic initiatives position the company for success.
Challenges in transitioning to Level 3 charging and managing seasonality require careful navigation.
Opportunities from industry shifts, site acquisitions, and identified expansion sites offer avenues for growth.
Maintaining margins, improving pricing strategies, and enhancing customer experience are key focus areas for sustained growth.

EVgo reports record revenues, secures DOE loan for growth

EVgo's Q3 performance reflects strong revenue growth and operational expansion
Strategic strengths include securing DOE loan, partnerships, and CapEx reduction plans
Challenges lie in achieving profitability and navigating competitive EV market dynamics
Opportunities exist in leveraging federal funding, partnerships, and expanding customer base

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LOS ANGELES--(BUSINESS WIRE)--EVgo Inc. (Nasdaq: EVGO) (“EVgo” or the “Company”) today announced results for the third quarter ended September 30, 2023. Management will host a conference call today at 11:00 a.m. ET / 8:00 a.m. PT to discuss EVgo's results and other business highlights. Revenue increased to $35.1 million in the third quarter of 2023, compared to $10.5 million in the third quarter of 2022, representing 234% year-over-year growth. Revenue growth was primarily driven by year-over-y.

EVgo Inc. Reports Third Quarter 2023 Results

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EVGo, Blink Charging, ChargePoint stocks have plunged: buy the dip?

LOS ANGELES--(BUSINESS WIRE)--EVgo Inc. (NASDAQ: EVGO) (“EVgo” or the “Company”), one of the nation's largest public fast charging networks for electric vehicles (EVs), today announced it is using an innovative prefabrication approach to new station installation that is anticipated to cut average station installation time in half and save an average of 15% in station construction costs at eligible sites. With a scalable design that starts at six fast charging stalls—supporting EVgo's focus on e.

EVgo's Prefabricated Charging Infrastructure Deployment Model Expected to Cut Installation Timelines by 50% on Average

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ChargePoint is boosting production of Tesla-compatible charging stations. This week, Tesla made a major sale of its charging hardware to a third party for the first time, which is bad news for pure-play charging station suppliers.

Why ChargePoint, EVgo, and Polestar Stocks All Plunged This Week

EVgo (NASDAQ: EVGO ) stock is falling on Wednesday after the maker of chargers for electric vehicles (EVs) was hit with a downgrade by TD Cowen. That downgrade has the firm's analysts dropping EVGO stock from an “outperform” rating to a “market perform” rating.

EVGO Stock Slips as TD Cowen Downgrades EVgo

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As a complement to the fast growing electric vehicle (EV) market, the EV charging market is also experiencing substantial growth. All of which should help fuel further upside for EV charging stocks.

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LOS ANGELES--(BUSINESS WIRE)--EVgo Inc. (Nasdaq: EVGO), (“EVgo” or the “Company”), one of the nation's largest public fast charging networks for electric vehicles (EVs), today announced that it will release its third quarter 2023 financial results on Wednesday, November 8, 2023. This release will be followed by a webcast hosted by members of the EVgo management team at 8:00 a.m. PT (11:00 a.m. ET). EVgo Third Quarter 2023 Webcast When: Wednesday, November 8, 2023 Time: 8:00 a.m. PT (11:00 a.m.

EVgo to Report Third Quarter 2023 Results on November 8, 2023

LOS ANGELES--(BUSINESS WIRE)--EVgo Inc. (NASDAQ: EVGO) (“EVgo” or the “Company”), one of the nation's largest public fast charging networks for electric vehicles (EVs), today announced it has been selected for more than $12.7 million in preliminary awards from a variety of funding sources across California, Colorado, and Pennsylvania, including utilities, air districts, state energy offices, and state departments of transportation via the National Electric Vehicle Infrastructure (NEVI) formula.

From Coast to Coast, EVgo and eXtend Partners Receive More Than $12.7M in Funding to Expand Fast Charging Infrastructure

LOS ANGELES--(BUSINESS WIRE)--EVgo Inc. (NASDAQ: EVGO) (“EVgo” or the “Company”), one of the nation's largest public fast charging networks for electric vehicles (EVs), today announced a new collaboration with American Honda Motor Co., Inc. that is designed to provide a range of new benefits for Honda and Acura EV drivers, including charging credit, technology integration into the HondaLink and Acura EV apps, and access to EVgo's nationwide network and its roaming partners. Drivers of qualifyin.

EVgo and Honda Partner to Provide EV Drivers with Direct Access to Public Fast Charging

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If the U.S. wants more than 50% of all cars on the roads to be electric by 2030, we need to have far more charging stations.  Right now, according to Blink Charging (NASDAQ: BLNK ), we have just under 130,000 electric vehicle (EV) charging ports at 50,401 charging stations set up in the U.S.  That's not nearly enough, especially if the Biden Administration is hoping for further EV adoption.

Don't Miss the Boom: 3 EV Charging Stocks Set to Explode Higher

LOS ANGELES--(BUSINESS WIRE)--EVgo Inc. (NASDAQ: EVGO) (“EVgo” or the “Company”), one of the nation's largest public fast charging networks for electric vehicles (EVs), today announced significant progress in network enhancements made through EVgo ReNew™, its comprehensive maintenance program focused on bolstering reliability and elevating the customer experience. The ReNew program consists of six pillars that outline the Company's approach to reliability: Resilience, Prevention, Diagnostics, R.

EVgo Advances Network Enhancements through EVgo ReNew™ Program, Releases Best Practices to Promote Greater Industry-wide Charger Reliability

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There's a groundswell forming to expand and improve the U.S. charging landscape for EVs, but experts agree there's a long road ahead.

EV charging needs big improvements soon if the auto industry's transition is going to work

EVgo is well-positioned to benefit from the electrification wave in the U.S. with its comprehensive portfolio of EV charging offerings. But the strategy's capital-intensive nature remains a burden on its profit profile and, inadvertently, valuation prospects. The recent development on EVgo's prospects in front-running NEVI funding realization is expected to be a near-term respite for its ROI formula and should serve the stock well.

EVgo: Don't Blink On NEVI

EVgo, Inc. continues to struggle towards profitability despite growing EV demand. Current charging stations have low utilization rates, with 70% of DCFC stations being utilized less than 15% of the time. EVgo reported record revenues in Q2, but the majority of the growth came from pass-through equipment costs, and the company still reported a significant adjusted EBITDA loss.

EVgo: Low Utilization Problems

EV charging stocks have not participated in the year-to-date broad market rally. The reason is intensifying competition and sustained cash burn.

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EVGO receives the first-ever delivery of 350kW fast chargers, manufactured as per BABA standards, from Delta Electronics.

EVGO Receives First Shipment of BABA-Compliant Chargers

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EVgo Inc. EVGO, -3.34% stock was up 1.4% in premarket trades Monday after the electric vehicle charging company said it has received ten 350kW fast chargers from Delta Electronics from Delta's recently-opened factory in Plano, Texas. The chargers were made under the U.S.'s Build America, Buy America Act (BABA) program and mark the first shipment “in developing the robust domestic supply chain needed to support the rapid growth in EV adoption” in the U.S., the company said.

EVgo stock ticks up as it receives domestically-made chargers from Delta Electronics

LOS ANGELES--(BUSINESS WIRE)--EVgo Inc. (NASDAQ: EVGO) (“EVgo” or the “Company”), one of the nation's largest public fast charging networks for electric vehicles (EVs), today announced that it received the first-ever shipment of 350kW fast chargers from Delta Electronics that are manufactured according to Build America, Buy America Act (BABA) standards. Delivered from Delta Electronics' recently opened factory in Plano, Texas, this first shipment marks a milestone in developing the robust domes.

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