Filing Flows › EVgo (EVGO) › Q1 2025
EVgo (EVGO) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 6, 2025
EVgo (EVGO) reported revenue of $75.3M for the first quarter 2025 (Q1 2025), +36% from a year earlier and +12% from the quarter before. Operating margin was -44.4%, net loss $26.2M (34.8% of revenue).
EVgo, Q1 2025: revenue $75.3M (+36% year over year), operating margin -44.4%, net loss $26.2M, operating cash flow −$10.2M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $75.3M | +12% | +36% |
| Operating profit | −$33.4M | — | — |
| Net earnings | −$26.2M | — | — |
| Operating cash flow | −$10.2M | — | — |
What changed
Revenue was $75.3M in Q1 2025, up 36% year over year and up 12% from the previous quarter. Charging, retail was the largest line at 40% of revenue. Charging, retail added $11.7M year over year (up 64%), 58% of the total change. Network, OEM declined 63%.
Gross margin was 12.4%, unchanged from a year earlier. Operating costs exceeded revenue by $33.4M, an operating margin of -44.4%. Operating expenses grew 9% against revenue growth of 36%. The fastest-growing cost line was SG&A (+13%). The quarter ended with a net loss of $26.2M, narrower than the previous quarter's $35.6M loss. Minority interests bore $14.9M of it: to shareholders the quarter was a loss of $11.4M. Non-operating items added $7.3M, -28% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$10.2M. Non-cash charges added back $20.1M of depreciation and amortization and $5.5M of share-based compensation. Working capital and other items used $9.6M. Capital expenditures of $15.0M exceeded it, leaving free cash flow of −$25.2M.
Questions
What was EVgo's revenue in the first quarter 2025?
EVgo (EVGO) reported revenue of $75.3M for the first quarter 2025 (Q1 2025), +36% from a year earlier and +12% from the quarter before.
Was EVgo profitable in the first quarter 2025?
Operating loss was $33.4M (-44.4% of revenue) and net loss $26.2M.
Source: EVgo 10-Q on SEC EDGAR.