Filing Flows › EVgo (EVGO) › Q4 2025
EVgo (EVGO) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 9, 2026
EVgo (EVGO) reported revenue of $118M for the fourth quarter 2025 (Q4 2025), +75% from a year earlier and +28% from the quarter before. Operating margin was -10.4%, net loss $11.0M (9.3% of revenue).
EVgo, Q4 2025: revenue $118M (+76% year over year), operating margin -10.4%, net loss $11.0M, operating cash flow $11.3M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $118M | +28% | +75% |
| Operating profit | −$12.4M | — | — |
| Net earnings | −$11.0M | — | — |
| Operating cash flow | $11.3M | — | — |
What changed
Revenue was $118.5M in Q4 2025, up 75% year over year and up 28% from the previous quarter. Charging, retail was the largest line at 30% of revenue.
Gross margin was 38.0%, up 23.5 points from Q4 2024. Operating costs exceeded revenue by $12.4M, an operating margin of -10.4%. Operating expenses grew 28% against revenue growth of 75%. The quarter ended with a net loss of $11.0M, narrower than the previous quarter's $28.4M loss. Minority interests bore $6.2M of it: to shareholders the quarter was a loss of $4.8M.
Operating cash flow was $11.3M. Non-cash charges added back $18.3M of depreciation and amortization and $7.6M of share-based compensation. Working capital and other items used $3.6M. Capital expenditures of $49.4M exceeded it, leaving free cash flow of −$38.1M.
Questions
What was EVgo's revenue in the fourth quarter 2025?
EVgo (EVGO) reported revenue of $118M for the fourth quarter 2025 (Q4 2025), +75% from a year earlier and +28% from the quarter before.
Was EVgo profitable in the fourth quarter 2025?
Operating loss was $12.4M (-10.4% of revenue) and net loss $11.0M.
Source: EVgo 10-K on SEC EDGAR.