24/7 Market News Snapshot 06 May, 2025 – EVgo Inc. Class A Common Stock (NASDAQ:EVGO)
DENVER, Colo., 06 May, 2025 (www.247marketnews.com) – (NASDAQ:EVGO) are discussed in this article.
EVgo Inc. has experienced a significant surge in its Class A Common Stock, opening at $2.77 and rising to $3.439, marking an impressive increase of 24.15%. This growth comes amid heightened trading activity, with a volume of 2.55 million shares exchanged. Yesterday’s closing price of $2.770 illustrates the remarkable momentum and rising investor confidence in EVgo’s position in the electric vehicle market.
In conjunction with this stock performance, EVgo has reported impressive financial results for the first quarter of 2025. The company achieved record revenues of $75.3 million, reflecting a 36% increase from the previous year’s figures. This success underscores the company’s commitment to expanding its fast-charging infrastructure. CEO Badar Khan emphasized the importance of this growth, stating, “Our strong balance sheet and owner-operator model uniquely position us to meet the increasing demand for electric vehicle charging solutions.”
Notable advances during the quarter included a co-development agreement with Delta Electronics aimed at enhancing next-generation charging architecture, which seeks to improve both customer experience and system reliability. Furthermore, EVgo’s first pilot site featuring native North American Charging Standard (NACS) connectors was introduced, enhancing accessibility for electric vehicle drivers.
Operationally, EVgo has also reported a remarkable increase in average daily network throughput, now at 266 kilowatt hours per stall—a 36% year-over-year boost. The company added over 180 new DC fast charging stalls, totaling 4,240 across its network, demonstrating significant expansion. Moreover, adoption of the Autocharge+ system grew, comprising 27% of all charging sessions.
With a $1.25 billion loan guarantee from the U.S. Department of Energy and initial advances of $94 million secured for infrastructure development, EVgo projects total revenues between $340 to $380 million for 2025 and aims for Adjusted EBITDA breakeven within the year, highlighting its strong strategic focus in the evolving electric charging landscape.