EVGO
Another quarter, another growth lap
EVgo’s second quarter looked like a reminder that the EV charging business is still expanding, even if the stock market has been waiting for this story to turn into a Netflix series with a satisfying ending.
The headline number: charging network revenue hit $61 million, up 19% from a year ago. That’s not a one-off pop, either — it was EVgo’s 18th straight quarter of double-digit year-over-year charging revenue growth. If you’re looking for momentum, that’s a pretty sturdy bread crumb trail.
More cars plugged in, more dollars flowing
Throughput — basically how much electricity flowed through the network — reached 99 GWh in the quarter, up 13% year over year. In plain English: more drivers are using the network, and they’re using it more often.
That matters because EV charging is a scale game. The more sessions and energy throughput EVgo can push through its network, the better the odds that fixed costs stop being such a villain in the story.
Big picture: the EV infra bet is still on
For investors, this is the kind of update that says the core business is moving in the right direction. Revenue is climbing, network usage is climbing, and the company is still stacking growth quarters like it’s trying to beat a personal best.
Of course, the market usually wants the other shoe too: margins, profitability, and whether all this charging love eventually translates into cleaner earnings. But as far as top-line traction goes, EVgo is still keeping the plug-in party going.