EVgo, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 08, 2023 at 07:15 am
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EVgo, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 35.11 million compared to USD 10.51 million a year ago. Net loss was USD 9.72 million compared to USD 13.22 million a year ago. Basic loss per share from continuing operations was USD 0.09 compared to USD 0.19 a year ago.
For the nine months, sales was USD 110.96 million compared to USD 27.29 million a year ago. Net loss was USD 29.82 million compared to USD 23.14 million a year ago. Basic loss per share from continuing operations was USD 0.34 compared to USD 0.33 a year ago.
EVgo Inc. provides electric vehicle charging solutions. The Company is engaged in building and operating the infrastructure and tools to serve electric vehicles for individual drivers, rideshare and commercial fleets, and businesses. It has public fast charging networks, featuring over 950 fast charging locations across more than 35 states, including stations built through EVgo eXtend, its white label service offering. It provides transportation electrification through partnerships with automakers, fleet and rideshare operators, retail hosts such as grocery stores, shopping centers, and gas stations, policy leaders, and other organizations. Through its network and service offerings for drivers and partners including EVgo Optima, EVgo Inside, EVgo Rewards, and Autocharge+, it provides charging services. The Company is focused on building ultra-fast chargers. In addition to the provision of EV charging infrastructure, it develops and deploys software-based and value-added services.