EVgo (EVGO) Q4 Revenue Tops Consenus, Offers Guidance
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EVgo Inc. Reports Fourth Quarter and Full-Year 2021 Results
March 23, 2022 7:00 AM EDT2021 Revenue increased by 52% year-over-year Network throughput in 2021 rose to 26.4 Gigawatt-hours (GWh), a 68% increase over prior year GAAP gross loss narrowed in 2021 to ($6.8) million from ($9.0) million in 2020 Adjusted gross profit grew to $5.2 million for full-year 2021 compared to $0.5 million in 2020, and adjusted gross margin grew from 3% in 2020 to 23% in 2021, demonstrating operating leverage in the model from increasing vehicles in operation and throughput Ended year with approximately 340,000 customer accounts, marking an approximate 109,000 year-over-year increase, equating to approximately 80% of non-Tesla US EV sales Active Engineering and Construction pipeline increased to more than 3,100 fast... More
