Welcome to our dedicated page for EVgo news (Ticker: $EVGO), a resource for investors and traders seeking the latest updates and insights on EVgo stock.
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EVgo Inc. reported record first quarter 2024 results with revenue reaching $55.2 million, a 118% increase year-over-year. The network throughput reached 53 GWh, up by 194% year-over-year. The company added 250 new operational stalls, totaling approximately 3,780 stalls in operation or under construction. EVgo also added nearly 109,000 new customer accounts, reaching over 981,000 overall. The company's business model of owning and operating a fast-charging network is driving growth, with plans to achieve adjusted EBITDA breakeven in 2025.
EVgo Inc. (NASDAQ: EVGO) won the 1st Place Leadership Award for Level 3 Electric Vehicle Charging from the Los Angeles Department of Water & Power (LADWP) for its DC fast charging expansion in Los Angeles. The company's network grew by 90% in the metro area, showcasing its commitment to supporting California's climate goals.