- EVgo Inc (NASDAQ:EVGO) reported fourth-quarter FY21 sales growth of 70% year-on-year, to $7.1 million, beating the consensus of $6.17 million.
- EVgo's network throughput for the quarter was 8.2 Gigawatt-hours (GWh), a 95% Y/Y growth.
- Adjusted EBITDA loss was $(16.3) million versus $(8.8) million last year.
- Net loss for the quarter widened to $(46.3) million from $(15.5) million last year.
- Total customer accounts grew to 340,000 as of December 31, 2021, an increase of 47% over last year.
- EVgo held $485.2 million in cash and equivalents as of December 31, 2021.
- Outlook: EVgo sees FY22 sales of $48 million - $55 million, against the consensus of $53.59 million.
- It expects to have 3000 – 3300 DC fast charging stalls in operation or under construction by the end of 2022.
- The company sees FY22 network throughput of 50 – 60 GWh.
- Price Action: EVGO shares traded higher by 0.79% at $11.50 on the last check Wednesday.
