- EVgo Inc (NASDAQ:EVGO) reported second-quarter FY22 sales growth of 90% year-on-year to $9.08 million, missing the consensus of $10.81 million.
- EVgo’s network throughput for the quarter was 10.1 Gigawatt-hours (GWh), a 66% Y/Y growth.
- Adjusted EBITDA loss was $(19.8) million versus $(11) million last year.
- Gross loss for the quarter narrowed to $(0.7) million from $(1.7) million last year.
- Total customer accounts totaled 444,000 as of June 30, 2022, adding 67,000 new customers during the quarter.
- EVgo held $372.5 million in cash and equivalents as of June 30, 2022.
- EPS of $0.06 beat the consensus of $(0.17).
- Outlook: EVgo affirmed the FY22 sales forecast of $48 million – $55 million, against the consensus of $50 million.
- It expects an FY22 adjusted EBITDA loss of $(75) million – $(85) million.
- The company sees FY22 network throughput of 50 – 60 GWh.
- At year-end 2022, EVgo expects to have a total of 3,000 – 3,300 DC fast charging stalls operational or under construction.
- Price Action: EVGO shares traded lower by 7.20% at $9.02 on the last check Tuesday.
Icon Technologies Limited Selects 3D Systems’ EXT Titan Pellet To Accelerate Thermoforming Mold Production
Icon selects EXT 1270 Titan Pellet 3D printer with spindle tool head to significantly reduce lead time, cost associated with mold productionIcon is first manufacturer in Canada to integrate an EXT 1270 Titan Pellet 3D
