Shares of charging solutions provider EVgo, Inc. (EVGO) are surging more than 23% Thursday morning after reporting more than 200% growth in fourth-quarter revenue.
Revenue in the fourth quarter increased to $27.3 million from $7.1 million last year, primarily driven by retail charging, eXtend, and ancillary revenues.
The company reported a loss of $4.44 million or $0.06 per share for the fourth quarter, narrower than $12.04 million or $0.18 per share in the same quarter a year ago.
Looking forward to the full year, the company expects revenue to be in the range of $105 million - $150 million.
EVGO is at $7.12 currently. It has traded in the range of $3.64-$14.23 in the last 1 year.
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