How High-Speed Charging, Pull-Thrus, & Smart Partnerships Are Supercharging EVgo’s Success

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I don’t typically spend my time digging through dense corporate financial reports. I’d much rather be out on the road, putting miles on my Silverado EV LT and seeing how the charging network holds up in the real world. But when EVgo dropped its Q4 and full-year 2025 earnings release this morning, I had to take a look. Hiding behind all the accounting jargon is a story I’ve been pointing out for a couple of years now: building high-speed infrastructure, leaning into the right tech, and teaming up with the right partners is a winning recipe.

The Partnership Engine Is Firing On All Cylinders

If you’ve read my past coverage, you know I’ve been heavily impressed by EVgo’s partnerships with Pilot and Flying J truck stops. Pull-thru charging (at many but not all sites) is a big one, but other things like access to great amenities for travelers makes a big difference. And, last but definitely not least, reliable stalls makes it a repeatable experience.

It turns out that strategy is paying off big time on their balance sheet. EVgo isn’t just building its own standalone stations; it is leaning hard into its “eXtend” model, where partners own the hardware and EVgo operates it. By the end of 2025, EVgo eXtend stalls had exploded to 1,070, which is a massive 106% increase from the year before.

Overall, they added over 1,200 operational stalls in 2025, bringing their grand total to 5,100 across the network. And they aren’t stopping there. EVgo specifically noted that they are focusing on expanding to local retailers including Kroger in 2026.

The Tech Horse Race: Beating Tesla On Quality

Let’s get into the industry horse race for a second. We all know Tesla has the sheer quantity of chargers, and as Stalin supposedly said, quantity has a quality all its own. But, when it comes to technology and charging quality, EVgo is actually pulling ahead in some crucial ways. Right now, EVgo is sitting comfortably as the number two player in the nation for 350+ kW ultra-fast charging. While Tesla is still largely relying on 250 kW V3 Superchargers and slowly rolling out their V4 hardware, EVgo has been aggressively blanketing the country with 350 kW infrastructure.

They are also future-proofing the network by rolling out the Tesla-style NACS (J3400) connectors, which were in operation at nearly 100 stalls by the end of 2025.

Autocharge+ & The Unsung Hero: The Pull-Thru Stall

First, some hard numbers: Higher speeds are translating directly into higher demand, with network throughput jumping 32% to 366 gigawatt-hours for the year. On a daily basis, the average daily throughput per stall increased by 9% to 292 kilowatt-hours per day in the fourth quarter of 2025.

Why are people using them more? Part of it is the seamless tech. Autocharge+ accounted for 30% of total charging sessions initiated in the fourth quarter. I’ve tested Autocharge+ several times myself, and it is fantastic if your vehicle supports it. You just plug in and walk away, no swiping or app-fumbling required. It bridges the convenience gap that Tesla drivers have enjoyed for years.

Then there is the hardware layout. The press release didn’t explicitly mention this, but a massive part of their real-world success is the physical footprint of their newer partnership locations. When you build big stations at truck stops, you get pull-through stalls. I’ve written before about how easy real-world RV towing is with my Bolt EUV when you don’t have to unhook your travel trailer to charge. When I head out on my Route 66: The Second Century Begins run from LA to Chicago this April, I’ll be actively seeking these exact stations out. It’s an absolute game-changer for anyone hauling gear or living a nomadic lifestyle, and drivers are clearly voting with their wallets by prioritizing these locations.

The Financial Reality Check: Getting Out Of The Red

Now, let’s talk money in plain English. For the fourth quarter of 2025, EVgo reported $118 million in total revenue, a whopping 75% increase from the year prior. For the full year, they brought in $384 million. Those are some great numbers to see.

They also hit a big milestone: positive “Adjusted EBITDA” for both Q4 and the full year. In simple terms, Adjusted EBITDA is a way companies measure the cash they make from their core, everyday operations, before things like taxes, interest, and big one-time accounting write-offs are factored in. Hitting a positive number here means their day-to-day business of selling electricity is finally generating more cash than it burns.

But, as a journalist, I have to say this: always read the fine print! That Q4 profit was heavily padded by a non-recurring ancillary contract closeout payment for $25.9 million. Without that single lump sum, their operational profits would have been hovering right around break-even. Again, it’s a one-time payment, so you can’t expect that to happen again.

Furthermore, “Adjusted EBITDA” isn’t the final bottom line. When you look at their overall GAAP (normal accounting like we all use at home) net loss (which includes absolutely every expense on the books) EVgo still lost $95.4 million in 2025. The good news? That’s a 25% improvement from the $126.7 million they lost in 2024. The bleeding is slowing down, and the company has a real shot at getting into the real black.

Final Thoughts: Time To Give EVgo’s Partnership A Real Stress Test

While they aren’t completely in the black just yet, their aggressive push into ultra-fast charging, seamless tech like Autocharge+, and smart location partnerships proves they are on the right road.

That having been said, I’ve only really tested EVgo’s truck stop stations with my Bolt EUV. This gave me an opportunity to test Autocharge+, the stall layout, and the amenities, but I only asked for 55 kilowatts. Charging my car was a breeze.

In about a month, that’s going to change! Instead of towing a little Harbor Freight trailer, I’m going to be taking my 5700-lb travel trailer along, and my tow vehicle is going to be a Silverado EV. While I don’t have the biggest battery option with over 200 kWh that pulls over 350 kW, my LT is still going to pull some real power (over 300 kW) for a lot longer than most vehicles as it charges the 170 kWh pack.

My plan is to hit dozens of EVgo partner stations all along Route 66 and then on to the next coast. If you want to see how that goes, put your e-mail in on my website or follow me on Bluesky.

Featured image: My Bolt EUV with a trailer at an EVgo Flying J charging station. Image by Jennifer Sensiba.