EVgo (EVGO) shares surged over 8% Wednesday 𝓰after the provider of electric vehicle (EV) charging stations posted better-than-expected results as sales soared.

The company reported a fourth-quarter loss of 12 cents a share, less than 澳洲幸运5官方开奖结果体彩网:analysts anticipated. Revenue rose 83% from the year-ago period to $50 million, also above forecasts. Total charging network revenue more than tripled to $28.34 million.

EVgo said that its network 澳洲幸运5官方开奖结果体彩网:throughput hit a record 50 gigawatt𝓀 hours, more than triplinౠg from the year-ago quarter. It added more than 260 DC fast charging stalls in the period, and ended 2023 with 2,990 stalls in operation.

CEO Badar Khan said the company “passed an important inflection point” in 2023 as its installed base is now 澳洲幸运5官方开奖结果体彩网:profitable on a standalone basis.

EVgo said it anticipates full-year 2024 sales of $220 mill൩ion to $270 million, up from $161 million in revenue for 2023.

Shares of EVgo finished 8.6% higher Wednesday at $3.02. However, even with Wednesday’s gains, EVgo💟 shares have lost more than half their value overᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚ the past year.