EVgo Announces Chief Financial Officer Transition
Rhea-AI Summary
EVgo (NASDAQ: EVGO) named Keefer Lehner as Chief Financial Officer, effective January 12, 2026, with outgoing CFO Paul Dobson retiring and staying on in an advisory role through March 2026.
The company reiterated its 2025 financial guidance: baseline total revenue of $350–$365 million with ancillary upside up to $40 million (total up to $405 million), and baseline Adjusted EBITDA of $(15)–$(8) million with ancillary upside up to $31 million (range $(15)–$23 million). The release notes a timing/amount uncertainty for the ancillary upside and that a reconciliation of projected Adjusted EBITDA to GAAP net income is not provided.
Positive
- CFO appointment effective Jan 12, 2026
- 2025 baseline revenue guidance of $350–$365M
- Upside potential increasing 2025 revenue up to $405M
- Ancillary upside could add up to $31M to Adjusted EBITDA
Negative
- 2025 baseline Adjusted EBITDA remains a loss of $(15)–$(8)M
- Ancillary upside timing and amount are uncertain
- No reconciliation provided from projected Adjusted EBITDA to GAAP net income
Key Figures
Market Reality Check
Peers on Argus
EVGO gained 2.07% while several peers like ARKO (+2.45%) and EYE (+0.99%) were also positive, but momentum scanners did not flag a coordinated sector move.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 03 | Product milestone | Positive | +5.8% | Autocharge+ surpassed 5M sessions and strong customer enrollment growth. |
| Nov 10 | Quarterly earnings | Positive | +0.6% | Q3 2025 revenue growth and record network throughput with 2025 guidance. |
| Oct 28 | Earnings scheduling | Neutral | -2.1% | Announcement of upcoming Q3 2025 results release and webcast details. |
| Sep 09 | Network expansion | Positive | -1.0% | Opening over 200 fast charging locations with GM and Pilot nationwide. |
| Aug 14 | Recognition, growth | Positive | +1.1% | Newsweek recognition and 2024 revenue of $257M, up 60% year-over-year. |
Recent positive operational and partnership updates have often seen modestly positive price reactions, though some favorable expansion news drew muted or negative responses.
Over the past six months, EVgo has reported network and customer growth, financial progress, and external recognition. On Dec 3, 2025, Autocharge+ surpassed 5 million sessions with 300,000 customers, and the stock rose 5.77%. Q3 2025 results on Nov 10 showed revenue of $92.3M, up 37% year-over-year, with a small positive move. Large network expansions and accolades, such as Newsweek recognition in August tied to $257M 2024 revenue, have produced mixed but generally constructive reactions, framing today’s CFO transition and reiterated guidance within a growth-focused trajectory.
Market Pulse Summary
This announcement combines a planned CFO transition with reaffirmed 2025 guidance, including revenue of $350–$365M baseline and potential upside to $405M, plus Adjusted EBITDA guidance of $(15)–$(8)M with upside to $23M. Set against recent milestones in charging growth and prior revenue expansion, it underscores a focus on execution and profitability. Investors may watch upcoming quarters for delivery against these targets and stability through the leadership change.
Key Terms
adjusted ebitda financial
ebitda financial
non-gaap financial
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earnout liability financial
warrant liabilities financial
free cash flow financial
AI-generated analysis. Not financial advice.
EVgo Appoints Keefer Lehner as Chief Financial Officer Effective January 12, 2026
Seasoned Executive Brings Finance and Operations Experience to Support High Growth Build-Out to Meet Charging Demand
Company Reiterates 2025 Financial Guidance
LOS ANGELES, Dec. 11, 2025 (GLOBE NEWSWIRE) -- EVgo Inc. (NASDAQ: EVGO) (“EVgo” or the “Company”), one of the nation’s largest public fast charging networks for electric vehicles (“EVs”), today announced the appointment of Keefer Lehner as Chief Financial Officer (“CFO”), succeeding Paul Dobson, who is retiring as EVgo’s Chief Financial Officer, effective January 12, 2025. Dobson will remain with the Company in an advisory capacity through March 2026 to help facilitate a smooth and orderly transition.
Lehner brings extensive financial and operational experience to EVgo at a pivotal time as the Company continues its growth trajectory. Mr. Lehner is a seasoned finance executive and public company CFO with nearly 20 years of experience across finance, operations and strategic leadership. He has a proven track record of scaling organizations, driving profitable growth and strengthening balance sheets. Lehner currently serves as Executive Vice President and Chief Financial Officer at KLX Energy Services, leading organic and strategic growth initiatives focused on driving EBITDA expansion and free cash flow generation. Prior to KLX, Lehner co-founded and served as Executive Vice President and CFO of Quintana Energy Services, where he played a pivotal role in the company’s initial public offering and led strategy, capital allocation and growth initiatives before its merger with KLX. Earlier in his career, he held roles of increasing responsibility within energy-focused investment banking and private equity.
“Keefer brings significant experience in developing financial and operational strategies to enable growth and scale profitability,” said Badar Khan, CEO of EVgo. “His proven ability to scale businesses and his commitment to advancing our strategic priorities will be instrumental as we accelerate the nationwide buildout of our EV charging infrastructure. We have all the elements in place to execute our fully financed growth plan, to drive profitability and deliver sustained value creation.”
Mr. Khan continued, “We thank Paul for his dedication and contributions while serving as CFO, during a critical time when we substantially strengthened our balance sheet and set EVgo on a more positive trajectory.”
“I am honored to be named EVgo’s next CFO and excited to join this dedicated team,” said Mr. Lehner. “With a strong financial foundation and clear strategic priorities, EVgo is well-positioned to achieve and drive profitability, deliver long-term value, and advance its mission to build an integrated fast-charging EV network to support our country's transportation needs.”
2025 Financial Guidance
EVgo reiterated its 2025 financial guidance as previously announced on November 10, 2025.
| 2025 Baseline | ANCILLARY UPSIDE** | 2025 Baseline + ANCILLARY UPSIDE | |
| Total Revenue | Up to | ||
| Adjusted EBITDA* | Up to | ||
___________________________________________________________
* A reconciliation of projected Adjusted EBITDA (non-GAAP) to net income (loss), the most directly comparable GAAP measure, is not provided because certain measures, including share-based compensation expense, which is excluded from Adjusted EBITDA, cannot be reasonably calculated or predicted at this time without unreasonable efforts. EVgo defines EBITDA as net income (loss) before (i) depreciation, net of capital-build amortization, (ii) amortization, (iii) accretion, (iv) interest income, (v) interest expense, and (vi) income tax expense (benefit). EVgo defines Adjusted EBITDA as EBITDA plus (i) share-based compensation, (ii) loss on disposal of property and equipment, net of insurance recoveries, and impairment expense, (iii) loss (gain) on investments, (iv) bad debt expense (recoveries), (v) change in fair value of earnout liability, (vi) change in fair value of warrant liabilities, and (vii) certain other items that management believes are not indicative of EVgo’s ongoing performance.
**Potential contract close-out and gain on sale for an existing dedicated fleet site. Timing and amount are uncertain and subject to ongoing discussions with counterparty.
For more information about the EVgo charging network, visit www.evgo.com.
About Keefer Lehner
Keefer M. Lehner is currently the Executive Vice President and Chief Financial Officer of KLX Energy Services, a position he has held since July 2020. As a co-founder of Quintana Energy Services, Lehner served as the Executive Vice President and CFO prior to merging with KLX. He also held executive roles, including Vice President within Quintana Capital Group where he was responsible for sourcing, evaluating and executing investments across the energy value chain, as well as managing and monitoring the activities of Quintana’s portfolio companies. Prior to joining Quintana, Lehner worked in the investment banking division of Simmons & Company International, focusing on mergers, acquisitions and capital raises for public and private clients engaged in all facets of the energy industry. Lehner attended Villanova University, where he earned a BSBA degree in finance.
About EVgo
EVgo (Nasdaq: EVGO) is one of the nation’s leading public fast charging providers. With more than 1,100 fast charging stations across 47 states, EVgo strategically deploys localized and accessible charging infrastructure by partnering with leading businesses across the U.S., including retailers, grocery stores, restaurants, shopping centers, gas stations, rideshare operators, and autonomous vehicle companies. At its dedicated Innovation Lab, EVgo performs extensive interoperability testing and has ongoing technical collaborations with leading automakers and industry partners to advance the EV charging industry and deliver a seamless charging experience.
Forward Looking Statements
This press release contains “forward-looking statements” within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," “proposed,” "forecast," "intend," "will," "expect," "anticipate," "believe," "seek," "target" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, express or implied statements regarding EVgo’s growth plan, the buildout of its national EV charging infrastructure, the financing of its business, and EVgo’s 2025 financial guidance and future financial performance, including with regard to profitability and delivering long term value. These statements are subject to numerous assumptions, risks and uncertainties and on the current expectations of EVgo’s management and are not predictions of actual performance. These risks include the Company’s ability to implement a smooth leadership transition as well as to other risks described in “Risk Factors” in EVgo’s Annual Report on Form 10-K filed with the SEC on March 6, 2025, as well as its other filings with the SEC, copies of which are available on EVgo’s website at investors.evgo.com, and on the SEC’s website at www.sec.gov. All forward-looking statements in this press release are based on information available to EVgo as of the date hereof, and EVgo does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made, except as required by applicable law.
Contacts
For Investors:
investors@evgo.com
For Media:
press@evgo.com
FAQ
Who is EVgo's new CFO and when does Keefer Lehner start at EVGO?
What 2025 revenue guidance did EVgo report for EVGO on December 11, 2025?
What is EVgo's 2025 Adjusted EBITDA guidance for EVGO?
Will EVgo provide a GAAP reconciliation for the 2025 Adjusted EBITDA guidance for EVGO?
How long will outgoing CFO Paul Dobson remain involved with EVGO after the transition?
How certain is the ancillary upside in EVgo's 2025 guidance for EVGO?
