EVgo Inc. (EVGO) shares soared 8.77% in pre-market trading on Monday following the release of its impressive third-quarter results and optimistic future outlook. The electric vehicle charging network operator reported better-than-expected revenue and significant year-over-year growth, sparking investor enthusiasm.

The company announced Q3 revenue of $92.299 million, surpassing analyst estimates of $91.2 million and representing a robust 37% increase compared to the same period last year. EVgo's charging network revenue reached a record $55.8 million, up 33% year-over-year, marking the 15th consecutive quarter of double-digit growth in this segment. The strong performance was supported by the addition of over 280 new DC fast charging stalls during the quarter, bringing the total to 4,590 stalls in operation, a 25% increase from the previous year.

Adding to the positive sentiment, EVgo provided an encouraging outlook for 2025, projecting total revenue between $350 million and $405 million. CEO Badar Khan expressed confidence in the company's trajectory, stating, "We anticipate an inflection point toward positive Adjusted EBITDA supported by a fully financed growth plan." This forward-looking statement, coupled with the company's strong Q3 results, appears to be driving the significant pre-market stock price surge as investors bet on EVgo's continued expansion and potential profitability in the growing electric vehicle charging market.