EVgo Inc. Class A Common Stock Earnings Recaps
Q1 2026
May 6, 2026
EVgo shares declined 10.8% post-earnings, driven primarily by cautious outlook signals and ongoing negative adjusted EBITDA, despite solid revenue growth and network expansion.
Key takeaways
- Revenue reached a record $110 million in Q1 2026, up 45% year-over-year, supported by network growth and new contracts.
- Public network throughput increased to 91 gigawatt hours, with 5,280 stores operational including over 200 added in the quarter.
- Adjusted EBITDA remained negative $7 million, reflecting continued investment in operations, deployment, and next-generation charging technology.
- Management maintained previous build targets for 12,500 to 13,900 stores by 2029 but highlighted ongoing capital deployment and investment needs.
- Strong liquidity position with $150 million cash at quarter-end and access to up to $640 million in available credit through DOE loans and commercial facility amendments.
Q3 2025
Nov 11, 2025
EVgo reported strong Q3 2025 results with $92 million in total revenue and record charging network revenues, signaling significant growth in its EV charging infrastructure and usage. The company is poised to achieve breakeven adjusted EBITDA in Q4.
Key takeaways
- Total revenue increased to $92 million, reflecting robust growth aligned with EV market trends.
- Charging network revenues reached a record high, supported by nearly 4,600 operational stalls.
- The company received a $41 million advance from the DOE Loan to accelerate nationwide charging infrastructure development.
- EVgo's revenue growth outpaces the growth in EV vehicles, attributed to strategic network planning and increased utilization.
- Adjusted EBITDA is set to turn positive in Q4 2025, driven by significant operating leverage and fixed cost structures.