EVgo Inc. Class A Common Stock Q1 2026 Earnings Recap

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.