EVgo beats Q1 estimates with record revenue, narrower loss, and continued fast-charging network expansion across the U.S.
Stock Earnings Results
May 5, 2026
Table of Contents
May 5, 2026
EVgo, Inc. (NASDAQ: EVGO) reported first-quarter 2026 results above expectations, supported by record first-quarter revenue, charging network growth, and continued expansion of its fast-charging infrastructure.
EVgo is a public fast-charging network provider for electric vehicles, operating charging stations across the U.S. through partnerships with retailers, grocery stores, restaurants, gas stations, rideshare operators, and autonomous vehicle companies.
The company reported a loss of $0.12 per share, narrower than estimates for a loss of $0.14, representing a 14.3% earnings surprise and 45.5% revenue growth. Revenue came in at $109.53 million, above estimates of $87.49 million.
EVgo reported total revenue of $110 million, up 45% year-over-year.
Charging network revenue reached $56 million, up 18% year-over-year, marking the company’s 17th consecutive quarter of double-digit charging revenue growth.
EVgo’s network throughput reached 91 gigawatt-hours in the first quarter, up 10% from the prior year.
The company ended the quarter with 5,280 stalls in operation, a 25% year-over-year increase, and added more than 200 new DC fast-charging stalls during the quarter.
EVgo reaffirmed its full-year 2026 outlook, including:
For the second quarter, the company expects revenue of $75 million to $85 million and adjusted EBITDA of negative $12.5 million to negative $7.5 million.
Despite revenue growth, EVgo reported a net loss of $37.0 million, wider than a $26.2 million loss in the prior-year period.
Adjusted EBITDA was negative $7.5 million, compared with negative $5.9 million a year earlier. Operating cash use also increased, while net capital expenditures rose as the company continued investing in network expansion.
Investors are likely to watch whether EVgo can translate charging demand and network expansion into improving margins.
The key areas are:
EVgo’s quarter shows the tradeoff in EV infrastructure stocks: revenue and network scale are improving, but profitability remains uneven.
The revenue beat and reaffirmed guidance support the growth story. The challenge is whether expanding utilization can outpace capital spending and operating losses.
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