Evgo Stock Earnings Reports

EVgo reported Q1 2026 results in line with expectations, with record first-quarter revenue of $110 million (up 45% y/y) and network throughput of 91 GWh. The network had 5,280 stalls in operation (adding ~200 stalls in Q1) and trailing-12-month energy dispensed of 373 GWh (+21% y/y). Adjusted EBITDA was a loss of $7 million as the company invests in operations, deployments and next‑generation charging architecture. Management highlighted progress on their next‑gen charging system (first builds, successful vehicle charging, reliability testing) and plans to begin field rollouts by year‑end to improve reliability, customer experience and lower per‑store CapEx. EVgo has amended its DOE loan (now $750M total program, $625M borrowings plus $125M capitalized interest), removed a $35M reserve, and drew $81M on May 1, leaving strong liquidity (cash $223M as of May 1 and up to ~$640M available capacity across facilities). The company reaffirmed 2026 guidance: revenue $410M–$470M and adjusted EBITDA between negative $20M and positive $20M, with expected 1,400–1,650 new stalls in 2026 (majority in H2, weighted to Q4). Management emphasized long-term unit economics targeting recurring adjusted EBITDA of ~$0.5 billion by 2030, plans to deploy NACS connectors (target >500 NACS stalls by year-end, ~15% of sites), and continued focus on rideshare and AV hub partnerships as demand drivers. Q2 is expected to be the weakest quarter seasonally (Q2 revenue $75M–$85M; adjusted EBITDA loss $12.5M–$7.5M), with sequential improvement into Q3 and a strong Q4.