Quarterly ResultMay 5, 2026, 07:08 AM
EVgo Q1 Revenue +45% to $110M; Record Quarter
AI Summary
EVgo Inc. reported record first-quarter revenues for 2026, with total revenue increasing 45% year-over-year to $110 million. Charging network revenue also saw an 18% increase, marking the 17th consecutive quarter of double-digit growth. The company expanded its network, ending the quarter with 5,280 stalls in operation and increasing network throughput by 10%. Despite revenue growth, EVgo reported an increased net loss of $(36.98) million and an Adjusted EBITDA loss of $(7.48) million. The company also announced an amended DOE Loan of $750 million and affirmed its full-year 2026 financial guidance.
Key Highlights
- Total revenue increased 45% year-over-year to $110 million in Q1 2026.
- Charging network revenue grew 18% year-over-year to $56 million.
- Network throughput reached 91 GWh, an increase of 10% year-over-year.
- Ended Q1 with 5,280 stalls in operation, up 25% year-over-year.
- Net loss was $(36.98) million, a 41% increase year-over-year.
- Adjusted EBITDA was $(7.48) million, a 26% increase year-over-year.
- Amended DOE Loan to $750 million in April 2026.
- Affirmed full-year 2026 revenue guidance of $410 million to $470 million.