EVgo Q1 revenue rises 45%, beats estimates

Evgo

05/05/2026 12:19

Overview

US fast charging network operator's Q1 revenue rose 45% yr/yr, beating analyst expectations

Company ended Q1 with 5,280 stalls in operation, up 25% from prior year

Outlook

EVgo affirms 2026 revenue guidance of $410 mln to $470 mln

Company expects 2026 Adjusted EBITDA between $(20) mln and $20 mln

EVgo sees Q2 2026 revenue of $75 mln to $85 mln

Result Drivers

NETWORK EXPANSION - Revenue growth driven by continued expansion of charging network and addition of over 200 new DC fast charging stalls

CUSTOMER GROWTH - Added over 86,000 new customer accounts in Q1, reaching more than 1.7 mln total accounts

Company press release: ID:nGNX9Bs2Jf

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$109.53 mln
$88.40 mln (10 Analysts)
Q1 Net Income
-$36.98 mln
Q1 Adjusted EBITDA
-$7.48 mln
Q1 Adjusted Gross Margin
27.10%
Q1 Adjusted Gross Profit
$29.63 mln
Q1 Capex
$30.58 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

Wall Street's median 12-month price target for EVgo Inc is $4.00, about 84.3% above its May 4 closing price of $2.17

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)