EVgo Q2 revenue beats on increased network throughput
EVgo Q2 revenue beats on increased network throughput
Overview
US fast charging network's Q2 revenue beat analyst expectations
Adjusted EBITDA loss widened yr/yr; net loss increased 55%
Company signed agreement with Tesla to deploy EVgo-branded Superchargers
Outlook
EVgo sees 2026 revenue of $400 mln to $430 mln
Company expects 2026 adjusted EBITDA between $(25) mln and $(5) mln
EVgo expects Q1 and Q4 2026 to be strongest for non-charging revenue
Result Drivers
CHARGING REVENUE GROWTH - Charging network revenue rose 19% yr/yr, driven by increased network throughput and more stalls in operation
NON-CHARGING REVENUE DECLINE - Non-charging network revenue fell 54% yr/yr, mainly due to lower eXtend and ancillary revenue
TESLA PARTNERSHIP - Signed agreement with Tesla to deploy EVgo-branded Superchargers starting in 2026
Company press release: ID:nGNX2nHxQZ
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | $82.65 mln | $79.91 mln (7 Analysts) |
Q2 Loss Per Share |
| $0.15 |
|
Q2 Net Loss |
| $46.34 mln |
|
Q2 Adjusted EBITDA |
| -$10.57 mln |
|
Q2 Adjusted Gross Margin |
| 31.80% |
|
Q2 Adjusted Gross Profit |
| $26.28 mln |
|
Q2 Capex |
| $33.82 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 2 "hold" and 1 "sell" or "strong sell"
Wall Street's median 12-month price target for EVgo Inc is $3.50, about 102.3% above its August 4 closing price of $1.73
Reuters Recommended Reads
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Aug 4 - Battery maker Amprius Q2 revenue more than doubles, beats estimates on drone, e-mobility demand
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.)