EVgo (NASDAQ:EVGO) Posts Quarterly Earnings Results

EVgo (NASDAQ:EVGO) issued its earnings results on Tuesday. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.02, FiscalAI reports. The firm had revenue of $109.53 million during the quarter. During the same period last year, the company earned ($0.09) EPS. The company’s revenue for the quarter was up 45.4% on a year-over-year basis.

Here are the key takeaways from EVgo’s conference call:

• EVgo reported a record Q1 with $110 million revenue (up 45% YoY), 91 GWh public-network throughput, 5,280 stalls in operation and 200 new stalls added, signaling continued network growth and customer demand despite an adjusted EBITDA loss of -$7 million as the company invests in expansion.
• An amended DOE loan (now sized to $750M including $625M borrowings) and a $300M commercial facility materially improve liquidity — EVgo received an $81M advance on May 1 and says it has about $640M available principal capacity across facilities to fund its build plan.
• Management progressed its next?generation charging architecture (first system build, successful vehicle charging with company controllers, and reliability testing) with a field rollout expected by year?end; they expect lower CapEx per stall, improved reliability and long?term unit economics that support a target of ~$500M recurring adjusted EBITDA by 2030, and are rolling out NACS to expand addressable market.
• 2026 guidance was reaffirmed — total revenue of $410M–$470M, adjusted EBITDA of -$20M to $20M, and 1,400–1,650 new stalls (back?half weighted, with Q2 the softest and Q4 the strongest), keeping the company’s growth trajectory intact but front?loaded seasonality and timing risks present.
• Near?term margin and throughput headwinds — charging network gross margin slipped (36% in Q1) and adjusted gross margin declined as non?charging revenue mix rose; throughput per stall was ~3.5% lower YoY due to new?stall ramp, legacy equipment underuse and weather, and adjusted G&A rose 19%, contributing to the Q1 adjusted EBITDA loss.

EVgo Stock Performance

NASDAQ:EVGO traded down $0.01 during mid-day trading on Wednesday, hitting $2.10. 1,854,630 shares of the company’s stock traded hands, compared to its average volume of 4,074,454. The company has a fifty day moving average of $2.13 and a 200 day moving average of $2.86. EVgo has a twelve month low of $1.64 and a twelve month high of $5.18. The company has a market capitalization of $655.90 million, a P/E ratio of -6.52 and a beta of 2.82.

EVgo News Summary

Here are the key news stories impacting EVgo this week:

• Positive Sentiment: Q1 beat on the top and bottom lines: EPS of ($0.12) topped consensus ($0.14) and revenue was a record ~$110M, up ~45% year-over-year; charging revenue climbed ~18% (17th consecutive quarter of double-digit charging growth). GlobeNewswire: Q1 Results
• Positive Sentiment: DOE loan amendment and liquidity update were highlighted on the call, and management reiterated a long-term target of $0.5B adjusted EBITDA by 2030 — supportive for financing flexibility and the company’s path to profitability. MSN: DOE loan amendment & EBITDA target
• Positive Sentiment: Management tone on the earnings call emphasized growth, scale and network expansion, which analysts and summaries framed as upbeat and supportive of future volume/revenue expansion. TipRanks: Call highlights
• Neutral Sentiment: Full-year 2026 revenue guidance was reiterated as a wide range ($410M–$470M), which includes consensus; the range leaves room for upside or downside, so investors will watch execution against the midpoint. GlobeNewswire: Guidance
• Negative Sentiment: Near-term concern: Q2 revenue guidance ($75M–$85M) is well below street second-quarter expectations (~$106M), creating uncertainty about near-term growth cadence and likely pressuring short-term sentiment. Zacks: Q1 results & guidance
• Negative Sentiment: Company remains unprofitable (EPS still negative and slightly worse year-over-year compared to prior-year quarter), so longer-term targets hinge on sustained revenue growth and margin improvement. Zacks: Key metrics

Institutional Trading of EVgo

A number of institutional investors have recently bought and sold shares of EVGO. AQR Capital Management LLC boosted its stake in EVgo by 1,188.1% in the 1st quarter. AQR Capital Management LLC now owns 494,598 shares of the company’s stock worth $1,316,000 after purchasing an additional 456,201 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in EVgo by 31.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 83,339 shares of the company’s stock worth $222,000 after purchasing an additional 19,883 shares in the last quarter. Millennium Management LLC boosted its stake in EVgo by 25.9% in the 1st quarter. Millennium Management LLC now owns 5,819,392 shares of the company’s stock worth $15,480,000 after purchasing an additional 1,195,470 shares in the last quarter. Creative Planning increased its holdings in shares of EVgo by 56.4% in the second quarter. Creative Planning now owns 44,353 shares of the company’s stock valued at $162,000 after purchasing an additional 16,000 shares during the period. Finally, Cetera Investment Advisers increased its holdings in shares of EVgo by 53.0% in the second quarter. Cetera Investment Advisers now owns 43,183 shares of the company’s stock valued at $158,000 after purchasing an additional 14,958 shares during the period. 17.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Benchmark reiterated a “buy” rating on shares of EVgo in a report on Monday, March 2nd. Stifel Nicolaus reduced their price target on EVgo from $7.50 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of EVgo in a research report on Wednesday, March 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of EVgo in a research report on Thursday, January 22nd. Finally, Cantor Fitzgerald reduced their price target on EVgo from $7.00 to $6.00 and set an “overweight” rating for the company in a research report on Wednesday, March 4th. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.58.

About EVgo

EVgo operates one of the largest public electric vehicle (EV) fast-charging networks in the United States, delivering direct current (DC) fast charging and Level 2 charging services to passenger vehicles and commercial fleets. The company’s charging stations are strategically located in urban centers, suburban shopping areas, workplace parking facilities, and along major highway corridors, enabling convenient access for EV drivers and promoting long-distance travel.

The company offers a suite of charging solutions, including subscription plans, pay-per-use options, and fleet charging services tailored to the needs of ride-hailing, delivery, and corporate vehicle fleets.