10-K · March 9, 2026
EVgo’s 2025 10-K highlights continued top-line growth and improving unit economics driven by network scale and commercial partnerships: the company reports roughly $384.1 million of revenue for the year and says its…
Earnings analysis · 10-Q
EVGO earnings analysis
Filed May 5, 2026 · Our reading of the company's report
The latest report
EVgo reported Q1 2026 revenue of $109.5 million, marking a significant 45% increase year-over-year, notably surpassing the consensus estimate of $87.9 million. However, the company continued to post a loss per share of…
Read full summary
EVgo reported Q1 2026 revenue of $109.5 million, marking a significant 45% increase year-over-year, notably surpassing the consensus estimate of $87.9 million. However, the company continued to post a loss per share of $(0.12), in line with expectations. Management indicated strong growth in both AV and ancillary revenue streams alongside retail and commercial sectors, affirming full-year revenue guidance for 2026.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.12
- Segment
- Charging Revenue - $55.7M; eXtend Revenue - $33.2M; AV Revenue - $20.6M
What stood out
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Strong Revenue Growth
Revenue increased by 45% year-over-year to $109.5 million, beating the estimate of $87.9 million.
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Diverse Revenue Stream Expansion
AV and ancillary revenue surged 339% to $20.6 million, reflecting significant growth in dedicated fleet engagements.
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Improvement in Margins
Operating margin improved to -33.2% from -44.4% year-on-year.
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eXtend Revenue Growth
eXtend revenue grew by 41% to $33.2 million, indicating robust demand for construction and infrastructure services.
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Cash Position Adequate
As of March 31, 2026, cash and cash equivalents stood at $150 million, sufficient for at least 12 months of operations.
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Future Expansion via DOE Loan
Successful amendment of the DOE loan to $750M will support network expansion with an enhanced deployment plan.
What to watch
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Increased Cash Burn Rate
Cash used in operating activities jumped to $35.4 million from $10.2 million year-over-year.
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High Operating Loss
Operating loss was $36.3 million, reflecting ongoing investments despite revenue growth.
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Dependence on EV Market Trends
Projected demand for EVs is uncertain and may slow, affecting future revenue growth.
Management's outlook
Management affirmed full-year 2026 revenue guidance of $410-$470 million.
Earlier filings 4
10-Q · November 10, 2025
EVgo reported Q3 2025 revenue of $92.299 million, up 36.7% year-over-year but down modestly versus the prior quarter. Gross profit improved to $12.560 million (13.6% gross margin) and GAAP diluted loss per Class A share…
10-Q · August 5, 2025
EVgo reported Q2 revenue of $98.03 million (up from $66.62 million a year ago), driving a higher gross profit of $13.908 million and a sequential improvement in operating loss to $(30.812) million. The company remains…
10-Q · May 6, 2025
EVgo reported Q1 2025 revenue of $75,287,000, up from $55,158,000 in Q1 2024, with gross profit of $9,323,000 (≈12.4% margin) and an operating loss of $33,400,000 (‑44.4% operating margin). Net loss per Class A share…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.