EVgo Inc. Reports Second Quarter 2026 Results

About this update from Evgo Inc.

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"}]},{"val":[{"type":"text","tagName":"p","content":" Signed agreement with Tesla to deploy EVgo Superchargers "}]}]},{"type":"text","tagName":"p","content":" LOS ANGELES, Aug. 05, 2026 (GLOBE NEWSWIRE) -- EVgo Inc. (Nasdaq: EVGO) (\"EVgo\" or the \"Company\"), one of the nation's largest providers of public fast charging infrastructure for electric vehicles (EVs), announced results for the second quarter ended June 30, 2026. Management will host a webcast today at 8 a.m. ET / 5 a.m. PT to discuss EVgo's results and other business highlights. "},{"type":"text","tagName":"p","content":" \"EVgo delivered another quarter of solid execution, with 19% charging network revenue growth and continued expansion of our nationwide fast-charging platform,\" said Badar Khan, CEO of EVgo. \"Our recently announced agreement with Tesla underscores the strength of our strategy and our commitment to providing widespread charging infrastructure to the growing EV driver population. Our confidence in EVgo's long-term opportunity has never been stronger thanks to the scale of our network, our differentiated business model and strong utilization and non-dilutive financing sources. As a result, EVgo represents a uniquely differentiated growth profile at an attractive valuation for shareholders.\" "},{"type":"text","tagName":"p","content":" Business Highlights "},{"type":"list","bulletedList":true,"items":[{"val":[{"type":"text","tagName":"p","content":" EVgo Superchargers: EVgo and Tesla signed an agreement to deploy EVgo-owned and branded V4 Superchargers starting in 2026. Each site is expected to have up to 20 stalls located near everyday destinations like retail shops and restaurants. EVgo Superchargers will appear on the in-car Tesla navigation and Tesla Trip Planner. "}]},{"val":[{"type":"text","tagName":"p","content":" Stall Development: Ended the second quarter with 5,380 stalls in operation. EVgo added 280 new DC fast charging stalls during the quarter offset by 175 removals of legacy equipment under the Company's Renew program. "}]},{"val":[{"type":"text","tagName":"p","content":" Average Daily Network Throughput: Average daily throughput per stall for the EVgo public network was 276 kilowatt hours per day in the second quarter of 2026, compared to 281 kilowatt hours per day in the second quarter of 2025. "}]},{"val":[{"type":"text","tagName":"p","content":" Customer Accounts: Added over 99,000 new customer accounts in the second quarter, with over 1.8 million total customer accounts at the end of the quarter. "}]},{"val":[{"type":"text","tagName":"p","content":" J3400 (NACS) Connectors: 240 NACS connectors in operation as of July 31, 2026. "}]},{"val":[{"type":"text","tagName":"p","content":" EVgo Next Generation Charging Architecture: Finalized the design of the Company's next generation charging equipment and testing underway with demonstrated high current charging on multiple vehicle models. 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"},{"type":"table","items":[{"val":[{"val":[{"type":"text","tagName":"p","content":" "}]},{"val":[{"type":"text","tagName":"p","content":" 6/30/2026 "}]},{"val":[{"type":"text","tagName":"p","content":" "}]},{"val":[{"type":"text","tagName":"p","content":" 6/30/2025 "}]},{"val":[{"type":"text","tagName":"p","content":" "}]},{"val":[{"type":"text","tagName":"p","content":" Change "}]}]},{"val":[{"val":[{"type":"text","tagName":"p","content":" Stalls in operation: "}]},{"val":[{"type":"text","tagName":"p","content":" "}]},{"val":[{"type":"text","tagName":"p","content":" "}]},{"val":[{"type":"text","tagName":"p","content":" "}]},{"val":[{"type":"text","tagName":"p","content":" "}]},{"val":[{"type":"text","tagName":"p","content":" "}]}]},{"val":[{"val":[{"type":"text","tagName":"p","content":" EVgo public network1 "}]},{"val":[{"type":"text","tagName":"p","content":" 3,930 "}]},{"val":[{"type":"text","tagName":"p","content":" "}]},{"val":[{"type":"text","tagName":"p","content":" 3,480 "}]},{"val":[{"type":"text","tagName":"p","content":" "}]},{"val":[{"type":"text","tagName":"p","content":" 13 "}]},{"val":[{"type":"text","tagName":"p","content":" % "}]}]},{"val":[{"val":[{"type":"text","tagName":"p","content":" EVgo AV network2 "}]},{"val":[{"type":"text","tagName":"p","content":" 120 "}]},{"val":[{"type":"text","tagName":"p","content":" "}]},{"val":[{"type":"text","tagName":"p","content":" 110 "}]},{"val":[{"type":"text","tagName":"p","content":" "}]},{"val":[{"type":"text","tagName":"p","content":" 9 "}]},{"val":[{"type":"text","tagName":"p","content":" % "}]}]},{"val":[{"val":[{"type":"text","tagName":"p","content":" EVgo eXtend™ 3 "}]},{"val":[{"type":"text","tagName":"p","content":" 1,330 "}]},{"val":[{"type":"text","tagName":"p","content":" "}]},{"val":[{"type":"text","tagName":"p","content":" 760 "}]},{"val":[{"type":"text","tagName":"p","content":" "}]},{"val":[{"type":"text","tagName":"p","content":" 75 "}]},{"val":[{"type":"text","tagName":"p","content":" % "}]}]},{"val":[{"val":[{"type":"text","tagName":"p","content":" Total stalls in operation "}]},{"val":[{"type":"text","tagName":"p","content":" 5,380 "}]},{"val":[{"type":"text","tagName":"p","content":" "}]},{"val":[{"type":"text","tagName":"p","content":" 4,350 "}]},{"val":[{"type":"text","tagName":"p","content":" "}]},{"val":[{"type":"text","tagName":"p","content":" 24 "}]},{"val":[{"type":"text","tagName":"p","content":" % "}]}]}]},{"type":"text","tagName":"p","content":" ___________________________________________________________ 1 Stalls at publicly available charging stations that we own and operate on our network. 2 Stalls at charging stations that we own and operate on our network that are only available to AV fleet customers. 3 Stalls at eXtend are EV charging stations built via partnerships for use by their customers with assets serviced through, and often cobranded with, our national network. "},{"type":"text","tagName":"p","content":" 2026 Guidance "},{"type":"text","tagName":"p","content":" EVgo is updating full year 2026 guidance as follows: •         Total new stalls of 1,350 - 1,625 •         Total revenue of $400 – $430 million •         Adjusted EBITDA* of $(25) million – $(5) million "},{"type":"text","tagName":"p","content":" The Company expects Q1 and Q4 2026 to be the strongest quarters of the year for non-charging revenue. __________________________________________________________ "},{"type":"text","tagName":"p","content":" * A reconciliation of projected Adjusted EBITDA (non-GAAP) to net loss, the most directly comparable GAAP measure, is not provided because certain measures, including share-based compensation expense, which is excluded from Adjusted EBITDA, cannot be reasonably calculated or predicted at this time without unreasonable efforts. For a definition of Adjusted EBITDA, please see \"Definitions of Non-GAAP Financial Measures\" included elsewhere in this release. "},{"type":"text","tagName":"p","content":" Webcast Information "},{"type":"text","tagName":"p","content":" A live audio webcast for EVgo's second quarter 2026 results will be held today at 8 a.m. ET / 5 a.m. PT. The webcast will be available at investors.evgo.com . "},{"type":"text","tagName":"p","content":" This press release, along with other investor materials that will be used or referred to during the webcast, including a slide presentation and reconciliations of certain non-GAAP measures to their nearest GAAP measures, will also be available on that site. "},{"type":"text","tagName":"p","content":" About EVgo "},{"type":"text","tagName":"p","content":" EVgo (Nasdaq: EVGO) is one of the nation's leading public fast charging providers. With more than 1,200 fast charging stations across 47 states, EVgo strategically deploys localized and accessible charging infrastructure by partnering with leading businesses across the U.S., including retailers, grocery stores, restaurants, shopping centers, gas stations, rideshare operators, and autonomous vehicle companies. At its dedicated Innovation Lab, EVgo performs extensive interoperability testing and has ongoing technical collaborations with leading automakers and industry partners to advance the EV charging industry and deliver a seamless charging experience. "},{"type":"text","tagName":"p","content":" Forward-Looking Statements "},{"type":"text","tagName":"p","content":" This press release contains \"forward-looking statements\" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events or the Company's future financial or operating performance. In some cases, you can identify forward-looking statements by the use of words such as \"estimate,\" \"plan,\" \"project,\" \"forecast,\" \"intend,\" \"will,\" \"expect,\" \"anticipate,\" \"believe,\" \"seek,\" \"target,\" \"assume\" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements are based on management's current expectations or beliefs and are subject to numerous assumptions, risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. You are cautioned, therefore, against relying on any of these forward-looking statements. These forward-looking statements include, but are not limited to, those perceived as express or implied statements regarding EVgo's future financial and operating performance, including full year 2026 guidance ranges and potential drivers thereof; EVgo's future profitability and priorities; EVgo's long-term value creation opportunities and addressable market, including pace of deployment, scaling of NACS connectors, enhancements to the customer experience, and key agreements and partnerships, including with Tesla; EVgo's development of next generation charging architecture and deployment of Tesla Superchargers; EVgo's progress on its network buildout; EVgo's financing facilities, including its commercial bank facility and debt financing from the U.S. Department of Energy; and the growth of the autonomous vehicle and rideshare markets. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of EVgo's management and are not predictions of actual performance. There are a significant number of factors that could cause actual results to differ materially from the statements made in this press release, including changes adversely affecting EVgo's business; EVgo's dependence on the widespread adoption of EVs and growth of the EV and EV charging markets; EVgo's reliance on existing project finance for the growth of its business, its ability to fully draw on its debt financing from the U.S. Department of Energy (the \"DOE Loan\") and its credit facility and its ability to comply with the covenants and other terms thereof; competition from existing and new competitors; EVgo's ability to expand into new service markets, grow its customer base and manage its operations; the risks associated with cyclical demand for EVgo's services and vulnerability to industry downturns and regional or national downturns; fluctuations in EVgo's revenue and operating results; unfavorable conditions or disruptions in the capital and credit markets and EVgo's ability to obtain additional financing on commercially reasonable terms; EVgo's ability to generate cash, service indebtedness and incur additional indebtedness; evolving domestic and foreign government laws, regulations, rules and standards that impact EVgo's business, results of operations and financial condition, including regulations impacting the EV charging market and government programs designed to drive broader adoption of EVs and any reduction, modification or elimination of such programs, such as the enactment of the One Big Beautiful Bill Act of 2025, which addresses, among other things, the termination of the Alternative Fuel Vehicle Refueling Property Credit, other changes in policy under the current administration and 119th Congress and the potential changes in tariffs or sanctions and escalating trade wars; EVgo's ability to adapt its assets and infrastructure to changes in industry and regulatory standards and market demands related to EV charging; impediments to EVgo's expansion plans, including permitting and utility-related delays; EVgo's ability to integrate any businesses it acquires; EVgo's ability to recruit and retain experienced personnel; risks related to legal proceedings or claims, including liability claims; EVgo's dependence on third parties, including hardware and software vendors and service providers, utilities and permit-granting entities; supply chain disruptions, elevated rates of inflation and other increases in expenses, including as a result of the implementation of tariffs by the U.S. and other countries; safety and environmental requirements or regulations that may subject EVgo to unanticipated liabilities or costs; EVgo's ability to enter into and maintain valuable partnerships with commercial or public-entity property owners, landlords and/or tenants, original equipment manufacturers, fleet operators and suppliers; EVgo's ability to maintain, protect and enhance EVgo's intellectual property; EVgo's ability to identify and complete suitable acquisitions or other strategic transactions to meet its goals and integrate key businesses it acquires; and the impact of general economic or political conditions, including associated changes in U.S. fiscal and monetary policy such as elevated interest rates, evolving tariff or other changes in trade policy and geopolitical events such as global conflict in Ukraine and tensions in the Middle East region. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission (the \"SEC\") including its most recent Annual Report on Form 10-K, as well as its other SEC filings, copies of which are available on EVgo's website at investors.evgo.com , and on the SEC's website at www.sec.gov . The forward-looking statements in this press release are based on information available to the Company as of the date hereof, and the Company disclaims any obligation to update any forward-looking statements, except as required by law. 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