EVgo quarterly charging revenue advances 29% from year ago
Key points
- EVgo reported third-quarter 2026 charging revenue of US$71.8 million, up 29% year-over-year, although total revenue declined 1% to US$91.4 million.
- Charging network throughput increased 8% to 103 GWh, while operating charging stalls grew 20% to 5,530.
- LS Power submitted a non-binding offer to acquire EVgo's remaining Class A shares for US$2.00 per share, while the company maintained its updated 2026 guidance.
EVgo (NASDAQ:EVGO) reported third-quarter 2026 charging network revenue of US$71.8 million, up 29% year-over-year, although total revenue declined 1% to US$91.4 million.
The decline reflected a 46% drop in non-charging network revenue to US$19.6 million, including a 49% decrease in eXtend revenue, which offset growth in charging operations.
Net loss widened 74% to US$49.2 million from US$28.4 million, while gross margin improved to 14.9% from 13.6% and adjusted EBITDA loss narrowed 29% to US$3.53 million.
Network throughput increased 8% to 103 gigawatt-hours, while operating charging stalls grew 20% to 5,530, as EVgo continued expanding its fast-charging infrastructure and customer partnerships.
EVgo updated its 2026 guidance to US$375 million–US$400 million in revenue and a US$30 million–US$15 million adjusted EBITDA loss, while an independent committee reviews LS Power's non-binding US$2-per-share acquisition proposal.
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