Charging network operator EVgo's Q3 revenue falls 1%, misses estimates
EVGO•EVgo's third-quarter revenue fell 1% year over year to $91.42 million, below the $94.48 million estimate, while its adjusted EBITDA loss narrowed. The company expects 2026 revenue of $375 million to $400 million and said its board is reviewing an unsolicited take-private proposal from LS Power.
1. Quarterly results
EVgo reported third-quarter revenue of $91.42 million, down 1% year over year and below analysts' $94.48 million estimate. The company posted a net loss of $49.21 million, or $0.14 per share, and an adjusted EBITDA loss of $3.53 million.
2. Network growth
Charging network revenue rose 29% year over year, marking 19 consecutive quarters of double-digit growth. Charging stalls in operation increased 20% to 5,530, and EVgo added more than 95,000 customer accounts, bringing its total to more than 1.9 million.
3. Outlook and proposal
EVgo expects 2026 revenue of $375 million to $400 million and an adjusted EBITDA loss of $30 million to $15 million. It expects to add 1,075 to 1,275 stalls in 2026. The board is reviewing an unsolicited take-private proposal from LS Power and has made no decisions.
