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what it is
EVgo owns fast chargers, sells electricity to EV drivers, and builds charging programs for carmakers, fleets, and property owners.
how it gets paid
Last year Evgo made $384M in revenue. Charging network revenue was the main engine at $205M, or 53% of sales.
why it's growing
Revenue grew 49.6% last year. 13.5% gross margin mattered most because gross margin → money left after direct costs → so what: EVgo needs a lot more of it before.
what just happened
Revenue hit $266M, up 188% vs. prior year, but EVgo still posted a loss and thin margins.
At a glance
B balance sheet — gets the job done, barely
-$0.41 fy2024 eps est
$257M fy2024 rev est
28.8% operating margin
1.5 beta
xvary composite: 47/100 — below average
What they do
EVgo owns fast chargers, sells electricity to EV drivers, and builds charging programs for carmakers, fleets, and property owners.
EVgo wins by being where your battery panic lives: public fast charging. The company says it runs 1,100+ fast charging stations across 47 states, and that footprint matters because you do not care about charger brands until you need one at 9%. Its edge is network access plus software and partner programs, not just metal in a parking lot.
How they make money
$384M
annual revenue · their business grew +49.6% last year
Charging network revenue
$205M
eXtend and charging infrastructure services
$96M
OEM charging and related services
$46M
Fleet and rideshare charging
$23M
PlugShare data and advertising
$14M
The products that matter
public fast charging
EV Fast Charging Network
1,100+ stations · 47 states
it is the physical footprint behind the story. the network generated a record $64M in revenue in the most recent quarter, up 75% from a year ago, which tells you demand is real even if profits are not.
core network
deployment and buildout
Network Development & Services
1,400–1,650 stalls planned
management is targeting 1,400–1,650 new charging stalls in 2026. that matters because this business needs more utilization and more scale at the same time.
2026 build plan
Key numbers
$384M
annual revenue
That is the current scale. EVgo is no longer a science project, but it is still priced like a business searching for durable profits.
28.8%
operating margin
Operating margin → profit after running the business → so what: EVgo loses money even before you get to shareholder returns.
$156M
long-term debt
Debt → money owed over years → so what: losses are easier to tolerate when lenders are not already sitting at $156M.
5/100
price stability
Price stability → how calm the stock trades → so what: this name behaves more like a mood swing than a bond proxy.
Financial health
B
strength
- balance sheet grade B — adequate — nothing special
- risk rank 3 — safer than 50% of stocks
- price stability 5 / 100
- long-term debt $156M (19% of capital)
B — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for EVGO right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Revenue hit $266M, up 188% vs. prior year, but EVgo still posted a loss and thin margins.
EDGAR-backed figures show revenue of $266M, EPS of -$0.27, and gross margin of 13.5%. Quiet part out loud: huge top-line growth does not help much when only 13.5 cents of every dollar remains after direct costs.
$96M
revenue
$0.27
eps
13.5%
gross margin
the number that mattered
13.5% gross margin mattered most because gross margin → money left after direct costs → so what: EVgo needs a lot more of it before growth turns into profits.
source: company earnings report, 2026
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What could go wrong
the #1 risk here is an EV adoption slowdown hitting charger utilization before EVgo's margins improve.
med
EV demand cools before the network matures
If EV sales weaken in 2026, charger usage can slow at exactly the wrong moment. EVgo is still in the phase where it needs higher throughput, not just more hardware in the ground.
A softer demand backdrop would make the $410M–$470M revenue guide harder to hit.
med
deployment delays break the scale story
Management is targeting 1,400–1,650 new stalls in 2026. Supply-chain issues, utility interconnection delays, or simple execution misses would push revenue further out.
Missing that stall target would slow network expansion and delay the utilization gains the model needs.
med
the unit economics stay thin for too long
A 13.5% gross margin and a -$0.41 EPS estimate tell you the business still has a long way to go before scale turns into durable profit.
With $211M of cash and $156M of long-term debt, EVgo has runway. What it does not have is infinite time.
The combined risk picture is simple: strong top-line growth matters less if EVgo cannot convert it into materially better margins before cash gets tighter.
source: institutional data · regulatory filings · risk analysis
Pay attention to
earnings
next report timing
Expected around May 5, 2026 based on the historical schedule. You want to see whether $64M of network revenue was a one-quarter spike or a real trend.
margin
gross margin above 13.5%
Revenue growth is already here. The next proof point is whether the company starts keeping more than 13.5 cents of each revenue dollar.
buildout
the 1,400–1,650 stall target
This is the scale number for 2026. If deployment slips, the growth story loses one of its few hard milestones.
demand risk
EV adoption versus charger utilization
More chargers only help if drivers use them. A weaker EV market would pressure the network before EVgo has proved durable profitability.
Analyst rankings
risk profile
average
risk rank 3 — typical risk profile — neither especially safe nor risky.
chart momentum
below average
momentum rank 4 — analysts see underperformance risk in the near term.
source: institutional data
Institutional activity
institutional ownership data for EVGO is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$3
current price
n/a
target midpoint · n/a from current
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