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EVgo
(NASDAQ:EVGO)
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Rating:52Neutral
Price Target:
$2.00
▼(-9.50% Downside)
Action:Reiterated
Date:06/05/26
The score is held down primarily by weak financial quality—ongoing losses and sustained cash burn—despite solid revenue growth and improving gross profitability. Technicals are moderately constructive (above key short-term averages with positive MACD) but show near-overbought conditions and a still-weak longer-term trend. Guidance and liquidity updates from the earnings call are supportive, while valuation remains challenging due to negative earnings and no dividend support.
Positive Factors
Network expansion / stall growth
Rapid, sustained stall additions and reaffirmed new-stall guidance indicate durable network-scale expansion. A larger footprint increases addressable charging sessions, strengthens site-host relationships, and improves potential throughput and operating leverage as utilization rises, supporting long-term recurring revenue growth.
Negative Factors
Persistent cash burn
Repeated negative operating cash flow and steep free-cash-flow deficits show the core business still consumes material cash. Ongoing reliance on external capital raises execution and dilution risk: if growth or throughput lags, financing needs could intensify and constrain the company’s ability to sustain aggressive network buildouts.
Read all positive and negative factors
Positive Factors
Negative Factors
Network expansion / stall growth
Rapid, sustained stall additions and reaffirmed new-stall guidance indicate durable network-scale expansion. A larger footprint increases addressable charging sessions, strengthens site-host relationships, and improves potential throughput and operating leverage as utilization rises, supporting long-term recurring revenue growth.
Read all positive factors
EVgo Key Performance Indicators (KPIs)
Any
Network Throughput
Measures the total energy dispensed across the network, indicating the level of usage and demand for EVgo's charging services, which can signal growth in electric vehicle adoption and market penetration.
Measures the total energy dispensed across the network, indicating the level of usage and demand for EVgo's charging services, which can signal growth in electric vehicle adoption and market penetration.
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The Fly
The FlyEVgo (EVGO) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$574.36M
Dividend YieldN/A
Average Volume (3M)4.15M
Price to Earnings (P/E)―
Beta (1Y)1.61
Revenue Growth51.05%
EPS Growth14.89%
CountryUS
Employees329
SectorConsumer Cyclical
Sector Strength84
IndustrySpecialty Retail
Share Statistics
EPS (TTM)-0.34
Shares Outstanding141,059,370
10 Day Avg. Volume3,452,186
30 Day Avg. Volume4,147,454
Financial Highlights & Ratios
PEG Ratio0.38
Price to Book (P/B)-3.32
Price to Sales (P/S)1.01
P/FCF Ratio-3.12
Enterprise Value/Market Cap1.38
Enterprise Value/Revenue1.90
Enterprise Value/Gross Profit9.78
Enterprise Value/Ebitda-24.63
Forecast
1Y Price Target
$3.33Price Target Upside50.83% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)-0.41
Revenue Forecast (FY)$431.45M
EVgo Business Overview & Revenue Model
Company Description
EVgo, Inc. operates and manages a comprehensive network of high-speed direct current (DC) electric vehicle charging stations across the United States. The company provides electric power directly to vehicle owners who utilize its publicly accessib...
How the Company Makes Money
EVgo generates revenue primarily by selling charging services and related services tied to its charging network. Key revenue streams include: (1) Charging network revenue: EVgo earns fees when drivers charge at EVgo-owned/operated stations, typica...
EVgo Earnings Call Summary
Earnings Call Date:May 05, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 11, 2026
Earnings Call Sentiment Positive
The call presents a broadly positive view: record revenue, strong YoY growth in energy dispensed and charging revenue, meaningful network expansion, progress on NACS deployment, and materially improved liquidity with the DOE loan amendment and commercial financing. Near-term challenges include a Q1 adjusted EBITDA loss (investments in growth), margin and throughput headwinds driven by new-site ramp, seasonality and weather, and an expected softer Q2. Management reaffirmed 2026 guidance and reiterated long-term targets, suggesting confidence in scaling to significant adjusted EBITDA by 2030.Positive Updates
Record Q1 Revenue
Q1 2026 revenue of $110 million, a 45% year-over-year increase, driven by growth across charging network, eXtend, and AV/ancillary revenue.
Negative Updates
Q1 Adjusted EBITDA Loss
Adjusted EBITDA was negative $7 million in Q1 2026, reflecting continued investments in operations, deployment teams, and next-generation charging architecture.
Read all updates
Q1-2026 Updates
Positive
Negative
Record Q1 Revenue
Q1 2026 revenue of $110 million, a 45% year-over-year increase, driven by growth across charging network, eXtend, and AV/ancillary revenue.
Read all positive updates
Company Guidance
EVgo reaffirmed 2026 guidance calling for 1,400–1,650 new stalls (including 350–400 eXtend stalls, ~100 already deployed in Q1) with public stalls growing ~70% YoY and most builds weighted to H2/Q4; total revenue of $410M–$470M and adjusted EBITDA of –$20M to +$20M, with charging network ≈70% of revenue (charging revenue at the midpoint up ~40% YoY). eXtend revenue is guided to $80M–$90M and AV/ancillary to $40M–$50M (just under half of which was recognized in Q1); adjusted G&A is expected to be $150M–$155M. Management expects Q2 to be the softest quarter (revenue $75M–$85M; adjusted EBITDA loss $12.5M–$7.5M), modest sequential improvement into Q3 and a materially stronger Q4, and reaffirmed longer‑term targets of 12,500–13,900 public stalls by end‑2029 and recurring adjusted EBITDA of ~$0.5B+ by 2030. They also highlighted strong liquidity to fund the plan: $223M cash as of May 1 (including an $81M DOE draw), up to ~$640M available capacity across credit facilities, and a $750M DOE loan (up to $625M borrowings, availability 5 years, term 17 years).EVgo Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
55
Neutral
Cash Flow
24
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 418.33M | 384.09M | 256.82M | 160.95M | 54.59M | 22.21M |
| Gross Profit | 81.11M | 80.78M | 29.37M | 9.71M | -5.65M | -6.83M |
| EBITDA | -32.20M | -34.98M | -63.19M | -83.46M | -70.28M | -31.93M |
| Net Income | -46.63M | -41.57M | -44.33M | -42.43M | -27.57M | -5.91M |
Balance Sheet | ||||||
| Total Assets | 920.35M | 964.83M | 803.76M | 806.61M | 729.72M | 746.32M |
| Cash, Cash Equivalents and Short-Term Investments | 122.44M | 151.00M | 117.27M | 208.67M | 246.19M | 484.88M |
| Total Debt | 322.48M | 311.21M | 90.37M | 68.00M | 50.65M | 0.00 |
| Total Liabilities | 567.68M | 578.89M | 360.03M | 266.24M | 212.60M | 158.40M |
| Stockholders Equity | 38.73M | -116.90M | -256.11M | -160.59M | -358.10M | -1.36B |
Cash Flow | ||||||
| Free Cash Flow | -165.14M | -124.44M | -102.04M | -195.95M | -259.05M | -94.61M |
| Operating Cash Flow | -32.85M | -7.73M | -7.26M | -37.05M | -58.79M | -29.60M |
| Investing Cash Flow | -132.28M | -116.68M | -87.82M | -143.31M | -199.71M | -87.77M |
| Financing Cash Flow | 144.54M | 214.65M | 6.44M | 143.02M | 19.81M | 594.63M |
EVgo Technical Analysis
Negative
2.21
Price Trends
1.99
Negative
2.10
Negative
2.82
Negative
Market Momentum
-0.05
Positive
41.69
Neutral
38.27
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For EVGO, the sentiment is Negative. The current price of 2.21 is above the 20-day moving average (MA) of 1.89, above the 50-day MA of 1.99, and below the 200-day MA of 2.82, indicating a bearish trend. The MACD of -0.05 indicates Positive momentum. The RSI at 41.69 is Neutral, neither overbought nor oversold. The STOCH value of 38.27 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for EVGO.
EVgo Risk Analysis
EVgo disclosed 69 risk factors in its most recent earnings report. EVgo reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
EVgo Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
52 Neutral | $574.36M | ― | 79.86% | ― | 51.05% | 14.89% | |
52 Neutral | $36.94M | -0.43 | 64.38% | ― | ― | ― | |
50 Neutral | $146.58M | -0.67 | -680.26% | ― | 1.89% | 28.53% | |
45 Neutral | $4.45M | ― | 1386.52% | ― | -8.90% | 80.07% |
* Consumer Cyclical Sector Average
EVGO
EVgo
1.79
-1.66
-48.12%
NAAS
NaaS Technology
3.46
0.33
10.54%
CHPT
ChargePoint Holdings
5.78
-7.44
-56.27%
NVVE
Nuvve Holding
8.78
-663.27
-98.69%
EVgo Corporate Events
Executive/Board ChangesShareholder Meetings
EVgo Names New Chief Accounting Officer, Affirms Governance
Positive
May 19, 2026
On May 18, 2026, EVgo appointed Amber Scott as Chief Accounting Officer and Principal Accounting Officer, shifting those duties from CFO Keefer Lehner, who remains Chief Financial Officer and Principal Financial Officer. Scott, a seasoned finance ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.