EVgo, Inc. operates and manages a comprehensive network of high-speed direct current (DC) electric vehicle charging stations across the United States. The ...
EVgo, Inc. (NASDAQ: EVGO) is one of the largest and most advanced public fast charging networks for electric vehicles in the United States. Founded in 2010 and headquartered in El Segundo, California, the company operates a comprehensive network of high-speed direct current (DC) charging stations across 47 states, with over ...EVgo, Inc. (NASDAQ: EVGO) is one of the largest and most advanced public fast charging networks for electric vehicles in the United States. Founded in 2010 and headquartered in El Segundo, California, the company operates a comprehensive network of high-speed direct current (DC) charging stations across 47 states, with over 1,200 fast charging locations serving more than 153 million Americans. EVgo's mission is to expedite mass EV adoption by providing convenient, reliable, and affordable charging infrastructure. The company generates revenue primarily by selling electricity to EV drivers through its network, but it also offers a range of complementary services. These include digital application experiences, charging data integration, customer loyalty programs, access to chargers in paid parking structures, targeted advertising trials, and charging session reservations. For commercial clients, EVgo provides fleet and rideshare charging solutions, 'charging as a service' models, and dedicated infrastructure for fleets. Through its eXtend™ initiative, the company delivers comprehensive maintenance, development, and project management services, including installation, network integration, and ongoing operation of EV supply equipment. EVgo's business model emphasizes strategic partnerships with original equipment manufacturers (OEMs), landlords, and other stakeholders to expand its network. Financially, EVgo has been growing its revenue but has yet to achieve profitability, with negative net margins and free cash flow. The company's gross profit margin is approximately 18.5%, but high operating expenses and capital expenditures for network expansion contribute to operating losses. As of the latest data, EVgo's market capitalization is around $508 million, with a price-to-sales ratio of 1.26. The company has 376 full-time employees, led by CEO Badar Khan, who has over 25 years of energy sector experience. EVgo is publicly traded on NASDAQ and continues to invest heavily in expanding its charging infrastructure to meet the growing demand for EV charging.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$384.1M
+49.6%
-24.5%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-41.6M
+6.2%
-26.5%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+21.0%
+83.9%
+0.7%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
-28.8%
+43.8%
-63.3%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
-10.8%
+37.3%
-67.7%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-124.4M
-21.9%
+38.9%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
-32.4%
+18.5%
+19.0%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
-266.2%
-654.4%
-344.1%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
2.19x
+18.9%
+5.8%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Good day, and thank you for standing by. Welcome to the EVgo Second Quarter 2026 Earnings Call. [Operator Instructions] Please be advised, today's conference is being recorded. I would now like to hand the conference over to your speaker today, Heather Davis, Vice President of Investor Relations. Please go ahead.
Heather Davis: Good morning, and welcome to EVgo's Second Quarter 2026 Earnings Call. My name is Heather Davis, and I am the Vice President of Investor Relations at EVgo. Joining me on today's call are Badar Khan, EVgo's Chief Executive Officer; and Keefer Lehner, EVgo's Chief Financial Officer. Today, we will be discussing EVgo's second quarter 2026 financial results and our outlook for the year, followed by a Q&A session. Today's call is being webcast and can be accessed on the Investors section of our website at investors.evgo.com. The call will be archived and available there, along with the company's earnings release and investor presentation after the conclusion of this call. During the call, management will be making forward-looking statements that are subject to risks and uncertainties, including expectations about future performance. Factors that could cause actual results to differ materially from our expectations are detailed in our SEC filings, including in the Risk Factors section of our most recent annual report on Form 10-K and quarterly reports on Form 10-Q. The company's SEC filings are available on the Investors section of our website. These forward-looking statements apply as of today, and we undertake no obligation to update these statements after the call. Also, please note that we will be referring to certain non-GAAP financial measures on this call. Information about these non-GAAP measures, including definitions and applicable reconciliations to the corresponding GAAP measures can be found in the earnings materials available on the Investors section of our website. With that, I'll turn the call over to Badar Khan, EVgo's CEO.
Badar Khan: Thank you, Heather. EVgo delivered solid results for the second quarter, in line with our expectations, while continuing to build a durable nationwide infrastructure network. We have a proven track record of growth in both operational stores and revenue. Since 2021, the year we went public, our operational stores are expected to increase nearly fourfold by the end of 2026. We've delivered consistent growth year in and year out. Total revenue is expected to increase even faster at 19x by the end of 2026. Revenue growth is driven by a combination of store additions, increasing daily throughput per store and our non-charging revenue tied to extend and autonomous vehicles lines of business. What's really impressive is through 2025, our revenue compound annual growth rate has exceeded 100%, putting us in the top 1% of U.S. public company revenue growth rate and around 3x higher than our public charging peers. We are thrilled to announce that EVgo and Tesla have entered into …
