EVgo recently announced it generated $61 million in charging network revenue in Q2 2026, up 19% year over year and marking the company’s 18th consecutive quarter of double-digit charging network revenue growth, as its fast-charging footprint expanded to 5,380 operating stalls.
Network throughput reached 99 GWh during the quarter, increasing 13% from 88 GWh a year earlier. Total stalls in operation increased 24% to 5,380 from 4,350.
The network expansion spanned several operating models. EVgo’s public network increased 13% to 3,930 stalls, its autonomous-vehicle network increased 9% to 120 stalls and EVgo eXtend grew 75% to 1,330 stalls.
EVgo added 280 new DC fast-charging stalls during Q2, although that was partially offset by the removal of 175 legacy stalls through its Renew program.
Average daily throughput per public-network stall was 276 kilowatt-hours per day compared with 281 kilowatt-hours a year earlier, meaning aggregate throughput growth was driven more by the larger network than by higher utilization per individual public-network stall during the quarter.
Customer accounts continued expanding as well. EVgo added more than 99,000 accounts during Q2 and ended the quarter with more than 1.8 million total customer accounts. As of July 31, the company had 240 J3400, or NACS, connectors in operation.
Total company revenue presented a different comparison from charging revenue because of fluctuations in EVgo’s non-charging businesses. Overall Q2 revenue declined 16% to $82.6 million from $98 million, while adjusted gross margin increased 290 basis points to 31.8% from 28.9%.
GAAP gross margin declined to 8.9% from 14.2%, and EVgo recorded a $46.3 million net loss compared with a $29.8 million loss a year earlier. Adjusted EBITDA loss widened to $10.6 million from $1.9 million.
Capital deployment is continuing as EVgo expands the network. Q2 capital expenditures were $33.8 million, and capital expenditures net of OEM infrastructure payments and capital-build funding were $27.3 million compared with $17.1 million a year earlier.
One of the company’s most significant network initiatives is a new agreement with Tesla. EVgo plans to begin deploying EVgo-owned and EVgo-branded Tesla V4 Superchargers in 2026, with each location expected to contain up to 20 stalls near destinations such as retailers and restaurants. The sites will appear in Tesla’s in-car navigation and Trip Planner.
EVgo has also finalized the design of its next-generation charging architecture and begun testing the system, including high-current charging across multiple vehicle models.
For 2026, EVgo expects total revenue of $400 million to $430 million, 1,350 to 1,625 new stalls and an adjusted EBITDA loss of $5 million to $25 million.
The charging-network revenue streak provides a clearer view of the underlying utilization and network-growth story than consolidated revenue alone, particularly as EVgo continues expanding its own public network, eXtend partnerships and new Tesla-supported infrastructure.
KEY QUOTES:
“EVgo delivered another quarter of solid execution, with 19% charging network revenue growth and continued expansion of our nationwide fast-charging platform.”
“Our recently announced agreement with Tesla underscores the strength of our strategy and our commitment to providing widespread charging infrastructure to the growing EV driver population. Our confidence in EVgo’s long-term opportunity has never been stronger thanks to the scale of our network, our differentiated business model and strong utilization and non-dilutive financing sources. As a result, EVgo represents a uniquely differentiated growth profile at an attractive valuation for shareholders.”
Badar Khan, CEO of EVgo
