EVgo Q3 charging revenue rises 29% to $72 million as stalls reach 5,530
EVgo's charging network revenue grew 29% year over year in Q3 2026, but total revenue slipped 1% and net loss widened to $49.2 million. It also updated full-year guidance.
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EVgo said its charging network revenue rose 29% year over year to $72 million in the third quarter of 2026, according to its results release on November 9. The company called it the 19th straight quarter of double-digit growth in charging revenue.
Key numbers
For the quarter ended September 30, EVgo reported:
- Charging network revenue: $71.8 million, up from $55.8 million a year earlier.
- Total revenue: $91.4 million, down 1% from $92.3 million, as eXtend revenue fell 49% to $16.2 million.
- Network throughput: 103 GWh, up 8%.
- Net loss: $49.2 million, compared with $28.4 million a year earlier.
- Adjusted EBITDA: a loss of $3.5 million, narrower than the $5.0 million loss a year earlier. This is a non-GAAP measure.
Network growth
EVgo ended the quarter with 5,530 stalls in operation, up 20% year over year. That total includes 4,020 public network stalls, 120 autonomous-vehicle fleet stalls and 1,390 eXtend stalls. The company added 160 new DC fast-charging stalls during the quarter.
Average daily throughput per public stall was 283 kWh, compared with 295 kWh a year earlier. EVgo said that excluding OEM charging programs, average throughput rose 7%. It added more than 95,000 customer accounts in the quarter and passed 1.9 million in total. As of November 6, it had more than 290 NACS (J3400) connectors in operation.
Other highlights in the release:
- Its first EVgo v4 Supercharger site is live in the Chicago area.
- A next-generation architecture capable of up to 750 kW is planned, with deployments expected to start in 2027.
- Expanded deals with Brixmor and Regency Centers will bring more than 900 new fast chargers to grocery-anchored shopping centers.
"This growth was the result of our multi-year efforts to strategically scale NACS across our network, add EVgo Superchargers, innovate to build the next-generation 750kW charging architecture, and expand partnerships with leading site hosts," said CEO Badar Khan.
Updated 2026 guidance
EVgo updated its full-year 2026 guidance to:
- 1,075 to 1,275 total new stalls
- $375 million to $400 million in total revenue
- Adjusted EBITDA of negative $30 million to negative $15 million
LS Power proposal
The release also says EVgo's board received an unsolicited, non-binding proposal on November 2 from LS Power Equity Advisors. LS Power offered $2.00 per share in cash for all Class A shares it does not already own. A special committee of independent directors is reviewing the offer, and EVgo said no decisions have been made.