EVGO

EX-99.1

2 exhibit991evgoearningsrele.htm

EX-99.1

Document

Exhibit 99.1

EVgo Inc. Reports Second Quarter 2026 Results

Total Q2 Charging Network Revenues Increased 19% Year-Over-Year

•Charging network revenue totaled $61 million in the second quarter, an increase of 19% year-over-year, representing the 18th consecutive quarter of double-digit year-over-year charging revenue growth.

•Network throughput reached 99 gigawatt-hours (“GWh”) in the second quarter, an increase of 13% year-over-year.

•Ended the second quarter with 5,380 stalls in operation, an increase of 24% year-over-year.

•Signed agreement with Tesla to deploy EVgo Superchargers

LOS ANGELES – August 5, 2026 — EVgo Inc. (Nasdaq: EVGO) (“EVgo” or the “Company”), one of the nation’s largest providers of public fast charging infrastructure for electric vehicles (EVs), announced results for the second quarter ended June 30, 2026. Management will host a webcast today at 8 a.m. ET / 5 a.m. PT to discuss EVgo’s results and other business highlights.

"EVgo delivered another quarter of solid execution, with 19% charging network revenue growth and continued expansion of our nationwide fast-charging platform," said Badar Khan, CEO of EVgo. "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."

Business Highlights

•EVgo Superchargers: EVgo and Tesla signed an agreement to deploy EVgo-owned and branded V4 Superchargers starting in 2026. Each site is expected to have up to 20 stalls located near everyday destinations like retail shops and restaurants. EVgo Superchargers will appear on the in-car Tesla navigation and Tesla Trip Planner.

•Stall Development: Ended the second quarter with 5,380 stalls in operation. EVgo added 280 new DC fast charging stalls during the quarter offset by 175 removals of legacy equipment under the Company's Renew program.

•Average Daily Network Throughput: Average daily throughput per stall for the EVgo public network was 276 kilowatt hours per day in the second quarter of 2026, compared to 281 kilowatt hours per day in the second quarter of 2025.

•Customer Accounts: Added over 99,000 new customer accounts in the second quarter, with over 1.8 million total customer accounts at the end of the quarter.

•J3400 (NACS) Connectors: 240 NACS connectors in operation as of July 31, 2026.

•EVgo Next Generation Charging Architecture: Finalized the design of the Company's next generation charging equipment and testing underway with demonstrated high current charging on multiple vehicle models.

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Q2'26Q2'25ChangeQ2'26 YTDQ2'25 YTDChange

(unaudited, dollars in thousands)

Network throughput (GWh)998813%19017210%

Revenue$82,648$98,030(16)%$192,179$173,31711%

Gross profit$7,342$13,908(47)%$20,300$23,231(13)%

Gross margin8.9%14.2%(530) bps10.6%13.4%(280) bps

Net loss$(46,342)$(29,821)55%$(83,323)$(56,048)49%

Adjusted Gross Profit1 $26,283$28,359(7)%$55,916$53,7294%

Adjusted Gross Margin1 31.8%28.9%290 bps29.1%31.0%(190)bps

Adjusted EBITDA1 $(10,573)$(1,933)447%$(18,050)$(7,862)130%

1Non-GAAP measure. See Appendix for reconciliation.

Q2'26Q2'25ChangeQ2'26 YTDQ2'25 YTDChange

(unaudited, dollars in thousands)

Cash flows provided by (used in) operating activities$(6,484)$14,089 (146)%$(41,852)$3,843 (1189)%

GAAP capital expenditures$33,823 $26,199 29%$64,398 $41,191 56%

Capital offsets:

OEM infrastructure payments1,352 1,898 (29)%3,567 6,873 (48)%

Proceeds from capital-build funding5,170 7,180 (28)%8,366 9,051 (8)%

Total capital offsets6,522 9,078 (28)%11,933 15,924 (25)%

Capital Expenditures, Net of Capital Offsets1 $27,301 $17,121 59%$52,465 $25,267 108%

1Non-GAAP measure. See Appendix for reconciliation.

6/30/20266/30/2025Change

Stalls in operation:

EVgo public network1 3,9303,48013%

EVgo AV network2 1201109%

EVgo eXtend™ 3 1,33076075%

Total stalls in operation5,3804,35024%

1 Stalls at publicly available charging stations that we own and operate on our network.

2 Stalls at charging stations that we own and operate on our network that are only available to AV fleet customers.

3 Stalls at eXtend are EV charging stations built via partnerships for use by their customers with assets serviced through, and often cobranded with, our national network.

2026 Guidance

EVgo is updating full year 2026 guidance as follows:

•Total new stalls of 1,350 - 1,625

•Total revenue of $400 – $430 millio

evgo-20260505

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 5, 2026

EVgo Inc.

(Exact name of registrant as specified in its charter)

Delaware001-3957285-2326098

(State or other jurisdiction of incorporation)(Commission File Number)(I.R.S. Employer Identification No.)

1661 East Franklin Avenue

El Segundo, CA 90245

(Address of principal executive offices)(Zip Code)

Registrant’s telephone number, including area code: (877) 494-3833

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

oWritten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

oPre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered

Shares of Class A common stock, $0.0001 par value per shareEVGOThe Nasdaq Global Select Market

Redeemable warrants, each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50EVGOWThe Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

Emerging growth company o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 2.02. Results of Operations and Financial Condition.

On May 5, 2026, EVgo Inc. (the “Company”) issued a press release, announcing its financial results for the first quarter ended March 31, 2026. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.

The information furnished under Item 2.02 of this Current Report on Form 8-K (including exhibit 99.1) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of such section, nor shall such information be deemed incorporated by reference in any filing under the Exchange Act or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01. Financial Statements and Exhibits.

(d)Exhibits.

Exhibit NumberDescription

99.1

Press Release, dated May 5, 2026.

104Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

EVgo Inc.

Date: May 5, 2026By: /s/ Keefer Lehner

Name:Keefer Lehner

Title:Chief Financial Officer

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EX-99.1

2 evgo-20260303xex99d1.htm

EX-99.1

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Exhibit 99.1

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EVgo Inc. Reports Record Fourth Quarter and Full Year 2025 Results

Total Q4 Revenues Increased 75% with Record Charging Network Revenue of $64 Million

Initiates 2026 guidance of $410 - $470 Million of Revenue and $(20) - $20 Million of Adjusted EBITDA1

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●Total revenue of $118 million in the fourth quarter, representing an increase of 75% year-over-year.

●For the full year 2025, revenue reached $384 million, an increase of 50% over the full year 2024.

●Charging network revenue totaled a record $64 million in the fourth quarter, an increase of 37% year-over-year, representing the 16th consecutive quarter of double-digit year-over-year charging revenue growth.

●For the full year 2025, charging network revenue reached $218 million, an increase of 40% over the full year 2024.

●Network throughput reached 99 gigawatt-hours (“GWh”) in the fourth quarter, an increase of 18% year-over-year.

●Network throughput for the full year 2025 increased to 366 GWh, an increase of 32% over the full year 2024.

●Added more than 500 new operational stalls during the fourth quarter and over 1,200 operational stalls for the full year 2025.

●Ended the fourth quarter with 5,100 stalls in operation, an increase of 25% year-over-year.

●$211 million in cash, cash equivalents, and restricted cash as of December 31, 2025.

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LOS ANGELES – March 3, 2026 — EVgo Inc. (Nasdaq: EVGO) (“EVgo” or the “Company”) one of the nation’s largest providers of public fast charging infrastructure for electric vehicles (EVs) announced results for the fourth quarter ended December 31, 2025. Management will host a webcast today at 8 a.m. ET / 5 a.m. PT to discuss EVgo’s results and other business highlights.

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“In 2025, EVgo established its position as one of the leading and fastest growing public charging network operators in the U.S.,” said Badar Khan, EVgo’s CEO. “Our operations team placed more than 500 new stalls online in Q4 alone, bringing our year end total to 5,100 stalls and giving EV drivers even more choice and convenience. We also achieved our goal of delivering positive Adjusted EBITDA for both the fourth quarter and full year 2025 – an important milestone for the Company.”

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1

A reconciliation of projected Adjusted EBITDA (non-GAAP) to net income (loss), the most directly comparable GAAP measure, is not provided because certain measures, including share-based compensation expense, which is excluded from Adjusted EBITDA, cannot be reasonably calculated or predicted at this time without unreasonable efforts. For a definition of Adjusted EBITDA, please see “Definitions of Non-GAAP Financial Measures” included elsewhere in this release.

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“As we move into 2026, we’re investing in long-term value creation opportunities by focusing on accelerating our pace of deployment, scaling NACS connectors across the network, enhancing the customer experience, leveraging key partnerships, and launching our next generation charging architecture to the broader EV market. Our disciplined approach to capital allocation combined with a growing competitive moat and industry tailwinds will enable us to deliver even stronger returns and sustainable value for our shareholders.”

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Business Highlights

●Stall Development: The Company ended the fourth quarter with 5,100 stalls in operation. EVgo added more than 500 new DC fast charging stalls during the quarter, setting EVgo up for success as the Company focuses on expanding to local retailers including Kroger in 2026.

●Average Daily Network Throughput: Average daily throughput per stall for the EVgo public network was 292 kilowatt hours per day in the fourth quarter of 2025, an increase of 9% compared to 269 kilowatt hours per day in the fourth quarter of 2024.

●EVgo Autocharge+: Autocharge+ accounted for 30% of total charging sessions initiated in the fourth quarter of 2025.

●Customer Accounts: Added over 93,000 new customer accounts in the fourth quarter, with a total of 1.6 million total customer accounts at the end of the quarter.

●J3400 (NACS) Connectors: NACS connectors in operation at nearly 100 stalls in total as of December 31, 2025.

●PlugShare: PlugShare reached 7.8 million registered users and achieved 10.1 million check-ins since inception.

●Ancillary Contract Closeout: Fourth quarter and full year 2025 revenue and Adjusted EBITDA include a non-recurring ancillary contract closeout payment for $25.9 million and $24.1 million, respectively.

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(unaudited, dollars in thousands)

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Q4'25

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Q4'24

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Change

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FY 2025

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FY 2024

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Change

Network throughput (GWh)

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99

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84

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18%

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366

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277

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32%

Revenue

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$

118,470

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$

67,513

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75%

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$

384,086

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$

256,825

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50%

Gross profit

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$

44,986

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$

9,760

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361%

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$

80,777

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$

29,367

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175%

Gross margin

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38.0%

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14.5%

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2,350 bps

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21.0%

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