EVgo (EVGO) has just opened its Q1 2026 earnings season story with trailing 12 month revenue of about US$384.1 million and a basic EPS loss of US$0.31, setting a clear top line scale against an ongoing bottom line loss. Over recent quarters the company has seen quarterly revenue move from US$67.5 million in Q3 2024 to US$118.5 million in Q4 2025, while quarterly basic EPS has ranged from a loss of US$0.11 to a loss of US$0.04 over the same period. This frames a business that is adding revenue while still running at a net loss. For investors, the latest print puts the focus squarely on how fast revenue can keep building relative to persistent losses and what that means for the path to healthier margins.

See our full analysis for EVgo.

With the headline numbers on the table, the next step is to set them against the widely followed narratives about EVgo's growth potential, risk profile and path toward more sustainable margins.

Revenue Nears US$400 Million On Trailing Basis

• On a trailing twelve month view to Q4 2025, EVgo booked about US$384.1 million of revenue, up from US$239.3 million a year earlier, while net income over the same period was a loss of US$41.4 million compared with a loss of US$44.2 million.
• Supporters with a bullish view point to revenue forecasts of about 26.7% annual growth as validation of this recent move in trailing revenue. However, the fact that losses over the past five years have widened at roughly 37.9% per year creates tension between the growth story and the reality that the business is still running at a loss and not expected to reach profitability over the next three years.

Losses Persist Despite EPS Improvement Trend

• Quarterly basic EPS shifted from a loss of US$0.11 in Q3 2024 to a loss of US$0.04 in Q4 2025, and on a trailing twelve month basis EPS moved from a loss of US$0.42 in Q3 2024 to a loss of US$0.31 in Q4 2025. Yet net income over the latest twelve months was still a loss of US$41.4 million.
• Analysts with a consensus view expect EVgo to remain unprofitable over at least the next three years, and that lines up with the current pattern where trailing EPS is negative even as quarterly EPS loss per share has narrowed. For this group, the key question is whether the pace of revenue growth and cost efficiency is enough to eventually close a gap that has seen losses grow at an average rate of 37.9% per year over the past five years.

Valuation And Cash Runway Signal Higher Risk

• EVgo trades on a P/S ratio of 0.8x, compared with 0.6x for peers and 0.4x for the wider US Specialty Retail industry. The company also has less than one year of cash runway and a current share price of US$2.10 against an analyst consensus price target of US$4.75.
• Bears focus on this combination of a higher P/S multiple and limited cash runway, arguing that ongoing losses and the expectation that EVgo will not be profitable within the next three years raise the chance of future funding needs. This could matter a lot for investors who are weighing the consensus upside to US$4.75 against the reality that the business is still loss making on US$384.1 million of trailing revenue.

Skeptics argue that this mix of rich sales multiple and funding pressure could become more important than revenue forecasts if additional capital is needed before earnings turn positive, so it is worth seeing how the detailed cautious case lines up with your own expectations for the stock. 🐻 EVgo Bear Case

Next Steps

To see how these results tie into long-term growth, risks, and valuation, check out the full range of community narratives for EVgo on Simply Wall St. Add the company to your watchlist or portfolio so you'll be alerted when the story evolves.

Given this mix of cautious and optimistic signals, it makes sense to move quickly, review the underlying data and decide where you stand. To round out your view on the balance between concerns and potential upside, take a closer look at the 1 key reward and 2 important warning signs.

Explore Alternatives

EVgo combines ongoing net losses, a higher P/S ratio than peers and a short cash runway, which together point to elevated business and funding risk.

If that mix of higher risk and uncertainty makes you uneasy, it can be useful to compare with companies screened for resilience through the 72 resilient stocks with low risk scores.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.