EVgo (EVGO) has just posted another loss making quarter, with Q3 FY 2025 revenue of US$92.3 million alongside basic EPS of a US$0.09 loss and net income of a US$12.3 million loss, while the trailing twelve months show revenue of US$333.1 million and basic EPS of a US$0.38 loss. Over recent quarters the company has seen revenue move from US$66.6 million in Q2 FY 2024 to US$67.5 million in Q3 FY 2024, then to US$67.5 million in Q4 FY 2024, and up to US$75.3 million, US$98.0 million and US$92.3 million across Q1, Q2 and Q3 FY 2025, with quarterly EPS losses ranging between US$0.09 and US$0.11. For investors, the focus is on whether that expanding top line can eventually support more efficient margins, given that the current numbers keep attention on how long the company can absorb ongoing losses.

See our full analysis for EVgo.

With the latest figures on the table, the next step is to see how this trajectory lines up with the most widely held narratives about EVgo, and where the numbers start to push back on those stories.

US$333 million in trailing revenue versus US$48.9 million in losses

• On a trailing 12 month basis, EVgo has generated US$333.1 million of revenue while recording a net loss of US$48.9 million and a basic EPS loss of US$0.38, so the business is clearly bringing in sales but not yet covering its costs.
• Consensus narrative highlights revenue growth as the main positive, yet the continuing losses on both the quarterly line, with net income between US$10.3 million and US$12.9 million of losses for each of the last six quarters, and on the trailing 12 month view point to a business still working to turn that growth into sustainable profitability.
  • Analysts are expecting revenue to grow roughly 24% per year, but profitability metrics over the past five years have moved in the opposite direction with losses expanding at about 43.5% per year.
  • That mix of growing revenue and larger losses is exactly what the consensus narrative is wrestling with, as investors weigh the appeal of higher throughput against the reality that the business model has not yet produced positive net earnings.

Share price at US$2.68 versus 6.43 analyst target

• With the share price at US$2.68 and the analyst consensus target at US$6.43, the market price sits below what those forecasts imply, while the company trades on a P/S of about 1.1x compared with 0.5x for the US Specialty Retail industry and 0.6x for peers.
• Bulls argue that higher revenue growth and improving capital efficiency can justify that richer P/S multiple, but the current financials also leave room for questions about how much optimism is already baked in.
  • On the growth side, bullish narratives look to faster revenue expansion, with some expecting around 39.6% annual growth, set against a consensus nearer to 29.6% and the 24% figure in the trailing 12 month context.
  • At the same time, the company remains loss making on trailing numbers, with US$48.9 million in net losses, which means the premium P/S ratio is being supported by expectations of future margin progress rather than current profitability.

On results like these, bulls say the gap between US$2.68 and their more optimistic scenarios reflects long term growth that the current price only partly recognizes, while others point to the richer P/S multiple as a sign the bar is already set high for EVgo to prove itself. 🐂 EVgo Bull Case

Less than one year of cash runway with ongoing losses

• EVgo has less than one year of cash runway while still reporting quarterly net losses of roughly US$10 million to US$13 million and trailing 12 month losses of US$48.9 million, so financing capacity is a key factor in how the story plays out from here.
• Bears focus on this tight cash position and the history of widening losses, arguing that continued expansion could require more external funding and keep pressure on shareholders.
  • Risk analysis flags the company as unprofitable and forecast to remain so over the next three years, which aligns with the pattern of basic EPS losses between US$0.09 and US$0.11 per share each quarter in the data provided.
  • With cash runway under one year and losses growing at around 43.5% per year over five years, critics see a material chance that funding needs become a central part of the story, alongside any operational progress.

Skeptics point to that combination of less than a year of cash runway and ongoing losses as the core reason they are cautious on EVgo even with the revenue growth, and they watch closely for any further capital raises or shifts in spending plans. 🐻 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.

If this mix of optimism and caution feels familiar, it is a good time to look through the numbers yourself and move quickly to shape your own view. You can start with 1 key reward and 2 important warning signs.

See What Else Is Out There

EVgo is still loss making with under one year of cash runway and a history of expanding losses, so funding risk remains a central concern.

If that tight cash position worries you, it is worth checking companies that score well for financial resilience using our solid balance sheet and fundamentals stocks screener (40 results) today to compare sturdier options.

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.