EVgo Q2 Preview: I Want To See Signs Of Inflection Before Deploying Capital

EVgo Inc. remains a "Hold" as profitability hurdles and uncertain EV adoption cloud near-term prospects despite a 21% share price decline. Q2 revenue is expected to decline 16% year-over-year, with management guiding $80–$85 million and adjusted EBITDA still negative, reflecting ongoing operational challenges. Stall growth continues, but slow NACS connector rollout and capital-intensive expansion raise concerns about unit economics and long-term demand. I favor the asset-light eXtend business model but remain cautious until EV adoption accelerates and guidance tightens or improves.

EVgo Inc. (EVGO) is due to report its Q2 ’26 numbers at the end of this month, and since it has been around three months since the last time I covered it, I wanted to revisit the company and go through what needs to be on the radar.