EZGO Technologies Ltd. (EZGO) Revenue History
Annual and quarterly revenue from 2018 to present
EZGO Revenue Over Time (2018–2025)
EZGO Revenue Growth History
5 of 7 years with positive growth- FY2018 revenue growth
- N/A
- FY2019 revenue growth
- +62.7%
- FY2020 revenue growth
- +193.5%
- FY2021 revenue growth
- +53.7%
- FY2022 revenue growth
- -25.8%
- FY2023 revenue growth
- -47.3%
- FY2024 revenue growth
- +98.9%
- FY2025 revenue growth
- +12.4%
| Quarter | Revenue | YoY |
|---|---|---|
| Q4 2025 | $13.9M | +21.9% |
| Q2 2025 | $6.6M | -3.5% |
| Q4 2024 | $11.4M | +6.1% |
| Q2 2024 | $6.8M | +31.8% |
| Q4 2023 | $10.8M | -5.3% |
| Q2 2023 | $5.2M | -14.4% |
| Q4 2022 | $11.4M | -17.8% |
| Q2 2022 | $6.0M | -34.3% |
Revenue Breakdown (FY 2025)
EZGO's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
EZGO Revenue Analysis (2018–2025)
Current Revenue & Growth
As of June 28, 2026, EZGO Technologies Ltd. (EZGO) generated trailing twelve-month (TTM) revenue of $38.7 million, reflecting exceptional growth of +21.9% year-over-year. The most recent quarter (Q4 2025) recorded $13.9 million in revenue, up 112.0% sequentially.
Historical Growth Trajectory
EZGO's 5-year compound annual growth rate (CAGR) stands at +6.1%, indicating steady revenue expansion. The 3-year CAGR of +5.6% is in line with the 5-year average, suggesting consistent growth. EZGO Technologies Ltd.'s highest annual revenue of $23.4 million was recorded in 2021.
Revenue by Segment
EZGO's revenue is primarily driven by Other Member (52%), and Maintenance Services Member (48%). With over half of revenue concentrated in Other Member, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Consumer Cyclical sector peers — including AIOT (+22.4% YoY), WKHS (+320.7% YoY), and NIU (+30.7% YoY) — EZGO has underperformed the peer group in revenue growth. Compare EZGO vs AIOT →
EZGO Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| EZGOCurrent | $39M | +21.9% | +6.1% | -9.5% | |
 AIOT | $444M | +22.4% | +31.3% | 4.4% | |
 WKHS | $21M | +320.7% | +72.4% | -223.7% | |
 NIU | $4.2B | +30.7% | +11.4% | -2.1% | |
 KNDI | $87M | -22.3% | +2.6% | -47.3% | |
 XPEV | $74.6B | +66.4% | +66.4% | -5.8% |
EZGO Historical Revenue Data (2018–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $20.5M | +12.4% | $1.3M | 6.5% | $-1,953,818 | -9.5% |
| 2024 | $18.2M | +98.9% | $1.7M | 9.3% | $-2,333,500 | -12.8% |
| 2023 | $9.2M | -47.3% | $1.0M | 11.3% | $-3,186,786 | -34.8% |
| 2022 | $17.4M | -25.8% | $219K | 1.3% | $-6,462,607 | -37.2% |
| 2021 | $23.4M | +53.7% | $382K | 1.6% | $-3,877,419 | -16.6% |
| 2020 | $15.2M | +193.5% | $1.5M | 10.1% | $72K | 0.5% |
| 2019 | $5.2M | +62.7% | $3.2M | 61.2% | $2.2M | 43.3% |
| 2018 | $3.2M | - | $1.5M | 47.7% | $1.1M | 33.2% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
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Peer Comparison
Compare growth, multiples, and margins vs sector.
EZGO — Frequently Asked Questions
Quick answers to the most common questions about buying EZGO stock.
Is EZGO's revenue growth accelerating or slowing?
EZGO revenue growth is accelerating. TTM revenue reached $39M, up +21.9% year-over-year — ahead of the 5-year CAGR of +6.1%. This indicates the business is expanding faster than its historical baseline.
What is EZGO's revenue history from 2018 to 2026?
EZGO Technologies Ltd. (EZGO) revenue history spans 2018 to 2026. TTM revenue as of 2026 is $39M, growing at +21.9% YoY. The 5-year CAGR is +6.1%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is EZGO's long-term revenue growth rate (CAGR)?
EZGO Technologies Ltd.'s 5-year revenue CAGR of +6.1% reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +21.9% is above this long-term average. CAGR is the most reliable measure of sustained revenue momentum for EZGO.
Why does EZGO's quarterly revenue fluctuate?
EZGO quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. EZGO Technologies Ltd.'s revenue data from 2018 to 2026 shows full historical quarterly detail on this page.
How is EZGO's revenue distributed by segment?
EZGO reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does EZGO's revenue compare to industry peers?
EZGO Technologies Ltd. (EZGO) with TTM revenue of $39M and +21.9% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.