EVgo Inc.

Listed Company

EVGOCIK 0001821159NasdaqAcceleratedServices-Automotive Repair, Services & ParkingDelawareFY ends Dec 31

Period

FY 2025

Revenue

$384.09M

Net Income

$-41.57M

Total Assets

$964.83M

Equity

$-116.90M

Shares Out

264.54M

Op. Cash Flow

$-7.73M

Business

EVgo Inc. is a leading public electric vehicle (EV) fast charging provider that builds, owns and operates networked charging infrastructure. It offers fast DC fast chargers (including high-power chargers), Level 2 chargers, retail charging, fleet and OEM charging services, white‑label EVgo eXtend installations, software features (Autocharge+, reservations, APIs) and the PlugShare platform. Its primary business segments include Retail Charging, OEM Charging and Related Services, Commercial/Fleet Charging, EVgo eXtend and software/ancillary services. EVgo operates across the United States in over 40 states through partnerships with retailers, Site Hosts, rideshare operators, OEMs and utilities, and via its mobile app and APIs.

Summary from filing dated 2025-03-06

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenue	384	257	161	55	—
Charging network	133	97	55	—	—
Other	111	84	64	—	—
Depreciation, net of capital-build amortization	59	46	32	19	—
Total cost of sales	303	227	151	60	29
Gross profit	81	29	10	−6	−7
General and administrative	177	141	143	127	71
Depreciation, amortization and accretion	15	20	20	17	—
Total operating expenses	191	161	163	144	83
Operating loss	−111	−132	−153	−150	−90
Interest expense	−6	−73,000	—	—	—
Interest income	7	8	10	4	—
Other expense, net	−22,000	−18,000	−10,000	−815,000	607,000
Change in fair value of earnout liability	920,000	−288,000	1	3	2
Change in fair value of warrant liabilities	8	−5	7	36	31
Total other income, net	10	3	18	43	32
Loss before income tax benefit	−101	−129	−135	−106	−58
Income tax benefit	5	2	−42,000	−18,000	—
Net loss	−95	−127	−135	−106	−58
Less: net loss attributable to redeemable noncontrolling interest	−54	−82	−93	−79	−52
Net loss attributable to Class A common stockholders	−42	−44	−42	−28	−6
Net loss per share to Class A common stockholders, basic (in dollars per share)	−0.31	−0.41	−0.46	−0.4	−0.09
Net loss per share to Class A common stockholders, diluted (in dollars per share)	−0.31	−0.41	−0.46	−0.4	−0.09

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	151	117	209	246	—
Restricted cash, current	50	3	472,000	772,000	—
Accounts receivable, net of allowance of $75 and $1,196 as of December 31, 2025 and 2024	39	46	35	—	—
Accounts receivable, capital-build	19	18	9	8	10
Prepaids and other current assets	38	21	14	10	—
Total current assets	296	205	267	275	506
Restricted cash, noncurrent	10	0	0	300,000	300,000
Property, equipment and software, net	461	415	389	308	133
Operating lease right-of-use assets	103	89	68	52	21
Other assets	31	24	2	2	3
Intangible assets, net	32	39	49	61	72
Goodwill	31	31	31	31	31
Total assets	965	804	807	730	746
Accounts payable	8	13	10	9	3
Accrued liabilities	60	43	41	39	27
Operating lease liabilities, current	8	7	6	5	—
Deferred revenue, current	55	46	32	16	5
Earnout liability, at fair value	22,000	0	—	—	—
Warrant liabilities, at fair value	1	0	—	—	—
Long-term debt, current	2	0	—	—	—
Other current liabilities	1	2	298,000	136,000	111,000
Total current liabilities	135	111	89	87	47
Operating lease liabilities, noncurrent	97	83	62	46	—
Asset retirement obligations	31	24	18	15	13
Capital-build liability	56	52	36	26	23
Deferred revenue, noncurrent	48	70	55	24	22
Earnout liability, at fair value	0	942,000	654,000	2	5
Warrant liabilities, at fair value	0	10	5	12	48
Long-term debt, noncurrent	204	0	—	—	—
Other long-term liabilities	8	9	—	—	146,000
Total liabilities	579	360	266	213	158
Commitments and contingencies (Note 11)	—	—	—	—	—
Redeemable noncontrolling interest	503	700	701	875	1,946
Preferred stock, $0.0001 par value; 10,000,000 shares authorized as of December 31, 2025 and 2024; none issued and outstanding	—	—	—	—	—
Additional paid-in capital	8	0	88	18	—
Accumulated deficit	−125	−256	−249	−376	−1,358
Total stockholders' deficit	−117	−256	−161	−358	−1,358
Total liabilities, redeemable noncontrolling interest and stockholders' deficit	965	804	807	730	746

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation, amortization and accretion	74	66	52	36	24
Net loss on disposal of property and equipment, net of insurance recoveries, and impairment expense	14	7	11	—	—
Share-based compensation	27	22	30	25	11
Bad debt expense	6	923,000	—	—	—
Paid-in-kind interest, amortization of deferred debt issuance costs, net of capitalized interest	4	73,000	—	—	—
Gain on sales-type lease	−3	0	—	—	—
Write off of equity issuance costs	800,000	0	—	—	—
Other	5,000	−104,000	34,000	777,000	761,000
Accounts receivable, net	1	−12	−24	−9	−195,000
Prepaids and other current assets and other assets	−17	−7	−3	−2	−6
Operating lease assets and liabilities, net	708,000	792,000	1	−519,000	—
Accounts payable	−6	5	654,000	1	−1
Accrued liabilities	12	3	8	7	7
Deferred revenue	−14	29	30	13	22
Other current and noncurrent liabilities	−3	−800,000	−142,000	−1	−737,000
Net cash used in operating activities	−8	−7	−37	−59	−30
Capital expenditures	−117	−95	−159	−200	−65
Proceeds from insurance for property losses	24,000	316,000	311,000	710,000	—
Net cash used in investing activities	−117	−94	−143	−200	−88
Proceeds from long-term debt	201	0	—	—	—
Proceeds from capital-build funding	15	17	14	10	3
Contribution from redeemable noncontrolling interest	10	7	—	—	—
Payments of withholding tax on net issuance of restricted stock units	−904,000	0	—	−25,000	—
Payments of deferred debt issuance costs	−10	−11	−286,000	—	—
Net cash provided by financing activities	215	13	143	20	595
Net increase (decrease) in cash, cash equivalents and restricted cash	90	−89	−37	−239	477
Interest paid	2	0	—	—	—
Income taxes paid	95,000	105,000	—	—	—
Non-cash adjustments to redeemable noncontrolling interest	153	74	−85	—	—
Capital expenditures in accounts payable and accrued liabilities	19	11	15	24	13
Non-cash increase in capital-build	17	26	16	9	—
Deferred debt issuance costs in accounts payable, accrued liabilities, other current liabilities and other liabilities	9	12	187,000	—	—
Paid-in-kind interest	6	0	—	—	—
Property and equipment recognized upon termination of a sales-type lease	4	0	—	—	—
Interest capitalized to property, equipment and software	4	0	—	—	—
Property and equipment derecognized for net investment in sales-type lease	3	0	—	—	—
Non-cash increase in asset retirement obligations	7	5	783,000	2	2
Share-based compensation capitalized to property, equipment and software	2	1	—	—	—

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