Slide 1: EVgo Q3 2021 Earnings Call
Proprietary and Confidential - Do not Distribute 1 EVgo Q3 2021 Earnings Call November 10, 2021 Nasdaq: EVGO | investors.evgo.com
Slide 2: Safe Harbor & Forward Looking Statements
Proprietary and Confidential - Do not Distribute 2 Safe Harbor & Forward Looking Statements Forward - Looking Statements This presentation contains “forward - looking statements” within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995.
Slide 3: Definitions of Non-GAAP Financial Measures
Proprietary and Confidential - Do not Distribute Definitions of Non - GAAP Financial Measures This presentation includes the non - GAAP financial measures: “Adjusted COGS,” “Adjusted Gross Profit (Loss),” “Adjusted Gross Mar gin,” “EBITDA,” and “Adjusted EBITDA .” EVgo believes these measures are us
Slide 4: Strategic Overview
CONFIDENTIAL | 1 Strategic Overview Cathy Zoi, CEO 4
Slide 5: Strategic Overview and Key Updates
Proprietary and Confidential - Do not Distribute Strategic Overview and Key Updates 5 Q3'21 was EVgo's highest network throughput quarter ever, with 8.0 gigawatt - hours of network demand, representing 31% QoQ growth Stalls in operation reached 1,595 at the end of Q3, with 47 new stalls in operation
Slide 6: Recent Strategic Highlights
Proprietary and Confidential - Do not Distribute 6 Recent Strategic Highlights Focusing on the customer through innovation • Introduction of EVgo Optima TM - a sophisticated fleet management software platform that includes optimization of energy demand, cost structures, and grid conditions that are
Slide 7: Financial and Operational Overview
CONFIDENTIAL | 2 Financial and Operational Overview Olga Shevorenkova, CFO 7
Slide 8: Key Operational Highlights
Proprietary and Confidential - Do not Distribute 8 Key Operational Highlights Expanding Customer Base with more than 310,000 customer accounts at the end of Q3 2021, driven by strong EV sales And a Growing Network Throughput, 31% QoQ sequential growth driven by the accelerating EV adoption and ongoi
Slide 9: Quarterly Revenue Update
Proprietary and Confidential - Do not Distribute 9 Quarterly Revenue Update ($ in ‘000s) • Revenue growth of 29% QoQ • Revenue on track to meet or exceed full - year targets • Retail, Fleet and Ancillary segments are key contributors to the growth Revenue Breakdown ($ in ‘000s) • Fleet charging reve
Slide 10: Quarterly Revenue, Margin and Cash Flow Update
Proprietary and Confidential - Do not Distribute 10 Quarterly Revenue, Margin and Cash Flow Update Financial Highlights (Cont.) • Change of presentation of certain costs, reclassifying network platform service fees, certain storage and freight costs, pre - operational rent/license fees, call center
Slide 11: Revenue and Adjusted COGS Breakdown
Proprietary and Confidential - Do not Distribute • Helping investors understand income statement items and components • Revenue Breakdown • Adjusted COGS Breakdown • Recent EV rate changes in Arizona, Connecticut, Illinois, California drive ~20% energy cost reduction in those utility territories • F
Slide 12: 2021 Guidance
Proprietary and Confidential - Do not Distribute 12 2021 Guidance We are updating key 2021 financial forecast figures: Key Metrics Prior 2021 Guidance Revised 2021 Guidance Network Thoughput 24 GWh 24-26 GWh Revenue $20 million $20-22 million Adjusted EBITDA ($58 million) ($58-54 million) New DC Sta
Slide 13: Appendix: Reconciliation of Non-GAAP Measures to GAAP, Summary Financials
Proprietary and Confidential - Do not Distribute 3 Appendix Reconciliation of Non - GAAP Measures to GAAP , Summary Financials 13
Slide 14: Reconciliation of Non-GAAP Measures to GAAP
Proprietary and Confidential - Do not Distribute 14 Reconciliation of Non - GAAP Measures to GAAP Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 GAAP Gross Profit / (Loss) ($1,522) ($2,124) ($2,547) ($2,852) ($1,678) ($1,675) ($1,653) Less: Site Depreciation & ARO Accretion $2,095 $2,255 $2
Slide 15: Reconciliation of Non-GAAP Measures to GAAP (cont'd)
Proprietary and Confidential - Do not Distribute 15 Reconciliation of Non - GAAP Measures to GAAP (cont’d) Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Net Income ($14,810) ($10,406) ($7,476) ($15,519) ($16,610) ($18,421) $23,591 + Taxes 8 (1) (11) 7 (1) 1 – + Depreciation, ARO, Amortizat
Slide 16: Change in Presentation of Certain Costs from COGS into G&A
Proprietary and Confidential - Do not Distribute Change in Presentation of Certain Costs from COGS into G&A 16 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Adjusted Gross Profit / (Loss) - As Previously Reported * ($441) ($711) ($735) ($1,205) ($162) ($61) $217 Adjusted COGS Reclassificat
Slide 17: Balance Sheets
Proprietary and Confidential - Do not Distribute 17 Balance Sheets
Slide 18: Balance Sheets (Cont.)
Proprietary and Confidential - Do not Distribute 18 Balance Sheets (Cont.)
Slide 19: Statements of Operations
Proprietary and Confidential - Do not Distribute 19 Statements of Operations
Slide 20: Cash Flow Statements
Proprietary and Confidential - Do not Distribute 20 Cash Flow Statements
Slide 21: Cash Flow Statements (Cont.)
Proprietary and Confidential - Do not Distribute 21 Cash Flow Statements (Cont.)