Slide 1: EVgo Q2 2022 Earnings Call
EVgo Q2 2022 Earnings Call August 9, 2022 Nasdaq: EVGO | investors.evgo.com
Slide 2: Safe Harbor & Forward Looking Statements
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. Forward-looking statements may be identified by the us
Slide 3: Definitions of Non-GAAP Financial Measures
Definitions of Non-GAAP Financial Measures This press release includes the non-GAAP financial measures: “Adjusted COGS,” “Adjusted Gross Profit (Loss),” “Adjusted Gross Margin,” “EBITDA,” and “Adjusted EBITDA,” EVgo believes these measures are useful to investors in evaluating EVgo’s financial perfo
Slide 4: Strategic Overview
1 Strategic Overview Cathy Zoi, CEO 4
Slide 5: Snapshot of EVgo's Market Leading Position
Snapshot of EVgo’s Market Leading Position Market leader in clean mobility electrification – backed by 100% renewable power 8 OEM Partners 100% Engaged by multiple OEMs for Renewable energy partnerships ranging from charging powered credit and infrastructure buildout, to marketing and data integrati
Slide 6: Key Business Highlights
Key Business Highlights Accelerating growth and investment in network along with expansion of EVgo’s eXtend offering Stalls in operation or under construction reached 2,397 by June Stalls in Operation or Under Construction 2,397 30, with 170 newly operational stalls in Q2 (H1’22 total of 299 surpass
Slide 7: EVgo Begins Major eXtend Project with Pilot Company & GM
EVgo Begins Major eXtend Project with Pilot Company & GM; Announces Major Charger Supply Agreement • Capital-light third-party ownership model – approach de-risks near-term revenue while opening new markets, partners and customers to EVgo at an accelerated rate • Under terms of Pilot Company and GM
Slide 8: Connecting the Watts: Working Together with Key Stakeholders
Connecting the Watts: Working Together with Key Stakeholders to Grow EV Charging • General Services Administration (GSA) Blanket Purchase Agreement (BPA): • EVgo and OSC~WEBco working together as one of 16 BPA award winners • Biden-Harris administration has set aside up to $750 million in proposed f
Slide 9: Technology-Enabled Innovation & Growth
Technology-Enabled Innovation & Growth Charger Operations Autocharge+ PlugShare EVgo Innovation Lab & Reliability • Eliminating the need to manually • Exceeded 2.5 million registered • Operating since 2021, Innovation • 12 years of fast-charging history, initiate a charge and payment subscribers in
Slide 10: Financial and Operational Overview
2 Financial and Operational Overview Olga Shevorenkova, CFO 10
Slide 11: Key Operational Highlights
Key Operational Highlights Active E&C Stall Development Pipeline EVgo Customer Accounts (000s) Revenue ($MM) +78% +90% Continued focus on execution in Q2’22 • 78% year-over-year growth in Active E&C Stall Development Pipeline as backlog growth continues while construction activity accelerates • Cust
Slide 12: Key Financial Highlights
Key Financial Highlights Quarterly Revenue, Margin and Cash Flow Update • Revenues grew 90%, driven by retail charging, OEM network ($ in 000s) Q2'22 Q2'21 revenue, and regulatory credit sales Network Throughput (GWh) 10.1 6.1 • OEM network revenue driven by the booking of higher Revenue $9,076 $4,7
Slide 13: Understanding Cash Flow Generation
Understanding Cash Flow Generation Core Build-Own-Operate Characteristics EVgo eXtend Characteristics • Upfront capex incursion, but long-term asset base with meaningful operating • No upfront cash outlay, more moderate long-term cash flows leverage • Expect immediate operating cash flow generation
Slide 14: 2022 Guidance
2022 Guidance Affirming key 2022 financial and operational forecast figures: Revenue $48-55MM Network Throughput 50-60 GWh Adjusted EBITDA ($75)-($85)MM Total Stalls in Operation or Under Construction as of YE 2022 3,000-3,300 14
Slide 15: Appendix
3 Appendix Reconciliation of Non-GAAP Measures to GAAP, Summary Financials 15
Slide 16: Revenue Disaggregation
Revenue Disaggregation ($ 000s) Q2'22 Q2'21 Charging revenue, retail $4,389 $2,498 Charging revenue, OEM $189 $150 Charging revenue, commercial $654 $546 Network revenue, OEM $887 $275 Ancillary revenue $829 $639 Regulatory credit sales $2,128 $675 Total Revenue $9,076 $4,783 16
Slide 17: Reconciliation of Non-GAAP Measures to GAAP
Reconciliation of Non-GAAP Measures to GAAP ($ 000s) 17
Slide 18: Reconciliation of Non-GAAP Measures to GAAP (Cont'd)
Reconciliation of Non-GAAP Measures to GAAP (Cont’d) ($ 000s) 18
Slide 19: Financial Statements: Balance Sheets
Financial Statements: Balance Sheets June 30, December 31, 2022 2021 (in thousands) (unaudited) Assets Current assets Cash, restricted cash and cash equivalents $ 344,707 $ 484,881 Short-term investments 27,776 — Total cash, restricted cash, cash equivalents and short-term investments 372,483 484,88
Slide 20: Financial Statements: Consolidated Statements of Operations
Financial Statements: Consolidated Statements of Operations Three Months Ended Six Months Ended June 30, June 30, (in thousands, except per share data) 2022 2021 2022 2021 Revenue $ 9,076 $ 4,783 $ 16,776 $ 8,352 Revenue from related party — — — 562 Total revenue 9,076 4,783 16,776 8,914 Cost of rev
Slide 21: Financial Statements: Consolidated Statements of Cash Flows
Financial Statements: Consolidated Statements of Cash Flows Six Months Ende d June 30, (in thousands) 2022 2021 Cash flows from operating activities Net loss $ (38,269) $ (35,032) Adjustments to reconcile net loss to net cash used in operating activities Depreciation, amortization and accretion 15,5
Slide 22: Financial Statements: Consolidated Statements of Cash Flows (Cont'd)
Financial Statements: Consolidated Statements of Cash Flows (Cont’d) Six Months Ended June 30, (in thousands) 2022 2021 Supplemental disclosure of noncash investing and financing activities Accrued transaction costs $ — $ 4,870 Asset retirement obligations incurred $ 3,111 $ 787 Non-cash increase in