Evgo Inc. · NASDAQ:EVGO
Evgo — Q1 2022 Earnings Presentation
21 slides from Evgo's earnings presentation, May 11, 2022
Slide 1: EVgo Q1 2022 Earnings Call
EVgo Q1 2022 Earnings Call May 11, 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,” “Adjusted EBITDA,” and “Adjusted EBITDA Margin.” EVgo believes these measures are useful to investors in evaluat
Slide 4: Strategic Overview
1 Strategic Overview Cathy Zoi, CEO
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: Q1 2022 Key Operational Highlights
Q1 2022 Key Operational Highlights On track to hit 2022 guidance as expected growth, seasonal, and macro Revenue ($MM) factors help drive Q1’22 results • YoY Revenue grew 86% to $7.7 million, driven by charging demand, +86% ancillary and regulatory credit sales growth • Q1’22 network throughput was
Slide 7: Blue Ribbon Partnerships Across the EV Landscape Expand in Q1
Blue Ribbon Partnerships Across the EV Landscape Expand in Q1 • Toyota and Subaru Charging agreements move into implementation with Toyota's bZ4X customers and Subaru's Solterra customers • Chase Bank partnership to deploy fast chargers at 50 retail branch locations; broke ground at first site in In
Slide 8: Growth of EVgo's Software Offerings
Growth of EVgo’s Software Offerings Enhancing the Charging Experience EVgo InsideTM EVgo ReservationsTM • Launched in Q1’22 • Growing number of EVgo drivers • Embedding EVgo into 3rd party utilizing the ability to reserve a brands (OEMs, Service Providers) charger to enhance visibility, planning, an
Slide 9: Financial and Operational Overview
2 Financial and Operational Overview Olga Shevorenkova, CFO
Slide 10: Key Operational Highlights
Key Operational Highlights Stalls in Operation or Under Construction Active E&C Stall Development Pipeline Continued focus on execution in Q1 • Stalls in operation or under +23% +126% construction grew 23% YoY as investment in pipeline and deployment process becoming impactful • New stalls in 12 sta
Slide 11: Key Financial Highlights
Key Financial Highlights Quarterly Revenue, Margin and Cash Flow Update ($ in 000s) Q1'22 Q1'21 • Revenue increase 86% YoY as charging revenues (+66%), ancillary revenues (+265%), and regulatory credit sales Network Throughput (GWh) 8.0 4.1 (+142%) drove growth Revenue $7,700 $4,130 GAAP Gross Profi
Slide 12: 2022 Guidance
2022 Guidance Affirming key 2022 financial and operational forecast figures: • Q1 2022 consistent with Revenue $48-55MM revenue ramp-up expectation • Ramping of deployment Network Throughput 50-60 GWh activity and demand showing up on the network • Ending Q1 with over 2,100 Adjusted EBITDA ($75)-($8
Slide 13: Appendix
3 Appendix Reconciliation of Non-GAAP Measures to GAAP, Summary Financials
Slide 14: Reconciliation of Non-GAAP Measures to GAAP
Reconciliation of Non-GAAP Measures to GAAP ($ 000s) Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 GAAP Gross Profit / (Loss) ($1,678) ($1,675) ($1,653) ($1,824) ($600) + Site Depreciation & ARO Accretion $2,447 $2,705 $3,020 $3,814 $3,454 + Stock Option Expense and Other (6) (6) 3 7 2 Adjusted Gross Prof
Slide 15: Reconciliation of Non-GAAP Measures to GAAP (Cont'd)
Reconciliation of Non-GAAP Measures to GAAP (Cont’d) ($ 000s) Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Net Income ($16,610) ($18,421) $23,591 ($46,322) ($55,266) + Taxes – – – – 5 + Depreciation, ARO, Amortization 4,957 5,250 6,414 7,280 7,341 + Interest Income / Expense 875 1,038 (22) (35) (55) EBIT
Slide 16: Change of Presentation of Certain Costs from Cost of Sales into G&A
Change of Presentation of Certain Costs from Cost of Sales into G&A ($ 000s) Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Adjusted Gross Profit / (Loss) - As Previously ($162) ($61) $217 $669 $1,140 Reported * Adjusted COS Reclassification to G&A 925 1,085 1,153 1,328 1,716 Adjusted Gross Profit / (Loss)
Slide 17: Financial Statements: Balance Sheets
Financial Statements: Balance Sheets March 31, December 31, 2022 2021 (in thousands) (unaudited) Assets Current assets Cash and restricted cash $ 441,079 $ 484,881 Accounts receivable, net 2,815 2,559 Accounts receivable, capital build 7,902 9,621 Receivable from related party — 1,500 Prepaid expens
Slide 18: Financial Statements: Balance Sheets (Cont'd)
Financial Statements: Balance Sheets (Cont’d) March 31, December 31, 2022 2021 (in thousands, except share data) (unaudited) Redeemable noncontrolling interest 2,517,988 1,946,252 Stockholders’ deficit Preferred stock, $0.0001 par value; 10,000,000 shares authorized as of March 31, 2022 and December
Slide 19: Financial Statements: Consolidated Statements of Operations
Financial Statements: Consolidated Statements of Operations Three Months Three Months Ended Ended March 31, March 31, (in thousands, except per share data) 2022 2021 Revenue $ 7,700 $ 3,569 Revenue from related party — 561 Total revenue 7,700 4,130 Cost of revenue 4,846 3,361 Depreciation and amorti
Slide 20: Financial Statements: Consolidated Statements of Cash Flows
Financial Statements: Consolidated Statements of Cash Flows Three Months Three Months Ended Ended March 31, March 31, (in thousands) 2022 2021 Cash flows from operating activities Net loss $ (55,266) $ (16,610) Adjustments to reconcile net loss to net cash (used in) provided by operating activities
Slide 21: Financial Statements: Consolidated Statements of Cash Flows (Cont'd)
Financial Statements: Consolidated Statements of Cash Flows (Cont’d) Three Months Three Months Ended Ended March 31, March 31, (in thousands) 2022 2021 Supplemental disclosure of noncash investing and financing activities Accrued transaction costs for CRIS Business Combination $ 182 $ 3,411 Asset re