Slide 1: EVgo Q4 2021 Earnings Call
EVgo Q4 2021 Earnings Call March 23, 2022 Nasdaq: EVGO | investors.evgo.com
Slide 2: 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 use of words such as "estimate," "pla
Slide 3: Definitions of Non-GAAP Financial Measures
This press release includes the non - GAAP financial measures: “Adjusted COGS,” “Adjusted Gross Profit (Loss),” “Adjusted Gross Ma rgin,” “EBITDA,” “Adjusted EBITDA,” and “Adjusted EBITDA Margin.” EVgo believes these measures are useful to investors in evaluating EVgo’s financial performance. In add
Slide 4: Cathy Zoi, CEO Strategic Overview
1 Cathy Zoi, CEO Strategic Overview
Slide 5: The EVgo Investment Opportunity
5 The EVgo Investment Opportunity Pure - play, sustainable business building, owning, and operating essential infrastructure for the electrification of transportation Competitive Moat : Unique customer insights, technology IP, and analytical tools enable superior product development, site selection,
Slide 6: Snapshot of EVgo's Market Leading Position
Source: Company estimates, PlugShare 1) FY 2021 vs FY 2020 .. ~1, 900 stalls DC fast charging stalls in operation or under construction at Y/E 2021 8 5 0+ locations #1 in DC fast charging sites 8 OEM Partners Engaged by multiple OEMs to provide charging services and build out DCFC network 100% Renew
Slide 7: EV Market Gained Steam in 2021
7 EV Market Gained Steam in 2021 Adoption Continues to Accelerate Rapidly Source: EVgo, BNEF, IEA, Global sales and sales market share of electric cars, 2010 - 2021, IEA, Paris https://www.iea.org/data - and - statistics/charts/global - sales - and - sales - market - share - of - electric - cars - 2
Slide 8: Key Operational & Business Updates
• YoY Revenue grew 52% to $22.2 million, driven by 68% network throughput growth • Q4’21 network throughput was 8.2 GWh with full year 2021 network throughput of 26.4 GWh • EVgo ended 2021 with ~340,000 customer accounts, up 47% YoY • Stalls in operation or under construction reached 1,903 at the en
Slide 9: EVgo's Build, Own, Operate Model Maximizes Long-Term Value
EVgo’s Build, Own, Operate Model Maximizes Long - Term Value EVgo benefits as consumers, partners and governments electrify Essential, high return infrastructure with attractive IRRs and steady cash flows Business model has greatest leverage to EV growth with competitive moats Dedicated team focused
Slide 10: Introducing EVgo eXtend
2. Site Design & Installation 1. Network Planning 3. O& M with guaranteed performance standards Core EVgo Expertise to 3 rd Parties • Broadens EVgo’s geographic footprint and potential partners, drives deeper customer engagement, and allows EVgo to expand network footprint beyond sites that currentl
Slide 11: Expanding OEM Customer Partnerships
11 Expanding OEM Customer Partnerships Building strategic relationships with the OEMs positions EVgo to continue to be the charging network of choice for new EV drivers • Partnership with Toyota, world’s largest OEM by sales, announced in February 2022, with EVgo providing one year of unlimited publ
Slide 12: Continued Investment in Technology & Personnel
12 Continued Investment in Technology & Personnel Keep EVgo at the Leading Edge New EVgo Mobile App & EVgo Inside TM • All new App launched Dec. 2021 • Sophisticated, friendly design to improve driver charging experience Key functionality enhancements: • Live charging session data • Interactive site
Slide 13: Olga Shevorenkova, CFO Financial and Operational Overview
2 Olga Shevorenkova, CFO Financial and Operational Overview
Slide 14: Key Operational Highlights
Key Operational Highlights Active E&C Stall Development Pipeline Quarterly Network Throughput (GWh) Annual Network Throughput (GWh) Customer Accounts (000s) +26% A Year of Accelerating Development • Network throughput growth continues strong growth trajectory • Q4 network throughput up 95% YoY • FY
Slide 15: Q4 Financial Highlights
• Revenue in the fourth quarter grew 70% YoY and 15% QoQ , driven by higher retail and fleet throughput • Adjusted gross margin expanded 600 basis points from 22% to 28% QoQ due to operating leverage from higher throughput • Better than expected EBITDA due to higher than expected throughput, lower e
Slide 16: Key Financial Highlights
1. Adjusted Gross Profit / (Loss), Adjusted Gross Margin, Adjusted EBITDA, and Adjusted EBITDA Margin are non - GAAP measures and hav e not been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”). For a definit ion of these non - GAAP measur
Slide 17: Market Spotlight: San Francisco
17 Market Spotlight: San Francisco Leading edge provides proof points on durability of business model, long - term profitability potential A growing number of EVgo metro - areas produce positive cash flows as a result of local EV penetration • California, the most advanced EV market in the US, is pr
Slide 18: Clear Path to Profitability Tied to EV Adoption
18 Clear Path to Profitability Tied to EV Adoption Indicative EVgo Revenue & EBITDA Generation at Various EV Penetration Rates Powerful ability to scale the business as more EVs hit the road • Today EV penetration is low; as shown on prior slide, EVgo profitability is set to increase rapidly with EV
Slide 19: 2022 Guidance
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 Introducing key 2022 financial and operational forecast figures: • Guidance reflects increased personnel and technology investments to help EVgo meet demand for
Slide 20: Appendix
3 Appendix Reconciliation of Non - GAAP Measures to GAAP, Summary Financials
Slide 21: Reconciliation of Non-GAAP Measures to GAAP
21 Reconciliation of Non - GAAP Measures to GAAP Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 YTD 2020 YTD 2021 GAAP Gross Profit / (Loss) ($2,852) ($1,678) ($1,675) ($1,653) ($1,824) ($9,045) ($6,830) Less: Site Depreciation & ARO Accretion $2,528 $2,447 $2,705 $3,020 $3,814 $9,529 $11,986 Stock Option
Slide 22: Reconciliation of Non-GAAP Measures to GAAP (Cont'd)
22 Reconciliation of Non - GAAP Measures to GAAP (Cont’d) Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 YTD 2020 YTD 2021 Net Income ($15,519) ($16,610) ($18,421) $23,591 ($46,322) ($48,211) ($57,762) + Taxes 6 (1) 1 – – 2 1 + Depreciation, ARO Accretion, Amortization 5,000 4,957 5,250 6,414 7,280 19,033
Slide 23: Change of Presentation of Certain Costs from Cost of Sales into G&A
23 Change of Presentation of Certain Costs from Cost of Sales into G&A ($ 000s) Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 YTD 2020 YTD 2021 Adjusted Gross Profit / (Loss) - As Previously Reported * ($1,205) ($162) ($61) $217 $669 ($3,092) $663 Adjusted Cost of Sales Reclassification to G&A 871 925 1,0
Slide 24: Financial Statements: Balance Sheets
24 Financial Statements: Balance Sheets
Slide 25: Financial Statements: Balance Sheets (Cont'd)
25 Financial Statements: Balance Sheets (Cont’d)
Slide 26: Financial Statements: Consolidated Statements of Operations
26 Financial Statements: Consolidated Statements of Operations
Slide 27: Financial Statements: Consolidated Statements of Cash Flows
27 Financial Statements: Consolidated Statements of Cash Flows
Slide 28: Financial Statements: Consolidated Statements of Cash Flows (Cont'd)
28 Financial Statements: Consolidated Statements of Cash Flows (Cont’d)