Evgo Inc. · NASDAQ:EVGO
Evgo — Q2 2025 Earnings Presentation
32 slides from Evgo's earnings presentation, Aug 5, 2025
Slide 1: Q2 2025 Earnings Call
Nasdaq: EVGO – investors.evgo.com Q2 2025 Earnings Call August 5, 2025
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: Strategic Overview
01 Strategic Overview Badar Khan, CEO
Slide 4: Q2 2025 Another Record Quarter
Q2 2025 ANOTHER RECORD QUARTER FURTHERING POSITION AS AN INDUSTRY LEADER BUILT FOR LONG -TERM SUCCESS O P E R AT I O N A L S T R AT E G I C $98M +47% Revenue • Closed commercial bank financing for up to $300M in July and received $48M $(1.9)M $6.0M Improvement in Adjusted EBITDA • Lower 2025 vintage
Slide 5: Demand for DCFC Outpacing Supply
DEMAND FOR DCFC OUTPACING SUPPLY CREATES FAVORABLE MACRO ENVIRONMENT FOR EVGO 18.7 2030E VIO 2024-2030 4.2x Growth Rates EV VIO 4.2x millions 4.5 1.5 2.2 3.3 growth over 2024 2021 2022 2023 2024 2030 Forecast 137 2025E- 2030E DCFC DCFC 2.7x STALLS thousands 20 27 37 51 14,400 installs per year 2025-
Slide 6: First of Its Kind Commercial Bank Facility Accelerates Growth
FIRST •WHY EVGO OF ITS KIND COMPELLING COMMERCIALVALUE BANK FACILITY PROPOSITION ACCELERATES GROWTH P U B L I C A N D D E D I C AT E D B U I L D TA R G E T S Flexible Facility, Complementary to 01 Existing Financing Prior Updated 4,400 – 5,000 Monthly Cash Draws and $48 Million 02 Initial Advance 2,
Slide 7: 28% Reduction in 2025 Vintage Net Capex Per Public Stall
28% REDUCTION IN 2025 VINTAGE NET CAPEX PER PUBLIC STALL RESULTS IN STRONGER RETURNS LONG-TERM EXPEC TATION IS TO CONTINUE LOWERING GROSS C APEX PER STALL FY25 ORIGINAL VIEW FY25 UPDATED VIEW LONG-TERM TARGET (2029) $147k 30% $135k 45% $112k 15% $103k $103k Original $95k $74k 28% Reduction Gross Cap
Slide 8: Our Priorities
• WHY EVGO OUR PRIORITIES OUR PRIORITIES OPERATING & CUSTOMER CAPEX CUSTOMER EXPERIENCE EFFICIENCIES GROWTH FINANCING Deliver Best-in-Class Efficiency Measures Capturing and Retaining Secure Complementary Customer Experience for to Improve Operating Spend High-Value Customers Non-Dilutive Financing
Slide 9: Focused on Improving the EVgo Customer Experience
FOCUSED ON IMPROVING THE EVGO CUSTOMER EXPERIENCE STALLS SERVED BY A 350 KW CHARGER SITES WITH 6+ DC STALLS AS A PERCENTAGE OF TOTAL STALLS 57% 24% 41% 16% v v 6/30/24 6/30/25 6/30/24 6/30/25 Stalls include EVgo’s public network Stalls include EVgo’s public network and EVgo eXtendTM "ONE AND DONE" S
Slide 10: Driving Operating & Capex Efficiencies
DRIVING OPERATING & CAPEX EFFICIENCIES ACHIEVEMENTS Impact of tariffs more than offset through impact of capital efficiencies PRIORITIES FY25 vintage net capex per stall expected to be 28% lower than original plan driven by efficiencies in capex spending and increased capital offsets Developme
Slide 11: Capturing and Retaining High-Value Customers
CAPTURING AND RETAINING HIGH- VALUE CUSTOMERS ACHIEVEMENTS Rideshare, OEM charging credit, and subscription plans accounted for 54% of Q2 2025 throughput Built and deployed first AI agents for creative, targeting and campaign management Launched seasonal-based pricing in select markets to acco
Slide 12: Financing
FINANCING ACHIEVEMENTS Closed an up to $300 million financing facility with commercial banking syndicate in July Expect to close 2024 vintage 30C income tax credit transfer in August for $17 million gross proceeds PRIORITIES Expect 45% capital offsets for 2025 vintage capital expenditures for
Slide 13: Commercial Bank Facility
02 Commercial Bank Facility Paul Dobson, CFO
Slide 14: Summary Loan Terms
SUMMARY LOAN TERMS EVgo Voyager Borrower LLC BORROWER A Project Finance SPV SMBC, Bank of Montreal, Royal Bank of Canada, ING Bank and LENDERS Investec Bank Up to $300M, with $225 million committed and $75 million of QUANTUM incremental availability ANTICIPATED STALL BUILD Over 1,500 new stalls DEPL
Slide 15: Increasing Scale Over Next 5 Years
INCREASING SCALE OVER NEXT 5 YEARS TARGET EVGO PUBLIC NETWORK STALLS IN OPERATION 13,800 – 14,400 9,400 – 9,800 6,600 – 6,900 5,000 – 5,150 ~4,000 2025 2026 2027 2028 2029 EVgo management targets. Stall build targets include stalls built under DOE loan, commercial loan facility, reduced gross capita
Slide 16: Unit Economics Continue to Improve
UNIT ECONOMICS CONTINUE TO IMPROVE PAYBACK IS ACCELERATING Illustrative Annual Stall Performance 20291 Q2 2024 Q2 2025 (Current) Network Run Rate @ 14,000 stalls Real (‘25) dollars Network Average Top 15% by Throughput Network Average Top 15% by Throughput (non-inflation adjusted) Revenue Throughput
Slide 17: Scaling Public Network Combined With Operating Leverage
SCALING PUBLIC NETWORK COMBINED WITH OPERATING LEVERAGE RESULTS IN COMPELLING FINANCIALS LONG-TERM ILLUSTRATIVE VIEW WITH FURTHER ACCELERATION OF NETWORK BUILD 2029 Exiting Run-Rate Scenarios Public Network 2024 Real 2025 $, non inflation adjusted Growth LOW HIGH To midpoint from 2024 OWNED & OPERAT
Slide 18: Financial Overview
03 Financial Overview Paul Dobson, CFO
Slide 19: Key Financial and Operational Highlights
KEY FINANCIAL AND OPERATIONAL HIGHLIGHTS OPERATIONAL STALLS CUSTOMER ACCOUNTS (000s) PUBLIC NETWORK THROUGHPUT (GWH) +2.6x +4.5x +12.8x 4,080 4,350 332 1,539 277 1,338 v 2,980 v 884 v 2,180 128 1,680 553 340 26 45 2021 2022 2023 2024 Q2 2025 12/31/21 12/31/22 12/31/23 12/31/24 06/30/25 12/31/21 12/3
Slide 20: EVgo Public Network Daily Throughput Per Stall Grew 2.5x in 2 Years
EVGO PUBLIC NETWORK DAILY EVGO PUBLIC NETWORK DAILY THROUGHPUT PER STALL THROUGHPUT PER STALL GREW 2.5x IN 2 YEARS +2.5x 281 230 111 Strong year-over-year growth in throughput and utilization Q2 2023 Q2 2024 Q2 2025 Multiple drivers of accelerated throughput growth • Increased multifamily dwellers a
Slide 21: Key Financial Highlights Q2 2025
KEY FINANCIAL HIGHLIGHTS Q2 2025 Network throughput increased 1.4x Charging Network Gross Margin1 improved Adjusted Gross Margin1 improved Adjusted EBITDA1 loss improved $6.0 million Network throughput for EVgo network excludes EVgo’s dedicated network and EVgo eXtend sites. 1 These non-GAAP measure
Slide 22: 2025 Financial Guidance
2025 GUIDANCE 2025 FINANCIAL GUIDANCE REVENUE $350M - $380M ADJUSTED EBITDA* $(5M) - $10M *A reconciliation of projected Adjusted EBITDA (non-GAAP) to net income (loss), the most directly comparable GAAP measure, is not provided because certain measures, including share-based compensation expense, w
Slide 23: Q&A
Q&A
Slide 24: Appendix
04 Appendix Summary Financials and Reconciliation of Non- GAAP to GAAP Measures
Slide 25: Stall Counts
STALL COUNTS 6/30/2025 6/30/2024 Stalls in operation: EVgo public network? 3,480 3,190 EVgo dedicated network’ 110 40 EVgo eXtend™ 760 190 Total stalls in operation 4,350 3,420 Increase 9% 175% 300 % 27% * Stalls on publicly available chargers at charging stations that we own and operate on our netw
Slide 26: Condensed Consolidated Balance Sheets
FINANCIAL STATEMENTS: CONDENSED CONSOLIDATED BALANCE SHEETS 26
Slide 27: Condensed Consolidated Statements of Operations
FINANCIAL STATEMENTS: CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUD IT ED ) 27
Slide 28: Condensed Consolidated Statements of Cash Flows
FINANCIAL STATEMENTS: CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUD IT ED ) 28
Slide 29: Definitions of Non-GAAP Financial Measures
DEFINITIONS OF NON-GAAP FINANCIAL MEASURES This presentation includes the following non-GAAP financial measures, in each case as defined below: “Charging Network Gross Profit,” “Charging Network Gross Margin,” "Adjusted Cost of Sales," "Adjusted Cost of Sales as a Percentage of Revenue," "Adjusted G
Slide 30: Reconciliations of Non-GAAP Measures to GAAP
RECONCILIATIONS OF NON-GAAP MEASURES TO GAAP 30
Slide 31: Reconciliations of Non-GAAP Measures to GAAP
RECONCILIATIONS OF NON-GAAP MEASURES TO GAAP 31
Slide 32: Reconciliations of Non-GAAP Measures to GAAP
RECONCILIATIONS OF NON-GAAP MEASURES TO GAAP 32