EVgo (EVGO) investor relations material

Executive summary

• Q3 revenue was $91.417M, down 1% YoY, as 29% growth in charging-network revenue was offset by lower eXtend and AV/ancillary revenue; Adjusted EBITDA loss narrowed to $3.5M.

• Public-network throughput rose 8% YoY to 103 GWh, while daily throughput per stall fell 4% to 283 kWh.

• Priorities include higher-return sites, NACS expansion, next-generation chargers, improved utilization and cost efficiency.

• An independent special committee is reviewing LS Power’s unsolicited, non-binding $2.00-per-share proposal; no decision has been made.

Financial highlights

• Q3 revenue was $91.417M versus $92.3M YoY; nine-month revenue increased 7% to $283.596M.

• Q3 GAAP gross profit rose 8% to $13.6M; operating loss widened to $49.4M from $34.1M and net loss to $49.2M from $28.4M.

• Q3 net loss attributable to Class A stockholders was $20.263M, or $0.14 per share, versus $12.385M, or $0.09.

• Nine-month net loss widened 57% to $132.5M; net loss attributable to Class A stockholders was $57.5M versus $36.7M.

• Adjusted gross profit increased 21% to $32.4M; adjusted gross margin rose to 35.4% from 28.9%.

Outlook and guidance

• FY2026 revenue guidance is $375M–$400M; Adjusted EBITDA loss guidance is $30M–$15M.

• FY2026 target is 1,075–1,275 new stalls: 600–750 public and AV stalls and 475–525 eXtend stalls; public owned-and-operated deployment is expected at 550–650.

• FY2026 eXtend revenue outlook is $90M–$95M; AV and ancillary revenue outlook is $30M–$45M.

• Adjusted G&A outlook is ~$145M; 2027 adjusted G&A is targeted at 15%+ below the prior $173M–$178M view.

• Next-generation charging architecture, capable of up to 750 kW with dynamic power sharing, is expected to begin deployment in 2027.