EVgo Inc. (EVGO) , a leading provider of public fast-charging infrastructure in the United States, and Toyota Motor Corporation (TM) , have inaugurated their first DC fast-charging (DCFC) stations in Baldwin Park and Sacramento, CA. Developed under Toyota’s “Empact” vision, these co-branded stations, owned and operated by EVgo, feature 350kW chargers and can simultaneously serve up to eight vehicles.With a network of more than 1,100 stations across 40+ states, EVgo partnered with Toyota to enhance charging ...

J.P. Morgan analyst Bill Peterson reiterated the Overweight rating on EVgo Inc. EVGO, lowering the price forecast to $5 from $6.The analyst suggests that EVgo, a prominent operator of a DC fast-charging network in the U.S., is poised for substantial revenue growth in the coming years.This growth will be driven by factors such as increased charger utilization, higher charge rates, and a growing network footprint, which could be further bolstered by a potential Department of Energy loan, even in a market with ...

The charging infrastructure market is exponentially expanding as electric vehicle (EV) adoption is accelerating worldwide. While China is currently leading in EV charging infrastructure, with more than 3.2 million public charge points, Europe is expanding rapidly, with over 900,000 public charge points, with countries like the Netherlands, France and Germany at the forefront. In contrast, the United States is working to catch up, with a little more than 206,000 publicly available charging ports and approxim ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For The Transition Period From To Commission file number: 001-39572 EVgo Inc. (Exact name of registrant as specified in its charter) Delaware 85-2326098 (State or other jurisdiction of in ...

EVgo (EVGO) reported a fourth-quarter 2024 loss of 11 cents per share, narrower than the Zacks Consensus Estimate of a loss of 15 cents, as well as the year-ago period’s loss of 12 cents per share. Revenues of $67.5 million missed the Zacks Consensus Estimate of $69 million but increased 35% on a year-over-year basis due to strong growth in charging network revenues.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Key Q4 HighlightsEVgo recorded a network throughput of 84 gigawatt-hours ...

Financial Data and Key Metrics Changes - EVgo reported full year revenues of $257 million, representing a 60% year-over-year increase, with Q4 revenue growing 35% year-over-year to $67.5 million [44][50] - Total throughput on the public network for 2024 was 277 gigawatt hours, a 116% increase compared to the previous year [44] - Charging network gross margin improved to 37.6% in 2024, up from 26% in 2023, while adjusted EBITDA margin also showed significant improvement [49][51] Business Line Data and Key Metrics Changes - Full year revenues from the core charging business more than doubled year-over-year, with charging network revenues reaching $155.7 million, a 110% increase from $74.2 million in 2023 [11][45] - eXtend revenues increased by 20% to $86.6 million from $72.4 million in the prior year [45] - The average daily throughput per public stall was 269 kilowatt hours, compared to 197 kilowatt hours last year, indicating a significant increase in utilization [48] Market Data and Key Metrics Changes - Utilization on the network reached 24%, up from 19% a year ago, with 65% of stalls having utilization greater than 15% [10][47] - EVgo added a record 480 new operational stalls in Q4, bringing the total to over 4,000 operational stalls [11][43] - The company estimates that less than 10% of 2025 revenue will be driven by new first-time drivers of EVs, indicating a shift in focus towards overall electric vehicle operation rather than new sales [16][85] Company Strategy and Development Direction - EVgo plans to triple its installed base over the next five years, supported by a $1.25 billion loan guarantee from the Department of Energy [12][40] - The company is focusing on improving customer experience, operational efficiencies, and capturing high-value customers, with 56% of throughput coming from rideshare and subscription accounts [28][35] - EVgo is expanding its partnerships with site hosts and plans to launch flagship stalls in collaboration with GM, enhancing customer experience [38] Management's Comments on Operating Environment and Future Outlook - Management highlighted the importance of charging infrastructure in stimulating demand for electric vehicles, especially in the context of competition with China [13][16] - The company remains confident in its business model, which is resilient to fluctuations in EV sales, as it is driven by the overall growth of electric vehicles in operation [20][112] - EVgo expects total revenues in the range of $340 million to $380 million for 2025, with a target of adjusted EBITDA breakeven [66] Other Important Information - EVgo's cash, cash equivalents, and restricted cash stood at $121 million as of December 31, 2024, and increased to approximately $200 million after the first draw of the DOE loan [53] - The company achieved a 9% reduction in gross CapEx per stall in 2024 and anticipates further reductions in 2025 [34][32] - EVgo is also exploring complementary non-dilutive financing options to support growth beyond the DOE loan [82] Q&A Session Summary Question: Status of the DOE loan and second drawdown - Management expressed confidence in the DOE loan, stating it is a legally binding contract and they have a productive relationship with the LPO team [74][75] Question: Guidance for full year outcomes - Management indicated that revenue guidance reflects some variability, with G&A expected to increase modestly due to investments in technology and inflation [87][88] Question: Impact of executive orders on funding - Management reiterated confidence in the loan and highlighted strong cash balances, indicating the ability to adjust CapEx deployment if necessary [100][102] Question: Strategy for AV charging stations - Management discussed the growth in dedicated hubs for autonomous vehicles, noting a different revenue model with fixed monthly payments [105][107] Question: Geographic growth strategy - Management confirmed a shift towards expanding outside California, following demand trends in other states [115][116] Question: Impact of tariffs on CapEx - Management stated minimal impact from tariffs, emphasizing a robust supply chain that is not reliant on imports from China [120][121]

Company Performance - EVgo Inc. reported a quarterly loss of $0.11 per share, better than the Zacks Consensus Estimate of a loss of $0.15, and compared to a loss of $0.12 per share a year ago, indicating an earnings surprise of 26.67% [1] - The company posted revenues of $67.51 million for the quarter ended December 2024, missing the Zacks Consensus Estimate by 2.85%, but showing an increase from year-ago revenues of $49.99 million [2] - Over the last four quarters, EVgo has surpassed consensus EPS estimates three times and topped consensus revenue estimates three times as well [2] Stock Outlook - EVgo shares have declined approximately 39.8% since the beginning of the year, contrasting with the S&P 500's decline of only 0.5% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.15 on revenues of $75.26 million, and for the current fiscal year, it is -$0.55 on revenues of $369.98 million [7] Industry Context - The Automotive - Original Equipment industry, to which EVgo belongs, is currently ranked in the bottom 40% of over 250 Zacks industries, suggesting potential challenges for stock performance [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact EVgo's stock performance [5]

Nasdaq: EVGO – investors.evgo.com Q4 2024 Earnings Call March 4, 2025 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 use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "expect," "anticipate," "believe," "seek," "target," "assume" ...

Core Viewpoint - EVgo's stock experienced a decline following its earnings report, as investors are concerned about the future of the electric vehicle (EV) industry without the support of former President Trump [1] Company Summary - EVgo reported its earnings, which did not meet investor expectations, leading to a drop in stock price [1] - The company is facing challenges in a potentially changing political landscape that may affect EV incentives and support [1] Industry Summary - The EV industry is at a critical juncture, with uncertainties regarding government support and policies that could impact growth [1] - Investors are weighing the implications of a future without Trump's backing, which could alter the dynamics of EV adoption and infrastructure development [1]

Exhibit 99.1 EVgo Inc. Reports Record Fourth Quarter 2024 Results Issues 2025 Guidance of $340 - $380 Million of Revenue and Adjusted EBITDA of ($5) Million - $10 Million1 ● Revenue of $67.5 million in the fourth quarter, representing an increase of 35% year-over-year. ● For the full year 2024, revenue reached a record $256.8 million, an increase of 60% over the full year 2023, meeting the annual guidance range. ● Charging network revenue totaled a record $46.5 million in the fourth quarter, an increase of ...