EVgo (EVGO) - 2023 Q2 - Quarterly Report

Cautionary Statement Regarding Forward-Looking Statements The report contains forward-looking statements subject to risks and uncertainties detailed in SEC filings - The report contains forward-looking statements regarding future financial performance, business strategies, market size, expansion plans, and operational results[7][10] - Key risks include changes affecting EVgo's business, cyclical demand, revenue fluctuations, capital market conditions, competition, supply chain disruptions, and general economic conditions[7][11] Frequently Used Terms This section defines key terminology used throughout the report, such as DCFC, EV, and OEM - This section defines key terms used throughout the Quarterly Report, such as 'Company' (EVgo Inc and its subsidiaries), 'DCFC' (direct current fast charging), 'EV' (electric vehicle), and 'OEM' (original equipment manufacturer)[13][22][34] PART I. FINANCIAL INFORMATION This part presents the company's unaudited financial statements and management's analysis of financial performance Item 1. Financial Statements This section presents EVgo's unaudited condensed consolidated financial statements and accompanying notes Condensed Consolidated Balance Sheets The balance sheets show an increase in total assets and a reduction in the total stockholders' deficit Condensed Consolidated Balance Sheets | (in thousands) | June 30, 2023 | December 31, 2022 | | :--- | :--- | :--- | | Assets | | | | Cash, cash equivalents and restricted cash | $257,126 | $246,193 | | Total current assets | $297,146 | $275,484 | | Property, equipment and software, net | $383,822 | $308,112 | | Total assets | $823,135 | $729,724 | | Liabilities | | | | Total current liabilities | $81,218 | $87,345 | | Total liabilities | $232,545 | $212,598 | | Redeemable noncontrolling interest | $783,200 | $875,226 | | Total stockholders' deficit | $(192,610) | $(358,100) | Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) The company's revenue grew significantly, turning a gross loss into a gross profit year-over-year Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) | (in thousands, except per share data) | Three Months Ended June 30, 2023 | Three Months Ended June 30, 2022 | Six Months Ended June 30, 2023 | Six Months Ended June 30, 2022 | | :--- | :--- | :--- | :--- | :--- | | Revenue | $50,552 | $9,076 | $75,852 | $16,776 | | Gross profit (loss) | $5,529 | $(744) | $5,570 | $(1,344) | | Operating loss | $(33,587) | $(37,054) | $(76,219) | $(66,969) | | Net (loss) income | $(21,539) | $16,997 | $(70,620) | $(38,269) | | Net (loss) income attributable to Class A common stockholders | $(7,026) | $4,479 | $(20,102) | $(9,920) | | Net (loss) income per share, basic | $(0.08) | $0.06 | $(0.25) | $(0.14) | Condensed Consolidated Statements of Stockholders' Deficit The stockholders' deficit improved due to noncontrolling interest adjustments and proceeds from equity offerings - For the six months ended June 30, 2023, total stockholders' deficit improved from $(358,100) thousand to $(192,610) thousand, primarily due to a significant redeemable noncontrolling interest adjustment to fair value of $727,990 thousand, and proceeds from equity offerings[51] - Class A common stock outstanding increased from 70,247,726 shares at December 31, 2022, to 102,593,985 shares at June 30, 2023, reflecting issuances under equity offerings and share-based compensation plans[51] Condensed Consolidated Statements of Cash Flows Net cash from financing activities offset cash used in operations and investing, resulting in a net cash increase Condensed Consolidated Statements of Cash Flows | (in thousands) | Six Months Ended June 30, 2023 | Six Months Ended June 30, 2022 | | :--- | :--- | :--- | | Net cash used in operating activities | $(22,525) | $(38,370) | | Net cash used in investing activities | $(99,898) | $(106,836) | | Net cash provided by financing activities | $133,356 | $5,032 | | Net increase (decrease) in cash, cash equivalents and restricted cash | $10,933 | $(140,174) | | Cash, cash equivalents and restricted cash, end of period | $257,426 | $345,007 | Notes to Condensed Consolidated Financial Statements These notes provide detailed explanations of accounting policies, revenue, leases, and other financial components Note 1 – Description of Business and Nature of Operations EVgo operates a public DC fast charging network for EVs in the US under an 'Up-C' corporate structure - EVgo owns and operates a public DC fast charging network for EVs in the US, supporting all EV models and charging standards[60] - The company operates under an 'Up-C' structure following the CRIS Business Combination on July 1, 2021, consolidating EVgo OpCo's financial results and recording a redeemable noncontrolling interest[63][65] - As of June 30, 2023, EVgo Holdings held 65.5% economic ownership and a 67.4% voting interest in EVgo Inc[65] Note 2 – Summary of Significant Accounting Policies This note outlines EVgo's accounting policies, use of estimates, and adoption of new accounting standards - The condensed consolidated financial statements are unaudited and prepared in accordance with GAAP, consolidating the Company and its subsidiaries[67] - Significant estimates include variable consideration for revenue, depreciable lives of assets, asset retirement obligations, fair value of operating leases, and share-based compensation[70] - EVgo adopted ASU 2021-08 (Business Combinations) and ASC 326 (Credit Losses) prospectively on January 1, 2023, with no material impact on financial statements[79][80] - As of June 30, 2023, two customers comprised 39.9% of net accounts receivable, and one customer represented 57.3% of revenue for the six months ended June 30, 2023, indicating significant customer concentration[73] Note 3 – Revenue Recognition This note details EVgo's revenue streams and highlights a 22% increase in contract liabilities Disaggregated Revenue | (in thousands) | Three Months Ended June 30, 2023 | Three Months Ended June 30, 2022 | Six Months Ended June 30, 2023 | Six Months Ended June 30, 2022 | | :--- | :--- | :--- | :--- | :--- | | Charging revenue, retail | $9,085 | $4,389 | $15,700 | $7,891 | | Charging revenue, commercial | $2,418 | $654 | $4,133 | $1,363 | | Charging revenue, OEM | $986 | $189 | $1,538 | $340 | | Regulatory credit sales | $1,613 | $2,128 | $2,828 | $3,506 | | Network revenue, OEM | $742 | $887 | $3,441 | $1,377 | | eXtend revenue | $33,281 | $131 | $43,573 | $211 | | Ancillary revenue | $2,427 | $698 | $4,639 | $2,088 | | Total revenue | $50,552 | $9,076 | $75,852 | $16,776 | - Contract liabilities increased by $12.5 million (22%) to $70.2 million as of June 30, 2023, compared to $57.8 million as of December 31, 2022, reflecting the timing difference between cash receipt and performance obligation satisfaction[84] Note 4 – Lease Accounting EVgo has operating lease commitments of $45.5 million for assets not yet in possession - EVgo has operating leases with Site Hosts for charging stations and leases offices/warehouses, with terms generally ranging from one to 15 years[87] - Estimated operating lease commitments for assets not yet in possession totaled $45.5 million as of June 30, 2023[88] Lease Costs and Income | (in thousands) | Six Months Ended June 30, 2023 | Six Months Ended June 30, 2022 | | :--- | :--- | :--- | | Operating lease costs (Cost of sales) | $2,791 | $1,091 | | Operating lease costs (General and administrative expenses) | $2,440 | $1,280 | | Total lease income | $1,526 | $762 | Note 5 – Property, Equipment and Software, Net Net property, equipment, and software increased to $383.8 million, driven by investments in charging stations Property, Equipment and Software, Net | (in thousands) | June 30, 2023 | December 31, 2022 | | :--- | :--- | :--- | | Charging station installation costs | $160,750 | $121,820 | | Construction in process | $116,883 | $104,395 | | Charging station equipment | $105,642 | $79,031 | | Total property, equipment and software, net | $383,822 | $308,112 | Depreciation and Amortization | (in thousands) | Six Months Ended June 30, 2023 | Six Months Ended June 30, 2022 | | :--- | :--- | :--- | | Depreciation of property and equipment (Cost of sales) | $16,886 | $9,985 | | Amortization of capital-build liability (Cost of sales) | $(3,261) | $(2,430) | | Impairment expense | $5,825 | $1,994 | | Total depreciation, amortization, impairment, and loss on disposal | $22,146 | $11,495 | Note 6 – Intangible Assets, Net Net intangible assets totaled $54.8 million, with amortization expense of $5.8 million for the period Intangible Assets, Net | (in thousands) | Net Carrying Value (June 30, 2023) | Remaining Weighted Average Amortization Period | | :--- | :--- | :--- | | Site Host relationships | $29,535 | 8.6 years | | Customer relationships | $4,867 | 1.3 years | | Developed technology | $10,844 | 11.0 years | | User base | $5,567 | 2.1 years | | Trade name | $3,992 | 13.0 years | | Total intangible assets, net | $54,805 | | - Amortization of intangible assets was $5.8 million for both the six months ended June 30, 2023, and June 30, 2022[93] Note 7 – Asset Retirement Obligations Asset retirement obligations increased to $18.5 million due to new liabilities and accretion expense Asset Retirement Obligations | (in thousands) | Six Months Ended June 30, 2023 | | :--- | :--- | | Balance as of December 31, 2022 | $15,473 | | Liabilities incurred | $2,019 | | Accretion expense | $1,081 | | Balance as of June 30, 2023 | $18,477 | Note 8 – Equity EVgo raised approximately $129.1 million in net proceeds from equity offerings in the first half of 2023 - In April 2023, EVgo sold 889,340 shares of Class A common stock under its ATM Program, generating approximately $5.7 million in net proceeds[95] - During the three months ended June 30, 2023, EVgo completed an underwritten equity offering of 30,123,129 shares of Class A common stock, resulting in $123.4 million in net proceeds[96] Note 9 – Commitments and Contingencies EVgo has significant contractual commitments for charger installation and equipment purchases - EVgo is committed to building, operating, and maintaining up to 2,000 DC fast charging stalls for Pilot Company and GM under the Pilot Infrastructure Agreement[98][99] - Under the GM Agreement, EVgo must install 3,250 charger stalls by March 31, 2026, facing potential liquidated damages of up to $15.0 million for non-compliance[105][106] - As of June 30, 2023, EVgo had $56.1 million in outstanding short-term purchase order commitments for charging equipment[114] Note 10 – Fair Value Measurements This note details the fair value measurements of EVgo's financial assets and liabilities Fair Value Measurements | (in thousands) | Level | June 30, 2023 Balance | December 31, 2022 Balance | | :--- | :--- | :--- | :--- | | Cash equivalents (Money market funds) | 1 | $216,125 | $150,125 | | Earnout liability | 3 | $1,297 | $1,730 | | Warrant liability – Public Warrants | 1 | $9,328 | $10,164 | | Warrant liability – Private Placement Warrants | 2 | $1,965 | $2,140 | | Total liabilities at fair value | | $12,590 | $14,034 | - The earnout liability is valued using a Monte Carlo simulation, with key assumptions including a stock price of $4.00, risk-free interest rate of 4.49%, and expected volatility of 85%[116] Note 11 – Income Taxes EVgo's income tax provision was de minimis due to a full valuation allowance on its deferred tax assets - EVgo's income tax expense was de minimis for the three and six months ended June 30, 2023 and 2022, primarily due to a full valuation allowance on deferred tax assets[120] - A full valuation allowance has been established against net deferred tax assets as of June 30, 2023, and December 31, 2022, due to significant uncertainty regarding future realization of tax benefits[121] Note 12 – Tax Receivable Agreement No liability has been triggered under the Tax Receivable Agreement as of June 30, 2023 - The Tax Receivable Agreement (TRA) mandates EVgo to pay TRA Holders 85% of net cash savings from certain tax basis increases[124] - As of June 30, 2023, no transactions have occurred that would trigger the recording of a liability by the Company under the TRA[125] Note 13 – Net (Loss) Income Per Share This note provides the computation of basic and diluted net loss per share for Class A common stockholders Net (Loss) Income Per Share | (in thousands, except per share data) | Three Months Ended June 30, 2023 | Three Months Ended June 30, 2022 | Six Months Ended June 30, 2023 | Six Months Ended June 30, 2022 | | :--- | :--- | :--- | :--- | :--- | | Net (loss) income attributable to Class A common stockholders, basic and diluted | $(6,967) | $4,433 | $(19,919) | $(9,817) | | Weighted average common stock outstanding, basic | 85,320 | 68,545 | 78,196 | 68,449 | | Net (loss) income per share – basic | $(0.08) | $0.06 | $(0.25) | $(0.14) | | Net (loss) income per share – diluted | $(0.08) | $0.06 | $(0.25) | $(0.14) | - Potentially dilutive securities, including 14,949 thousand Public Warrants and 7,050 thousand RSUs, were excluded from diluted EPS calculation for the six months ended June 30, 2023, as their impact was antidilutive[128] Note 14 – Share-Based Compensation Share-based compensation expense increased to $14.9 million for the six-month period Share-Based Compensation Expense | (in thousands) | Six Months Ended June 30, 2023 | Six Months Ended June 30, 2022 | | :--- | :--- | :--- | | Cost of sales | $63 | $37 | | General and administrative expenses | $14,859 | $10,511 | | Total share-based compensation expense | $14,922 | $10,548 | - As of June 30, 2023, unrecognized share-based compensation expense was approximately $3.9 million for stock options (expected over 1.6 years) and $31.5 million for unvested RSUs (expected over 1.5 years)[133][135] Note 15 – Redeemable Noncontrolling Interest The redeemable noncontrolling interest, measured at fair value, decreased to $783.2 million - EVgo Holdings held 195,800,000 EVgo OpCo Units as of June 30, 2023, representing a 65.6% economic ownership interest in EVgo OpCo[138] - The redeemable noncontrolling interest is classified as temporary equity and measured at fair value at each reporting period[139][140] Redeemable Noncontrolling Interest | (in thousands) | Six Months Ended June 30, 2023 | | :--- | :--- | | Balance as of December 31, 2022 | $875,226 | | Net loss attributable to redeemable noncontrolling interest | $(50,518) | | Adjustment to revise redeemable noncontrolling interest to its redemption value at period-end | $(42,378) | | Balance as of June 30, 2023 | $783,200 | Note 16 – Subsequent Events In July 2023, EVgo granted approximately 1.3 million restricted stock units to employees - In July 2023, EVgo granted approximately 1,300,000 restricted stock units (RSUs) to employees, with a fair value of $5.2 million, vesting annually over three years[142] Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Management discusses financial results, key performance indicators, liquidity, and critical accounting policies Overview EVgo operates EV charging infrastructure with multiple revenue streams, including charging and eXtend services - EVgo is a key leader in EV charging solutions, building and operating infrastructure for individual drivers, rideshare and commercial fleets, and businesses[144] - Revenue streams include charging services (retail, commercial, OEM), regulatory credit sales, network revenue (OEM), and eXtend revenue (hardware, design, O&M for customer-owned assets)[145][146][148][149][154] Recent Developments Macroeconomic factors have caused operational disruptions, while government initiatives present both opportunities and challenges - The global economy's disruption, including COVID-19, the Ukraine conflict, and inflation, has impacted EVgo's operations through construction delays and supply chain constraints[151][152][153][155] - Government EV initiatives provide incentives but also impose new requirements (e.g., 'Buy America' rules) that could lead to sourcing delays or increased costs[156][157] Key Components of Results of Operations This section defines the key components of EVgo's financial results, including revenue and operating expenses - EVgo's revenue is primarily from charging services, eXtend offerings, regulatory credit sales, and ancillary services[159] - Cost of sales includes energy usage fees, site operating and maintenance, warranty, and site lease/rent expenses[160][161] - Operating expenses consist of general and administrative expenses (payroll, IT, customer service) and depreciation, amortization, and accretion not related to charging equipment[163][164] Key Performance Indicators Network Throughput, Number of DC Stalls, and Receipts are key metrics used to evaluate performance Key Performance Indicators | Metric | June 30, 2023 | June 30, 2022 | | :--- | :--- | :--- | | Network throughput (GWh) for three months | 24.9 | 10.1 | | Network throughput (GWh) for six months | 42.8 | 18.1 | | Number of DC stalls on EVgo network | 2,518 | 1,937 | Total Receipts | (dollars in thousands) | Three Months Ended June 30, 2023 | Three Months Ended June 30, 2022 | Six Months Ended June 30, 2023 | Six Months Ended June 30, 2022 | | :--- | :--- | :--- | :--- | :--- | | GAAP revenue | $50,552 | $9,076 | $75,852 | $16,776 | | GAAP changes in deferred revenue | $(2,842) | $(11) | $18,939 | $(572) | | Total Receipts | $47,710 | $9,065 | $94,791 | $16,204 | | Year-over-year percentage change in total Receipts | 426% | | 485% | | Factors Affecting EVgo's Operating Results Operating results are influenced by EV adoption, competition, government incentives, and technology risks - EVgo's revenue growth is directly tied to the adoption and usage of passenger and commercial EVs[178] - The EV charging industry is highly competitive, with factors like charger count, location, reliability, and pricing influencing market share[182] - Government incentives are crucial for the EV market, but changes in requirements or reductions could negatively impact EVgo's business[183][184][186] - Technology risks, including the rapid shift towards the NACS standard by OEMs, could require significant investments to adapt EVgo's infrastructure[187][188] - Revenue from regulatory credit sales is exposed to market dynamics, leading to price volatility that can materially affect future results[188] Results of Operations for the Three Months Ended June 30, 2023 and 2022 Revenue increased 457% to $50.6 million, driven by eXtend revenue, turning a gross loss into a gross profit Results of Operations | (dollars in thousands) | Three Months Ended June 30, 2023 | Three Months Ended June 30, 2022 | Change $ | Change % | | :--- | :--- | :--- | :--- | :--- | | Revenue | $50,552 | $9,076 | $41,476 | 457% | | Cost of revenue | $37,740 | $5,719 | $32,021 | 560% | | Gross profit (loss) | $5,529 | $(744) | $6,273 | 843% | | General and administrative expenses | $34,333 | $32,178 | $2,155 | 7% | | Operating loss | $(33,587) | $(37,054) | $3,467 | 9% | | Net (loss) income | $(21,539) | $16,997 | $(38,536) | (227)% | | Gross margin | 10.9% | (8.2)% | | | | Operating margin | (66.4)% | (408.3)% | | | Revenue by Type | (dollars in thousands) | Three Months Ended June 30, 2023 | Three Months Ended June 30, 2022 | Change $ | Change % | | :--- | :--- | :--- | :--- | :--- | | eXtend revenue | $33,281 | $131 | $33,150 | >999% | | Charging revenue, retail | $9,085 | $4,389 | $4,696 | 107% | | Charging revenue, commercial | $2,418 | $654 | $1,764 | 270% | | Regulatory credit sales | $1,613 | $2,128 | $(515) | (24)% | | Ancillary revenue | $2,427 | $698 | $1,729 | 248% | Results of Operations for the Six Months Ended June 30, 2023 and 2022 Revenue increased 352% to $75.9 million, while operating loss widened by 14% due to higher G&A expenses Results of Operations | (dollars in thousands) | Six Months Ended June 30, 2023 | Six Months Ended June 30, 2022 | Change $ | Change % | | :--- | :--- | :--- | :--- | :--- | | Revenue | $75,852 | $16,776 | $59,076 | 352% | | Cost of revenue | $56,657 | $10,565 | $46,092 | 436% | | Gross profit (loss) | $5,570 | $(1,344) | $6,914 | 514% | | General and administrative expenses | $72,222 | $57,606 | $14,616 | 25% | | Operating loss | $(76,219) | $(66,969) | $(9,250) | (14)% | | Net loss | $(70,620) | $(38,269) | $(32,351) | (85)% | | Gross margin | 7.3% | (8.0)% | | | | Operating margin | (100.5)% | (399.2)% | | | Revenue by Type | (dollars in thousands) | Six Months Ended June 30, 2023 | Six Months Ended June 30, 2022 | Change $ | Change % | | :--- | :--- | :--- | :--- | :--- | | eXtend revenue | $43,573 | $211 | $43,362 | >999% | | Charging revenue, retail | $15,700 | $7,891 | $7,809 | 99% | | Charging revenue, commercial | $4,133 | $1,363 | $2,770 | 203% | | Regulatory credit sales | $2,828 | $3,506 | $(678) | (19)% | | Network revenue, OEM | $3,441 | $1,377 | $2,064 | 150% | | Ancillary revenue | $4,639 | $2,088 | $2,551 | 122% | Non-GAAP Financial Measures EVgo uses non-GAAP measures like Adjusted EBITDA to provide additional insights into its performance - EVgo uses non-GAAP measures like Adjusted Cost of Sales, Adjusted Gross Profit, Adjusted General and Administrative Expenses, EBITDA, and Adjusted EBITDA to evaluate performance[232][233] Non-GAAP Financial Measures | (dollars in thousands) | Three Months Ended June 30, 2023 | Three Months Ended June 30, 2022 | Six Months Ended June 30, 2023 | Six Months Ended June 30, 2022 | | :--- | :--- | :--- | :--- | :--- | | GAAP revenue | $50,552 | $9,076 | $75,852 | $16,776 | | Adjusted Gross Profit | $12,853 | $3,383 | $19,258 | $6,248 | | Adjusted Gross Margin | 25.4% | 37.3% | 25.4% | 37.2% | | Adjusted General and Administrative Expenses | $23,410 | $23,212 | $49,882 | $44,244 | | Adjusted General and Administrative Expenses as a Percentage of Revenue | 46.3% | 255.8% | 65.8% | 263.7% | | Adjusted EBITDA | $(10,553) | $(19,837) | $(30,620) | $(38,013) | | Adjusted EBITDA Margin | (20.9)% | (218.6)% | (40.4)% | (226.6)% | Liquidity and Capital Resources Management believes current cash of $257.4 million is sufficient for at least the next twelve months - EVgo has a history of operating losses and negative operating cash flows[240] Liquidity Position | (in thousands) | June 30, 2023 | December 31, 2022 | | :--- | :--- | :--- | | Cash, cash equivalents and restricted cash | $257,426 | $246,493 | | Working capital | $215,900 | $188,100 | - Management believes current cash and cash equivalents are sufficient to meet working capital and capital expenditure requirements for at least twelve months[240] - Primary liquidity sources include cash flows from the CRIS Business Combination, revenues, government grants, and proceeds from Class A common stock sales[241] Critical Accounting Policies and Estimates Critical accounting policies include revenue recognition and the fair value measurement of warrant liabilities - Critical accounting estimates include revenue recognition (determining performance obligations and standalone selling prices) and warrant liabilities (equity vs liability classification and fair value measurement)[251][252][256] - The fair value of private placement warrants is estimated using a Monte Carlo simulation methodology, involving subjective assumptions like stock price, expected term, and volatility[258] JOBS Act EVgo qualifies as an 'emerging growth company,' allowing it to take advantage of relaxed reporting requirements - EVgo qualifies as an 'emerging growth company' (EGC) and 'smaller reporting company' under the JOBS Act[260][262] - As an EGC, EVgo can delay adoption of new accounting standards and has reduced compensation disclosure requirements, potentially affecting comparability with non-EGCs[260][261] Item 3. Quantitative and Qualitative Disclosures About Market Risk The company is exempt from these disclosures due to its status as a 'smaller reporting company' - EVgo is exempt from providing quantitative and qualitative disclosures about market risk due to its status as a 'smaller reporting company'[263] Item 4. Controls and Procedures Management identified material weaknesses in internal controls and has a remediation plan in progress Management's Evaluation of Disclosure Controls and Procedures Disclosure controls were deemed not effective due to material weaknesses in internal control over financial reporting - As of June 30, 2023, EVgo's disclosure controls and procedures were deemed not effective due to material weaknesses in internal control over financial reporting[266] - Despite the material weaknesses, management believes the condensed consolidated financial statements fairly present the company's financial position, results of operations, and cash flows[267] Remediation Plan for Existing Material Weaknesses in Internal Control over Financial Reporting The remediation plan involves hiring personnel, providing training, and designing new controls - Material weaknesses identified include a lack of sufficient trained resources, ineffective risk assessment, and inadequate information and communication processes[270] - The remediation plan involves hiring additional accounting and compliance personnel, providing ongoing training, and implementing new process-level and general IT controls[271][272] - Remediation efforts are ongoing and may extend beyond fiscal year 2023[271] PART II. OTHER INFORMATION This part covers legal proceedings, risk factors, and other required disclosures Item 1. Legal Proceedings EVgo is not currently a party to any material legal proceedings - EVgo is not currently a party to any material legal proceedings[274] Item 1A. Risk Factors Key risks include evolving industry standards and intense competition in the EV charging market - The lack of mature industry standards, including the rapid shift towards the NACS standard by OEMs, poses risks of incompatibilities and significant adaptation costs[276][277][279][280] - EVgo faces significant competition from numerous established and emerging EV charging companies, utilities, and retailers, as well as alternative charging methods[281][282][283][284] Item 2. Unregistered Sales of Equity Securities and Use of Proceeds This item is not applicable to EVgo for the reporting period Item 3. Defaults Upon Senior Securities This item is not applicable to EVgo for the reporting period Item 4. Mine Safety Disclosures This item is not applicable to EVgo for the reporting period Item 5. Other Information No other information is reported under this item Item 6. Exhibits This section lists all exhibits filed as part of the Form 10-Q - The exhibit index includes corporate documents, warrant agreements, and CEO/CFO certifications pursuant to the Sarbanes-Oxley Act[293] Signatures The report is signed by the Chief Executive Officer and Interim Chief Financial Officer - The report is signed by Catherine Zoi, Chief Executive Officer, and Stephanie Lee, Interim Chief Financial Officer, on August 2, 2023[298]