EVgo (US:EVGO)2025-06-24 11:20Company Overview - EVgo powered more than 395 million zero-emission miles in 2023[9] - EVgo reduced more than 150,000 metric tons of CO2 in 2023[9] - EVgo has over 1 million customer accounts as of May 2024[20, 21] - EVgo's chargers serve 70+ EV models as of the end of 2023[26] - Capital offsets are anticipated to reduce vintage capex by approximately 40%[42] Market Opportunity - The EV market is underpinned by approximately $410 billion of OEM commitments[53] - States with 100% ZEV commitments represent 40% of US light duty vehicles[53] - DCFC as a percentage of total charging is growing in California, from 5%-10% to 25%-30%[67] - The addressable market for DCFC is projected to be $12-$15 billion by 2030[64, 65] Financial Performance - EVgo's revenue increased from $22 million in 2021 to $161 million in 2023, with a guidance of $220-$270 million for 2024[77] - Charging network margin was 28% in 2023 and 40% in Q1 2024[78, 131] - Adjusted EBITDA was -$59 million in 2023, with a guidance of -$48 million to -$30 million for 2024[80]