EVgo Inc.(NASDAQ:EVGO) 
EVgo Inc. owns and operates a direct current fast-charging network for battery electric vehicles in the United States. As of October 26, 2021, it operated approximately 800 DCFC locations in approximately 68 metropolitan areas across 35 states serving approximately 300,000 private and commercial ele...
Website: http://www.evgo.com
Founded: 2010
CEO: Cathy Zoi
Sector: Consumer Cyclical
Industry: Specialty Retail
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At a glance:
Bull Thesis:
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Income Statements:
Quarterly
Annual
| Unit: USD | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
revenue | 27,739,750 | 35,107,000 | 50,552,000 | 25,300,000 | 27,228,000 | 10,509,000 | 9,076,000 | 7,700,000 | 6,181,000 | |||||||||
yoy | 1.88% | 234.07% | 456.99% | 228.57% | 70.02% | |||||||||||||
qoq | -20.99% | -30.55% | 99.81% | -7.08% | 159.09% | 15.79% | 17.87% | |||||||||||
charging, retail | 35,778,000 | 35,296,000 | 32,779,000 | 30,015,000 | 29,336,000 | 26,656,000 | 22,336,000 | 18,326,000 | ||||||||||
charging, commercial | 9,334,000 | 9,070,000 | 8,573,000 | 7,783,000 | 5,131,000 | 8,622,000 | 7,094,000 | 5,839,000 | ||||||||||
charging, oem | 6,529,000 | 6,417,000 | 7,908,000 | 5,258,000 | 4,879,000 | 4,305,000 | 3,638,000 | 2,732,000 | ||||||||||
regulatory credit sales | 2,203,000 | 2,753,000 | 2,450,000 | 2,786,000 | 3,013,000 | 2,191,000 | 1,749,000 | 2,034,000 | ||||||||||
network, oem | 9,790,000 | 2,249,000 | 118,000 | 1,256,000 | 1,463,000 | 1,278,000 | 1,627,000 | 3,423,000 | ||||||||||
total charging network | 63,634,000 | 55,785,000 | 51,828,000 | 47,098,000 | 43,822,000 | 43,052,000 | 36,444,000 | 32,354,000 | ||||||||||
extend | 23,694,000 | 31,913,000 | 37,385,000 | 23,488,000 | 17,882,000 | 21,912,000 | 27,667,000 | 19,151,000 | ||||||||||
ancillary | 31,142,000 | 4,601,000 | 8,817,000 | 4,701,000 | 5,809,000 | 2,571,000 | 2,508,000 | 3,653,000 | ||||||||||
total revenue | 118,470,000 | 92,299,000 | 98,030,000 | 75,287,000 | 67,513,000 | 67,535,000 | 66,619,000 | 55,158,000 | 27,303,000 | 10,509,000 | 9,076,000 | 7,700,000 | 6,181,000 | |||||
cost of sales | 26,196,250 | 34,503,000 | 45,023,000 | 25,259,000 | 28,402,000 | 13,717,000 | 9,820,000 | 8,300,000 | 7,834,000 | |||||||||
charging network | 34,298,000 | 36,136,000 | 32,545,000 | 29,609,000 | 24,755,000 | 28,872,000 | 23,979,000 | 19,510,000 | ||||||||||
other | 23,965,000 | 29,677,000 | 37,235,000 | 20,400,000 | 20,059,000 | 20,753,000 | 25,093,000 | 18,448,000 | ||||||||||
depreciation, net of capital-build amortization | 15,221,000 | 13,926,000 | 14,342,000 | 15,955,000 | 12,939,000 | 11,542,000 | 11,149,000 | 10,359,000 | 9,611,000 | 8,619,000 | 7,283,000 | 6,342,000 | ||||||
total cost of sales | 73,484,000 | 79,739,000 | 84,122,000 | 65,964,000 | 57,753,000 | 61,167,000 | 60,221,000 | 48,317,000 | ||||||||||
gross profit | 44,986,000 | 12,560,000 | 13,908,000 | 9,323,000 | 9,760,000 | 6,368,000 | 6,398,000 | 6,841,000 | 3,540,000 | 604,000 | 5,529,000 | 41,000 | -1,653,000 | |||||
yoy | 360.92% | 97.24% | 117.38% | 36.28% | 175.71% | 954.30% | 15.72% | 16585.37% | ||||||||||
qoq | 258.17% | -9.69% | 49.18% | -4.48% | 53.27% | -0.47% | -6.48% | 93.25% | 486.09% | -89.08% | 13385.37% | |||||||
gross margin % | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | 12.76% | 1.72% | 10.94% | 0.16% | 0% | 0% | 0% | 0% | NaN% | -26.74% |
operating expenses | ||||||||||||||||||
general and administrative | 54,242,000 | 43,402,000 | 40,596,000 | 38,628,000 | 39,964,000 | 33,114,000 | 33,827,000 | 34,226,000 | 22,482,000 | 32,322,000 | 32,178,000 | 25,428,000 | 20,882,000 | |||||
depreciation, amortization and accretion | 3,111,000 | 3,242,000 | 4,124,000 | 4,095,000 | 4,820,000 | 5,043,000 | 4,958,000 | 4,985,000 | 5,564,000 | 4,975,000 | 4,783,000 | 4,784,000 | 4,604,000 | 4,516,000 | 4,132,000 | 3,887,000 | ||
total operating expenses | 57,353,000 | 46,644,000 | 44,720,000 | 42,723,000 | 44,784,000 | 38,157,000 | 38,785,000 | 39,211,000 | 44,356,000 | 36,976,000 | 39,116,000 | 42,673,000 | 41,389,000 | 36,838,000 | 36,310,000 | 29,315,000 | 24,276,000 | |
operating income | -12,367,000 | -34,084,000 | -30,812,000 | -33,400,000 | -35,024,000 | -31,789,000 | -32,387,000 | -32,370,000 | -40,816,000 | -36,372,000 | -33,587,000 | -42,632,000 | -42,488,000 | -40,046,000 | -37,054,000 | -29,915,000 | -25,929,000 | |
yoy | -64.69% | 7.22% | -4.86% | 3.18% | -14.19% | -12.60% | -3.57% | -24.07% | -3.94% | -9.17% | -9.36% | 42.51% | 54.44% | |||||
qoq | -63.72% | 10.62% | -7.75% | -4.64% | 10.18% | -1.85% | 0.05% | -20.69% | 12.22% | 8.29% | -21.22% | 0.34% | 6.10% | 8.07% | 23.86% | |||
operating margin % | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -147.14% | -103.60% | -66.44% | -168.51% | -156.05% | -381.06% | -408.26% | -388.51% | NaN% | -419.50% |
other income | 5,000 | -4,500 | -1,000 | -9,000 | 250 | 1,000 | 1,000 | -46,000 | -347,000 | -158,000 | -263,000 | |||||||
interest expense | -2,815,000 | -1,905,000 | -909,000 | -517,000 | -8,000 | -13,000 | ||||||||||||
interest income | 1,719,000 | 1,843,000 | 1,718,000 | 1,694,000 | 1,344,000 | 1,809,000 | 2,064,000 | 2,273,000 | 2,659,000 | 2,898,000 | 2,199,000 | 1,998,000 | 2,152,000 | 1,636,000 | 636,000 | 55,000 | -33,000 | |
other expense | -20,000 | -2,000 | -5,000 | -8,000 | -1,000 | 143,000 | ||||||||||||
change in fair value of earnout liability | 352,000 | -180,000 | 748,000 | -223,000 | -374,000 | 101,000 | 208,000 | 201,000 | 442,000 | 2,496,000 | -2,063,000 | 2,153,000 | -1,299,000 | 4,891,000 | -2,264,000 | -3,695,000 | ||
change in fair value of warrant liabilities | 2,092,000 | 574,000 | 360,000 | 5,344,000 | -4,084,000 | -2,910,000 | 677,000 | 1,718,000 | 1,378,000 | 4,774,000 | 7,391,000 | -6,380,000 | ||||||
total other income | 1,328,000 | 510,000 | 994,000 | 7,264,000 | -2,963,000 | -1,476,000 | 2,834,000 | 4,190,000 | 4,227,000 | 8,115,000 | 12,085,000 | 25,435,000 | -10,876,000 | 54,068,000 | -49,520,000 | |||
loss before income tax benefit | -11,039,000 | -33,574,000 | ||||||||||||||||
income tax benefit | 5,000 | 5,218,000 | ||||||||||||||||
net income | -11,034,000 | -28,356,000 | -29,821,000 | -26,227,000 | -35,608,000 | -33,290,000 | -29,610,000 | -28,193,000 | -36,589,000 | -28,257,000 | -21,539,000 | -49,081,000 | -17,049,000 | -50,922,000 | 16,997,000 | -55,266,000 | 23,591,000 | |
yoy | -69.01% | -14.82% | 0.71% | -6.97% | -2.68% | 17.81% | 37.47% | -42.56% | 114.61% | -44.51% | -226.72% | -11.19% | -315.85% | |||||
qoq | -61.09% | -4.91% | 13.70% | -26.35% | 6.96% | 12.43% | 5.03% | -22.95% | 29.49% | 31.19% | -56.12% | 187.88% | -66.52% | -399.59% | -130.75% | |||
net income margin % | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -131.90% | -80.49% | -42.61% | -194.00% | -62.62% | -484.56% | 187.27% | -717.74% | NaN% | 381.67% |
less: net loss attributable to redeemable noncontrolling interest | -6,205,000 | -15,971,000 | -16,823,000 | -14,865,000 | -23,193,000 | -21,581,000 | -19,233,000 | -18,360,000 | -23,985,000 | -18,536,000 | -36,005,000 | -40,867,000 | ||||||
net loss attributable to class a common stockholders | -4,829,000 | -12,385,000 | -12,998,000 | -11,362,000 | -12,415,000 | -11,709,000 | -10,377,000 | -9,833,000 | -12,604,000 | -9,721,000 | -13,076,000 | -14,399,000 | ||||||
net income per share | -0.04 | -0.09 | -0.1 | -0.09 | -0.11 | -0.11 | -0.1 | -0.09 | -0.12 | -0.09 | -0.08 | -0.18 | -0.07 | -0.19 | 0.06 | -0.21 | 0.09 | |
loss before income tax expense | -29,818,000 | -26,136,000 | -22,749,500 | -33,265,000 | -29,553,000 | -28,180,000 | -36,589,000 | -28,257,000 | -49,076,000 | -17,053,000 | -50,922,000 | -55,261,000 | ||||||
income tax expense | -3,000 | -91,000 | -23,750 | -25,000 | -57,000 | -13,000 | -37,000 | -5,000 | 4,000 | -17,000 | -5,000 | |||||||
cost of revenue | 20,635,250 | 25,884,000 | 37,740,000 | 18,917,000 | 22,365,000 | 8,530,000 | 5,719,000 | 4,846,000 | ||||||||||
general and administrative expenses | 26,055,750 | 32,001,000 | 34,333,000 | 37,889,000 | ||||||||||||||
other comprehensive loss, net of tax | ||||||||||||||||||
net change in unrealized income on available-for-sale securities | ||||||||||||||||||
comprehensive loss | -24,719.25 | -28,257 | ||||||||||||||||
less: comprehensive loss attributable to redeemable noncontrolling interest | -17,263.5 | -18,536 | ||||||||||||||||
comprehensive loss attributable to class a common stockholders | -7,455.75 | -9,721 | ||||||||||||||||
income before income tax expense | -21,502,000 | 17,014,000 | ||||||||||||||||
less: net income attributable to redeemable noncontrolling interest | -14,513,000 | -16,513,250 | -37,704,000 | 12,518,000 | ||||||||||||||
net income attributable to class a common stockholders | -7,026,000 | -5,784,500 | -13,218,000 | 4,479,000 | 6,130,000 | |||||||||||||
net change in unrealized loss on available-for-sale securities | ||||||||||||||||||
comprehensive income | -21,539 | -22,297.75 | -50,875 | 16,950 | ||||||||||||||
less: comprehensive income attributable to redeemable noncontrolling interest | -14,513 | -16,513.25 | -37,669 | 12,483 | ||||||||||||||
comprehensive income attributable to class a common stockholders | -7,026 | -5,784.5 | -13,206 | 4,467 | ||||||||||||||
total other expense | -6,444,000 | -25,346,000 | ||||||||||||||||
revenue from related party | ||||||||||||||||||
depreciation and amortization | 3,185,500 | 5,187,000 | 4,101,000 | 3,454,000 | 3,020,000 | |||||||||||||
gross loss | -1,099,000 | -3,208,000 | -744,000 | -600,000 | ||||||||||||||
interest expense, related party | 11,000 | |||||||||||||||||
change in fair value of warrant liability | 21,176,000 | -10,858,000 | 48,712,000 | -22,874,000 | -45,946,000 | |||||||||||||
other comprehensive income, net of tax: | ||||||||||||||||||
net change in unrealized gain on available-for-sale securities | 47 | |||||||||||||||||
other comprehensive loss, net of tax: | ||||||||||||||||||
net unrealized loss on available-for-sale securities | -47 | |||||||||||||||||
weighted-average basic and diluted shares used in computation of earnings per share | 68,023 | 68,015 | ||||||||||||||||
revenue from related parties | ||||||||||||||||||
cost of revenues | 4,814,000 | |||||||||||||||||
transaction bonus | ||||||||||||||||||
depreciation, amortization, and accretion | 3,394,000 | |||||||||||||||||
other income, related party | ||||||||||||||||||
less: net income attributable to noncontrolling interest | 17,461,000 | |||||||||||||||||
weighted-average number of shares outstanding used in computation of earnings per share: | ||||||||||||||||||
basic and diluted | 68,018 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-06-30 | 2021-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | ||||||||||||||||||
current assets | ||||||||||||||||||
cash and cash equivalents | 151,000,000 | 181,327,000 | 154,468,000 | 150,008,000 | 117,273,000 | |||||||||||||
restricted cash, current | 49,519,000 | 12,151,000 | 22,425,000 | 14,771,000 | ||||||||||||||
accounts receivable | 38,628,000 | 40,085,000 | 31,860,000 | 43,050,000 | 45,849,000 | 35,395,000 | 34,771,000 | 35,262,000 | 34,882,000 | 25,655,000 | 22,497,000 | 29,263,000 | 11,075,000 | 6,545,000 | 4,860,000 | 2,815,000 | ||
accounts receivable, capital-build | 19,461,000 | 13,827,000 | 16,239,000 | 19,077,000 | 17,732,000 | 15,812,000 | 13,217,000 | 12,096,000 | 9,297,000 | 13,179,000 | 11,203,000 | 9,418,000 | 8,011,000 | 8,957,000 | ||||
prepaids and other current assets | 37,872,000 | 37,338,000 | 27,386,000 | 24,372,000 | 21,282,000 | |||||||||||||
total current assets | 296,480,000 | 284,728,000 | 252,378,000 | 251,278,000 | 205,375,000 | 223,905,000 | 225,471,000 | 239,027,000 | 267,406,000 | 278,339,000 | 297,146,000 | 216,771,000 | 275,484,000 | 322,810,000 | 389,894,000 | 457,378,000 | 264,472,241 | 805,918 |
restricted cash, noncurrent | 10,227,000 | 7,656,000 | 6,484,000 | 5,801,000 | ||||||||||||||
property, equipment and software | 460,747,000 | 435,417,000 | 415,714,000 | 413,869,000 | 414,968,000 | 407,650,000 | 403,418,000 | 393,693,000 | 389,227,000 | 397,927,000 | 383,822,000 | 367,195,000 | 308,112,000 | 264,465,000 | 209,089,000 | 166,134,000 | ||
operating lease right-of-use assets | 102,966,000 | 103,402,000 | 93,879,000 | 91,301,000 | 89,295,000 | 85,609,000 | 79,444,000 | 75,232,000 | 67,724,000 | 56,190,000 | 53,895,000 | 54,670,000 | 51,856,000 | 44,507,000 | 34,433,000 | |||
other assets | 30,937,000 | 35,960,000 | 30,273,000 | 25,920,000 | 24,321,000 | 2,173,000 | 2,098,000 | 2,149,000 | 2,208,000 | 1,888,000 | 2,115,000 | 2,137,000 | 2,308,000 | 2,553,000 | 2,419,000 | 2,698,000 | ||
intangible assets | 32,421,000 | 33,616,000 | 34,877,000 | 36,760,000 | 38,750,000 | 41,297,000 | 43,845,000 | 46,392,000 | 48,997,000 | 51,901,000 | 54,805,000 | 57,708,000 | 60,612,000 | 63,516,000 | 66,420,000 | 69,323,000 | ||
goodwill | 31,052,000 | 31,052,000 | 31,052,000 | 31,052,000 | 31,052,000 | 31,052,000 | 31,052,000 | 31,052,000 | 31,052,000 | 31,052,000 | 31,052,000 | 31,052,000 | 31,052,000 | 31,052,000 | 31,052,000 | 31,052,000 | ||
total assets | 964,830,000 | 931,831,000 | 864,657,000 | 855,981,000 | 803,761,000 | 791,686,000 | 785,328,000 | 787,545,000 | 806,614,000 | 817,297,000 | 823,135,000 | 729,833,000 | 729,724,000 | 729,203,000 | 740,404,000 | 750,638,000 | 494,481,421 | 230,812,755 |
liabilities, redeemable noncontrolling interest and stockholders’ deficit | ||||||||||||||||||
current liabilities | ||||||||||||||||||
accounts payable | 7,582,000 | 16,157,000 | 9,828,000 | 16,166,000 | 13,031,000 | 12,583,000 | 16,165,000 | 10,087,000 | 10,133,000 | 17,605,000 | 6,445,000 | 18,640,000 | 9,128,000 | 3,665,000 | 1,716,000 | 8,442,000 | ||
accrued liabilities | 59,924,000 | 58,331,000 | 53,381,000 | 34,632,000 | 42,953,000 | 40,283,000 | 38,742,000 | 34,971,000 | 40,549,000 | 38,112,000 | 40,831,000 | 40,126,000 | 39,233,000 | 46,050,000 | 43,426,000 | 28,929,000 | ||
operating lease liabilities, current | 7,765,000 | 7,381,000 | 7,039,000 | 6,963,000 | 7,326,000 | 6,471,000 | 6,484,000 | 6,515,000 | 6,018,000 | 5,719,000 | 5,575,000 | 5,590,000 | 4,958,000 | 4,701,000 | 3,954,000 | |||
deferred revenue, current | 55,060,000 | 44,418,000 | 45,890,000 | 50,599,000 | 46,258,000 | 31,782,000 | 28,610,000 | 29,898,000 | 23,114,000 | 19,904,000 | 16,701,000 | 24,529,000 | 16,023,000 | 9,479,000 | 4,681,000 | 4,634,000 | ||
earnout liability, at fair value | 22,000 | 374,000 | 374,000 | 194,000 | 942,000 | 719,000 | 345,000 | 446,000 | 654,000 | 855,000 | 1,297,000 | 3,793,000 | 1,730,000 | 3,883,000 | 2,584,000 | 7,475,000 | ||
warrant liabilities, at fair value | 1,370,000 | 3,462,000 | 4,036,000 | 4,396,000 | 9,740,000 | 5,656,000 | 2,746,000 | 3,423,000 | 5,141,000 | 6,519,000 | 11,293,000 | 18,684,000 | ||||||
long-term debt, current | 2,146,000 | 1,242,000 | ||||||||||||||||
other current liabilities | 1,453,000 | 2,063,000 | 2,013,000 | 2,537,000 | 1,842,000 | 11,146,000 | 94,000 | 154,000 | 298,000 | 61,000 | 280,000 | 415,000 | 136,000 | 611,000 | 136,000 | 164,000 | ||
total current liabilities | 135,322,000 | 133,428,000 | 118,151,000 | 110,897,000 | 111,410,000 | 102,265,000 | 90,095,000 | 81,625,000 | 89,347,000 | 92,309,000 | 81,218,000 | 102,133,000 | 87,345,000 | 74,327,000 | 63,419,000 | 55,928,000 | 6,184,054 | 2,216,885 |
operating lease liabilities, noncurrent | 96,983,000 | 97,229,000 | 87,792,000 | 85,293,000 | 83,043,000 | 79,464,000 | 73,239,000 | 69,039,000 | 61,987,000 | 50,216,000 | 47,753,000 | 48,234,000 | 45,689,000 | 38,326,000 | 28,814,000 | |||
asset retirement obligations | 30,868,000 | 25,675,000 | 25,597,000 | 25,384,000 | 23,793,000 | 20,109,000 | 19,829,000 | 18,968,000 | 18,232,000 | 19,355,000 | 18,477,000 | 17,371,000 | 15,473,000 | 16,478,000 | 16,274,000 | 14,074,000 | ||
capital-build liability | 55,820,000 | 52,481,000 | 53,273,000 | 52,191,000 | 51,705,000 | 47,021,000 | 41,479,000 | 38,103,000 | 35,787,000 | 33,434,000 | 30,345,000 | 28,152,000 | 26,157,000 | 25,617,000 | 25,070,000 | 24,385,000 | ||
deferred revenue, noncurrent | 47,711,000 | 70,147,000 | 70,609,000 | 70,265,000 | 70,466,000 | 70,666,000 | 64,290,000 | 58,808,000 | 55,091,000 | 46,174,000 | 42,162,000 | 37,175,000 | 23,900,000 | 20,918,000 | 21,600,000 | 21,658,000 | ||
long-term debt, noncurrent | 204,316,000 | 156,055,000 | ||||||||||||||||
other long-term liabilities | 7,866,000 | 7,591,000 | 7,705,000 | 8,191,000 | 8,931,000 | |||||||||||||
total liabilities | 578,886,000 | 542,606,000 | 464,077,000 | 433,107,000 | 360,030,000 | 325,900,000 | 292,023,000 | 270,412,000 | 266,239,000 | 248,862,000 | 232,545,000 | 255,542,000 | 212,598,000 | 213,029,000 | 180,382,000 | 214,475,000 | 361,589,196 | 72,121,885 |
long-term debt | 96,540,000 | 76,296,000 | ||||||||||||||||
restricted cash | 3,239,000 | 300,000 | 300,000 | 300,000 | 300,000 | 300,000 | 300,000 | |||||||||||
commitments and contingencies | ||||||||||||||||||
cash, cash equivalents and restricted cash | 153,406,000 | 162,736,000 | 175,526,000 | 209,146,000 | 228,709,000 | 257,126,000 | 163,512,000 | 246,193,000 | ||||||||||
prepaid expenses and other current assets | 19,292,000 | 14,747,000 | 16,143,000 | 14,081,000 | 10,796,000 | |||||||||||||
liabilities, redeemable noncontrolling interest and stockholders’ equity | ||||||||||||||||||
customer deposits | 9,235,000 | 10,908,000 | 11,386,000 | 12,833,000 | 17,867,000 | 9,797,000 | 9,482,000 | 10,730,000 | ||||||||||
prepaid expenses | 2,783,000 | 4,077,000 | 4,953,000 | 4,797,000 | 2,333,000 | 4,168,000 | 209,510 | 420,646 | ||||||||||
other current assets | 3,537,000 | 10,501,000 | 5,252,000 | 1,831,000 | 1,295,000 | 1,414,000 | ||||||||||||
receivable from related party | ||||||||||||||||||
warrant liability, at fair value | 12,304,000 | 33,480,000 | 22,621,000 | 71,334,000 | ||||||||||||||
other liabilities | ||||||||||||||||||
cash and restricted cash | 300,680,000 | 441,079,000 | ||||||||||||||||
payables to related parties | 24,000 | 24,000 | 25,000 | |||||||||||||||
cash, restricted cash and cash equivalents | 344,707,000 | |||||||||||||||||
short-term investments | 27,776,000 | |||||||||||||||||
total cash, restricted cash, cash equivalents and short-term investments | 372,483,000 | |||||||||||||||||
accounts receivable, capital build | 8,923,000 | 7,902,000 | ||||||||||||||||
long-term investments | 6,797,000 | |||||||||||||||||
liabilities, redeemable noncontrolling interest and stockholders' deficit | ||||||||||||||||||
redeemable noncontrolling interest | 1,176,758,000 | |||||||||||||||||
stockholders’ deficit | ||||||||||||||||||
preferred stock, 0.0001 par value... | ||||||||||||||||||
class a common stock, 0.0001 par value... | 7,000 | 1,021 | 763 | |||||||||||||||
class b common stock, 0.0001 par value... | 20,000 | 575 | 575 | |||||||||||||||
additional paid-in capital | 6,583,000 | 76,021,428 | 50,223,046 | |||||||||||||||
accumulated deficit | -623,299,000 | -71,023,019 | -45,224,374 | |||||||||||||||
accumulated other comprehensive loss | -47,000 | |||||||||||||||||
total stockholders' deficit | -616,736,000 | |||||||||||||||||
total liabilities, redeemable noncontrolling interest and stockholders’ deficit | 740,404,000 | |||||||||||||||||
right-of-use assets | 23,753,000 | |||||||||||||||||
lease liabilities, current | 3,004,000 | |||||||||||||||||
lease liabilities, noncurrent | 19,621,000 | |||||||||||||||||
cash | 264,262,731 | 385,272 | ||||||||||||||||
investments held in trust account | 230,009,180 | 230,006,837 | ||||||||||||||||
liabilities and stockholders’ equity | ||||||||||||||||||
accrued expenses | 5,904,054 | 2,216,885 | ||||||||||||||||
accrued offering costs | ||||||||||||||||||
note payable – evgo holdings, llc | 280,000 | |||||||||||||||||
warrant liability | 83,262,182 | 61,855,000 | ||||||||||||||||
pipe investment | 264,092,960 | |||||||||||||||||
deferred underwriting fee payable | 8,050,000 | 8,050,000 | ||||||||||||||||
class a common stock | 127,892,220 | 153,690,860 | ||||||||||||||||
stockholders’ equity | ||||||||||||||||||
total stockholders’ equity | 5,000,005 | 5,000,010 | ||||||||||||||||
total liabilities and stockholders’ equity | 494,481,421 | 230,812,755 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities | |||||||||||||||||
net loss | -11,034,000 | -28,356,000 | -29,821,000 | -26,227,000 | -35,608,000 | -33,290,000 | -29,610,000 | -28,193,000 | -36,589,000 | -28,257,000 | -21,539,000 | -49,081,000 | -17,049,000 | -50,922,000 | 16,997,000 | -55,266,000 | -11,441,000 |
adjustments to reconcile net loss to net cash from operating activities | |||||||||||||||||
depreciation, amortization and accretion | 18,332,000 | 17,168,000 | 18,466,000 | 20,050,000 | 17,759,000 | 16,585,000 | 16,107,000 | 15,344,000 | 15,175,000 | 13,594,000 | 12,066,000 | 11,126,000 | 10,641,000 | 9,703,000 | 8,233,000 | 7,341,000 | |
net loss on disposal of property and equipment, net of insurance recoveries, and impairment expense | 4,738,000 | 4,409,000 | 3,319,000 | 1,199,000 | 964,000 | 731,000 | 2,757,000 | 2,740,000 | 3,431,000 | ||||||||
share-based compensation | 7,552,000 | 7,033,000 | 7,031,000 | 5,494,000 | 6,486,000 | 5,370,000 | 5,402,000 | 4,701,000 | 8,701,000 | 6,101,000 | 8,495,000 | 6,427,000 | 7,607,000 | 6,893,000 | 7,042,000 | 3,506,000 | 5,293,000 |
bad debt expense | |||||||||||||||||
change in fair value of earnout liability | -352,000 | 0 | 180,000 | -748,000 | 223,000 | 374,000 | -101,000 | -208,000 | -201,000 | -442,000 | -2,496,000 | 2,063,000 | -2,153,000 | 1,299,000 | -4,891,000 | 2,264,000 | -3,695,000 |
change in fair value of warrant liabilities | -2,092,000 | -574,000 | -360,000 | -5,344,000 | 4,084,000 | 2,910,000 | -677,000 | -1,718,000 | -1,378,000 | -4,774,000 | -7,391,000 | 6,380,000 | |||||
paid-in-kind interest, amortization of deferred debt issuance costs, net of capitalized interest | 1,333,000 | 1,202,000 | 888,000 | 513,000 | |||||||||||||
gain on sales-type lease | -38,000 | -287,000 | |||||||||||||||
write off of equity issuance costs | |||||||||||||||||
other | -11,000 | -67,000 | 76,000 | 7,000 | -36,000 | 0 | 0 | 5,000 | 11,000 | 178,000 | -454,000 | 47,000 | 186,000 | 288,000 | 454,000 | ||
changes in operating assets and liabilities | |||||||||||||||||
accounts receivable | -4,605,000 | -8,224,000 | 11,190,000 | 2,798,000 | -10,454,000 | -624,000 | 491,000 | -379,000 | -9,229,000 | -3,159,000 | 6,766,000 | -18,188,000 | -4,529,000 | -1,685,000 | -2,045,000 | -257,000 | -3,505,000 |
prepaids and other current assets and other assets | -2,448,000 | -10,119,000 | 167,000 | -4,810,000 | |||||||||||||
operating lease assets and liabilities | 573,000 | 256,000 | -2,000 | -119,000 | 747,000 | 48,000 | -43,000 | 40,000 | 537,000 | 313,000 | 277,000 | 365,000 | 563,000 | -274,000 | 1,327,000 | -2,135,000 | |
accounts payable | -4,368,000 | 3,506,000 | -5,507,000 | 632,000 | 4,762,000 | -5,920,000 | 6,267,000 | -137,000 | -2,127,000 | 5,653,000 | -9,365,000 | 6,493,000 | 1,416,000 | 55,000 | -254,000 | 154,000 | -204,000 |
accrued liabilities | 9,287,000 | -6,112,000 | 16,394,000 | -7,657,000 | 153,000 | 8,885,000 | -169,000 | -5,595,000 | 6,040,000 | -678,000 | 3,724,000 | -799,000 | 5,753,000 | 1,209,000 | 2,954,000 | -2,596,000 | 2,321,000 |
deferred revenue | -11,794,000 | -1,935,000 | -4,365,000 | 4,141,000 | 14,276,000 | 9,547,000 | 4,195,000 | 1,266,000 | 12,127,000 | 7,216,000 | -2,842,000 | 21,781,000 | 9,526,000 | 4,116,000 | -11,000 | -561,000 | 20,943,000 |
other current and noncurrent liabilities | -664,000 | -728,000 | -1,067,000 | -175,000 | -11,325,000 | 10,860,000 | -150,000 | -185,000 | 308,000 | -512,000 | -17,000 | 79,000 | -814,000 | 584,000 | -191,000 | -653,000 | -1,042,000 |
net cash from operating activities | 11,257,000 | -22,828,000 | 14,089,000 | -10,246,000 | -12,831,000 | 12,101,000 | 7,556,000 | -14,082,000 | -7,274,000 | -7,256,000 | -3,182,000 | -19,343,000 | -1,457,000 | -18,967,000 | -18,539,000 | -19,831,000 | -17,797,000 |
cash flows from investing activities | |||||||||||||||||
capital expenditures | -49,364,000 | -26,152,000 | -26,199,000 | -14,992,000 | -23,685,000 | -25,835,000 | -24,196,000 | -21,071,000 | 0 | -24,028,000 | -40,824,000 | -38,406,000 | -66,366,000 | -61,594,000 | -44,017,000 | -28,274,000 | -39,679,000 |
free cash flows | -38,107,000 | -48,980,000 | -12,110,000 | -25,238,000 | -36,516,000 | -13,734,000 | -16,640,000 | -35,153,000 | -7,274,000 | -31,284,000 | -44,006,000 | -57,749,000 | -67,823,000 | -80,561,000 | -62,556,000 | -48,105,000 | -57,476,000 |
proceeds from insurance for property losses | 0 | 0 | 2,000 | 22,000 | 82,000 | 82,000 | 104,000 | 48,000 | 69,000 | 83,000 | -19,000 | 527,000 | 0 | 202,000 | |||
net cash from investing activities | -49,364,000 | -26,152,000 | -26,197,000 | -14,970,000 | -23,603,000 | -25,753,000 | -24,092,000 | -21,023,000 | -19,469,000 | -23,945,000 | -34,652,000 | -65,246,000 | -66,385,000 | -26,486,000 | -78,764,000 | -28,072,000 | -62,441,000 |
cash flows from financing activities | |||||||||||||||||
proceeds from long-term debt | 47,358,000 | 59,356,000 | 18,889,000 | 75,291,000 | |||||||||||||
proceeds from capital-build funding | 1,073,000 | 5,044,000 | 7,180,000 | 1,871,000 | 5,563,000 | 5,740,000 | 4,459,000 | 1,680,000 | 7,353,000 | 2,823,000 | 2,040,000 | 2,216,000 | |||||
contribution from redeemable noncontrolling interest | -1,000 | ||||||||||||||||
payments of withholding tax on net issuance of restricted stock units | -286,000 | -89,000 | -1,000 | -528,000 | |||||||||||||
payments of deferred debt issuance costs | -425,000 | -7,137,000 | -1,163,000 | -1,350,000 | -8,672,000 | -1,418,000 | -713,000 | -195,000 | |||||||||
net cash from financing activities | 47,719,000 | 66,737,000 | 24,905,000 | 75,284,000 | 3,540,000 | 4,322,000 | 3,746,000 | 1,485,000 | 7,180,000 | 2,484,000 | 131,448,000 | 1,908,000 | 13,355,000 | 1,426,000 | 931,000 | 4,101,000 | 593,452,000 |
net increase in cash, cash equivalents and restricted cash | 9,612,000 | 17,757,000 | 12,797,000 | 50,068,000 | |||||||||||||
cash, cash equivalents and restricted cash, beginning of year | |||||||||||||||||
cash, cash equivalents and restricted cash, end of year | |||||||||||||||||
cash, cash equivalents and restricted cash, beginning of period | 0 | 0 | 120,512,000 | 0 | 0 | 0 | 209,146,000 | 0 | 0 | 0 | 246,493,000 | ||||||
cash, cash equivalents and restricted cash, end of period | 17,757,000 | 12,797,000 | 170,580,000 | -32,894,000 | -9,330,000 | -12,790,000 | 175,526,000 | -19,563,000 | -28,717,000 | 93,614,000 | 163,812,000 | ||||||
proceeds from sale-leaseback transactions | |||||||||||||||||
proceeds from issuance of class a common stock under the equity offering | 0 | 0 | |||||||||||||||
proceeds from issuance of class a common stock under the atm | 0 | 0 | |||||||||||||||
payments of deferred equity issuance costs | |||||||||||||||||
net decrease in cash, cash equivalents and restricted cash | -32,894,000 | -33,620,000 | -19,563,000 | -82,681,000 | |||||||||||||
prepaid expenses, other current assets and other assets | -3,375,000 | 3,087,000 | -1,763,000 | ||||||||||||||
receivables from related parties | 0 | 1,000 | 0 | 1,499,000 | -71,000 | ||||||||||||
prepaid expenses and other current assets and other assets | |||||||||||||||||
customer deposits | -1,673,000 | -478,000 | -1,447,000 | -5,034,000 | 8,070,000 | 315,000 | -1,248,000 | -862,000 | 4,641,000 | ||||||||
purchases of investments | 0 | -2,585,000 | |||||||||||||||
proceeds from sale of investments | 0 | ||||||||||||||||
proceeds from exercise of warrants | 0 | 0 | 1,000 | 2,000 | |||||||||||||
payables to related parties | 0 | -1,000 | 25,000 | 458,000 | |||||||||||||
purchases of property, equipment and software | -24,028,000 | -34,811,000 | -65,246,000 | -66,366,000 | -61,594,000 | -44,017,000 | -28,274,000 | -39,679,000 | |||||||||
payments of deferred transaction costs | |||||||||||||||||
net loss on disposal of property and equipment and impairment expense | 2,548,000 | 3,460,000 | |||||||||||||||
prepaid expenses and other current and noncurrent assets | 8,194,000 | -4,415,000 | -3,204,000 | -2,895,000 | 197,000 | 3,538,000 | -5,188,000 | ||||||||||
payments of issuance costs | |||||||||||||||||
supplemental disclosure of noncash investing and financing activities | |||||||||||||||||
fair value adjustment to redeemable noncontrolling interest | -643,234,000 | 685,612,000 | |||||||||||||||
purchases of property and equipment in accounts payable and accrued liabilities | -6,013,000 | 26,840,000 | |||||||||||||||
non-cash increase in accounts receivable, capital-build, and capital-build liability | 3,824,000 | 3,624,000 | |||||||||||||||
non-cash increase in asset retirement obligations | 628,000 | 1,377,000 | |||||||||||||||
issuance costs in accounts payable and accrued liabilities | |||||||||||||||||
payments of issuance costs and deferred transaction costs | -308,000 | ||||||||||||||||
accrued transaction costs | |||||||||||||||||
interest expense, related party | |||||||||||||||||
change in fair value of warrant liability | -21,176,000 | 10,858,000 | -48,713,000 | 22,874,000 | -45,946,000 | ||||||||||||
acquisition of business, net of cash received | -22,762,000 | ||||||||||||||||
issuance of common stock under the atm | |||||||||||||||||
proceeds from cris business combination | 601,579,000 | ||||||||||||||||
proceeds from note payable, related party | 24,000,000 | ||||||||||||||||
payments on note payable, related party | -5,500,000 | ||||||||||||||||
payment of transaction costs for cris business combination | -28,143,000 | ||||||||||||||||
cash and restricted cash, beginning of period | 0 | 485,181,000 | 7,914,000 | ||||||||||||||
net loss on disposal of property and equipment | 1,729,000 | 1,879,000 | 1,010,000 | 639,000 | |||||||||||||
capital-build funding | 1,835,000 | 930,000 | 4,099,000 | 1,516,000 | |||||||||||||
payment of deferred transaction costs | |||||||||||||||||
net increase in cash and restricted cash | -43,802,000 | 513,214,000 | |||||||||||||||
cash and restricted cash, end of period | 441,379,000 | 521,128,000 | |||||||||||||||
net decrease in cash, restricted cash and cash equivalents | |||||||||||||||||
cash, restricted cash and cash equivalents, beginning of period | |||||||||||||||||
cash, restricted cash and cash equivalents, end of period | |||||||||||||||||
relief of contingent consideration | |||||||||||||||||
contributions | |||||||||||||||||
cash and restricted cash, end of period1 | |||||||||||||||||
depreciation, amortization, and accretion | 16,620,000 | ||||||||||||||||
interest on note payable, related party | 1,926,000 |