EVgo Inc

investors.evgo.com

What Do They Do?

Sells fast charging to EV drivers through a public network and builds and services charging sites for fleets and business partners.

How Do They Make Money?

Drivers pay for electricity by the amount delivered, charging time or a fee, with monthly memberships; fleets are billed for electricity delivered. eXtend customers pay for equipment and site work when delivered or as construction milestones are met, then for operations and maintenance; dedicated-fleet charging may be priced by volume or fixed and variable payments.

revenue

Segment	Share	How money arrives
Charging network Mix	57%	Mix
eXtend revenue	30% FY2022: 34%
Ancillary revenue	13% FY2022: 8.9%

Who Are Their Customers?

EV drivers use public chargers directly, while fleets and automakers contract directly for charging and related services; businesses can buy eXtend charging-site equipment and services.

Customers above 10% of revenue, FY2025

of revenue from one customer

FY2024: 34% from one customer

Do Revenues Turn Into Profits?

No. It lost $41.6M in FY2025.

Operating income, FY2025

−29% of revenue

▼ −16% (Loss) vs FY2024 (−$131.6M, −51%)

Net income, FY2025

−11% of revenue

▼ −6% (Loss) vs FY2024 (−$44.3M, −17%)

Free cash flow, FY2025

−32% of revenue

▲ +22% (Loss) vs FY2024 (−$102M, −40%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▼ −16%; vs $98M in Q2 FY2025
Net income: ▲ +60% (Loss); vs −$13M in Q2 FY2025

Total charging network share of revenue vs 52.9% in Q2 FY2025

Aug 5, 2026 EVgo updated guidance and agreed to deploy Tesla Superchargers The updated outlook puts 2026 revenue at $400 – $430 million; the Tesla agreement covers EVgo-owned, branded V4 Superchargers starting in 2026.

Growing. Revenue grew 17.3x in 4 years, from $22.2M in FY2021 to $384.1M in FY2025, about 104% a year.

Fleet customer focus The older report described fleet solutions for light-, medium- and heavy-duty EVs, while the latest frames commercial charging as focused largely on rideshare and also describes charging on fleets’ own depots, at off-site hubs or on the public network.

Revenue over time

Charging network eXtend revenue Ancillary revenue Charging Revenue Retail Regulatory Credit Sales Charging Revenue Commercial Charging Revenue OEM Network Revenue, OEM

$500M$250M$0

FY2021 FY2022 FY2023 FY2024 FY2025

Who Do They Compete With?

Competes with Tesla, Electrify America, ChargePoint, Ionna, and Blink

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