2023 Q4 Form 10-K Financial Statement

#000155837024002608 Filed on March 06, 2024

View on sec.gov

Income Statement

Concept 2023 Q4 2023
Revenue $49.99M $161.0M
YoY Change 83.11% 194.85%
Cost Of Revenue $46.45M $151.2M
YoY Change 63.56% 151.06%
Gross Profit $3.540M $9.714M
YoY Change -422.11% -271.9%
Gross Profit Margin 7.08% 6.04%
Selling, General & Admin $33.32M $125.3M
YoY Change -6.23% 1.79%
% of Gross Profit 941.13% 1289.97%
Research & Development $5.700M
YoY Change 18.75%
% of Gross Profit 58.68%
Depreciation & Amortization $15.17M $51.96M
YoY Change 42.61% 44.67%
% of Gross Profit 428.67% 534.91%
Operating Expenses $40.93M $163.1M
YoY Change -1.12% 13.4%
Operating Profit -$37.39M -$153.4M
YoY Change -12.01% 2.61%
Interest Expense $2.648M $9.744M
YoY Change 25.74% 46300.0%
% of Operating Profit
Other Income/Expense, Net $1.579M $17.98M
YoY Change -93.23% -58.45%
Pretax Income -$36.59M -$135.4M
YoY Change 114.56% 27.49%
Income Tax $0.00 $42.00K
% Of Pretax Income
Net Earnings -$12.27M -$42.43M
YoY Change 179.37% 53.86%
Net Earnings / Revenue -24.54% -26.36%
Basic Earnings Per Share -$0.46
Diluted Earnings Per Share -$0.12 -$0.46
COMMON SHARES
Basic Shares Outstanding 91.31M
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $209.1M $209.1M
YoY Change -15.05% -15.05%
Cash & Equivalents $209.1M
Short-Term Investments
Other Short-Term Assets $14.08M $14.08M
YoY Change 168.11% 37.98%
Inventory
Prepaid Expenses
Receivables $34.88M $44.18M
Other Receivables $0.00 $0.00
Total Short-Term Assets $267.4M $267.4M
YoY Change -2.93% -2.93%
LONG-TERM ASSETS
Property, Plant & Equipment $389.2M $457.0M
YoY Change 26.33% 26.94%
Goodwill $31.05M
YoY Change 0.0%
Intangibles $49.00M
YoY Change -19.16%
Long-Term Investments
YoY Change
Other Assets $2.208M $2.208M
YoY Change -4.33% -15.34%
Total Long-Term Assets $539.2M $539.2M
YoY Change 18.71% 18.71%
TOTAL ASSETS
Total Short-Term Assets $267.4M $267.4M
Total Long-Term Assets $539.2M $539.2M
Total Assets $806.6M $806.6M
YoY Change 10.54% 10.54%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.13M $10.13M
YoY Change 11.01% 11.01%
Accrued Expenses $40.55M $46.57M
YoY Change 3.35% 5.38%
Deferred Revenue $23.11M
YoY Change 44.26%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $89.35M $89.35M
YoY Change 2.29% 2.29%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $176.9M $176.9M
YoY Change 41.23% 41.23%
Total Long-Term Liabilities $176.9M $176.9M
YoY Change 41.23% 41.23%
TOTAL LIABILITIES
Total Short-Term Liabilities $89.35M $89.35M
Total Long-Term Liabilities $176.9M $176.9M
Total Liabilities $266.2M $967.2M
YoY Change 25.23% -11.09%
SHAREHOLDERS EQUITY
Retained Earnings -$248.5M
YoY Change -33.84%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$160.6M -$160.6M
YoY Change
Total Liabilities & Shareholders Equity $806.6M $806.6M
YoY Change 10.54% 10.54%

Cashflow Statement

Concept 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$12.27M -$42.43M
YoY Change 179.37% 53.86%
Depreciation, Depletion And Amortization $15.17M $51.96M
YoY Change 42.61% 44.67%
Cash From Operating Activities -$7.274M -$37.06M
YoY Change 399.25% -36.97%
INVESTING ACTIVITIES
Capital Expenditures $34.81M $158.9M
YoY Change -47.55% -20.65%
Acquisitions
YoY Change
Other Investing Activities $15.34M $15.58M
YoY Change -80847.37% 2764.71%
Cash From Investing Activities -$19.47M -$143.3M
YoY Change -70.67% -28.24%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 7.180M 143.0M
YoY Change -46.24% 621.85%
NET CHANGE
Cash From Operating Activities -7.274M -37.06M
Cash From Investing Activities -19.47M -143.3M
Cash From Financing Activities 7.180M 143.0M
Net Change In Cash -19.56M -37.35M
YoY Change -64.1% -84.35%
FREE CASH FLOW
Cash From Operating Activities -$7.274M -$37.06M
Capital Expenditures $34.81M $158.9M
Free Cash Flow -$42.09M -$196.0M
YoY Change -37.95% -24.36%

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CY2022 evgo Increase Decrease In Operating Lease Assets And Liabilities Net
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CY2023 us-gaap Increase Decrease In Accounts Payable
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CY2022 us-gaap Increase Decrease In Accounts Payable
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CY2023 us-gaap Increase Decrease In Accrued Liabilities
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CY2022 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
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CY2023 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
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CY2022 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
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CY2023 evgo Increase Decrease In Customer Deposits Liability
IncreaseDecreaseInCustomerDepositsLiability
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CY2022 evgo Increase Decrease In Customer Deposits Liability
IncreaseDecreaseInCustomerDepositsLiability
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CY2023 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
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CY2022 us-gaap Increase Decrease In Other Operating Liabilities
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CY2023 us-gaap Net Cash Provided By Used In Operating Activities
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CY2022 us-gaap Net Cash Provided By Used In Operating Activities
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CY2023 us-gaap Payments To Acquire Property Plant And Equipment
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CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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CY2023 us-gaap Sale Leaseback Transaction Gross Proceeds Investing Activities
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CY2023 us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
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CY2022 us-gaap Proceeds From Insurance Settlement Investing Activities
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CY2023 us-gaap Net Cash Provided By Used In Investing Activities
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CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2023 evgo Proceeds From Capital Build Funding
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CY2022 evgo Proceeds From Capital Build Funding
ProceedsFromCapitalBuildFunding
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CY2022 us-gaap Proceeds From Warrant Exercises
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CY2022 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2023 us-gaap Payments Of Financing Costs
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CY2023 us-gaap Payments Of Stock Issuance Costs
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CY2022 us-gaap Payments Of Stock Issuance Costs
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CY2023 us-gaap Net Cash Provided By Used In Financing Activities
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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AdjustmentsToAdditionalPaidInCapitalOther
84993000
CY2022 us-gaap Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
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CY2023 evgo Non Cash Increase In Capital Build Liability
NonCashIncreaseInCapitalBuildLiability
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CY2022 evgo Non Cash Increase In Capital Build Liability
NonCashIncreaseInCapitalBuildLiability
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CY2023 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
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CY2022 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
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CY2023 evgo Non Cash Increase In Asset Retirement Obligations
NonCashIncreaseInAssetRetirementObligations
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CY2022 evgo Non Cash Increase In Asset Retirement Obligations
NonCashIncreaseInAssetRetirementObligations
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CY2023 evgo Deferred Debt Issuance Included In Accounts Payable And Accrued Liabilities
DeferredDebtIssuanceIncludedInAccountsPayableAndAccruedLiabilities
187000
CY2022 evgo Deferred Equity Issuance Cost Included In Accounts Payable And Accrued Liabilities
DeferredEquityIssuanceCostIncludedInAccountsPayableAndAccruedLiabilities
312000
CY2023 us-gaap Nature Of Operations
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;text-align:justify;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;">Note 1 — Description of Business and Nature of Operations</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 10pt 0pt;">EVgo Inc. (“EVgo” or the “Company”) owns and operates a public direct current (“DC”) fast charging network for electric vehicles (“EVs”) in the United States (“U.S.”). EVgo’s network of charging stations provides EV charging infrastructure to consumers and businesses. Its network is capable of charging all EV models and charging standards currently available in the U.S. EVgo partners with automotive original equipment manufacturers (“OEMs”), fleet and rideshare operators, retail hosts such as grocery stores, shopping centers, gas stations, parking lot operators, governments and other organizations and property owners in order to locate and deploy its EV charging infrastructure. EVgo Services LLC (“EVgo Services”) was formed in October 2010 as NRG EV Services, LLC, a Delaware limited liability company and wholly owned subsidiary of NRG Energy, Inc., an integrated power company based in Houston, Texas (“NRG”). On June 17, 2016, NRG sold a majority interest in EVgo Services to Vision Ridge Partners.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 10pt 0pt;">On January 16, 2020 (the “Holdco Merger Date”), EVgo Holdco, LLC (“EVgo Holdco”), a Delaware limited liability company and a subsidiary of LS Power Equity Partners IV, L.P. (“LS Power”), completed an acquisition of EVgo Services LLC (“EVgo Services”), pursuant to the merger agreement (the “Holdco Merger Agreement”) among EVgo Services, its investors and EVgo Holdco, whereby EVgo Services became a wholly-owned subsidiary of EVgo Holdco, resulting in a change in control of EVgo Services (the “Holdco Merger”). LS Power formed EVgo Holdings, LLC (“EVgo Holdings”) and EVgo Holdco as part of the transaction.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 10pt 0pt;">EVgo Inc. was incorporated in Delaware on August 4, 2020 under the name Climate Change Crisis Real Impact I Acquisition Corporation (“CRIS”). The Company was formed for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses (the “Initial Business Combination”). On October 2, 2020, the Company completed its initial public offering (the “Initial Public Offering”). Simultaneously with the closing of the Initial Public Offering, the Company completed the sale of 6,600,000 warrants (the “Private Placement Warrants”) at $1.00 in a private placement to Climate Change Crisis Real Impact I Acquisition Holdings, LLC (the “Sponsor”).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 10pt 0pt;">On July 1, 2021 (the “CRIS Close Date”), the Company consummated the business combination (the “CRIS Business Combination”) with CRIS, CRIS Thunder Merger LLC (“Thunder Sub”), EVgo Holdings, EVgo Holdco and EVgo OpCo, LLC (“EVgo OpCo” and together with EVgo Holdings and EVgo Holdco, the “EVgo Parties”) pursuant to the business combination agreement dated January 21, 2021 (the “Business Combination Agreement”). Following the CRIS Close Date, the combined company is organized in an “Up-C” structure in which the business of EVgo Holdco and its subsidiaries are held by EVgo OpCo and continue to operate through the subsidiaries of EVgo Holdco and in which the Company’s only direct assets consist of equity interests in Thunder Sub, which, in turn, holds only common units in EVgo OpCo (“EVgo OpCo Units”).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 10pt 0pt;">On May 22, 2023, in connection with an underwritten equity offering, EVgo Member Holdings, LLC, an affiliate of EVgo Holdings, the Company’s controlling stockholder, purchased 5,882,352 shares of the Company’s Class A common stock at the equity offering price of $4.25 per share.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 10pt 0pt;">As the sole managing member of EVgo OpCo, Thunder Sub operates and controls all of the business and affairs of EVgo OpCo and through EVgo OpCo and its subsidiaries, conducts its business. Accordingly, the Company consolidates the financial results of EVgo OpCo and records a redeemable noncontrolling interest in its consolidated financial statements to reflect the EVgo OpCo Units that are owned by EVgo Holdings. As of December 31, 2023 and 2022, EVgo Holdings held 195,800,000 EVgo OpCo Units, representing 65.4% and 73.6%, respectively, of the total outstanding EVgo OpCo Units and an equal number of shares of the Company’s Class B common stock. As of December 31, 2023, the shares of the Company’s Class B common stock held by EVgo Holdings and the shares of the Company’s Class A common stock held by EVgo Member Holdings, LLC, collectively represented a 67.4% voting interest in the Company. EVgo Holdings did not hold any shares of the Company’s Class A common stock as of December 31, 2022.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">Each EVgo OpCo Unit, together with one share of Class B common stock, is redeemable, subject to certain conditions, for either one share of Class A common stock, or, at EVgo OpCo’s election, the cash equivalent to the market value of one share of Class A common stock, pursuant to the Amended and Restated LLC Agreement of EVgo OpCo dated July 1, 2021 (the “EVgo OpCo A&amp;R LLC Agreement”).</p>
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;text-align:justify;margin:0pt 0pt 12pt 0pt;"><span style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Use of Estimates</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 10pt 0pt;">The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The preparation of EVgo’s consolidated financial statements requires the Company to make judgments, estimates and assumptions that affect the reported amounts of assets, liabilities, income and expenses and related disclosures of contingent assets and liabilities. Significant estimates made by management include, but are not limited to, variable consideration estimates for revenue, depreciable lives of property and equipment and intangible assets, costs associated with asset retirement obligations, the and the fair value of share-based compensation, earnout liability and warrant liabilities. Management bases these estimates on its historical experience and various other assumptions that it believes to be reasonable under the circumstances. Actual results experienced may vary materially and adversely from EVgo’s estimates. Revisions to estimates are recognized prospectively.</p>
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;text-align:justify;margin:0pt 0pt 12pt 0pt;"><span style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Concentration of Business and Credit Risk</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The Company maintains its cash accounts in commercial banks. Cash balances held in a commercial bank are secured by the Federal Deposit Insurance Corporation up to $250,000. At times, a portion of deposit balances may be in excess of federal insurance limits. The Company has not experienced any losses on such accounts. The Company mitigates its risk with respect to cash by maintaining its deposits at high-quality financial institutions and monitoring the credit ratings of those institutions.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The Company had two customers that collectively comprised 45.7% of the Company’s total net accounts receivable as of December 31, 2023. The Company had one customer that comprised 20.5% of the Company’s total net accounts receivable as of December 31, 2022. For the year ended December 31, 2023, one customer represented 45.2% of total revenue. For the year ended December 31, 2022, two customers collectively represented 42.9% of total revenue.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 0pt;"><span style="font-style:normal;font-weight:normal;">For the year ended </span><span style="font-style:normal;font-weight:normal;">December 31, 2023</span><span style="font-style:normal;font-weight:normal;">, </span><span style="font-style:normal;font-weight:normal;">one</span><span style="font-style:normal;font-weight:normal;"> vendor provided </span><span style="font-style:normal;font-weight:normal;">76.9%</span><span style="font-style:normal;font-weight:normal;"> of EVgo’s total charging equipment. For the year ended December 31, 2022, </span><span style="font-style:normal;font-weight:normal;">four</span><span style="font-style:normal;font-weight:normal;"> vendors collectively provided </span><span style="font-style:normal;font-weight:normal;">88.8%</span><span style="font-style:normal;font-weight:normal;"> of EVgo’s total charging equipment.</span><span style="font-style:normal;font-weight:normal;"> </span></p>
CY2023Q4 us-gaap Cash Fdic Insured Amount
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250000
CY2023 us-gaap Prior Period Reclassification Adjustment Description
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;text-align:justify;margin:0pt 0pt 12pt 0pt;"><span style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Reclassifications</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The Company has made certain reclassifications to prior period amounts to conform to the current period presentation.</p>
CY2023Q4 us-gaap Nontrade Receivables Current
NontradeReceivablesCurrent
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CY2022Q4 us-gaap Nontrade Receivables Current
NontradeReceivablesCurrent
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CY2023 evgo Impairment Of Intangible Assets Including Goodwill
ImpairmentOfIntangibleAssetsIncludingGoodwill
0
CY2023 us-gaap Derivatives Methods Of Accounting Nonhedging Derivatives
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;text-align:justify;margin:0pt 0pt 12pt 0pt;"><span style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Warrant Liabilities</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt;">The Company accounts for its issued and outstanding warrants (as described in Note 13) in accordance with the guidance contained in ASC 815, under which the warrants do not meet the criteria for equity treatment and must be recorded as liabilities. Accordingly, the Company classifies the warrants as liabilities at their fair value and adjusts the warrants to fair value at the end of each reporting period. This liability is subject to re-measurement at each balance sheet date until exercised or redeemed by the Company and any change in fair value is recognized in the statements of operations. The fair value of the Private Placement Warrants on the date of issuance and on each measurement date is estimated by reference to the trading price of the public warrants, which is considered a Level 2 (defined below) fair value measurement, or using a Monte Carlo simulation methodology, which is considered a Level 3 (defined below) fair value measurement and includes inputs such as EVgo’s stock price, the risk-free interest rate, the expected term, the expected volatility, the dividend rate, the exercise price and the number of Private Placement Warrants outstanding. Assumptions used in the Monte Carlo model are subjective and require significant judgment and actual results can differ from assumed and estimated amounts.</p>
CY2023 us-gaap Revenue Practical Expedient Incremental Cost Of Obtaining Contract
RevenuePracticalExpedientIncrementalCostOfObtainingContract
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CY2023 us-gaap Advertising Expense
AdvertisingExpense
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CY2022 us-gaap Advertising Expense
AdvertisingExpense
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CY2023 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
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CY2022 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
4800000
CY2023 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
300000
CY2022 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
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CY2022Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
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CY2023 evgo Contract With Customer Liability Increase Decrease For Customer Activity Associated With Each Product Offerings Including Receipt Of Cash Payments And Satisfaction Of Performance Obligations
ContractWithCustomerLiabilityIncreaseDecreaseForCustomerActivityAssociatedWithEachProductOfferingsIncludingReceiptOfCashPaymentsAndSatisfactionOfPerformanceObligations
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CY2023 evgo Percentage Of Change In Contract Liabilities
PercentageOfChangeInContractLiabilities
0.51
CY2022 us-gaap Short Term Lease Cost
ShortTermLeaseCost
107000
CY2023 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2023Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
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CY2022Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
2861000
CY2023 evgo Contract With Customer Asset Increase Decrease For Amounts Invoiced Offset By Revenue Recognized From Performance Obligations Satisfied
ContractWithCustomerAssetIncreaseDecreaseForAmountsInvoicedOffsetByRevenueRecognizedFromPerformanceObligationsSatisfied
-1670000
CY2023 evgo Percentage Of Change In Contract Assets
PercentageOfChangeInContractAssets
-0.58
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
87440000
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
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CY2023 evgo Contract With Customer Liability Increase Decrease For Customer Activity Associated With Each Product Offerings Including Receipt Of Cash Payments And Satisfaction Of Performance Obligations
ContractWithCustomerLiabilityIncreaseDecreaseForCustomerActivityAssociatedWithEachProductOfferingsIncludingReceiptOfCashPaymentsAndSatisfactionOfPerformanceObligations
29650000
CY2023 evgo Percentage Of Change In Contract Liabilities
PercentageOfChangeInContractLiabilities
0.51
CY2023Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
1200000
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
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CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
57800000
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
57790000
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
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CY2023 evgo Contract With Customer Liability Increase For Contract Liability
ContractWithCustomerLiabilityIncreaseForContractLiability
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CY2022 evgo Contract With Customer Liability Increase For Contract Liability
ContractWithCustomerLiabilityIncreaseForContractLiability
26397000
CY2023 evgo Contract With Customer Liability Revenue Recognized Including Opening Balance
ContractWithCustomerLiabilityRevenueRecognizedIncludingOpeningBalance
90551000
CY2022 evgo Contract With Customer Liability Revenue Recognized Including Opening Balance
ContractWithCustomerLiabilityRevenueRecognizedIncludingOpeningBalance
5796000
CY2023 evgo Contract With Customer Liability Marketing Activities
ContractWithCustomerLiabilityMarketingActivities
413000
CY2022 evgo Contract With Customer Liability Marketing Activities
ContractWithCustomerLiabilityMarketingActivities
1256000
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
87440000
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
57790000
CY2023 evgo Contract With Customer Amounts Included In Beginning Of Period Contract Liabilities Balance
ContractWithCustomerAmountsIncludedInBeginningOfPeriodContractLiabilitiesBalance
22434000
CY2022 evgo Contract With Customer Amounts Included In Beginning Of Period Contract Liabilities Balance
ContractWithCustomerAmountsIncludedInBeginningOfPeriodContractLiabilitiesBalance
4605000
CY2023 us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
141000
CY2022 us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
5000
CY2023Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
22705000
CY2023Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
14353000
CY2023Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
23968000
CY2023Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
61026000
CY2023Q4 us-gaap Deferred Revenue
DeferredRevenue
17200000
CY2022Q4 us-gaap Deferred Revenue
DeferredRevenue
8700000
CY2023 us-gaap Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
true
CY2023 us-gaap Short Term Lease Cost
ShortTermLeaseCost
69000
CY2023 us-gaap Lease Cost
LeaseCost
13268000
CY2022 us-gaap Lease Cost
LeaseCost
7557000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
12124000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
11550000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
11131000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
10552000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
10263000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
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CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
35927000
CY2023Q4 us-gaap Operating Lease Liability
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CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
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CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
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CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
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CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
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CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
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CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
33457000
CY2023 evgo Sale And Leaseback Transaction Number Of Parcels Of Real Estate Sold
SaleAndLeasebackTransactionNumberOfParcelsOfRealEstateSold
3
CY2023Q4 evgo Sale Leaseback Transaction Proceed Including Legal Fees
SaleLeasebackTransactionProceedIncludingLegalFees
16500000
CY2023 us-gaap Sale Leaseback Transaction Net Proceeds Investing Activities
SaleLeasebackTransactionNetProceedsInvestingActivities
14600000
CY2023 us-gaap Sale And Leaseback Transaction Gain Loss Net
SaleAndLeasebackTransactionGainLossNet
-600000
CY2023 evgo Sale And Leaseback Transaction Number Of Parcels Of Real Estate Sold
SaleAndLeasebackTransactionNumberOfParcelsOfRealEstateSold
3
CY2023 us-gaap Sale Leaseback Transaction Lease Term
SaleLeasebackTransactionLeaseTerm
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CY2023 evgo Sale And Leaseback Number Of Renewal Options
SaleAndLeasebackNumberOfRenewalOptions
6
CY2023 us-gaap Lessor Operating Lease Existence Of Option To Extend
LessorOperatingLeaseExistenceOfOptionToExtend
true
CY2023 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
2444000
CY2022 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
810000
CY2023 us-gaap Sublease Income
SubleaseIncome
1225000
CY2022 us-gaap Sublease Income
SubleaseIncome
384000
CY2023 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
3669000
CY2022 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
1194000
CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
1969000
CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
1330000
CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
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