# EVgo Inc. (EVGO) Informational only - not investment advice. CIK: 0001821159 SIC: 7500 Services-Automotive Repair, Services & Parking SIC breadcrumb: [Services](/division/I/) > [SIC Major Group 75](/major-group/75/) > [SIC 7500 Services-Automotive Repair, Services & Parking](/industry/7500/) Latest 10-K filed: 2026-03-09 SEC page: https://www.sec.gov/edgar/browse/?CIK=1821159 Filing source: https://www.sec.gov/Archives/edgar/data/1821159/000110465926024827/evgo-20251231x10k.htm ## At a glance FY2025 · period end 2025-12-31 · filed 2026-03-09 · accession 0001104659-26-024827 · source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001821159.json | Metric | Value | FY | Provenance | | --- | ---: | ---: | --- | | Revenue | 384,086,000 USD | 2025 | verified | | Net income | -41,574,000 USD | 2025 | verified | | Assets | 964,830,000 USD | 2025 | verified | | Free cash flow | -124,435,000 USD | 2025 | computed | | Net margin | -10.82% | 2025 | computed | | Operating margin | -28.81% | 2025 | computed | | Revenue YoY | +49.55% | 2025 | computed | Stockholders' equity was not positive at FY2025 year-end (-116,904,000 USD, as filed); ROE and liabilities / equity are omitted rather than computed. Computed values are grepcent-computed from the verified facts above and may differ from ratios the company itself reports. Free cash flow = operating cash flow − capital expenditures. Net margin = net income ÷ revenue. Operating margin = operating income ÷ revenue. Revenue YoY = FY2025 revenue ÷ FY2024 revenue − 1 (consecutive fiscal years only). No market price, no rating, no forecast on this site. Not investment advice. ## Selected Fundamentals | Metric | Value | Unit | FY | Filed | | --- | ---: | --- | ---: | --- | | Revenue | 384086000 | USD | 2025 | 2026-03-09 | | Net income | -41574000 | USD | 2025 | 2026-03-09 | | Assets | 964830000 | USD | 2025 | 2026-03-09 | ## Financials Annual standardized facts from SEC companyfacts as of latest extracted filing date 2026-03-09. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001821159.json. Derived margins, ratios, and free cash flow are computed from the extracted annual SEC facts. | Metric | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | | Revenue | | | | 54,588,000 | 160,953,000 | 256,825,000 | 384,086,000 | | Net income | | | -5,906,000 | -27,575,000 | -42,427,000 | -44,334,000 | -41,574,000 | | Operating income | | -58,437,000 | -89,831,000 | -149,503,000 | -153,407,000 | -131,570,000 | -110,663,000 | | Gross profit | | -9,598,000 | -6,830,000 | -5,651,000 | 9,714,000 | 29,367,000 | 80,777,000 | | Diluted EPS | | | -0.09 | -0.40 | -0.46 | -0.41 | -0.31 | | Operating cash flow | | -20,077,000 | -29,603,000 | -58,794,000 | -37,055,000 | -7,256,000 | -7,728,000 | | Capital expenditures | | 19,344,000 | 65,003,000 | 200,251,000 | 158,896,000 | 94,787,000 | 116,707,000 | | Assets | | 182,141,000 | | 729,724,000 | 806,614,000 | 803,761,000 | 964,830,000 | | Liabilities | | 92,654,000 | | 212,598,000 | 266,239,000 | 360,030,000 | 578,886,000 | | Stockholders' equity | 14,393,000 | 89,487,000 | | -358,100,000 | -160,589,000 | -256,109,000 | -116,904,000 | | Cash and cash equivalents | | | | 245,721,000 | 208,674,000 | 117,273,000 | 151,000,000 | | Free cash flow | | -39,421,000 | -94,606,000 | -259,045,000 | -195,951,000 | -102,043,000 | -124,435,000 | ### Ratios ROE and ROA use period-end equity/assets. Liabilities / equity uses total liabilities divided by stockholders' equity. Current ratio uses current assets divided by current liabilities when both are reported. | Metric | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | | Net margin | | | | -50.51% | -26.36% | -17.26% | -10.82% | | Operating margin | | | | | -95.31% | -51.23% | -28.81% | | Return on assets | | | | -3.78% | -5.26% | -5.52% | -4.31% | | Current ratio | | 0.31 | 10.80 | 3.15 | 2.99 | 1.84 | 2.19 | ## As-reported value updates 3 tracked differences above grepcent's stated thresholds were found between the earliest XBRL-filed value and the value currently on file for the same fiscal period. Ledger: /company/EVGO/revisions/ ## Quarterly Quarterly standardized facts from SEC companyfacts as of latest extracted filing date 2026-08-06. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001821159.json. Flow metrics use discrete quarter-length periods from 10-Q/10-Q/A filings. Q4 revenue and net income are derived only when annual FY and nine-month YTD facts exist for the same fiscal year; derived Q4 values are labeled. EPS Q4 is not derived. | Quarter | End date | Revenue | Net income | Diluted EPS | Method | | --- | --- | ---: | ---: | ---: | --- | | 2022-Q3 | 2022-09-30 | | | -0.19 | reported discrete quarter | | 2023-Q1 | 2023-03-31 | | | -0.18 | reported discrete quarter | | 2023-Q2 | 2023-06-30 | | | -0.08 | reported discrete quarter | | 2023-Q3 | 2023-09-30 | 35,107,000 | -28,257,000 | -0.09 | reported discrete quarter | | 2023-Q4 | 2023-12-31 | 49,994,000 | -36,589,000 | | derived Q4 = FY annual - nine-month YTD | | 2024-Q1 | 2024-03-31 | 55,158,000 | -28,193,000 | -0.09 | reported discrete quarter | | 2024-Q2 | 2024-06-30 | 66,619,000 | -29,610,000 | -0.10 | reported discrete quarter | | 2024-Q3 | 2024-09-30 | 67,535,000 | -33,290,000 | -0.11 | reported discrete quarter | | 2024-Q4 | 2024-12-31 | 67,513,000 | -35,608,000 | | derived Q4 = FY annual - nine-month YTD | | 2025-Q1 | 2025-03-31 | 75,287,000 | -26,227,000 | -0.09 | reported discrete quarter | | 2025-Q2 | 2025-06-30 | 98,030,000 | -29,821,000 | -0.10 | reported discrete quarter | | 2025-Q3 | 2025-09-30 | 92,299,000 | -28,356,000 | -0.09 | reported discrete quarter | | 2025-Q4 | 2025-12-31 | 118,470,000 | -11,034,000 | | derived Q4 = FY annual - nine-month YTD | | 2026-Q1 | 2026-03-31 | 109,531,000 | -36,980,000 | -0.12 | reported discrete quarter | | 2026-Q2 | 2026-06-30 | 82,648,000 | -46,342,000 | -0.15 | reported discrete quarter | ## Filed narrative (10-K & 10-Q) ## Business Verbatim Item 1 Business section from EVGO's latest 10-K: [/company/EVGO/business/](/company/EVGO/business/). ## Risk Factors Verbatim Item 1A Risk Factors from EVGO's latest 10-K: [/company/EVGO/risk-factors/](/company/EVGO/risk-factors/). ## Latest quarter (10-Q) Latest 10-Q source: https://www.sec.gov/Archives/edgar/data/1821159/000182115926000019/evgo-20260630.htm Extracted structurally from real Item 2 body heading to real Item 3/4 boundary. Published MD&A gate trimmed front/tail over-capture. Confidence: high Filing date: 2026-08-06 Report date: 2026-06-30 Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations The following discussion and analysis provide information that we believe is relevant to an assessment and understanding of our consolidated results of operations and financial condition. The discussion should be read in conjunction with our unaudited condensed consolidated financial statements and the related notes thereto as of June 30, 2026 and December 31, 2025 and for the three and six months ended June 30, 2026 and 2025 included elsewhere in this Quarterly Report and the audited consolidated financial statements and related notes thereto as of and for the years ended December 31, 2025 and 2024 contained in the Annual Report. In addition to historical information, this discussion contains forward-looking statements that involve numerous risks, uncertainties, and assumptions that could cause our actual results to differ materially from our expectations due to a number of factors, including those discussed in the sections entitled “Risk Factors” and “Cautionary Statement Regarding Forward-Looking Statements” in this Quarterly Report. Overview We are one of the nation’s leading public EV fast charging providers. With more than 1,200 fast charging stations across over 47 states, we strategically deploy localized and accessible charging infrastructure by partnering with leading businesses across the U.S., including retailers, grocery stores, restaurants, shopping centers, gas stations, rideshare operators and autonomous vehicle companies. At our Innovation Lab, we perform extensive interoperability testing and have ongoing technical collaborations with leading automakers and industry partners to advance the EV charging industry and deliver a seamless charging experience. The foundation of our business is building, owning and operating EV fast charging sites that deliver charging to EVs driven by individuals, commercial drivers, and fleet operators. Our core revenue stream is from the provision of charging services for EVs of all types on our network. In addition, a variety of business-to-business commercial relationships provide us with revenue or cash payments based on commitments to build new infrastructure, provide guaranteed access to charging, and provide marketing, data and software-driven services. We also earn revenue from the sale of regulatory credits generated through sales of electricity and our operation and ownership of our DCFC network. We believe this combination of revenue streams can drive long-term margin expansion and customer retention. Specifically, charging network revenue is earned through the following streams: •Charging Revenue, Retail: We sell electricity directly to drivers who access our publicly available networked chargers. Various pricing plans exist for customers and drivers have the choice to charge through a subscription offering or a variety of pay-as-you-go plans. Drivers locate the chargers through our mobile application, their vehicle’s in-dash navigation system, or third-party databases, such as PlugShare, that license charger-location information from us. Our chargers are generally installed in parking spaces owned or leased by commercial or public-entity Site Hosts that desire to provide charging services at their respective locations. Commercial Site Hosts include retail and grocery stores, offices, medical complexes, airports and convenience stores. Our offerings are well aligned with the goals of Site Hosts, as many commercial businesses view charging capabilities as essential to attracting tenants, employees, customers and visitors, and achieving sustainability goals. Site Hosts are generally able to obtain these benefits at no cost when partnering with us through our owner and/or operator model, in which we are responsible for the development, construction, and operation of chargers located on Site Hosts’ properties. In many cases, Site Hosts will earn revenue from license payments in the form of parking space rental fees that we pay in exchange for use of the site. •Charging Revenue, Commercial: High volume fleet customers, such as transportation networking companies or delivery services and rideshare, can access our charging infrastructure through our vast public network. Pricing for charging services is most often negotiated directly with the fleet owner based on the business needs and usage patterns of the fleet. In these arrangements, we contract with and bill either the fleet owner directly or an individual fleet driver utilizing our chargers. •Charging Revenue, OEM: We offer OEM charging programs with revenue models to meet a wide variety of OEM objectives related to the availability of charging infrastructure and the provision of charging services for EV drivers. We contract directly with OEMs to provide charging services to drivers who have purchased or leased such OEMs’ EVs and who access our public charger network. Other related services currently provided to OEMs by us include co-marketing, data services and digital application services. Our OEM relationships are a core customer-acquisition channel. 43 Table of Contents •Regulatory Credit Sales: As a charging station owner and operator, we earn regulatory credits, such as LCFS credits and other regulatory credits, in states where such programs are enacted currently, including the Fast Charging Infrastructure program in California. These credits are generated through charging station operations based on the volume of kWh sold. We earn additional revenue through the sale of these credits to buyers obligated to purchase the credits to comply with the program mandates. •Network Revenue, OEM: This revenue stream represents revenue related to contracts that have significant charger infrastructure build programs, which represent set-up costs under ASC 606. Proceeds from these contracts are allocated to performance obligations including branding, memberships, reservations and the expiration of unused charging credits. Revenues from branding are recognized over time as the services are performed and measurement is recognized straight-line over the performance period. For memberships and reservations, revenue is recognized over time and measured over the period on a straight-line basis as performance obligations are met. Any unused charging credits are recognized as breakage using the proportional method or, for programs where there is not enough information to determine the pattern of rights exercised by the customer, the remote method. We generate non-charging network revenue from the following streams: •eXtend Revenue: Through EVgo eXtend, we provide hardware, design, and construction services for charging sites, as well as ongoing operations, maintenance and networking and software integration solutions, while customers purchase and retain ownership of the charging assets. Existing customers with EVgo accounts are able to access eXtend chargers through our mobile app, among other options. For some EVgo eXtend customers, we also provide grant application support and related services. •AV and ancillary Revenue: In addition to offering access to our public network, we offer dedicated charging solutions to autonomous vehicle and other fleets. Through our fleet offerings, we develop, build, and service charging assets for fleets, including through off-site charging hubs that we have secured without requiring a fleet to directly incur capital expenditures. We offer a variety of pricing models for dedicated charging solutions, including a mix of volumetric commitments and variable and fixed payments for provision of charging services. We enter into operating and sales-type leases with our dedicated fleet customers. We also offer a variety of software-driven digital, development and operations services to customers. These offerings currently include customization of digital applications, charging data integration, access to chargers behind parking lot or garage pay gates, microtargeted advertising and charging reservations as well as all services provided under PlugShare such as data, research and advertising services. Key Components of Results of Operations Revenue Our revenue is generated across various business lines. The majority of our revenue is generated from the sale of charging services, which are comprised of retail, commercial and OEM business lines, and our eXtend offering. In addition, we generate AV and ancillary revenue through services provided to dedicated fleets, which includes both operating and sales-type lease structures, the sale of data services and consumer retail services. We also offer network services to OEM customers, including branding and memberships. Finally, as a result of owning and operating the EV charging stations, we earn regulatory credits such as LCFS credits, which are sold to generate additional revenue. Cost of Sales Charging Network. Charging network cost of sales consists primarily of energy usage fees, site operating and maintenance expenses, network charges, warranty and repair services, and site lease and related expenses associated with the EVgo Public Network. Other. Other cost of sales is primarily related to costs associated with the eXtend and dedicated charging businesses, the sale of data services, and other ancillary services. Depreciation, Net of Capital-Build Amortization. Depreciation, net of capital-build amortization, consists of depreciation related to property and equipment associated with charging equipment and installation and is partially offset by the amortization of capital-build liabilities associated with third-party funding received for charging stations and other programs. 44 Table of Contents Gross Profit (Loss) and Gross Margin Gross profit (loss) consists of our revenue less our total cost of sales. Gross margin is gross profit (loss) as a percentage of revenue. Operating Expenses General and Administrative. General and administrative expenses primarily consist of payroll and related personnel expenses, IT and office services, customer service, office rent expense and professional services. We expect our general and administrative expenses to increase in absolute dollars as we continue to grow our business. We also expect to continue to incur additional expenses related to compliance and reporting obligations pursuant to the rules and regulations of the SEC and debt agreements, general insurance and directors’ and officers’ insurance, investor relations and other professional services. Depreciation, Amortization and Accretion. Depreciation, amortization and accretion consists of depreciation related to property, equipment and software not associated with charging equipment and, therefore, not included in the depreciation, net of capital-build amortization expenses recorded in cost of sales. This also includes amortization of intangible assets and accretion related to our asset retirement obligations. Operating Profit (Loss) and Operating Margin Operating profit (loss) consists of our gross profit (loss) less total operating expenses. Operating margin is operating profit (loss) as a percentage of revenue. Interest Expense Interest expense consists of interest expense from the amortization of deferred debt issuance costs and interest expense incurred on long-term debt, and is presented net of amounts capitalized to property and equipment. Interest Income Interest income consists primarily of interest earned on cash, cash equivalents and restricted cash. Change in Fair Values of Warrant and Earnout Liabilities The change in the fair values of the warrant and earnout liabilities reflects the mark-to-market adjustments associated with Warrants to purchase shares of our common stock and earnout liabilities for each reporting period. Income Taxes Our provision for income taxes consists primarily of income taxes related to federal and state jurisdictions where business is conducte [Excerpt truncated for page length; source filing is linked above.] ## Latest 10-K MD&A (excerpt) Latest 10-K Item 7 source: https://www.sec.gov/Archives/edgar/data/1821159/000110465926024827/evgo-20251231x10k.htm Complete FY 2025 MD&A: /company/EVGO/mda/fy2025/ Extracted structurally from real Item 7 body heading to real Item 7A/8 boundary. Confidence: high Filing date: 2026-03-09 Report date: 2025-12-31 Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations. The following discussion and analysis provides information that management believes is relevant to an assessment and understanding of our consolidated results of operations and financial condition. The discussion should be read in conjunction with our consolidated financial statements and the related notes thereto as of and for the years ended December 31, 2025 and 2024, included elsewhere in this Annual Report. In addition to historical information, this discussion contains forward-looking statements that involve numerous risks, uncertainties and assumptions that could cause our actual results to differ materially from management’s expectations due to a number of factors, including those discussed in the sections entitled “Risk Factors” and “Cautionary Statement Regarding Forward-Looking Statements” in this Annual Report. Overview We are one of the nation’s leading public EV fast charging providers. With more than 1,200 fast charging stations across 47 states, we strategically deploy localized and accessible charging infrastructure by partnering with leading businesses across the U.S., including retailers, grocery stores, restaurants, shopping centers, gas stations, rideshare operators and autonomous vehicle companies. At our Innovation Lab, we perform extensive interoperability testing and have ongoing technical collaborations with leading automakers and industry partners to advance the EV charging industry and deliver a seamless charging experience. The foundation of our business is building, owning and operating EV fast charging sites that deliver charging to EVs driven by individuals, commercial drivers, and fleet operators. Our core revenue stream is from the provision of charging services for EVs of all types on our network. In addition, a variety of business-to-business commercial relationships provide us with revenue or cash payments based on commitments to build new infrastructure, provide guaranteed access to charging, and provide marketing, data and software-driven services. We also earn revenue from the sale of regulatory credits generated through sales of electricity and our operation and ownership of our DCFC network. We believe this combination of revenue streams can drive long-term margin expansion and customer retention. Specifically, charging network revenue is earned through the following streams: [[GREPCENT_TABLE]] [["","\u25cf","Charging Revenue, Retail: We sell electricity directly to drivers who access our publicly available networked chargers. Various pricing plans exist for customers and drivers have the choice to charge through a subscription offering or a variety of pay-as-you-go plans. Drivers locate the chargers through our mobile application, their vehicle\u2019s in-dash navigation system, or third-party databases, such as PlugShare, that license charger-location information from us. Our chargers are generally installed in parking spaces owned or leased by commercial or public-entity Site Hosts that desire to provide charging services at their respective locations. Commercial Site Hosts include retail and grocery stores, offices, medical complexes, airports and convenience stores. Our offerings are well aligned with the goals of Site Hosts, as many commercial businesses increasingly view charging capabilities as essential to attracting tenants, employees, customers and visitors and achieving sustainability goals. Site Hosts are generally able to obtain these benefits at no cost when partnering with us through our owner and/or operator model, in which we are responsible for the development, construction, and operation of chargers located on Site Hosts\u2019 properties. In many cases, Site Hosts will earn revenue from license payments in the form of parking space rental fees that we pay in exchange for use of the site."]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","Charging Revenue, Commercial: High volume fleet customers, such as TNCs or delivery services and rideshare, can access our charging infrastructure through our vast public network. Pricing for charging services is most often negotiated directly with the fleet owner based on the business needs and usage patterns of the fleet. In these arrangements, we contract with and bill either the fleet owner directly or an individual fleet driver utilizing our chargers."]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","Charging Revenue, OEM: We offer OEM charging programs with revenue models to meet a wide variety of OEM objectives related to the availability of charging infrastructure and the provision of charging services for EV drivers. We contract directly with OEMs to provide charging services to drivers who have purchased or leased such OEMs\u2019 EVs and who access our public charger network. Other related services currently provided to OEMs"]] [[/GREPCENT_TABLE]] 72 Table of Contents [[GREPCENT_TABLE]] [["","","by us include co-marketing, data services and digital application services. Our OEM relationships are a core customer-acquisition channel."]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","Regulatory Credit Sales: As a charging station owner and operator, we earn regulatory credits, such as LCFS credits and other regulatory credits, in states where such programs are enacted currently, including the Fast Charging Infrastructure program in California. These credits are generated through charging station operations based on the volume of kWh sold. We earn additional revenue through the sale of these credits to buyers obligated to purchase the credits to comply with the program mandates."]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","Network Revenue, OEM: This revenue stream represents revenue related to contracts that have significant charger infrastructure build programs, which represent set-up costs under ASC 606. Proceeds from these contracts are allocated to performance obligations including branding, memberships, reservations and the expiration of unused charging credits. Revenues from branding are recognized over time as the services are performed and measurement is recognized straightline over the performance period. For memberships and reservations, revenue is recognized over time and measured over the period on a straightline basis as performance obligations are met. Any unused charging credits are recognized as breakage using the proportional method or, for programs where there is not enough information to determine the pattern of rights exercised by the customer, the remote method."]] [[/GREPCENT_TABLE]] We generate non-charging network revenue from the following streams: [[GREPCENT_TABLE]] [["","\u25cf","eXtend Revenue: Through EVgo eXtend, we provide hardware, design, and construction services for charging sites, as well as ongoing operations, maintenance and networking and software integration solutions, while customers purchase and retain ownership of the charging assets. Existing customers with EVgo accounts are able to access eXtend chargers through our mobile app, among other options. We also provide grant application support and related services to our eXtend customers."]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","Ancillary Revenue: In addition to offering access to the EVgo Public Network, we offer dedicated charging solutions to autonomous vehicle and other fleets. Through our dedicated fleet product, we develop, build, and service charging assets for fleets either at their own depot locations or at off-site charging hubs that we have secured. We offer a variety of pricing models for dedicated charging solutions, including a mix of volumetric commitments and variable and fixed payments for provision of charging services. We also offer a variety of software-driven digital, development and operations services to customers. These offerings currently include customization of digital applications, charging data integration, access to chargers behind parking lot or garage pay gates, microtargeted advertising and charging reservations as well as all services provided under PlugShare such as data, research and advertising services."]] [[/GREPCENT_TABLE]] Key Components of Results of Operations Revenue. Our revenue is generated across various business lines. The majority of our revenue is generated from the sale of charging services, which are comprised of retail, commercial and OEM business lines, and our eXtend offering. In addition, we generate ancillary revenue through services provided to dedicated fleets, which includes both operating and sales-type lease structures, the sale of data services and consumer retail services. We also offer network services to OEM customers, including branding and memberships. Finally, as a result of owning and operating the EV charging stations, we earn regulatory credits such as LCFS credits, which are sold to generate additional revenue. Cost of Sales. Cost of sales consists of the following components: Charging Network. Charging network cost of sales consists primarily of energy usage fees, site operating and maintenance expenses, network charges, warranty and repair services, and site lease and related expenses associated with the EVgo Public Network. Other. Other cost of sales is primarily related to costs associated with the eXtend and dedicated charging businesses, the sale of data services, and other ancillary services. 73 Table of Contents Depreciation, Net of Capital-Build Amortization. Depreciation, net of capital-build amortization, consists of depreciation related to our property and equipment associated with charging equipment and installation and is partially offset by the amortization of our capital-build liabilities associated with third-party funding received for charging stations and other programs. Gross Profit (Loss) and Gross Margin. Gross profit (loss) consists of our revenue less our total cost of sales. Gross margin is gross profit (loss) as a percentage of revenue. Operating Expenses. Operating expenses consist of the following components: General and Administrative. General and administrative expenses primarily consist of payroll and related personnel expenses, IT and office services, customer service, office rent expense and professional services. We expect our general and administrative expenses to increase in absolute dollars as we continue to grow our business. We also expect to continue to incur additional expenses related to compliance and reporting obligations pursuant to the rules and regulations of the SEC and the DOE Loan, general insurance and directors’ and officers’ insurance, investor relations and other professional services. Depreciation, Amortization and Accretion. Depreciation, amortization and accretion consists of depreciation related to our property, equipment and software not associated with charging equipment and, therefore, not included in the depreciation, net of capital-build amortization expenses recorded in cost of sales. This also includes amortization of intangible assets and accretion related to our asset retirement obligations. Operating Profit (Loss) and Operating Margin. Operating profit (loss) consists of our gross profit (loss) less total operating expenses. Operating margin is operating profit (loss) as a percentage of revenue. Interest Expense. Interest expense consists of interest expense from the amortization of deferred debt issuance costs and interest expense incurred on long-term debt, and is presented net of amounts capitalized to property and equipment. Interest Income. Interest income consists primarily of interest earned on cash, cash equivalents and restricted cash. Change in Fair Values of Warrant and Earnout Liabilities. The change in the fair values of the Warrant and earnout liabilities reflects the mark-to-market adjustments associated with Warrants to purchase shares of our common stock [Excerpt truncated for page length; the complete text is on the linked full-MD&A page.] Read the full FY 2025 MD&A: /company/EVGO/mda/fy2025/ All MD&A years: /company/EVGO/mda/ ## MD&A history Prior-year 10-K MD&A spans are extracted from SEC filings with the same bounded parser used for the latest filing. Each year's full verbatim text is on its own sub-page. - [FY 2024 MD&A](/company/EVGO/mda/fy2024/): filed 2025-03-06; accession 0001558370-25-002400 (https://www.sec.gov/Archives/edgar/data/1821159/000155837025002400/evgo-20241231x10k.htm) - [FY 2023 MD&A](/company/EVGO/mda/fy2023/): filed 2024-03-06; accession 0001558370-24-002608 (https://www.sec.gov/Archives/edgar/data/1821159/000155837024002608/evgo-20231231x10k.htm) - [FY 2022 MD&A](/company/EVGO/mda/fy2022/): filed 2023-03-30; accession 0001558370-23-005121 (https://www.sec.gov/Archives/edgar/data/1821159/000155837023005121/evgo-20221231x10k.htm) - [FY 2021 MD&A](/company/EVGO/mda/fy2021/): filed 2022-03-24; accession 0001558370-22-004199 (https://www.sec.gov/Archives/edgar/data/1821159/000155837022004199/evgo-20211231x10k.htm) ## Macro cross-references Indicators mapped to this company's SIC classification (industry 7500 Services-Automotive Repair, Services & Parking) by grepcent's deterministic macro-sector crosswalk. A navigational mapping, not a statistical or causal claim. - [PCE](/indicator/PCE/): Personal Consumption Expenditures - [GDPC1](/indicator/GDPC1/): Real Gross Domestic Product - [PAYEMS](/indicator/PAYEMS/): All Employees, Total Nonfarm - [CES0500000003](/indicator/CES0500000003/): Average Hourly Earnings of All Employees, Total Private - [UNRATE](/indicator/UNRATE/): Unemployment Rate - [DSPIC96](/indicator/DSPIC96/): Real Disposable Personal Income Macro-to-micro threads including this sector: [US labor market](/thread/us-labor-market/), [Growth & output](/thread/growth-output/), [Government finances](/thread/government-finances/), [Sector employment](/thread/sector-employment/). All macro indicators: /indicators/ ## For LLMs & downloads Markdown twin: /company/EVGO.md · JSON record: /company/EVGO.json · verified financials: /company/EVGO/financials.json / /company/EVGO/financials.csv · machine TOC for the whole site: /llms.txt