EVgo Inc-A 2025年季度报告

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 EVgo Inc. (Exact name of registrant as specified in its charter) Indicate by check mark whether the registrant (1)hasfiled all reports required to befiled by Secon13 or 15(d)of the SecuriesExchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant was required tofile suchreports), and (2)has been subject to suchfiling requirements for the past 90days.Yes☒No☐ Indicate by check mark whether the registrant has submied electronically every Interacve Data File required to be submiedpursuant to Rule405 of RegulaonS-T (§232.405 of this chapter) during the preceding 12months (or for such shorter period thatthe registrant was required to submit suchfiles).Yes☒No☐ Indicate by check mark whether the registrant is a large acceleratedfiler, an acceleratedfiler, a non-acceleratedfiler, a smallerreporng company, or an emerging growth company. See the definions of “large acceleratedfiler,” “acceleratedfiler,” “smallerreporng company,” and “emerging growth company,” in Rule 12b-2 of the Exchange Act. Largeacceleratedfiler☐Acceleratedfiler☒Non-acceleratedfiler☐Smallerreporngcompany☒Emerginggrowthcompany☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transion period forcomplying with any new or revisedfinancial accounng standards provided pursuant to Secon13(a)of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act). Yes☐No☒ Securies registered pursuant to Secon12(b)of the Act: As of April 29, 2025, the Registrant had134,168,227shares of Class A common stock and172,800,000sharesof Class Bcommon stockoutstanding. TABLE OF CONTENTS Frequently Used Terms4 Cauonary Statement Regarding Forward-Looking Statements6 Available Informaon8 PART I. FINANCIAL INFORMATION Condensed Consolidated Statements of Operaons for the Three Months EndedMarch 31, 2025 and 2024 (unaudited)11 Condensed Consolidated Statements of Stockholders’ Deficit for the ThreeMonths Ended March 31, 2025 and 2024 (unaudited)12 Condensed Consolidated Statements of Cash Flows for the Three Months EndedMarch 31, 2025 and 2024 (unaudited)14 Item2.Management’s Discussion and Analysis of Financial Condion and Results ofOperaons36 Item3.Quantave and Qualitave Disclosures About Market Risk55 PARTII. OTHER INFORMATION Item1.Legal Proceedings57Item1A.Risk Factors57Item2.Unregistered Sales of Equity Securies and Use of Proceeds57Signatures59Item3.Defaults Upon Senior Securies57Item4.Mine Safety Disclosures57Item5.Other Informaon57Item6.Exhibits58 FREQUENTLY USED TERMS Unless expressly indicated or the context indicates otherwise, the terms “EVgo,” “the Company,”“we,” “us,” and “our” in this Quarterly Report refer to EVgo Inc., a Delaware corporaon, and whereappropriate, its subsidiaries. We have also used several other terms in this Quarterly Report, thecondensed consolidatedfinancial statements and accompanying notes included herein, many ofwhich are defined below and certain of which are defined throughout this Quarterly Report, and,unless expressly indicated or the context indicates otherwise, have the following meanings whenused in this Quarterly Report: “Annual Report“ means our Annual Report on Form 10-K for the year ended December 31, 2024. “ASC” means Accounng Standards Codificaon. “ASC 606” means FASB ASC Topic 606, Revenue from Contracts with Customers. “ATM Program” means the program by which the Company may sell up to $200 million of shares ofClass A common stock in “at the market” transacons at prevailing market prices. “Availability Period” means, with respect to the DOE Loan, the period beginning on the date allcondions precedent set forth in the Guarantee Agreement are met or waived and ending on theearliest of (i) thefih anniversary of thefirst Advance, (ii) August 31, 2031 and (iii) the date of anyterminaon of obligaons under the Guarantee Agreement following an event of default. “Borrower” means EVgo SwiBorrower LLC, a Delaware limited liability company and subsidiary ofthe Company. “Business Combinaon Agreement” means that business combinaon agreement entered into onJanuary 21, 2021 by and among CRIS, Thunder Sub, EVgo OpCo, EVgo Holdco and EVgo Holdings. “Class A common stock” means Class A common stock of EVgo Inc., par value $0.0001 per share. “Class B common stock” means Class B common stock of EVgo Inc., par value $0.0001 per share. “common stock” means Class A common stock and Class B common stock. “Company Group” means EVgo Inc., Thunder Sub or any of their subsidiaries (other than EVgo OpCoand its subsidiaries). “CRIS“ means Climate Change Crisis Real Impact I Acquision Corporaon. “CRIS Business Combinaon” means the transacons contemplated by the Business CombinaonAgreement. “CRIS Close Date” means the closing of the CRIS Business Combina