EVgo Inc. Reports Record Second Quarter 2025 Results
EVgo Inc. (Nasdaq: EVGO) reported strong Q2 2025 results, highlighted by record revenue of $98.0 million, up 47% year-over-year. The company secured a groundbreaking $225 million commercial bank loan facility, expandable to $300 million, to accelerate nationwide charging infrastructure deployment.
Key operational metrics include network throughput of 88 GWh (up 35% YoY), addition of 240 new operational stalls, and growth to 4,350 total stalls in operation. The company added over 122,000 new customer accounts, reaching 1.5 million total accounts. Financial performance showed improvement with Adjusted EBITDA of $(1.9) million, a 76% improvement year-over-year.
EVgo updated its 2025 guidance to $350-380 million in revenue and Adjusted EBITDA between $(5) million and $10 million, moving closer to its goal of achieving Adjusted EBITDA breakeven for the full year.
EVgo Inc. (Nasdaq: EVGO) ha riportato risultati solidi nel secondo trimestre del 2025, con un fatturato record di 98,0 milioni di dollari, in aumento del 47% rispetto all'anno precedente. L'azienda ha ottenuto una rivoluzionaria linea di credito commerciale bancaria da 225 milioni di dollari, espandibile fino a 300 milioni, per accelerare la diffusione dell'infrastruttura di ricarica a livello nazionale.
I principali indicatori operativi includono un throughput di rete di 88 GWh (in crescita del 35% su base annua), l'aggiunta di 240 nuove postazioni operative e un aumento a 4.350 postazioni totali in funzione. L'azienda ha acquisito oltre 122.000 nuovi clienti, raggiungendo un totale di 1,5 milioni di account. Le performance finanziarie hanno mostrato un miglioramento con un EBITDA rettificato di (1,9) milioni di dollari, un progresso del 76% su base annua.
EVgo ha aggiornato le previsioni per il 2025 a un fatturato compreso tra 350 e 380 milioni di dollari e un EBITDA rettificato tra (5) milioni e 10 milioni di dollari, avvicinandosi all'obiettivo di raggiungere il pareggio dell'EBITDA rettificato per l'intero anno.
EVgo Inc. (Nasdaq: EVGO) reportó sólidos resultados en el segundo trimestre de 2025, destacando un ingreso récord de 98.0 millones de dólares, un aumento del 47% interanual. La compañía aseguró una innovadora línea de préstamo bancario comercial de 225 millones de dólares, ampliable a 300 millones, para acelerar el despliegue de infraestructura de carga a nivel nacional.
Las métricas operativas clave incluyen un rendimiento de red de 88 GWh (un aumento del 35% interanual), la incorporación de 240 nuevos puestos operativos y un crecimiento hasta 4,350 puestos totales en operación. La empresa añadió más de 122,000 nuevas cuentas de clientes, alcanzando un total de 1.5 millones de cuentas. El desempeño financiero mostró mejoras con un EBITDA ajustado de (1.9) millones de dólares, una mejora del 76% interanual.
EVgo actualizó su guía para 2025 a ingresos entre 350 y 380 millones de dólares y un EBITDA ajustado entre (5) millones y 10 millones de dólares, acercándose a su objetivo de lograr un EBITDA ajustado equilibrado para todo el año.
EVgo Inc. (나스닥: EVGO)는 2025년 2분기 강력한 실적을 발표했으며, 전년 대비 47% 증가한 9,800만 달러의 기록적인 매출을 기록했습니다. 회사는 전국 충전 인프라 구축 가속화를 위해 확장 가능 최대 3억 달러 규모의 2억 2,500만 달러 상업 은행 대출 시설을 확보했습니다.
주요 운영 지표로는 88 GWh의 네트워크 처리량(전년 대비 35% 증가), 240개의 신규 운영 스톨 추가, 총 4,350개의 운영 중인 스톨 증가가 포함됩니다. 회사는 12만 2,000개 이상의 신규 고객 계정을 추가하여 총 150만 계정에 도달했습니다. 재무 성과는 조정 EBITDA가 (190만 달러)로 전년 대비 76% 개선되었습니다.
EVgo는 2025년 가이던스를 매출 3억 5,000만~3억 8,000만 달러 및 조정 EBITDA를 (500만 달러)에서 1,000만 달러 사이로 상향 조정했으며, 연간 조정 EBITDA 손익분기점 달성 목표에 한 걸음 더 다가섰습니다.
EVgo Inc. (Nasdaq : EVGO) a publié de solides résultats pour le deuxième trimestre 2025, avec un chiffre d'affaires record de 98,0 millions de dollars, en hausse de 47 % par rapport à l'année précédente. La société a obtenu une ligne de crédit bancaire commerciale révolutionnaire de 225 millions de dollars, extensible à 300 millions, afin d'accélérer le déploiement de l'infrastructure de recharge à l'échelle nationale.
Les indicateurs opérationnels clés incluent un débit réseau de 88 GWh (en hausse de 35 % sur un an), l'ajout de 240 nouvelles bornes opérationnelles et une croissance à 4 350 bornes totales en service. La société a ajouté plus de 122 000 nouveaux comptes clients, atteignant un total de 1,5 million de comptes. La performance financière s'est améliorée avec un EBITDA ajusté de (1,9) million de dollars, soit une amélioration de 76 % sur un an.
EVgo a mis à jour ses prévisions pour 2025 à un chiffre d'affaires compris entre 350 et 380 millions de dollars et un EBITDA ajusté compris entre (5) millions et 10 millions de dollars, se rapprochant ainsi de son objectif d'atteindre l'équilibre de l'EBITDA ajusté sur l'ensemble de l'année.
EVgo Inc. (Nasdaq: EVGO) meldete starke Ergebnisse für das zweite Quartal 2025 mit einem rekordverdächtigen Umsatz von 98,0 Millionen US-Dollar, was einem Anstieg von 47 % im Jahresvergleich entspricht. Das Unternehmen sicherte sich eine bahnbrechende gewerbliche Bankkreditfazilität über 225 Millionen US-Dollar, erweiterbar auf 300 Millionen, um den landesweiten Ausbau der Ladeinfrastruktur zu beschleunigen.
Wichtige operative Kennzahlen umfassen einen Netzwerkdurchsatz von 88 GWh (plus 35 % im Jahresvergleich), die Hinzufügung von 240 neuen Betriebsstellen und ein Wachstum auf insgesamt 4.350 Betriebsstellen. Das Unternehmen fügte über 122.000 neue Kundenkonten hinzu und erreichte insgesamt 1,5 Millionen Konten. Die finanzielle Leistung verbesserte sich mit einem bereinigten EBITDA von (1,9) Millionen US-Dollar, eine Verbesserung von 76 % im Jahresvergleich.
EVgo aktualisierte seine Prognose für 2025 auf Umsatz zwischen 350 und 380 Millionen US-Dollar und ein bereinigtes EBITDA zwischen (5) Millionen und 10 Millionen US-Dollar und rückt damit dem Ziel näher, für das Gesamtjahr ein bereinigtes EBITDA-Break-even zu erreichen.
- Secured first-of-its-kind $225M commercial bank loan facility, expandable to $300M
- Record revenue of $98.0M, up 47% year-over-year
- Network throughput increased 35% YoY to 88 GWh
- Gross profit more than doubled to $13.9M, with margin expanding 460 basis points to 14.2%
- Adjusted EBITDA improved 76% year-over-year to $(1.9M)
- Operating cash flow positive at $14.1M, up 86% YoY
- Net loss of $29.8M, slightly worse than Q2 2024
- Capital offsets decreased 13% year-over-year to $9.1M
- OEM infrastructure payments declined 68% to $1.9M
Insights
EVgo reports strong Q2 growth with record revenue, improved margins, and secured major financing to accelerate expansion.
EVgo delivered record Q2 revenue of
The company's operational metrics reflect growing network utilization. Network throughput increased
The standout development is EVgo's groundbreaking
Despite the revenue growth, EVgo still posted a net loss of
The updated 2025 guidance of
EVgo's network expansion strategy shows impressive execution with 4,350 total operational stalls, including 240 new DC fast charging stalls added this quarter. The
Most notable is the company's strategic diversification across three network types: public (3,480 stalls), dedicated fleet (110 stalls), and eXtend™ partnership stalls (760). The eXtend™ segment shows remarkable
The transition to NACS (North American Charging Standard) connectors is progressing with the second pilot site becoming operational in June. This technical pivot is essential as more automakers adopt Tesla's connector standard, and EVgo's early implementation positions it favorably against competitors who may lag in this transition.
The company's EVgo ReNew™ program, which removed 100 legacy stalls, represents prudent lifecycle management by replacing underperforming or outdated equipment. This optimization enhances network reliability and user experience while improving overall capital efficiency.
Most significantly, the secured
Secured First of its Kind Commercial Bank Loan Facility to Accelerate Nationwide Infrastructure Buildout
$225 million oversubscribed 5-year facility placed in July with five participating lenders and option to increase up to$300 million .- Record revenue of
$98.0 million in the second quarter, representing an increase of47% year-over-year. - Charging network revenue totaled a record
$51.8 million in the second quarter, an increase of46% year-over-year, representing the 14th consecutive quarter of double-digit year-over-year charging revenue growth. - Network throughput reached 88 gigawatt-hours (“GWh”) in the second quarter, an increase of
35% year-over-year. - Added more than 240 new operational stalls during the second quarter.
- Ended the second quarter with 4,350 stalls in operation.
LOS ANGELES, Aug. 05, 2025 (GLOBE NEWSWIRE) -- EVgo Inc. (Nasdaq: EVGO) (“EVgo” or the “Company”) today announced results for the second quarter ended June 30, 2025. Management will host a webcast today at 8 a.m. ET / 5 a.m. PT to discuss EVgo’s results and other business highlights.
“EVgo delivered another record quarter powered by strong operational performance, improved operating efficiencies and focused execution on our financial initiatives,” said Badar Khan, EVgo’s CEO. “Our groundbreaking financing transaction marks the first of its kind in our sector, and will help accelerate stall growth and further EVgo’s position as an industry leader built for long-term success. As we look to the second half of the year, we remain fully focused on shareholder value creation by continuing to improve profitability, invest in future growth, deliver value to our customers and build on our financial momentum to move closer to our goal of achieving Adjusted EBITDA breakeven for the full year.”
Business Highlights
- Commercial Loan Facility: On July 23, 2025, EVgo secured a commercial bank financing facility (the “Facility”) of up to
$300 million , with$225 million committed and$75 million of incremental availability. Proceeds of the Facility will be used to accelerate EVgo’s nationwide deployment of high-power charging infrastructure by over 1,500 new fast charging stalls. - Stall Development: The Company ended the second quarter with 4,350 stalls in operation. EVgo added more than 240 new DC fast charging stalls during the quarter and removed 100 legacy stalls as part of its ongoing EVgo ReNew™ efforts.
- Average Daily Network Throughput: Average daily throughput per stall for the EVgo public network was 281 kilowatt hours per day in the second quarter of 2025, an increase of
22% compared to 230 kilowatt hours per day in the second quarter of 2024. - EVgo Autocharge+: Autocharge+ accounted for
28% of total charging sessions initiated in the second quarter of 2025. - Customer Accounts: Added over 122,000 new customer accounts in the second quarter, with a total of 1.5 million total customer accounts at the end of the quarter.
- J3400 (NACS) Connectors: Second pilot site with native NACS connectors became operational in June 2025. Additional locations anticipated to be added throughout 2025.
- PlugShare: PlugShare reached 6.9 million registered users and achieved 9.7 million check-ins since inception.
Financial & Operational Highlights
The below represent summary financial and operational figures for the second quarter of 2025.
- Revenue of
$98.0 million - Network Throughput1 of 88 gigawatt-hours
- Customer Account Additions of over 122,000 accounts
- Gross Profit of
$13.9 million - Net Loss Attributable to Class A Common Stockholders of
$13.0 million - Adjusted Gross Profit2 of
$28.4 million - Adjusted EBITDA2 of (
$1.9) million - Net Cash Provided by Operating Activities of
$14.1 million - Capital Expenditures of
$26.2 million - Capital Expenditures, Net of Capital Offsets2 of
$17.1 million
1 Network throughput for EVgo public network excludes dedicated and eXtend™ sites.
2 Adjusted Gross Profit, Adjusted EBITDA, and Capital Expenditures, Net of Capital Offsets are non-GAAP measures and have not been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”). For a definition of these non-GAAP measures and a reconciliation to the most directly comparable GAAP measure, please see “Definitions of Non-GAAP Financial Measures” and “Reconciliations of Non-GAAP Financial Measures” included elsewhere in this release.
| (unaudited, dollars in thousands) | Q2'25 | Q2'24 | Better (Worse) | Q2'25 YTD | Q2'24 YTD | Better (Worse) | |||||||||||||||||
| Network Throughput (GWh) | 88 | 65 | 35 | % | 172 | 117 | 47 | % | |||||||||||||||
| Revenue | $ | 98,030 | $ | 66,619 | 47 | % | $ | 173,317 | $ | 121,777 | 42 | % | |||||||||||
| Gross profit | $ | 13,908 | $ | 6,398 | 117 | % | $ | 23,231 | $ | 13,239 | 75 | % | |||||||||||
| Gross margin | 14.2 | % | 9.6 | % | 460 bps | 13.4 | % | 10.9 | % | 250 bps | |||||||||||||
| Net loss | $ | (29,821 | ) | $ | (29,610 | ) | (1 | )% | $ | (56,048 | ) | $ | (57,803 | ) | 3 | % | |||||||
| Adjusted Gross Profit¹ | $ | 28,359 | $ | 17,658 | 61 | % | $ | 53,729 | $ | 34,945 | 54 | % | |||||||||||
| Adjusted Gross Margin1 | 28.9 | % | 26.5 | % | 240 bps | 31.0 | % | 28.7 | % | 230 bps | |||||||||||||
| Adjusted EBITDA1 | $ | (1,933 | ) | $ | (7,982 | ) | 76 | % | $ | (7,862 | ) | $ | (15,189 | ) | 48 | % | |||||||
| 1 Adjusted Gross Profit, Adjusted Gross Margin, and Adjusted EBITDA are non-GAAP measures and have not been prepared in accordance with GAAP. For a definition of these non-GAAP measures and a reconciliation to the most directly comparable GAAP measures, please see “Definitions of Non-GAAP Financial Measures” and “Reconciliations of Non-GAAP Financial Measures” included elsewhere in these materials. | |||||||||||||||||||||||
| (unaudited, dollars in thousands) | Q2'25 | Q2'24 | Change | Q2'25 YTD | Q2'24 YTD | Change | ||||||||||||||
| Cash flows provided by (used in) operating activities | $ | 14,089 | $ | 7,556 | 86 | % | $ | 3,843 | $ | (6,526 | ) | 159 | % | |||||||
| GAAP capital expenditures | $ | 26,199 | $ | 24,196 | 8 | % | $ | 41,191 | $ | 45,267 | (9 | )% | ||||||||
| Less capital offsets: | ||||||||||||||||||||
| OEM infrastructure payments | 1,898 | 5,956 | (68 | )% | 6,873 | 11,782 | (42 | )% | ||||||||||||
| Proceeds from capital-build funding | 7,180 | 4,459 | 61 | % | 9,051 | 6,139 | 47 | % | ||||||||||||
| Total capital offsets | 9,078 | 10,415 | (13 | )% | 15,924 | 17,921 | (11 | )% | ||||||||||||
| Capital Expenditures, Net of Capital Offsets1 | $ | 17,121 | $ | 13,781 | 24 | % | $ | 25,267 | $ | 27,346 | (8 | )% | ||||||||
| 1 Capital Expenditures, Net of Capital Offsets is a non-GAAP measure and has not been prepared in accordance with GAAP. For a definition of this non-GAAP measures and a reconciliation to the most directly comparable GAAP measures, please see “Definitions of Non-GAAP Financial Measures” and “Reconciliations of Non-GAAP Financial Measures” included elsewhere in these materials. | ||||||||||||||||||||
| 6/30/2025 | 6/30/2024 | Increase | |||||||
| Stalls in operation: | |||||||||
| EVgo public network1 | 3,480 | 3,190 | 9 | % | |||||
| EVgo dedicated network2 | 110 | 40 | 175 | % | |||||
| EVgo eXtend™ | 760 | 190 | 300 | % | |||||
| Total stalls in operation | 4,350 | 3,420 | 27 | % | |||||
| 1 Stalls on publicly available chargers at charging stations that we own and operate on our network. | |||||||||
| 2 Stalls at charging stations that we own and operate on our network that are only available to dedicated fleet customers. | |||||||||
2025 Financial Guidance
EVgo is updating guidance as follows:
- Total revenue guidance of
$350 –$380 million - Adjusted EBITDA* of
$(5) million –$10 million
* A reconciliation of projected Adjusted EBITDA (non-GAAP) to net income (loss), the most directly comparable GAAP measure, is not provided because certain measures, including share-based compensation expense, which is excluded from Adjusted EBITDA, cannot be reasonably calculated or predicted at this time without unreasonable efforts. For a definition of Adjusted EBITDA, please see “Definitions of Non-GAAP Financial Measures” included elsewhere in this release.
Webcast Information
A live audio webcast for EVgo’s second quarter 2025 results will be held today at 8 a.m. ET / 5 a.m. PT. The webcast will be available at investors.evgo.com.
This press release, along with other investor materials that will be used or referred to during the webcast, including a slide presentation and reconciliations of certain non-GAAP measures to their nearest GAAP measures, will also be available on that site.
About EVgo
EVgo (Nasdaq: EVGO) is one of the nation’s leading public fast charging providers. With more than 1,100 fast charging stations across over 40 states, EVgo strategically deploys 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 its dedicated Innovation Lab, EVgo performs extensive interoperability testing and has ongoing technical collaborations with leading automakers and industry partners to advance the EV charging industry and deliver a seamless charging experience.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events or the Company’s future financial or operating performance. In some cases, you can identify forward-looking statements by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target,” “assume” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements are based on management’s current expectations or beliefs and are subject to numerous assumptions, risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. You are cautioned, therefore, against relying on any of these forward-looking statements. These forward-looking statements include, but are not limited to, those perceived as express or implied statements regarding EVgo’s future financial and operating performance; EVgo’s future profitability and priorities, including achieving breakeven Adjusted EBITDA; the Facility, including expectations regarding its impact on stall growth and the Facility’s effect on EVgo’s financial performance; EVgo’s development of next generation charging architecture; and EVgo’s progress on its network buildout. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of EVgo’s management and are not predictions of actual performance. There are a significant number of factors that could cause actual results to differ materially from the statements made in this press release, including changes adversely affecting EVgo’s business; EVgo’s dependence on the widespread adoption of electric vehicles (“EVs”) and growth of the EV and EV charging markets; EVgo’s reliance on existing project finance for the growth of its business, its ability to fully draw on its debt financing from the U.S. Department of Energy (the “DOE Loan”) and its ability to comply with the covenants and other terms thereof; competition from existing and new competitors; EVgo’s ability to expand into new service markets, grow its customer base and manage its operations; the risks associated with cyclical demand for EVgo’s services and vulnerability to industry downturns and regional or national downturns; fluctuations in EVgo’s revenue and operating results; unfavorable conditions or disruptions in the capital and credit markets and EVgo’s ability to obtain additional financing on commercially reasonable terms; EVgo’s ability to generate cash, service indebtedness and incur additional indebtedness; evolving domestic and foreign government laws, regulations, rules and standards that impact EVgo’s business, results of operations and financial condition, including regulations impacting the EV charging market and government programs designed to drive broader adoption of EVs and any reduction, modification or elimination of such programs, such as the enactment of the One Big Beautiful Bill Act of 2025, which addresses, among other things, the termination of the Alternative Fuel Vehicle Refueling Property Credit, other changes in policy under the current administration and 119th Congress and the potential changes in tariffs or sanctions and escalating trade wars; EVgo’s ability to adapt its assets and infrastructure to changes in industry and regulatory standards and market demands related to EV charging; impediments to EVgo’s expansion plans, including permitting and utility-related delays; EVgo’s ability to integrate any businesses it acquires; EVgo’s ability to recruit and retain experienced personnel; risks related to legal proceedings or claims, including liability claims; EVgo’s dependence on third parties, including hardware and software vendors and service providers, utilities and permit-granting entities; supply chain disruptions, elevated rates of inflation and other increases in expenses, including as a result of the implementation of tariffs by the U.S. and other countries; safety and environmental requirements or regulations that may subject EVgo to unanticipated liabilities or costs; EVgo’s ability to enter into and maintain valuable partnerships with commercial or public-entity property owners, landlords and/or tenants, original equipment manufacturers, fleet operators and suppliers; EVgo’s ability to maintain, protect and enhance EVgo’s intellectual property; EVgo’s ability to identify and complete suitable acquisitions or other strategic transactions to meet its goals and integrate key businesses it acquires; and the impact of general economic or political conditions, including associated changes in U.S. fiscal and monetary policy such as elevated interest rates, changing tariff and taxation policies, and geopolitical events such as the conflicts in Ukraine and the Middle East. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in the Company’s filings with the Securities and Exchange Commission (the “SEC”) including its most recent Annual Report on Form 10-K, as well as its other SEC filings, copies of which are available on EVgo’s website at investors.evgo.com, and on the SEC’s website at www.sec.gov. The forward-looking statements in this press release are based on information available to the Company as of the date hereof, and the Company disclaims any obligation to update any forward-looking statements, except as required by law.
Financial Statements
| EVgo Inc. and Subsidiaries Condensed Consolidated Balance Sheets | ||||||||
| June 30, 2025 | December 31, 2024 | |||||||
| (in thousands) | (unaudited) | |||||||
| Assets | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ | 154,468 | $ | 117,273 | ||||
| Restricted cash, current | 22,425 | 3,239 | ||||||
| Accounts receivable, net of allowance of | 31,860 | 45,849 | ||||||
| Accounts receivable, capital-build | 16,239 | 17,732 | ||||||
| Prepaids and other current assets | 27,386 | 21,282 | ||||||
| Total current assets | 252,378 | 205,375 | ||||||
| Restricted cash, noncurrent | 6,484 | — | ||||||
| Property, equipment and software, net | 415,714 | 414,968 | ||||||
| Operating lease right-of-use assets | 93,879 | 89,295 | ||||||
| Other assets | 30,273 | 24,321 | ||||||
| Intangible assets, net | 34,877 | 38,750 | ||||||
| Goodwill | 31,052 | 31,052 | ||||||
| Total assets | $ | 864,657 | $ | 803,761 | ||||
| Liabilities, redeemable noncontrolling interest and stockholders’ deficit | ||||||||
| Current liabilities | ||||||||
| Accounts payable | $ | 9,828 | $ | 13,031 | ||||
| Accrued liabilities | 53,381 | 42,953 | ||||||
| Operating lease liabilities, current | 7,039 | 7,326 | ||||||
| Deferred revenue, current | 45,890 | 46,258 | ||||||
| Other current liabilities | 2,013 | 1,842 | ||||||
| Total current liabilities | 118,151 | 111,410 | ||||||
| Operating lease liabilities, noncurrent | 87,792 | 83,043 | ||||||
| Asset retirement obligations | 25,597 | 23,793 | ||||||
| Capital-build liability | 53,273 | 51,705 | ||||||
| Deferred revenue, noncurrent | 70,609 | 70,466 | ||||||
| Earnout liability, at fair value | 374 | 942 | ||||||
| Warrant liabilities, at fair value | 4,036 | 9,740 | ||||||
| Other long-term liabilities | 7,705 | 8,931 | ||||||
| Long-term debt | 96,540 | — | ||||||
| Total liabilities | 464,077 | 360,030 | ||||||
| Commitments and contingencies | ||||||||
| Redeemable noncontrolling interest | $ | 630,720 | $ | 699,840 | ||||
| Stockholders’ deficit | ||||||||
| Preferred stock, | — | — | ||||||
| Class A common stock, | 13 | 13 | ||||||
| Class B common stock, | 17 | 17 | ||||||
| Accumulated deficit | (230,170 | ) | (256,139 | ) | ||||
| Total stockholders’ deficit | (230,140 | ) | (256,109 | ) | ||||
| Total liabilities, redeemable noncontrolling interest and stockholders’ deficit | $ | 864,657 | $ | 803,761 | ||||
| EVgo Inc. and Subsidiaries Condensed Consolidated Statements of Operations (unaudited) | ||||||||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||
| (in thousands, except per share data) | 2025 | 2024 | Change % | 2025 | 2024 | Change % | ||||||||||||||||
| Revenue | ||||||||||||||||||||||
| Charging, retail | $ | 32,779 | $ | 22,336 | 47 | % | $ | 62,794 | $ | 40,662 | 54 | % | ||||||||||
| Charging, commercial¹ | 8,573 | 6,176 | 39 | % | 16,356 | 11,283 | 45 | % | ||||||||||||||
| Charging, OEM | 7,908 | 3,638 | 117 | % | 13,166 | 6,370 | 107 | % | ||||||||||||||
| Regulatory credit sales | 2,450 | 1,749 | 40 | % | 5,236 | 3,783 | 38 | % | ||||||||||||||
| Network, OEM | 118 | 1,627 | (93 | )% | 1,374 | 5,050 | (73 | )% | ||||||||||||||
| Total charging network | 51,828 | 35,526 | 46 | % | 98,926 | 67,148 | 47 | % | ||||||||||||||
| eXtend | 37,385 | 27,667 | 35 | % | 60,873 | 46,818 | 30 | % | ||||||||||||||
| Ancillary¹ | 8,817 | 3,426 | 157 | % | 13,518 | 7,811 | 73 | % | ||||||||||||||
| Total revenue | 98,030 | 66,619 | 47 | % | 173,317 | 121,777 | 42 | % | ||||||||||||||
| Cost of sales | ||||||||||||||||||||||
| Charging network¹ | 32,545 | 23,056 | 41 | % | 62,154 | 41,766 | 49 | % | ||||||||||||||
| Other¹ | 37,235 | 26,016 | 43 | % | 57,635 | 45,264 | 27 | % | ||||||||||||||
| Depreciation, net of capital-build amortization | 14,342 | 11,149 | 29 | % | 30,297 | 21,508 | 41 | % | ||||||||||||||
| Total cost of sales | 84,122 | 60,221 | 40 | % | 150,086 | 108,538 | 38 | % | ||||||||||||||
| Gross profit | 13,908 | 6,398 | 117 | % | 23,231 | 13,239 | 75 | % | ||||||||||||||
| Operating expenses | ||||||||||||||||||||||
| General and administrative | 40,596 | 33,827 | 20 | % | 79,224 | 68,053 | 16 | % | ||||||||||||||
| Depreciation, amortization and accretion | 4,124 | 4,958 | (17 | )% | 8,219 | 9,943 | (17 | )% | ||||||||||||||
| Total operating expenses | 44,720 | 38,785 | 15 | % | 87,443 | 77,996 | 12 | % | ||||||||||||||
| Operating loss | (30,812 | ) | (32,387 | ) | 5 | % | (64,212 | ) | (64,757 | ) | 1 | % | ||||||||||
| Interest expense | (909 | ) | — | * | (1,426 | ) | — | * | ||||||||||||||
| Interest income | 1,718 | 2,064 | (17 | )% | 3,412 | 4,337 | (21 | )% | ||||||||||||||
| Other income (expense), net | 5 | (8 | ) | 163 | % | — | (17 | ) | 100 | % | ||||||||||||
| Change in fair value of earnout liability | (180 | ) | 101 | (278 | )% | 568 | 309 | 84 | % | |||||||||||||
| Change in fair value of warrant liabilities | 360 | 677 | (47 | )% | 5,704 | 2,395 | 138 | % | ||||||||||||||
| Total other income, net | 994 | 2,834 | (65 | )% | 8,258 | 7,024 | 18 | % | ||||||||||||||
| Loss before income tax expense | (29,818 | ) | (29,553 | ) | (1 | )% | (55,954 | ) | (57,733 | ) | 3 | % | ||||||||||
| Income tax expense | (3 | ) | (57 | ) | 95 | % | (94 | ) | (70 | ) | (34 | )% | ||||||||||
| Net loss | (29,821 | ) | (29,610 | ) | (1 | )% | (56,048 | ) | (57,803 | ) | 3 | % | ||||||||||
| Less: net loss attributable to redeemable noncontrolling interest | (16,823 | ) | (19,233 | ) | 13 | % | (31,688 | ) | (37,593 | ) | 16 | % | ||||||||||
| Net loss attributable to Class A common stockholders | $ | (12,998 | ) | $ | (10,377 | ) | (25 | )% | $ | (24,360 | ) | $ | (20,210 | ) | (21 | )% | ||||||
| Net loss per share to Class A common stockholders, basic and diluted | $ | (0.10 | ) | $ | (0.10 | ) | $ | (0.18 | ) | $ | (0.19 | ) | ||||||||||
| Weighted average Class A common stock outstanding, basic and diluted | 133,484 | 105,584 | 132,644 | 105,130 | ||||||||||||||||||
| * Percentage not meaningful | ||||||||||||||||||||||
| ¹ During the fourth quarter of 2024, we reclassed revenues earned through our dedicated charging solutions to fleets from commercial charging revenue to ancillary revenue. In addition, the associated costs for those revenues were reclassed from charging network cost of sales to other cost of sales. Previously reported amounts have been updated to conform to the current period presentation. | ||||||||||||||||||||||
| EVgo Inc. and Subsidiaries Condensed Consolidated Statements of Cash Flows (unaudited) | ||||||||
| Six Months Ended June 30, | ||||||||
| (in thousands) | 2025 | 2024 | ||||||
| Cash flows from operating activities | ||||||||
| Net loss | $ | (56,048 | ) | $ | (57,803 | ) | ||
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities | ||||||||
| Depreciation, amortization and accretion | 38,516 | 31,451 | ||||||
| Net loss on disposal of property and equipment, net of insurance recoveries, and impairment expense | 4,518 | 5,497 | ||||||
| Share-based compensation | 12,525 | 10,103 | ||||||
| Change in fair value of earnout liability | (568 | ) | (309 | ) | ||||
| Change in fair value of warrant liabilities | (5,704 | ) | (2,395 | ) | ||||
| Paid-in-kind interest, amortization of deferred debt issuance costs, net of capitalized interest | 1,401 | — | ||||||
| Gain on sales-type lease | (2,500 | ) | — | |||||
| Other | 83 | 5 | ||||||
| Changes in operating assets and liabilities | ||||||||
| Accounts receivable, net | 13,988 | 112 | ||||||
| Prepaids and other current assets and other assets | (4,643 | ) | 1,324 | |||||
| Operating lease assets and liabilities, net | (121 | ) | (3 | ) | ||||
| Accounts payable | (4,875 | ) | 6,130 | |||||
| Accrued liabilities | 8,737 | (5,764 | ) | |||||
| Deferred revenue | (224 | ) | 5,461 | |||||
| Other current and noncurrent liabilities | (1,242 | ) | (335 | ) | ||||
| Net cash provided by (used in) operating activities | 3,843 | (6,526 | ) | |||||
| Cash flows from investing activities | ||||||||
| Capital expenditures | (41,191 | ) | (45,267 | ) | ||||
| Proceeds from insurance for property losses | 24 | 152 | ||||||
| Net cash used in investing activities | (41,167 | ) | (45,115 | ) | ||||
| Cash flows from financing activities | ||||||||
| Proceeds from long-term debt | 94,180 | — | ||||||
| Proceeds from capital-build funding | 9,051 | 6,139 | ||||||
| Payments of withholding tax on net issuance of restricted stock units | (529 | ) | — | |||||
| Payments of deferred debt issuance costs | (2,513 | ) | (908 | ) | ||||
| Net cash provided by financing activities | 100,189 | 5,231 | ||||||
| Net increase (decrease) in cash, cash equivalents and restricted cash | 62,865 | (46,410 | ) | |||||
| Cash, cash equivalents and restricted cash, beginning of period | 120,512 | 209,146 | ||||||
| Cash, cash equivalents and restricted cash, end of period | $ | 183,377 | $ | 162,736 | ||||
Use of Non-GAAP Financial Measures
To supplement EVgo’s financial information, which is prepared and presented in accordance with GAAP, EVgo uses certain non-GAAP financial measures. The presentation of non-GAAP financial measures is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. EVgo uses these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. EVgo believes that these non-GAAP financial measures provide meaningful supplemental information regarding the Company’s performance by excluding certain items that may not be indicative of EVgo’s recurring core business operating results.
EVgo believes that both management and investors benefit from referring to these non-GAAP financial measures in assessing EVgo’s performance. These non-GAAP financial measures also facilitate management’s internal comparisons to the Company’s historical performance. EVgo believes these non-GAAP financial measures are useful to investors both because (1) they allow for greater transparency with respect to key metrics used by management in its financial and operational decision-making and (2) they are used by EVgo’s institutional investors and the analyst community to help them analyze the health of EVgo’s business.
For more information on these non-GAAP financial measures, including reconciliations to the most comparable GAAP measures, please see the sections titled “Definitions of Non-GAAP Financial Measures” and “Reconciliations of Non-GAAP Financial Measures.”
Definitions of Non-GAAP Financial Measures
This release includes some, but not all of the following non-GAAP financial measures, in each case as defined below: “Charging Network Gross Profit,” “Charging Network Gross Margin,” “Adjusted Cost of Sales,” “Adjusted Cost of Sales as a Percentage of Revenue,” “Adjusted Gross Profit (Loss),” “Adjusted Gross Margin,” “Adjusted General and Administrative Expenses,” “Adjusted General and Administrative Expenses as a Percentage of Revenue,” “EBITDA,” “EBITDA Margin,” “Adjusted EBITDA,” “Adjusted EBITDA Margin,” and “Capital Expenditures, Net of Capital Offsets.” With respect to Capital Expenditures, Net of Capital Offsets, pursuant to the terms of certain OEM contracts, EVgo is paid well in advance of when revenue can be recognized, and usually, the payment is tied to the number of stalls that commence operations under the applicable contractual arrangement while the related revenue is deferred at the time of payment and is recognized as revenue over time as EVgo provides charging and other services to the OEM and the OEM’s customers. EVgo management therefore uses these measures internally to establish forecasts, budgets, and operational goals to manage and monitor its business, including the cash used for, and the return on, its investment in its charging infrastructure. EVgo believes that these measures are useful to investors in evaluating EVgo’s performance and help to depict a meaningful representation of the performance of the underlying business, enabling EVgo to evaluate and plan more effectively for the future.
Charging Network Gross Profit, Charging Network Gross Margin, Adjusted Cost of Sales, Adjusted Cost of Sales as a Percentage of Revenue, Adjusted Gross Profit (Loss), Adjusted Gross Margin, Adjusted General and Administrative Expenses, Adjusted General and Administrative Expenses as a Percentage of Revenue, EBITDA, EBITDA Margin, Adjusted EBITDA, Adjusted EBITDA Margin and Capital Expenditures, Net of Capital Offsets are not prepared in accordance with GAAP and may be different from non-GAAP financial measures used by other companies. These measures should not be considered as measures of financial performance under GAAP and the items excluded from or included in these metrics are significant components in understanding and assessing EVgo’s financial performance. These metrics should not be considered as alternatives to net income (loss) or any other performance measures derived in accordance with GAAP.
EVgo defines Charging Network Gross Profit as total charging network revenue less charging network cost of sales. EVgo defines Charging Network Gross Margin as Charging Network Gross Profit divided by total charging network revenue. EVgo defines Adjusted Cost of Sales as cost of sales before (i) depreciation, net of capital-build amortization, and (ii) share-based compensation. EVgo defines Adjusted Cost of Sales as a Percentage of Revenue as Adjusted Cost of Sales as a percentage of revenue. EVgo defines Adjusted Gross Profit (Loss) as revenue less Adjusted Cost of Sales. EVgo defines Adjusted Gross Margin as Adjusted Gross Profit (Loss) as a percentage of revenue. EVgo defines Adjusted General and Administrative Expenses as general and administrative expenses before (i) share-based compensation, (ii) loss on disposal of property and equipment, net of insurance recoveries, and impairment expense, (iii) bad debt expense (recoveries), and (iv) certain other items that management believes are not indicative of EVgo’s ongoing performance. EVgo defines Adjusted General and Administrative Expenses as a Percentage of Revenue as Adjusted General and Administrative Expenses as a percentage of revenue. EVgo defines EBITDA as net income (loss) before (i) depreciation, net of capital-build amortization, (ii) amortization, (iii) accretion, (iv) interest income, (v) interest expense, and (vi) income tax expense (benefit). EVgo defines EBITDA Margin as EBITDA as a percentage of revenue. EVgo defines Adjusted EBITDA as EBITDA plus (i) share-based compensation, (ii) loss on disposal of property and equipment, net of insurance recoveries, and impairment expense, (iii) loss (gain) on investments, (iv) bad debt expense (recoveries), (v) change in fair value of earnout liability, (vi) change in fair value of warrant liabilities, and (vii) certain other items that management believes are not indicative of EVgo’s ongoing performance. EVgo defines Adjusted EBITDA Margin as Adjusted EBITDA as a percentage of revenue. EVgo defines Capital Expenditures, Net of Capital Offsets as capital expenditures adjusted for the following capital offsets: (i) all payments under OEM infrastructure agreements excluding any amounts directly attributable to OEM customer charging credit programs and pass-through of non-capital expense reimbursements, (ii) proceeds from capital-build funding and (iii) proceeds from the transfer of 30C income tax credits, net of transaction costs. The tables below present quantitative reconciliations of these measures to their most directly comparable GAAP measures as described in this paragraph.
Reconciliations of Non-GAAP Financial Measures
The following unaudited table presents a reconciliation of EBITDA, EBITDA Margin, Adjusted EBITDA, and Adjusted EBITDA Margin to the most directly comparable GAAP measure:
| (unaudited, dollars in thousands) | Q2'25 | Q2'24 | Change | Q2'25 YTD | Q2'24 YTD | Change | ||||||||||||||||
| GAAP revenue | $ | 98,030 | $ | 66,619 | 47 | % | $ | 173,317 | $ | 121,777 | 42 | % | ||||||||||
| GAAP net loss | $ | (29,821 | ) | $ | (29,610 | ) | (1 | )% | $ | (56,048 | ) | $ | (57,803 | ) | 3 | % | ||||||
| GAAP net loss margin | (30.4 | %) | (44.4 | %) | 1,400 bps | (32.3 | )% | (47.5 | )% | 1,520 bps | ||||||||||||
| EBITDA adjustments: | ||||||||||||||||||||||
| Depreciation, net of capital-build amortization | $ | 14,417 | $ | 11,288 | 28 | % | $ | 30,456 | $ | 21,764 | 40 | % | ||||||||||
| Amortization | 3,330 | 4,342 | (23 | )% | 6,754 | 8,805 | (23 | )% | ||||||||||||||
| Accretion | 719 | 477 | 51 | % | 1,306 | 882 | 48 | % | ||||||||||||||
| Interest expense | 909 | — | * | 1,426 | — | * | ||||||||||||||||
| Interest income | (1,718 | ) | (2,064 | ) | 17 | % | (3,412 | ) | (4,337 | ) | 21 | % | ||||||||||
| Income tax expense | 3 | 57 | (95 | )% | 94 | 70 | 34 | % | ||||||||||||||
| Total EBITDA adjustments | 17,660 | 14,100 | 25 | % | 36,624 | 27,184 | 35 | % | ||||||||||||||
| EBITDA | $ | (12,161 | ) | $ | (15,510 | ) | 22 | % | $ | (19,424 | ) | $ | (30,619 | ) | 37 | % | ||||||
| EBITDA Margin | (12.4 | %) | (23.3 | %) | 1,090 bps | (11.2 | )% | (25.1 | )% | 1,390 bps | ||||||||||||
| Adjusted EBITDA Adjustments: | ||||||||||||||||||||||
| Share-based compensation | $ | 7,031 | $ | 5,402 | 30 | % | $ | 12,525 | $ | 10,103 | 24 | % | ||||||||||
| Loss on disposal of property and equipment, net of insurance recoveries, and impairment expense | 3,319 | 2,757 | 20 | % | 4,518 | 5,497 | (18 | )% | ||||||||||||||
| Loss on investments | — | — | * | — | 5 | (100 | )% | |||||||||||||||
| Bad debt expense | 58 | 81 | (28 | )% | 651 | 311 | 109 | % | ||||||||||||||
| Change in fair value of earnout liability | 180 | (101 | ) | 278 | % | (568 | ) | (309 | ) | (84 | )% | |||||||||||
| Change in fair value of warrant liabilities | (360 | ) | (677 | ) | 47 | % | (5,704 | ) | (2,395 | ) | (138 | )% | ||||||||||
| Other1 | — | 66 | (100 | )% | 140 | 2,218 | (94 | )% | ||||||||||||||
| Total Adjusted EBITDA adjustments | 10,228 | 7,528 | 36 | % | 11,562 | 15,430 | (25 | )% | ||||||||||||||
| Adjusted EBITDA | $ | (1,933 | ) | $ | (7,982 | ) | 76 | % | $ | (7,862 | ) | $ | (15,189 | ) | 48 | % | ||||||
| Adjusted EBITDA Margin | (2.0 | %) | (12.0 | %) | 1,000 bps | (4.5 | )% | (12.5 | )% | 800 bps | ||||||||||||
| * Percentage greater than | ||||||||||||||||||||||
| ¹ For the six months ended June 30, 2025, comprised primarily of nonrecurring professional fees related to the Secondary Offering, which closed on December 18, 2024. For the six months ended June 30, 2024, comprised primarily of costs related to the reorganization of our resources previously announced by us on January 17, 2024. | ||||||||||||||||||||||
The following unaudited table presents a reconciliation of Charging Network Gross Profit and Charging Network Gross Margin to the most directly comparable GAAP measures:
| (unaudited, dollars in thousands) | Q2'25 | Q2'24 | Change | Q2'25 YTD | Q2'24 YTD | Change | ||||||||||||||||
| GAAP total charging network revenue1 | $ | 51,828 | $ | 35,526 | 46 | % | $ | 98,926 | $ | 67,148 | 47 | % | ||||||||||
| GAAP charging network cost of sales1 | 32,545 | 23,056 | 41 | % | 62,154 | 41,766 | 49 | % | ||||||||||||||
| Charging Network Gross Profit | $ | 19,283 | $ | 12,470 | 55 | % | $ | 36,772 | $ | 25,382 | 45 | % | ||||||||||
| Charging Network Gross Margin | 37.2 | % | 35.1 | % | 210 bps | 37.2 | % | 37.8 | % | (60) bps | ||||||||||||
| ¹ During the fourth quarter of 2024, we reclassed revenues earned through our dedicated charging solutions to fleets from commercial charging revenue to ancillary revenue. In addition, the associated costs for those revenues were reclassed from charging network cost of sales to other cost of sales. Previously reported amounts have been updated to conform to the current period presentation. | ||||||||||||||||||||||
The following unaudited table presents a reconciliation of Adjusted Cost of Sales, Adjusted Cost of Sales as a Percentage of Revenue, Adjusted Gross Profit and Adjusted Gross Margin to the most directly comparable GAAP measures:
| (unaudited, dollars in thousands) | Q2'25 | Q2'24 | Change | Q2'25 YTD | Q2'24 YTD | Change | ||||||||||||||||
| GAAP revenue | $ | 98,030 | $ | 66,619 | 47 | % | $ | 173,317 | $ | 121,777 | 42 | % | ||||||||||
| GAAP cost of sales | 84,122 | 60,221 | 40 | % | 150,086 | 108,538 | 38 | % | ||||||||||||||
| GAAP gross profit | $ | 13,908 | $ | 6,398 | 117 | % | $ | 23,231 | $ | 13,239 | 75 | % | ||||||||||
| GAAP cost of sales as a percentage of revenue | 85.8 | % | 90.4 | % | (460) bps | 86.6 | % | 89.1 | % | (250) bps | ||||||||||||
| GAAP gross margin | 14.2 | % | 9.6 | % | 460 bps | 13.4 | % | 10.9 | % | 250 bps | ||||||||||||
| Adjusted Cost of Sales adjustments | ||||||||||||||||||||||
| Depreciation, net of capital-build amortization | $ | 14,342 | $ | 11,149 | 29 | % | $ | 30,297 | $ | 21,508 | 41 | % | ||||||||||
| Share-based compensation | 109 | 111 | (2 | )% | 201 | 198 | 2 | % | ||||||||||||||
| Total Adjusted Cost of Sales adjustments | $ | 14,451 | $ | 11,260 | 28 | % | 30,498 | $ | 21,706 | 41 | % | |||||||||||
| Adjusted Cost of Sales | $ | 69,671 | $ | 48,961 | 42 | % | $ | 119,588 | $ | 86,832 | 38 | % | ||||||||||
| Adjusted Cost of Sales as a Percentage of Revenue | 71.1 | % | 73.5 | % | (240) bps | 69.0 | % | 71.3 | % | (230) bps | ||||||||||||
| Adjusted Gross Profit | $ | 28,359 | $ | 17,658 | 61 | % | $ | 53,729 | $ | 34,945 | 54 | % | ||||||||||
| Adjusted Gross Margin | 28.9 | % | 26.5 | % | 240 bps | 31.0 | % | 28.7 | % | 230 bps | ||||||||||||
The following unaudited table presents a reconciliation of Adjusted General and Administrative Expenses and Adjusted General and Administrative Expenses as a Percentage of Revenue to the most directly comparable GAAP measures:
| (unaudited, dollars in thousands) | Q2'25 | Q2'24 | Change | Q2'25 YTD | Q2'24 YTD | Change | ||||||||||||||||
| GAAP revenue | $ | 98,030 | $ | 66,619 | 47 | % | $ | 173,317 | $ | 121,777 | 42 | % | ||||||||||
| GAAP general and administrative expenses | $ | 40,596 | $ | 33,827 | 20 | % | $ | 79,224 | $ | 68,053 | 16 | % | ||||||||||
| GAAP general and administrative expenses as a percentage of revenue | 41.4 | % | 50.8 | % | (940) bps | 45.7 | % | 55.9 | % | (1,020) bps | ||||||||||||
| Less adjustments: | ||||||||||||||||||||||
| Share-based compensation | $ | 6,922 | $ | 5,291 | 31 | % | $ | 12,324 | $ | 9,905 | 24 | % | ||||||||||
| Loss on disposal of property and equipment, net of insurance recoveries, and impairment expense | 3,319 | 2,757 | 20 | % | 4,518 | 5,497 | (18 | )% | ||||||||||||||
| Bad debt expense | 58 | 81 | (28 | )% | 651 | 311 | 109 | % | ||||||||||||||
| Other1 | — | 66 | (100 | )% | 140 | 2,218 | (94 | )% | ||||||||||||||
| Total adjustments | 10,299 | 8,195 | 26 | % | 17,633 | 17,931 | (2 | )% | ||||||||||||||
| Adjusted General and Administrative Expenses | $ | 30,297 | $ | 25,632 | 18 | % | $ | 61,591 | $ | 50,122 | 23 | % | ||||||||||
| Adjusted General and Administrative Expenses as a Percentage of Revenue | 30.9 | % | 38.5 | % | (760) bps | 35.5 | % | 41.2 | % | (570) bps | ||||||||||||
| ¹ For the six months ended June 30, 2025, comprised primarily of nonrecurring professional fees related to the Secondary Offering, which closed on December 18, 2024. For the six months ended June 30, 2024, comprised primarily of costs related to the reorganization of our resources previously announced by us on January 17, 2024. | ||||||||||||||||||||||
The following unaudited table presents a reconciliation of Capital Expenditures, Net of Capital Offsets, to the most directly comparable GAAP measure:
| (unaudited, dollars in thousands) | Q2'25 | Q2'24 | Change | Q2'25 YTD | Q2'24 YTD | Change | ||||||||||||
| GAAP capital expenditures | $ | 26,199 | $ | 24,196 | 8 | % | $ | 41,191 | $ | 45,267 | (9 | )% | ||||||
| Less capital offsets: | ||||||||||||||||||
| OEM infrastructure payments | $ | 1,898 | $ | 5,956 | (68 | )% | $ | 6,873 | $ | 11,782 | (42 | )% | ||||||
| Proceeds from capital-build funding | 7,180 | 4,459 | 61 | % | 9,051 | 6,139 | 47 | % | ||||||||||
| Total capital offsets | 9,078 | 10,415 | (13 | )% | 15,924 | 17,921 | (11 | )% | ||||||||||
| Capital Expenditures, Net of Capital Offsets | $ | 17,121 | $ | 13,781 | 24 | % | $ | 25,267 | $ | 27,346 | (8 | )% | ||||||
| * Percentage not meaningful | ||||||||||||||||||
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FAQ
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