EVgo Inc. to Report Fourth Quarter and Full Year 2022 Results on March 30, 2023
March 13 2023 - 7:00AM
Business Wire
EVgo Inc. (Nasdaq: EVGO), (“EVgo” or the “Company”), one of the
nation’s largest public fast charging networks for electric
vehicles (EVs), announced today that it will report results for its
fourth quarter and full year 2022 on March 30, 2023 and will host a
conference call to discuss those results at 8:00 a.m. PT/11:00 a.m.
ET on March 30, 2023.
EVgo also disclosed, in response to investor inquiries, that it
has no cash deposits or equivalents in Silicon Valley Bank.
EVgo confirms that it expects to report 2022 financial and
operational results within the guidance ranges previously provided
by the Company on November 2, 2022 and as reconfirmed by the
Company on February 23, 2023.
Conference Call Information
Interested investors and other parties may access a live webcast
of the conference call on the Events & Presentations page in
the Investor Relations section of EVgo’s website at
https://investors.evgo.com/events-and-presentations.
The call can also be accessed live over the telephone by
dialing:
Toll Free: (888) 340-5044 (for U.S. callers)
Toll/International: (646) 960-0363 (for callers outside the
U.S.) Conference ID: 6304708
Please log into the webcast or dial in to the call at least 10
minutes before the start of the event. An archive of the webcast
will be available for a period of time shortly after the call on
the Events & Presentations page in the Investor Relations
section of EVgo’s website.
About EVgo
EVgo (Nasdaq: EVGO) is a leader in charging solutions, building
and operating the infrastructure and tools needed to expedite the
mass adoption of electric vehicles for individual drivers,
rideshare and commercial fleets, and businesses. Since its founding
in 2010, EVgo has led the way to a cleaner transportation future,
and its network has been powered by 100% renewable energy since
2019 through the purchase of renewable energy certificates. As one
of the nation’s largest public fast charging networks, EVgo’s owned
and operated charging network includes around 900 fast charging
locations, 60 metropolitan areas and 30 states. EVgo continues to
add more DC fast charging locations through EVgo eXtend™, its white
label service offering. EVgo is accelerating transportation
electrification through partnerships with automakers, fleet and
rideshare operators, retail hosts such as grocery stores, shopping
centers, and gas stations, policy leaders, and other organizations.
With a rapidly growing network, robust software products and unique
service offerings for drivers and partners including EVgo Optima™,
EVgo Inside™, EVgo Rewards™, and Autocharge+, EVgo enables a
world-class charging experience where drivers live, work, travel
and play.
Cautionary Statement Regarding Preliminary Financial
Results
The Company has not yet completed its financial close processes
for fiscal year 2022. Therefore, the Company’s statements regarding
its expectations for its financial results for the year ended
December 31, 2022 included in this press release are based on
preliminary unaudited estimates only and should not be viewed as a
substitute for full audited financial statements prepared in
accordance with GAAP. They reflect management’s estimates based
solely upon information available to management as of the date of
this press release. Further information learned during the
financial close processes and audit may alter the final results.
The Company cautions you that actual results which are prepared in
accordance with GAAP and are subject to a full-year audit may
differ materially from such expectations. Accordingly, you should
not place undue reliance upon this preliminary financial
information.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of the “safe harbor” provisions of the United States
Private Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as
“estimate,” “plan,” “project,” “forecast,” “intend,” “will,”
“expect,” “anticipate,” “believe,” “seek,” “target” 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.
These forward-looking statements include, but are not limited to,
our preliminary results for revenue and Adjusted EBITDA (Non-GAAP),
network throughput, stalls in operation or under construction or
other operational measures, including any guidance issued in
respect thereof; express or implied statements regarding EVgo’s
future financial performance, revenues, capital expenditures,
stalls in operation or under construction and network throughput;
EVgo’s expectation of market position and acceleration in its
business due to factors including increased EV adoption and demand
for EV charging; and the Company’s collaboration with partners
enabling transportation electrification and effective deployment of
chargers. 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 information learned during the
completion of financial close or audit processes; changes or
developments in the broader general market; ongoing impacts from
COVID-19 on EVgo’s business, customers, and suppliers; macro
political, economic, and business conditions, including inflation
and geopolitical conflicts that could impact our supply chains;
increased competition, including from new and existing entrants in
the EV charging market; unfavorable conditions or further
disruptions in the capital and credit markets and EVgo’s ability to
obtain additional capital on commercially reasonable terms; EVgo’s
limited operating history as a public company; EVgo’s dependence on
widespread adoption of EVs and increased installation of charging
stations; mechanisms surrounding energy and non-energy costs for
EVgo’s charging stations; the impact of governmental support and
mandates that could reduce, modify, or eliminate financial
incentives, rebates, and tax credits; supply chain disruptions;
EVgo’s ability to expand into new service markets, grow its
customer base, and manage its operations; impediments to EVgo’s
expansion plans, including permitting delays; the need to attract
additional fleet operators as customers; potential adverse effects
on EVgo’s revenue and gross margins if customers increasingly claim
clean energy credits and, as a result, they are no longer available
to be claimed by us; risks related to EVgo’s dependence on its
intellectual property; and risks that EVgo’s technology could have
undetected defects or errors. Additional risks and uncertainties
that could affect the Company’s financial results are included
under the captions “Risk Factors” and “Management’s Discussion and
Analysis of Financial Condition and Results of Operations of EVgo”
in EVgo’s Annual Report on Form 10-K for the year ended December
31, 2021, and the caption “Risk Factors” in its Quarterly Reports
on Form 10-Q for the quarterly periods ended March 31, 2022, June
30, 2022 and September 30, 2022, in each case filed with the
Securities and Exchange Commission (the “SEC”), as well as its
other filings with the SEC, copies of which are available on EVgo’s
website at investors.evgo.com, and on the SEC’s website at
www.sec.gov. All forward-looking statements in this press release
are based on information available to us as of the date hereof, and
EVgo does not assume any obligation to update the forward-looking
statements provided to reflect events that occur or circumstances
that exist after the date on which they were made, except as
required by applicable law.
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