EVGOEVgo Inc.

Services-Automotive Repair, Services & Parking

Revenue: $384M; 50% YoY
Operating margin: -28.8%; 44% YoY
EBITDA: −$111M; 16% YoY
Market cap: $218M
Employees: 376; $1M revenue each
Net debt / EBITDA: —; $175M net debt
AI in 10-K: 1.2; mentions per 10K words

Takeover score 0 of 13

Fixable underperformance 0 of 7

TSR below peersNo
—
3+ of last 5 years
High CEO pay despite TSRNo
—
Median CEO pay ≥ $15M while TSR trails
Earnings not backed by cashNo
—
Cash flow under 80% of net income
Dilutive SBCNo
7% of revenue
Over 10% of revenue
Payouts exceed cash flowNo
0% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyNo
3% of assets
Over 40% of assets
Shareholder dissentNo
89% lowest support
Any vote under 80% support

Buyer economics 0 of 4

Low revenue per employeeNo
$1M per employee
Bottom quartile of its SIC industry
Quiet on AINo
1.2 per 10K words · 38th pct
Bottom quartile of AI mentions in 10-Ks
Net cashNo
—
More cash than debt, positive EBITDA
Buyout-sizedNo
$218M market cap
Market cap $500M–$5B

Catalysts 0 of 2

Active 13DNo
0 filings
Active-intent 13D in 18 months
Net insider sellingNo
$0 net
Net sales over $10M in 12 months

Financials

Metric	FY2021	FY2022	FY2023	FY2024	FY2025	YoY	Trend
Revenue	$22M	$55M	$161M	$257M	$384M	50%
Operating income	−$90M	−$150M	−$153M	−$132M	−$111M	16%
Net income	−$6M	−$28M	−$42M	−$44M	−$42M	6.2%
Operating cash flow	−$30M	−$59M	−$37M	−$7M	−$8M	6.5%
Capex	$65M	$200M	$159M	$95M	$117M	23%
Stock-based comp	$11M	$25M	$30M	$22M	$27M	23%

Deal filings

Filed	Form	Acquirer	Price	Premium
May 27, 2021	DEFM14A	—	$10.00	0%
Feb 12, 2021	PREM14A	LS Power Equity Partners IV, L.P.	$10.00	100%

13D filers

Filed	Filer	Form	Stake	Intent
Nov 2, 2026	EVgo Member Holdings, LLC	SCHEDULE 13D/A	56.8%	Passive
Dec 18, 2024	EVgo Member Holdings, LLC	SCHEDULE 13D/A	90.4%	Active
Oct 18, 2024	EVgo Member Holdings, LLC	SC 13D	—	Passive

Insider trading

No open-market trades in the last 12 months.

Pay vs performance

No pay-versus-performance disclosure yet.