EV charging network company Volta's Q4 net loss widens to US$121.1M from US$31.5M a year ago, revenue up 45% from a year ago to US$12.1M; firm added 193 charging stalls in Q4, with total charging installs in 2021 growing 44% year-over-year to 2,330 units

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SAN FRANCISCO , April 19, 2022 (press release) –

  • Fourth Quarter Revenue Increased 45% Year-Over-Year to $12.1 Million
  • Annual Revenue Increased 66% Year-Over-Year to $32.3 Million
  • 44% Year-Over-Year Growth in Total Installed Stalls – 2,330 as of December 31, 2021

Volta Inc. (NYSE: VLTA, VLTA WS) (“Volta” or the “Company”), an industry-leading electric vehicle (“EV”) charging network powering vehicles and commerce, today announced financial results for its fourth quarter and full fiscal year ended December 31, 2021.

“2021 was a transformative year for both the company and the industry," said Francois Chadwick, CFO of Volta. "We continue to see significant growth in the market, and we are well-positioned to take advantage of this acceleration."

Recent Key Company Highlights in 2021 and 2022

  • Walgreens - Expanded partnership with 1,000 DC fast charging stalls at over 500 Walgreens throughout the U.S. This agreement furthers Volta’s DC fast charging expansion strategy and Walgreens’ support of initiatives that aim to lower emissions and make the planet healthier for communities everywhere.
  • European Expansion with New Signings - Signed partnership deals with the global sporting goods chain Decathlon, starting with installations in St. Gallen, Switzerland, and the movie theater company Cineplex Group in Germany. Volta also celebrated the installation of its first charging stations in France at the popular restaurant Key West near Annecy.
  • Partnership with Cinemark Theater -Expanded beyond the initially announced 100 domestic stations.

Fourth Quarter 2021 Financial Highlights

  • Revenues increased 45% year-over-year to $12.1 million, compared to $8.4 million in the prior-year period.

Revenues by Category

 

 

Three Months Ended December 31,

(in thousands)

 

2021

 

2020

Revenues

 

 

 

 

Behavior and Commerce (Media and Advertising)

 

$

8,587

 

$

3,832

Network Development

 

 

2,812

 

 

4,410

Charging Network Operations

 

 

676

 

 

--

Network Intelligence

 

 

63

 

 

133

Total Revenues

 

$

12,139

 

$

8,375

  • Selling, general and administrative expenses excluding stock-based compensation and one-time expenses were $32.2 million, compared to $13.1 million, also excluding stock-based compensation and one-time expenses, in the prior-year period.
  • Net loss was $121.1 million, compared to a loss of $31.5 million in the prior-year period.
  • Adjusted EBITDA was $30.7 million loss, compared to $12.9 million loss in the prior-year period.
  • Cash and marketable securities were $262.3 million as of December 31, 2021.
  • Weighted average shares outstanding for the three months ended December 31, 2021, were 160.4 million.

Full Year 2021 Financial Highlights

  • Revenues increased 66% year-over-year to $32.3 million, compared to $19.5 million in the prior-year.

Revenues by Category

 

 

Year ended December 31,

(in thousands)

 

2021

 

2020

Revenues

 

 

Behavior and Commerce (Media and Advertising)

 

$

25,961

 

$

8,014

Network Development

 

 

5,224

 

 

10,598

Charging Network Operations

 

 

676

 

 

706

Network Intelligence

 

 

450

 

 

133

Total Revenues

 

$

32,311

 

$

19,451

  • Net loss was $276.6 million, compared to a loss of $70.6 million in the prior-year period.
  • Adjusted EBITDA was $83.8 million loss for the full year 2021, compared to $40.1 million loss in 2020.

For a reconciliation of Adjusted EBITDA and EBITDA, which are non-GAAP measures, to net loss, the most comparable GAAP measure, please see the table captioned “Non-GAAP Reconciliation” set forth at the end of this press release. These expectations do not consider, or give effect to, among other things, unforeseen events, including changes in global economic conditions.

Total Stalls Connected, including Site Partners
Total stalls connected as of December 31, 2021, was 2,330, representing a 44% year-over-year increase. A stall is attributed to a station based on the number of vehicles that can charge concurrently and there are certain configurations of Volta sites where one station is capable of charging more than one vehicle at a time. The Company added 193 stalls in the quarter and ended 2021 in 23 states.

Full Year 2022 Outlook
Based on current business conditions, business trends and other factors, for the full year ending December 31, 2022, the Company reiterates guidance of:

  • Full year 2022 Revenue in the range of $70 million to $80 million
  • Total incremental, connected stalls in the range of 1,700 to 2,000

In addition, the Company is now guiding to:

  • Total incremental, connected sites to be in the range of 650 to 750 sites

First Quarter Outlook
Based on current business conditions, business trends and other factors, for the three months ended March 31, 2022, the Company reiterates guidance of:

  • First quarter Revenue in the range of $8 million to $8.5 million

Webcast and Conference Call Information
Company management will host a webcast and conference call on April 18, 2022, at 8:30 a.m. Eastern Time, to discuss the Company’s financial results and business operations updates.

Interested investors and other parties can listen to a webcast of the live conference call and access the Company’s first quarter update presentation by logging onto the Investor Relations section of the Company’s website at https://investors.voltacharging.com/.

The conference call can be accessed live over the phone by dialing +1-877-423-9813 (domestic) or + 1-201-689-8573 (international). A telephonic replay will be available approximately two hours after the call by dialing +1-844-512-2921, or for international callers, +1-412-317-6671. The pin number for the replay is 13729279. The replay will be available until 11:59 p.m. Eastern Time on May 2, 2022.

About Volta Inc.
Volta Inc. (NYSE: VLTA) is an industry-leading electric vehicle (“EV”) charging network powering vehicles and commerce. Volta’s vision is to build EV charging networks that capitalize on and catalyze the shift from combustion-powered miles to electric miles by placing stations where consumers live, work, shop, and play. By leveraging a data-driven understanding of driver behavior to deliver EV charging solutions that fit seamlessly into people’s daily routines, Volta’s goal is to benefit consumers, brands, and real-estate locations while helping to build the infrastructure of the future. As part of Volta’s unique EV charging offering, its stations allow it to enhance its site hosts’ and strategic partners’ core commercial interests, creating a new means for them to benefit from the transformative shift to electric mobility. To learn more, visit www.voltacharging.com.

Non-GAAP Financial Information
This press release contains references to EBITDA and Adjusted EBITDA of Volta, which are adjusted from results based on generally accepted accounting principles in the United States (“GAAP”) and exclude certain expenses, gains, and losses. The Company defines and calculates EBITDA as net loss attributable to Volta before the impact of interest income or expense, provision for income taxes, depreciation, and amortization. The Company defines and calculates Adjusted EBITDA as EBITDA adjusted to exclude stock-based compensation expense and warrant valuation.

These non-GAAP financial measures are provided to enhance the user’s understanding of our prospects for the future and the historical performance for the context of the investor. The Company’s management team uses these non-GAAP financial measures in assessing performance, as well as in planning and forecasting future periods. These non-GAAP financial measures are not computed according to GAAP and the methods the Company uses to compute them may differ from the methods used by other companies. Non-GAAP financial measures are supplemental, should not be considered a substitute for financial information presented in accordance with GAAP and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP.

Refer to the attached financial supplement for a reconciliation of these non-GAAP financial measures to their most directly comparable GAAP measures for the twelve months ended December 31, 2021, and 2020.

Total Stalls Installed
Volta management considers “Total Stalls” as the total size of its installed charging network at the end of the period, including Volta-owned and network partner-owned charging stations operated by Volta. Volta’s management uses Total Stalls Installed for internal network planning and forecasting purposes, including evaluating the potential Behavior and Commerce revenue generating capacity of its charging network, which is generated through delivery of content by Volta’s partners across both Volta-owned and its network partner-owned charging stalls. In addition, Total Stalls Installed provides the basis for Volta’s assessment of its charging network operations as well. Volta believes that this performance measure provides meaningful, supplemental information regarding the Volta charging network that helps illustrate trends in its business and operating performance. Volta believes that this performance measure is helpful to its investors as it is used by management in assessing the growth of the Volta charging network.

Forward-Looking Statements
This press release includes forward-looking statements, which are subject to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “anticipates,” “feels,” “believes,” expects,” “estimates,” “projects,” “intends,” “should,” “is to be,” or the negative of such terms, or other comparable terminology and include, among other things, statements regarding Volta’s strategy and other future events that involve risks and uncertainties. Such forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements contained herein due to many factors, including, but not limited to: intense competition faced by Volta in the EV charging market and in its content activities; the possibility that Volta is not able to build on and develop strong relationships with real estate and retail partners to build out its charging network and content partners to expand its content sales activities; market conditions, including seasonality, that may impact the demand for EVs and EV charging stations or content on Volta’s digital displays; risks, cost overruns and delays associated with construction and installation of Volta’s charging stations; risks associated with any future expansion by Volta into additional international markets; cost increases, delays or new or increased taxation or other restrictions on the availability or cost of electricity; rapid technological change in the EV industry may require Volta to continue to develop new products and product innovations, which it may not be able to do successfully or without significant cost; the impact of competing technologies that could reduce the demand for EVs; the risk that Volta’s shift to including a pay-for-use charging business model and the requirement of mobile check-ins adversely impacts Volta’s ability to retain driver interest, content partners and site hosts; the EV market may not continue to grow as expected; the risk that Volta may fail to effectively build scalable and robust processes to manage the growth of its business and to expand its geographic footprint; the ability to protect its intellectual property rights; and those factors discussed in Volta’s Annual Report on Form 10-K for the year ended December 31, 2021 under the heading “Risk Factors,” filed with the Securities and Exchange Commission (the “SEC”), as supplemented by other reports and documents Volta files from time to time with the SEC. Any forward-looking statements speak only as of the date on which they are made, and Volta undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.

 

Volta Inc. and Subsidiaries

Consolidated Balance Sheets

     

 

 

December 31,

 

 

2021

 

2020

 

 

(in thousands, except share data)

ASSETS

 

 

 

 

Current assets

 

 

 

 

Cash and cash equivalents

 

$

262,260

 

 

$

58,806

 

Accounts receivable, less allowance for doubtful accounts; $0 and $53.2

 

 

12,587

 

 

 

6,151

 

Inventory

 

 

2,726

 

 

 

6,152

 

Prepaid partnership costs

 

 

8,982

 

 

 

9,625

 

Prepaid expenses and other current assets

 

 

12,091

 

 

 

921

 

Total current assets

 

 

298,646

 

 

 

81,655

 

Operating lease right-of-use assets, net

 

 

76,364

 

 

 

49,434

 

Property and equipment, net

 

 

97,728

 

 

 

49,358

 

Notes receivable - employee

 

 

 

 

 

1,019

 

Other non-current assets

 

 

321

 

 

 

327

 

Intangible assets, net

 

 

643

 

 

 

 

Goodwill

 

 

221

 

 

 

 

Total assets

 

$

473,923

 

 

$

181,793

 

 

 

 

 

 

LIABILITIES

 

 

 

 

Current liabilities

 

 

 

 

Accounts payable

 

 

18,460

 

 

 

5,494

 

Accounts payable - due to related party

 

 

1

 

 

 

92

 

Accrued expenses and other current liabilities

 

 

20,168

 

 

 

21,533

 

Operating lease liability - current portion

 

 

5,952

 

 

 

7,484

 

Deferred revenue

 

 

8,450

 

 

 

7,625

 

Term loans payable - current

 

 

15,998

 

 

 

9,988

 

Warrant liability

 

 

27,071

 

 

 

698

 

Total current liabilities

 

 

96,100

 

 

 

52,914

 

Term loans payable, net of unamortized debt issuance costs and current term loan payable

 

 

23,997

 

 

 

41,032

 

Operating lease liability - non-current portion

 

 

64,422

 

 

 

37,146

 

Other non-current liabilities

 

 

7,268

 

 

 

7,004

 

Total liabilities

 

$

191,788

 

 

$

138,096

 

 

 

 

 

 

Redeemable convertible Legacy Volta Preferred Stock, Volta Inc. Preferred Stock, $0.001 par value: 10,000,000 shares authorized; no shares outstanding as of December 31, 2021, $0.001 par value: 86,845,643 shares authorized; 76,493,917 shares issued and outstanding as of December 31, 2020 (aggregate liquidation preference of $0 and $214,719,011 as of December 31, 2021, and 2020, respectively).

 

 

 

 

 

182,599

 

 

 

 

 

 

STOCKHOLDERS' (DEFICIT) EQUITY

 

 

 

 

Class A and Class B common stock, par value $0.0001 and $0.001 as of December 31, 2021 and 2020, respectively; 400,000,000 (Class A 350,000,000, Class B 50,000,000) and 152,901,000 (Class A 48,540,000, Class B 104,361,000) shares authorized; 162,105,399 (Class A 152,218,214, Class B 9,887,185) and 24,696,437 (Class A 13,185,808, Class B 11,510,629) shares issued and outstanding as of December 31, 2021, and 2020, respectively

 

 

16

 

 

 

1

 

Additional paid-in capital

 

 

710,638

 

 

 

13,233

 

Accumulated other comprehensive income

 

 

213

 

 

 

 

Accumulated deficit

 

 

(428,731

)

 

 

(152,136

)

Total stockholders’ (deficit) equity

 

 

282,136

 

 

 

(138,902

)

Total liabilities, redeemable convertible Preferred Stock, and stockholders’ (deficit) equity

 

$

473,923

 

 

$

181,793

 

Volta Inc. and Subsidiaries

Unaudited (Three months), and Audited (Twelve months) Consolidated Statements of Operations and Comprehensive Loss

         

 

 

Three Months Ended
December 31

 

Twelve Months Ended
December 31,

 

 

(in thousands, except share data)

 

 

2021

 

2020

 

2021

 

2020

REVENUES

 

 

 

 

 

 

Service revenue

 

$

10,766

 

 

$

6,813

 

 

$

29,881

 

 

$

15,720

 

Product revenue

 

 

529

 

 

 

1,429

 

 

 

1,199

 

 

 

2,892

 

Other revenue

 

 

844

 

 

 

133

 

 

 

1,231

 

 

 

839

 

Total revenues

 

 

12,139

 

 

 

8,375

 

 

 

32,311

 

 

 

19,451

 

 

 

 

 

 

 

 

 

 

COSTS AND EXPENSES

 

 

 

 

 

 

 

 

Costs of services (exclusive of depreciation and amortization shown below)

 

$

7,941

 

 

 

5,835

 

 

 

23,029

 

 

 

17,386

 

Costs of products (exclusive of depreciation and amortization shown below)

 

 

797

 

 

 

1,299

 

 

 

1,678

 

 

 

2,687

 

Selling, general and administrative

 

 

128,755

 

 

 

17,589

 

 

 

262,628

 

 

 

44,080

 

Depreciation and amortization

 

 

3,342

 

 

 

1,217

 

 

 

11,153

 

 

 

6,469

 

Other operating (income) expense

 

 

959

 

 

 

465

 

 

 

2,026

 

 

 

103

 

Total costs and expenses

 

 

141,793

 

 

 

26,406

 

 

 

300,514

 

 

 

70,725

 

Loss from operations

 

 

(129,654

)

 

 

(18,031

)

 

 

(268,203

)

 

 

(51,274

)

 

 

 

 

 

 

 

 

 

OTHER EXPENSES

 

 

 

 

 

 

 

 

Interest expense, net

 

$

1,372

 

 

 

12,579

 

 

 

6,402

 

 

 

18,274

 

Other expense, net

 

 

245

 

 

 

503

 

 

 

712

 

 

 

587

 

Change in fair value of warrant liability

 

 

(10,197

)

 

 

425

 

 

 

1,239

 

 

 

411

 

Total other expenses

 

 

(8,580

)

 

 

13,507

 

 

 

8,353

 

 

 

19,272

 

LOSS BEFORE INCOME TAXES

 

 

(121,074

)

 

 

(31,537

)

 

 

(276,556

)

 

 

(70,546

)

 

 

 

 

 

 

 

 

 

Income tax expense (benefit)

 

 

15

 

 

 

(14

)

 

 

39

 

 

 

9

 

NET LOSS

 

$

(121,089

)

 

$

(31,523

)

 

$

(276,595

)

 

$

(70,555

)

 

 

 

 

 

 

 

 

 

OTHER COMPREHENSIVE INCOME

 

 

213

 

 

 

 

 

 

213

 

 

 

 

TOTAL COMPREHENSIVE LOSS

 

$

(120,876

)

 

$

(31,523

)

 

$

(276,382

)

 

$

(70,555

)

 

 

 

 

 

 

 

 

 

Weighted-average Class A common stock outstanding, basic and diluted (Note 13 - Net Loss Per Share)

 

 

150,823

 

 

 

1,745,332

 

 

 

59,034,393

 

 

 

1,616,740

 

Net loss per Class A common stock, basic and diluted (Note 13 - Net Loss Per Share)

 

$

(0.77

)

 

$

(3.33

)

 

$

(4.10

)

 

$

(7.55

)

Weighted-average Class B common stock outstanding, basic and diluted (Note 13 - Net Loss Per Share)

 

$

9,604

 

 

 

7,733,885

 

 

 

8,393,797

 

 

 

7,733,885

 

Net loss per Class B common stock, basic and diluted (Note 13 - Net Loss Per Share)

 

$

(0.77

)

 

$

(3.33

)

 

$

(4.10

)

 

$

(7.55

)

Volta Inc. and Subsidiaries

Consolidated Statements of Cash Flows

     

 

 

Year ended December 31,

 

 

2021

 

2020

 

 

(in thousands)

Cash flows from operating activities

 

 

 

 

Net loss

 

$

(276,595

)

 

$

(70,555

)

Adjustments to reconcile net loss to net cash used in operating activities:

 

 

 

 

Reduction in the carrying amount of ROU assets

 

 

4,718

 

 

 

2,572

 

Depreciation and amortization

 

 

11,153

 

 

 

6,469

 

Stock-based compensation

 

 

173,989

 

 

 

1,903

 

Compensation expense related to secondary sale

 

 

 

 

 

3,736

 

Amortization of debt issuance costs

 

 

337

 

 

 

306

 

Non-cash interest expense

 

 

 

 

 

13,097

 

Accretion expense

 

 

195

 

 

 

87

 

Revaluation of warrant liability to estimated fair value

 

 

1,239

 

 

 

698

 

Expenses related to invoices in dispute

 

 

 

 

 

624

 

Loss on disposal of property and equipment and inventory

 

 

1,896

 

 

 

16

 

Loss on disposal of research and development equipment

 

 

 

 

 

116

 

Other

 

 

 

 

 

281

 

Changes in operating assets and liabilities:

 

 

 

 

Accounts receivable

 

 

(6,436

)

 

 

3,986

 

Inventory

 

 

2,844

 

 

 

1,859

 

Prepaid expenses and other current assets

 

 

(11,154

)

 

 

169

 

Prepaid partnership costs

 

 

(2,245

)

 

 

(4,752

)

Operating lease right-of-use asset

 

 

(30,112

)

 

 

(20,502

)

Other non-current assets

 

 

6

 

 

 

(7

)

Accounts payable

 

 

12,626

 

 

 

(13,275

)

Due to related party

 

 

(91

)

 

 

44

 

Accrued expenses and other current liabilities

 

 

(3,379

)

 

 

3,984

 

Accrued Interest

 

 

(132

)

 

 

718

 

Deferred revenue

 

 

825

 

 

 

(629

)

Lease incentive liability

 

 

(44

)

 

 

(48

)

Operating lease liability

 

 

25,744

 

 

 

16,081

 

Other noncurrent liabilities

 

 

1,350

 

 

 

(4,258

)

Net cash used in operating activities

 

$

(93,266

)

 

$

(57,280

)

 

 

 

 

 

 

 

 

 

 

Cash flows from investing activities

 

 

 

 

Purchase of property and equipment

 

 

(56,480

)

 

 

(16,905

)

Capitalization of internal-use software

 

 

(626

)

 

 

(348

)

Lease incentives received

 

 

 

 

 

605

 

Cash paid for acquisition of 2Predict

 

 

(200

)

 

 

 

Net cash used in investing activities

 

$

(57,306

)

 

$

(16,648

)

 

 

 

 

 

Cash flows from financing activities

 

 

 

 

Due from employees for taxes paid on partial recourse notes

 

 

(8,341

)

 

 

(1,019

)

Proceeds from issuance of Series D Preferred Stock

 

 

28,721

 

 

 

69,194

 

Proceeds from issuance of Series D-1 convertible notes

 

 

 

 

 

20,550

 

Proceeds from issuance of Series D-1 convertible notes - related party

 

 

 

 

 

9,600

 

Proceeds from issuance of long-term debt

 

 

 

 

24,694

 

Payments of long-term debt

 

 

(8,167

)

 

 

 

Proceeds from PPP loan

 

 

 

 

 

3,193

 

Payment of PPP Loan

 

 

(3,195

)

 

 

 

Proceeds from exercise of stock options

 

 

1,497

 

 

 

104

 

Payment of issuance costs related to Series D and D-1 Preferred Stock

 

 

(1,290

)

 

 

(3,784

)

Payment of debt issuance costs

 

 

 

 

 

(662

)

Proceeds from financing activity

 

 

 

 

 

446

 

Payment of financing activity principal

 

 

(620

)

 

 

(340

)

Proceeds from reverse recapitalization and PIPE Financing

 

 

350,146

 

 

 

 

Proceeds from exercise of common stock warrants - related party

 

 

2

 

 

 

 

Proceeds from refunds of transaction costs related to Reserve Recapitalization

 

 

4,108

 

 

 

 

Payment of transaction costs related to Reverse Recapitalization

 

 

(9,408

)

 

 

 

Net cash provided by financing activities

 

$

353,813

 

 

$

121,976

 

 

 

 

 

 

Effect of exchange rate changes on cash and cash equivalents

 

 

213

 

 

 

 

Net increase in cash and cash equivalents

 

 

203,454

 

 

 

48,048

 

Cash and cash equivalents, beginning of period

 

 

58,806

 

 

 

10,758

 

Cash and cash equivalents, end of period

 

$

262,260

 

 

$

58,806

 

 

 

 

 

 

Supplemental disclosures of cash flow information

 

 

 

 

Cash paid for interest

 

 

6,534

 

 

 

4,275

 

Cash paid for taxes

 

 

 

 

 

9

 

 

 

 

 

 

Non-cash investing and financing activities

 

 

 

 

Purchases of property and equipment not yet settled

 

 

3,657

 

 

 

4,813

 

Conversion of redeemable convertible Preferred Stock into common stock in connection with the reverse recapitalization

 

 

210,030

 

 

 

 

Initial recognition of operating lease right-of-use asset

 

 

30,612

 

 

 

21,461

 

Initial recognition of operating lease liability

 

 

29,036

 

 

 

18,077

 

Class B common stock warrants issued in satisfaction of services rendered

 

 

 

 

 

749

 

Forfeiture of shares to settle promissory notes collateralized to common stock

 

 

9,359

 

 

 

 

Cashless exercise of Legacy Volta Preferred Stock Warrants

 

 

1,944

 

 

 

Common stock issued for acquisition of 2Predict

 

 

1,220

 

 

 

 

Issuance of Series D-1 Preferred Stock in satisfaction of debt and other liabilities

 

 

 

 

 

42,021

 

Secondary sales of common stock pledged against partial recourse notes - related party

 

 

 

 

 

3,736

 

Volta Inc. and Subsidiaries
Non-GAAP Reconciliation

EBITDA and Adjusted EBITDA
The following table provides a reconciliation of EBITDA and Adjusted EBITDA to net loss, the most directly comparable U.S. GAAP measure reported in Volta’s consolidated financial statements for the following periods:

 

 

Three Months Ended
December 30,

 

 

Twelve Months Ended
December 31,

 

 

2021

 

2020

 

 

2021

 

2020

Net loss

 

$(121,089)

 

$(31,523)

 

 

$(276,595)

 

$(70,555)

Income tax expense

 

15

 

(14)

 

 

39

 

9

Interest expense, Net

 

1,372

 

12,579

 

 

6,402

 

18,274

Depreciation and amortization

 

3,342

 

1,217

 

 

11,153

 

6,469

EBITDA

 

(116,361)

 

(17,741)

 

 

(259,001)

 

(45,803)

Stock-based compensation

 

95,877

 

4,464

 

 

173,989

 

5,282

Warrant valuation

 

(10,197)

 

425

 

 

1,239

 

411

Adjusted EBITDA

 

(30,680)

 

(12,852)

 

 

(83,773)

 

(40,110)

 

For Investor/Analyst:
Katherine Bailon, VP of Investor Relations
Katherine@voltacharging.com

For Media/Press:
Jette Speights, VP of Communications
Jette@voltacharging.com

Source: Volta Inc.

 

 

 

 

 

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