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No Longer Reporting

The company has not filed an annual or quarterly report since its FY2022 10-K, filed Mar 31, 2023. Its latest SEC filing is a 15-12G from Apr 11, 2023.

The sections below describe the company as of the FY2022 annual report.

What Did They Do?

Operates electric-vehicle charging stations at public commercial locations and sells advertising on station displays to advertisers, alongside charging and related services for site hosts and business partners.

How Did They Make Money?

Advertisers pay for delivered ad impressions over a campaign term; site partners pay for installation as work progresses and equipment when delivered, with bills in advance or by milestones and maintenance billed quarterly. Volta also earns revenue by selling regulatory credits and charges software customers recurring access fees.

revenue
SegmentShareRevenue
Service
97%
Product
Sold outright
0.7%
Other
Mix
2.6%

Who Were Their Customers?

Retail and commercial property owners, communities, municipalities and local businesses host Volta’s stations; advertisers buy display campaigns, while utility companies and other third parties access its software. Volta works directly with site partners and commercial partners.

Customers above 10% of revenue, FY2022
of revenue from two customers (21%, 16%)
FY2021: 40% from two customers

Did Revenues Turn Into Profits?

No. It lost $154.6M in FY2022.

Operating income, FY2022
−315% of revenue
▲ +36% (Loss) vs FY2021 (−$268.2M, −830%)
Net income, FY2022
−283% of revenue
▲ +44% (Loss) vs FY2021 (−$276.6M, −856%)
Free cash flow, FY2022
−393% of revenue
▼ −43% (Loss) vs FY2021 (−$149.7M, −463%)

How Were They Changing?

Revenue over time
Service Product Other
$100M$50M$0

Who Did They Compete With?

Competes with EVgo Services, Electrify America, Allego, Tesla, Rivian Automotive, Pod Point, EVConnect, Power Dot SA, SemaConnect, Engie SA, ChargePoint, EVBox Group, FLO Services USA, Revel Transit, Blink Charging, IONITY GmbH, EDF Group, Outfront Media, Amscreen, and Clear Channel Outdoor

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