- Shell USA, Inc. has acquired all outstanding shares of Class A common stock of Volta for an equity purchase price of approximately USD $169 million / $0.86/share in cash. (Mar 31, 2023)
NEW YORK, November 14, 2022--(BUSINESS WIRE)--Volta Inc. (NYSE: VLTA, VLTA WS) ("Volta" or the "Company"), an industry-leading electric vehicle ("EV") charging and media company, today announced financial results for its third quarter ended September 30, 2022.
Third quarter revenue increased 69% year-over-year to $14.4 million
Record media revenue of $12.2 million, an increase of 9% quarter-over-quarter and 66% year-over-year
Volta’s network of installed charging stalls was 3,093 as of September 30, 2022, adding 173 charging stalls, up 6% quarter-over-quarter and up 45% year-over-year
Volta Media™ Network surpassed 5,700 screens and one billion monthly media impressions; new advertisers included Google, Neiman Marcus, FIJI Water, Peacock, and Capital One; repeat advertisers included Jeep, Target, Disney, Bank of America, and Coca-Cola
Volta reduced run-rate cash SG&A by 43%, which included a 54% reduction of U.S. full-time headcount
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