– Enterprise Expects to Report Fourth Quarter and Total 12 months 2021 Profits of about $12 Million and $32 Million, respectively –
– Expects First Quarter 2022 Earnings to Selection from $8 million to $8.5 Million –
– Provides Whole Calendar year 2022 Income Outlook of $70 million to $80 Million –
– Expects Type 10-K Submitting to be Delayed –
SAN FRANCISCO, April 01, 2022–(Company WIRE)–Volta Inc. (“Volta” or the “Business”) (NYSE: VLTA), an field primary world-wide EV charging community, powering automobiles and commerce, right now declared preliminary revenues of about $12 million for its fourth quarter 2021, up 45% year-around-yr, and revenues of $32 million for the full calendar year finished December 31, 2021, up 66% year-more than-calendar year. Complete stalls connected as of December 31, 2021 was 2,330.
In addition, the Business expects 1st quarter 2022 revenues to selection from $8 million to $8.5 million. For whole 12 months 2022, the Corporation anticipates revenues to variety from $70 million to $80 million. Volta expects 2022 profits to be increased in the second fifty percent of the yr, as a reflection of the developing scale of our network and accompanying seasonal media profits styles. For 2022, the Organization expects full incremental, connected stalls in the assortment of 1,700 to 2,000.
Owing to supplemental time demanded to comprehensive its calendar year-stop reporting method and file its Yearly Report on Form 10-K for the fiscal year finished December 31, 2021, Volta expects to file a Notification of Late Filing on Form 12b-25. On completion of the filing of Type 10-K, the Corporation anticipates holding an trader get in touch with.
About Volta Inc.
Volta Inc. (NYSE: VLTA) is a main world wide EV charging community, powering vehicles and commerce. Volta Charging’s vision is to create EV charging networks that capitalize on and catalyze the change from combustion-driven miles to electric powered miles by positioning stations exactly where individuals stay, operate, store and participate in. By leveraging a facts-driven understanding of driver actions to produce EV charging options that in shape seamlessly into drivers’ every day routines, Volta Charging’s objective is to profit individuals, manufacturers and genuine-estate places though serving to to develop the infrastructure of the potential. As element of Volta Charging’s exceptional EV charging providing, its stations let it to improve its website hosts’ and strategic partners’ main professional passions, creating a new implies for them to benefit from the transformative change to electric mobility. To master extra, go to www.voltacharging.com.
This press release incorporates ahead-on the lookout statements, which are issue to the “protected harbor” provisions of the U.S. Non-public Securities Litigation Reform Act of 1995. These statements may be recognized by text these kinds of as “anticipates,” “feels,” “believes,” expects,” “estimates,” “assignments,” “intends,” “need to,” “is to be,” or the adverse of these kinds of terms, or other comparable terminology and consist of, between other things, statements concerning Volta’s technique and other potential gatherings that contain hazards and uncertainties. These ahead-looking statements are not assures of upcoming functionality and are subject to hazards and uncertainties, which could result in precise results to differ materially from the ahead-wanting statements contained herein owing to several components, such as, but not confined to: rigorous levels of competition faced by Volta in the electric powered car or truck (“EV”) charging sector and in its material things to do the possibility that Volta is not able to establish on and establish powerful relationships with serious estate and retail companions to create out its charging network and material companions to broaden its articles sales routines current market problems, which includes seasonality, that may well impression the demand from customers for EVs and EV charging stations or material on Volta’s electronic shows the capacity of Volta to proficiently retain senior management and execute on its company technique hazards, price overruns and delays involved with design and installation of Volta’s charging stations hazards involved with any future expansion by Volta into additional global markets charge boosts, delays or new or improved taxation or other constraints on the availability or cost of energy swift technological modify in the EV industry may perhaps have to have Volta to continue on to establish new products and merchandise innovations, which it may possibly not be ready to do efficiently or devoid of significant charge the effect of competing technologies that could reduce the demand for EVs the risk that Volta’s change to such as a pay-for-use charging business enterprise product and the requirement of cellular look at-ins adversely impacts Volta’s capacity to retain driver interest, content material companions and web page hosts the EV industry may possibly not keep on to increase as envisioned the possibility that Volta may possibly fail to properly create scalable and robust procedures to control the expansion of its organization and to broaden its geographic footprint the means to safeguard its intellectual property legal rights and those people elements talked about in Volta’s Quarterly Report on Variety 10-Q less than the heading “Chance Aspects,” submitted with the Securities and Trade Fee (the “SEC”), as supplemented by other reports and documents Volta documents from time to time with the SEC. Any forward-hunting statements discuss only as of the date on which they are created, and Volta undertakes no obligation to update any ahead-hunting assertion to mirror functions or situations soon after the day of this push release.
See source model on businesswire.com: https://www.businesswire.com/news/house/20220331006071/en/