- Volta Inc (NYSE:VLTA) reported first-quarter FY22 sales growth of 77% year-on-year to $8.39 million, beating the consensus of $8.28 million.
- Media revenue increased 73% Y/Y to $6.1 million.
- Selling, general and administrative expenses jumped 159% Y/Y to $39.7 million.
- The operating loss for the quarter narrowed to $(61.5) million versus a loss of $(63.4) million last year.
- The company held $205.4 million in cash and equivalents as of March 31, 2022.
- Adjusted EBITDA loss expanded to $(41.4) million compared to a loss of $(15.9) million the previous year.
- EPS loss of $(0.28) beat the analyst consensus of $(0.29).
- Outlook: Volta sees FY22 sales of $70 million - $80 million versus the consensus of $72.4 million.
- It expects Q2 sales of $13 million - $14 million versus the consensus of $13.95 million.
- Price Action: VLTA shares are trading higher by 18.1% at $2.19 on the last check Friday.
