Bloomberg Tax
Free Newsletter Sign Up
Bloomberg Tax
Free Newsletter Sign Up

Volta Electric-Vehicle Charging Repeats Going Concern Warning

May 13, 2022, 7:07 PM

Volta Inc. issued a going-concern warning in its latest quarterly report, a caution the electric vehicle charging company first raised in an April filing.

  • Volta warned there is “substantial doubt” about its ability to continue for next 12 months
  • Volta will need to invest in its business, and “no assurances can be provided that additional funding will be available at terms acceptable to the company,” according to 10-Q filed Friday
  • As of March 31, Volta had $476.9 million in accumulated deficit and $205.4 million in cash
  • Volta early Friday reported first-quarter revenue rose 77% to $8.4 million
  • Volta shares ...