Volta (VLTA) 10-K 31 Mar 23 2022 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Mar. 27, 2023	Jun. 30, 2022
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-39508
Entity Registrant Name	Volta Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	35-2728007
Entity Address, Address Line One	155 De Haro Street
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94103
City Area Code	888
Local Phone Number	264-2208
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Public Float			$ 200.2
Entity Central Index Key	0001819584
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Amendment Flag	false
Class A common stock, par value of $0.0001 per share
Entity Information [Line Items]
Title of 12(b) Security	Class A common stock, par value of $0.0001 per share
Trading Symbol	VLTA
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding		175,786,686
Warrants, each exercisable for one share of Class A common stock for $11.50 per share
Entity Information [Line Items]
Title of 12(b) Security	Warrants, each exercisable for one share of Class A common stock for $11.50 per share
Trading Symbol	VLTA WS
Security Exchange Name	NYSE
Class B Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		0

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2022
Audit Information [Abstract]
Auditor Name	Grant Thornton LLP
Auditor Location	San Francisco, California
Auditor Firm ID	248

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 2,642	$ 262,260
Accounts receivable, less allowance for doubtful accounts; $42 and $0	16,749	12,587
Inventory	2,132	2,726
Prepaid partnership costs	8,360	8,982
Prepaid expenses and other current assets	8,383	12,091
Total current assets	38,266	298,646
Operating lease right-of-use assets, net	93,630	76,364
Property and equipment, net	207,346	97,728
Other non-current assets	674	321
Intangible assets, net	1,175	643
Goodwill	221	221
Total assets	341,312	473,923
Current liabilities
Accounts payable	46,998	18,461
Accrued expenses and other current liabilities	19,445	20,168
Operating lease liability - current portion	9,533	5,952
Deferred revenue	13,584	8,450
Term loans payable - current	12,483	15,998
Warrant liability	386	27,071
Total current liabilities	102,429	96,100
Term loans payable, net of unamortized debt issuance costs and current term loan payable	0	23,997
Operating lease liability - non-current portion	79,075	64,422
Other non-current liabilities	8,484	7,268
Total liabilities	189,988	191,787
STOCKHOLDERS' EQUITY
Class A and Class B common stock, par value $0.0001 and $0.0001, respectively: 400,000,000 (Class A 350,000,000, Class B 50,000,000) shares authorized as of each of December 31, 2022 and 2021; 174,198,246 (Class A 174,198,246, Class B 0) and 162,105,399 (Class A 152,218,214, Class B 9,887,185) shares issued and outstanding as of December 31, 2022 and 2021, respectively	18	16
Additional paid-in capital	734,146	710,638
Accumulated other comprehensive income	524	213
Accumulated deficit	(583,364)	(428,731)
Total stockholders' equity	151,324	282,136
Total liabilities and stockholders’ equity	$ 341,312	$ 473,923

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Allowance for doubtful accounts	$ (42)	$ 0
Common stock, shares authorized (in shares)	400,000,000	400,000,000
Common stock, shares issued (in shares)	174,198,246	162,105,399
Common stock, shares outstanding (in shares)	174,198,246	162,105,399
Class A Common Stock
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	350,000,000	350,000,000
Common stock, shares issued (in shares)	174,198,246	152,218,214
Common stock, shares outstanding (in shares)	174,198,246	152,218,214
Class B Common Stock
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares issued (in shares)	0	9,887,185
Common stock, shares outstanding (in shares)	0	9,887,185

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
REVENUES
Total revenues	$ 54,600	$ 32,311
COSTS AND EXPENSES
Selling, general and administrative	165,328	262,628
Depreciation and amortization	19,280	11,153
Other operating expense	2,877	2,026
Total costs and expenses	226,674	300,514
Loss from operations	(172,074)	(268,203)
OTHER EXPENSE (INCOME)
Interest expense, net	5,535	6,402
Other expense, net	0	712
Change in fair value of warrant liability	(22,978)	1,239
Total other expense (income)	(17,443)	8,353
LOSS BEFORE INCOME TAXES	(154,631)	(276,556)
Income tax expense	2	39
NET LOSS	(154,633)	(276,595)
OTHER COMPREHENSIVE INCOME
Foreign currency translation adjustment	311	213
TOTAL COMPREHENSIVE LOSS	(154,322)	(276,382)
Class A Common Stock
OTHER EXPENSE (INCOME)
NET LOSS	$ (150,505)	$ (242,163)
OTHER COMPREHENSIVE INCOME
Weighted-average Common Stock outstanding, basic (Note 13 - Net Loss Per Share) (in shares)	165,762,888	59,034,393
Weighted-average Common Stock outstanding, diluted (Note 13 - Net Loss Per Share) (in shares)	165,762,888	59,034,393
Net loss per Common Stock, basic (Note 13 - Net Loss Per Share) (in dollars per share)	$ (0.91)	$ (4.10)
Net loss per Common Stock, diluted (Note 13 - Net Loss Per Share) (in dollars per share)	$ (0.91)	$ (4.10)
Class B Common Stock
OTHER EXPENSE (INCOME)
NET LOSS	$ (4,128)	$ (34,432)
OTHER COMPREHENSIVE INCOME
Weighted-average Common Stock outstanding, basic (Note 13 - Net Loss Per Share) (in shares)	4,545,964	8,393,797
Weighted-average Common Stock outstanding, diluted (Note 13 - Net Loss Per Share) (in shares)	4,545,964	8,393,797
Net loss per Common Stock, basic (Note 13 - Net Loss Per Share) (in dollars per share)	$ (0.91)	$ (4.10)
Net loss per Common Stock, diluted (Note 13 - Net Loss Per Share) (in dollars per share)	$ (0.91)	$ (4.10)
Service
REVENUES
Total revenues	$ 52,767	$ 29,881
COSTS AND EXPENSES
Costs (exclusive of depreciation and amortization shown below)	38,749	23,029
Product
REVENUES
Total revenues	398	1,199
COSTS AND EXPENSES
Costs (exclusive of depreciation and amortization shown below)	440	1,678
Other
REVENUES
Total revenues	$ 1,435	$ 1,231

Consolidated Statements of Chan

Consolidated Statements of Changes in Redeemable Convertible Preferred Stock and Stockholders' Deficit - USD ($) $ in Thousands	Total	Redeemable Convertible Preferred Stock	Redeemable Convertible Preferred Stock Series D	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income	Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2020		76,494,000
Beginning balance at Dec. 31, 2020		$ 182,599
Increase (Decrease) in Temporary Equity [Roll Forward]
Issuance of Series D preferred stock (in shares)			4,722,000
Issuance of Series D preferred stock			$ 13,721
Issuance of Series D preferred stock - related party			15,000
Issuance Costs - Series D			$ (1,290)
Reverse recapitalization (in shares)		(81,216,000)
Reverse recapitalization		$ (210,030)
Ending balance (in shares) at Dec. 31, 2021		0
Ending balance at Dec. 31, 2021		$ 0
Beginning balance (in shares) at Dec. 31, 2020				24,696,000
Beginning balance at Dec. 31, 2020	$ (138,902)			$ 1	$ 13,233	$ 0	$ (152,136)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of restricted stock awards - related party (in shares)				6,917,000
Issuance of restricted stock awards - related party	40,237			$ 1	40,236
Reverse recapitalization (in shares)				81,216,000
Reverse recapitalization	210,038			$ 8	210,030
TAC shares recapitalized, net of redemptions and equity issuance costs (in shares)				48,907,000
TAC shares recapitalized, net of redemptions and equity issuance costs	327,129			$ 5	327,124
Transaction costs related to reverse recapitalization	(9,048)				(9,048)
Recognition of exercise of options, net of forfeiture of shares, upon settlement of promissory notes (in shares)				(1,983,000)
Recognition of exercise of options, net of forfeiture of shares, upon settlement of promissory notes	$ (9,368)				(9,368)
Issuance of common stock upon exercise of options (in shares)	12,796,353			1,545,000
Issuance of common stock upon exercise of options	$ 1,509			$ 1	1,508
Issuance of common stock upon net exercise of warrant (in shares)				254,000
Issuance of common stock upon net exercise of warrant	1,948				1,948
Stock-based compensation expense - options	133,753				133,753
Issuance of common stock upon exercise of warrants - related party (in shares)				371,000
Issuance of common stock upon exercise of warrants - related party	2				2
Issuance of common stock for acquisitions (in shares)				182,000
Issuance of common stock for acquisitions	1,220				1,220
Other comprehensive income	213					213
Net loss	(276,595)						(276,595)
Ending balance (in shares) at Dec. 31, 2021				162,105,000
Ending balance at Dec. 31, 2021	$ 282,136			$ 16	710,638	213	(428,731)
Ending balance (in shares) at Dec. 31, 2022		0
Ending balance at Dec. 31, 2022		$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of options (in shares)	1,743,072			1,535,000
Issuance of common stock upon exercise of options	$ 894				894
Issuance of common stock upon equity offering (in shares)				4,251,000
Issuance of common stock upon equity offering	4,508			$ 1	4,507
Issuance of common stock upon release of vested restricted stock units (in shares)				885,000
Stock-based compensation expense (in shares)				0
Stock-based compensation expense - options	30,586				30,586
Issuance of common stock upon the settlement of vested restricted stock units, net of shares withheld for taxes (in shares)				5,343,000
Issuance of common stock upon the settlement of vested restricted stock units, net of shares withheld for taxes	(16,554)			$ 1	(16,555)
Issuance of common stock for acquisitions (in shares)				150,000
Issuance of common stock for acquisitions	369				369
Change in warrant classification from liability to equity	3,707				3,707
Forfeiture of shares to settle promissory notes (in shares)				(71,000)
Other comprehensive income	311					311
Net loss	(154,633)						(154,633)
Ending balance (in shares) at Dec. 31, 2022				174,198,000
Ending balance at Dec. 31, 2022	$ 151,324			$ 18	$ 734,146	$ 524	$ (583,364)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities
Net loss	$ (154,633)	$ (276,595)
Adjustments to reconcile net loss to net cash used in operating activities:
Reduction in the carrying amount of ROU assets	11,511	4,718
Depreciation and amortization	19,280	11,153
Stock-based compensation	30,015	173,989
Amortization of debt issuance costs	398	337
Accretion expense	198	195
Revaluation of warrant liability to estimated fair value	(22,978)	1,239
Loss on disposal of property and equipment and inventory	3,679	1,896
Changes in operating assets and liabilities:
Accounts receivable	(4,086)	(6,436)
Inventory	594	2,844
Prepaid expenses and other current assets	3,408	(11,154)
Prepaid partnership costs	(700)	(2,245)
Operating lease right-of-use asset	(448)	(1,076)
Other non-current assets	(353)	6
Accounts payable	21,725	8,985
Due to related party	0	(91)
Accrued expenses and other current liabilities	(24,268)	(1,538)
Deferred revenue	4,444	825
Lease incentive liability	5	(44)
Operating lease liability	(9,409)	(3,292)
Other noncurrent liabilities	4,462	1,350
Net cash used in operating activities	(117,156)	(94,934)
Cash flows from investing activities
Purchase of property and equipment	(97,352)	(54,812)
Capitalization of internal-use software	(4,711)	(626)
Cash paid for acquisition of 2Predict	0	(200)
Acquisition of OpConnect patent	(875)	0
Net cash used in investing activities	(102,938)	(55,638)
Cash flows from financing activities
Due from employees for taxes paid on partial recourse notes	0	(8,341)
Proceeds from issuance of Series D Preferred Stock	0	28,721
Payment of short-term debt	(4,083)	0
Payment of long-term debt	(12,250)	(8,167)
EIP Loan reimbursement	(11,577)	0
Payment of PPP Loan	0	(3,195)
Proceeds from exercise of stock options	894	1,497
Payment of issuance costs related to Series D and D-1 Preferred Stock	0	(1,290)
Proceeds from issuance of common stock upon equity offering, net of fees	4,508	0
Payment of financing activity principal	(774)	(620)
Proceeds from Reverse Recapitalization and PIPE Financing	0	350,146
Proceeds from exercise of common stock warrants - related party	0	2
Taxes paid related to net share settlement of equity awards	(16,554)	0
Proceeds from refunds of transaction costs related to Reverse Recapitalization	0	4,108
Payment of transaction costs related to Reverse Recapitalization	0	(9,048)
Net cash (used in) provided by financing activities	(39,836)	353,813
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	312	213
Net increase in cash and cash equivalents	(259,618)	203,454
Cash and cash equivalents, beginning of period	262,260	58,806
Cash and cash equivalents, end of period	2,642	262,260
Supplemental disclosures of cash flow information
Cash paid for interest	5,155	6,534
Non-cash investing and financing activities
Purchases of property and equipment not yet settled	39,545	10,136
Conversion of redeemable convertible Preferred Stock into common stock in connection with the Reverse Recapitalization	0	210,030
Initial recognition of operating lease right-of-use asset	0	30,612
Change in warrant classification from liability to equity	3,707	0
ROU assets obtained in exchange for operating lease liabilities	27,644	29,036
Class B common stock warrants issued in satisfaction of services rendered	0	0
Forfeiture of shares to settle promissory notes collateralized to common stock	0	9,359
Cashless exercise of Legacy Volta Preferred Stock Warrants	0	1,944
Common stock issued for acquisition of 2Predict	0	1,220
Issuance of common stock for patent acquisition	369	0
Stock-based compensation capitalized to internal-use software	$ 571	$ 0

Description of Business

Description of Business	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Note 1 - Description of Business Volta Inc. is a holding company for its wholly-owned subsidiaries, Volta Charging Industries, LLC, Volta Charging, LLC, Volta Charging Services, LLC, Volta Canada Inc., Volta Charging Germany GmbH, Volta France SARL, and Volta Media, LLC (inactive) (collectively, the “Company” or “Volta”). The new wholly owned subsidiaries, Rakko Holding B.V. and Volta Rakko B.V. were incorporated on August 22, 2022 and September 3, 2022, respectively. The Company is headquartered in San Francisco, California. The Company operates a network of smart media-enabled charging stations for electric vehicles across the U.S. In addition, the Company utilizes the network to decarbonize the transportation sector and accelerate electric vehicle adoption by providing sponsored charging to drivers. Revenue is derived primarily by selling paid content on the media-enabled charging station network, installing and maintaining charging stations. On August 26, 2021, Tortoise Corp II consummated the Reverse Recapitalization contemplated by the Business Combination Agreement, by and among Tortoise Corp II, SNPR Merger Sub I, Inc., SNPR Merger Sub II, LLC, and Legacy Volta. On the Closing Date, and in connection with the Closing (the "Business Combination"), Tortoise Corp II was renamed Volta Inc. and began trading on the NYSE under the ticker symbol “VLTA”. The Company's Public Warrants also trade on the NYSE under the ticker symbol “VLTA WS”. On September 12, 2022, the Company filed a registration statement on Form S-3 (File No. 333-267374) with the SEC (declared effective by the SEC on September 20, 2022) which permits the Company to offer up to 500 million shares of Class A common stock, preferred stock, depository shares, debt securities, warrants and rights in one or more offerings and in any combination, including in units from time to time. As part of the Shelf Registration Statement, the Company filed a prospectus supplement registering for sale from time to time up to 150 million shares of our Class A common stock, par value $0.0001 per share, in “at-the-market” offerings pursuant to a Controlled Equity Offering Sales Agreement SM (the “Sales Agreement”) entered into on September 26, 2022, with a designated sales agent. As of December 31, 2022, the Company received $4.9 million of net proceeds from the sale and issuance of 4,251,284 shares of Class A common stock under the Sales Agreement, resulting in $0.4 million of equity issuance costs.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2 - Summary of Significant Accounting Policies Basis of presentation and consolidation The accompanying consolidated financial statements have been prepared in conformity with GAAP and include the accounts and operations of Volta Inc. and its wholly-owned subsidiaries. Volta Charging, LLC is the primary U.S. operating subsidiary of the Company. All intercompany accounts and transactions have been eliminated upon consolidation. Use of estimates The preparation of consolidated financial statements in conformity with Generally Accepted Accounting Principles ("GAAP") requires the Company to make estimates, judgments and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Significant items subject to management’s estimates and assumptions include, but are not limited to, assumptions underlying the determination of the stand-alone selling (“SSP”) prices for performance obligations within revenue arrangements, the fair value of consideration payable to a customer in revenue arrangements, allowance for doubtful accounts, inventory valuation, stock-based compensation, tax valuation allowance, warrant valuation, incremental borrowing rate for right-of-use (“ROU”) assets and lease liabilities, lease term, the valuation and useful lives of property and equipment, goodwill and intangibles, term loan payable, and the valuation of assets acquired and liabilities assumed for the Reverse Recapitalization. Segment reporting For the years ended December 31, 2022 and 2021, the Company was managed as one operating segment as we only report financial information on an aggregate and consolidated basis to the interim CEO, our Chief Operating Decision Maker (“CODM”), who regularly reviews financial operating results on a consolidated basis for purposes of allocating resources and evaluating financial performance. Although the Company has different revenue streams, the CODM managed the Company as a whole and made decisions at the consolidated level. There are no segment managers who are held accountable for operations, operating results, and plans for components or types of products or services below the consolidated unit level. As of December 31, 2022, a substantial portion of our long-lived assets were located in the United States and a majority of our revenue was earned in the United States. Reclassifications Certain prior period amounts have been reclassified to conform to current period presentation. These reclassifications have no material effect on previously reported results of operations or loss per share. Cash, cash equivalents, and restricted cash Cash and cash equivalents include on-demand deposits with banks and a mutual fund, respectively, for which cost approximates the fair value and restricted cash. As of December 31, 2022 and December 31, 2021, there was $0 and $0.1 million restricted cash, respectively, held in escrow related to payments to contractors. Accounts receivable and allowance for doubtful accounts Accounts receivable primarily include amounts related to receivables from our sales of media and installation of stations. We provide an allowance against accounts receivable for the amount we expect to be uncollectible. We write-off accounts receivable against the allowance when they are deemed uncollectible. Unbilled receivables result from amounts recognized as revenues but not yet invoiced as of the consolidated balance sheet date. The Company had $0.8 million in unbilled receivables as of December 31, 2022 and 2021 related to network development revenue, which are included in the accounts receivable balance on the accompanying consolidated balance sheets. The Company recorded $42 thousand allowance for doubtful accounts in the year ended December 31, 2022. The Company had no allowance for doubtful accounts in the year ended December 31, 2021. Concentration of risk Financial instruments that potentially subject the Company to a concentration of credit risk consist primarily of cash and accounts receivable. The Company’s cash is held on deposit with high-credit quality financial institutions. Such deposits may at times exceed federally insured limits. The Company has not experienced losses in accounts. As of December 31, 2022, four customers accounted for 22.0%, 13.0%, 13.0%, and 11.0% of the Company's accounts receivable balance, respectively. As of December 31, 2021, three customers accounted for 30.5%, 22.0% and 18.7% of the Company's accounts receivable balance, respectively. For the year ended December 31, 2022, two customers accounted for 21.3% and 16.2% of the Company's revenue, respectively. For the year ended December 31, 2021, two customers accounted for 27.4% and 12.1% of the Company's revenue, respectively. Revenue generated by these customers arises from a portfolio of contracts with multiple, separate, legal entities. The Company mainly mitigates concentration risk as all contracts are executed with these separate, legal entities. As of both December 31, 2022 and December 31, 2021, no vendor accounted for more than 10% of the Company's accounts payable orders. The Company mitigates concentration risk by maintaining contracts and agreements with alternative suppliers and is actively expanding its supplier network. Fair value of financial instruments The Company evaluates the fair value measurements of all financial assets and liabilities. Fair value is an exit price representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. A three-tiered hierarchy is established as a basis for considering such assumptions and for inputs used in the valuation methodologies in measuring fair value. This hierarchy requires that the Company use observable market data, when available, and minimize the use of unobservable inputs when determining fair value: • Level 1, observable inputs such as quoted prices in active markets; • Level 2, inputs other than the quoted prices in active markets that are observable either directly or indirectly; • Level 3, unobservable inputs in which there is little or no market data, which requires that the Company develop its own assumptions. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company's assessment of the significance of a particular input to the fair value measurements requires judgment and may affect the valuation of the assets and liabilities being measured and their placement within the fair value hierarchy. Foreign currency The functional currency of our foreign subsidiaries is the local currency or U.S. dollar depending on the nature of the subsidiaries' activities. Monetary assets and liabilities, and transactions denominated in currencies other than the functional currency are remeasured to the functional currency at the exchange rate in effect at the end of the period and are recorded in the current period consolidated statement of operations and comprehensive loss. Gains and losses resulting from remeasurement are recorded in foreign exchange gains (losses), net within other expense, net in the accompanying consolidated statement of operations and comprehensive loss. Subsidiary assets and liabilities with non-U.S. dollar functional currencies are translated at the month-end rate, retained earnings and other equity items are translated at historical rates, and revenues and expenses are translated at average exchange rates during the year. Cumulative translation adjustments are recorded within accumulated other comprehensive income, a separate component of total shareholders' (deficit) equity. Inventory Inventory consists of finished goods in the form of assembled charging stations. Inventory is measured using the first-in, first-out (“FIFO”) method and stated at the lower of cost or net realizable value as of December 31, 2022 and 2021. The value of inventories is reduced by estimates for excess and obsolete inventories. The estimate for excess and obsolete inventories is based upon management’s review of utilization of inventories in light of projected sales, current market conditions, and market trends. The Company monitors inventory to identify events that would require impairment due to obsolete inventory and adjusts the value of inventory when required. Inventory losses of $0.6 million were incurred during both the years ended December 31, 2022 and 2021. Property and equipment Property and equipment are stated at cost, less accumulated depreciation and amortization. The cost of maintenance and repairs is expensed as incurred, and expenditures that extend the useful lives of assets are capitalized. Charging stations, digital media screens, capitalized research and development equipment, computers and equipment, and furniture are depreciated and amortized using the straight-line method over the estimated useful lives of the respective assets. Leasehold improvements are depreciated using the straight-line method over the shorter of the estimated useful lives of the assets or the lease term, ranging from two Asset Useful Lives (In Years) Charging stations and digital media screens 5-10 Capitalized research and development equipment 2-5 Computers and equipment 3-5 Furniture 5 Leasehold improvements 2-5 Capitalized software 3 Construction in progress includes all costs capitalized related to projects, primarily related to installation of assets that have yet to be placed in service and in-process engineering activities. When assets are retired or otherwise disposed of, the cost and accumulated depreciation or amortization are removed from the consolidated balance sheets, and any resulting gain or loss is reflected in the consolidated statements of operations and comprehensive loss in the period realized. For the years ended December 31, 2022 and 2021, losses of $3.6 million and $1.9 million, respectively, related to construction in progress that was damaged or abandoned were recognized in other operating expenses in the accompanying consolidated statements of operations and comprehensive loss. Capitalization of software costs and software implementation costs in a cloud computing arrangement The Company accounts for the costs of software developed for internal use by capitalizing costs incurred during the application development stage to property and equipment, net on the accompanying consolidated balance sheets. Costs related to preliminary project activities and post-implementation activities are expensed as incurred. The Company amortizes the capitalized costs of internal-use software on a straight-line basis over the estimated useful lives of the assets. The Company recognizes the amortization in depreciation and amortization in the accompanying consolidated statements of operations and comprehensive loss. The Company capitalizes qualified implementation costs incurred in a cloud computing or hosting arrangement that is a service contract for which it is the customer. These capitalized implementation costs are recorded within property and equipment, net, on the consolidated balance sheets and are amortized over the fixed, non-cancellable term of the associated hosting arrangement or the estimated useful life of the asset on a straight-line basis. Costs incurred during the preliminary project stage, and post-implementation activities, are expensed as incurred. Impairment of long-lived assets and intangibles Intangible assets with finite lives are amortized over their useful lives and reported net of accumulated amortization. The Company evaluates its long-lived assets and intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The recoverability of assets to be held and used is assessed by a comparison of the carrying amount of an asset to future net cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured as the amount by which the carrying amount of the assets exceeds the fair value of the assets. Although the Company has accumulated losses, the Company believes that the future cash flows will be sufficient to exceed the carrying value of the Company’s long-lived and intangible assets. As of December 31, 2022 and 2021, the Company determined that no events or changes in circumstances existed that would otherwise indicate any impairment of its long-lived or intangible assets. Goodwill Goodwill represents the excess of the cost of an acquired entity over the fair value of the acquired net assets. The Company accounts for goodwill in accordance with Accounting Standards Update (“ASU”) 350, Intangibles - Goodwill and Other Intangible assets , which among other things, addresses financial accounting and reporting requirements for acquired goodwill and other intangible assets having indefinite useful lives. ASC 350 requires goodwill to be carried at cost, prohibits the amortization of goodwill and requires the Company to test goodwill for impairment at least annually. Volta evaluates its goodwill for impairment annually, in the fourth quarter, or more frequently if impairment indicators are present. A qualitative assessment is performed to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of the reporting unit is less than its carrying amount. If, based on the evaluation, it is determined to be more likely than not that the fair value is less than the carrying value, then the goodwill is tested further for impairment. If the implied fair value of goodwill is lower than its carrying amount, an impairment loss is recognized in an amount equal to the difference. There was no impairment of goodwill for the year ended December 31, 2022. Leases The Company accounts for leases in accordance with ASC 842, Leases . The lease liabilities and corresponding ROU assets are recognized on the consolidated balance sheets. The Company determines if an arrangement contains a lease at inception. The Company recognizes an ROU asset and a lease liability at the lease commencement date for operating leases with terms greater than 12 months. ROU assets represent the Company's right to use an underlying asset for the lease term, and lease liabilities represent the obligation to make lease payments arising from the lease . The initial measurement of ROU assets is comprised of the initial amount of the lease liability, adjusted for lease payments made at or before the lease commencement date, plus any initial direct costs incurred, less any lease incentives received. ROU assets are subsequently measured throughout the lease term at the carrying amount of the lease liability, plus any initial direct costs, plus (less) any prepaid (accrued) lease payments, less the unamortized balance of lease incentives received. The lease expense is recognized on a straight-line basis over the lease term. The Company does not have material financing leases as of December 31, 2022. The interest rate used to determine the present value of the future lease payments is the Company's incremental borrowing rate as the Company generally cannot determine the implicit rate because it does not have access to the lessor's residual value or the amount of the lessor's deferred initial costs. The incremental borrowing rate is the interest rate the Company would have to pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms. Lease terms include the noncancellable period of the lease plus any additional periods covered by either an option to extend (or not to terminate) the lease that the Company is reasonably certain to exercise, or an option to extend (or not to terminate) the lease controlled by the lessor. Variable lease payments associated with the Company's leases are recognized when the event, activity, or circumstance in the lease agreement on which those payments are assessed occurs. Variable lease payments are recognized in other operating (income) expenses in the consolidated statements of operations and comprehensive loss. The Company identifies separate lease and non-lease components within the contract. Non-lease components primarily include payments for electricity reimbursements made to the landlord. The Company has elected the practical expedient to combine lease and non-lease payments and account for them together as a single lease component, which increases the amount of the Company's ROU assets and lease liabilities. During the fourth quarter of 2021, Volta changed the calculation of the short-term lease liability from a method that determines the short-term liability, net of interest, on a monthly basis to a method that determines the balance on a yearly basis, resulting in a decreased short-term liability balance and increased long-term liability balance. Diversity in practice exists in the absence of specific guidance on the method of calculating the short-term liability under ASC 842, and both the former and current approaches are considered acceptable. The impact from this change arises due to some monthly payments, net of interest, falling below zero and out of short-term liability classification, while those amounts would be included in short-term liability in an annual calculation of payments, net of interest. While the short-term and long-term lease liability balances are impacted by the change, the impact extends to classification and presentation only, and the total lease liability remains the same. This change is due to the implementation of a new lease accounting system in Q4 2021 and is considered a change in accounting methodology that does not have a material impact on our consolidated financial statements. We applied this change prospectively in accordance with GAAP. Debt issuance costs The Company accounts for the costs incurred in connection with borrowings under financing facilities as deferred and amortized over the life of the related financing on a straight-line basis which approximates the effective interest method. During the years ended December 31, 2022 and 2021, the Company deferred and capitalized costs related to the issuance of the term loans approximating $0.6 million and $0, respectively, and amortized $0.4 million and $0.3 million for the years ended December 31, 2022 and 2021, respectively, of deferred debt issuance costs as interest expense, net, in the accompanying consolidated statements of operations and comprehensive loss (see Note 9 - Debt Facilities). Equity issuance costs Transaction costs related to issuing an equity instrument are accounted for as equity issuance costs and presented as a deduction from the carrying value of the equity instrument. Equity issuance costs are a reduction to the proceeds allocated to the equity component. For the year ended December 31, 2021, the Company raised $28.7 million through sales of Legacy Volta Series D Preferred Stock, resulting in $1.3 million of equity issuance costs, which was paid in cash. As a part of the Closing, all Legacy Volta Series D, Legacy Volta D-1 Preferred Stock, and Legacy Volta Class B common stock were converted to Volta Inc. Class A common stock (Note 11 - Stockholders' (Deficit) Equity and Stock-Based Compensation). On September 12, 2022, the Company filed a registration statement on Form S-3 (File No. 333-267374) with the SEC (declared effective by the SEC on September 20, 2022) which permits the Company to offer up to 500 million shares of Class A common stock, preferred stock,depository shares, debt securities, warrants and rights in one or more offerings and in any combination, including in units from time to time (the “Shelf Registration Statement”). As part of the Shelf Registration Statement, the Company filed a prospectus supplement registering for sale from time to time up to 150 million shares of our Class A common stock, par value $0.0001 per share, in “at-the-market” offerings pursuant to a Controlled Equity Offering Sales Agreement SM (the “Sales Agreement”) entered into on September 26, 2022, with a designated sales agent. As of December 31, 2022, the Company received $4.9 million of net proceeds from the sale and issuance of 4,251,284 shares of Class A common stock under the Sales Agreement, resulting in $0.4 million of equity issuance costs. Revenue recognition Revenue is recognized when promised goods or services are transferred to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services by following a five-step process, (i) identify the contract with a customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price, and (v) recognize revenue when or as the Company satisfies a performance obligation. The Company generally considers a sales contract and/or agreement with an approved purchase order as a customer contract provided that collection is considered probable, which is assessed based on the creditworthiness of the customer. The Company combines contracts with a customer if contracts are entered into at or near the same time with the same customer and are negotiated with a single commercial substance or contain price dependencies. As it enters contracts with customers, the Company evaluates distinct goods and services promised in the contract to identify the appropriate performance obligations. The performance obligations include advertising services, charging stations, which include AC and DCFC stations, installation services, operation and maintenance services, installed infrastructure, regulatory credits and SaaS. The Company generally contracts with customers at fixed amounts and has not experienced significant returns or price concessions and discounts to contacted terms. To the extent the Company is entitled to variable consideration on the sale of goods or services, it will estimate the amount it expects to collect as part of the transaction price provided it is probable that a significant reversal of revenue will not occur when the uncertainty related to variable consideration is resolved. When a contract contains multiple performance obligations, the Company allocates the transaction price to each performance obligation using the relative SSP method. The determination of SSP is judgmental and is based on the price the Company would charge for the same good or service if it were sold separately in a standalone sale to similar customers in similar circumstances. As the charging stations, installation and operation and maintenance services are never sold separately, the Company utilizes an expected cost plus a margin approach to determine the SSP for each of the separate performance obligations. Revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for promised goods or services. For revenue generated from contracts with customers involving another party, the Company considers if we maintain control of the specified goods or services before they are transferred to the customer, as well as other indicators such as the party primarily responsible for fulfillment, collection risk, and discretion in establishing prices. When the Company controls the performance of contractual obligations to the customer, it records revenue at the gross amount paid by the customer with amounts paid as commissions to Agents as cost of services. Disaggregation of revenue The Company's operations represent a single operating segment based on how the Company and its CODM manage its business. The Company disaggregates revenue by major category in the table below based on what it believes are the primary economic factors that impact the nature, amount, timing, and uncertainty of revenue and cash flows from these customer contracts. Year ended December 31, 2022 2021 Revenues (in thousands) Media $ 44,008 $ 25,961 Network Development 9,246 5,224 Charging Network Operations 748 676 Network Intelligence 598 450 Total revenues $ 54,600 $ 32,311 Media Media revenue is generated based on the number of advertising impressions delivered over the contract term, which is typically less than one year. Media revenue is recorded in service revenue in the accompanying consolidated statements of operations and comprehensive loss. Network Development Network Development revenue consists of revenue generated through installation services, operation and maintenance services offered over the contract term, installed infrastructure for utility companies and charging station products. Revenue from installation services is recognized over time using an input method based on costs incurred to measure progress toward complete satisfaction of the performance obligation. Revenue from operation and maintenance services is recognized over the term of the arrangement as the services are performed. Revenue from the sale of installed infrastructure is recognized at a point in time when control of the installed infrastructure is transferred to the customer. Revenue from charging stations is recognized at the point in time when control of the charging station is transferred to the customer, which is typically when the charging station is delivered at the designated customer site. If the arrangement contains a lease, it is accounted for in accordance with ASC 842, Leases . In some arrangements, the Company has executed a sale and leaseback of the digital media screens (sale leaseback) and has also acquired the right to control the use of the location to advertise over a set term (location lease) (see Note 9 - Debt Facilities). During the construction phase, the Company does not control the underlying asset on the customer’s property. As the leaseback qualifies as a financing arrangement, the Company will not record a sale for accounting purposes of the digital media screen and will depreciate that asset over its useful life. For contractual payments that do not exceed the fair value of the location lease obligation, the Company records a lease liability and an associated ROU asset based on the discounted lease payments. In some instances, the Company may receive a lease incentive from the lessor which is recorded as a reduction to the ROU asset. The determination of the transaction price for Network Development revenue may require judgment and can affect the amount and timing of revenue. The transaction price is based on the consideration that the Company expects to be entitled to for providing the Network Development products and services on a standalone basis. Almost all the transaction price is based on fixed cash consideration received from customers. The transaction price is allocated between lease and non-lease components based on a relative-selling price basis. However, in arrangements where the Company pays consideration to a customer for a distinct good or service, the consideration payable to a customer is limited to the fair value of the distinct good or service received by the customer. If the contractual payments for the location lease of this arrangement are in excess of fair value, then the Company will estimate the excess contractual payments over fair value and record that amount as a reduction to the transaction price in the arrangement. The reduction to transaction price for consideration payable to a customer is recognized at the later of when the Company pays or promises to pay the consideration or when the Company recognizes the related revenue for the transferred products and services. The Company reduced the transaction price and recognized consideration payable to a customer of $0.4 million and $0.6 million for the years ended December 31, 2022 and 2021, respectively. The Company typically bills the customer upon contract inception for charging stations and installation services and bills the customer on a quarterly basis for operation and maintenance services. Payments are typically due within one month after billing. Revenue generated through infrastructure development services, installation services, operation and maintenance services and installed infrastructure is recorded in service revenue in the accompanying consolidated statements of operations and comprehensive loss. Revenue generated through charging station products is recorded in product revenue in the accompanying consolidated statements of operations and comprehensive loss. Charging Network Operations Charging Network Operations revenue correlates to usage of stations, and are currently, primarily generated by selling regulatory credits or LCFS credits to other regulated entities. The Company recognizes revenue from regulatory credits at the point in time when the regulatory credits are sold to the customer. Costs associated with Charging Network Operations are composed of a minor amount of personnel-related costs which is presented in selling, general and administrative in the accompanying consolidated statements of operations and comprehensive loss. Charging Network Operations revenue is recorded in other revenue in the accompanying consolidated statements of operations and comprehensive loss. Network Intelligence Network Intelligence revenue is generated through the delivery of SaaS to the customer as well as set up and one time fees. The Company recognizes Network Intelligence revenue ratably over the contract term on a time-elapsed basis as the SaaS is performed over the license period. Network Intelligence revenue is recorded in other revenue in the consolidated statements of operations and comprehensive loss. Most costs associated with Network Intelligence revenue qualify as internal use software and are capitalized and recorded within property and equipment, net on the accompanying consolidated balance sheets. Practical expedient and policy elected The Company utilized the practical expedient to not adjust the promised amount of consideration for the effects of a significant financing component if the Company generally expects, at contract inception, that the period between when the Company transfers control of the promised good or service and when the Company receives payment from the customer is within one year or less. At contract inception, the Company expects to complete installation and transfer control of media-enabled charging stations to customers and receive payment within one year of contract execution. The Company generally expects to fulfill media campaigns and receive payment for advertising sales within one year. The Company has elected to present revenue net of sales taxes remitted to government authorities. Remaining performance obligations Transaction price allocated to the remaining performance obligation represents contracted revenue that has not yet been recognized, which includes deferred revenue and unbilled receivable amounts that are expected to be recognized as revenue in future periods and excludes the performance obligations that are subject to cancellation Deferred revenue Deferred revenue primarily consists of billings or payments received from customers in advance of revenue recognized for the sale of media-enabled charging stations, and of installation and operation and maintenance services, and is recognized as revenue upon transfer control or as services are performed. The Company generally invoices customers in advance or in milestone-based installments. Revenue recognized for the years ended December 31, 2022 and 2021 that was included in the deferred revenue balance as of December 31, 2021 and 2020 was $8.1 million and $2.9 million, respectively. As of December 31, 2022, deferred revenue related to such customer payments amounted to $14.4 million, of which $13.6 million is expected to be recognized during the succeeding twelve-month period and is therefore presented as current. Costs to obtain a contract with a customer The Company elected to apply the practical expedient available under ASC 340-40, Other Assets and Deferred Costs - Contracts with Customer s, to not capitalize incremental costs of obtaining a contract, such as sales commissions, if the amortization period is less than one year. Commissions paid for certain sales of advertising are expensed as incurred because the amortization period would ha

Liquidity

Liquidity	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Liquidity	Note 3 - Liquidity The Company's consolidated financial statements are prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. The accompanying Consolidated Financial Statements do not reflect any adjustments relating to the recoverability and reclassifications of assets and liabilities that would be necessary if the Company is unable to continue as a going concern. Additional cash obligations in the next twelve months are expected to include investments in the operations and purchases to expand the business. Management has considered conditions and events which provide substantial doubt about the Company's ability to continue as a going concern over the 12 months following the issuance of the consolidated financial statements. The Company concluded that there is substantial doubt that the Company can continue as a going concern in the next twelve months based on reasonable information available to us as of the date of this analysis. No assurances can be provided that additional funding will be available at terms acceptable to the Company, if at all. If the Company is unable to raise additional capital, the Company may significantly curtail its operations, modify strategic plans and/or dispose of certain operations or assets. For the year ended December 31, 2022, the Company incurred a net loss of $154.6 million and had negative cash flows from operating activities of $117.2 million. As of December 31, 2022, the Company had an accumulated deficit of 583.4 million and cash of $2.6 million. ATM Proceeds During the year ended December 31, 2022, the Company received $4.9 million of proceeds, net of commissions, from the sale and issuance of 4,251,284 shares of Class A common stock issued in “at-the-market” offerings pursuant to a Controlled Equity Offering Sales Agreement SM dated September 26, 2022. The offer and sale of these shares has been registered under the Securities Act, pursuant to the Company’s Registration Statement on Form S-3 (File No. 333-267374), which was originally filed with the SEC on September 12, 2022 and declared effective by the SEC on September 20, 2022, the base prospectus contained within the Registration Statement, and a prospectus supplement that was filed with the SEC on September 26, 2022. For more information, see Item 2. Management’s Discussion and Analysis of Financial Conditions and Results of Operations - Financial Condition, Liquidity, and Capital Resources - Shelf Registration Statement and At-the-Market Equity Offerings. Agreement and Plan of Merger On January 17, 2023, Volta entered into the Merger Agreement with Shell and Merger Sub. The Merger Agreement provides that, upon the terms and subject to the conditions set forth in the Merger Agreement, Merger Sub will merge with and into Volta, with Volta continuing as the surviving corporation and as a wholly-owned subsidiary of Shell. See Note 17 - Subsequent Events for further more details. In the event the Merger Agreement is not adopted by Volta stockholders, or if the merger is not completed for any other reason (other than pursuant to Volta’s acceptance of a superior proposal), it is likely that Volta would be required to promptly raise additional debt or equity capital, which may not be available, or commence voluntary bankruptcy proceedings. As of December 31, 2022, the Company had $12.9 million outstanding on a term loan. The term loan agreement requires the Company to be in compliance with certain financial covenants, including maintaining a minimum cash balance and total and average revenue covenants. If the Company does not raise additional capital it is unlikely the financial requirements will be met in future periods and the lenders will have the right to exercise remedies, including an increase in the interest rate by 3.0% per annum, and an option to require repayment of the loan in the event of default. For more information on the term loan agreement, see Note 9 - Debt Facilities.

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Note 4 - Acquisitions On April 21, 2021, the Company completed its acquisition of certain assets of 2Predict, from Praveen Mandal, the Company’s former Chief Technology Officer. 2Predict uses artificial intelligence techniques to run next-level analytics on large data sets. 2Predict's data scientists provide advanced machine learning solutions and some of them will continue to assist in developing Volta’s technology. The purchase price was $1.4 million, comprising $0.2 million cash and 182,188 issued shares of Volta Class A common stock valued at $1.2 million, paid on the acquisition date. The acquisition of 2Predict was accounted for as a Business Combination according to ASC 805-10, Business Combinations . This method requires, among other things, that assets acquired and liabilities assumed in a Business Combination be recognized at their fair values as of the acquisition date. During 2021, the Company incurred immaterial third-party acquisition costs. These expenses were included in general and administrative expense of the consolidated statements of operations and comprehensive loss for the year ended December 31, 2021. The Company recorded net assets acquired of $1.4 million, including definite-lived intangible assets of $1.2 million and goodwill of $0.2 million. Definite-lived intangible assets primarily consist of intellectual property of 2Predict, for which the weighted-average useful life is 1.5 years. Goodwill is primarily attributed to the future economic benefits arising from assets acquired that could not be individually identified and separately recognized, such as assembled workforce. The results of operations of 2Predict are included in the accompanying consolidated statements of operations and comprehensive loss from the date of acquisition. Pro forma results of operations for this acquisition have not been presented because the results of operations are not material to the consolidated statements of operations and comprehensive loss.

Reverse Recapitalization

Reverse Recapitalization	12 Months Ended
	Dec. 31, 2022
Noncontrolling Interest [Abstract]
Reverse Recapitalization	Note 5 - Reverse Recapitalization As discussed in Note 1 - Description of Business, on the Closing Date, Volta Inc. (formerly Tortoise Corp II) consummated the Reverse Recapitalization and Legacy Volta received proceeds of $350.1 million. The proceeds included $300.0 million from certain accredited investors that agreed to purchase 30,000,000 shares of Volta Class A common stock in a private placement in connection with the Reverse Recapitalization (the “PIPE Financing”), and is net of $242.2 million in redemptions from issuance of common stock upon the Closing and includes $9.0 million of transaction costs of which the entire amount was paid by Legacy Volta as of December 31, 2021. Subsequent to the Closing, the Company received refunds for the over-payment of transaction costs of $4.1 million as of December 31, 2021. These transaction costs consist of legal, accounting, and other professional services directly related to the Reverse Recapitalization. These one-time direct and incremental transaction costs incurred by the Company were recorded based on the activities to which the costs relate and the structure of the transaction; cost relating to the issuance of equity is recorded as a reduction of the amount of equity raised, presented in additional paid in capital, while all costs related to the warrants were estimated and charged to expense. The cash outflows related to these costs were presented as financing activities on the Company’s consolidated statement of cash flows. On the Closing Date, each holder of Legacy Volta’s Class A common stock received approximately 1.2135 shares of Volta’s Class B common stock, par value $0.0001 per share, and each holder of Legacy Volta’s Class B common stock received approximately 1.2135 shares of the Company’s Class A common stock, par value $0.0001 per share. See Note 10 - Warrants and Note 11 - Stockholders' (Deficit) Equity and Stock-Based Compensation for additional details of the Company’s stockholders’ equity prior to and subsequent to the Reverse Recapitalization. All equity awards of Legacy Volta were assumed by the Company and converted into comparable equity awards that are settled or exercisable for shares of the Company’s Class A or Class B common stock based on an exchange ratio of approximately 1.2135. Each Public Warrant and Private Warrant was unexercised at the time of the Reverse Recapitalization and was assumed by the Company and represents the right to purchase shares of the Company’s Class A common stock. Please refer to Note 10 - Warrants for additional detail. The Reverse Recapitalization was accounted for with Legacy Volta as the accounting acquirer and Tortoise Corp II as the acquired company for accounting purposes. Legacy Volta was determined to be the accounting acquirer since Legacy Volta’s stockholders prior to the Reverse Recapitalization had the greatest voting interest in the combined entity, Legacy Volta comprises all of the ongoing operations and Legacy Volta’s senior management directs operations of the combined entity. Accordingly, all historical financial information presented in the consolidated financial statements represents the accounts of Legacy Volta and its wholly owned subsidiaries. Net assets were stated at historical cost consistent with the treatment of the transaction as a reverse recapitalization of Volta Inc.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 6 - Fair Value Measurements The Company uses a three-tier fair value hierarchy to prioritize the inputs used in the fair value measurements. All of the Company's cash and cash equivalents are classified within Level 1 as they are valued using quoted market prices or alternative pricing sources. The Public Warrants were classified as Level 1 due to the use of an observable market quote in an active market. The senior secured term loan is classified within Level 2 as it is valued using market-based risk measurements that are indirectly observable, such as credit risk. Private Warrants are classified within Level 3. In determining the fair value of the private placement warrant liability, the Company used the BLM that assumes optimal exercise of the Company’s redemption option at the earliest possible date. The following tables present information about the Company’s liabilities that are measured at fair value on a recurring basis and indicate the fair value hierarchy of the valuation techniques that the Company utilized to determine such fair value. Carrying Amount Total Level 1 Level 2 Level 3 December 31, 2021 (in thousands) Liabilities Senior secured term loan $ 39,995 $ 41,242 $ — $ 41,242 $ — Private warrants 11,036 11,036 — — 11,036 Public warrants 16,036 16,036 16,036 — — Total $ 67,067 $ 68,314 $ 16,036 $ 41,242 $ 11,036 December 31, 2022 Liabilities Senior secured term loan $ 12,483 $ 12,923 $ — $ 12,923 $ — Private warrants 386 386 — — 386 Total $ 12,869 $ 13,309 $ — $ 12,923 $ 386 Level 2 valuation - senior secured term loan The Company measures the fair value of the senior secured term loan using discounted cash flows and market-based expectations for credit risk and market risk. Level 3 valuation - Private Warrants As of December 31, 2022 and 2021, the Company has Private Warrants defined and discussed in Note 10 - Warrants. The warrants are measured at fair value on a recurring basis at the end of each reporting period using a BLM. The BLM's primary unobservable input utilized in determining the fair value of the Private Warrants is the expected volatility of the common stock. The expected volatility as of the Closing was derived from observable Public Warrants pricing. The expected volatility as of subsequent valuation dates was implied from the Company’s own Public Warrants pricing. Accordingly, the Private Warrants are classified as Level 3 financial instruments. The Private Warrants were valued as of December 31, 2022 using the estimated fair value price of $0.07 per Private Warrant, and valued as of December 31, 2021 using the estimated fair value price of $1.86 per Private Warrant. The following table provides quantitative information regarding Level 3 Private Warrants fair value measurement inputs at their measurement dates : December 31, 2022 December 31, 2021 Expected dividend yield — % — % Risk-free interest rate 4.10 % 1.18 % Expected volatility 214.40 % 132.50 % Expected term (in years) 3.65 4.5 The changes in the fair value of the Private Warrants were as follows: (in thousands) December 31, 2020 $ 698 Increase in fair value of Preferred Stock warrants 1,246 Release of liability upon exercise of Preferred Stock warrants (1,944) Addition of Private Warrants 11,036 Decrease in fair value of Private warrants — December 31, 2021 $ 11,036 Decrease in fair value of Private warrants (10,650) December 31, 2022 $ 386 There were no transfers of financial instruments between levels of the hierarchy for the years ended December 31, 2022 and 2021.

Property and Equipment, Net

Property and Equipment, Net	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	Note 7 - Property and Equipment, Net Property and equipment, net, as of December 31, 2022 and 2021, consists of the following: December 31, 2022 December 31, 2021 (in thousands) Charging stations and digital media screens $ 131,107 $ 79,104 Construction in progress: station hardware 100,895 33,434 Capitalized research and development equipment 2,451 2,689 Leasehold improvements 1,990 856 Computer and office equipment 1,727 1,459 Capitalized software 1,622 888 Development in progress: software 4,573 86 Furniture 229 229 Other fixed assets 4,573 3,736 Total property and equipment 249,167 122,481 Less accumulated depreciation and amortization (41,821) (24,753) Property and equipment, net $ 207,346 $ 97,728

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	12 Months Ended
	Dec. 31, 2022
Payables and Accruals [Abstract]
Accrued Expenses and Other Current Liabilities	Note 8 - Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities as of December 31, 2022 and 2021 consists of the following: December 31, 2022 December 31, 2021 (in thousands) Charging station expenses $ 10,499 $ 5,393 Lease incentive liability 1,746 2,354 Employee related expenses 6,374 9,239 Deposit liability — 850 Accrued interest — 1,294 Severance 325 — Other 501 1,038 Total accrued expenses and other liabilities $ 19,445 $ 20,168

Debt Facilities

Debt Facilities	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Debt Facilities	Note 9 - Debt Facilities The Company’s outstanding debt instruments as of December 31, 2022 and 2021 are as follows: December 31, 2022 December 31, 2021 (in thousands) Term loans payable $ 12,923 $ 40,833 Less current maturities, net of debt issuance 12,483 15,998 Less unamortized debt issuance costs, non-current portion 440 838 Total loans payable, net of unamortized debt issuance costs and current term loan payable $ — $ 23,997 Term loans payable On June 19, 2019, the Company entered into a term loan agreement that provides for senior secured term loan facilities of up to $44.0 million, and on November 25, 2020, the maximum borrowings were increased to $49.0 million. The term loan bears interest on the total outstanding balance at 12% per annum and is secured by certain qualifying assets of the Company. Principal payments are due in equal monthly installments which began on July 1, 2021, and the term loan matures on June 19, 2024. Total payments on the principal balance for the years ended December 31, 2022 and December 31, 2021 were $27.9 million and $8.2 million, respectively. The term loan agreement contains certain covenants pertaining to reporting and financial requirements, as well as negative and affirmative covenants. If the Company does not meet its reporting requirements, the lenders have the right to request remedies, including an increase in the interest rate by 3.0% per annum, and an option to call the loan in the event of default. The lenders agreed to waive their right to call the debt as a result of violations of certain covenants. These provisions expire on the earlier of loan termination, when the facility is fully drawn on, or two years after the Closing Date. The Company is in compliance with all covenants in relation to the year ended December 31, 2022. In March 2022 certain additional covenants pertaining to investments by the Company in its foreign subsidiaries Volta Canada Inc., Volta Charging Germany GmbH and Volta France SARL were implemented through an amendment to the term loan agreement. The amendment requires that investments in such foreign subsidiaries shall not exceed 125% of funds held in escrow. As of September 30, 2022, the Company had funded $12.9 million into an escrow account to cover projected investments in such foreign subsidiaries, which was presented as restricted cash on the consolidated balance sheets as of September 30, 2022. The term loan agreement was further amended in September 2022 to permit the Company to sell shares of its common stock in at-the-market offerings. In October 2022, pursuant to a limited waiver to the term loan agreement, the Company released all of the funds in the escrow account of $12.9 million to the agent as a voluntary prepayment of the obligations owed under the term loan. The limited waiver maintains the funding requirement for the escrow account and extends it to include Volta Rakko B.V. and Rakko Holding B.V. in the Netherlands. As of December 31, 2022 and 2021, $12.9 million and $40.8 million of the principal was outstanding, and there was a debt discount of $0.4 million and $0.8 million, related to debt issuance costs, respectively. As of December 31, 2022, there was no accrued interest. As of December 31, 2021, accrued interest was $1.3 million. Term loan payments by period as of December 31, 2022 are as follows: Fiscal Year (in thousands) 2023 12,923 $ 12,923 PPP loan In April 2020 the Company applied for and received a small business loan of $3.2 million through the PPP Loan . Although the Company received full forgiveness for the loan as the entire amount was used for eligible expenses under the program, the Company paid the entire balance of the PPP loan on October 12, 2021. Financing obligations For one customer, the Company has entered into multiple contracts to sell media-enabled charging stations and leaseback the digital media screens for a period of up to 10 years. The leaseback of the digital media screen is in excess of its useful life of 5 years. Therefore, the consideration received equal to relative standalone selling price for the digital media screens has been recorded as a financing transaction. This financing arrangement has been amortized over its 5-year term at the Company’s incremental borrowing rate at the time of the transaction. As of both December 31, 2022 and 2021, the current portions of the financing obligation were $0.9 million, which were included within accrued expenses and other current liabilities in the accompanying consolidated balance sheets. Non-current portions as of December 31, 2022 and 2021 were $2.4 million and $3.1 million, respectively, which were included within other non-current liabilities on the accompanying consolidated balance sheets. The Company’s incremental borrowing rate for each of these transactions has ranged between 6.0%-17.9%. As of December 31, 2022 future payments under financing obligations were as follows: Fiscal Year (in thousands) 2023 $ 1,198 2024 1,215 2025 810 2026 408 Thereafter 529 Total future payments 4,160 Less amount representing interest 883 Total financing obligations $ 3,277

Warrants

Warrants	12 Months Ended
	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Warrants	Note 10 - Warrants Legacy Volta Preferred Stock warrants In connection with the Company’s prior debt financing agreements, Legacy Volta issued preferred stock warrants to purchase shares of Legacy Volta Series B preferred stock. During 2015, the Company issued warrants to purchase up to 209,029 shares of Series B preferred stock at an exercise price of $1.0475 per warrant expiring in July 2025. On August 25, 2021, 208,993 shares of Legacy Volta preferred stock warrants were converted through a cashless exercise in accordance with the terms of the original warrant agreement to 253,613 shares of Class A common stock due to the application of the exchange ratio of approximately 1.2135. As of December 31, 2022 and 2021, none of the Legacy Volta Preferred Stock warrants remain outstanding. Legacy Volta common stock warrants In connection with the Legacy Volta Series D issuance, the Company issued equity classified warrants to purchase 381,679 shares of Legacy Volta Class B common stock at an exercise price of $1.31, to the existing investors, during the year ended December 31, 2020. The Company valued the warrants at $0.76 per share upon issuance for a total amount of $0.3 million. As the warrants were issued in connection with the issuance of Legacy Volta preferred stock, the Legacy Volta preferred stock had equal and offsetting equity issuance costs of $0.3 million recorded in the consolidated balance sheet as of December 31, 2020. At Closing, each warrant to purchase Legacy Volta common stock was automatically converted to a warrant to purchase a number of shares of Volta Class A common stock equal to the product of (a) the number of shares of Legacy Volta common stock subject to such Legacy Volta warrant and (b) 1.2135, rounding down to the nearest whole number of shares, at an exercise price per share equal to (i) the exercise price per share for the shares of Legacy Volta common stock subject to such Legacy Volta warrant divided by (ii) 1.2135, rounding up to the nearest whole cent. During the year ended December 31, 2021, 182,025 shares of Volta Class A common stock warrants were exercised at an exercise price of $0.01 per share for an immaterial amount. During the year ended December 31, 2021, 188,638 shares of Volta Class A common stock warrants were exercised through a cashless exercise. As of December 31, 2022 and 2021, 9,773,835 Volta Class A common stock warrants remained outstanding. Public and Private warrants As the accounting acquirer, Legacy Volta, is deemed to have assumed 8,621,715 Public Warrants and 5,933,333 Private Warrants that were held by TortoiseCorp II at an exercise price of $11.50. In accordance A&R Warrant Agreement, dated August 26, 2021, between Volta, Computershare Inc. and Computershare Trust Company, N.A., collectively as warrant agent, the Public Warrants and Private Warrants for Class A common shares became exercisable on September 15, 2021. The warrants will expire five years after the completion of the Reverse Recapitalization, or earlier upon redemption or liquidation. The Private Warrants do not meet the criteria for equity treatment and must be recorded as liabilities on the consolidated balance sheets. Accordingly, the Company classifies the Private Warrants as liabilities and records them at fair value. The Public Warrants did not meet the criteria for equity treatment from the issuance date through June 2022. During June 2022, changes in the Company's capital stock structure caused the Public Warrants to be eligible for equity classification. Accordingly the Company reclassified the fair value of the Public Warrants as of the date of the change in classification to additional paid-in-capital and was no longer required to make any additional fair value assessments in future periods. There was no warrant exercise activity during the year ended December 31, 2022. For the year ended December 31, 2021, 275 Public and no Private Warrants were exercised. Private Warrants Public Warrants Total Public and Private Common Stock Warrants Outstanding at December 31, 2020 — — — Common stock warrants added upon the Reverse Recapitalization 5,933,333 8,621,715 14,555,048 Warrants exercised — (275) (275) Outstanding at December 31, 2021 5,933,333 8,621,440 14,554,773 Warrants exercised — — — Outstanding at December 31, 2022 5,933,333 8,621,440 14,554,773 The Private Warrants and the Public Warrants have substantially similar terms, except that the Private Warrants and Class A shares upon exercise of the Public Warrants were not transferable, assignable or salable until 30 days after the completion of the Reverse Recapitalization, subject to certain limited exceptions. Additionally, the Private Warrants will be non-redeemable so long as they are held by the initial purchasers or their permitted transferees. If the Private Warrants are held by someone other than the initial purchasers or their permitted transferees, the Private Warrants will be redeemable and exercisable by such holders and the same basis as the Public Warrants. Once the warrants become exercisable, the outstanding warrant can be redeemed in whole not in part and upon a minimum of 30 days’ prior written notice of redemption in the following two options: • If the last sale price of Class A shares equals or exceeds $18.00 per share (as adjusted for share sub-divisions, share dividends, reorganizations, recapitalizations and the like) for any 20 trading days within a 30-trading day period ending on the third trading day prior to the date on which the Company sends the notice of redemption to the warrant holders. In that case, the Company can redeem the outstanding warrants at a price of $0.01 per warrant. • Commencing 90 days after the warrants become exercisable, if the last sale price of Class A shares equal or exceeds $10.00 per share (as adjusted for share sub-divisions, share dividends, reorganizations, recapitalization and the like) on the trading day prior to the date on which the Company sends a notice of redemption to the warrant holders. The Company can redeem the outstanding warrants for Volta Class A common shares a price equal to a number of Class A shares to be determined by reference to an agreed table based on the redemption date and the “fair market value” of Class A shares. No fractional shares will be issued upon exercise of the warrants. If, upon exercise of the warrants, a holder would be entitled to receive a fractional interest in a share, the Company will, upon exercise, round down to the nearest whole number the number of shares of Class A common stock to be issued to the warrant holder.

Stockholders_ Deficit and Stock

Stockholders’ Deficit and Stock-based Compensation	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Stockholders’ Deficit and Stock-based Compensation	Note 11 - Stockholders' (Deficit) Equity and Stock-Based Compensation Prior to the Reverse Recapitalization, Legacy Volta had two classes of authorized common stock: Legacy Volta Class A common stock and Legacy Volta Class B common stock. Unvested shares issued upon early exercise of stock options for cash were not considered outstanding for accounting purposes because the employees holding these awards were not entitled to the rewards of stock ownership. There have been no early exercises other than those issued in exchange for partial recourse notes as of December 31, 2021. The holders of Legacy Volta Class A common stock were entitled to one vote per share on any matter submitted to a vote of the stockholders of the Company; holders of Legacy Volta Class B common stock were entitled to receive dividends whenever funds were legally available and when declared by the Board. Reverse Recapitalization On the Closing Date and in accordance with the terms and subject to the conditions of the Reverse Recapitalization, each share of the Legacy Volta Class A common stock and Legacy Volta Class B common stock, par value $0.0001 per share, was canceled and converted into the right to receive the applicable portion of the Reverse Recapitalization composed of the Company’s Class B common stock and Company's Class A common stock, par value $0.0001 per share, respectively, as determined pursuant to the share conversion ratio. The share conversion ratio is approximately 1.2135. PIPE Financing Concurrently with the execution of the Business Combination Agreement, certain accredited investors entered into subscription agreements, each dated February 7, 2021, pursuant to which the investors agreed to purchase 30,000,000 shares of the Company’s Class A common stock in a private placement for aggregate gross proceeds of $300.0 million. Convertible Preferred Stock Prior to the Closing, Legacy Volta had shares of Series A, Series B, Series C, Series C-1, Series C-2, Series D, and Series D-1 convertible preferred stock outstanding. Upon the Closing, the outstanding shares of Legacy Volta preferred stock were converted into shares of Legacy Volta Class B common stock then converted into Class A common stock of the Company at approximately 1.2135 per share, the exchange ratio established in connection thereof the Reverse Recapitalization. The following summarized the Company’s Preferred Stock conversion immediately after the Reverse Recapitalization: Preferred Shares Conversion Ratio Common stock Series A redeemable convertible Preferred Stock 7,363,856 1.2135 8,936,039 Series B redeemable convertible Preferred Stock 11,090,568 1.2135 13,458,404 Series C redeemable convertible Preferred Stock 18,581,768 1.2135 22,548,976 Series C-1 redeemable convertible Preferred Stock 665,428 1.2135 807,497 Series C-2 redeemable convertible Preferred Stock 7,675,798 1.2135 9,314,581 Series D redeemable convertible Preferred Stock 13,266,042 1.2135 16,098,342 Series D-1 redeemable convertible Preferred Stock 8,283,574 1.2135 10,052,117 Total 66,927,034 81,215,956 Company’s common stock outstanding Authorized Shares Issued and Outstanding Shares December 31, 2022 Volta Class A common stock 350,000,000 174,198,246 Volta Class B common stock 50,000,000 — Total Common Stock 400,000,000 174,198,246 December 31, 2021 Volta Class A common stock 350,000,000 152,218,214 Volta Class B common stock 50,000,000 9,887,185 Total Common Stock 400,000,000 162,105,399 Volta Class A and Volta Class B common stock Each holder of Volta Class A common stock has the right to one vote per share of Volta Class A common stock, and each holder of Volta Class B common stock has the right to ten votes per share of Volta Class B common stock held of record by such holder. Any dividends or distributions will be treated on a per share basis for each class. In the event a dividend is paid in the form of shares of Volta Class A common stock or Volta Class B common stock then holders of Volta Class A common stock will receive shares of Volta Class A common stock and holders of Volta Class B common stock will receive shares of Volta Class B common stock, with holders of shares of Volta Class A common stock and Volta Class B common stock receiving, on a per share basis, an identical number of shares of Volta Class A common stock or Volta Class B common stock, as applicable. Subject to any preferential or other rights of any holders of Volta Preferred Stock then outstanding, upon the liquidation, dissolution or winding up of Volta, whether voluntary or involuntary, holders of Volta Class A common stock and Volta Class B common stock are entitled to receive ratably all assets of Volta available for distribution to its stockholders. The holders of Volta Class A and Class B common stock do not have preemptive, subscription, redemption or conversion rights. The Volta Class B common stock is convertible into shares of Volta Class A common stock on a one-to-one basis at the option of the holders or automatically upon predetermined events of the Volta Class B common stock at any time upon written notice to Volta. Volta Preferred Stock The Certificate of Incorporation of Volta filed with the Secretary of State of the State of Delaware on August 26, 2021, as the same may be amended, supplemented or modified from time to time provides that shares of Volta preferred stock may be issued from time to time in one or more series up to 10,000,000 shares. No such shares have been issued as of December 31, 2022. Shares reserved for issuance The Company has the following shares of common stock reserved for future issuance, on an as-if converted basis: December 31, 2022 December 31, 2021 2022 ATM Plan Reserve 70,748,716 — Shares available for grant – 2021 Equity incentive plan 25,500,119 14,357,382 Unvested restricted stock units 18,391,859 29,688,046 Legacy Volta Class A common stock warrants 9,773,835 9,773,835 Options outstanding 6,336,542 11,464,745 Outstanding Public Warrants 8,621,440 8,621,440 Outstanding Private Warrants 5,933,333 5,933,333 Shares available for purchase - 2021 ESPP plan 3,715,944 3,715,944 Vested restricted stock units, not yet released 173,303 — Total shares of common stock reserved 149,195,091 83,554,725 Employee Stock Purchase Plan In connection with the Reverse Recapitalization, effective on August 26, 2021, the Board and Tortoise Corp II’s shareholders adopted the 2021 Employee Stock Purchase Plan (the “2021 ESPP”) to allow employees of Volta, under Section 423 of the Internal Revenue Code of 1986 (the “Code”), and its service providers (outside Section 423 of the Code) to purchase shares of Class A common stock at a discount through payroll deductions and to benefit from stock price appreciation, thus enhancing the alignment of employee and stockholder interests. The 2021 ESPP allows eligible employees and service providers to purchase shares of the Company’s common stock with a percentage or maximum dollar amount discounted through payroll deductions of up to 15% of eligible employee compensation, subject to any plan limitations. The purchase price of shares of common stock acquired by eligible employees or service providers will not be less than the lesser of: (i) an amount equal to 85% of the fair market value of the shares of common stock on the offering date; or (ii) an amount equal to 85% of the fair market value of the shares of common stock on the applicable purchase date. No offerings or purchases of common stock shares have taken place as of December 31, 2022. Subject to capitalization adjustments, the 2021 ESPP provides for the issuance of up to 3,715,944 shares of common stock as of December 31, 2022. Equity Incentive Plans Upon the Closing Date, Volta's Board adopted a new plan (which amended and restated the prior plan), the 2021 Equity Incentive Plan (“2021 EIP”) effective as of August 26, 2021. The 2021 EIP authorizes stock options, stock appreciation rights, restricted stock, restricted stock units (“RSUs”) and performance-based awards, as well as certain other awards. As of December 31, 2022, 25,500,119 shares of common stock were available and reserved for issuance under the 2021 EIP. The number of shares available and reserved for issuance under the 2021 EIP include the shares reserved for issuance under the Legacy Volta 2014 Equity Incentive Plan (“2014 EIP”). On the first day of each fiscal year beginning with the 2022 fiscal year and ending on (and including) the first day of the 2031 fiscal year, the number of shares available for issuance under the 2021 EIP will automatically increase in an amount equal to the lesser of (i) five percent (5%) of the outstanding shares on the last day of the immediately preceding fiscal year and (ii) such number of shares determined by the Board, with such shares to be Class A common stock. Under the 2021 EIP, the Company can grant stock options, stock appreciation rights, restricted stock, RSUs and certain other awards which are settled in the form of common shares under the 2021 EIP. No further awards will be granted under the Legacy Volta 2014 EIP. Additionally, upon the Closing Date, the Board adopted the Founder Incentive Plan (“FIP”) effective August 26, 2021. The FIP authorizes the grant of up to 10,500,000 aggregate RSUs to Scott Mercer and Christopher Wendel (the "Founders"). Stock option activity Stock option activity and activity regarding shares available for grant under the Plan is as follows: Number of options outstanding Weighted-average exercise price per share Weighted-average remaining contractual life Aggregate intrinsic value (in years) (in thousands) January 1, 2021 17,558,731 $ 0.93 8.2 $ 30,881 Options granted 7,248,934 3.93 Options exercised (12,796,353) 0.79 Options forfeited (544,526) 2.53 Options expired (2,022) 0.73 December 31, 2021 11,464,764 $ 2.66 8.3 $ 53,695 Options granted — — — $ — Options exercised (1,743,072) 0.70 Options forfeited (2,770,238) 3.76 Options expired (598,689) 2.74 December 31, 2022 6,352,765 $ 2.70 7.0 $ 16 Options vested and exercisable as of December 31, 2021 4,830,158 $ 1.30 7.4 $ 29,176 Options vested and exercisable as of December 31, 2022 4,828,793 $ 2.37 6.8 $ 16 The aggregate intrinsic value of employee options exercised during the years ended December 31, 2022 and 2021 was $2.3 million and $103.4 million, respectively. The intrinsic value is the difference between the fair value of the Company’s common stock at the date of the exercise and the exercise price for in-the-money options. The total fair value of options vested during the years ended December 31, 2022 and 2021 was $8.5 million and $7.1 million, respectively. RSUs In accordance with the FIP, the Company granted 10,500,000 RSUs to the founder and co-founder in August 2021. The fair value of the RSUs is measured on the grant date based on the value of the shares on the Closing Date. These grants vest on the earlier of January 1, 2022 or a qualified termination as defined in the FIP. The FIP was adopted upon Closing to replace that certain Volta Management Carve-Out Plan (the "Carve-Out-Plan"), pursuant to which in the event of a "liquidity transaction" (as defined in the Carve-Out Plan), Mr. Mercer and Mr. Wendel would each be eligible to receive 2% of the "aggregate proceeds" (as defined in the Carve-Out Plan), subject to their execution of a release of claims in favor of Legacy Volta. The terms and conditions of the FIP and the grant of RSUs to Mr. Mercer and Mr. Wendel were proposed to be adopted in exchange for the termination of the Carve-Out Plan, and such proposal was approved by the shareholders of Tortoise Corp II. In accordance with the 2021 EIP, the Company granted RSUs to certain officers, executives, new hires, and key employees in November 2021 and December 2021. The fair value of the RSUs is measured on the grant date based on the closing price for the Company’s Class A common stock. Typically, these grants vest over a three In addition to RSUs granted with service-based vesting conditions, the Company also granted RSUs with performance-based and market-based vesting conditions. Performance-based RSUs vest on the date that the Company achieves the targets specified within the grant agreements. The fair value of the awards is measured on the grant date based on the closing price of the Company’s common stock. The Company also granted RSUs with market-based vesting conditions to certain executives and designated employees in November and December 2021. Market-based RSUs vest on the date that the Company's stock price reaches certain thresholds specified within the grant agreements. The fair value of RSUs with market-based vesting conditions is measured on the grant date using a BLM. The requisite service period is also determined through the use of a BLM. Compensation cost associated with awards granted with market-based vesting conditions is recognized using an accelerated attribution method over the requisite service period even if the market condition is never satisfied. A summary of the RSU activity for the year ended December 31, 2022 was as follows: Number of shares Weighted-average grant date fair value January 1, 2021 — $ — RSUs granted 29,763,009 10.70 RSUs vested — — RSUs forfeited (75,000) 12.10 December 31, 2021 29,688,009 $ 10.70 RSUs granted 15,127,877 2.89 RSUs vested (11,558,324) 8.90 RSUs forfeited (14,865,703) 8.44 December 31, 2022 18,391,859 $ 7.83 The weighted-average grant-date fair value of RSUs granted during the twelve months ended December 31, 2022 was $2.89 per share. In addition to the awards outlined above, the Company approved the grant of 111,168 market-based RSUs and 1,340,974 service-based RSUs that were not yet communicated to employees as of December 31, 2021. As a result, these awards were not considered granted for accounting purposes during the year ended December 31, 2021. No additional market-based RSUs were awarded during 2022. Restricted Stock Awards In accordance with the 2014 EIP, the Company granted restricted stock awards (“RSAs”) to certain officers in February 2021. The fair value of the RSAs is measured on the grant date based on the closing price for the Company’s common stock. These awards vested immediately on the date of issuance. A summary of the restricted stock award activity for the year ended December 31, 2022 was as follows: Number of shares Weighted-average grant date fair value January 1, 2021 RSAs granted 6,916,950 $ 5.82 RSAs vested (6,916,950) $ 5.82 RSAs forfeited — $ — December 31, 2021 — $ — There were no RSAs granted during the year ended December 31, 2022. Stock-based compensation Stock-based compensation for options is estimated using the Black-Scholes option pricing model on the date of grant. The fair value of all options is amortized on a ratable basis over the required service periods of the awards, which are generally the vesting periods. The weighted-average assumptions that were used in calculating such values during the year ended December 31, 2021 were as follows: Year ended December 31, 2021 Expected dividend yield — % Risk-free interest rate 0.7 % Expected volatility 60.4 % Expected term (in years) 5.8 The Company has limited historical information to develop reasonable expectations about future exercise patterns and post-vesting employment termination behavior for its stock option grants. Therefore, the expected term of options granted is based on the “simplified method” of expected life. There were no options granted during the year ended December 31, 2022 and therefore no fair value calculations were required. The risk-free interest rate is based on the U.S. Treasury yield for a term consistent with the expected life of the awards in effect at the time of grant. As the Company does not have a trading history for its common stock prior to the Reverse Recapitalization, the expected stock price volatility for the Company’s common stock was estimated by taking the historic stock price volatility for industry peers based on their price observations over a period equivalent to the expected term of the stock option grants. The Company has no history or expectation of paying cash dividends on its common stock. In accordance with the 2021 EIP and the FIP, the Company has granted RSUs that are subject to service-based vesting conditions, performance-based vesting conditions and market-based vesting conditions established by the Company’s Compensation Committee at the grant date. Compensation cost for the performance-based RSUs is recognized over the requisite service period if it is probable that the performance condition will be satisfied. The Company interprets the term “probable” to represent a greater than 70% likelihood that an event will occur. As of December 31, 2022, the Company determined that it is not probable that the performance conditions would be satisfied and has not recorded compensation cost associated with the performance-based awards. Compensation cost associated with market-based RSUs is recognized over the requisite service period using the accelerated attribution method even if the market condition is never satisfied. For the year ended December 31, 2022 and 2021, the Company recognized $9.5 million and $21.6 million in compensation costs associated with market-based RSUs. The unrecognized compensation expense related to stock options and RSUs was $4.7 million and $24.4 million, at December 31, 2022 respectively, and is expected to be recognized over a weighted average period of 1.93 and 2.93 years, respectively. The Company estimated the fair value of its market-based RSUs on the grant date using a BLM incorporating the assumptions noted in the table below: Year ended December 31, 2022 2021 Expected dividend yield — % — % Risk-free interest rate 1.5 % 1.3 % Expected volatility 90.0 % 95.0 % Expected term (in years) 4.6 4.8 Significant modifications In July 2021, in connection with the resignation of the Company’s former chief financial officer, the Board approved the acceleration of 458,314 unvested stock options on the date of her resignation. The exercise period for 140,000 of the options not previously exercised with partial recourse notes was extended such that the vested shares will remain outstanding and exercisable through the original 10-year term of each respective option. The maturity date of the partial recourse notes issued in exchange for early exercises was also extended from the termination date of July 31, 2021 to December 15, 2021. The Company recorded incremental stock-based compensation expense of approximately $2.4 million for this combination of stock option modifications. In addition, in August 2021, the Board approved the acceleration of all 110,418 stock options for two individuals in connection with their terminations. The modified options post-termination exercise period was extended such that the vested shares will remain outstanding and exercisable through the original 10-year term. The Company recorded incremental stock-based compensation expense of approximately $0.5 million for these stock option modifications. The stock option modifications were measured as the excess of the fair value of the modified awards over the fair value of the original awards immediately before the modifications. The incremental stock-based compensation was recorded in selling, general and administrative expense, on the consolidated statement of operations for the year ended December 31, 2021. James DeGraw Modification Effective June 2, 2022, James DeGraw resigned as an employee and officer of the Company and, in connection therewith, entered into a settlement and consulting agreement with the Company, dated as of June 2, 2022. In accordance with Mr. DeGraw’s settlement and consulting agreement, unvested RSU awards and stock options were modified on the date of termination of Mr. DeGraw’s employment to accelerate the vesting in full and to extend the post-termination exercise period upon the condition that Mr. DeGraw serve as a consultant to the Company through the first anniversary of the termination date. With the exception of two option grants held by Mr. DeGraw, all of the stock options had previously been exercised with a partial recourse note which was settled prior to the completion of the Reverse Recapitalization. The unvested portion of those early exercised option grants was also modified to accelerate vesting; the effect of this modification was to release the repurchase right for those early exercised options. The stock option modifications were measured as the excess of the fair value of the modified awards over the fair value of the original awards immediately before the modifications. The fair values immediately after these modifications were determined using the closing price of the Company’s common stock on the modification date for the shares already held by Mr. DeGraw through exercise with and settlement of partial recourse notes, which shares were released from the Company’s repurchase right under the respective early exercise agreements. Additionally, vested unexercised stock options were modified on the termination date to extend the post-termination exercise period from 90 days to the contractual term of the options. The vested stock option modifications were measured as the excess of the fair value of the modified awards over the fair value of the original awards immediately before the modification determined using a Black-Scholes model. Assumptions used to calculate incremental expense for the modified vested stock options during the year ended December 31, 2022 were as follows: Year Ended December 31, 2022 Expected dividend yield — % Risk-free interest rate 1.2% - 2.9% Expected volatility 52.4% - 61.9% Expected term (in years) 0.3 - 8.6 The incremental stock-based compensation expense relating to these modifications was recognized in full in the period of Mr. DeGraw’s termination as there is no further substantive service required for the awards to vest. Further, the Company reversed the expense previously recorded for the RSUs in accordance with Accounting Standards Codification (“ASC”) Topic 718 as the awards were unvested and effectively forfeited and replaced by new RSUs with no service requirement before the completion of the derived requisite service period of the original awards. There was no previously recorded expense for unvested options. The components of stock-based compensation expense recorded with respect to the modified awards are as follows: (in thousands) Year Ended December 31, 2022 Reversal of previously recorded RSU expense $ (605) Incremental expense for modified RSUs 1,018 Incremental expense for modified stock options 804 Total stock-based compensation expense $ 1,217 Scott Mercer and Chris Wendel Modification On March 26, 2022, Scott Mercer and Chris Wendel resigned from the Board, and Mr. Wendel also resigned as an employee and officer of the Company. Mr. Mercer’s resignation as an employee and officer of the Company was effective as of April 15, 2022. In accordance with the separate settlement and release agreements, dated as of March 26, 2022, between the Company and Mr. Mercer and Mr. Wendel, respectively, unvested RSU awards with market-based vesting conditions, 5,250,000 of which were held by Mr. Mercer and 4,500,000 of which were held by Mr. Wendel, granted on November 15, 2021, were modified on their respective termination dates to eliminate the service requirement (to be an active employee on the date of achievement of the market condition). Additionally, the unvested stock options held by Mr. Mercer as of April 15, 2022 were modified to accelerate the vesting and vest in full on April 15, 2022. Substantially all of the stock options for the Founders had previously been exercised with partial recourse notes, which were settled prior to the completion of the Reverse Recapitalization. The unvested portion of those early exercised option grants was also modified to accelerate vesting as of each Founder’s termination date; the effect of this modification was to release the repurchase right for those early exercised options. The stock option and market-based RSU modifications were measured as the excess of the fair value of the modified awards over the fair value of the original awards immediately before the modifications. The fair values immediately after these modifications were determined using a BLM for the market-based RSUs, the Black-Scholes model for the unexercised stock option for Mr. Mercer, and the closing price of the Company’s common stock on the modification date for the shares already held by the Founders through exercise with and settlement of partial recourse notes, which shares were released from the Company’s repurchase right under the respective early exercise agreements. The incremental stock-based compensation expense relating to these modifications has been recorded in full in the period of each Founder’s respective termination as there is no further service requirement from either Founder. Further, the Company has reversed expense previously recorded for the market-based RSUs in accordance with ASC Topic 718 as the awards were unvested and effectively forfeited and replaced by new market-based RSUs with no service requirement before the completion of the derived requisite service period of the original awards. The components of stock-based compensation expense recorded for modified awards are as follows: Year Ended December 31, 2022 (in thousands) Chris Wendel Scott Mercer (a) Reversal of previously recorded market-based RSU expense $ (9,879) $ (11,526) Incremental expense for modified market-based RSUs 13,290 15,505 Incremental expense for modified stock options 3,662 3,451 Total stock-based compensation expense $ 7,073 $ 7,430 (a) For Mr. Mercer’s stock options, the Company recorded stock-based compensation expense of 0.1 million for the year ended December 31, 2022 for awards that continued to vest until his termination on April 15, 2022. Assumptions used to calculate incremental expense for the modified market-based RSUs using a Monte Carlo valuation during the year ended December 31, 2022 were as follows: Year Ended December 31, 2022 Expected dividend yield — % Risk-free interest rate 2.5 % Expected volatility 90.0 % Expected term (in years) 4.4 All other outstanding unvested equity awards held by the Founders, consisting of 4,000,000 RSUs granted in the fourth quarter of 2021 and 923,695 RSUs granted in the first quarter of 2022 to Mr. Mercer and 2,750,000 RSUs granted in the fourth quarter of 2021 and 742,972 RSUs granted in the first quarter of 2022 to Mr. Wendel were forfeited as of March 26, 2022. This resulted in the reversal of previously recognized stock-based compensation expense of approximately $0.7 million for Mr. Wendel and $1.0 million for Mr. Mercer related to the grants of RSUs for the year ended December 31, 2022. The incremental stock-based compensation and reversal of previously recorded stock-based compensation was recorded in selling, general and administrative in the consolidated statements of operations and comprehensive loss for the year ended December 31, 2022. Compensation expense Compensation expense related to stock-based awards was recorded in selling, general and administrative in the accompanying consolidated statements of operations and comprehensive loss for $30.0 million and $174.0 million for the years ended December 31, 2022 and 2021, respectively. Partial recourse promissory notes As of December 31, 2021, the Company had $0.2 million of promissory notes outstanding from employees and former employees, issued for 186,124 restricted stock purchases of Legacy Volta Class A common stock, and 365,605 shares of stock options exercisable for Legacy Volta Class B common stock, respectively. The two remaining outstanding promissory notes for the exercise of stock options represent the aggregate exercise price of the options and carry an interest rate of 2.26%, and the principal and interest are due upon the earlier of (i) the tenth anniversary of the note’s issuance, or (ii) the date of a change of control. The promissory notes issued are collateralized by the shares issued in exchange for the note and were considered to be partial recourse as they may be surrendered at the then fair market value of a share of common stock as determined by the Board. The remainder up to 50% of the value of the original principal of the notes is collateralized by the assets of the borrowers. The amount payable is not limited to the fair value of the shares at the time of default or maturity. As such, the shares are not considered exercised for accounting purposes and the shares issued are not reflected as outstanding in the consolidated financial statements until the notes are repaid and the underlying stock options have vested. The promissory notes with current employees were required to be settled upon the Closing. The notes associated with three former employees were not required to be settled upon the change of control and going public and two remained outstanding as of December 31, 2021 in accordance with the terms of each respective note. During the year ended December 31, 2022, amounts due from these former executives were settled by forfeiture of 71,454 shares value at $0.2 million.

Net Loss Per Share

Net Loss Per Share	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Net Loss Per Share	Note 12 - Net Loss Per Share Basic net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. For stock options that were exercised by employees issuing promissory notes to the Company, the shares of common stock issued under such exercises are not included in the calculation of basic net loss per share until the underlying promissory notes are fully paid or forgiven. Diluted net loss per share is computed in a similar manner, but it also includes the effect of potential common shares outstanding during the period, when dilutive. Potential common shares include outstanding stock options, warrants and RSUs. The dilutive effect of potentially dilutive common shares is reflected in diluted net loss per share by application of the treasury stock method for RSUs, stock options, and warrants. To the extent these potential common shares are antidilutive, they are excluded from the calculation of diluted net loss per share. The following table presents the computation of basic and diluted net loss per share for the periods presented: Year ended December 31, 2022 2021 Class A Common Shares Class B Common Shares Class A Common Shares Class B Common Shares Numerator: Net loss $ (150,505) $ (4,128) $ (242,163) $ (34,432) Denominator: Basic shares: Weighted-average common shares, basic 165,762,888 4,545,964 59,034,393 8,393,797 Diluted shares: Weighted-average common shares, diluted 165,762,888 4,545,964 59,034,393 8,393,797 Net loss per share attributable to common stockholders: Basic $ (0.91) $ (0.91) $ (4.10) $ (4.10) Diluted $ (0.91) $ (0.91) $ (4.10) $ (4.10) The following weighted average shares of the potentially dilutive outstanding securities for the year ended December 31, 2022 were excluded from the computation of diluted net loss per share because their effect would have been anti-dilutive given the net loss attributable to common shares. Therefore, the diluted net loss per share is the same as the basic net loss per share for the periods presented. As a result of the Reverse Recapitalization, the Company has retroactively adjusted the weighted-average number of shares of common stock outstanding then by multiplying them by the exchange ratio of approximately 1.2135 used to determine the number of shares of common stock into which they converted. The common stock issued as a result of the redeemable convertible preferred stock conversion on the Closing Date was included in the basic and diluted net loss per share calculation. Year ended December 31, 2022 2021 Anti-dilutive securities Outstanding stock options 6,336,542 30,602,803 Warrants for common stock 24,328,608 24,328,608 Options and RSAs exercised under notes receivables — 669,522 Unvested RSUs 18,391,859 29,688,046 Vested RSUs not yet released 173,303 — Total anti-dilutive securities 49,230,312 85,288,979

Leases

Leases	12 Months Ended
	Dec. 31, 2022
Lessee Disclosure [Abstract]
Leases	Note 13 - Leases The Company is a lessee in several noncancellable operating leases, primarily for office space and the use of spaces for the installation of its electric vehicle charging stations (“site leases”). These leases generally have an initial term ranging from five one Supplemental information related to leases within the consolidated balance sheets is as follows: December 31, 2022 December 31, 2021 Other operating leases information Weighted-average remaining lease term (years) 8.0 8.0 Weighted-average discount rate 11.2 % 11.7 % The Company received COVID-19 related rent concessions indicating that (i) the Company was not obligated to pay rent, or the entirety of the contractual rent, or (ii) the Company received interest-free rent deferrals for the period affected by lockdown measures. There were no such concessions recognized as negative variable lease cost for the years ended December 31, 2022 and 2021. The following lease costs were recognized in other operating (income) expenses within the accompanying consolidated statements of operations and comprehensive loss: Year ended December 31, 2022 2021 (in thousands) Operating lease costs Fixed lease cost $ 17,675 $ 11,944 Variable lease cost 479 252 Total operating lease costs $ 18,154 $ 12,196 Supplemental cash flow information related to leases is as follows: Year ended December 31, 2022 2021 (in thousands) Cash paid for amounts included in the measurement of lease liabilities Operating cash outflows from operating leases $ 15,641 $ 10,495 ROU assets obtained in exchange for lease obligations ROU assets obtained in exchange for operating lease liabilities $ 27,644 $ 29,036 Amounts disclosed for ROU assets obtained in exchange for lease obligations include amounts added to the carrying amount of ROU assets resulting from lease modifications and reassessments. Maturities of lease liabilities as of December 31, 2022 are as follows: Fiscal Year Leases (in thousands) 2023 18,795 2024 18,332 2025 16,807 2026 15,745 2027 15,569 Thereafter 47,061 Total undiscounted lease payments 132,309 Less imputed interest (43,701) Total lease liabilities $ 88,608 As of December 31, 2022, there are additional operating leases that have not yet commenced of $8.3 million. These operating leases are expected to commence between fiscal year 2023 and fiscal year 2025 with lease terms of five
Leases	Note 13 - Leases The Company is a lessee in several noncancellable operating leases, primarily for office space and the use of spaces for the installation of its electric vehicle charging stations (“site leases”). These leases generally have an initial term ranging from five one Supplemental information related to leases within the consolidated balance sheets is as follows: December 31, 2022 December 31, 2021 Other operating leases information Weighted-average remaining lease term (years) 8.0 8.0 Weighted-average discount rate 11.2 % 11.7 % The Company received COVID-19 related rent concessions indicating that (i) the Company was not obligated to pay rent, or the entirety of the contractual rent, or (ii) the Company received interest-free rent deferrals for the period affected by lockdown measures. There were no such concessions recognized as negative variable lease cost for the years ended December 31, 2022 and 2021. The following lease costs were recognized in other operating (income) expenses within the accompanying consolidated statements of operations and comprehensive loss: Year ended December 31, 2022 2021 (in thousands) Operating lease costs Fixed lease cost $ 17,675 $ 11,944 Variable lease cost 479 252 Total operating lease costs $ 18,154 $ 12,196 Supplemental cash flow information related to leases is as follows: Year ended December 31, 2022 2021 (in thousands) Cash paid for amounts included in the measurement of lease liabilities Operating cash outflows from operating leases $ 15,641 $ 10,495 ROU assets obtained in exchange for lease obligations ROU assets obtained in exchange for operating lease liabilities $ 27,644 $ 29,036 Amounts disclosed for ROU assets obtained in exchange for lease obligations include amounts added to the carrying amount of ROU assets resulting from lease modifications and reassessments. Maturities of lease liabilities as of December 31, 2022 are as follows: Fiscal Year Leases (in thousands) 2023 18,795 2024 18,332 2025 16,807 2026 15,745 2027 15,569 Thereafter 47,061 Total undiscounted lease payments 132,309 Less imputed interest (43,701) Total lease liabilities $ 88,608 As of December 31, 2022, there are additional operating leases that have not yet commenced of $8.3 million. These operating leases are expected to commence between fiscal year 2023 and fiscal year 2025 with lease terms of five

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 14 - Commitments and Contingencies Contingencies From time to time, the Company may become involved in claims and other legal matters, either asserted or unasserted, arising in the ordinary course of business. While the outcome of these claims cannot be predicted with certainty, management does not believe that the outcome of any of these ongoing legal matters, individually and in aggregate, will have a material adverse effect on the Company’s consolidated financial statements. Employee benefit plan The Company has a 401(k) defined contribution savings plan that covers substantially all of its employees. The Company contributes a matching contribution of 4% of the employee's salary each month under applicable safe harbor rules. Employee contribution is also limited by annual maximum amount determined by the Internal Revenue Service. The Company made contributions of $1.1 million and $1.0 million for the years ended December 31, 2022 and 2021, respectively. Purchasing Obligations In the normal course of business, Volta enters into contractual agreements of the purchase of goods and services to ensure availability and timely delivery. As of December 31, 2022, the Company does not have any firm, noncancellable, and unconditional purchase commitments with contract manufacturers and suppliers and therefore has not recorded a liability for any such commitments.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Note 15 - Income Taxes Loss before income taxes for the years ended December 31, 2022 and 2021 are as follows: Year ended December 31, 2022 2021 (in thousands) United States $ (152,250) $ (274,809) Foreign (2,381) (1,747) Loss before income taxes $ (154,631) $ (276,556) The provision for income taxes for the years ended December 31, 2022 and 2021 was immaterial, and the individual components (current and deferred, federal and state) were all individually immaterial as well. Year ended December 31, 2022 2021 (in thousands) Current: Federal $ — $ — State 2 24 International 15 Deferred: Federal — — State — — Total income tax provision $ 2 $ 39 The difference between the tax provision at the statutory federal income tax rate and the provision for (benefit from) income tax as a percentage of loss before income taxes (effective tax rate) for the years ended December 31, 2022 and 2021 was as follows: Year ended December 31, 2022 2021 (in thousands) Benefit from income taxes at U.S. federal statutory rate $ (31,741) $ (58,027) State statutory rate 2,160 (12,014) Foreign tax rate at statutory rate — 15 Foreign tax rate differential (193) (207) Change in valuation allowance 13,128 65,996 Stock-based compensation 20,137 1,987 Permanent differences 60 1,750 Change in fair value of warrant liability (5,486) 260 Alternative fuel vehicle credit (14,274) (2,706) Executive Compensation 10,367 — Tax accounting method changes 2,468 — Other 3,376 2,985 Total provision for (benefit from) income taxes $ 2 $ 39 The Company’s effective tax rate differs from the federal statutory rate primarily due to the change in valuation allowance and the alternative fuel vehicle credit. The components of net deferred tax assets as of December 31, 2022 and 2021 consisted of the following: Year ended December 31, 2022 2021 Deferred tax assets: (in thousands) Net operating loss carryovers $ 100,751 $ 67,756 Accruals, deferrals, and reserves 3,076 5,775 Operating lease liabilities 22,128 18,446 Stock compensation 6,400 32,601 Credits 25,776 11,502 Research and development expenses 85 — Interest Expense 1,205 — Gross deferred tax assets 159,421 136,080 Valuation allowance (124,741) (111,613) Gross deferred tax assets after valuation allowance $ 34,680 $ 24,467 Deferred tax liabilities Fixed Assets and intangibles $ (10,260) $ (5,068) Operating lease right-of-use assets (22,950) (19,399) Section 481(a) Adjustment (1,470) — Gross deferred tax liabilities $ (34,680) $ (24,467) Net deferred tax assets $ — $ — Management regularly assesses the ability to realize deferred tax assets recorded based upon the weight of available evidence, including such factors as recent earnings history and expected future taxable income on a jurisdiction by jurisdiction basis. In the event that the Company changes its determination as to the amount of realizable deferred tax assets, the Company will adjust its valuation allowance with a corresponding impact to the provision for income taxes in the period in which such determination is made. During the years ended December 31, 2022 and 2021, the valuation allowance increased by $13.1 million and $66.0 million, respectively. Utilization of the net operating loss and tax credit carryforwards may be subject to a substantial annual limitation due to the "ownership change" limitations provided by Section 382 and 383 of the Code and other similar state provisions. Any annual limitation may result in the expiration of net operating loss and tax credit carryforwards before utilization. As of December 31, 2022, the Company had federal, state, and foreign NOL carryforwards of approximately $393.5 million, $269.5 million (post apportionment), and $4.2 million respectively, as reported on its tax returns available to reduce future taxable income, if any. If not utilized, these federal and state NOL carryforwards will begin to expire in the year ending December 31, 2036. As a result of the Tax Cuts and Jobs Act of 2017, $376.0 million in federal NOL carryforwards do not have an expiration date. As of December 31, 2022, the Company also has Alternative Fuel Vehicle Credit carryforwards of $25.8 million that will begin to expire in the year ending December 31, 2036 if not utilized. The Company accounts for uncertain tax positions in accordance with accounting standards which clarifies the accounting for uncertainty in income taxes in an enterprise’s financial statements by defining the criterion that an individual tax position must meet for any part of the benefit of that position to be recognized in an enterprise’s financial statements. The accounting standard prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken on a tax return as well as guidance on de-recognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. The Company filed a tax accounting method change with its 2021 tax return. As a result, the Company released its uncertain tax position related to deferred revenue. As of December 31, 2022, the Company had no uncertain tax positions. The Company’s policy is to include penalties and interest related to income tax matters within the Company’s benefit from (provision for) income taxes. As of December 31, 2022, the Company had no material accrued interest and penalties related to uncertain tax positions. A reconciliation of beginning and ending amount of the gross unrecognized tax benefit is as follows: Year ended December 31, 2022 2021 (in thousands) Unrecognized Tax Benefits as of beginning of year $ 1,980 $ — Gross Increases - tax positions in prior period — 1,980 Gross decreases - tax positions in prior period (1,980) — Gross increases - tax positions in current period — — Settlement — — Lapse of statute of limitations — — Unrecognized Tax Benefits as end of year $ — $ 1,980

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2022
Related Party Transactions [Abstract]
Related party transactions	Note 16 - Related Party Transactions 2Predict, Inc. Prior to April 2021, the Company received services from 2Predict, a firm where a former Volta officer was a co-founder and Chief Executive Officer, and recognized expenses of $0.6 million for the year ended December 31, 2021, respectively, in selling, general and administrative in the consolidated statements of operations and comprehensive loss. As of December 31, 2021 the Company had no balance in accounts payable - due to related party for consulting services received as 2Predict, is no longer a related party as certain of its assets were acquired by the Company in April 2021 (see Note 4 - Acquisitions). Related party loans During the year ended December 31, 2021, the Company issued 3,891,256 shares of Legacy Volta Series D preferred stock which upon the Closing, were converted into shares of Legacy Volta Class B common stock, which were then converted into 4,722,039 shares of Class A common stock of the Company through a cashless exercise. Of the 3,891,256 shares of Legacy Volta Series D preferred stock, 2,032,271 shares were issued to 19 York Ventures, which Board member Martin Lauber is an officer of, and Energize Ventures, LLC, which Board member John Tough is an officer of, at $7.38 per share for total proceeds of $15.0 million, which upon the Closing, were converted into shares of Legacy Volta Class B common stock, which were then converted into 2,466,161 shares of the Company's Class A common stock (see Note 11 - Stockholders' (Deficit) Equity and Stock-Based Compensation). Promissory notes During the year ended December 31, 2021, the Company entered into promissory note agreements with certain executives where the Company loaned $8.6 million at an interest rate of 3.25%. The promissory notes with current employees were required to be settled upon the Closing. The notes associated with three former employees were not required to be settled upon the Reverse Recapitalization, however one of the notes has been settled while the other two remained outstanding as of December 31, 2021. (see Note 11 - Stockholders' (Deficit) Equity and Stock-Based Compensation). As of December 31, 2021, the Company had partial recourse promissory notes due from two former executives totaling $0.2 million. During the second quarter of 2022, amounts due from these former executives were settled by way of forfeiture of 71,454 shares valued at $0.2 million with an immaterial balance forgiven.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	Note 17 - Subsequent Events The Company has evaluated events subsequent to December 31, 2022 and through the date the financials are made available. The following events occurring subsequent to the consolidated balance sheet date merited recognition or disclosure in these statements. Agreement and Plan of Merger On January 17, 2023, Volta entered into the Merger Agreement with Shell and Merger Sub. The Merger Agreement provides that, upon the terms and subject to the conditions set forth in the Merger Agreement, Merger Sub will merge with and into Volta, with Volta continuing as the surviving corporation and as a wholly-owned subsidiary of Shell. Loan Agreement On January 17, 2023, Volta entered into a term loan, guarantee and security agreement (the "Equilon Loan Agreement") with Equilon Enterprises LLC d/b/a Shell Oil Products US, an affiliate of Shell ("Equilon"), concurrently with the execution of the Merger Agreement, pursuant to which Equilon has provided a subordinated secured delayed draw term loan facility to Volta and certain of Volta’s subsidiaries of up to $20 million, of which $20 million has been drawn as of March 30, 2023 (the "Equilon Loans"). Additional amounts are to be drawn in minimum increments of $5 million. The Equilon Loans shall mature on the earliest of (i) the acceleration of obligations by Equilon under the Equilon Loan Agreement, (ii) the later to occur of (x) the date that is 60 days after termination of the Merger Agreement in compliance with Article IX of the Merger Agreement (other than pursuant to a superior proposal), and (y) the date that is 91 days following maturity of the company’s existing senior credit facilities with EICF Agent LLC (the "EICF Loan Agreement"), (iii) the effective time of the merger with Shell and (iv) termination of the Merger Agreement in connection with a superior proposal. The Equilon Loans will bear interest at 15% per annum, increasing to 18% per annum three months after signing. Interest is capitalized (with monthly compounding). The default interest rate is an additional 2.0% per annum. Volta’s obligations under the Equilon Loan Agreement are secured by a second priority security interest in the assets securing Volta’s obligations under the EICF Loan Agreement. The Equilon Loan Agreement contains certain representations, covenants and events of default which are substantially based on the analogous provisions of the EICF Loan Agreement. Prior to a “trigger date”, only certain “key” representations, covenants and defaults are to be applicable under the Equilon Loan Agreement. A “trigger date” occurs upon the earlier of: (x) the date of acceptance of a superior proposal under the Merger Agreement and (y) the date of termination of the Merger Agreement.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Basis of presentation	The accompanying consolidated financial statements have been prepared in conformity with GAAP and include the accounts and operations of Volta Inc. and its wholly-owned subsidiaries. Volta Charging, LLC is the primary U.S. operating subsidiary of the Company.
Consolidation	All intercompany accounts and transactions have been eliminated upon consolidation.
Use of estimates	Use of estimates The preparation of consolidated financial statements in conformity with Generally Accepted Accounting Principles ("GAAP") requires the Company to make estimates, judgments and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Significant items subject to management’s estimates and assumptions include, but are not limited to, assumptions underlying the determination of the stand-alone selling (“SSP”) prices for performance obligations within revenue arrangements, the fair value of consideration payable to a customer in revenue arrangements, allowance for doubtful accounts, inventory valuation, stock-based compensation, tax valuation allowance, warrant valuation, incremental borrowing rate for right-of-use (“ROU”) assets and lease liabilities, lease term, the valuation and useful lives of property and equipment, goodwill and intangibles, term loan payable, and the valuation of assets acquired and liabilities assumed for the Reverse Recapitalization.
Segment reporting	Segment reporting For the years ended December 31, 2022 and 2021, the Company was managed as one operating segment as we only report financial information on an aggregate and consolidated basis to the interim CEO, our Chief Operating Decision Maker (“CODM”), who regularly reviews financial operating results on a consolidated basis for purposes of allocating resources and evaluating financial performance. Although the Company has different revenue streams, the CODM managed the Company as a whole and made decisions at the consolidated level. There are no segment managers who are held accountable for operations, operating results, and plans for components or types of products or services below the consolidated unit level. As of December 31, 2022, a substantial portion of our long-lived assets were located in the United States and a majority of our revenue was earned in the United States.
Reclassifications	Reclassifications Certain prior period amounts have been reclassified to conform to current period presentation. These reclassifications have no material effect on previously reported results of operations or loss per share.
Cash and cash equivalents	Cash and cash equivalents include on-demand deposits with banks and a mutual fund, respectively, for which cost approximates the fair value and restricted cash
Restricted cash	As of December 31, 2022 and December 31, 2021, there was $0 and $0.1 million restricted cash, respectively, held in escrow related to payments to contractors.
Accounts receivable and allowance for doubtful accounts	Accounts receivable and allowance for doubtful accounts Accounts receivable primarily include amounts related to receivables from our sales of media and installation of stations. We provide an allowance against accounts receivable for the amount we expect to be uncollectible. We write-off accounts receivable against the allowance when they are deemed uncollectible. Unbilled receivables result from amounts recognized as revenues but not yet invoiced as of the consolidated balance sheet date. The Company had $0.8 million in unbilled receivables as of December 31, 2022 and 2021 related to network development revenue, which are included in the accounts receivable balance on the accompanying consolidated balance sheets.
Concentration of risk	Concentration of risk Financial instruments that potentially subject the Company to a concentration of credit risk consist primarily of cash and accounts receivable. The Company’s cash is held on deposit with high-credit quality financial institutions. Such deposits may at times exceed federally insured limits. The Company has not experienced losses in accounts. As of December 31, 2022, four customers accounted for 22.0%, 13.0%, 13.0%, and 11.0% of the Company's accounts receivable balance, respectively. As of December 31, 2021, three customers accounted for 30.5%, 22.0% and 18.7% of the Company's accounts receivable balance, respectively. For the year ended December 31, 2022, two customers accounted for 21.3% and 16.2% of the Company's revenue, respectively. For the year ended December 31, 2021, two customers accounted for 27.4% and 12.1% of the Company's revenue, respectively. Revenue generated by these customers arises from a portfolio of contracts with multiple, separate, legal entities. The Company mainly mitigates concentration risk as all contracts are executed with these separate, legal entities. As of both December 31, 2022 and December 31, 2021, no vendor accounted for more than 10% of the Company's accounts payable orders. The Company mitigates concentration risk by maintaining contracts and agreements with alternative suppliers and is actively expanding its supplier network.
Fair value of financial instruments	Fair value of financial instruments The Company evaluates the fair value measurements of all financial assets and liabilities. Fair value is an exit price representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. A three-tiered hierarchy is established as a basis for considering such assumptions and for inputs used in the valuation methodologies in measuring fair value. This hierarchy requires that the Company use observable market data, when available, and minimize the use of unobservable inputs when determining fair value: • Level 1, observable inputs such as quoted prices in active markets; • Level 2, inputs other than the quoted prices in active markets that are observable either directly or indirectly; • Level 3, unobservable inputs in which there is little or no market data, which requires that the Company develop its own assumptions. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company's assessment of the significance of a particular input to the fair value measurements requires judgment and may affect the valuation of the assets and liabilities being measured and their placement within the fair value hierarchy.
Foreign currency	Foreign currency The functional currency of our foreign subsidiaries is the local currency or U.S. dollar depending on the nature of the subsidiaries' activities. Monetary assets and liabilities, and transactions denominated in currencies other than the functional currency are remeasured to the functional currency at the exchange rate in effect at the end of the period and are recorded in the current period consolidated statement of operations and comprehensive loss. Gains and losses resulting from remeasurement are recorded in foreign exchange gains (losses), net within other expense, net in the accompanying consolidated statement of operations and comprehensive loss. Subsidiary assets and liabilities with non-U.S. dollar functional currencies are translated at the month-end rate, retained earnings and other equity items are translated at historical rates, and revenues and expenses are translated at average exchange rates during the year. Cumulative translation adjustments are recorded within accumulated other comprehensive income, a separate component of total shareholders' (deficit) equity.
Inventory	Inventory Inventory consists of finished goods in the form of assembled charging stations. Inventory is measured using the first-in, first-out (“FIFO”) method and stated at the lower of cost or net realizable value as of December 31, 2022 and 2021. The value of inventories is reduced by estimates for excess and obsolete inventories. The estimate for excess and obsolete inventories is based upon management’s review of utilization of inventories in light of projected sales, current market conditions, and market trends. The Company monitors inventory to identify events that would require impairment due to obsolete inventory and adjusts the value of inventory when required. Inventory losses of $0.6 million were incurred during both the years ended December 31, 2022 and 2021.
Prepaid partnership costs	Prepaid partnership costsPrepaid partnership costs consist of licensing fees paid to site partners in Network Development arrangements for the exclusive right to display media on media-enabled charging stations in advance of the lease commencement date. Upon lease commencement, the costs are included in the right-of-use asset (“ROU”) asset balance.
Property and equipment	Property and equipment Property and equipment are stated at cost, less accumulated depreciation and amortization. The cost of maintenance and repairs is expensed as incurred, and expenditures that extend the useful lives of assets are capitalized. Charging stations, digital media screens, capitalized research and development equipment, computers and equipment, and furniture are depreciated and amortized using the straight-line method over the estimated useful lives of the respective assets. Leasehold improvements are depreciated using the straight-line method over the shorter of the estimated useful lives of the assets or the lease term, ranging from two Asset Useful Lives (In Years) Charging stations and digital media screens 5-10 Capitalized research and development equipment 2-5 Computers and equipment 3-5 Furniture 5 Leasehold improvements 2-5 Capitalized software 3 Construction in progress includes all costs capitalized related to projects, primarily related to installation of assets that have yet to be placed in service and in-process engineering activities. When assets are retired or otherwise disposed of, the cost and accumulated depreciation or amortization are removed from the consolidated balance sheets, and any resulting gain or loss is reflected in the consolidated statements of operations and comprehensive loss in the period realized. For the years ended December 31, 2022 and 2021, losses of $3.6 million and $1.9 million, respectively, related to construction in progress that was damaged or abandoned were recognized in other operating expenses in the accompanying consolidated statements of operations and comprehensive loss.
Capitalization of software costs	Capitalization of software costs and software implementation costs in a cloud computing arrangement The Company accounts for the costs of software developed for internal use by capitalizing costs incurred during the application development stage to property and equipment, net on the accompanying consolidated balance sheets. Costs related to preliminary project activities and post-implementation activities are expensed as incurred. The Company amortizes the capitalized costs of internal-use software on a straight-line basis over the estimated useful lives of the assets. The Company recognizes the amortization in depreciation and amortization in the accompanying consolidated statements of operations and comprehensive loss.
Intangible assets	Intangible assetsDefinite-lived intangible assets primarily consist of intellectual property, for which the weighted-average useful life is 1.5 to 9 years. Total amortization expense for capitalized software and capitalized software implementation costs within depreciation and amortization for the years ended December 31, 2022 and 2021 is $0.7 million and $0.6 million, respectively.
Impairment of long-lived assets and intangibles	Impairment of long-lived assets and intangibles Intangible assets with finite lives are amortized over their useful lives and reported net of accumulated amortization. The Company evaluates its long-lived assets and intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The recoverability of assets to be held and used is assessed by a comparison of the carrying amount of an asset to future net cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured as the amount by which the carrying amount of the assets exceeds the fair value of the assets. Although the Company has accumulated losses, the Company believes that the future cash flows will be sufficient to exceed the carrying value of the Company’s long-lived and intangible assets. As of December 31, 2022 and 2021, the Company determined that no events or changes in circumstances existed that would otherwise indicate any impairment of its long-lived or intangible assets.
Goodwill	Goodwill Goodwill represents the excess of the cost of an acquired entity over the fair value of the acquired net assets. The Company accounts for goodwill in accordance with Accounting Standards Update (“ASU”) 350, Intangibles - Goodwill and Other Intangible assets , which among other things, addresses financial accounting and reporting requirements for acquired goodwill and other intangible assets having indefinite useful lives. ASC 350 requires goodwill to be carried at cost, prohibits the amortization of goodwill and requires the Company to test goodwill for impairment at least annually. Volta evaluates its goodwill for impairment annually, in the fourth quarter, or more frequently if impairment indicators are present. A qualitative assessment is performed to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of the reporting unit is less than its carrying amount. If, based on the evaluation, it is determined to be more likely than not that the fair value is less than the carrying value, then the goodwill is tested further for impairment. If the implied fair value of goodwill is lower than its carrying amount, an impairment loss is recognized in an amount equal to the difference. There was no impairment of goodwill for the year ended December 31, 2022.
Leases	Leases The Company accounts for leases in accordance with ASC 842, Leases . The lease liabilities and corresponding ROU assets are recognized on the consolidated balance sheets. The Company determines if an arrangement contains a lease at inception. The Company recognizes an ROU asset and a lease liability at the lease commencement date for operating leases with terms greater than 12 months. ROU assets represent the Company's right to use an underlying asset for the lease term, and lease liabilities represent the obligation to make lease payments arising from the lease . The initial measurement of ROU assets is comprised of the initial amount of the lease liability, adjusted for lease payments made at or before the lease commencement date, plus any initial direct costs incurred, less any lease incentives received. ROU assets are subsequently measured throughout the lease term at the carrying amount of the lease liability, plus any initial direct costs, plus (less) any prepaid (accrued) lease payments, less the unamortized balance of lease incentives received. The lease expense is recognized on a straight-line basis over the lease term. The Company does not have material financing leases as of December 31, 2022. The interest rate used to determine the present value of the future lease payments is the Company's incremental borrowing rate as the Company generally cannot determine the implicit rate because it does not have access to the lessor's residual value or the amount of the lessor's deferred initial costs. The incremental borrowing rate is the interest rate the Company would have to pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms. Lease terms include the noncancellable period of the lease plus any additional periods covered by either an option to extend (or not to terminate) the lease that the Company is reasonably certain to exercise, or an option to extend (or not to terminate) the lease controlled by the lessor. Variable lease payments associated with the Company's leases are recognized when the event, activity, or circumstance in the lease agreement on which those payments are assessed occurs. Variable lease payments are recognized in other operating (income) expenses in the consolidated statements of operations and comprehensive loss. The Company identifies separate lease and non-lease components within the contract. Non-lease components primarily include payments for electricity reimbursements made to the landlord. The Company has elected the practical expedient to combine lease and non-lease payments and account for them together as a single lease component, which increases the amount of the Company's ROU assets and lease liabilities. During the fourth quarter of 2021, Volta changed the calculation of the short-term lease liability from a method that determines the short-term liability, net of interest, on a monthly basis to a method that determines the balance on a yearly basis, resulting in a decreased short-term liability balance and increased long-term liability balance. Diversity in practice exists in the absence of specific guidance on the method of calculating the short-term liability under ASC 842, and both the former and current approaches are considered acceptable. The impact from this change arises due to some monthly payments, net of interest, falling below zero and out of short-term liability classification, while those amounts would be included in short-term liability in an annual calculation of payments, net of interest. While the short-term and long-term lease liability balances are impacted by the change, the impact extends to classification and presentation only, and the total lease liability remains the same.
Debt issuance costs	Debt issuance costs The Company accounts for the costs incurred in connection with borrowings under financing facilities as deferred and amortized over the life of the related financing on a straight-line basis which approximates the effective interest method. During the years ended December 31, 2022 and 2021, the Company deferred and capitalized costs related to the issuance of the term loans approximating $0.6 million and $0, respectively, and amortized $0.4 million and $0.3 million for the years ended December 31, 2022 and 2021, respectively, of deferred debt issuance costs as interest expense, net, in the accompanying consolidated statements of operations and comprehensive loss (see Note 9 - Debt Facilities).
Equity issuance costs	Equity issuance costs Transaction costs related to issuing an equity instrument are accounted for as equity issuance costs and presented as a deduction from the carrying value of the equity instrument. Equity issuance costs are a reduction to the proceeds allocated to the equity component. For the year ended December 31, 2021, the Company raised $28.7 million through sales of Legacy Volta Series D Preferred Stock, resulting in $1.3 million of equity issuance costs, which was paid in cash. As a part of the Closing, all Legacy Volta Series D, Legacy Volta D-1 Preferred Stock, and Legacy Volta Class B common stock were converted to Volta Inc. Class A common stock (Note 11 - Stockholders' (Deficit) Equity and Stock-Based Compensation). On September 12, 2022, the Company filed a registration statement on Form S-3 (File No. 333-267374) with the SEC (declared effective by the SEC on September 20, 2022) which permits the Company to offer up to 500 million shares of Class A common stock, preferred stock,depository shares, debt securities, warrants and rights in one or more offerings and in any combination, including in units from time to time (the “Shelf Registration Statement”). As part of the Shelf Registration Statement, the Company filed a prospectus supplement registering for sale from time to time up to 150 million shares of our Class A common stock, par value $0.0001 per share, in “at-the-market” offerings pursuant to a Controlled Equity Offering Sales Agreement SM (the “Sales Agreement”) entered into on September 26, 2022, with a designated sales agent. As of December 31, 2022, the Company received $4.9 million of net proceeds from the sale and issuance of 4,251,284 shares of Class A common stock under the Sales Agreement, resulting in $0.4 million of equity issuance costs.
Stock warrants	Stock warrantsThe Company’s common stock warrants are freestanding warrants that were issued by Legacy Volta in connection with certain debt and equity financing transactions (“Legacy Volta Warrants”). At the Closing, the Legacy Volta Warrants were converted into warrants to purchase Volta Class A common stock (“Converted Warrants”). The Converted Warrants were classified as equity instruments at the grant date fair value calculated using the OPM Backsolve approach and were not subject to revaluation at the consolidated balance sheet date. Additionally, Tortoise Corp II sold Public Warrants and issued Private Warrants. The warrants are convertible to Volta Class A common stock. As of December 31, 2022, the Public Warrants are classified as equity instruments and are not subject to revaluation at the consolidated balance sheet date. As the Private Warrants do not meet the criteria for equity treatment, they are recorded as liabilities on the consolidated balance sheets. Accordingly, the Company classifies the Private Warrants as liabilities and records them at fair value, with the change recorded in the change in fair value of warrant liability in the accompanying consolidated statements of operations and comprehensive loss.
Revenue recognition	Revenue recognition Revenue is recognized when promised goods or services are transferred to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services by following a five-step process, (i) identify the contract with a customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price, and (v) recognize revenue when or as the Company satisfies a performance obligation. The Company generally considers a sales contract and/or agreement with an approved purchase order as a customer contract provided that collection is considered probable, which is assessed based on the creditworthiness of the customer. The Company combines contracts with a customer if contracts are entered into at or near the same time with the same customer and are negotiated with a single commercial substance or contain price dependencies. As it enters contracts with customers, the Company evaluates distinct goods and services promised in the contract to identify the appropriate performance obligations. The performance obligations include advertising services, charging stations, which include AC and DCFC stations, installation services, operation and maintenance services, installed infrastructure, regulatory credits and SaaS. The Company generally contracts with customers at fixed amounts and has not experienced significant returns or price concessions and discounts to contacted terms. To the extent the Company is entitled to variable consideration on the sale of goods or services, it will estimate the amount it expects to collect as part of the transaction price provided it is probable that a significant reversal of revenue will not occur when the uncertainty related to variable consideration is resolved. When a contract contains multiple performance obligations, the Company allocates the transaction price to each performance obligation using the relative SSP method. The determination of SSP is judgmental and is based on the price the Company would charge for the same good or service if it were sold separately in a standalone sale to similar customers in similar circumstances. As the charging stations, installation and operation and maintenance services are never sold separately, the Company utilizes an expected cost plus a margin approach to determine the SSP for each of the separate performance obligations. Revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for promised goods or services. For revenue generated from contracts with customers involving another party, the Company considers if we maintain control of the specified goods or services before they are transferred to the customer, as well as other indicators such as the party primarily responsible for fulfillment, collection risk, and discretion in establishing prices. When the Company controls the performance of contractual obligations to the customer, it records revenue at the gross amount paid by the customer with amounts paid as commissions to Agents as cost of services. Disaggregation of revenue The Company's operations represent a single operating segment based on how the Company and its CODM manage its business. The Company disaggregates revenue by major category in the table below based on what it believes are the primary economic factors that impact the nature, amount, timing, and uncertainty of revenue and cash flows from these customer contracts. Year ended December 31, 2022 2021 Revenues (in thousands) Media $ 44,008 $ 25,961 Network Development 9,246 5,224 Charging Network Operations 748 676 Network Intelligence 598 450 Total revenues $ 54,600 $ 32,311 Media Media revenue is generated based on the number of advertising impressions delivered over the contract term, which is typically less than one year. Media revenue is recorded in service revenue in the accompanying consolidated statements of operations and comprehensive loss. Network Development Network Development revenue consists of revenue generated through installation services, operation and maintenance services offered over the contract term, installed infrastructure for utility companies and charging station products. Revenue from installation services is recognized over time using an input method based on costs incurred to measure progress toward complete satisfaction of the performance obligation. Revenue from operation and maintenance services is recognized over the term of the arrangement as the services are performed. Revenue from the sale of installed infrastructure is recognized at a point in time when control of the installed infrastructure is transferred to the customer. Revenue from charging stations is recognized at the point in time when control of the charging station is transferred to the customer, which is typically when the charging station is delivered at the designated customer site. If the arrangement contains a lease, it is accounted for in accordance with ASC 842, Leases . In some arrangements, the Company has executed a sale and leaseback of the digital media screens (sale leaseback) and has also acquired the right to control the use of the location to advertise over a set term (location lease) (see Note 9 - Debt Facilities). During the construction phase, the Company does not control the underlying asset on the customer’s property. As the leaseback qualifies as a financing arrangement, the Company will not record a sale for accounting purposes of the digital media screen and will depreciate that asset over its useful life. For contractual payments that do not exceed the fair value of the location lease obligation, the Company records a lease liability and an associated ROU asset based on the discounted lease payments. In some instances, the Company may receive a lease incentive from the lessor which is recorded as a reduction to the ROU asset. The determination of the transaction price for Network Development revenue may require judgment and can affect the amount and timing of revenue. The transaction price is based on the consideration that the Company expects to be entitled to for providing the Network Development products and services on a standalone basis. Almost all the transaction price is based on fixed cash consideration received from customers. The transaction price is allocated between lease and non-lease components based on a relative-selling price basis. However, in arrangements where the Company pays consideration to a customer for a distinct good or service, the consideration payable to a customer is limited to the fair value of the distinct good or service received by the customer. If the contractual payments for the location lease of this arrangement are in excess of fair value, then the Company will estimate the excess contractual payments over fair value and record that amount as a reduction to the transaction price in the arrangement. The reduction to transaction price for consideration payable to a customer is recognized at the later of when the Company pays or promises to pay the consideration or when the Company recognizes the related revenue for the transferred products and services. The Company reduced the transaction price and recognized consideration payable to a customer of $0.4 million and $0.6 million for the years ended December 31, 2022 and 2021, respectively. The Company typically bills the customer upon contract inception for charging stations and installation services and bills the customer on a quarterly basis for operation and maintenance services. Payments are typically due within one month after billing. Revenue generated through infrastructure development services, installation services, operation and maintenance services and installed infrastructure is recorded in service revenue in the accompanying consolidated statements of operations and comprehensive loss. Revenue generated through charging station products is recorded in product revenue in the accompanying consolidated statements of operations and comprehensive loss. Charging Network Operations Charging Network Operations revenue correlates to usage of stations, and are currently, primarily generated by selling regulatory credits or LCFS credits to other regulated entities. The Company recognizes revenue from regulatory credits at the point in time when the regulatory credits are sold to the customer. Costs associated with Charging Network Operations are composed of a minor amount of personnel-related costs which is presented in selling, general and administrative in the accompanying consolidated statements of operations and comprehensive loss. Charging Network Operations revenue is recorded in other revenue in the accompanying consolidated statements of operations and comprehensive loss. Network Intelligence Network Intelligence revenue is generated through the delivery of SaaS to the customer as well as set up and one time fees. The Company recognizes Network Intelligence revenue ratably over the contract term on a time-elapsed basis as the SaaS is performed over the license period. Network Intelligence revenue is recorded in other revenue in the consolidated statements of operations and comprehensive loss. Most costs associated with Network Intelligence revenue qualify as internal use software and are capitalized and recorded within property and equipment, net on the accompanying consolidated balance sheets. Practical expedient and policy elected The Company utilized the practical expedient to not adjust the promised amount of consideration for the effects of a significant financing component if the Company generally expects, at contract inception, that the period between when the Company transfers control of the promised good or service and when the Company receives payment from the customer is within one year or less. At contract inception, the Company expects to complete installation and transfer control of media-enabled charging stations to customers and receive payment within one year of contract execution. The Company generally expects to fulfill media campaigns and receive payment for advertising sales within one year. The Company has elected to present revenue net of sales taxes remitted to government authorities. Remaining performance obligations Transaction price allocated to the remaining performance obligation represents contracted revenue that has not yet been recognized, which includes deferred revenue and unbilled receivable amounts that are expected to be recognized as revenue in future periods and excludes the performance obligations that are subject to cancellation Deferred revenue Deferred revenue primarily consists of billings or payments received from customers in advance of revenue recognized for the sale of media-enabled charging stations, and of installation and operation and maintenance services, and is recognized as revenue upon transfer control or as services are performed. The Company generally invoices customers in advance or in milestone-based installments. Revenue recognized for the years ended December 31, 2022 and 2021 that was included in the deferred revenue balance as of December 31, 2021 and 2020 was $8.1 million and $2.9 million, respectively. As of December 31, 2022, deferred revenue related to such customer payments amounted to $14.4 million, of which $13.6 million is expected to be recognized during the succeeding twelve-month period and is therefore presented as current. Costs to obtain a contract with a customer The Company elected to apply the practical expedient available under ASC 340-40, Other Assets and Deferred Costs - Contracts with Customer s, to not capitalize incremental costs of obtaining a contract, such as sales commissions, if the amortization period is less than one year. Commissions paid for certain sales of advertising are expensed as incurred because the amortization period would have been one year or less as most media campaigns are scheduled to run less than one year. Sales commissions are also paid for obtaining a network development contract with a site host that purchases media-enabled charging stations and related services. As the typical contract term for these agreements exceeds one year, the Company does not apply this practical expedient. Sales commissions that are considered incremental and recoverable costs of obtaining a contract with a customer are capitalized and included in prepaid expenses and other current assets and other non-current assets on the consolidated balance sheets. The deferred costs are then amortized over the period of benefit consistent with the transfer of the goods and services to the customer to which the asset relates and is included in selling general, and administrative in the consolidated statements of operations and comprehensive loss. The ending balances of assets recognized from costs of obtaining a contract with a customer were $0.04 million included in prepaid expenses and other current assets for both years as of December 31, 2022 and 2021, respectively, and $0.2 million and $0.3 million included in other non-current assets for the years ended as of December 31, 2022 and 2021, respectively. Amortization expense related to assets recognized from costs to obtain a contract with a customer was $0.01 million and $0.1 million for the years ended December 31, 2022 and 2021, respectively. The Company did not recognize any contract cost impairment losses for the years ended December 31, 2022 and 2021.
Cost of revenues (excluding depreciation and amortization)	Cost of revenues (excluding depreciation and amortization) Costs of services Costs of services consist of costs attributable to the Network Development revenue and Media revenue. Costs associated with Network Development consist of costs associated with providing installation, operations and maintenance services, including personnel-related costs associated with delivering services, such as salaries and benefits, and costs to install infrastructure for utility companies. Costs associated with Media revenue consist of costs associated with providing advertising services, including related rental payments on location leases for the advertising displays, charging sites, station electricity, and labor costs directly related to service revenue-generating activities. Costs of products Costs of products consists primarily of hardware cost and shipping cost. Hardware cost primarily relates to AC and DCFC stations which includes the cost of station chassis, the electric vehicle chargers, media screens, sensors, routers, and computers.
Selling, general and administrative	Selling, general and administrativeSelling, general and administrative consists primarily of employee-related costs, including salaries, employee benefits, and stock-based compensation, repair and maintenance expenses on corporate facilities and equipment and marketing. Selling, general and administrative also consist of rebates and incentives received from utility companies for the installation of electric vehicle charging stations and related infrastructure. Additionally, for the years ended December 31, 2022 and 2021 research and development expenses included in selling, general and administrative were $0.9 million and $1.2 million, respectively.
Advertising expenses	Advertising expenses The Company expenses advertising expenses as they are incurred. For both the years ended December 31, 2022 and 2021, advertising expenses were $1.3 million, and are included in selling, general and administrative in the accompanying consolidated statements of operations and comprehensive loss. The Company does not capitalize any advertising expenses.
Other expenses, net	Other expenses, net Other expenses, net, consist primarily of the miscellaneous expenses or income that are not related to core business operations. For the years ended December 31, 2022 and 2021, other expenses, net primarily relate to property taxes.
Income taxes	Income taxes The Company uses the liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are determined based on differences between financial reporting and tax reporting bases of assets and liabilities and are measured using enacted tax rates and laws that are expected to be in effect when the differences are expected to reverse. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts more likely than not expected to be realized. Management regularly assesses the ability to realize deferred tax assets recorded based upon the available evidence, including such factors as recent earnings history and expected future taxable income on a jurisdiction-by-jurisdiction basis. In the event that the Company changes its determination as to the amount of realizable deferred tax assets, the Company will adjust its valuation allowance with a corresponding impact to the provision for income taxes in the period in which such determination is made. The Company accounts for uncertain tax positions in accordance with accounting standards which clarifies the accounting for uncertainty in income taxes in an enterprise’s financial statements by defining the criterion that an individual tax position must meet for any part of the benefit of that position to be recognized in an enterprise’s financial statements. The accounting standard prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken on a tax return as well as guidance on de-recognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. As of December 31, 2021, the Company recorded $2.0 million as an uncertain tax position related to deferred revenue. This uncertain tax position was released during the year ended December 31, 2022. The
Stock-based compensation	Stock-based compensationThe Company accounts for all share-based payment awards granted to employees and non-employees based on the fair value of the awards on the date of the grant. For service-based awards, stock-based compensation is recognized in the consolidated statements of operations and comprehensive loss over the period during which the employee is required to perform service in exchange for the award (generally the vesting period of the award). The Company estimates the fair value of stock options on the date of grant using the Black-Scholes OPM. The grant-date fair value of option awards is based upon the fair value of the Company’s common stock as of the date of grant, as well as estimates of the expected term of the awards, expected common stock price volatility over the expected term of the option awards, risk-free interest rates and expected dividend yield. Forfeitures are recognized as they occur. Compensation cost is recognized over the vesting period of the applicable award using the straight-line method. For service and performance-based restricted stock units and awards, the fair value is based on the closing price for the Company's common stock on the date of the grant. Compensation cost for service-based awards is recognized on a straight-line basis over the requisite service period. Compensation cost for performance-based awards is recognized on a straight-line basis over the requisite service period if it is probable that the performance condition will be satisfied given the awards vest upon achievement of the performance condition. For market-based awards, the fair value is measured on the grant date using a Binomial Lattice Valuation Model (“BLM”). The requisite service period is also determined through the use of a BLM. Compensation cost associated with awards granted with market-based vesting conditions is recognized over the requisite service period for each tranche using the accelerated attribution method even if the market condition is never satisfied.
Comprehensive loss and accumulated other comprehensive income	Comprehensive loss and accumulated other comprehensive incomeThe components of comprehensive loss consist of net loss and changes in foreign currency exchange rate translation. The changes in foreign currency exchange rate translation are excluded from earnings and reported as a component of stockholders’ (deficit) equity. The foreign currency translation adjustment results from those subsidiaries not using the United States dollar as their functional currency since the majority of their economic activities are primarily denominated in their applicable local currency. Accordingly, all assets and liabilities related to these operations are translated at the current exchange rates at the end of each period, whereas revenues and expenses are translated at average exchange rates in effect during the period. The resulting cumulative translation adjustments are recorded directly to the accumulated other comprehensive income account in stockholders’ (deficit) equity. For the years ended December 31, 2022 and 2021, the Company had total comprehensive loss of $154.3 million and $276.4 million, respectively, and accumulated other comprehensive income of $0.5 million and $0.2 million, respectively.
COVID-19 impact	COVID-19 impact On January 30, 2020, the World Health Organization (“WHO”) announced a global health emergency because of COVID-19. In March 2020, the WHO classified the COVID-19 outbreak as a pandemic, based on the rapid increase in exposure globally. The COVID-19 pandemic may continue to have a negative impact on the operations and customers of the Company. The impact on the business and the results of operations included decreased customer demand for advertising space due to the decrease in foot traffic at the site hosts as consumers were subject to stay at home and shelter-in-place orders around the United States, as well as the temporary halting of construction activities of the charging stations. In addition, the ability of the employees and the suppliers' and customers' employees to work may be impacted by individuals contracting or being exposed to COVID-19, which may significantly hamper the operations. Despite the adverse impacts, there are no indications that the COVID-19 pandemic has resulted in a material decline in the carrying value of any assets, or a material change in the estimate of any contingent amounts recorded in the consolidated balance sheet as of December 31, 2022. However, there is uncertainty as to the duration and overall impact of the COVID-19 pandemic. The consolidated financial statements reflect estimates and assumptions made by management as of December 31, 2022 and management continues to monitor the potential impact. Events and changes in circumstances arising after December 31, 2022, including those resulting from the
Recent accounting pronouncements	Recent accounting pronouncements In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326) : Measurement of Credit Losses on Financial Instruments

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Schedule of property plant and equipment, useful life	Asset Useful Lives (In Years) Charging stations and digital media screens 5-10 Capitalized research and development equipment 2-5 Computers and equipment 3-5 Furniture 5 Leasehold improvements 2-5 Capitalized software 3
Schedule of disaggregation of revenue	The Company disaggregates revenue by major category in the table below based on what it believes are the primary economic factors that impact the nature, amount, timing, and uncertainty of revenue and cash flows from these customer contracts. Year ended December 31, 2022 2021 Revenues (in thousands) Media $ 44,008 $ 25,961 Network Development 9,246 5,224 Charging Network Operations 748 676 Network Intelligence 598 450 Total revenues $ 54,600 $ 32,311

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Schedule of financial instruments measured at fair value	The following tables present information about the Company’s liabilities that are measured at fair value on a recurring basis and indicate the fair value hierarchy of the valuation techniques that the Company utilized to determine such fair value. Carrying Amount Total Level 1 Level 2 Level 3 December 31, 2021 (in thousands) Liabilities Senior secured term loan $ 39,995 $ 41,242 $ — $ 41,242 $ — Private warrants 11,036 11,036 — — 11,036 Public warrants 16,036 16,036 16,036 — — Total $ 67,067 $ 68,314 $ 16,036 $ 41,242 $ 11,036 December 31, 2022 Liabilities Senior secured term loan $ 12,483 $ 12,923 $ — $ 12,923 $ — Private warrants 386 386 — — 386 Total $ 12,869 $ 13,309 $ — $ 12,923 $ 386
Schedule of fair value measurement inputs and valuation techniques	The following table provides quantitative information regarding Level 3 Private Warrants fair value measurement inputs at their measurement dates: December 31, 2022 December 31, 2021 Expected dividend yield — % — % Risk-free interest rate 4.10 % 1.18 % Expected volatility 214.40 % 132.50 % Expected term (in years) 3.65 4.5
Schedule of derivative liabilities at fair value	The changes in the fair value of the Private Warrants were as follows: (in thousands) December 31, 2020 $ 698 Increase in fair value of Preferred Stock warrants 1,246 Release of liability upon exercise of Preferred Stock warrants (1,944) Addition of Private Warrants 11,036 Decrease in fair value of Private warrants — December 31, 2021 $ 11,036 Decrease in fair value of Private warrants (10,650) December 31, 2022 $ 386 Private Warrants Public Warrants Total Public and Private Common Stock Warrants Outstanding at December 31, 2020 — — — Common stock warrants added upon the Reverse Recapitalization 5,933,333 8,621,715 14,555,048 Warrants exercised — (275) (275) Outstanding at December 31, 2021 5,933,333 8,621,440 14,554,773 Warrants exercised — — — Outstanding at December 31, 2022 5,933,333 8,621,440 14,554,773

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Schedule of property and equipment	Property and equipment, net, as of December 31, 2022 and 2021, consists of the following: December 31, 2022 December 31, 2021 (in thousands) Charging stations and digital media screens $ 131,107 $ 79,104 Construction in progress: station hardware 100,895 33,434 Capitalized research and development equipment 2,451 2,689 Leasehold improvements 1,990 856 Computer and office equipment 1,727 1,459 Capitalized software 1,622 888 Development in progress: software 4,573 86 Furniture 229 229 Other fixed assets 4,573 3,736 Total property and equipment 249,167 122,481 Less accumulated depreciation and amortization (41,821) (24,753) Property and equipment, net $ 207,346 $ 97,728

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	12 Months Ended
	Dec. 31, 2022
Payables and Accruals [Abstract]
Schedule of accrued expenses and other current liabilities	Accrued expenses and other current liabilities as of December 31, 2022 and 2021 consists of the following: December 31, 2022 December 31, 2021 (in thousands) Charging station expenses $ 10,499 $ 5,393 Lease incentive liability 1,746 2,354 Employee related expenses 6,374 9,239 Deposit liability — 850 Accrued interest — 1,294 Severance 325 — Other 501 1,038 Total accrued expenses and other liabilities $ 19,445 $ 20,168

Debt Facilities (Tables)

Debt Facilities (Tables)	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Schedule of long-term debt	The Company’s outstanding debt instruments as of December 31, 2022 and 2021 are as follows: December 31, 2022 December 31, 2021 (in thousands) Term loans payable $ 12,923 $ 40,833 Less current maturities, net of debt issuance 12,483 15,998 Less unamortized debt issuance costs, non-current portion 440 838 Total loans payable, net of unamortized debt issuance costs and current term loan payable $ — $ 23,997
Schedule of maturities of long-term debt	Term loan payments by period as of December 31, 2022 are as follows: Fiscal Year (in thousands) 2023 12,923 $ 12,923 As of December 31, 2022 future payments under financing obligations were as follows: Fiscal Year (in thousands) 2023 $ 1,198 2024 1,215 2025 810 2026 408 Thereafter 529 Total future payments 4,160 Less amount representing interest 883 Total financing obligations $ 3,277

Warrants (Tables)

Warrants (Tables)	12 Months Ended
	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of derivative liabilities at fair value	The changes in the fair value of the Private Warrants were as follows: (in thousands) December 31, 2020 $ 698 Increase in fair value of Preferred Stock warrants 1,246 Release of liability upon exercise of Preferred Stock warrants (1,944) Addition of Private Warrants 11,036 Decrease in fair value of Private warrants — December 31, 2021 $ 11,036 Decrease in fair value of Private warrants (10,650) December 31, 2022 $ 386 Private Warrants Public Warrants Total Public and Private Common Stock Warrants Outstanding at December 31, 2020 — — — Common stock warrants added upon the Reverse Recapitalization 5,933,333 8,621,715 14,555,048 Warrants exercised — (275) (275) Outstanding at December 31, 2021 5,933,333 8,621,440 14,554,773 Warrants exercised — — — Outstanding at December 31, 2022 5,933,333 8,621,440 14,554,773

Stockholders_ Deficit and Sto_2

Stockholders’ Deficit and Stock-based Compensation (Tables)	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Schedule of Stock by Class	The following summarized the Company’s Preferred Stock conversion immediately after the Reverse Recapitalization: Preferred Shares Conversion Ratio Common stock Series A redeemable convertible Preferred Stock 7,363,856 1.2135 8,936,039 Series B redeemable convertible Preferred Stock 11,090,568 1.2135 13,458,404 Series C redeemable convertible Preferred Stock 18,581,768 1.2135 22,548,976 Series C-1 redeemable convertible Preferred Stock 665,428 1.2135 807,497 Series C-2 redeemable convertible Preferred Stock 7,675,798 1.2135 9,314,581 Series D redeemable convertible Preferred Stock 13,266,042 1.2135 16,098,342 Series D-1 redeemable convertible Preferred Stock 8,283,574 1.2135 10,052,117 Total 66,927,034 81,215,956
Schedule of common stock shares outstanding	Company’s common stock outstanding Authorized Shares Issued and Outstanding Shares December 31, 2022 Volta Class A common stock 350,000,000 174,198,246 Volta Class B common stock 50,000,000 — Total Common Stock 400,000,000 174,198,246 December 31, 2021 Volta Class A common stock 350,000,000 152,218,214 Volta Class B common stock 50,000,000 9,887,185 Total Common Stock 400,000,000 162,105,399
Schedule of common stock, capital shares reserved for future issuance	The Company has the following shares of common stock reserved for future issuance, on an as-if converted basis: December 31, 2022 December 31, 2021 2022 ATM Plan Reserve 70,748,716 — Shares available for grant – 2021 Equity incentive plan 25,500,119 14,357,382 Unvested restricted stock units 18,391,859 29,688,046 Legacy Volta Class A common stock warrants 9,773,835 9,773,835 Options outstanding 6,336,542 11,464,745 Outstanding Public Warrants 8,621,440 8,621,440 Outstanding Private Warrants 5,933,333 5,933,333 Shares available for purchase - 2021 ESPP plan 3,715,944 3,715,944 Vested restricted stock units, not yet released 173,303 — Total shares of common stock reserved 149,195,091 83,554,725
Schedule of option award activity	Stock option activity and activity regarding shares available for grant under the Plan is as follows: Number of options outstanding Weighted-average exercise price per share Weighted-average remaining contractual life Aggregate intrinsic value (in years) (in thousands) January 1, 2021 17,558,731 $ 0.93 8.2 $ 30,881 Options granted 7,248,934 3.93 Options exercised (12,796,353) 0.79 Options forfeited (544,526) 2.53 Options expired (2,022) 0.73 December 31, 2021 11,464,764 $ 2.66 8.3 $ 53,695 Options granted — — — $ — Options exercised (1,743,072) 0.70 Options forfeited (2,770,238) 3.76 Options expired (598,689) 2.74 December 31, 2022 6,352,765 $ 2.70 7.0 $ 16 Options vested and exercisable as of December 31, 2021 4,830,158 $ 1.30 7.4 $ 29,176 Options vested and exercisable as of December 31, 2022 4,828,793 $ 2.37 6.8 $ 16
Schedule of restricted stock unit activity	A summary of the RSU activity for the year ended December 31, 2022 was as follows: Number of shares Weighted-average grant date fair value January 1, 2021 — $ — RSUs granted 29,763,009 10.70 RSUs vested — — RSUs forfeited (75,000) 12.10 December 31, 2021 29,688,009 $ 10.70 RSUs granted 15,127,877 2.89 RSUs vested (11,558,324) 8.90 RSUs forfeited (14,865,703) 8.44 December 31, 2022 18,391,859 $ 7.83 A summary of the restricted stock award activity for the year ended December 31, 2022 was as follows: Number of shares Weighted-average grant date fair value January 1, 2021 RSAs granted 6,916,950 $ 5.82 RSAs vested (6,916,950) $ 5.82 RSAs forfeited — $ — December 31, 2021 — $ —
Schedule of share-based payment award, stock options, valuation assumptions	The weighted-average assumptions that were used in calculating such values during the year ended December 31, 2021 were as follows: Year ended December 31, 2021 Expected dividend yield — % Risk-free interest rate 0.7 % Expected volatility 60.4 % Expected term (in years) 5.8 Year ended December 31, 2022 2021 Expected dividend yield — % — % Risk-free interest rate 1.5 % 1.3 % Expected volatility 90.0 % 95.0 % Expected term (in years) 4.6 4.8 incremental expense for the modified vested stock options during the year ended December 31, 2022 were as follows: Year Ended December 31, 2022 Expected dividend yield — % Risk-free interest rate 1.2% - 2.9% Expected volatility 52.4% - 61.9% Expected term (in years) 0.3 - 8.6 Assumptions used to calculate incremental expense for the modified market-based RSUs using a Monte Carlo valuation during the year ended December 31, 2022 were as follows: Year Ended December 31, 2022 Expected dividend yield — % Risk-free interest rate 2.5 % Expected volatility 90.0 % Expected term (in years) 4.4
Schedule of stock-based compensation expense	The components of stock-based compensation expense recorded with respect to the modified awards are as follows: (in thousands) Year Ended December 31, 2022 Reversal of previously recorded RSU expense $ (605) Incremental expense for modified RSUs 1,018 Incremental expense for modified stock options 804 Total stock-based compensation expense $ 1,217 The components of stock-based compensation expense recorded for modified awards are as follows: Year Ended December 31, 2022 (in thousands) Chris Wendel Scott Mercer (a) Reversal of previously recorded market-based RSU expense $ (9,879) $ (11,526) Incremental expense for modified market-based RSUs 13,290 15,505 Incremental expense for modified stock options 3,662 3,451 Total stock-based compensation expense $ 7,073 $ 7,430 (a) For Mr. Mercer’s stock options, the Company recorded stock-based compensation expense of 0.1 million for the year ended December 31, 2022 for awards that continued to vest until his termination on April 15, 2022.

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Schedule of earnings per share, basic and diluted	The following table presents the computation of basic and diluted net loss per share for the periods presented: Year ended December 31, 2022 2021 Class A Common Shares Class B Common Shares Class A Common Shares Class B Common Shares Numerator: Net loss $ (150,505) $ (4,128) $ (242,163) $ (34,432) Denominator: Basic shares: Weighted-average common shares, basic 165,762,888 4,545,964 59,034,393 8,393,797 Diluted shares: Weighted-average common shares, diluted 165,762,888 4,545,964 59,034,393 8,393,797 Net loss per share attributable to common stockholders: Basic $ (0.91) $ (0.91) $ (4.10) $ (4.10) Diluted $ (0.91) $ (0.91) $ (4.10) $ (4.10)
Schedule of antidilutive securities excluded from computation of earnings per share	The following weighted average shares of the potentially dilutive outstanding securities for the year ended December 31, 2022 were excluded from the computation of diluted net loss per share because their effect would have been anti-dilutive given the net loss attributable to common shares. Therefore, the diluted net loss per share is the same as the basic net loss per share for the periods presented. As a result of the Reverse Recapitalization, the Company has retroactively adjusted the weighted-average number of shares of common stock outstanding then by multiplying them by the exchange ratio of approximately 1.2135 used to determine the number of shares of common stock into which they converted. The common stock issued as a result of the redeemable convertible preferred stock conversion on the Closing Date was included in the basic and diluted net loss per share calculation. Year ended December 31, 2022 2021 Anti-dilutive securities Outstanding stock options 6,336,542 30,602,803 Warrants for common stock 24,328,608 24,328,608 Options and RSAs exercised under notes receivables — 669,522 Unvested RSUs 18,391,859 29,688,046 Vested RSUs not yet released 173,303 — Total anti-dilutive securities 49,230,312 85,288,979

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2022
Lessee Disclosure [Abstract]
Schedule of supplemental balance sheets information	Supplemental information related to leases within the consolidated balance sheets is as follows: December 31, 2022 December 31, 2021 Other operating leases information Weighted-average remaining lease term (years) 8.0 8.0 Weighted-average discount rate 11.2 % 11.7 %
Schedule of lease cost	The following lease costs were recognized in other operating (income) expenses within the accompanying consolidated statements of operations and comprehensive loss: Year ended December 31, 2022 2021 (in thousands) Operating lease costs Fixed lease cost $ 17,675 $ 11,944 Variable lease cost 479 252 Total operating lease costs $ 18,154 $ 12,196
Schedule of supplemental cash flows information	Supplemental cash flow information related to leases is as follows: Year ended December 31, 2022 2021 (in thousands) Cash paid for amounts included in the measurement of lease liabilities Operating cash outflows from operating leases $ 15,641 $ 10,495 ROU assets obtained in exchange for lease obligations ROU assets obtained in exchange for operating lease liabilities $ 27,644 $ 29,036
Schedule of maturity of operating lease liability	Maturities of lease liabilities as of December 31, 2022 are as follows: Fiscal Year Leases (in thousands) 2023 18,795 2024 18,332 2025 16,807 2026 15,745 2027 15,569 Thereafter 47,061 Total undiscounted lease payments 132,309 Less imputed interest (43,701) Total lease liabilities $ 88,608

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of Loss Before Income Taxes	Loss before income taxes for the years ended December 31, 2022 and 2021 are as follows: Year ended December 31, 2022 2021 (in thousands) United States $ (152,250) $ (274,809) Foreign (2,381) (1,747) Loss before income taxes $ (154,631) $ (276,556)
Schedule of Components of Income Tax Expense (Benefit)	The provision for income taxes for the years ended December 31, 2022 and 2021 was immaterial, and the individual components (current and deferred, federal and state) were all individually immaterial as well. Year ended December 31, 2022 2021 (in thousands) Current: Federal $ — $ — State 2 24 International 15 Deferred: Federal — — State — — Total income tax provision $ 2 $ 39
Schedule of Effective Income Tax Rate Reconciliation	The difference between the tax provision at the statutory federal income tax rate and the provision for (benefit from) income tax as a percentage of loss before income taxes (effective tax rate) for the years ended December 31, 2022 and 2021 was as follows: Year ended December 31, 2022 2021 (in thousands) Benefit from income taxes at U.S. federal statutory rate $ (31,741) $ (58,027) State statutory rate 2,160 (12,014) Foreign tax rate at statutory rate — 15 Foreign tax rate differential (193) (207) Change in valuation allowance 13,128 65,996 Stock-based compensation 20,137 1,987 Permanent differences 60 1,750 Change in fair value of warrant liability (5,486) 260 Alternative fuel vehicle credit (14,274) (2,706) Executive Compensation 10,367 — Tax accounting method changes 2,468 — Other 3,376 2,985 Total provision for (benefit from) income taxes $ 2 $ 39
Schedule of Deferred Tax Assets and Liabilities	The components of net deferred tax assets as of December 31, 2022 and 2021 consisted of the following: Year ended December 31, 2022 2021 Deferred tax assets: (in thousands) Net operating loss carryovers $ 100,751 $ 67,756 Accruals, deferrals, and reserves 3,076 5,775 Operating lease liabilities 22,128 18,446 Stock compensation 6,400 32,601 Credits 25,776 11,502 Research and development expenses 85 — Interest Expense 1,205 — Gross deferred tax assets 159,421 136,080 Valuation allowance (124,741) (111,613) Gross deferred tax assets after valuation allowance $ 34,680 $ 24,467 Deferred tax liabilities Fixed Assets and intangibles $ (10,260) $ (5,068) Operating lease right-of-use assets (22,950) (19,399) Section 481(a) Adjustment (1,470) — Gross deferred tax liabilities $ (34,680) $ (24,467) Net deferred tax assets $ — $ —
Schedule of Reconciliation of Gross Unrecognized Tax Benefit	A reconciliation of beginning and ending amount of the gross unrecognized tax benefit is as follows: Year ended December 31, 2022 2021 (in thousands) Unrecognized Tax Benefits as of beginning of year $ 1,980 $ — Gross Increases - tax positions in prior period — 1,980 Gross decreases - tax positions in prior period (1,980) — Gross increases - tax positions in current period — — Settlement — — Lapse of statute of limitations — — Unrecognized Tax Benefits as end of year $ — $ 1,980

Description of Business (Detail

Description of Business (Details) - USD ($)		12 Months Ended
	Feb. 07, 2021	Dec. 31, 2022	Dec. 31, 2021	Sep. 12, 2022
Description Of Business Disclosure [Line Items]
Consideration received	$ 350,100,000
Payments of equity issuance costs		$ 0	$ 1,290,000
Class A Common Stock
Description Of Business Disclosure [Line Items]
Common stock, par value (in dollars per share)		$ 0.0001	$ 0.0001
Net proceeds from sale of stock		$ 4,900,000
Stock issued (in shares)		4,251,284
Payments of equity issuance costs		$ 400,000
Scenario, Plan | Class A Common Stock
Description Of Business Disclosure [Line Items]
Consideration received		$ 150,000,000
Maximum
Description Of Business Disclosure [Line Items]
Authorized amount				$ 500,000,000

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Details)	12 Months Ended
	Dec. 31, 2022 USD ($) numberOfSegment	Dec. 31, 2021 USD ($) numberOfSegment	Dec. 31, 2020 USD ($)
Accounting Policies [Line Items]
Number of operating segments | numberOfSegment	1	1
Restricted cash	$ 0	$ 100,000
Unbilled receivables	800,000	800,000
Bad debt expense	42,000	0
Inventory losses	600,000	600,000
Impairment of intangible assets	0	0
Impairment of goodwill	0
Contract with customer, liability	14,400,000
Remaining performance obligation, amount	$ 30,600,000
Percent of remaining performance obligations to be recognized as revenues next twelve months	51%
Revenue recognized	$ 8,100,000	2,900,000
Deferred revenue	13,584,000	8,450,000
Amortization expense	10,000	100,000
Impairment loss	0	0
Research and development expense	900,000	1,200,000
Advertising expense	1,300,000	1,300,000
Unrecognized tax position	0	1,980,000	$ 0
Total comprehensive loss	(154,322,000)	(276,382,000)
Accumulated other comprehensive income	524,000	213,000
Prepaid Expenses and Other Current Assets
Accounting Policies [Line Items]
Contract with customer, asset, purchase	40,000	40,000
Other Noncurrent Assets
Accounting Policies [Line Items]
Contract with customer, asset, purchase	200,000	300,000
Unbilled Revenues
Accounting Policies [Line Items]
Contract with customer, liability	$ 800,000	800,000
2Predict, Inc.
Accounting Policies [Line Items]
Definite-lived intangible asset, useful life	1 year 6 months
Finite-lived intangibles, amortization	$ 700,000	$ 600,000
2Predict, Inc. | Minimum
Accounting Policies [Line Items]
Definite-lived intangible asset, useful life	1 year 6 months
2Predict, Inc. | Maximum
Accounting Policies [Line Items]
Definite-lived intangible asset, useful life	9 years

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Concentration of Risk (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Customer Concentration Risk | Accounts Receivable | Customer One
Concentration Risk [Line Items]
Concentration risk, percentage	13%	30.50%
Customer Concentration Risk | Accounts Receivable | Customer Two
Concentration Risk [Line Items]
Concentration risk, percentage	13%	22%
Customer Concentration Risk | Accounts Receivable | Customer Three
Concentration Risk [Line Items]
Concentration risk, percentage	22%	18.70%
Customer Concentration Risk | Accounts Receivable | Customer Four
Concentration Risk [Line Items]
Concentration risk, percentage	11%
Customer Concentration Risk | Revenue from Contract with Customer | Customer One
Concentration Risk [Line Items]
Concentration risk, percentage	16.20%	27.40%
Customer Concentration Risk | Revenue from Contract with Customer | Customer Two
Concentration Risk [Line Items]
Concentration risk, percentage	21.30%	12.10%
Supplier Concentration Risk | Accounts Payable | Supplier One
Concentration Risk [Line Items]
Concentration risk, percentage	0%	0%

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Property and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense (excluding intangibles amortization)	$ 18.6	$ 10.6
Charging stations and digital media screens | Minimum
Property, Plant and Equipment [Line Items]
Useful Lives (In Years)	5 years
Charging stations and digital media screens | Maximum
Property, Plant and Equipment [Line Items]
Useful Lives (In Years)	10 years
Capitalized research and development equipment | Minimum
Property, Plant and Equipment [Line Items]
Useful Lives (In Years)	2 years
Capitalized research and development equipment | Maximum
Property, Plant and Equipment [Line Items]
Useful Lives (In Years)	5 years
Computers and equipment | Minimum
Property, Plant and Equipment [Line Items]
Useful Lives (In Years)	3 years
Computers and equipment | Maximum
Property, Plant and Equipment [Line Items]
Useful Lives (In Years)	5 years
Furniture
Property, Plant and Equipment [Line Items]
Useful Lives (In Years)	5 years
Leasehold improvements | Minimum
Property, Plant and Equipment [Line Items]
Useful Lives (In Years)	2 years
Leasehold improvements | Maximum
Property, Plant and Equipment [Line Items]
Useful Lives (In Years)	5 years
Capitalized software
Property, Plant and Equipment [Line Items]
Useful Lives (In Years)	3 years
Construction in progress: station hardware
Property, Plant and Equipment [Line Items]
Other operating expense	$ 3.6	$ 1.9

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Debt Issuance Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Amortization of debt issuance costs	$ 398	$ 337
Term loans payable
Debt Instrument [Line Items]
Debt issuance costs	600	0
Amortization of debt issuance costs	$ 400	$ 300

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Equity Issuance Costs (Details) - USD ($)		12 Months Ended
	Feb. 07, 2021	Dec. 31, 2022	Dec. 31, 2021	Sep. 12, 2022
Class of Stock [Line Items]
Consideration received	$ 350,100,000
Payments of equity issuance costs		$ 0	$ 1,290,000
Maximum
Class of Stock [Line Items]
Authorized amount				$ 500,000,000
Series D
Class of Stock [Line Items]
Proceeds from sale of equity			28,700,000
Stock issuance costs			$ 1,300,000
Class A Common Stock
Class of Stock [Line Items]
Common stock, par value (in dollars per share)		$ 0.0001	$ 0.0001
Net proceeds from sale of stock		$ 4,900,000
Stock issued (in shares)		4,251,284
Payments of equity issuance costs		$ 400,000
Class A Common Stock | Scenario, Plan
Class of Stock [Line Items]
Consideration received		$ 150,000,000

Summary of Significant Accoun_9

Summary of Significant Accounting Policies - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Total revenues	$ 54,600	$ 32,311
Consideration payables to customers	400	600
Media
Disaggregation of Revenue [Line Items]
Total revenues	44,008	25,961
Network Development
Disaggregation of Revenue [Line Items]
Total revenues	9,246	5,224
Charging Network Operations
Disaggregation of Revenue [Line Items]
Total revenues	748	676
Network Intelligence
Disaggregation of Revenue [Line Items]
Total revenues	$ 598	$ 450

Liquidity (Details)

Liquidity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Net loss	$ (154,633)	$ (276,595)
Net cash used in operating activities	(117,156)	(94,934)
Accumulated deficit	(583,364)	(428,731)
Cash and cash equivalents	2,642	262,260
Term loans payable | Secured Debt
Debt Instrument [Line Items]
Long-Term Debt, Gross	$ (12,923)	(40,833)
Interest rate, possible increase	3%
Class A Common Stock
Debt Instrument [Line Items]
Net loss	$ (150,505)	$ (242,163)
Net proceeds from sale of stock	$ 4,900
Stock issued (in shares)	4,251,284

Acquisitions (Details)

Acquisitions (Details) - USD ($) $ in Thousands		12 Months Ended
	Apr. 21, 2021	Dec. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill		$ 221	$ 221
2Predict, Inc.
Business Acquisition [Line Items]
Purchase price	$ 1,400
Cash paid	$ 200
Number of shares issued (in shares)	182,188
Equity issued	$ 1,200
Net assets acquired	1,400
Definite-lived intangible assets	1,200
Goodwill	$ 200
Definite-lived intangible asset, useful life		1 year 6 months

Reverse Recapitalization (Detai

Reverse Recapitalization (Details) $ / shares in Units, $ in Thousands		12 Months Ended
	Feb. 07, 2021 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares	Dec. 31, 2022 $ / shares
Schedule Of Reverse Recapitalization [Line Items]
Consideration received	$ 350,100
Proceeds from issuance of private placement	$ 300,000
Partners' capital account, units, sold in private placement (in shares) | shares	30,000,000
Payments for repurchase of common stock	$ 242,200
Transaction costs related to reverse recapitalization		$ (9,048)
Refund of transaction costs		$ 4,100
Class A Common Stock
Schedule Of Reverse Recapitalization [Line Items]
Recapitalization exchange ratio	1.2135
Common stock, par value (in dollars per share) | $ / shares		$ 0.0001	$ 0.0001
Class B Common Stock
Schedule Of Reverse Recapitalization [Line Items]
Common stock, par value (in dollars per share) | $ / shares	$ 0.0001	$ 0.0001	$ 0.0001
Additional Paid-in Capital
Schedule Of Reverse Recapitalization [Line Items]
Transaction costs related to reverse recapitalization		$ (9,048)

Fair Value Measurements - Deriv

Fair Value Measurements - Derivative Instruments at Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other non-current liabilities	Other non-current liabilities
Liabilities	$ 386	$ 11,036	$ 698
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	12,869	67,067
Total
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	13,309	68,314
Private warrants | Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	386	11,036
Private warrants | Total
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	386	11,036
Public warrants | Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities		16,036
Public warrants | Total
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities		16,036
Senior secured term loan | Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	12,483	39,995
Senior secured term loan | Total
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	12,923	41,242
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	0	16,036
Level 1 | Private warrants
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	0	0
Level 1 | Public warrants
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities		16,036
Level 1 | Senior secured term loan
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	0	0
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	12,923	41,242
Level 2 | Private warrants
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	0	0
Level 2 | Public warrants
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities		0
Level 2 | Senior secured term loan
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	12,923	41,242
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	386	11,036
Level 3 | Private warrants
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	386	11,036
Level 3 | Public warrants
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities		0
Level 3 | Senior secured term loan
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	$ 0	$ 0

Fair Value Measurements - Quant

Fair Value Measurements - Quantitative Information (Details)	Dec. 31, 2022	Dec. 31, 2021	Feb. 07, 2021
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expected term (in years)			5 years
Preferred stock warrants | Level 3 | Expected dividend yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0	0
Preferred stock warrants | Level 3 | Risk-free interest rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0410	0.0118
Preferred stock warrants | Level 3 | Expected volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	2.1440	1.3250
Preferred stock warrants | Level 3 | Expected term (in years)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expected term (in years)	3 years 7 months 24 days	4 years 6 months

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
Private warrants
Class of Warrant or Right [Line Items]
Trading price (in dollars per share)	$ 0.07	$ 1.86

Fair Value Measurements - Chang

Fair Value Measurements - Changes in Fair Value (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Changes In Fair Value Of Warrant Liabilities [Roll Forward]
Beginning balance	$ 11,036	$ 698
Increase in fair value of Preferred Stock warrants		1,246
Release of liability upon exercise of Preferred Stock warrants		(1,944)
Addition of Private Warrants		11,036
Decrease in fair value of Private warrants	(10,650)	0
Ending balance	$ 386	$ 11,036

Property and Equipment, Net (De

Property and Equipment, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Property and Equipment
Total property and equipment	$ 249,167	$ 122,481
Less accumulated depreciation and amortization	(41,821)	(24,753)
Property and equipment, net	207,346	97,728
Depreciation and amortization expense (excluding intangibles amortization)	18,600	10,600
Charging stations and digital media screens
Property and Equipment
Total property and equipment	131,107	79,104
Construction in progress: station hardware
Property and Equipment
Total property and equipment	100,895	33,434
Capitalized research and development equipment
Property and Equipment
Total property and equipment	2,451	2,689
Leasehold improvements
Property and Equipment
Total property and equipment	1,990	856
Computer and office equipment
Property and Equipment
Total property and equipment	1,727	1,459
Capitalized software
Property and Equipment
Total property and equipment	1,622	888
Capitalized software
Property and Equipment
Total property and equipment	4,573	86
Furniture
Property and Equipment
Total property and equipment	229	229
Other fixed assets
Property and Equipment
Total property and equipment	$ 4,573	$ 3,736

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Charging station expenses	$ 10,499	$ 5,393
Lease incentive liability	1,746	2,354
Employee related expenses	6,374	9,239
Deposit liability	0	850
Accrued interest	0	1,294
Severance	325	0
Other	501	1,038
Accrued expenses and other current liabilities	$ 19,445	$ 20,168

Debt Facilities - Schedule of D

Debt Facilities - Schedule of Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Less current maturities, net of debt issuance	$ 12,483	$ 15,998
Total loans payable, net of unamortized debt issuance costs and current term loan payable	0	23,997
Term loans payable | Secured Debt
Debt Instrument [Line Items]
Term loans payable	12,923	40,833
Less current maturities, net of debt issuance	12,483	15,998
Less unamortized debt issuance costs, non-current portion	440	838
Total loans payable, net of unamortized debt issuance costs and current term loan payable	$ 0	$ 23,997

Debt Facilities - Additional In

Debt Facilities - Additional Information (Details) - USD ($)		1 Months Ended	12 Months Ended
	Mar. 31, 2022	Oct. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Nov. 25, 2020	Jun. 19, 2019
Debt Instrument [Line Items]
Deferred revenue			$ 13,584,000	$ 8,450,000
Accrued Expenses and Other Current Liabilities
Debt Instrument [Line Items]
Deferred revenue			900,000	900,000
Non-current Liabilities
Debt Instrument [Line Items]
Financing obligation, non-current portions			$ 2,400,000	3,100,000
Minimum
Debt Instrument [Line Items]
Incremental borrowing rate			6%
Maximum
Debt Instrument [Line Items]
Funds held in escrow as percent of investments in foreign subsidiaries	125%
Incremental borrowing rate			17.90%
Digital Media Screen
Debt Instrument [Line Items]
Period of sale agreement			5 years
Amortization period			5 years
Digital Media Screen | Maximum
Debt Instrument [Line Items]
Period of sale agreement			10 years
Term loans payable
Debt Instrument [Line Items]
Debt issuance costs			$ 600,000	0
PPP small business loan
Debt Instrument [Line Items]
Proceeds from issuance of unsecured debt					$ 3,200,000
Secured Debt | Term loans payable
Debt Instrument [Line Items]
Face amount of debt						$ 49,000,000	$ 44,000,000
Interest rate						12%
Repayments of debt			$ 27,900,000	8,200,000
Interest rate, possible increase			3%
Voluntary payment		$ 12,900,000
Term loans payable			$ 12,923,000	40,833,000
Debt issuance costs			400,000	800,000
Accrued interest			$ 0	$ 1,300,000

Debt Facilities - Term Loan Pay

Debt Facilities - Term Loan Payments (Details) - Secured Debt - Term loans payable - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
2023	$ 12,923
Term loan payable	$ 12,923	$ 40,833

Debt Facilities - Future Maturi

Debt Facilities - Future Maturities (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Debt Disclosure [Abstract]
2023	$ 1,198
2024	1,215
2025	810
2026	408
Thereafter	529
Total future payments	4,160
Less amount representing interest	883
Total financing obligations	$ 3,277

Warrants - Additional Informati

Warrants - Additional Information (Details) $ / shares in Units, $ in Millions			11 Months Ended	12 Months Ended
	Aug. 25, 2021 shares	Feb. 07, 2021 $ / shares	Dec. 31, 2021 $ / shares shares	Dec. 31, 2022 $ / shares shares	Dec. 31, 2021 $ / shares shares	Dec. 31, 2020 USD ($) $ / shares shares	Dec. 31, 2015 $ / shares shares
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares)			14,554,773	14,554,773	14,554,773	0
Warrants exercised (in shares)				0
Expiration period		5 years
Notice period to redeem warrants		30 days
Option One
Class of Warrant or Right [Line Items]
Trading price (in dollars per share) | $ / shares		$ 0.01
Trading period		20 days
Threshold trading days		30 days
Option One | Minimum
Class of Warrant or Right [Line Items]
Trigger price (in dollars per share) | $ / shares		$ 18
Option Two
Class of Warrant or Right [Line Items]
Period when warrants become exercisable		90 days
Option Two | Minimum
Class of Warrant or Right [Line Items]
Trigger price (in dollars per share) | $ / shares		$ 10
Preferred stock warrants | Legacy Volta
Class of Warrant or Right [Line Items]
Warrants converted (in shares)	208,993
Class A Common Stock warrants
Class of Warrant or Right [Line Items]
Trading price (in dollars per share) | $ / shares		$ 11.50
Warrants converted (in shares)			188,638		188,638
Warrants outstanding (in shares)			9,773,835	9,773,835	9,773,835
Public warrants
Class of Warrant or Right [Line Items]
Warrants outstanding (in shares)			8,621,440	8,621,440	8,621,440	0
Warrants exercised (in shares)			(275)	0	(275)
Private warrants
Class of Warrant or Right [Line Items]
Trading price (in dollars per share) | $ / shares			$ 1.86	$ 0.07	$ 1.86
Warrants outstanding (in shares)			5,933,333	5,933,333	5,933,333	0
Warrants exercised (in shares)			0	0	0
Period of certain limited exceptions		30 days
Preferred Class B
Class of Warrant or Right [Line Items]
Trading price (in dollars per share) | $ / shares							$ 1.0475
Warrants issued (in shares)							209,029
Class A Common Stock
Class of Warrant or Right [Line Items]
Recapitalization exchange ratio		1.2135
Class A Common Stock | Legacy Volta
Class of Warrant or Right [Line Items]
Exercised outstanding shares (in shares)	253,613
Class B Common Stock | Legacy Volta
Class of Warrant or Right [Line Items]
Trading price (in dollars per share) | $ / shares			$ 0.01		$ 0.01	$ 1.31
Warrants issued (in shares)						381,679
Valued price of warrants (in dollars per share) | $ / shares						$ 0.76
Exercise of common stock warrants | $						$ 0.3
Warrants exercised (in shares)					(182,025)

Warrants - Schedule of Activiti

Warrants - Schedule of Activities (Details) - shares	11 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Class of Warrant or Right, Outstanding [Roll Forward]
Beginning balance (in shares)		14,554,773	0
Common Stock Warrants as Part of the Merger (in shares)			14,555,048
Warrants exercised (in shares)		0
Ending balance (in shares)	14,554,773	14,554,773	14,554,773
Private warrants
Class of Warrant or Right, Outstanding [Roll Forward]
Beginning balance (in shares)		5,933,333	0
Common Stock Warrants as Part of the Merger (in shares)	5,933,333		5,933,333
Warrants exercised (in shares)	0	0	0
Ending balance (in shares)	5,933,333	5,933,333	5,933,333
Public warrants
Class of Warrant or Right, Outstanding [Roll Forward]
Beginning balance (in shares)		8,621,440	0
Common Stock Warrants as Part of the Merger (in shares)	8,621,715		8,621,715
Warrants exercised (in shares)	(275)	0	(275)
Ending balance (in shares)	8,621,440	8,621,440	8,621,440

Stockholders_ Deficit and Sto_3

Stockholders’ Deficit and Stock-based Compensation - Additional Information (Details) $ / shares in Units, $ in Millions		12 Months Ended
	Feb. 07, 2021 USD ($) subsidiary $ / shares shares	Dec. 31, 2022 subsidiary $ / shares shares	Dec. 31, 2021 $ / shares
Class of Stock [Line Items]
Partners' capital account, units, sold in private placement (in shares)	30,000,000
Proceeds from issuance of private placement | $	$ 300
Common Stock
Class of Stock [Line Items]
Conversion ratio		1
Stock issued (in shares)		4,251,000
Redeemable Convertible Preferred Stock | Volta Charter
Class of Stock [Line Items]
Number of shares authorized (in shares)		10,000,000
Stock issued (in shares)		0
Class A Common Stock
Class of Stock [Line Items]
Common Stock, Votes Per Share | subsidiary	1
Common stock, par value (in dollars per share) | $ / shares		$ 0.0001	$ 0.0001
Recapitalization exchange ratio	1.2135
Stock issued (in shares)		4,251,284
Class A Common Stock | Common Stock
Class of Stock [Line Items]
Common Stock, Votes Per Share | subsidiary		1
Class B Common Stock
Class of Stock [Line Items]
Common stock, par value (in dollars per share) | $ / shares	$ 0.0001	$ 0.0001	$ 0.0001
Class B Common Stock | Common Stock
Class of Stock [Line Items]
Common Stock, Votes Per Share | subsidiary		10
Series A redeemable convertible Preferred Stock
Class of Stock [Line Items]
Recapitalization exchange ratio		1.2135

Stockholders_ Deficit and Sto_4

Stockholders’ Deficit and Stock-based Compensation - Convertible Preferred Stock (Details)	12 Months Ended
	Dec. 31, 2022 shares
Series A redeemable convertible Preferred Stock
Class of Stock [Line Items]
Recapitalization exchange ratio	1.2135
Series B redeemable convertible Preferred Stock
Class of Stock [Line Items]
Recapitalization exchange ratio	1.2135
Series C redeemable convertible Preferred Stock
Class of Stock [Line Items]
Recapitalization exchange ratio	1.2135
Series C-1 redeemable convertible Preferred Stock
Class of Stock [Line Items]
Recapitalization exchange ratio	1.2135
Series C-2 redeemable convertible Preferred Stock
Class of Stock [Line Items]
Recapitalization exchange ratio	1.2135
Series D redeemable convertible Preferred Stock
Class of Stock [Line Items]
Recapitalization exchange ratio	1.2135
Series D-1 redeemable convertible Preferred Stock
Class of Stock [Line Items]
Recapitalization exchange ratio	1.2135
Redeemable Convertible Preferred Stock
Class of Stock [Line Items]
Shares Converted (in shares)	66,927,034
Redeemable Convertible Preferred Stock | Series A redeemable convertible Preferred Stock
Class of Stock [Line Items]
Shares Converted (in shares)	7,363,856
Redeemable Convertible Preferred Stock | Series B redeemable convertible Preferred Stock
Class of Stock [Line Items]
Shares Converted (in shares)	11,090,568
Redeemable Convertible Preferred Stock | Series C redeemable convertible Preferred Stock
Class of Stock [Line Items]
Shares Converted (in shares)	18,581,768
Redeemable Convertible Preferred Stock | Series C-1 redeemable convertible Preferred Stock
Class of Stock [Line Items]
Shares Converted (in shares)	665,428
Redeemable Convertible Preferred Stock | Series C-2 redeemable convertible Preferred Stock
Class of Stock [Line Items]
Shares Converted (in shares)	7,675,798
Redeemable Convertible Preferred Stock | Series D redeemable convertible Preferred Stock
Class of Stock [Line Items]
Shares Converted (in shares)	13,266,042
Redeemable Convertible Preferred Stock | Series D-1 redeemable convertible Preferred Stock
Class of Stock [Line Items]
Shares Converted (in shares)	8,283,574
Common Stock
Class of Stock [Line Items]
Shares Issued upon Conversion (in shares)	81,215,956
Common Stock | Series A redeemable convertible Preferred Stock
Class of Stock [Line Items]
Shares Issued upon Conversion (in shares)	8,936,039
Common Stock | Series B redeemable convertible Preferred Stock
Class of Stock [Line Items]
Shares Issued upon Conversion (in shares)	13,458,404
Common Stock | Series C redeemable convertible Preferred Stock
Class of Stock [Line Items]
Shares Issued upon Conversion (in shares)	22,548,976
Common Stock | Series C-1 redeemable convertible Preferred Stock
Class of Stock [Line Items]
Shares Issued upon Conversion (in shares)	807,497
Common Stock | Series C-2 redeemable convertible Preferred Stock
Class of Stock [Line Items]
Shares Issued upon Conversion (in shares)	9,314,581
Common Stock | Series D redeemable convertible Preferred Stock
Class of Stock [Line Items]
Shares Issued upon Conversion (in shares)	16,098,342
Common Stock | Series D-1 redeemable convertible Preferred Stock
Class of Stock [Line Items]
Shares Issued upon Conversion (in shares)	10,052,117

Stockholders_ Deficit and Sto_5

Stockholders’ Deficit and Stock-based Compensation - Common sock activity (Details) - shares	Dec. 31, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	400,000,000	400,000,000
Common stock, shares issued (in shares)	174,198,246	162,105,399
Common stock, shares outstanding (in shares)	174,198,246	162,105,399
Class A Common Stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	350,000,000	350,000,000
Common stock, shares issued (in shares)	174,198,246	152,218,214
Common stock, shares outstanding (in shares)	174,198,246	152,218,214
Class B Common Stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares issued (in shares)	0	9,887,185
Common stock, shares outstanding (in shares)	0	9,887,185

Stockholders_ Deficit and Sto_6

Stockholders’ Deficit and Stock-based Compensation - Shares Reserved for Issuance (Details) - shares	Dec. 31, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Shares reserved for issuance (in shares)	149,195,091	83,554,725
Option
Class of Stock [Line Items]
Shares reserved for issuance (in shares)	6,336,542	11,464,745
Restricted Stock Units
Class of Stock [Line Items]
Shares reserved for issuance (in shares)	18,391,859	29,688,046
Legacy Volta Class A common stock warrants
Class of Stock [Line Items]
Shares reserved for issuance (in shares)	9,773,835	9,773,835
Outstanding Public Warrants
Class of Stock [Line Items]
Shares reserved for issuance (in shares)	8,621,440	8,621,440
Outstanding Private Warrants
Class of Stock [Line Items]
Shares reserved for issuance (in shares)	5,933,333	5,933,333
2022 ATM Plan Reserve
Class of Stock [Line Items]
Shares reserved for issuance (in shares)	70,748,716	0
Shares available for grant – 2021 Equity incentive plan
Class of Stock [Line Items]
Shares reserved for issuance (in shares)	25,500,119	14,357,382
Shares available for purchase - 2021 ESPP plan
Class of Stock [Line Items]
Shares reserved for issuance (in shares)	3,715,944	3,715,944
Vested restricted stock units, not yet released
Class of Stock [Line Items]
Shares reserved for issuance (in shares)	173,303	0

Stockholders_ Deficit and Sto_7

Stockholders’ Deficit and Stock-based Compensation - Employee Stock Purchase Plan (Details) - shares	1 Months Ended	12 Months Ended
	Aug. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Shares reserved for issuance (in shares)		149,195,091	83,554,725
Restricted Stock Units
Class of Stock [Line Items]
Grants in period (in shares)		15,127,877	29,763,009
Executive Officer | Restricted Stock Units
Class of Stock [Line Items]
Grants in period (in shares)	10,500,000
Common Stock
Class of Stock [Line Items]
Stock repurchased (in shares)		0
Shares available for purchase - 2021 ESPP plan
Class of Stock [Line Items]
Shares reserved for issuance (in shares)		3,715,944	3,715,944
Shares available for purchase - 2021 ESPP plan | Common Stock | Employee Stock
Class of Stock [Line Items]
Maximum deduction from compensation, percent		15%
Purchase price of common stock, percent		85%
Purchase price of common stock, applicable purchase date, percent		85%
Shares available for grant – 2021 Equity incentive plan
Class of Stock [Line Items]
Shares reserved for issuance (in shares)		25,500,119	14,357,382
Shares available for grant – 2021 Equity incentive plan | Common Stock
Class of Stock [Line Items]
Percent of possible increase in shares available for issuance		5%

Stockholders_ Deficit and Sto_8

Stockholders’ Deficit and Stock-based Compensation - Option Reward Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Number of options outstanding
Beginning balance (in shares)	11,464,764	17,558,731
Options granted (in shares)	0	7,248,934
Options exercised (in shares)	(1,743,072)	(12,796,353)
Options forfeited (in shares)	(2,770,238)	(544,526)
Options expired (in shares)	(598,689)	(2,022)
Ending balance (in shares)	6,352,765	11,464,764	17,558,731
Weighted-average exercise price per share
Beginning balance (in dollars per share)	$ 2.66	$ 0.93
Options granted (in dollars per share)	0	3.93
Options exercised (in dollars per share)	0.70	0.79
Options forfeited (in dollars per share)	3.76	2.53
Options expired (in dollars per share)	2.74	0.73
Ending balance (in dollars per share)	$ 2.70	$ 2.66	$ 0.93
Weighted-average remaining contractual life (years)	7 years	8 years 3 months 18 days	8 years 2 months 12 days
Aggregate intrinsic value	$ 16	$ 53,695	$ 30,881
Options vested, Number of options outstanding (in shares)	4,828,793	4,830,158
Options exercisable, Number of options outstanding (in shares)	4,828,793	4,830,158
Options vested, Weighted-average exercise price per share (in dollars per share)	$ 2.37	$ 1.30
Options exercisable, Weighted-average exercise price per share (in dollars per share)	$ 2.37	$ 1.30
Options vested, Weighted-average remaining contractual life (years)	6 years 9 months 18 days	7 years 4 months 24 days
Options exercisable, Weighted-average remaining contractual life (years)	6 years 9 months 18 days	7 years 4 months 24 days
Options vested, Aggregate intrinsic value	$ 16	$ 29,176
Options exercisable, Aggregate intrinsic value	$ 16	$ 29,176

Stockholders_ Deficit and Sto_9

Stockholders’ Deficit and Stock-based Compensation - Stock Option Activity, Narrative (Details) - Employees - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Aggregate intrinsic value of options exercised	$ 2.3	$ 103.4
Total fair value of options vested	$ 8.5	$ 7.1

Stockholders_ Deficit and St_10

Stockholders’ Deficit and Stock-based Compensation - Restricted Stock Units, Narrative (Details) - $ / shares	1 Months Ended	12 Months Ended
	Aug. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Restricted Stock Units
Class of Stock [Line Items]
Grants in period (in shares)		15,127,877	29,763,009
Vesting period		3 years
RSUs granted (in dollars per share)		$ 2.89	$ 10.70
Market Based Restricted Stock Units R S Us
Class of Stock [Line Items]
Grants in period (in shares)		0
Market Based Restricted Stock Units R S Us | Scenario, Plan
Class of Stock [Line Items]
Grants in period (in shares)			111,168
Service Based Restricted Stock Units R S Us | Scenario, Plan
Class of Stock [Line Items]
Grants in period (in shares)			1,340,974
Executive Officer
Class of Stock [Line Items]
Liquidity transaction, percent of aggregate proceeds received		2%
Executive Officer | Restricted Stock Units
Class of Stock [Line Items]
Grants in period (in shares)	10,500,000

Stockholders_ Deficit and St_11

Stockholders’ Deficit and Stock-based Compensation - Restricted Stock Units Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Restricted Stock Units
Number of shares
Beginning balance (in shares)	29,688,009	0
Grants in period (in shares)	15,127,877	29,763,009
RSUs vested (in shares)	(11,558,324)	0
RSUs forfeited (in shares)	(14,865,703)	(75,000)
Ending balance (in shares)	18,391,859	29,688,009
Weighted-average grant date fair value
Beginning balance (in dollars per share)	$ 10.70	$ 0
RSUs granted (in dollars per share)	2.89	10.70
RSUs vested (in dollars per share)	8.90	0
RSUs forfeited (in dollars per share)	8.44	12.10
Ending balance (in dollars per share)	$ 7.83	$ 10.70
Restricted Stock
Number of shares
Beginning balance (in shares)	0
Grants in period (in shares)	0	6,916,950
RSUs vested (in shares)		(6,916,950)
RSUs forfeited (in shares)		0
Ending balance (in shares)		0
Weighted-average grant date fair value
Beginning balance (in dollars per share)	$ 0
RSUs granted (in dollars per share)		5.82
RSUs vested (in dollars per share)		5.82
RSUs forfeited (in dollars per share)		0
Ending balance (in dollars per share)		$ 0

Stockholders_ Deficit and St_12

Stockholders’ Deficit and Stock-based Compensation - Assumptions (Details) - shares		3 Months Ended		12 Months Ended
	Nov. 15, 2021	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Expected dividend yield					0%
Risk-free interest rate					0.70%
Expected volatility					60.40%
Expected term (in years)					5 years 9 months 18 days
Market Based Restricted Stock Units R S Us
Class of Stock [Line Items]
Expected dividend yield				0%	0%
Risk-free interest rate				1.50%	1.30%
Expected volatility				90%	95%
Expected term (in years)				4 years 7 months 6 days	4 years 9 months 18 days
Grants in period (in shares)				0
Market-based | Founders of Company
Class of Stock [Line Items]
Expected dividend yield				0%
Risk-free interest rate				2.50%
Expected volatility				90%
Expected term (in years)				4 years 4 months 24 days
Market-based | Mr. Wendel
Class of Stock [Line Items]
Grants in period (in shares)	4,500,000
Restricted Stock Units
Class of Stock [Line Items]
Grants in period (in shares)				15,127,877	29,763,009
Restricted Stock Units | Mr. Wendel
Class of Stock [Line Items]
Grants in period (in shares)		742,972	2,750,000
Modified Vested Stock Options
Class of Stock [Line Items]
Expected dividend yield				0%
Risk-free interest rate, minimum				1.20%
Risk-free interest rate, maximum				2.90%
Expected volatility, minimum				52.40%
Expected volatility, maximum				61.90%
Modified Vested Stock Options | Minimum
Class of Stock [Line Items]
Expected term (in years)				3 months 18 days
Modified Vested Stock Options | Maximum
Class of Stock [Line Items]
Expected term (in years)				8 years 7 months 6 days

Stockholders_ Deficit and St_13

Stockholders’ Deficit and Stock-based Compensation - Stock-based Compensation and Expense, Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Total stock-based compensation expense	$ 30	$ 174
Market Based Restricted Stock Units R S Us
Class of Stock [Line Items]
Total stock-based compensation expense	9.5	$ 21.6
Employee Stock
Class of Stock [Line Items]
Total unrecognized compensation cost	$ 4.7
Weighted-average period of total unrecognized compensation cost, in years	1 year 11 months 4 days
Restricted Stock Units
Class of Stock [Line Items]
Total unrecognized compensation cost	$ 24.4
Weighted-average period of total unrecognized compensation cost, in years	2 years 11 months 4 days

Stockholders_ Deficit and St_14

Stockholders’ Deficit and Stock-based Compensation - Significant Modifications (Details) - USD ($) $ in Thousands		1 Months Ended		3 Months Ended		12 Months Ended
	Nov. 15, 2021	Aug. 31, 2021	Jul. 31, 2021	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Total stock-based compensation expense						$ 30,000	$ 174,000
Post-Termination Exercise Period						90 days
Option
Class of Stock [Line Items]
Number of shares authorized (in shares)			458,314
Accelerated vesting (in shares)		110,418	140,000
Period in force		10 years	10 years
Total stock-based compensation expense		$ 500	$ 2,400			$ 804
Option | Mr. Mercer
Class of Stock [Line Items]
Total stock-based compensation expense						3,451
Option | Mr. Wendel
Class of Stock [Line Items]
Total stock-based compensation expense						$ 3,662
Market-based | Mr. Mercer
Class of Stock [Line Items]
Grants in period (in shares)	5,250,000
Market-based | Mr. Wendel
Class of Stock [Line Items]
Grants in period (in shares)	4,500,000
Restricted Stock Units
Class of Stock [Line Items]
Grants in period (in shares)						15,127,877	29,763,009
Restricted Stock Units | Mr. Mercer
Class of Stock [Line Items]
Total stock-based compensation expense						$ (1,000)
Grants in period (in shares)				923,695	4,000,000
Restricted Stock Units | Mr. Wendel
Class of Stock [Line Items]
Total stock-based compensation expense						$ (700)
Grants in period (in shares)				742,972	2,750,000

Stockholders_ Deficit and St_15

Stockholders’ Deficit and Stock-based Compensation - Schedule of Significant Modifications (Details) - USD ($) $ in Thousands	1 Months Ended		12 Months Ended
	Aug. 31, 2021	Jul. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Total stock-based compensation expense			$ 30,000	$ 174,000
Reversal of previously recorded RSU expense
Class of Stock [Line Items]
Reversal of previously recorded RSU expense			(605)
Reversal of previously recorded RSU expense | Mr. Wendel
Class of Stock [Line Items]
Reversal of previously recorded RSU expense			(9,879)
Reversal of previously recorded RSU expense | Mr. Mercer
Class of Stock [Line Items]
Reversal of previously recorded RSU expense			(11,526)
Incremental expense for modified RSUs
Class of Stock [Line Items]
Total stock-based compensation expense			1,018
Incremental expense for modified RSUs | Mr. Wendel
Class of Stock [Line Items]
Total stock-based compensation expense			13,290
Incremental expense for modified RSUs | Mr. Mercer
Class of Stock [Line Items]
Total stock-based compensation expense			15,505
Restricted Stock Units | Mr. Wendel
Class of Stock [Line Items]
Total stock-based compensation expense			(700)
Restricted Stock Units | Mr. Mercer
Class of Stock [Line Items]
Total stock-based compensation expense			(1,000)
Option
Class of Stock [Line Items]
Total stock-based compensation expense	$ 500	$ 2,400	804
Option | Mr. Wendel
Class of Stock [Line Items]
Total stock-based compensation expense			3,662
Option | Mr. Mercer
Class of Stock [Line Items]
Total stock-based compensation expense			3,451
Modified awards
Class of Stock [Line Items]
Total stock-based compensation expense			1,217
Modified awards | Mr. Wendel
Class of Stock [Line Items]
Total stock-based compensation expense			7,073
Modified awards | Mr. Mercer
Class of Stock [Line Items]
Total stock-based compensation expense			7,430
Market-Based RSUs, Continued to Vest Until Termination | Mr. Mercer
Class of Stock [Line Items]
Total stock-based compensation expense			$ 100

Stockholders_ Deficit and St_16

Stockholders’ Deficit and Stock-based Compensation - Partial Recourse Promissory Notes (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 debt_instrument shares	Dec. 31, 2021 USD ($) shares
Class of Stock [Line Items]
Issuance of common stock upon exercise of options (in shares)	1,743,072	12,796,353
Promissory Note Agreement
Class of Stock [Line Items]
Issuance of restricted stock awards - related party (in shares)	71,454
Class A Common Stock
Class of Stock [Line Items]
Stock issued (in shares)	4,251,284
Class B Common Stock
Class of Stock [Line Items]
Issuance of common stock upon exercise of options (in shares)		365,605
Restricted Stock | Class A Common Stock
Class of Stock [Line Items]
Stock issued (in shares)		186,124
Partial Recourse Promissory Notes
Class of Stock [Line Items]
Due from employees | $		$ 0.2
Percent Of Original Principal Of Notes Collateralized	50%
Two Remaining Promissory Notes | Employees And Former Employees
Class of Stock [Line Items]
Debt, Number of Instruments | debt_instrument	2
Interest rate	2.26%

Net Loss Per Share (Details)

Net Loss Per Share (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares	Feb. 07, 2021
Class of Stock [Line Items]
Net loss | $	$ (154,633)	$ (276,595)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities (in shares)	49,230,312	85,288,979
Class A Common Stock
Class of Stock [Line Items]
Net loss | $	$ (150,505)	$ (242,163)
Weighted-average common shares, basic (in shares)	165,762,888	59,034,393
Weighted-average common shares, diluted (in shares)	165,762,888	59,034,393
Net loss per share attributable to common stockholders:
Basic (in dollars per share) | $ / shares	$ (0.91)	$ (4.10)
Diluted (in dollars per share) | $ / shares	$ (0.91)	$ (4.10)
Recapitalization exchange ratio			1.2135
Class B Common Stock
Class of Stock [Line Items]
Net loss | $	$ (4,128)	$ (34,432)
Weighted-average common shares, basic (in shares)	4,545,964	8,393,797
Weighted-average common shares, diluted (in shares)	4,545,964	8,393,797
Net loss per share attributable to common stockholders:
Basic (in dollars per share) | $ / shares	$ (0.91)	$ (4.10)
Diluted (in dollars per share) | $ / shares	$ (0.91)	$ (4.10)
Option | Stock Plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities (in shares)	6,336,542	30,602,803
Warrants for common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities (in shares)	24,328,608	24,328,608
Warrants | Redeemable Convertible Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities (in shares)	0	669,522
Unvested RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities (in shares)	18,391,859	29,688,046
Vested RSUs not yet released
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities (in shares)	173,303	0

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Lessee, Lease, Description [Line Items]
Asset retirement obligation	$ 2.1	$ 1.4
Operating lease, lease not yet commenced	$ 8.3
Minimum
Lessee, Lease, Description [Line Items]
Operating lease, term of contract	5 years
Operating lease, renewal term	1 year
Lease not yet commenced, term	5 years
Maximum
Lessee, Lease, Description [Line Items]
Operating lease, term of contract	10 years
Operating lease, renewal term	5 years
Lease not yet commenced, term	9 years

Leases - Balance Sheets (Detail

Leases - Balance Sheets (Details)	Dec. 31, 2022	Dec. 31, 2021
Other operating leases information
Weighted-average remaining lease term (years)	8 years	8 years
Weighted-average discount rate	11.20%	11.70%

Leases - Costs (Details)

Leases - Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Operating lease costs
Fixed lease cost	$ 17,675	$ 11,944
Variable lease cost	479	252
Total operating lease costs	$ 18,154	$ 12,196

Leases - Cash Flows (Details)

Leases - Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Lessee Disclosure [Abstract]
Operating cash outflows from operating leases	$ 15,641	$ 10,495
ROU assets obtained in exchange for operating lease liabilities	$ 27,644	$ 29,036

Leases - Maturities (Details)

Leases - Maturities (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Leases
2023	$ 18,795
2024	18,332
2025	16,807
2026	15,745
2027	15,569
Thereafter	47,061
Total undiscounted lease payments	132,309
Less imputed interest	(43,701)
Total lease liabilities	$ 88,608

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Employer matching contribution	4%
Contributions by employer	$ 1.1	$ 1

Income Taxes - Loss Before Inco

Income Taxes - Loss Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
United States	$ (152,250)	$ (274,809)
Foreign	(2,381)	(1,747)
LOSS BEFORE INCOME TAXES	$ (154,631)	$ (276,556)

Income Taxes - Provision for In

Income Taxes - Provision for Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Current:
Federal	$ 0	$ 0
State	2	24
International		15
Deferred:
Federal	0	0
State	0	0
Total income tax provision	$ 2	$ 39

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Statutory Tax Rate, Amount (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Benefit from income taxes at U.S. federal statutory rate	$ (31,741)	$ (58,027)
State statutory rate	2,160	(12,014)
Foreign tax rate at statutory rate	0	15
Foreign tax rate differential	(193)	(207)
Change in valuation allowance	13,128	65,996
Stock-based compensation	20,137	1,987
Permanent differences	60	1,750
Change in fair value of warrant liability	(5,486)	260
Alternative fuel vehicle credit	(14,274)	(2,706)
Executive Compensation	10,367	0
Tax accounting method changes	2,468	0
Other	3,376	2,985
Total income tax provision	$ 2	$ 39

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets:
Net operating loss carryovers	$ 100,751	$ 67,756
Accruals, deferrals, and reserves	3,076	5,775
Operating lease liabilities	22,128	18,446
Stock compensation	6,400	32,601
Credits	25,776	11,502
Research and development expenses	85	0
Interest Expense	1,205	0
Gross deferred tax assets	159,421	136,080
Valuation allowance	(124,741)	(111,613)
Gross deferred tax assets after valuation allowance	34,680	24,467
Deferred tax liabilities
Fixed Assets and intangibles	(10,260)	(5,068)
Operating lease right-of-use assets	(22,950)	(19,399)
Section 481(a) Adjustment	1,470	0
Gross deferred tax liabilities	(34,680)	(24,467)
Net deferred tax liabilities	0	0
Net deferred tax assets	$ 0	$ 0

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Change in valuation allowance	$ 13,128	$ 65,996
Decrease in unrecognized tax benefits is reasonably possible	2,000
Operating Loss Carryforwards [Line Items]
NOL carryforwards, subject to expiration	25,800
Federal
Operating Loss Carryforwards [Line Items]
NOL carryforwards	393,500
NOL carryforwards, not subject to expiration	376,000
State
Operating Loss Carryforwards [Line Items]
NOL carryforwards	269,500
Foreign
Operating Loss Carryforwards [Line Items]
NOL carryforwards	$ 4,200

Income Taxes - Reconciliation_2

Income Taxes - Reconciliation of Gross Unrecognized Tax Benefit (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized Tax Benefits as of beginning of year	$ 1,980	$ 0
Gross Increases - tax positions in prior period	0	1,980
Gross decreases - tax positions in prior period	(1,980)	0
Gross increases - tax positions in current period	0	0
Settlement	0	0
Lapse of statute of limitations	0	0
Unrecognized Tax Benefits as end of year	$ 0	$ 1,980

Related Party Transactions - 2P

Related Party Transactions - 2Predict, Inc (Details) - Consulting Service	12 Months Ended
	Dec. 31, 2021 USD ($)
Affiliated Entity | 2Predict, Inc.
Related Party Transaction [Line Items]
Expenses from transactions with related party	$ 600,000
2Predict, Inc.
Related Party Transaction [Line Items]
Accounts payable	$ 0

Related Party Transactions - Re

Related Party Transactions - Related Party Loans (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Proceeds from issuance of Series D Preferred Stock	$ 0	$ 28,721
Class A Common Stock
Related Party Transaction [Line Items]
Stock issued (in shares)	4,251,284
Related Party Loans | Affiliated Entity | Class A Common Stock
Related Party Transaction [Line Items]
Shares converted (in shares)		2,466,161
Related Party Loans | Affiliated Entity | Series D
Related Party Transaction [Line Items]
Stock issued (in shares)		3,891,256
Shares converted (in shares)		4,722,039
Related Party Loans | Affiliated Entity | 19York Ventures | Series D
Related Party Transaction [Line Items]
Stock issued (in shares)		2,032,271
Conversion price (in dollars per share)		$ 7.38
Proceeds from issuance of Series D Preferred Stock		$ 15,000

Related Party Transactions - Pr

Related Party Transactions - Promissory Notes (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2022 USD ($) shares	Dec. 31, 2022 shares	Dec. 31, 2021 USD ($) individual
Related Party Transaction [Line Items]
Issuance of restricted stock awards - related party			$ 40,237
Promissory Note Agreement
Related Party Transaction [Line Items]
Issuance of restricted stock awards - related party (in shares) | shares		71,454
Promissory Note Agreement | Executive Officer
Related Party Transaction [Line Items]
Amounts of transaction			$ 8,600
Transaction, interest rate			3.25%
Promissory Note Agreement | Former Executives
Related Party Transaction [Line Items]
Amounts of transaction			$ 200
Number of individuals with partial recourse promissory notes | individual			2
Issuance of restricted stock awards - related party (in shares) | shares	71,454
Issuance of restricted stock awards - related party	$ 200

Related Party Transactions - Le

Related Party Transactions - Legacy Volta Class B Common Stock (Details)	12 Months Ended
	Dec. 31, 2022 shares
Related Party Transaction [Line Items]
Warrants exercised (in shares)	0

Subsequent Events (Details)

Subsequent Events (Details) - Secured Delayed Draw Term Loan Facility - Subsequent Event - USD ($) $ in Millions	Mar. 30, 2023	Jan. 17, 2023
Subsequent Event [Line Items]
Face amount of debt		$ 20
Proceeds from debt	$ 20
Minimum increments		$ 5
Maturity term after termination of merger agreement		60 days
Maturity term after maturity of existing senior credit facilities		91 days
Interest rate		15%
Interest rate, possible increase		18%
Default interest rate		2%