VLTA - Earnings call transcript Q2 2022

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Operator

Good afternoon. My name is Sherry, and I will be your conference operator today. At this time, I would like to welcome everyone to Volta Inc.'s Second Quarter 2022 Earnings Conference Call and Webcast. All participants have been placed in a listen-only mode to provide any background noise. The conference is being recorded. there a remarks, session. speakers' the will question-and-answer be After [Operator you. Instructions] Thank over turn Bailon, now will to the Relations. I Investor call Katherine of Volta's Head ahead. go please Catherine,

Katherine Bailon

Please and views uncertainties. These as sector and assumptions, subsequent information materially date, risks not new of results and from Pilatzke, Chief actual of should subject risks companies Good any CEO; on the Kley, or release obligation Stephen initiatives. is Presenting are Also being expectations that conference like us over outlook variety guidance, future revision Officer. on expectations are differ and at Commercial Bolsa the These second to current and afternoon. based of making during to investors.thecharging.com. any in can which joining to on Officer. uncertainties of Officer; Brandt Chief a section broadcast upon and Development financial to statements, the Vince be of be with undertakes for events. of expectations. will publicly the that would could forward-looking and to forward-looking investment today be our statements Accounting today, are and accessed to statements website representative quarter related Chief this call our results including growth discuss no call revise or light Bolsa's Lipsher, Investors Cubbage, Thank these subject are today's on to Officer; We This results. and relied as forward-looking management Hastings, statements regarding conference web to view you for note financial the is cause statements of Chief as Interim you today's Drew only remind company's and call call, Michelle expected Legal reflect these us our Statements

Form results, financial Form XX, factors its other the discussion SEC year our could for company's XXXX. XXXX, December filings with months XX-Q the XX, the material the on that risks ended annual affect please X of the report refer report XX-K and for further including on important its to For ended and quarterly March

will which are during the performance. financial for today's These not call, they measures non-GAAP measures considered to discuss isolation believe of results. measures, supplemental as useful in substitute the and In company GAAP from non-GAAP a as should be or in addition addition, Volta's

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Vince Cubbage

clear a Thanks, like Catherine. time be Hello, report opening very waking to the the made by you up interim inevitability to with everyone, start I'd today. results. to It's I've thank world on EVs. to happy as with that second and quarter for our few my I'm CEO. during joining observations of you is

is drivers, this Over company all everyone succeed. with And site that been interactions uniquely stakeholders. meetings across the X employees, to Volta media the partners, really knows in past who positioned I've immersed of and customers, board, especially months, sees policymakers, Volta our

the only by network Voltas all digital its of of Volta enormous and network our properties safe, different just EV largest We're partners, to U.S. enables build chains revenue network long-term not approach digital advertising drivers Voltas Last footprint. allowing industry-leading accessible ahead building EV on XX combines dual with ad experience scale adoption of this curve. This the with to to platform. a We're charging powerful a signed commercial opportunity. more our powered charging kind, under convenient, quarter, MSAs, a of energy and which their expanding chargers. for have building We commercial chargers to national the intelligence. a Voltas largest owners, agreements master our agreements. Ulta X are further our grows MSA by X service the charging property national partnering network. properties EV us with install

our quarter in the Our makes of differentiated for stores this ideal properties. quarter increase was model of and XX% proven of results. front XXX% second competitive completed commercial and a stalls, retail a XXX We year year. in partner over over increase new the the in building first us second advantage quarter This charging infrastructure installations last

network quarter in and now are increase point is first thing X,XXX last from as June the only of I bolt-on totals XX% a count commissioned our stalls would from out over that One a fully completed Our increase we year. stalls and XX% XX, numbers.

media Our a In experienced network charging first hours, in customers. and significant growing increase over totaling quarter, the second is greater XXX% platform achieving opportunities XX% our throughput second X.X creating gigawatt the year. and and quarter last both a for the charging over our growth increase scale quarter

officially a everyone our the this network impressions. continue this in crossed the who begin impact digital platform contributing has charges. very as revenue that to milestone expect Golden's X year. over buy and the network wants of additional media of this adds on to to leverage measured The Bolt We billion second one quarter, generating growth important half immediate monthly an to ad by

and our is Our demand high-value backlog. is significant network demonstrated in by

assets. XX, has stalls or X,XXX direct Predicting result best over engineering brightly currently June of the markets and X,XXX for lit site the is Volta commercial of in numbers media These enables construction, adoption X,XXX a digital over these to safe efficient are within As strategy. us To locations optimize our effective in predict were stalls work technical properties. our sites, our markets front convenient underway which evaluation. the and including propensity our and XX EV charging under -- stalls and those right are charging permitting software new stalls additional proprietary backlog, program under assist evaluation of our MSA had providing of we in our that of sites drivers with developed and a in in prioritize value EV, highest locations contracted

also is network financially. delivering Our

-- in a media, quarter XXXX. contributed quarter, to the record million, XX% an over revenue sorry, Voltas second the third and our from just alone. predict includes network a parties. During licensing increase was Media $XX.X XXX% of this revenue predicting per charger almost and increase quarter second over quarter $X,XXX development sales of I'm last This

revenue, demonstrate the power as completely Voltas incremental further this about excited on it network. are and be We because we will of charging turn

As XXX% we electricity model need just margin for to a electricity, begin won't charging our work. we XXX% make or on

more that. Ulta's in enviable powerful puts position much network Our an is business interacting with for us than model policymakers. much,

industry-leading As an public we for highly and example, communities communities electricity. channels without communications visible offer we can can generate And at revenue cost. install overcharging no in chargers disadvantaged important, absolutely

and We efficient, a impactful and in have believe decision makers. we our aware very allocate the multitude advantage accomplish to are of grants, with determine to competitive we model, We clear goals. financial state those support and business legislation existing loans, Policymakers structures charging expansion their and and highlighted are working and of funds the conversations hard facilitate more local, long-term infrastructure. ways to viable who incentives recent short- of federal nationwide all EV a the

site a partners transition and communities in Hoboken that, drive And Volta electric great a Our the recently platform of with further recent to chargers, significant commercial partners hand entire model that vehicles. of our In Brandt of a our X-minute like resident encouraging and open walk this. review and to EV station generate win agreed tenants. media an goes the example the bolted mayor I'd beyond downtown commercial achieve value install example DCFC provide with creates to goals ideal an is to operations. town the Volta dual with sustainability summary, ADLT a every charging enables district. is convenient our over how Working and site public and to planners electricity ecosystem network charging, for their access, Malta's public-private partnership placing within it revenue This of to to customers,

Brandt Hastings

Thanks, Vince.

highlights quarter greater to key in in all detail. share with you made second today I'm Our several the commercial tremendous pleased organization progress on that

of that, do to market current like I Before some conditions. address the I'd

are mobile robust data-driven Volta creative campaigns, branded a unique Now digital-first of and I'm including our a tight -- translates campaigns, minute budget these protect on nice are digitally judicious in ship Publicis, and media we're at advertising a remarks. it not a kinds advertising associated dollars said on and like spend investing high-value to of Volta thinking advertising a converting for uncertainty. about leading to up shortly. is but I'd highlight on so commercial more media Network Jason's a need Officer to advertisers offers brands Strategy triggers, ensure expand larger, quote better suite into Voltas Jason digital becoming always-on against sales. funnel funnel campaigns our holding thought. sales-centric to to as approach dynamic rely tend Volta's media measurable that of Goldberg, analytics going managing often funnel budgets. retargeting value, more revenue Chief economic marketing going are such a Commercial most which for to our agency in measurable their in down are The the to to recently well. business into all down I these platform, sets and company campaigns native Down advertisers business. programmatic buying, economic of elaborate critical Media really audience advertisers to and take brands which few to capabilities measurement means And that partners, I'm than targeting, they media with us translate have model examples for measurable have, into dollars their results. times, to

of to As Vince infrastructure grocery industry-leading from digital digital location media business, such pharmacies. our doors placed measurement suite previously sophisticated economy. large marketers large maximizing of XXX part that ensures media conference. reporting value placement physical of enable working influence the commercial digital screens. strategically this front advertisers XXXX, just their our And locations. see I'm located seen behavior metrics of feet in and away to possible, of prioritizing Volta's another as unique steps to XX, finalizing And XX% of front me screens companies to consumers as of as valuable Volta's mentioned, share directly advertising for are shopping as these to, that happy message are EV as and by the Volta's businesses And just screens grow within that Volta and Volta our list, last alluded ability sales. doors We the enabling capabilities, to June stores addition to our and chargers the we're very is popular referred are a to and in-store many the today's with before quick on consumers leads awareness of detailed this as in I

from the even and was We must-buy in Our advertisers. big us the quarters and the second relationship advertising of strategic across of provider, a is recently capability those a of and ad spend, important purchased which last XX advertisers, and quarters. revenue media the bigger form media network ability measurement of in advertising business as on In customers. efficacy Catalina return demonstrates omnichannel announced an minds network. understand X XX expenditure position deals. of Catalina, significant VoltaMedia X more shopper recurring quarter, this as Volta in of the solidifies In strides the made an solid world the demonstrated has we've a quarter critical The metric report quickly digital-first, media benchmark a in X brands measure campaigns customers results-driven media fundamental media advertising Voltas have quarters, new for to unlocks to And metric both top media incremental the all XX have with efficacy. also XX% the on Volta out Voltas in to that intelligence customers used media leading top of repeat multiple compelling and for of bought repeat unlocking

with Coca-Cola and the inventory makes team one sales highlight this was to to BoltaMedia's accessible of gold. category, opening grocery entrances and to new Quotient, customers. for digital ad which partner results collaboration I'd not delivered of sales Volt, jointly selling impact provided on of stores. yet screens another Pointing attributable category These grow with X% on their the media technology engaging VoltaStations, to the eye-catching near study a in help beverage on and sales these purchased campaign, sales the Catalina's revenue Coca-Cola provided The and and spend, metrics season. Additionally, partners. in promotions products winter indicated another Dole to higher with goods consumers sought average demonstrate network and had drive document $X.X efficacy. than out and XX prove Media share products Volta the by in deliver the to Foods. is saw influence study million its multiple before incremental an measurement for the the and Dole Coca-Cola Coke was completed over and study data the showcasing the featured that the during partnership X% marketing an converting Seagrams measuring capabilities to on of lift Sprite, also quantified that Catalina category ad executed in key It X.X% in these packaged directly X% deployed in months Volta and food In advertising sales Catalina's data XX-day XX% consumer the return company in The increase lift Media ability a brands VoltaMedia source spend, digital advertising sales. clients, leading Volta. in XXXX like case previous return level who the share DollFresh campaign's and out-of-home studies Volta's successful attribution campaign. VoltaMedia and holidays. a consumer had purchase campaign purchased those by Purchase category. behavior case Retail decisions Fresca not Quotient AD tangible of was

Company, brands. some see campaigns unique consumer the other on to Our shoppers the demonstrates sale card. the And point the network of and have messages displayed their that and packaged ensures up this store can the walk measurable is across Coca-Cola fill bolt-on advertisement impact media they pin work of proximity last station's the before both the through Dole entrance

our developments our existing like retail and team we are due model. adding and progress new to our sales to partners. differentiated and We're on making the our talented charging real business solutions with move Now, work increasing solutions-based I'd our with important terrific the footprint in and clients Cornerstone partners of business estate to

Indianapolis to Columbus, more retailer to in Nashville, For collaboration America's grocery Fast X enable and to charging. clients, plans with announced Level Precision the relationship continues and Atlanta and customers will of example, Volta’s DC advertising Volta to Kroger, Marketing, example Kroger's a recently Volta source Kroger with model of retailers and Kroger unlocking Retail for our and largest we The charging Southern Media nationwide. to Kroger Volta launched charging bring Network of is to Volta's a Michigan locations our model is offerings. just another sell mix XX Louisville, and areas other California. revenue the where another also media power its media inventory to charging expand Cincinnati, resonate, to combined highlighting its and than of This media

our to delivering partner value We solutions-based unmatched are clients. a

to reiterate in of and that drives Stephen screens on retailers goals. summarized measurement Volta strategic value advertisers the Accounting unique to pass ultimately be we prove that, closing, brings properties, the media businesses I'll our media growth. revenue-generating And chargers Pilatzke, doors the of can it and so And capabilities our power over impact and of of municipalities can the the business value Chief make campaigns suite industry-leading with near This I to advertisers, Volta's commercial business placement want front by that retailers' Officer. Volta to and

Stephen Pilatzke

Brendan. Thanks,

Turning QX to results. our financial

formerly Volta QX an with million. outlook year-over-year. QX. We grew company we base range ended on new was year-over-year quarter XXXX, revenue, and XX% XX% base Volta's the quarter, delivered XXXX adding revenue and X,XXX sites, and quarter-over-quarter during commerce The above year-over-year $XX.X first XX, stalls QX to XX% sites an XXX of and June of called $XX.X XXX% media XX% in the installed of XX% our XXX installed XXX with installs growing quarter quarter which installed million. the was incremental sequentially revenue up second to behavior from for our For record.

We sites X,XXX we our quarter, XXX new with sites in signed For XXX construction the signed the quarter and and second pipeline. stalls X,XXX stalls. exited

quarter, United second Hewlett Genesis, included platform new Michelin, Packard. of the Airlines, During advertising America Lyft, VoltaMedia's and brands Bank to

during repeat QX, Jeep, Apple. addition, and Coca-Cola campaigns Kia, customers, General had we In Zoom, with Mills,

excluding margin, depreciation as gross margin quarter station Our for was the XX% in XXXX. compared gross QX XX% of to

expenses, costs the compensation $XX.X We to quarter continue excluding due stock-based and million the to compared increasing compliance company related expenses, for compensation forecast well margin a gross XX% million million, $XX.X million stock-based period. as was year-over-year were year. prior quarter also onetime full principally including was excluding the to public SG&A stock-based for year prior and $XX.X in for year headcount compared second costs, to increase as to in period. the $XX.X the as The compensation, XX% second

to improvements made and our have spend. We levels to work SG&A reduce SG&A our recurring to continue

second EBITDA a loss We $XX.X loss net Net million was as second of our headcount average in $XX.X work install quarter June to XXXX. the $XXX second second now $XX.X had of prior CapEx XX, a Volta's $XXX of anticipation period. outstanding and Weighted year million quarter to quarter $XXX XXXX to year $XXX of $XXX.X do. securities during quarter in a million XXXX to marketable million to have XXXX. was were company shares cash $XX.X -- million. The as million the for for compared quarter for loss Adjusted loss of the our XXXX the million is for the compared balance full stations. was the further second million

customers current to $XX XXXX from $XX revenue in are on conditions team, Based XXXX. be we our reiterating range million. and to our Turning for million to the of our market outlook and outlook for input

seasonality previously, have our revenue lightest the is function build of calendar to and of fourth with the first the being the quarter stated a which strongest. the media industry the throughout the spending trends, As being we tends year quarter

In are in X,XXX. total connected addition, to range we reiterating X,XXX the incremental of stalls

XXX range reiterating sites incremental are be the total of to connected we in Finally, sites. to XXX

the are closing to $XX $XX it for some for revenue I back of September million turn now, over will to be For ending guiding in And third we range third quarter Vince the XX, million. to comments. XXXX, quarter

Vince Cubbage

Thanks, Stephen.

people leaders. number a We've Over several our in transformed management several months, the experienced bringing exceptional past new have we well elevated really of as team. as

improve attribute cost other and products finalize the of that's to structure, with colleagues with taking laying development line team much that, exceptional I’d And XX the our on important to open and our Q&A. the we've much do, steps across date progress for our Our There's team of like into to to the groundwork certainly all really is more pleased to but I'm made new the firm. and Europe. of page, my that this colleagues to Volta the expansion

Operator

Fitzgerald. Instructions] first Sheppard [Operator is Andres you. question from Our Thank with Cantor

Andres Sheppard

update Congrats on -- that things just quarter, see front. your curious you -- the and us on needs progressed financial on an give have to how could

Vince Cubbage

Thank for the Andre, It this you question. is Vince. key is a question.

well as If others I'm CFO me we this complete into We're I We very, GC starting come the raise and underway. the way specifics -- or is our And have. on line we we on this. the well lead think talking would are the that you time able we're market. will company. There's roughly received people everybody's process, the would that And as The what on We're it capital stepped Quite it May as what it business process dig we that our more after very But that X we in. the soon that will debt, in will. of we're on very focused I tell a to up saying think both time left candidly, we sure is and that in question well. BraddI Drew call and starting shortly to, you is the as we want seeing and were where the to know differentiating on that relates said to who that be is with, mind. ask spending off to process. optimistic the

Andres Sheppard

now curious, Got I'm it. get how maybe in the Obviously, a thoughts getting But how anticipate of receive. fluid. potentially we on and as confirmed. Volta much your a follow-up, to there's a to be? that's a Act. just benefit as September funding still a bit And coming state Great, wondering of that. big assumptions do I trying you big might regards Infrastructure catalyst I'm I with in, appreciate it's little the to beneficiary to a hard Jobs just you could And how know make big in and quantify ideally I'm -- it's some bit

you color any could add So there?

Vince Cubbage

a behind for there amount question It's follow-up and capital is that country, enabling it's that adopt still it's purpose, both nationwide ability and a of long left is nobody earmarked that terms allocation allocated capital been that EV. in being great being to also being the making the build-out. is the because kind to raising kind of cross at of has that directed the tremendous towards capital trips of And sure of determined, really

Hoboken on competitors are are it Every as Our how a one our billions. of to as -- approach that the in a do focused in we numbers is of the example great community-based are. project

do And certain want active have of here and to who's great very We're you with time us minute? spent We policy Lipsher, take deal on that on Drew also that. team. today, has Drew, me a a a front. for predates

Drew Lipsher

to. again. hear your Thanks. happy Sure, Nice to voice

as Ben the at government appropriate $X.X think I IAA, billion. the said, is with

programs. community-based have equity they're as to and meetings these in had the plans everyone money states going I now take up our recently towards going that should say on advantage to is. we going and which we're not help Many and which fair all revenue I'm for that $XXX,XXX to share the dollars of used, the being to And this, urban important, gotten that Bolsa uniquely set based the the believe that garner feedback to be knows is that's common we've corridor funds but the rebate are amount $X be the of as the is being available, that billion through focusing in We're of billion We those them industry that's their Navy available, is as think, allocated on well. be target. allocated setting up, we of As to are sure been charging, positioned of we're be how the charging of also of the deployments, process the accelerate allocated than way to public $X.X everyone types and going Washington going freight administration's towards our we've for speak, that's to or more now have states and meet just the the published. knows, published and of -- everyone charger able to to accelerate deployments from goals grant

Andres Sheppard

update Could one. I That’s give progressing. last us with one it. maybe an is squeeze the how could very thorough. If you on Walgreens Got partnership

there? in maybe things you’ve give year, those mentioned I can the look XXXX. the I fast an DC wondering, of and for I’m some just chargers you heavier this later that although that’s think installations But think get us to think how to update is past, installed some expectation on potentially in progressing you expect

Vince Cubbage

It's that Brian. I'd the on in one. to question. Thanks for love jump

stores committed and would building the of both XXX extremely to I off Walgreens across and charging So start by rollout remain nationally. Walgreens excited Ulta saying

PCFC update, going with an of the and diligence early of in we're within through portfolio. in of that properties phases evaluating deployment Walgreens the store right we're their XXX requirements of each process so the terms In now,

sites and will So and construction I part the think the we're the local design time, that the are At associated the seeing some of XXXX. same required mindful services in we we that of of first of that have new availability also believe to the successfully. utility latter we're constraints operate install work, the we've with done live that

well. the that going the of timing as And so factor also we're into to rollout

Andres Sheppard

pass on. I'll Congrats, again. Wonderful. Thanks. it

Operator

from Our next James. Raymond question is with Pavel Molchanov

Pavel Molchanov

in are of First we European where can an entering? deployments any What update Germany, on France, all, get like your are countries other Switzerland, you initiative?

Vince Cubbage

done question, That Vince. terrific it. a are has us up. There job great to Europe that. pieces is in a I'll of several Vincent setting take

as until the We we to of much coupled anything to telling opportunity execution and of because the they the very the announce going some tremendous in the really terms And in the as U.S. announce look well. and ahead I'll all profitably something offering the understand power the organizational forward dual about to to ahead we have yielded you to can well this. we deploy the it's a execute. the the we be But we're that plan responding curve We able the future. to execute are EV in describe tremendous is Volta of you where won't going tell model has only very well is very business plan, sign wins as all that very very, that as having Europe much well future. adoption product opportunity. that in European that are conversations can and we phase financing both we're And We're that to hope things. you finalize things of

Pavel Molchanov

Understood.

of You underpenetrated a given focus into – different mentioned less From marketing getting lower-income are prospective kind perspective for is disposable on conversation less communities income definition, sense? how have campaigns. make underserved, that, that that income by of communities. lower of Does a advertisers,

Vince Cubbage

business in the top the X inner is the to, available amount from it It's way And can ubiquitous. EV and focused expects really money federal advertiser things to available are available needs out of positioned everywhere. for electricity. dual that to I that question. on answering parts question is ahead adoption -- tremendous do make just and cities. great high-income to The by is date needs from to be deploy it way our overlay It electrons government to fact -- or It infrastructure be of the It two a capital revenue it's model we in want on our business want needs it. to than are to model. don't that coastal is of start our roll our of is uniquely everyone EV to There's the of needs the a on our resources because communities. our to look, most it coming policymakers of We be to be there's that network and And there other all model that. electrons. So actually charging components. then selling the

can of charge to Now we we're But second our community the contribute going network it, for a our to turning asked being might start see that we're you'll year, feature that charging be to refer deploy In revenue into forward. half the if we And half electricity. money as to on. constituents of that the the at our make second Brand's question. for of for Yes. disadvantaged, so talk you same we Thanks, stakeholders can because question. and overcharging Vince, about without those business. time, thanks Brett, just for the do

when connect partner packaged to consumer for helping We're in consumers. and goods And Coca-Cola, reach are everybody like and the So is only beats that them. front breadth think places to others. with and one categories to they think essential like electric the and the portion on our from if & really these business range others, up a to an of also and shops, we companies our matter to marketing audiences buy not Stop of to great fall products of parts you of we're deem types Walgreens wide sitting I package our of fuel of a And of when advertising that that household of to advertising I what others a in vehicles. Krogers go Americans our business. the and of who you business places of that entertainment about Shops platform at category their into the and week would These business, are audiences consumer every network millions and brands about strengths look need large the Dole stores

advantage long answer you at to the of to we consumers give our that advertising, model. that. consumers store, our question levels. a want every a So portfolio. Look, really shopper to about excited of can into many advertisers reaching it's one-to-many competitive That's the we're income brands our because opportunities all our of walking business valuable But across model a reach

why in electricity to are $XX,XXX, available the or they're customers do to trying can to We cars electron out. or not we in reach that answer. it a way move into where move price they or can can adoption. a market to have in charging. X the know find packaged is build with EV of the We the can build to key those don't into EV markets. They're where have consumer isn't not those infrastructure today goods the can We not their and profitable from to and is is only those charging cost are business going average going same put X buying charging we it those are Our policymakers and the the sales of prioritize that We charge ahead the markets opportunity It's sales out this of they EV business money electricity. -- community, in that and making Xx can the model population advertising. them an that winning communities, going

to bring answer types EV communities. charging We how to the of to are those

Pavel Molchanov

Okay.

just what. for Lastly, calendar can the clarify gross margin guidance year I is

Stephen Pilatzke

XX% to XX%.

Pavel Molchanov

Okay.

year, that second something in implies to close it of the half? math XX% the negative half So in the given was the first

Stephen Pilatzke

low seasonality we to XX% of it's first the as quarter the and comparable of And throughout where Well, discussed, in had second rest industry quarter. is we advertising our year. in previously the the others the ramp

we full XX%. XX% to for continue So to year, the forecast

Pavel Molchanov

a Right basis? cash on

Stephen Pilatzke

depreciation, yes. excluding Yes,

Operator

is Matt Our D.A. with from question Somerville Davidson. next

Matt Somerville

couple of questions. A

Francois Vince, case was specific he was time First, add for you to I then could what there, referred follow-up. And of, was a sources that still around about -- mentioned line you raising. your I specificity like? had believe when as the very around capital seeking Is potential was comment capital. to the nondilutive a that that a hoping time you firm? looks you line. have I And little

Vince Cubbage

I'll an have some of us time diligencing is the And lot they're has kind -- transitional the and Matt, they're at And was hires. it could that We've be on I have In on feedback on -- that They're we you sense great people what indicating in plate seeing. it's look, tremendous exceptional made the your are guys and a seek since make of they're tell are this -- feedback that you But would me. and that. to would I The team. on that underwriting been the working true. to where of where this The have you been that. We is organization. with quarter statement, capital a rising landed. certainly the top are a us leave they're with sure. order question. at that for is point it's interacting to I process, raising watching real and that that, we're it before something going management happy process talent

of heard it. comments non-diluted, In look, all Francois's terms on we

that time I of in that us where as he because surprised you process. think some were hear the at maybe were premature that to given was it was

is market market we and a business were features optimistic. But what I the and the for capital think and when the be way availability, tell we're opportunity it for the policy price will optimistic very business there. model capital think this I that all is tremendous ahead from this we will is that capital be the of this with with model is business and finish And raise this what capital, the along the and negotiate. winning you is it the helping that would tailwind clearing

Matt Somerville

I appreciate that color.

back of or your we like But you that additions. did the kind know gets year in quarter year, it’s half really right, I the didn’t. The math to I other addressed, implied a sure apologize I that if big there’s sort that almost STAL if like feel thing new double I second make the it’s of I want ended up. a had again, setup the did second kind of of coming feel the of out same ago we the $XXX half where of so and envelope in I first

we that feel So should I’m wondering different. is this year why

Vince Cubbage

I say been as management out last It's it's we them. the model a that it it's had I to a What have a past fair as better guess XXXX question, would stall is And the could would execution since to of wasn't I included the team consistent agree built ahead be. execute team candidly time time would would but point this hope since that you I pace management progression, out and the you're quarter, enormous bottom has I this think question. the year, the and towards quarter had in year. -- opportunity because of quarterly public, met the the the from beat it it in question been can't business great half Look, up, laid trying the -- first you. a optimistic went the simultaneously pointing is fair second with second

confident timing all be. guidance, provided we're first also kind you Palosky's the together, and kind can those capital that that the road terms There's But around Stephen to guidance order need that In it that get the lot ranges overlay that to would we of we I pace that the you you we range, and ahead. of think piece with on question and to expect of work done. be We heard of be to are a still into words that if see viable. capital availability. around the

Matt Somerville

it. Got

Operator

Delaney question Sachs. Mark from Goldman next Our is with

Mark Delaney

was to numbers the I I perhaps $XXX of I to $XXX million, $XXX correctly, if to but kept stations The if number have million million CapEx previously, the my guidance. on I the think you right, believe first updated same. $XXX one it it million you was lowered heard

So the savings new maybe you is unchanged? the about CapEx additions finding though where you're on even plan can talk on

Vince Cubbage

And to the the Drew. Thanks Sure. to. that? Happy financial Mark, a thanks to for question, question. good team want Drew, for take It's Mark. The reports one. planning do you

couple of I got at of certainly, there call, different of bit availability to a fast look CapEx the we puts One, the little from DC AC as about factors at X when to think market guidance. look stations was that mix a and the alluded conditions are we've versus chargers. a in of in think power the we earlier or lens Level the utilities

or balance to mix some due X shift, of in mix be or of So but DC to prioritization CapEx the level the shift is our the fast chargers. shouldn't the going stations and I shift and charger between say

CapEx. largest change So to the that's the contributor in

I garner CapEx our chain improve think ability relationships, see better some overall supply which also numbers. we're to are to starting to helping

Mark Delaney

understood. helpful. Okay, That's

would you can on second the And even of terms use. use in XQ? burn in of color second cash about The in helpful or thinking how one, be to be just the know of cash if I any year helpful. the don't cash think half

Vince Cubbage

dollar trying ground and/or we're X a a Vince team X of mean sort station the since and key that the is against has I of focusing been goal. think helped revenue-oriented going this spending, Every really, on, we're put we've particularly goal together, a team I joined every of to towards in look, Sure. deployment our -- the what dollar bring goals. stall or

his in of around and got And focusing to to on so we remarks Poloskey, about part and we've well, and more and we effective the and this work that allocate OpEx side, how revenue possible. in do, continue the that as Steve CapEx most alluded a capital. to work as and way spend, efficient on we is we capital think efficient as getting that to And want are in do we that generating sure deploy make way installations we're

we're So we've doing that's the that a to capital lot make that work of been sure deploying effectively.

Mark Delaney

me, understood. more please. I Okay, for One could, if

on Just search can for any updates you that timing share? CEO and the search a CFO

Vince Cubbage

executive an & an call that so like search on The Heidrick -- said set. the search firm. for We had Yes. Straits That one level earlier is sounds The had international let's Board It's me. ongoing. Vince. hired

has more of it's my time think one background with team, directly individuals, team, raise at slide, team The strategy. of the last issues Volta do of has is capital it. a that we bit looking of little a an and winning the obviously not management that couple clearly you The the of we're of company in spend We in settle exceptional front look to the because who at number rest are exceptional high-caliber going you showed a isn't if if speaking anyone and in evident that's The I with CEO for -- the opportunity, continue seize in making right finding changes is is cost team is results. those the place of the issues. other result execute; become we team It's interesting that need will and focused future future expect is the on for it's a right team change and coalesce this role. to the CEO. very it. quarters direct and hand-in-hand an -- this strategy, That going the we someone where -- and that's the structure are And around is

very, matches I it's the [ph] has cost other expert caliber is media all so a active say Board obviously and some an that connections people we -- supportive media We This but the on resolved helping programmatic involved get we whether this people different before would the on across to of involved to this the person not Bonita would in is to company Board we side And the see technology to make that it, or is our have and going issues is goal the the that granularly energy how is supportive or the and perspective company best and very operations, on and board programmatic opportunity very with board serious the terrific the side is side. that that right to is thing hand sure ads, ahead. want of leadership, someone more setting that's Cathyavits and have execute involved cutting and them. these wants of exceptionally number very like of is want make add of to of a chair business, that to a or this have

Mark Delaney

turn over. I'll it

Operator

Tuohy Shere with Craig is question next Our Brothers.

Craig Shere

shared relative kind of the pressure like certainly revenue call. to is quarter to expected quarter looks second achieve a bit that better from quarter the we to before. third or looks quarter first in year the line it the But full the relative the fourth And than progression on So outlook. that light puts outlook the

beyond out, quarter? understand charging broad-based is materially we fourth is it an for rolled can to not the But Or out is I revenue quarter? strong advertising. seasonally charge fourth electron is expect fourth improvement for quarter rolling how And ongoing really your Now once in it?

Vince Cubbage

have has thank has we the component this. Craig, really it, you it with that media which of as for And the well and a then on understand and bit you model, us working dual. It talked the to Thank about the back-end business us which those to lever electricity, revenue. be. we're I more We're when to given that model charge revenue available that beginning we we a guidance is a great The show don't pull per kind of in you will switch. question. little seasonality and is a it, time up for is build. the will indicating think sales that everybody on electrons charge business what forward flip else's

or or Our or hasn't technology media installed MSA not backlog the anyone available or we have. team to that built business is on the portfolio of that making the side model the the money base the

weighting we're like really, that's around that? would On that address side, Brandt, the to how guidance the media, back-end you brand a giving of question. the revenue

Brandt Hastings

is this driven bit No, throughout sequentially I throughout spend builds how appreciate think Yes. before how about and the increases our mainly year. talked sequentially the We've I year, which it. advertising quarter-over-quarter business a revenue by Craig. Thanks,

So when I to think about key this, it really areas. down comes X

impressions the sales for more for first, more media think, means I in ground Volta, our stalls to monetize. team

to Network with month they're threshold bringing crossing the made underscored announcement now that's over billion of that out just by impressions marketplace. the think we the a I that Volta X that Media

in profile back the And favorable like of the Volta, revenue reason are I the advertisers. as When our more in holiday return their we're investing this driving EDS and why media a seeing advertising efficacy. focused that they is around metrics investments, we it's their well. also is that's period particularly form the second quarter. ability line. the is seasonality spending And are in fourth grow of we're piece with recurring of I've to been simply doing they're very me, bottom demonstrating for piece to And on year. third they're because think is because terms digital with these returns it to the Advertisers building that business mature throughout the that something that the marketers is revenue driving our

Craig Shere

breaking you kind While it big I -- That's more number kind certain you there's the next and the screens media, was the leagues exact run. for to don't subject close we're what you point maybe nationwide. advertising that a into know under at that of leagues into I of on kind I big year. real the a how and figure, how close forget call get every which dollars of breaking step but the of more How impression, -- and of the campaign are

Vince Cubbage

screen that used a kind have Yes. line It's question, mark. number is before. about good that And the the we've in as XX,XXX Greg. we this And talked of

around over per put is, the to And certainly march media with DAC believe, saw. close number on at we our towards there's on that kind our I will idea have is look SURPASS. for just so that and and And that layer we which you very X if the I continue X:X between guidance screens that year sent screens of network X,XXX generally STAL We screens. full a correlation in think that the the to numbers we out, today

network. we this It's marketers was per telling to see prioritizing excited this just and phone demonstrate companies of advertising media the And with I Volta; billion half was lease And their they coupled our year, what think that mark can on to the efficacy where by the her think now me a in excited nice have cutting ecosystem. I media the and to like. profile about that end day, company the scaling advertising to reprioritizing about. focus all $X marketing is sits me I ability how to must the of are look the the results most of with spend is sort interesting. end what gets prove have Volta of it's for X I you the continue the And and back to and and really impressions, combine You we grow have. But to big know, to about on up the where think so the measurable will through something we’re the out that’s the other year. now going that, CMO is of she the and billion deliver and this you month towards don't on impression ability in XX,XXX, which return really

Operator

of turn our reached session. to question-and-answer like have I We for to conference management comments. over back would the closing end the

Vince Cubbage

the Sherry. exceptional of really work and impressed We that. both you, done you for I've Thank being appreciate And thank his across just everyone, questions business. your time the you've genuinely all been had. with

dedicated look that for clear conclude commitment. quarter to opportunity you their and success through of the our all future providing to contributions for for to and work leadership the steady transitionary this their really for both quarter customers their updates. there's We what I'd thanking extremely tremendous by made and ahead it employees all it's this have that really We for like employees was company. this forward

you update make we'll as lot we a And have talking to We to you future. on. progress, in be the

So thank everyone. you,

Operator

This does you. conference. conclude Thank today's

at your you thank disconnect may lines time, and participation. your You this for

Volta (VLTA) 12 Aug 222022 Q2 Earnings call transcript