Former New York mayor Mike Bloomberg has dropped out of the Democratic race. His campaign was unique on two fronts: He skipped the early states entirely to focus on March 3, and he spent an enormous amount of money on advertising. The strategy did not work.

Where Bloomberg spent on ads, and where he won votes In states with at least 95 percent of precincts reporting State Vote share Ad spending Votes Spending per vote Minn. 8.3% $13M 62,000 $220 Tex. 14.4% $54M 301,000 $180 Ala. 11.7% $8.9M 53,000 $170 Vt. 9.4% $2.3M 15,000 $150 Okla. 13.9% $5.6M 42,000 $130 Tenn. 15.4% $7.9M 80,000 $100 N.C. 13.0% $15M 172,000 $90 Va. 9.7% $7.4M 128,000 $60 Note: Vote totals as of March 5 at 11:21 a.m. Sources: Advertising Analytics and Edison Research.

Bloomberg spent more than $200 million on advertising in the 14 Super Tuesday states, often amounting to more than $100 per vote, according to a preliminary analysis of Advertising Analytics data. These numbers do not include spending on other aspects of his campaign, such as staffing and transportation.

Virginia was a relative bargain for Bloomberg, at a mere $60 per vote. Minnesota was a poorer investment, with Bloomberg narrowly beating Sen. Amy Klobuchar for fourth place in her home state, despite her dropping out of the race on Monday.

[Mike Bloomberg is suspending his presidential campaign, says he’s endorsing Biden]

Where Bloomberg won over voters

Bloomberg saw slightly higher support in Hispanic-plurality counties, such as the Rio Grande Valley of Texas and the Great Basin of Utah. Median vote share for Bloomberg in Hispanic-plurality counties was 17%, compared to 14% among all other counties.

Many Super Tuesday states, especially Western states such as California, Colorado and Utah, still have many votes left to count. These areas ended up being where Bloomberg saw his strongest support, and they could pad his no-longer-relevant delegate totals.

[Get the latest updates on what’s happening post-Super Tuesday]

Here’s a preliminary look at how much Bloomberg spent in the states that aren’t as close to complete reporting. These numbers will update as votes come in, and his “spending per vote” will improve.

In states still counting votes, where Bloomberg spent on ads In states with fewer than 95 percent of precincts reporting State Vote share

so far Ad spending Votes

so far Spending per vote

so far Maine 12.0% $4.3M 24,000 $180 Calif. 14.1% $74M 440,000 $170 Utah 16.7% $5.1M 30,000 $170 Ark. 16.7% $4.8M 39,000 $120 Mass. 11.7% $12M 157,000 $70 Colo. 19.3% $10M 169,000 $60 Note: Vote totals as of March 5 at 11:21 a.m. Many votes in these states remain uncounted, so Bloomberg’s spending per vote will decrease. Sources: Advertising Analytics and Edison Research.

If there’s one silver lining for Bloomberg, it’s American Samoa. The candidate picked up nearly half the vote in the territory’s caucuses, netting four of six delegates so far. Advertising figures were not available for the territory. If there’s a second silver lining, it’s that he’s still worth far, far more than he spent on his 2020 campaign.

Of course, the real prize of Super Tuesday is the delegates, not the votes. As delegate counts are finalized, this analysis will update with the money Bloomberg spent per every delegate gained.

Anu Narayanswamy, Ted Mellnik and Reuben Fischer-Baum contributed to this report.