Wallbox N.V. Class A Ordinary Shares Earnings Recaps
Q1 2026
May 7, 2026
Wallbox's stock rose 4.8% following the Q1 report, driven by operational efficiency improvements and adjusted EBITDA gains despite weaker-than-expected revenue and lower DC sales that pressured margins and guidance.
Key takeaways
- Q1 revenue declined 12% quarter-over-quarter to EUR 29.7 million, missing guidance primarily due to a 28% drop in DC charger sales linked to refinancing-related customer uncertainty.
- Gross margin of 37.3% fell short of the 38–40% guidance range, reflecting an unfavorable product mix caused by lower DC sales.
- Operating expenses improved significantly, with labor cost and overhead down 22% sequentially and 31% year-over-year, reflecting ongoing efficiency efforts and resource shifts.
- Adjusted EBITDA loss narrowed by 18% sequentially and 23% year-over-year to EUR -6 million, missing guidance but demonstrating progress on operational profitability.
- Geographic weakness was evident in North America (down 41% year-over-year) due to soft EV market conditions, while Europe saw an 8% sequential revenue decline in line with broader market contraction.
Q3 2025
Nov 6, 2025
Wallbox reported Q3 2025 revenue of EUR 35.5 million, a 2% year-over-year increase, hindered by operational challenges and varying demand across regions, despite strong performance in DC sales.
Key takeaways
- DC sales grew significantly by 40% quarter-over-quarter and 34% year-over-year, helping to offset weaknesses in AC sales.
- Gross margin improved to 39.8%, exceeding guidance due to better cost management and pricing strategies.
- Adjusted EBITDA loss narrowed by 68% year-over-year, indicating progress towards profitability despite lower-than-expected sales.
- Europe represented 66% of total revenue, with a modest 3% increase, impacted by new product regulations and operational headwinds.
- North America saw 13% revenue growth, driven primarily by demand in the U.S., contrasting with a decline in the Canadian EV market.