Wallbox Earnings Call Transcripts
Fiscal Year 2025
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Revenue declined 11% year-over-year in 2025, but gross margin and Adjusted EBITDA improved significantly. Refinancing is nearly complete, with new capital structure and sales strategies expected to restore growth. Q1 2026 guidance anticipates stable revenue and margin.
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Q3 2025 revenue grew 2% year-over-year to EUR 35.5 million, with strong DC sales and improved gross margin at 39.8%, but overall results missed expectations due to weak AC sales and regional headwinds. Efficiency gains and cost controls continued, while a standstill agreement on EUR 179 million debt is in place until December 9.
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Q2 2025 revenue was €38.3 million, up 2% sequentially but down 22% year-over-year, with gross margin stable at 37.8%. Backlog grew by over €5 million, and adjusted EBITDA loss improved 33% year-over-year. Guidance for Q3 anticipates continued growth and margin stability.
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Q1 2025 revenue was EUR 37.6 million, with strong North American growth offsetting European softness. Gross margin improved to 38.1%, and adjusted EBITDA loss narrowed to EUR 7.8 million. Guidance for Q2 anticipates stable revenue and margins, with continued focus on cost control and backlog growth.
Fiscal Year 2024
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2024 saw 14% revenue growth despite EV market headwinds, with strong North American performance and significant cost reductions. Q4 revenue declined year-over-year but improved sequentially, and profitability is targeted as cost actions take full effect by mid-2025.
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Q3 revenue grew 7% year-over-year to EUR 34.7 million, with strong North American growth offsetting European softness and a one-off charge. Gross margin was 23% due to a EUR 4 million inventory provision, but is expected to rebound in Q4, with profitability targeted for 2025.
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Q2 2024 revenue grew 48% year-over-year to EUR 48.8 million, driven by strong AC and DC charger sales, especially in North America. Gross margin improved to 39.1%, and a $45 million investment strengthened the balance sheet. Adjusted EBITDA loss narrowed by 47% year-over-year.