Wallbox NV
NYSE:WBX
Wallbox NV
Wallbox NV is a global company, dedicated to change the way the world uses energy in the electric vehicle industry. The company is headquartered in Barcelona, Barcelona. The firm offers electric vehicles charging and energy management solutions for residential, semi-public and public use. Its product portfolio includes Quasar, a direct current bidirectional charger for home use; Supernova and Hypernova, direct current fast and ultrafast chargers for public use; and a suite of alternating current charging solutions and smart energy management software. The Firm is present in Europe, Asia and the Americas. The firm holds interest in several subsidiaries, such as Kensington Capital Acquisition Corp II and Wall Box Chargers SL.
Wallbox NV is a global company, dedicated to change the way the world uses energy in the electric vehicle industry. The company is headquartered in Barcelona, Barcelona. The firm offers electric vehicles charging and energy management solutions for residential, semi-public and public use. Its product portfolio includes Quasar, a direct current bidirectional charger for home use; Supernova and Hypernova, direct current fast and ultrafast chargers for public use; and a suite of alternating current charging solutions and smart energy management software. The Firm is present in Europe, Asia and the Americas. The firm holds interest in several subsidiaries, such as Kensington Capital Acquisition Corp II and Wall Box Chargers SL.
Revenue Miss: Q3 revenue came in at EUR 35.5 million, below company expectations and outside the guided range, though up 2% year-over-year.
Gross Margin Beat: Gross margin was 39.8%, exceeding the guided range of 37% to 39% and improving 200 basis points over the last quarter.
Operational Efficiency: Labor costs and operating expenses declined by 28% year-over-year; cash costs dropped 34% year-over-year, reflecting significant cost-cutting.
DC Sales Strength: DC sales rose 40% quarter-over-quarter and 34% year-over-year, driven by demand for Supernova products, particularly in North America.
Adjusted EBITDA: Adjusted EBITDA loss was EUR 6.9 million, slightly below guidance but improved 8% sequentially and reduced by 68% versus last year.
Debt Standstill: The company reached a standstill agreement with most lenders on its EUR 179 million debt, with news expected by December 9.
Q4 Guidance: Revenue is expected between EUR 36 million and EUR 39 million; gross margin is guided between 38% and 40%; negative adjusted EBITDA expected between EUR 6 million and EUR 4 million.
