Wallbox N.V. ( (WBX) ) has released its Q3 earnings. Here is a breakdown of the information Wallbox N.V. presented to its investors.
Wallbox N.V., headquartered in Barcelona, is a global technology company specializing in electric vehicle charging and energy management solutions, serving residential, semi-public, and public sectors in over 100 countries.
In its third quarter 2024 financial results, Wallbox reported a revenue of €34.7 million, highlighting a 7% increase compared to the previous year, despite a one-time revenue charge. Notably, the company achieved significant growth in North America with a 45% year-over-year revenue increase, which contrasts sharply with the overall modest growth in the EV market.
The financial results also underline Wallbox’s operational optimization efforts, including cost and capital expenditure reductions. Year-to-date revenue grew by 26%, outpacing the 3% growth of the broader EV markets where Wallbox operates, emphasizing its strategic geographical and product diversification.
Looking forward, Wallbox expects its fourth quarter 2024 revenue to range between €40 million and €45 million, indicating a potential growth rate of 23% to 38% year-over-year. The company also anticipates a gross margin of 38% to 40%, while projecting a negative adjusted EBITDA between €(7) million and €(10) million.
Wallbox’s management remains optimistic about the long-term potential of the EV industry, despite the current slower-than-expected market transition, and continues to focus on aligning its cost structure with demand to drive profitability and shareholder value.
