WBX

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Release Date: November 04, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. - Order intake remained robust, driving backlog up to EUR16.9 million from EUR12 million in Q2, providing visibility for future revenue. - Adjusted EBITDA loss improved 24% year-over-year to EUR5.3 million, within the guided range, showcasing strong cost discipline. - Operating expenses decreased 34% year-over-year to EUR15 million, reflecting successful cost control and restructuring efforts. - North America revenue grew 15% sequentially despite a 9% decline in the regional EV market, indicating market share gains. - New product launches like Pulsar Max and partnerships such as with Enode expand the product and partner portfolio, supporting future growth. - Revenue of EUR24.2 million fell below the guided range of EUR29-31 million, down 32% year-over-year, due to supply chain constraints. - Gross margin declined to 36.5% from 38% in the previous quarter, missing the 38-40% guidance, primarily due to unfavorable product mix. - DC sales plummeted 65% quarter-over-quarter to EUR0.6 million, impacted by delivery timing and supply issues. - Cash position decreased significantly to EUR10.4 million from EUR25.1 million at the end of Q2, partly due to restructuring payments. - Supply chain challenges persist, preventing conversion of backlog into revenue, with resolution expected over the next months. - Warning! GuruFocus has detected 8 Warning Signs with WBX. - Is WBX fairly valued? Test your thesis with our free DCF calculator. Q: Revenue came in at EUR24.2 million, below the EUR29 million to EUR31 million guidance range. What caused the shortfall, and is demand weakening? A: CEO Enric Asuncion attributed the miss primarily to timing rather than demand. Orders could not be converted into revenue due to continuing operational challenges in the supply chain, which is why order intake and backlog are growing while revenue lags. He noted that if the generated backlog had been converted as planned, revenue would have landed within the guided range, and the company is working closely with suppliers to resolve constraints over the next months. Q: How is the order backlog trending, and what does it mean for future profitability? A: CEO Enric Asuncion said backlog reached EUR16.9 million at the end of September, up from EUR12 million at the end of the second quarter, with EUR14.7 million related to AC (including EUR0.65 million of bidirectional charging) and EUR2.2 million of fast charging. CFO Isabel Lopez Trujillo added that with the current cost base largely in place, converting this backlog into revenue should have a significant positive impact on the bottom line through operating leverage. Q: Adjusted EBITDA loss of EUR5.3 million landed within guidance despite the revenue miss. How was this achieved? A: CFO Isabel Lopez Trujillo said the result reflects strict cost control, with labor costs and operating expenses at EUR15 million, a 34% improvement year-over-year and 15% sequentially. The adjusted EBITDA loss improved 32% quarter-over-quarter and 24% year-over-year, within the guided range of negative EUR6.5 million to negative EUR4.5 million, demonstrating cost discipline even with revenue below guidance. Q: Gross margin of 36.5% fell below the 38% to 40% guided range. What drove the decline? A: CEO Enric Asuncion said the main driver was product mix, as DC charging, which carries a higher gross margin than AC, represented only 3% of revenue this quarter versus 7% in the second quarter. CFO Isabel Lopez Trujillo added that warranty spend, while stable in absolute terms, had a proportionally larger impact due to lower revenue levels. Q: DC sales declined 65% quarter-over-quarter to EUR0.6 million. Is this a product issue or something else? A: CEO Enric Asuncion said the decline relates to the timing of deliveries and supply constraints, and that the company could not participate in selected tenders as the aftermath of its restructuring process was settling down. He emphasized this is an operational issue being addressed, not a product issue, and that the EUR2.2 million fast charging backlog provides visibility as supply normalizes. Q: The North American EV market fell 36% year-over-year, yet Wallbox grew 15% sequentially in the region. How? A: CEO Enric Asuncion said North America contributed EUR6.5 million, or 27% of total revenue, up 15% sequentially despite the market decline following the removal of incentives and tax credits. He credited focus on key clients and segments where electrification continues to grow, while acknowledging the region is expected to remain challenging. Q: Europe's EV market grew 35% year-over-year, but Wallbox's EMEA revenue fell 26%. Why the disconnect? A: CEO Enric Asuncion said EMEA contributed EUR17.5 million, or 72% of revenue, down 1% sequentially and 26% year-over-year, even as the European EV market expanded. He attributed the gap to supply chain constraints limiting revenue conversion, while noting sales order intake remained resilient and resources continue to be dedicated to priority countries including Spain, France, Benelux, Germany, and North America. Q: Cash fell to EUR10.4 million from EUR25.1 million at the end of June. What is the plan to fund working capital? A: CFO Isabel Lopez Trujillo said the cash position was impacted by funding operations and payments related to the restructuring process. Financing efforts are focused on securing the right level of working capital needed to convert the backlog, strengthen supplier relationships, and support expected growth. She noted loans and borrowings total EUR186.7 million, with approximately 80% now long-term, providing a stable maturity profile. Q: What is the outlook and guidance for the fourth quarter of 2026? A: CEO Enric Asuncion guided fourth-quarter revenue to EUR29 million to EUR31 million, gross margin between 36% and 38%, and negative adjusted EBITDA between EUR5.5 million and EUR3.5 million. He said the focus is on the third pillar of the plan for a renewed Wallbox: reaccelerating growth by converting backlog into revenue and cash while remaining disciplined on cost. Q: How is inventory being managed, and is it a source of cash? A: CFO Isabel Lopez Trujillo said inventory landed at EUR39.1 million, broadly stable sequentially and down EUR11.6 million, or 23%, year-over-year, which released cash to support operations. As the backlog converts, component purchases will be matched to confirmed orders so inventory continues to be a source of working capital generation. CapEx remained light at EUR0.8 million year-to-date, down 61% year-over-year. Q: What progress has been made on products and partnerships? A: CEO Enric Asuncion highlighted the launch of the new generation Pulsar Max in Europe with ISO 15118-ready hardware, built-in RFID authentication, and Ethernet connectivity, progressively available across European markets from November. He also cited traction for Pulsar Pro, with 120 chargers operational at Montreal Metropolitan Airport and 48 more planned for 168 total charging points, plus an October partnership with Enode enabling connection to third-party apps and energy services across Europe. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

BARCELONA, Spain, Nov. 04, 2026 (GLOBE NEWSWIRE) -- Wallbox N.V. (NYSE:WBX), a leading provider of electric vehicle ("EV") charging and energy management solutions worldwide, today announced its financial results for the third quarter ended September 30, 2026 and provided a business update. Third Quarter 2026 Highlights and Business Update: - Generated revenue of €24.2 million in the quarter. - Gross Margin1 landed at 36.5%, impacted by product mix. - Adjusted EBITDA1 was €(5.3) million, landing within guidance, improving 24% year-over-year and 32% compared to last quarter. - Continued improvement in operational efficiency resulted in a 34% year-over-year reduction in labor costs and operating expenses. - Launched the new generation of Pulsar Max across European markets, featuring ISO 15118-ready hardware, built-in RFID, and Ethernet connectivity for enhanced charging performance. - Secured €4 million of additional funding after the quarter through a convertible loan from existing shareholders. Executive Commentary Enric Asunción, CEO of Wallbox, said, "In the third quarter of 2026, order intake remained solid and our order backlog continued to grow, reaching €16.9 million at the end of September. However, this is not yet reflected in our revenue, as supply chain constraints continue to limit our ability to convert orders into deliveries on schedule. We are working closely with our suppliers and expect to resolve these constraints during the next quarters. At the same time, strong cost control allowed us to deliver adjusted EBITDA within our guidance." Mr. Asunción added, "With a robust backlog and customer demand, we are well positioned to grow once supply constraints ease. Our financing efforts are focused on securing sufficient working capital to support this growth with the €4 million of existing shareholders as the first example. At the same time, we are converting orders into deliveries in a disciplined way, which we believe will drive more efficient operations and continued progress toward profitability." Financial Outlook - Fourth Quarter 2026 The following reflects the company's expectations for select key financial metrics for the fourth quarter of 2026. - Expects revenue to be in the range of €29 million to €31 million - Expects Gross Margin1 between 36% and 38% - Expects a negative Adjusted EBITDA1 between €(5.5) million and €(3.5) million 1 See Non-IFRS Financial Measures section below Conference Call Information Wallbox NV will host a conference call to discuss the results and provide a business update at 8:00 AM Eastern Time today, November 4, 2026. The live audio webcast and accompanying presentation will be accessible on Wallbox's Investor Relations website at https://investors.wallbox.com/. A recording of the webcast will also be available following the conference call. Third Quarter 2026 Unaudited Financial Results Wallbox N.V. Consolidated Statements of Profit or Loss (In thousand Euros) | Year End | Quarter End | | | | | | | | 2025 | 2024 | Q3 2026 | Q2 2026 | Q3 2025 | | | | | | | Revenue | 145,120 | 163,943 | 24,201 | 23,918 | 35,481 | Changes in inventories and raw materials and consumables used | (89,582) | (107,920) | (15,373) | (14,836) | (21,346) | Gross Profit | 55,538 | 56,023 | 8,828 | 9,082 | 14,135 | | | | | | | Employee benefits | (51,561) | (71,488) | (8,191) | (10,297) | (12,148) | Other operating expenses | (42,701) | (54,089) | (6,804) | (7,032) | (10,736) | Amortization and depreciation | (34,189) | (37,873) | (4,971) | (4,442) | (9,487) | Impairment of assets | (26,755) | (26,415) | – | – | 1,288 | Net other income | 374 | 25 | 285 | 1,673 | (12) | Operating Loss | (99,294) | (133,817) | (10,853) | (11,016) | (16,960) | | | | | | | Financial income | 533 | 1,945 | 2 | 11 | 53 | Financial expense | (17,920) | (23,680) | (7,258) | (9,461) | (4,842) | Change in fair value of derivative warrant liabilities | 1,910 | 1,081 | 2,288 | (7,277) | 536 | Foreign exchange gains / (losses) | 11,663 | (4,044) | (1,743) | (996) | 193 | Financial Results | (3,814) | (24,698) | (6,711) | (17,723) | (4,060) | | | | | | | Loss Before Tax | (103,108) | (158,515) | (17,564) | (28,739) | (21,020) | | | | | | | Income tax credit | (87) | 6,723 | 222 | 159 | 142 | | | | | | | Loss for the Period | (103,195) | (151,792) | (17,342) | (28,580) | (20,878) | Reconciliation (In thousand Euros) | Year End | Quarter End | | | | | 2025 | 2024 | Q3 2026 | Q2 2026 | Q3 2025 | | | | | | | Loss for the Period | (103,195) | (151,792) | (17,342) | (28,580) | (20,878) | | | | | | | Income tax credit | 87 | (6,723) | (222) | (159) | (142) | Amortization and depreciation | 34,189 | 37,873 | 4,971 | 4,442 | 9,487 | Financial income | (533) | (1,945) | (2) | (11) | (53) | Financial expenses | 17,920 | 23,680 | 7,258 | 9,461 | 4,842 | Change in fair value of derivative warrant liabilities | (1,910) | (1,081) | (2,288) | 7,277 | (536) | Foreign exchange gains/(losses) | (11,663) | 4,044 | 1,743 | 996 | (193) | EBITDA | (65,105) | (95,944) | (5,882) | (6,574) | (7,473) | | | | | | | Share based payment plan expenses | 1,746 | 2,837 | 152 | 62 | 605 | Other items | (374) | (25) | (285) | (1,673) | 12 | One-time expenses | 7,450 | 6,123 | 757 | 397 | 1,207 | Other non-cash expenses | 67 | 712 | – | – | – | Impairment of assets | 26,755 | 26,415 | – | – | (1,288) | Adjusted EBITDA | (29,461) | (59,882) | (5,258) | (7,788) | (6,937) | Wallbox N.V. Cash and Cash Equivalents Cash and Cash Equivalents (In thousand Euros) | Quarter Ended September 30 | | Year Ended December 31 | | 2026 | | 2025 | | 2025 | | 2024 | Cash and cash equivalents | 5,293 | | 2,635 | | 4,446 | | 20,036 | Financial Investments (1) | 5,116 | | 25,103 | | 5,133 | | 25,578 | | | | | | | | | Cash, cash equivalents and Financial Investments | 10,409 | | 27,738 | | 9,579 | | 45,614 | | | | | | | | | (1) Financial Investments are included in Other current financial assets | | | | | | | Wallbox N.V. Investments and Loans & Borrowings Investments and Loans & Borrowings (In thousand Euros) | Quarter Ended September 30 | | Year Ended December 31 | | | 2026 | | 2025 | | 2025 | | 2024 | Investments in Property, plant and equipment and Intangible Assets | | | | | | | | | | | | | | | | | | Property, plant and equipment | 258 | | (123) | | 619 | | 3,114 | | Intangible assets - excluding R&D (salaries capitalized) | 207 | | 423 | | 1,367 | | 6,790 | | | | | | | | | | Total Investments in Property, plant and equipment and Intangible Assets | 465 | | 300 | | 1,986 | | 9,904 | | | | | | | | | | | Non-Current Liabilities – Loans and Borrowings | 149,173 | | 67,344 | | 54,764 | | 66,659 | | Current Liabilities – Loans and Borrowings | 37,531 | | 111,804 | | 109,902 | | 131,810 | | | | | | | | | | Total Loans and Borrowings | 186,704 | | 179,148 | | 164,666 | | 198,469 | Forward Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Wallbox intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release other than statements of historical fact should be considered forward-looking statements, including, without limitation, statements regarding Wallbox's expected future operating results and financial position, growth, profitability and cost optimization, including the expected impact of Wallbox's renewed capital structure; industry and company growth, and Wallbox's business strategy and plans and related reinforcement of Wallbox's sales and service organization. The words "anticipate," "believe," "can," "continue," "could," "estimate," "expect," "focus," "forecast," "intend," "likely," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: Wallbox's history of operating losses; risks related to the restructuring plan, including Wallbox's inability to achieve projected operating improvements following the restructuring; the adoption and demand for electric vehicles including the success of alternative fuels, changes to rebates, tax credits and the impact of government incentives or reduction thereof; political and economic uncertainty and macroeconomic factors, such as impacts from tariffs and trade barriers, geopolitical conflicts, consumer spending, inflation and foreign exchange rates; the accuracy of Wallbox's forecasts and projections including those regarding its market opportunity; competition; risks related to losses or disruptions in Wallbox's supply or manufacturing partners; Wallbox's reliance on the third-parties outside of its control; risks related to Wallbox's technology, intellectual property and infrastructure; executive orders and regulatory changes under the U.S. political administration and uncertainty therefrom, as well as the other important factors discussed under the caption "Risk Factors" in Wallbox's Annual Report on Form 20-F for the fiscal year ended December 31, 2025, as such factors may be updated from time to time in its other filings with the Securities and Exchange Commission (the "SEC"), accessible on the SEC's website at www.sec.gov and the Investor Relations section of Wallbox's website at investors.wallbox.com. Any such forward-looking statements represent management's estimates as of the date of this press release. Any forward-looking statement that Wallbox makes in this press release speaks only as of the date of such statement. Except as required by law, Wallbox disclaims any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise. Non-IFRS Financial Measures Wallbox reports its financial information required in accordance with the International Financial Reporting Standards ("IFRS"). This release includes financial measures not based on IFRS, including Adjusted EBITDA and Gross Margin (the "Non-IFRS Measures"). See the definitions set forth below for a further explanation of these terms. Wallbox defines "Gross Margin" as revenue less changes in inventory, raw materials and other consumables used, divided by revenue. Wallbox defines EBITDA as loss for the period before income tax credit, financial income, financial expenses, amortization and depreciation, change in fair value of derivative warrants and foreign exchange gains/(losses). Wallbox defines Adjusted EBITDA as EBITDA for the period further adjusted to take into account the impact of certain non-cash and other items that it does not consider in its evaluation of the Company's ongoing operating performance. These non-cash and other items include, but not are limited to: share based payment plan expenses, certain one-time expenses related to a reduction in workforce initiated in January 2023, certain non-cash expenses related to the ESPP plan launched in January 2023, any negative goodwill arising from business combinations, impairment of assets and other items outside the scope of our ordinary activities. Management uses these Non-IFRS Measures as measurements of operating performance because they assist management in comparing the Company's operating performance on a consistent basis, as they remove the impact of items not directly resulting from the Company's core operations; for planning purposes, including the preparation of management's internal annual operating budget and financial projections; to evaluate the performance and effectiveness of the Company's strategic initiatives; and to evaluate the Company's capacity to fund capital expenditures and expand its business. The Non-IFRS Measures may not be comparable to similar measures disclosed by other companies, because not all companies and analysts calculate these measures in the same manner. Wallbox presents the Non-IFRS Measures because management considers them to be important supplemental measures of the Company's performance, and believes they are frequently used by securities analysts, investors and other interested parties in the evaluation of companies. Management believes that investors' understanding of the Company's performance is enhanced by including the Non-IFRS Measures as a reasonable basis for comparing its ongoing results of operations. By providing the Non-IFRS Measures, together with reconciliations to IFRS, management believes it is enhancing investors' understanding of the Company's business and its results of operations, as well as assisting investors in evaluating how well the Company is executing its strategic initiatives. Items excluded from the Non-IFRS Measures are significant components in understanding and assessing financial performance. The Non-IFRS Measures have limitations as analytical tools and should not be considered in isolation, or as an alternative to, or a substitute for loss for the period, revenue or other financial statement data presented in the Company's consolidated financial statements as indicators of financial performance. Some of the limitations are: such measures do not reflect revenue related to fulfillment, which is necessary to the operation of Wallbox's business; such measures do not reflect the Company's expenditures, or future requirements for capital expenditures or contractual commitments; such measures do not reflect changes in the Company's working capital needs; such measures do not reflect the Company's share based payments, income tax benefit/(expense) or the amounts necessary to pay its taxes; although depreciation and amortization are not included in the calculation of Adjusted EBITDA, the assets being depreciated and amortized will often have to be replaced in the future and such measures do not reflect any costs for such replacements; and other companies may calculate such measures differently than Wallbox does, limiting their usefulness as comparative measures. Due to these limitations, Adjusted EBITDA should not be considered as a measure of discretionary cash available to Wallbox to invest in the growth of its business and are in addition to, not a substitute for or superior to, measures of financial performance prepared in accordance with IFRS. In addition, the Non-IFRS Measures Wallbox uses may differ from the non-IFRS financial measures used by other companies and are not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with IFRS. Furthermore, not all companies or analysts may calculate similarly titled measures in the same manner. The Company compensates for these limitations by relying primarily on its IFRS results and using the Non-IFRS Measures only as supplemental measures. Reconciliations of the forward-looking Non-IFRS Measures to the most directly comparable IFRS measures cannot be provided without unreasonable efforts and are not provided herein because of the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliations and certain other items reflected in our reconciliation of historical Non-IFRS Measures, the amounts of which could be material. About Wallbox Wallbox is a global technology company, dedicated to changing the way the world uses energy. Wallbox creates advanced electric vehicle charging and energy management systems that redefine the relationship between users and the network. Wallbox goes beyond charging electric vehicles to give users the power to control their consumption, save money and live more sustainably. Wallbox offers a complete portfolio of charging and energy management solutions for residential, semi-public, and public use in more than 100 countries around the world. Founded in 2015 in Barcelona, where the company's headquarters are located, Wallbox currently has offices across Europe, Asia, and America. For more information, visit www.wallbox.com Wallbox Public Relations Contact: Gemma Salvatella Public Relations [email protected] | Wallbox Investor Contact: Michael Wilhelm Corporate Development & IR [email protected] Source: Wallbox N.V.

Interested in Wallbox N.V.? Here are five stocks we like better. Revenue missed guidance: Wallbox reported Q2 revenue of €23.9 million, down 19% sequentially, because vendor negotiations and restructuring-related constraints limited shipments—not because of weaker demand. Order intake rose 11%, increasing backlog to nearly €12 million. Profitability remained pressured: Gross margin held at approximately 38%, but the adjusted EBITDA loss widened to €7.8 million as lower revenue reduced operating leverage. North American revenue fell sharply year over year, while EMEA orders increased. Liquidity and execution are key priorities: Wallbox completed an approximately €11.8 million equity raise, received €10.5 million under Canada’s clean-fuel program and extended much of its debt maturities toward 2030. For Q3, it expects revenue of €29 million to €31 million and an adjusted EBITDA loss of €4.5 million to €6.5 million as it converts backlog into shipments. Generac Raises Guidance: Why Is the Stock Still a Hold? Wallbox (NYSE:WBX) reported second-quarter 2026 revenue below its prior guidance as operational constraints tied to vendor negotiations limited shipments, even as order intake increased and the company built its backlog. Revenue for the quarter ended June 30 was €23.9 million, down 19% sequentially and below the company’s guided range of €33 million to €36 million. Wallbox delivered about 22,980 units and 40 DC units during the period. → Microsoft Just Flipped the AI Spending Narrative Overnight Chief Executive Officer Enric Asunción said the revenue shortfall did not reflect weaker demand. AC and DC order intake increased 11% from the first quarter, exceeding revenue and lifting total backlog to nearly €12 million. He attributed the gap between orders and invoicing to operational constraints during the final stages of Wallbox’s restructuring, including negotiations of new terms with vendors. Gross margin was approximately 38%, at the low end of Wallbox’s 38% to 40% guidance range but 70 basis points above the prior quarter. Asunción said the result indicated that product mix and cost discipline remained intact despite lower shipment volumes. → 2 Unique Space ETFs That Could Upend the Industry Labor costs and operating expenses totaled €17.3 million, roughly flat sequentially and down 29% from a year earlier. The company said its cost-reduction progress is beginning to level off as it selectively invests in sales and service capacity to support its backlog, while continuing efforts to simplify operations, centralize activities and improve systems. Adjusted EBITDA loss widened to €7.8 million from a €6 million loss in the first quarter, missing Wallbox’s guidance for a loss of €3 million to €5 million. Chief Financial Officer Isabel López Trujillo said the wider loss resulted from lower operating leverage on the reduced revenue base rather than weaker gross margin, pricing or unit economics. → MarketBeat Week in Review – 07/27- 07/31 “As our backlog converts into revenue and we can accelerate sales momentum in the coming quarters, we expect the same cost base to support a meaningfully better adjusted EBITDA outcome,” López Trujillo said. EMEA generated €17.7 million of revenue, representing about 74% of Wallbox’s consolidated total and down 22% sequentially. However, AC and DC order intake in the region increased 14% from the first quarter. Wallbox also announced a partnership with Freenow by Lyft in May to support taxi electrification in Germany, France, the United Kingdom, Ireland and Spain. North American revenue was €5.6 million, or about 23% of total revenue, declining 16% sequentially and about 50% year over year. Wallbox said the decline partly reflected a softer North American EV market, while regional AC and DC order intake was approximately flat from the first quarter. The company expects a stronger contribution from large accounts during the second half. Latin America revenue rose 64% sequentially to €615,000, though it remained a small portion of consolidated sales. APAC revenue was nearly negligible, similar to the previous quarter. AC sales, including ABL and Quasar products, were €15.8 million, or 66% of revenue, down 25% sequentially. AC order intake was €22.6 million, up 6% from the first quarter, with Europe and the rest of world up 20%. DC sales were €1.6 million, or 7% of revenue, down 37% sequentially, while DC orders increased 80% to €3 million. Software, services and other revenue rose 8% sequentially to €6.5 million, or 27% of total revenue. The company launched Pulsar Pro across the European Union during the quarter, targeting charging reimbursement needs for drivers, employers, fleets and property managers. Wallbox also completed the first real-world European deployment of its Supernova power-sharing architecture at Port de Sitges, with capacity to deliver up to 400 kilowatts to a single vehicle and up to 720 kilowatts across a shared system. Wallbox said the Commercial Court of Barcelona approved its comprehensive financial restructuring plan in May and that the approval became final after objection and appeal periods expired without challenges. Total loans and borrowings were €191.3 million at quarter-end, compared with €168.2 million in the prior quarter. The increase included the reclassification of approximately €13 million in trade payables into long-term debt, additional working-capital facilities and other refinancing-related items. Long-term debt increased to €140.1 million from €44 million, while short-term debt declined to €51.1 million from €124.2 million, with maturities largely extended toward 2030. After the quarter ended, Wallbox completed an approximately €11.8 million equity raise under the restructuring plan, including a previously announced €5 million investment from the Generalitat de Catalunya through IFEM and capitalization of accrued interest on an April bridge loan. The company also secured a separate €4 million investment from Focus on Next Frontier, the investment vehicle of Rafael Ruiz. Wallbox additionally received about €10.5 million through Canada’s Clean Fuel Regulations framework for eligible EV charging activity across its connected AC charger base. The company said the funds must be reinvested in Canada to support EV adoption. Cash equivalents and financial investments totaled approximately €25.1 million at the end of the period, up from €7.6 million at the end of the first quarter. Inventory declined 4% sequentially and 32% year over year to €38.8 million. For the third quarter, Wallbox forecast revenue of €29 million to €31 million, gross margin of 38% to 40%, and an adjusted EBITDA loss of €4.5 million to €6.5 million. Asunción said the company has addressed operational bottlenecks associated with vendor negotiations and is prioritizing the conversion of backlog into revenue. He said Wallbox expects improved supplier terms, more stable shipping schedules and greater supply-chain reliability to support its return to growth. Wallbox also noted that the New York Stock Exchange accepted its plan to regain compliance with continued listing standards. The company has an 18-month cure period, subject to semiannual reviews, to restore stockholders’ equity or average market capitalization to at least $50 million over a consecutive 30-trading-day period. Its Class A shares remain listed and trading on the NYSE. Wallbox is a global provider of electric vehicle (EV) charging solutions, offering hardware and software designed to simplify and optimize the charging experience for residential, commercial and public applications. The company's product lineup includes smart home chargers, DC fast chargers for fleet and commercial use, and energy management systems that integrate with solar panels and battery storage. Through its myWallbox software platform, users can remotely monitor and control charging sessions, track energy consumption and set custom charging schedules. Headquartered in Barcelona, Spain, Wallbox has expanded its operations across Europe, North America, Asia and Australia, establishing regional offices and service centers to support customers and channel partners. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Wallbox Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

BARCELONA, Spain, July 30, 2026--(BUSINESS WIRE)--Wallbox N.V. (NYSE:WBX), a leading provider of electric vehicle ("EV") charging and energy management solutions worldwide, today announced its financial results for the second quarter ended June 30, 2026 and provided a business update. Second Quarter 2026 Highlights and Business Update: Generated revenue of €23.9 million in the quarter. AC and DC sales order intake increased 11% quarter-over-quarter. Delivered Gross Margin1 of 38%, improving 70 basis points compared to last quarter. Adjusted EBITDA1 was €(7.8) million, nearly flat year-over-year. Continued improvement in operational efficiency resulted in a 29% year-over-year reduction in labor costs and operating expenses. Reduced inventory by approximately 4% compared to the last quarter, continuing to support incremental cash flow. Completed financial restructuring, including an €15.8 million equity raise and additional financing of €5.4 million from our banking partners strengthening our balance sheet and long-term financial visibility. Executive Commentary Enric Asunción, CEO of Wallbox, said, "In the second quarter of 2026, we saw sequential improvement in order intake, reflecting encouraging commercial traction across our core markets. However, this was not yet fully reflected in revenue, as we have been redefinding our vendor base, limiting our ability to convert orders into deliveries on schedule, resulting in a growing backlog." Mr. Asunción added, "At the same time, we completed our previously announced financial restructuring, which gives us improved long-term financial visibility, and secured additional investors to strengthen our capital position. Going forward, we are focused on converting our growing backlog in a disciplined way, which we believe will support more efficient operations and continued progress toward profitability." Financial Outlook - Third Quarter 2026 The following reflects the company’s expectations for select key financial metrics for the third quarter of 2026. Expects revenue to be in the range of €29 million to €31 million Expects Gross Margin1 between 38% and 40% Expects a negative Adjusted EBITDA1 between €(6.5) million and €(4.5) million Conference Call Information Wallbox NV will host a conference call to discuss the results and provide a business update at 8:00 AM Eastern Time today, July 30, 2026. The live audio webcast and accompanying presentation will be accessible on Wallbox’s Investor Relations website at https://investors.wallbox.com/. A recording of the webcast will also be available following the conference call. Forward Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Wallbox intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release other than statements of historical fact should be considered forward-looking statements, including, without limitation, statements regarding Wallbox’s expected future operating results and financial position, growth, profitability and cost optimization, including the expected impact of Wallbox’s renewed capital structure; industry and company growth, and Wallbox’s business strategy and plans and related reinforcement of Wallbox’s sales and service organization. The words "anticipate," "believe," "can," "continue," "could," "estimate," "expect," "focus," "forecast," "intend," "likely," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: Wallbox’s history of operating losses; risks related to the restructuring plan, includingWallbox’s inability to achieve projected operating improvements following the restructuring; the adoption and demand for electric vehicles including the success of alternative fuels, changes to rebates, tax credits and the impact of government incentives or reduction thereof; political and economic uncertainty and macroeconomic factors, such as impacts from tariffs and trade barriers, geopolitical conflicts, consumer spending, inflation and foreign exchange rates; the accuracy of Wallbox’s forecasts and projections including those regarding its market opportunity; competition; risks related to losses or disruptions in Wallbox’s supply or manufacturing partners; Wallbox’s reliance on the third-parties outside of its control; risks related to Wallbox’s technology, intellectual property and infrastructure; executive orders and regulatory changes under the U.S. political administration and uncertainty therefrom, as well as the other important factors discussed under the caption "Risk Factors" in Wallbox’s Annual Report on Form 20-F for the fiscal year ended December 31, 2025, as such factors may be updated from time to time in its other filings with the Securities and Exchange Commission (the "SEC"), accessible on the SEC’s website at www.sec.gov and the Investor Relations section of Wallbox’s website at investors.wallbox.com. Any such forward-looking statements represent management’s estimates as of the date of this press release. Any forward-looking statement that Wallbox makes in this press release speaks only as of the date of such statement. Except as required by law, Wallbox disclaims any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise. Non-IFRS Financial Measures Wallbox reports its financial information required in accordance with the International Financial Reporting Standards ("IFRS"). This release includes financial measures not based on IFRS, including Adjusted EBITDA and Gross Margin (the "Non-IFRS Measures"). See the definitions set forth below for a further explanation of these terms. Wallbox defines "Gross Margin" as revenue less changes in inventory, raw materials and other consumables used, divided by revenue. Wallbox defines EBITDA as loss for the period before income tax credit, financial income, financial expenses, amortization and depreciation, change in fair value of derivative warrants and foreign exchange gains/(losses). Wallbox defines Adjusted EBITDA as EBITDA for the period further adjusted to take into account the impact of certain non-cash and other items that it does not consider in its evaluation of the Company’s ongoing operating performance. These non-cash and other items include, but not are limited to: share based payment plan expenses, certain one-time expenses related to a reduction in workforce initiated in January 2023, certain non-cash expenses related to the ESPP plan launched in January 2023, any negative goodwill arising from business combinations, impairment of assets and other items outside the scope of our ordinary activities. Management uses these Non-IFRS Measures as measurements of operating performance because they assist management in comparing the Company’s operating performance on a consistent basis, as they remove the impact of items not directly resulting from the Company’s core operations; for planning purposes, including the preparation of management’s internal annual operating budget and financial projections; to evaluate the performance and effectiveness of the Company’s strategic initiatives; and to evaluate the Company’s capacity to fund capital expenditures and expand its business. The Non-IFRS Measures may not be comparable to similar measures disclosed by other companies, because not all companies and analysts calculate these measures in the same manner. Wallbox presents the Non-IFRS Measures because management considers them to be important supplemental measures of the Company’s performance, and believes they are frequently used by securities analysts, investors and other interested parties in the evaluation of companies. Management believes that investors’ understanding of the Company’s performance is enhanced by including the Non-IFRS Measures as a reasonable basis for comparing its ongoing results of operations. By providing the Non-IFRS Measures, together with reconciliations to IFRS, management believes it is enhancing investors’ understanding of the Company’s business and its results of operations, as well as assisting investors in evaluating how well the Company is executing its strategic initiatives. Items excluded from the Non-IFRS Measures are significant components in understanding and assessing financial performance. The Non-IFRS Measures have limitations as analytical tools and should not be considered in isolation, or as an alternative to, or a substitute for loss for the period, revenue or other financial statement data presented in the Company’s consolidated financial statements as indicators of financial performance. Some of the limitations are: such measures do not reflect revenue related to fulfillment, which is necessary to the operation of Wallbox’s business; such measures do not reflect the Company’s expenditures, or future requirements for capital expenditures or contractual commitments; such measures do not reflect changes in the Company’s working capital needs; such measures do not reflect the Company’s share based payments, income tax benefit/(expense) or the amounts necessary to pay its taxes; although depreciation and amortization are not included in the calculation of Adjusted EBITDA, the assets being depreciated and amortized will often have to be replaced in the future and such measures do not reflect any costs for such replacements; and other companies may calculate such measures differently than Wallbox does, limiting their usefulness as comparative measures. Due to these limitations, Adjusted EBITDA should not be considered as a measure of discretionary cash available to Wallbox to invest in the growth of its business and are in addition to, not a substitute for or superior to, measures of financial performance prepared in accordance with IFRS. In addition, the Non-IFRS Measures Wallbox uses may differ from the non-IFRS financial measures used by other companies and are not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with IFRS. Furthermore, not all companies or analysts may calculate similarly titled measures in the same manner. The Company compensates for these limitations by relying primarily on its IFRS results and using the Non-IFRS Measures only as supplemental measures. Reconciliations of the forward-looking Non-IFRS Measures to the most directly comparable IFRS measures cannot be provided without unreasonable efforts and are not provided herein because of the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliations and certain other items reflected in our reconciliation of historical Non-IFRS Measures, the amounts of which could be material. About Wallbox Wallbox is a global technology company, dedicated to changing the way the world uses energy. Wallbox creates advanced electric vehicle charging and energy management systems that redefine the relationship between users and the network. Wallbox goes beyond charging electric vehicles to give users the power to control their consumption, save money and live more sustainably. Wallbox offers a complete portfolio of charging and energy management solutions for residential, semi-public, and public use in more than 100 countries around the world. Founded in 2015 in Barcelona, where the company’s headquarters are located, Wallbox currently has offices across Europe, Asia, and America. For more information, visit www.wallbox.com Source: Wallbox N.V. View source version on businesswire.com: https://www.businesswire.com/news/home/20260730252429/en/ Contacts Wallbox Public Relations Contact: Albert CabanesPublic [email protected] Wallbox Investor Contact: Michael WilhelmCorporate Development & [email protected]

Q1 revenue of EUR 29.7 million fell below guidance, primarily driven by a 28% sequential decline in DC sales as customers sought clarity on the company's refinancing process. Management attributes the top-line softness to 'noise' around the balance sheet, which led distributors to reduce inventory levels and commercial partners to postpone large-scale orders. Operational efficiency improved significantly, with labor and operating expenses down 31% year-over-year, resulting in an 18% sequential improvement in adjusted EBITDA despite lower sales. The company is executing a strategic pivot from pure growth to a 'disciplined transformation' focused on profitability and a leaner organizational structure. Geographic performance was impacted by a 27% year-over-year decline in the North American EV market and a conscious shift of resources away from APAC and LatAm to focus on core profitable regions. Inventory reduction remains a key success metric, decreasing 37% year-over-year to EUR 40.3 million, which management expects will improve long-term bill of materials costs. The signing of a comprehensive refinancing plan, including EUR 11 million in interim financing, is expected to restore customer and vendor confidence in the company's long-term viability. Q2 2026 guidance assumes a revenue recovery to the EUR 33 million to EUR 36 million range, predicated on the resolution of refinancing uncertainties. Management expects gross margins to return to the 38% to 40% range as the product mix shifts back toward higher-margin DC fast chargers. The company is shifting focus toward 'reaccelerating growth' by investing in sales and service capacity to better support distribution partners and end customers. Future growth is expected to be driven by new product availability, including the Quasar 2, the CTEP certified Pulsar for commercial use, and the 400kW Supernova PowerRing. The financial outlook assumes the timely receipt of additional liquidity from the refinancing plan and anticipated carbon credit payments to meet near-term needs. Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. A major refinancing agreement has been signed and submitted for court approval, which will push the majority of debt maturities out to 2030. The company has centralized certain activities to reduce operational complexity, allowing for more flexible scaling in response to volatile EV market trends. North American EV market headwinds, including the removal of incentives and tax credits, are expected to persist throughout the year. CapEx has been significantly restricted, down 55% year-over-year, as the company focuses on leveraging existing assets rather than new heavy investment. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here.

Image source: The Motley Fool. Wednesday, May 6, 2026 at 8 a.m. ET Chief Executive Officer — Enric Asuncion Chief Financial Officer — Isabel Lopez Trujillo Enric Asuncion, Wallbox CEO; and Isabel Lopez Trujillo, Wallbox's CFO. Earlier today, we issued our press release announcing results from the first quarter ended March 31, 2026, which can also be found on our website. Before we begin, I would like to remind everyone that certain statements made on today's call are forward-looking that may be subject to risks and uncertainties relating to the future events and/or the future financial performance of the company. Actual results could differ materially from those anticipated. The risk factors that may affect results are detailed in the company's most recent public filings with the SEC, including the annual report on Form 20-F for the fiscal year ended December 31, 2025, filed on April 9, 2026. We will be presenting unaudited financial statements in IFRS format that reflect management's best assessment of actual results. Also, please note that we use certain non-IFRS financial measures on this call and reconciliations of these measures are included in the presentation posted on the Investors section of our website. Also, a copy of these prepared remarks can be obtained from the Investor Relations website under the Quarterly Results section, so you can more easily follow along with us today. So with that out of the way, I'll turn it over to Enric. Enric Asuncion: Thank you, Michael, and thanks, everyone, for joining us today. We will start today's call with an overview of our first quarter 2026 results, provide our perspective on the EV market and spend time discussing our operational improvement. Isabel will offer a closer look at our financial results, key financial metrics and our current financial position, including updates on the recently signed refinancing. After, I will close the conversation to highlight what we are focused on for the upcoming quarters. Q1 revenue was softer than expected. But overall, we had a solid first quarter as adjusted EBITDA improved sequentially due to continuous operational efficiency improvements. Total revenue landed at EUR 29.7 million, below guidance and down 12% compared to the previous quarter. The primary driver of the decline is DC sales, which are down 28% quarter-over-quarter. Although this is a disappointing result, customer feedback shows this is not product related, but rather the requirement to have clarity on Wallbox refinancing process. With the signing of the refinancing plan, we immediately secured EUR 11 million in interim financing and are now able to provide better long-term financial visibility to our customers, vendors and shareholders. The other business activities, AC sales and software, service and others also experienced a slowdown compared to last quarter related to the refinancing, but with a less significant impact. From a geographical perspective, the North American market due to a significant decline in EV sales, APAC and South America due to the shifting resources and priorities, all have been down sequentially. In total, during the first quarter, we delivered over 30,000 AC units and 79 DC units. It is important to note that although revenue declined quarter-over-quarter, the ratio of revenue to labor cost and operating expenses improved significantly compared to the same period last year. Gross margin was 37.3% in the first quarter, in line with the previous quarter, but landing below the 38% to 40% guided range. The main reason for the guidance miss relates to the lower-than-expected DC sales, resulting in a negative impact from the product mix. However, we have achieved another quarter with inventory improvement, which provides bill of materials cost improvement opportunities for the long term. Labor cost and operating expenses landed at EUR 17.1 million, improving 22% quarter-over-quarter and 31% compared to the same period last year. This is the result of the continuous efficiency efforts of the last quarters. It only reflects cost improvements, but also shift in resources and investment in sales and services. With optimized cost base, we believe there is opportunity to grow the top line while continuing to work on operational improvements in processes and systems. By centralizing certain activities and reducing the operational complexity, we are leaner and more flexible in responding to the volatile EV market, both to scale up in EV markets where there are opportunities and scale down in EV markets which experienced headwinds. Adjusted EBITDA loss for the first quarter of 2026 was EUR 6 million, missing our guided range, but improving 18% quarter-over-quarter. Compared to the same period last year, adjusted EBITDA loss improved by 23%. Softer-than-expected sales due to the refinancing process were the main reason for missing guidance this quarter. But considering this revenue level, the bottom line improvement is impressive. We continue to execute our plan towards profitability based on, one, continuous operational efficiency improvements; two, implementations of the restructured balance sheet for long-term financial visibility; and three, reestablishing our growth by leveraging our product portfolio with more sales and service capacity. The implementation of the refinancing is almost completed. We have made solid progress on the operational efficiency improvements and expect to see the results of our investment in sales and service soon. We have a more optimized organization with a stronger financial position and believe that operational profitability is within reach, assuming revenue improvement. For the first quarter of 2026, Europe or EMEA contributed EUR 22.6 million of consolidated revenue or 76% of total top line. This reflects an 8% decrease compared to the last quarter, which is in line with the market in the first quarter, which was down 9% in Europe after several strong quarters. In parallel, we continue to focus on recapturing market share by improving our capacity in the sales and service teams to better support our distribution partners and our end customers. We have started to see the initial effects but require more ramp-up time before we see the full impact of revenue. North America contributed EUR 6.7 million or 23% of the total revenue, reflecting a decrease of 41% compared to the same period last year. The drop can be attributed to a softer North American EV market, which was down 27% year-over-year and limited DC sales. However, we recorded a strong result in Canada, reflecting solid growth compared to last quarter. Looking ahead, we see opportunities to grow sales with Quasar 2, which is already commercially available and the CTEP certified Pulsar, which will be available soon for commercial applications. APAC and LatAm currently remain small region for Wallbox, consistent with the last quarter as attention and resources have been shifted to key markets. APAC sales were almost negligible this quarter and LatAm sales landed EUR 387,000 or approximately 1%. The shifting of resources is a conscious decision and part of our [indiscernible] improvement efforts towards profitability. We continue to sell through distribution partners, allowing us to potentially accelerate growth in this market in the future. AC sales of EUR 21.1 million, including ABL and Quasar, represented approximately 71% of our global consolidated revenue and down 8% compared to last quarter. Pulsar Max continues to be the best sold product with the Pulsar Max ABL, growing the fastest as we continue to support cross-selling. Other products, including Quasar 2 show a smaller contribution to our results than last quarter. In general, AC sales also experienced impact from the noise around the refinancing process as distributors and commercial partners stock up or less inventory that is typical. We aim to reverse this trend now we have the refinancing in place, assuming we receive required court approval and as we ramp up our efforts to complement then the strong value proposition of our products with improved sell-out support and service coverage. DC sales landed at EUR 2.5 million or 8% of sales and was down 28% compared to last quarter. In the case of DC, the refinancing process has had the largest impact as customers require long-term financial visibility and support from their suppliers. With the signing of the refinancing agreement at the beginning of April, Wallbox can now provide the required clarity and this resulted immediately in new orders. We have a strong [ DC ] charging product portfolio, which provides customers with a wide range of different and scalable charging configurations, including battery storage options. With the introduction of the Supernova PowerRing, we expand the product portfolio with a charger that can go up to 400 kilowatts per outlet. Our reliable and user-centric chargers proved to be a competitive option for charge point operators, and we believe we can establish growth in this category. Software, services and others generated EUR 6.1 million for the fourth quarter or 21% of the total revenue declined 16% quarter-over-quarter. The largest driver of the decrease was installation and service activities, which were down 19% compared to last quarter. This was compensated by a 6% quarter-over-quarter increase in software compared to the same period last year. Software, which includes the Electromaps Solutions, grew 91%. Looking forward, we expect this category to continue contributing in Italy, especially with a strong growth in software. In our addressable market, which we refinance all regions except China, 2.1 million EVs were sold during the first quarter. While this represents a 23% increase year-over-year, the market slowed down on a sequential basis, declining 2% compared to last quarter. Turning in our key markets, which are North America and Europe, we see conservative trends. In North America, the EV market remained soft due to the removal of incentive and tax credits discussed during the last quarter. Compared to the same period last year, the sales in the region decreased with 27%, but only 3% quarter-over-quarter, potentially indicating we reached a plateau. While we anticipate the North American EV market will remain challenging through the year, we are optimistic about the opportunities presented by our Quasar 2 and, particularly in states like California where vehicle electrification is continuing to grow. Growth persists within the European EV market, this quarter up by 27% compared to the same period last year. However, growth has slowed down sequentially and declined with 9%. The same trend where there is a year-over-year growth, but quarter-over-quarter slowdown was visible in almost every European country, except Ireland, Italy and the U.K., where growth remains strong across the board. The momentum in the region is expected to pick up for the remainder of the year as across the region, many countries continue to incentivize electrification and new affordable EV models are becoming available. The growth in the rest of the world, which includes APAC and LatAm was the strongest of the regions considered in our addressable market. EV sales in the region increased 79% compared to the same period last year. Considering our shifting resources to focus on our path to profitability instead of servicing all our addressable regions in the same way, we did not capture the market growth. However, we keep working with a wide range of distribution partners and key accounts. This will allow us to keep our footprint in the region and ramp up sales efforts in the future. Overall, EV transition continues to progress, but at the same time, volatility remains. The recent geopolitical tension and subsequent price spikes in oil shows again the importance, especially in Europe for energy independence and decreased reliance on fossil fuels. This provides an opportunity for Wallbox as a provider of smart charging products and energy management solutions. The future is electric. But in the meantime, it is important as an organization to remain flexible. We have made progress in creating a more lean organizational structure, which is better suited to respond to market volatility as we move towards profitability. Isabel, over to you. Isabel Trujillo: Thank you, Enric. Good morning and good afternoon to everyone. The first quarter revenue was softer than expected and landed at EUR 29.7 million, outside our guided range and down 12% sequentially. However, relative to our cost base, revenue grew both compared to last quarter and the same period last year. The main reason we missed our guidance was an unexpected slowdown in orders for both DC and AC related to the pending refinancing. We anticipated an impact on sales as we were in the process to finalizing the refinancing agreement and customers require long-term financial clarity. Although we can't provide this clarity now as the agreement recently has been signed, the impact in Q1 was larger than initially expected as DC customers postponed their orders and AC distribution partners decreased the size of their orders. We are confident that we can reverse this trend now and have already received additional DC and AC orders directly after the announcement of the signing. Gross margin for the first quarter was 37.3%. This was lower than anticipated and has a strong correlation with the slower DC sales. As our DC fast charger products have a higher gross margin, lower sales in this category results in a negative impact from the product mix. Shortly, I will comment in more detail on our continuous inventory reduction, but we have a positive impact on bill of materials costs in the long run as we rotate our existing components. Q1 labor costs and operating expenses totaled EUR 17.1 million, reflecting a 31% improvement compared to the same period last year and a 22% sequential improvement. This is a positive result and is a strong proof point that we can continue to improve our operating leverage. Also, in the upcoming quarters, we plan to continue streamlining the organization with additional efficiency measures, strategic capital allocation and introduction of the right processes. If you compare the historical development of our cost base compared to our revenue development, we believe we are on the right path to find the correct equilibrium between sales and cost. On top of that, with the shift of resources and investment in sales and service, we believe the cost base we are working towards allows for additional revenue growth, further enhancing the efficiency of the company. Consolidated adjusted EBITDA loss for the quarter was EUR 6 million, outside the guided range, but still a solid improvement considering the lower-than-expected top line result. Compared to the same period last year, the adjusted EBITDA loss improved 23% and sequentially improved with 18%. Also top line revenue growth is important to reach profitability, the Q1 result reflects the outcome of our plan to shift the focus from only growth to focusing on profitability as our core objective. We have worked hard on the disciplined transformation of the organization to improve operating efficiency. And now our focus can return to reacceleration of growth, but with the same discipline on cost. With the investment in sales and services, I believe we can improve our sales in the upcoming quarters, following our path to profitability. Now moving to key financial items. We have completed one of the most important milestones with the signing of the refinancing plan. The plan is submitted with the court for final approval. Additional large institutions such as HSBC and Citibank have now joined the plan, and we received EUR 11 million in interim financing. It has been great to be able to bring together all the stakeholders and align on a strong capital structure solution to provide financial stability for Wallbox and clarity for the upcoming years. We would like to thank our banking partners and shareholders for their continued support and recognition of the strategies ahead. Turning now to the results of the first quarter. We ended the quarter with approximately EUR 7.6 million in cash, cash equivalents and financial instruments. This is excluding the EUR 11 million of interim financing just mentioned as it was received at the beginning of Q2. Based on the operational improvements discussed, the execution of the refinancing plan and our ongoing actions to manage capital expenditures and working capital, we believe our current cash position is sufficient for our near-term needs. This assessment assumes the timely receipt of additional liquidity in upcoming quarters, including proceeds from the refinancing plan and anticipated carbon credit payments. Loans and borrowings totaled EUR 168 million, reflecting a slight increase of 2% sequentially, consisting of EUR 44 million in long-term debt and EUR 124 million in short-term debt. The increase in the debt position is related to use of working capital lines and accrued interest liabilities related to the refinancing process. Following the implementation of the renewed capital structure, long-term and short-term debt will be reclassified as a majority of the debt maturities will be pushed to 2030. CapEx was light again this quarter and landed at EUR 0.3 million, of which EUR 0.1 million was related to investments in property, plant and equipment. Consistent with the last quarters, we are limiting spending on CapEx and are focused on leveraging our existing assets. A clear example is the effort to simplify our existing product portfolio and further innovate this portfolio to continue to provide the latest technology and comply with the customer requirements in an evolving industry. Compared to the same period last year, CapEx investment decreased 55% Inventory landed at EUR 40.3 million, a reduction of 15% to last quarter and down 37% compared to the same period last year. This is consistently one of the most successful financial metrics and allows us to continue to release cash from inventories supporting the overall operations. In addition, we remain focused on our overall cash management related to working capital to better align ourselves with our suppliers and ensure our supply chain is organized efficiently. Wallbox's financial position has improved following the execution of the refinancing plan. In addition, we have made progress on operational initiatives that have contributed to a reduction in cash burn, including actions to optimize working capital and capital expenditures. Enric, I turn it back to you to provide some closing commentary. Enric Asuncion: Thank you, Isabel. Although the refinancing process impacted top line results in the first quarter of the year, we continue to execute our plan and take steps towards our objective to achieve profitability. Adjusted EBITDA result continues to improve. We have reduced our cash burn significantly, have clarity on our new capital structure and unlock significant operational efficiencies. If we look at the objective we need to complete as part of the plan for our new Wallbox, we achieved, one, the continuous operational efficiency improvements; and two, completed the refinancing plan. Now we need to move from disciplined transformation to reaccelerating growth again. We expect to see the results of our investment in sales and service in the coming quarters. It is crucial to improve Wallbox as a customer-centric organization and better support our commercial partners. If we can execute the third pillar of our plan well, there is significant growth opportunity as the new market continues to develop. With that, I would like to discuss next quarter guidance. For the second quarter of 2026, we have the following expectations: revenue in the EUR 33 million to EUR 36 million range, gross margin between 38% and 40% and negative adjusted EBITDA between EUR 5 million and EUR 3 million. Thank you for your time. Operator: Thank you, everyone. There are no questions in queue. We will be closing the call. This does conclude today's conference call. You may disconnect your phone lines at this time, and have a wonderful day. Thank you for your participation. Before you buy stock in Wallbox, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Wallbox wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. 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As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Wallbox (WBX) Q1 2026 Earnings Transcript was originally published by The Motley Fool

BARCELONA, Spain, May 06, 2026--(BUSINESS WIRE)--Wallbox N.V. (NYSE:WBX), a leading provider of electric vehicle ("EV") charging and energy management solutions worldwide, today announced its financial results for the first quarter ended March 31, 2026 and provided a business update. First Quarter 2026 Highlights and Business Update: Generated revenue of €29.7 million in the quarter. Delivered Gross Margin1 of 37.3%. Adjusted EBITDA1 was €(6.0) million, representing a 23% improvement year-over-year. Continued improvement in operational efficiency resulted in a 31% year-over-year reduction in labor costs and operating expenses. Reduced inventory by 15% compared to the last quarter, driving incremental cash flow. Secured €11 million in interim financing and signed the comprehensive restructuring plan, which enhances the long-term financial visibility. Executive Commentary Enric Asunción, CEO of Wallbox, said, "In the first quarter of 2026, we continued to execute our transformation strategy with discipline, focusing on improving operational efficiency, optimizing our cost structure, and strengthening our financial position. While revenue was impacted by a softer market environment and the one-off effect of the refinancing process, we achieved a significant improvement in adjusted EBITDA, demonstrating the strength of the measures implemented." Mr. Asunción added, "With the signing of the refinancing agreement, which has allowed us to secure additional funding and enhance our long-term financial visibility, we believe we are in a stronger position to return to growth and continue progressing toward profitability, supported by our product portfolio and the strengthening of our commercial and service capabilities." Financial Outlook - Second Quarter 2026 The following reflects the company’s expectations for select key financial metrics for the second quarter of 2026. Expects revenue to be in the range of €33 million to €36 million Expects Gross Margin1 between 38% and 40% Expects a negative Adjusted EBITDA1 between €(5) million and €(3) million Conference Call Information Wallbox NV will host a conference call to discuss the results and provide a business update at 8:00 AM Eastern Time today, May 6, 2026. The live audio webcast and accompanying presentation will be accessible on Wallbox’s Investor Relations website at https://investors.wallbox.com/. A recording of the webcast will also be available following the conference call. Forward Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Wallbox intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release other than statements of historical fact should be considered forward-looking statements, including, without limitation, statements regarding Wallbox’s expected future operating results and financial position, growth, profitability and cost optimization, including the expected impact of Wallbox’s renewed capital structure; industry and company growth, and Wallbox’s business strategy and plans and related reinforcement of Wallbox’s sales and service organization. The words "anticipate," "believe," "can," "continue," "could," "estimate," "expect," "focus," "forecast," "intend," "likely," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: Wallbox’s history of operating losses; risks related to the restructuring plan, including the pending court approval and the potential for delays or Wallbox’s inability to achieve projected operating improvements; the adoption and demand for electric vehicles including the success of alternative fuels, changes to rebates, tax credits and the impact of government incentives or reduction thereof; political and economic uncertainty and macroeconomic factors, such as impacts from tariffs and trade barriers, geopolitical conflicts, consumer spending, inflation and foreign exchange rates; the accuracy of Wallbox’s forecasts and projections including those regarding its market opportunity; competition; risks related to losses or disruptions in Wallbox’s supply or manufacturing partners; Wallbox’s reliance on the third-parties outside of its control; risks related to Wallbox’s technology, intellectual property and infrastructure; executive orders and regulatory changes under the U.S. political administration and uncertainty therefrom, as well as the other important factors discussed under the caption "Risk Factors" in Wallbox’s Annual Report on Form 20-F for the fiscal year ended December 31, 2025, as such factors may be updated from time to time in its other filings with the Securities and Exchange Commission (the "SEC"), accessible on the SEC’s website at www.sec.gov and the Investor Relations section of Wallbox’s website at investors.wallbox.com. Any such forward-looking statements represent management’s estimates as of the date of this press release. Any forward-looking statement that Wallbox makes in this press release speaks only as of the date of such statement. Except as required by law, Wallbox disclaims any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise. Non-IFRS Financial Measures Wallbox reports its financial information required in accordance with the International Financial Reporting Standards ("IFRS"). This release includes financial measures not based on IFRS, including Adjusted EBITDA and Gross Margin (the "Non-IFRS Measures"). See the definitions set forth below for a further explanation of these terms. Wallbox defines "Gross Margin" as revenue less changes in inventory, raw materials and other consumables used, divided by revenue. Wallbox defines EBITDA as loss for the period before income tax credit, financial income, financial expenses, amortization and depreciation, change in fair value of derivative warrants and foreign exchange gains/(losses). Wallbox defines Adjusted EBITDA as EBITDA for the period further adjusted to take into account the impact of certain non-cash and other items that it does not consider in its evaluation of the Company’s ongoing operating performance. These non-cash and other items include, but not are limited to: share based payment plan expenses, certain one-time expenses related to a reduction in workforce initiated in January 2023, certain non-cash expenses related to the ESPP plan launched in January 2023, any negative goodwill arising from business combinations, impairment of assets and other items outside the scope of our ordinary activities. Management uses these Non-IFRS Measures as measurements of operating performance because they assist management in comparing the Company’s operating performance on a consistent basis, as they remove the impact of items not directly resulting from the Company’s core operations; for planning purposes, including the preparation of management’s internal annual operating budget and financial projections; to evaluate the performance and effectiveness of the Company’s strategic initiatives; and to evaluate the Company’s capacity to fund capital expenditures and expand its business. The Non-IFRS Measures may not be comparable to similar measures disclosed by other companies, because not all companies and analysts calculate these measures in the same manner. Wallbox presents the Non-IFRS Measures because management considers them to be important supplemental measures of the Company’s performance, and believes they are frequently used by securities analysts, investors and other interested parties in the evaluation of companies. Management believes that investors’ understanding of the Company’s performance is enhanced by including the Non-IFRS Measures as a reasonable basis for comparing its ongoing results of operations. By providing the Non-IFRS Measures, together with reconciliations to IFRS, management believes it is enhancing investors’ understanding of the Company’s business and its results of operations, as well as assisting investors in evaluating how well the Company is executing its strategic initiatives. Items excluded from the Non-IFRS Measures are significant components in understanding and assessing financial performance. The Non-IFRS Measures have limitations as analytical tools and should not be considered in isolation, or as an alternative to, or a substitute for loss for the period, revenue or other financial statement data presented in the Company’s consolidated financial statements as indicators of financial performance. Some of the limitations are: such measures do not reflect revenue related to fulfillment, which is necessary to the operation of Wallbox’s business; such measures do not reflect the Company’s expenditures, or future requirements for capital expenditures or contractual commitments; such measures do not reflect changes in the Company’s working capital needs; such measures do not reflect the Company’s share based payments, income tax benefit/(expense) or the amounts necessary to pay its taxes; although depreciation and amortization are not included in the calculation of Adjusted EBITDA, the assets being depreciated and amortized will often have to be replaced in the future and such measures do not reflect any costs for such replacements; and other companies may calculate such measures differently than Wallbox does, limiting their usefulness as comparative measures. Due to these limitations, Adjusted EBITDA should not be considered as a measure of discretionary cash available to Wallbox to invest in the growth of its business and are in addition to, not a substitute for or superior to, measures of financial performance prepared in accordance with IFRS. In addition, the Non-IFRS Measures Wallbox uses may differ from the non-IFRS financial measures used by other companies and are not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with IFRS. Furthermore, not all companies or analysts may calculate similarly titled measures in the same manner. The Company compensates for these limitations by relying primarily on its IFRS results and using the Non-IFRS Measures only as supplemental measures. Reconciliations of the forward-looking Non-IFRS Measures to the most directly comparable IFRS measures cannot be provided without unreasonable efforts and are not provided herein because of the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliations and certain other items reflected in our reconciliation of historical Non-IFRS Measures, the amounts of which could be material. About Wallbox Wallbox is a global technology company, dedicated to changing the way the world uses energy. Wallbox creates advanced electric vehicle charging and energy management systems that redefine the relationship between users and the network. Wallbox goes beyond charging electric vehicles to give users the power to control their consumption, save money and live more sustainably. Wallbox offers a complete portfolio of charging and energy management solutions for residential, semi-public, and public use in more than 100 countries around the world. Founded in 2015 in Barcelona, where the company’s headquarters are located, Wallbox currently has offices across Europe, Asia, and America. For more information, visit www.wallbox.com Source: Wallbox N.V. View source version on businesswire.com: https://www.businesswire.com/news/home/20260506621153/en/ Contacts Wallbox Public Relations Contact: Albert Cabanes Public Relations [email protected] Wallbox Investor Contact: Michael Wilhelm Corporate Development & IR [email protected]