Supply constraints cause Wallbox to miss Q2 revenue, but Q3 guidance points to a 25% sequential rebound
WBX sits 40% above its 52-week low of $2.3 on light trading volume (0.2× avg).
Summary
Wallbox posted Q2 revenue of €23.9M, missing guidance because of supply constraints, but gross margin rose to 38% and costs fell 29% year-over-year. The restructuring is complete, with €21.2M raised, and Q3 revenue is guided 25% higher sequentially at €29–31M.
Key Events · Earnings and Guidance · WBX
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Q2 Revenue Miss on Supply Constraints
Revenue came in at €23.9M, below guidance, as a vendor redefinition capped deliveries despite an 11% sequential rise in order intake. AC charger sales dominated, contributing €15.8M or 66% of the total.
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Gross Margin Improves to 38%
Driven by cost controls and product mix, gross margin expanded 70 basis points sequentially to 38.0%. Operating expenses fell 29% year-over-year to €17.3M.
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Restructuring Completed, €21.2M Raised
The court-approved financial restructuring closed, comprising a €15.8M equity raise and €5.4M in additional bank financing. At quarter-end, cash and equivalents plus financial investments stood at €25.1M.
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Q3 Guidance Implies 25% Sequential Revenue Growth
Management expects Q3 revenue of €29–31M, gross margin of 38–40%, and an Adjusted EBITDA loss of €(6.5)–(4.5)M, reflecting backlog conversion and sustained cost discipline.
Analysis · WBX · Manufacturing
Second-quarter revenue reached €23.9 million, falling short of the company's own forecast because a vendor redefinition restricted deliveries even as orders continued to grow. Gross margin improved to 38%, and operating expenses dropped 29% year-over-year, underscoring disciplined cost management. The financial restructuring has been completed, bringing in €21.2 million of fresh capital and reinforcing a balance sheet that had been under strain. For the third quarter, management expects revenue of €29–31 million—a 25% sequential jump at the midpoint—while gross margin is projected to hold at 38–40%. The numbers depict a business that is stabilizing both operationally and financially, yet the revenue shortfall and a €191 million debt load keep the risk profile elevated.
At the time of this filing, WBX was trading at $3.21 on NYSE in the Manufacturing sector, with a market capitalization of approximately $57.7M. The 52-week trading range was $2.30 to $7.83. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.