Wallbox N.V., a technology firm, specializes in developing, producing, and supplying electric vehicle (EV) charging systems suitable for residential, commercial, and public ...
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Operator: Hello, everyone, and welcome to Wallbox's First Quarter 2026 Earnings Conference Call and Webcast. [Operator Instructions] I would now like to turn the call over to Michael Wilhelm from Wallbox. Michael, please go ahead. Michael Wilhelm: Thank you, and good morning, and good afternoon to everyone listening in. Thank you for joining today's webcast to discuss Wallbox's first quarter 2026 results. This event is being broadcast over the web and can be accessed from the Investors section of our website at investors.wallbox.com. I am joined today by 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 …
Est. EPS $-2.72 · Revenue $70.12M · 1 analysts
Est. EPS $-2.24 · Revenue $46.21M · 1 analysts
| Metric | Latest | YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength. | QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes. |
|---|---|---|---|
| The total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three). |
| Name | Title | Gender | Year Born | Status |
|---|---|---|---|---|
Eduard Castaneda Mane | Co-founder and Chief Product & Tech Officer | Male | 1987 | Active |
Enric Asuncion Escorsa | Co-Founder, Chief Executive Officer & Executive Director | Male | 1986 |
| Active |
Till Wilmschen | Director of Product - DC Fast Charging | — | — | Active |
Ignasi Alastuey | Chief Business Officer | Male | — | Active |
Juan Sagales | General Counsel | Male | — | Active |
Luis Pereda | Chief Operations Officer | Male | — | Active |
Michael Wilhelm | Corporate Development & IR | Male | — | Active |
Isabel López Trujillo | Chief Financial Officer | Female | — | Active |
Est. EPS $-3.67 · Revenue $162.04M · 1 analysts
Est. EPS $-5.57 · Revenue $102.21M · 1 analysts
EPS €-1.59 · Revenue €23.92M
EPS €-1.08 · Revenue €29.70M
EPS €-6.87 · Revenue €139.39M
EPS €-1.47 · Revenue €35.48M
EPS €-1.08 · Revenue €38.29M
EPS €-1.32 · Revenue €37.64M
| $139.4M |
| -15.0% |
| -19.5% |
| Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day. | $-99.1M | +33.5% | -47.6% |
| Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials. | -20.8% | -163.5% | +1.8% |
| Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on). | -68.7% | +15.9% | -16.8% |
| Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales. | -71.1% | +21.7% | -83.3% |
| Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock. | $-38000 | +100.0% | — |
| FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine. | -0.0% | +99.9% | — |
| Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe. | -624.0% | -272.2% | +100.0% |
| Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking. | 0.57x | -37.2% | — |
| Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground. | $239.5M | -32.2% | -100.0% |
| Metric | Annual (A vs E) | Annual Surprise | Quarter (A vs E) | Quarter Surprise |
|---|---|---|---|---|
| EPS Surprise | -6.87 vs -6.19 | -11.0% | -1.59 vs -1.81 | +12.2% |
| Revenue Surprise | $139.4M vs $174.0M | -19.9% | $23.9M vs $36.1M | -33.7% |
| Date | Executive | Title | Security | Side | Shares | Price |
|---|---|---|---|---|---|---|
| Jun 30, 2026 | Mera Francisco Jose Riberas | director | Class A Ordinary Shares | A | 501,361 | $2.72 |
| Jun 30, 2026 | Aguera Pedro Alonso | director | Class A Ordinary Shares | A | 501,361 | $2.72 |
| Jun 30, 2026 | Escorsa Enric Asuncion | director, officer: Chief Executive Officer | Class A Ordinary Shares | A | 325,885 | $2.72 |
| Jun 30, 2026 | Richer Marc Sabe | director | Class A Ordinary Shares | A | 501,361 | $2.72 |
| Jun 26, 2026 | Mera Francisco Jose Riberas | director | Warrant (Right to buy Class A Ordinary Shares) | A | 250,680 | $2.75 |
