Wallbox (WBX) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue was €29.7 million, down 12% sequentially and impacted by delayed DC sales and refinancing uncertainty.

• Adjusted EBITDA loss improved to €6.0 million, a 23% year-over-year and 18% sequential improvement, reflecting operational efficiencies.

• Labor and operating expenses decreased by 31% year-over-year, supporting the shift from growth to profitability.

• Inventory reduced by 15% sequentially and 37% year-over-year, supporting incremental cash flow.

• 30,000 AC units and 79 DC units sold in the quarter.

Financial highlights

• Gross margin was 37.3%, in line with last quarter but below the 38%-40% guided range due to lower DC sales.

• Q1 2026 revenue was €29.7 million, down from €33.7 million in Q4 2025 and €37.6 million in Q1 2025.

• Gross profit for Q1 2026 was €11.1 million.

• Cash and cash equivalents at March 31, 2026, stood at €7.6 million, excluding €11 million interim financing received in Q2.

• Loans and borrowings totaled €168.2 million as of March 31, 2026.

Outlook and guidance

• Q2 2026 revenue expected between €33 million and €36 million.

• Gross margin guidance for Q2 is 38%-40%; adjusted EBITDA loss expected between €5 million and €3 million.

• Anticipates improved sales as refinancing clarity restores customer confidence and sales/service investments ramp up.