Wallbox (WBX) Q4 2025 earnings summary

Executive summary

• FY 2025 revenue was €145.1 million, down 11% year-over-year, with Q4 revenue at €33.7 million and 144,000 units delivered, including 536 DC fast chargers.

• Achieved significant operational efficiency, with labor and OPEX down 25% year-over-year and cash costs down 25% in Q4.

• Adjusted EBITDA loss improved 51% year-over-year to €(29.5) million for FY and 46% to €(7.3) million in Q4.

• Launched Supernova PowerRing and Quasar 2, expanding the DC fast charging portfolio and U.S. presence.

• Secured €25 million in new investments and reached a commercial agreement for capital restructuring.

Financial highlights

• FY 2025 revenue: €145.1 million (down from €163.9 million in 2024); Q4 revenue: €33.7 million (down 10% year-over-year).

• FY Adjusted EBITDA: €(29.5) million (improved from €(59.9) million in 2024); Q4 Adjusted EBITDA: €(7.3) million.

• FY gross margin: 38.3% (up 410 bps year-over-year); Q4 gross margin: 37.3%.

• Q4 cash and equivalents: €9.6 million; loans and borrowings: €165 million.

• Inventory at year-end: €47.5 million, down 32% year-over-year.

Outlook and guidance

• Q1 2026 guidance: revenue €33–36 million, gross margin 38–40%, Adjusted EBITDA between -€5 million and -€3 million.

• Focus shifting from stabilization to acceleration, leveraging new capital structure and sales/service strategies.