Wallbox (WBX) Q4 2025 earnings summary

Executive summary

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

• Achieved significant operational efficiency, with labor and OpEx down 23–25% YoY and cash costs down 25% in Q4.

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

• Gross margin rose 410 bps YoY to 38.3% for FY; Q4 gross margin was 37.3%.

• Launched Supernova PowerRing and began commercial rollout of Quasar 2, expanding the DC fast charging portfolio.

Financial highlights

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

• FY Adjusted EBITDA: -€29.5 million (improved from -€59.9 million in 2024); Q4 Adjusted EBITDA: -€7.3 million (improved from -€13.4 million in Q4 2024).

• Q4 2025 gross profit: €12.6 million; full year gross profit: €55.5 million.

• Q4 2025 operating loss: €21.1 million; full year operating loss: €99.3 million.

• Cash and cash equivalents at year-end: €4.4 million; loans and borrowings: €164.7–165 million.

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.