Wallbox N.V.(WBX) - 2025 Q4 - Earnings Call Transcript

Financial Data and Key Metrics Changes - Revenue for 2025 totaled EUR 145.1 million, reflecting an 11% decrease compared to the previous year, with approximately 144,000 units delivered, including 536 DC units [6][7] - Adjusted EBITDA improved by 51%, landing at a loss of EUR 29.5 million, which is more than double the improvement seen in 2024, indicating effective cost optimization efforts [7] - Gross margin improved to 38.3%, reflecting a 410 basis point increase compared to the previous year [7] Business Line Data and Key Metrics Changes - AC sales improved by 3% compared to the previous quarter but decreased by 15% year-over-year, while DC sales declined by 41% quarter-over-quarter but increased by 29% year-over-year [12][21] - The software services and others category grew by 18% compared to 2024, indicating a strong performance in this segment [5] Market Data and Key Metrics Changes - The North American market showed a 16% year-over-year growth despite a flat EV market, while the European EV market grew by 40% compared to the same period last year [5][26] - The U.S. EV market experienced a 40% year-over-year decline due to the removal of incentives and tax credits, impacting overall sales [16][17] Company Strategy and Development Direction - The company focused on operational excellence and efficient innovation, introducing new products like the Supernova PowerRing and Quasar 2, while optimizing capital and improving financial stability [4][5] - A new sales strategy was implemented to recover lost customers and acquire new ones, emphasizing a shift from a product-oriented to a customer-oriented approach [30][31] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges faced in 2025 due to market volatility but expressed confidence in the company's improved operational efficiency and gross margin, positioning it for future growth [46] - The company expects to finalize its refinancing soon, which is anticipated to serve as a catalyst for growth and strengthen its commercial standing [9][39] Other Important Information - The company secured EUR 25 billion in new investments and reached a commercial agreement with banking partners for a new capital structure [5] - Inventory was reduced by 32% compared to the previous year, reflecting effective working capital management [44] Q&A Session Summary Question: What are the expectations for revenue in Q1 2036? - The company expects revenue to be in the range of EUR 33 million to EUR 36 million, with a gross margin between 38% and 40% and a negative Adjusted EBITDA between EUR -5 million and EUR -3 million [47]