Wallbox reported third‑quarter 2025 revenue of €35.5 million, a 7% decline from the €38.3 million earned in Q2 2025 but a 2.3% increase from the €34.7 million recorded in Q3 2024. The sequential drop reflects a softer demand environment in the European market, while the year‑over‑year gain is driven by a 30% rise in DC fast‑charging revenue and modest growth in software and services. The company’s net loss widened to €107.9 million, although the figure could not be independently verified from the available sources.
Wallbox’s adjusted EBITDA improved to a loss of €(6.9) million, an 8% quarter‑over‑quarter gain and a 33% year‑over‑year improvement over the €(7.5) million loss reported in Q2 2025. The improvement is largely attributable to disciplined cost control, inventory reductions, and a higher mix of higher‑margin DC fast‑charging units.
Gross margin expanded to 39.8% in Q3 2025 from 37.8% in Q2 2025, a 200‑basis‑point sequential lift. The margin gain reflects pricing power in the fast‑charging segment and lower component costs, offsetting the impact of higher logistics expenses in the AC charging line.
Segment analysis shows DC fast‑charging revenue grew 30% YoY, driven by increased adoption in commercial fleets and public charging networks. AC charging revenue remained flat, while software and services revenue grew modestly, indicating a gradual shift toward higher‑margin recurring revenue streams.
CEO Enric Asunción noted that revenue was “softer than expected” but highlighted the company’s focus on reigniting growth. He emphasized strengthening the sales organization, adding new talent, and improving customer support to accelerate market penetration, especially in the U.S. and European public‑charging markets.
For Q4 2025, Wallbox guided revenue of €36 million to €39 million and adjusted EBITDA of €(6) million to €(4) million. The guidance signals a cautious outlook amid ongoing EV market volatility, but also confidence that cost‑control measures will continue to improve profitability margins.
The company’s standstill agreement with its banking pool, effective through the end of 2026, provides a stable framework for liquidity and limits the need for additional debt. The agreement is a key element of Wallbox’s short‑term financial strategy, ensuring continued operational flexibility while the company works toward breakeven.
Overall, Wallbox’s Q3 results demonstrate a mixed picture: sequential revenue decline and widening net loss highlight market softness, but margin expansion, improved EBITDA, and a disciplined cost strategy point to a gradual path toward profitability. The company’s focus on sales expansion and the standstill agreement suggest it is positioning itself to navigate near‑term headwinds while building a foundation for long‑term growth.
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