Revenue growth has shifted into a contractionary phase, evidenced by a 21.4% year-over-year decline in 2025Q2, while operating margins remain deeply negative at -49.1%.
| Sales/Revenue | 148M | 163.78M | 164.01M | 144.23M | 143.47M | 71.85M | 19.62M | 7.92M |
| Revenue Growth % | -11.88% | -0.14% | 13.72% | 0.53% | 99.67% | 266.2% | 147.63% | - |
| Cost of Goods Sold | 100.26M | 197.88M | 110.21M | 97.17M | 85.69M | 44.66M | 10.58M | 3.63M |
| COGS % of Revenue | - | 120.82% | 67.2% | 67.38% | 59.72% | 62.15% | 53.93% | 45.77% |
| Gross Profit | 47.74M | -34.1M | 53.8M | 47.05M | 57.78M | 27.2M | 9.04M | 4.3M |
| Gross Margin % | 32.26% | -20.82% | 32.8% | 32.62% | 40.28% | 37.85% | 46.07% | 54.23% |
| Gross Profit Growth % | - | -163.38% | 14.34% | -18.57% | 112.46% | 200.88% | 110.36% | - |
| Operating Expenses | 171.3M | 78.39M | 187.67M | 154.34M | 195.93M | 80.97M | 19.99M | 9.6M |
| OpEx % of Revenue | - | 47.86% | 114.43% | 107.01% | 136.56% | 112.7% | 101.9% | 121.16% |
| Selling, General & Admin | 65.03M | 48.19M | 78.14M | 94.24M | 115.63M | 37.71M | 11.41M | 5.27M |
| SG&A % of Revenue | - | 29.42% | 47.64% | 65.34% | 80.59% | 52.48% | 58.14% | 66.53% |
| Research & Development | 8.32M | 0 | 15.47M | 13.89M | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | 9.43% | 9.63% | - | - | - | - |
| Other Operating Expenses | 4M | 30.2M | 94.06M | 46.21M | 80.3M | 43.27M | 8.58M | 4.33M |
| Operating Income | -123.56M | -112.48M | -133.87M | -107.28M | -138.15M | -53.78M | -10.95M | -5.3M |
| Operating Margin % | -83.48% | -68.68% | -81.62% | -74.38% | -96.29% | -74.84% | -55.83% | -66.93% |
| Operating Income Growth % | - | 15.98% | -24.78% | 22.34% | -156.89% | -390.94% | -106.54% | - |
| EBITDA | -109.99M | -73.9M | -120.42M | -98M | -119.35M | -45.26M | -8.58M | -4.55M |
| EBITDA Margin % | -74.32% | -45.12% | -73.42% | -67.95% | -83.19% | -62.99% | -43.74% | -57.42% |
| EBITDA Growth % | -42.22% | 38.63% | -22.87% | 17.88% | -163.69% | -427.43% | -88.61% | - |
| D&A (Non-Cash Add-back) | 13.56M | 38.58M | 13.45M | 9.28M | 18.8M | 8.52M | 2.37M | 753.52K |
| EBIT | -101.73M | -112.48M | -107.45M | -107.28M | -138.15M | -53.78M | -10.95M | -5.3M |
| Net Interest Income | -21M | -19.62M | -22.72M | -15.83M | -6.44M | -6.94M | -1.11M | -299.22K |
| Interest Income | 207K | 601.53K | 0 | 652.77K | 0 | 0 | 0 | 0 |
| Interest Expense | 20.58M | 20.22M | 21.87M | 16.48M | 6.44M | 6.55M | 1.01M | 299.22K |
| Other Income/Expense | -4.01M | -3.88M | -11.26M | -5.85M | 70.76M | -172.67M | -1.32M | -758.73K |
| Pretax Income | -127.57M | -116.37M | -145.13M | -113.13M | -67.39M | -226.45M | -12.28M | -6.06M |
| Pretax Margin % | -86.19% | -71.05% | -88.49% | -78.44% | -46.97% | -315.15% | -62.57% | -76.51% |
| Income Tax | 934.53K | 98.19K | 6.73M | -705.25K | -4.9M | -1.81M | -907.41K | 0 |
| Effective Tax Rate % | -0.73% | -0.08% | -4.63% | 0.62% | 7.27% | 0.8% | 7.39% | 0% |
| Net Income | -125.67M | -116.46M | -149.04M | -112.43M | -62.49M | -224.63M | -11.37M | -6.06M |
| Net Margin % | -84.91% | -71.11% | -90.87% | -77.95% | -43.56% | -312.63% | -57.95% | -76.51% |
| Net Income Growth % | -25.84% | 21.86% | -32.57% | -79.92% | 72.18% | -1875.73% | -87.55% | - |
| Net Income (Continuing) | -128.5M | -116.46M | -151.85M | -112.43M | -62.49M | -224.63M | -11.37M | -6.06M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 867K | 232K | -2.22M | 22K | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.66 | -8.07 | -0.72 | -0.65 | -0.81 | -1.62 | -0.07 | -0.04 |
| EPS Growth % | -1.44% | -1020.83% | -10.77% | 19.75% | 50% | -2188.14% | -90.32% | - |
| EPS (Basic) | - | -8.07 | -0.72 | -0.65 | -0.81 | -1.62 | -0.07 | -0.04 |
| Diluted Shares Outstanding | 189.34M | 14.44M | 189.34M | 187.68M | 163.37M | 138.16M | 160.99M | 160.99M |
| Basic Shares Outstanding | 189.34M | 14.44M | 189.34M | 187.68M | 163.37M | 138.16M | 160.99M | 160.99M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - |
Liquidity and operational scale
According to recent quarterly filings, Wallbox's revenue growth has shifted into a decelerating trend, with the most recent period showing a 21.4% contraction compared to prior cycles, suggesting that the company is struggling to maintain momentum in its core residential hardware markets amidst broader sector cooling.
The transition from double-digit growth in early 2024 to recent contractions indicates that the company's hardware-centric model is highly sensitive to regional EV adoption rates. Investors should monitor whether this decline reflects temporary market saturation or a more permanent loss of competitive positioning against lower-cost alternatives.
As reported in financial statements, Wallbox has experienced significant fluctuations in gross margins, which peaked at 39.6% in early 2024 before retreating, highlighting the inherent difficulty in achieving consistent manufacturing profitability while navigating competitive pricing pressures and high fixed costs within the global EVSE supply chain.
The inability to sustain gross margins above the 40% threshold suggests that the company lacks the pricing power necessary to offset its manufacturing overhead. This margin instability implies that the current business model remains vulnerable to input cost volatility and potential inventory obsolescence charges.
Based on the provided income statement data, Wallbox continues to exhibit negative operating leverage, as operating losses have remained persistently deep despite fluctuations in gross profit, indicating that SG&A expenses are not scaling efficiently relative to the company's current revenue throughput and manufacturing footprint.
The persistent operating losses, often exceeding 50% of revenue, suggest that the company's cost structure is heavily burdened by fixed operational expenses. Without a significant increase in volume or a reduction in overhead, the path to operating break-even appears increasingly difficult to navigate in the near term.
Data from recent periods indicates that Wallbox's reliance on hardware sales, coupled with a lack of consistent profitability, presents a significant risk, as the company's operating losses continue to outpace its ability to generate gross profit, potentially necessitating further dilutive capital raises to sustain ongoing operations.
Short-sellers would likely focus on the disconnect between the company's ambitious growth narrative and the reality of its negative operating margins. The lack of a clear inflection point toward profitability suggests that the current business model may be fundamentally misaligned with the realities of the hardware manufacturing sector.
Quick answers to the most common questions about buying WBX stock.
For fiscal year 2025, Wallbox N.V. (WBX) reported total revenue of $163.8M. This represents a 1967.0% increase compared to $7.9M in 2019.
Wallbox N.V. (WBX) reported a net loss of $116.5M for the fiscal year ending 2025.
Wallbox N.V. (WBX) reported an operating income of $-112.5M, resulting in an operating profit margin of -68.7%. This margin reflects the operational efficiency of the business before interest and taxes.
Wallbox N.V. (WBX) generated $-34.1M in gross profit for the year, representing a gross profit margin of -20.8%. This demonstrates the company's core pricing power and production efficiency.