Wallbox reports Q1 revenue up 23% year-over-year to EUR43.1M

Consensus for Q1 revenue is $30.57M. CEO Enric Asuncion said, “We are very pleased with our optimization efforts in Q1 2024, which significantly improved our gross margin and our cost structure, even after including a full quarter of costs associated with the integration of ABL. Q1 2024 saw growth volatility in select markets, offset by key commercial highlights such as the first deliveries of Supernova units in North America. While consumer caution is pressuring the speed of adoption of EVs in the near-term, we have made consistent progress in the transformative journey in which we continue to set ourselves apart, particularly in the current competitive landscape. Our team remains focused on executing our strategic plan, which includes sales growth with the introduction of new products such as the roll-out of Supernova 180 and Pulsar Pro in North America. We are also committed to continuous optimization which includes cost reduction and gross margin improvements…”