Wallbox (NYSE: WBX) shares jumped over 10% on March 16, after the company posted stronger-than-expected Q4 revenues significantly topping estimates.
Further, the company expects the strong momentum to continue into FY2022 as witnessed in the strong outlook.
WBX is a worldwide leading electric vehicle (EV) charging and energy management solutions provider, which designs, manufactures, and distributes electric vehicle charging technologies. Notably, its shares gained 40% since its listing on the NYSE in October 2021.
Q4 Numbers
During Q4, Wallbox’s revenues of $31.3 million, jumped a whopping 165% year-over-year. It easily outperformed the $23.77 million average predictions.
In particular, the company sold 44,000 chargers, a 102% year-over-year gain, which acted as a tailwind.
The company is yet to report on profitability. It reported an adjusted earnings before interest, taxes, depreciation and amortization (EBIDTA) loss of $21.8 million during the quarter.
For the full-year 2021, the company generated revenues of $86.5 million, implying an impressive growth of 266% driven by strategic commercial partnerships, expansion into almost 100 markets, and constant innovation.
FY2022 Outlook
Looking ahead, management provided financial guidance for FY2022.
For the full-year, revenues are forecast to grow between 145% and 190% to be in the range of €175 and €205 million.
For the first quarter, revenues are projected to grow between 170% and 190% and be in the range of €26 million to €28 million. Gross margins are expected to be around 37%.
CEO Comments
Wallbox CEO, Enric Asuncion, commented, “Our strategy to deliver holistic energy management solutions that bring innovative hardware and software together, is resonating with customers and driving market share gains globally.”
He further added, “We enter 2022 in a strong competitive position, our portfolio has never been better, and we continue to open up new exciting channels to reach customers wherever they are.”
Wall Street’s Take
The stock has picked up a rating from one analyst in the past three months.
Following the upbeat Q4 revenues, Robert W. Baird analyst Ben Kallo reiterated a Buy rating on the stock with the price target of $22 (65.17% upside potential).
Bloggers Weigh In
STipRanks data shows that financial blogger opinions are 100% Bullish on WBX stock, compared to a sector average of 68%.
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