GET DAILY SIGNALSWallbox (WBX) Reports Q3 Revenue of €24.2 Million, Down 32% Year Over Year
Key Takeaways
- Wallbox reported third-quarter 2026 revenue of €24.2 million, down 32% year over year and below its own guidance range of €29 million to €31 million.
- Gross margin came in at 36.5%, below the company's 38% to 40% target range, weighed down by a lower mix of higher-margin DC fast-charging sales.
- Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) was a loss of €5.3 million, landing within guidance and improving 24% year over year.
- The order backlog climbed to €16.9 million, up about 41% from the prior quarter, as supply chain constraints delayed converting orders into revenue.
- Management issued fourth-quarter guidance for revenue of €29 million to €31 million and gross margin between 36% and 38%.
Why This Quarter Matters
Wallbox N.V., the Barcelona-based provider of electric vehicle charging and energy management solutions, continues to navigate strong underlying demand against ongoing operational challenges. The third quarter of 2026 highlighted this dynamic clearly: orders kept building, yet supply chain issues held back shipments and revenue recognition. In my view, this report is worth watching because it shows whether the company can turn its expanding backlog into actual sales while keeping losses in check. The results also reflect a mixed EV market, with Europe still growing but North America softer, so execution and cost control remain the key areas to follow for WBX shares.
The Reported Results
Revenue reached €24.2 million in the third quarter of 2026, down 32% from €35.5 million a year earlier and up just 1% sequentially. The number missed the company’s guided range of €29 million to €31 million, with management pointing mainly to supply chain constraints rather than any drop in demand. I also checked this using Tickeron’s AI Screener to see how the stock compares to others in the industry.
Gross margin landed at 36.5%, down from 38% in the second quarter and below the 38% to 40% target. The decline stemmed from product mix, as DC fast-charging sales, which carry higher margins, made up only about 3% of revenue versus 7% the prior quarter. AC charging contributed roughly €17.0 million, or about 70% of revenue, while software, services, and other offerings added €6.6 million.
Adjusted EBITDA showed a loss of €5.3 million, which fit within guidance and improved 24% year over year and 32% quarter over quarter. Labor costs and operating expenses fell 34% year over year to €15.0 million, reflecting ongoing cost discipline. Net loss narrowed to €17.3 million from €20.9 million a year earlier.
For the fourth quarter, management expects revenue of €29 million to €31 million, gross margin of 36% to 38%, and adjusted EBITDA between a loss of €5.5 million and €3.5 million.
Market Reaction and Sentiment
Shares of WBX came under pressure after the release, as the revenue miss versus guidance outweighed the cost-cutting progress. Management stressed that demand stayed solid, but investors focused on the gap between the growing backlog and actual sales, raising questions about how quickly supply chain issues might ease. The sequential gains in adjusted EBITDA and a smaller net loss provided some comfort, yet the below-guidance revenue and continued reliance on Europe left sentiment measured heading into the fourth quarter.
Forward Outlook and What to Watch
Looking ahead, the main question is whether Wallbox can convert its €16.9 million backlog into recognized revenue. Management noted it is working closely with suppliers and expects constraints to ease over the coming months, though the exact timing remains uncertain. A larger, more stable backlog could also help with supplier planning and more consistent shipments.
Gross margin trends deserve close attention, especially the share of DC fast-charging sales that slipped this quarter. Fourth-quarter guidance for €29 million to €31 million in revenue points to a solid sequential rebound, and hitting that target will hinge on supply chain execution.
Cost control will stay important as well. The 34% year-over-year drop in labor costs and operating expenses demonstrates management’s ability to streamline operations, and further gains here could support the path to profitability even if revenue recovery is gradual. Liquidity and financing, including the €4 million convertible loan from existing shareholders after the quarter, will also be worth monitoring given the focus on working capital.
Using Tickeron Tools for Deeper Analysis
From what I see, tools like Tickeron’s AI Trend Prediction Engine can help put earnings moves like this into broader context by highlighting patterns across similar stocks. I’ve found it useful for spotting how supply chain or margin trends might play out over time when evaluating names in the EV infrastructure space.
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Contributor
Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.
WBX's MACD Histogram just turned positive
The Moving Average Convergence Divergence (MACD) for WBX turned positive on October 09, 2026. Looking at past instances where WBX's MACD turned positive, the stock continued to rise in 41 of 46 cases over the following month. The odds of a continued upward trend are 89%.
Technical Analysis (Indicators)
Bullish Trend Analysis
Following a +4.87% 3-day Advance, the price is estimated to grow further. Considering data from situations where WBX advanced for three days, in 175 of 229 cases, the price rose further within the following month. The odds of a continued upward trend are 76%.
Bearish Trend Analysis
The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In 49 of 50 cases where WBX's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are 90%.
The Momentum Indicator moved below the 0 level on November 03, 2026. You may want to consider selling the stock, shorting the stock, or exploring put options on WBX as a result. In 76 of 79 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 90%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where WBX declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 90%.
WBX broke above its upper Bollinger Band on October 28, 2026. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Aroon Indicator for WBX entered a downward trend on October 12, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Fundamental Analysis (Ratings)
The Tickeron PE Growth Rating for this company is 14 (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Valuation Rating of 21 (best 1 - 100 worst) indicates that the company is slightly undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (0.426) is normal, around the industry mean (2.863). P/E Ratio (-0.226) is within average values for comparable stocks, (11.311). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (2.910). Dividend Yield (0.000) settles around the average of (0.084) among similar stocks. P/S Ratio (2.860) is also within normal values, averaging (9.055).
The Tickeron Price Growth Rating for this company is 73 (best 1 - 100 worst), indicating slightly worse than average price growth. WBX’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron SMR rating for this company is 99 (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Profit vs. Risk Rating rating for this company is 100 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. WBX’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 87, placing this stock worse than average.
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