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Wallbox Reports 3Q23 Revenue Of €32.5M

Author: Benzinga Newsdesk | November 09, 2023 08:13am

Third Quarter 2023 Highlights and Business Update:

Generated revenue of €32.5 million.
Delivered gross margins of 35%, a 530 basis point sequential improvement.
Exceeded cost reduction targets in Q3 2023, driving almost €39 million in savings this year.
Activated almost 50,000 AC chargers globally through distribution partners and installers in the third quarter of 2023, an increase of 30% as compared to the prior year period.
Drove 285% unit growth and 350% revenue growth in DC public charging during the period, both on a year-over-year basis.
Announced the acquisition of ABL GmbH (“ABL”), the market share leader in Germany, Europe’s largest EV market. ABL will enhance Wallbox’s competitive position and advance its anticipated path to profitability.
Announced partnership with Kia America to deliver Wallbox’s bidirectional Quasar 2 alongside Kia’s new EV9 SUV in 2024.

Posted In: WBX