The company shared third quarter and
year-to-date 2021 results through a Shareholder Letter and
Webcast
Wallbox N.V. (NYSE: WBX), a leading provider of electric
vehicle (EV) charging and energy management solutions worldwide,
today released a Letter to Shareholders, which can be found here,
announcing select financial results for the three and nine months
ended September 30, 2021. The company reported third quarter
revenue of $22 million, up nearly 250% year-over-year, bringing
total revenue to $55 million for the first nine months of 2021. The
company reaffirms its full year 2021 revenue guidance of $79
million.
“For the first nine months this year, we sold more than 66,000
units globally and 80% of our current charger sales utilize Wallbox
energy management software. We believe this is a testament to our
hardware’s superior design, performance and reliability and the
value our energy management software can add to users’ daily
lives,” said Enric Asunción, the chief executive officer and
co-founder of Wallbox. “Our third quarter revenue also grew by
nearly 250% year-over-year, which was driven by our accelerated
growth in some of the world’s largest EV markets, such as Germany
and the UK, and our successful entry into new markets like the
U.S..”
“In addition to the growing demand and consumer preference for
our products, our ability to manage global supply chain issues
successfully has enabled us to sustain strong momentum,” said Jordi
Lainz, chief financial officer. “Thanks to our vertically
integrated supply chain and in-house engineering and validation, we
have been able to continue production over the last quarter. We
continue to run a disciplined business, outpacing market growth and
minimizing headwinds to generate value for shareholders.”
The company has posted a Shareholder Letter on the Overview and
Events & Presentations pages of its Investor Relations website
at investors.wallbox.com, providing additional financial highlights
and business updates.
Wallbox will also host a live webcast today, Thursday, November
4, 2021 at 8:30 a.m., Eastern Time (1:30 p.m. CET), to discuss
these results and business updates. The live webcast can be
accessed through the Events & Presentation section of the
company’s investor relations website at investors.wallbox.com. A
replay of the webcast will be available shortly following the
event, will be accessible through the same link and will be
available for at least one year.
About Wallbox Chargers
Wallbox is a global technology company, dedicated to changing
the way the world uses energy in the electric vehicle industry.
Wallbox creates smart charging systems that combine innovative
technology with outstanding design and manage the communication
between vehicle, grid, building and charger. Wallbox offers a
complete portfolio of charging and energy management solutions for
residential, semi-public and public use in more than 80 countries.
Founded in 2015, with headquarters in Barcelona, Wallbox’s mission
is to facilitate the adoption of electric vehicles today to make
more sustainable use of energy tomorrow. The company employs over
700 people in Europe, Asia, and the Americas.
For additional information, please visit www.wallbox.com.
Wallbox Forward Looking Statements
This press release includes “forward-looking statements” within
the meaning of Section 27A of the Securities Act and Section 21E of
the Securities Exchange Act of 1934, as amended. Forward-looking
statements generally relate to future events or Wallbox’s future
financial or operating performance. For example, forward-looking
statements include but are not limited to statements regarding the
future operations of the business, future growth and generating
value to shareholders. In some cases, you can identify
forward-looking statements by terminology such as “anticipate,”
“believe,” “may,” “can,” “should,” “could,” “might,” “plan,”
“possible,” “project,” “strive,” “budget,” “forecast,” “expect,”
“intend,” “will,” “estimate,” “predict,” “potential,” “continue” or
the negatives of these terms or variations of them or similar
terminology, but the absence of these words does not mean that
statement is not forward-looking. Such forward-looking statements
are subject to risks, uncertainties, and other factors which could
cause actual results to differ materially from those expressed or
implied by such forward looking statements. In addition, any
statements or information that refer to expectations, beliefs,
plans, projections, objectives, performance or other
characterizations of future events or circumstances, including any
underlying assumptions, are forward-looking.
These forward-looking statements are based on management’s
current expectations and beliefs. These statements are neither
promises nor guarantees, but involve known and unknown risks,
uncertainties and other important factors that may cause Wallbox’s
actual results, performance or achievements to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking statements, including,
but not limited to: Wallbox’s history of operating losses as an
early stage company; the adoption and demand for electronic
vehicles including the success of alternative fuels, changes to
rebates, tax credits and the impact of government incentives;
Wallbox’s ability to successfully manage its growth; the accuracy
of Wallbox’s forecasts and projections including those regarding
its market opportunity; competition; risks related to health
pandemics including those of COVID-19; losses or disruptions in
Wallbox’s supply or manufacturing partners; Wallbox’s reliance on
the third-parties outside of its control; risks related to
Wallbox’s technology, intellectual property and infrastructure; and
other important factors discussed under the caption “Risk Factors”
in Wallbox’s Registration Statement on Form F-1 filed with the SEC
on November 1, 2021, as such factors may be updated from time to
time in its other filings with the SEC, accessible on the SEC’s
website at www.sec.gov and the Investors Relations section of
Wallbox’s website at investors.wallbox.com.
These and other important factors could cause actual results to
differ materially from those indicated by the forward-looking
statements made in this press release. Any forward-looking
statement that Wallbox makes in this press release speaks only as
of the date of such statement. Except as required by law, Wallbox
disclaims any obligation to update or revise, or to publicly
announce any update or revision to, any of the forward-looking
statements, whether as a result of new information, future events
or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20211104005587/en/
Wallbox Press Contact Elyce Behrsin press@wallbox.com
Wallbox Investor Contact Austin Wood
investors@wallbox.com
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