Wallbox Reports 3Q23 Revenue Of €32.5M
Portfolio Pulse from Benzinga Newsdesk
Wallbox reported 3Q23 revenue of €32.5 million, a 35% gross margin, and €39 million in cost savings. The company activated nearly 50,000 AC chargers globally, marking a 30% YoY increase. Wallbox also announced the acquisition of ABL GmbH, a market leader in Germany, and a partnership with Kia America to deliver Wallbox's Quasar 2 alongside Kia's new EV9 SUV in 2024.
November 09, 2023 | 12:13 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Wallbox's 3Q23 results show strong financial performance and strategic growth through the acquisition of ABL GmbH and partnership with Kia America. These developments could positively impact the company's stock in the short term.
Wallbox's strong 3Q23 results, cost savings, and growth in AC charger activations demonstrate solid financial performance. The acquisition of ABL GmbH and partnership with Kia America represent strategic growth opportunities, which could boost investor confidence and positively impact the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100