Prepared remarks
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1 Wallbox N.V. Third Quarter 2026 Earnings Call Prepared Remarks Michael Wilhelm Investor Relations SLIDE 1: Title Slide Thank you, and good morning, and good afternoon to everyone listening in. Thank you for joining today's webcast to discuss Wallbox’s third quarter 2026 results. This event is being broadcast over the web and can be accessed from the Investor section of our website at investors.wallbox.com. SLIDE 2: Participants I am joined today by Enric Asunción, Wallbox’s CEO, and Isabel López Trujillo, Wallbox’s CFO. Earlier today, we issued our press release announcing results from the third quarter ended September 30th, 2026, which can also be found on our website. SLIDE 3: Legal Disclaimer & Forward Looking Statements Before we begin, I’d like to remind everyone that certain statements made on today’s call are forward- looking, that may be subject to risks and uncertainties relating to future events and/or the future financial performance of the company. Actual results could differ materially from those currently anticipated. The risk factors that may affect results are detailed in the company's most recent public filings with the SEC, including in the Annual Report on Form 20-F for the fiscal year ended December 31, 2025 filed on April 9, 2026. We will be presenting unaudited financial statements in IFRS format that reflect management's best assessment of actual results. Also, please note that we use certain non-IFRS financial measures on this call and reconciliations of these measures are included in the presentation posted on the Investor section of our website. Also, a copy of these prepared remarks can be obtained from the investor relations website, under the Quarterly Results section, so you can more easily follow along with us today.
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2 So with that out of the way, I'll turn it over to Enric. Enric Asunción Chief Executive Officer SLIDE 4: Q3 2026 Highlights Thank you, Michael, and thanks everyone for joining us today. We will start today's call with an overview of our third quarter 2026 results, including the continued build-up of our order backlog, the management of our supply chain, our perspective on the EV market, and discuss our operational progress. Isabel will then offer a closer look at our financial results, key financial metrics, and our financial position. After, I will close the conversation to highlight what we’re focused on for the final quarter of the year. The key message of this quarter is that demand for our products remains solid, our priority remains on converting that demand into revenue, and that we improved our adjusted EBITDA 24% year over year, landing within our guided range. Order intake remained robust in the third quarter compared to the previous quarter, which reflects a solid performance when accounting for typical seasonal softness during this time of the year. Therefore, we continued to build up our backlog, which landed at €16.9 million at the end of September, compared to €12 million at the end of the second quarter. Of this backlog, €14.7 million relates to AC, including €0.65 million of bidirectional charging, and €2.2 million of fast charging. Customer demand remains strong. Total revenue landed at €24.2 million, below our guided range of €29 million to €31 million. Revenue was up 1% compared to the previous quarter and down 32% compared to the same quarter last year. The shortfall versus guidance is mainly a matter of timing, as orders could not be converted into revenue, due to continuing operational challenges in our supply chain. This is why order intake and backlog are growing while revenue is not yet following. If we were able to convert the generated backlog as planned, we expect our revenue would have landed within our guided range. We are working closely with our suppliers and expect to resolve these constraints over the course of the next months. By product, AC sales grew 8% quarter over quarter to €17.0 million, while DC sales declined 65% to €0.6 million, and software, services and others were stable at €6.6 million. From a geographical perspective, North America grew 15% sequentially, while EMEA was broadly flat.