6-K
Wallbox N.V. (WBX)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OFFOREIGN PRIVATE ISSUER
PURSUANT TO SECTION 13A-16 OR15D-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of May 2022
Commission File Number: 001-40865
Wallbox N.V.
(Translation of registrant’s name into English)
Carrer delFoc, 68
Barcelona, Spain 08038
Tel: +34 930 181 668
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
EXPLANATORY NOTE
On May 11, 2022, Wallbox N.V. (the “Company”) released information regarding its results of operations for the first quarter ended March 31, 2022. A copy of the Company’s press release and presentation materials are furnished hereto as Exhibits 99.1 and 99.2, respectively.
EXHIBIT INDEX
| ExhibitNo. | Description |
|---|---|
| 99.1 | Wallbox N.V. Press Release, dated May 11, 2022 |
| 99.2 | Wallbox N.V. Presentation, dated May 11, 2022 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Wallbox N.V. | ||
|---|---|---|
| Date: May 11, 2022 | By: | /s/ Enric Asunción Escorsa |
| Enric Asunción Escorsa | ||
| Chief Executive Officer |
EX-99.1
Exhibit 99.1

Wallbox Announces Record First Quarter 2022 Financial Results
BARCELONA, SPAIN - May 11, 2022 - Wallbox (NYSE:WBX), a leading provider of electric vehicle (EV) charging and energy management solutions worldwide, today announced its financial results for the first quarter ended March 31, 2022.
First Quarter 2022 Highlights:
| • | Generated record revenues of approximately €28.3 million, an increase of 192% compared to the first<br>quarter of 2021 |
|---|---|
| • | Achieved gross margins of 41.4% |
| --- | --- |
| • | Sold approximately 51,000 chargers, an increase of more than 180% compared to the first quarter of 2021<br> |
| --- | --- |
| • | Introduced Quasar 2, the next generation bi-directional DC charger for<br>home and semi-public use, at CES 2022 |
| --- | --- |
| • | Announced strategic partnerships with Napa Auto Parts, Polaris, City Electric, Best Buy Canada, and expanded our<br>program with UBER to include both the US and Canada |
| --- | --- |
| • | Hired an additional 104 employees, reaching approximately 1,000 Walboxers globally |
| --- | --- |
Executive Commentary
Enric Asuncion, CEO of Wallbox, said, “Despite a complicated geo-political backdrop and continued global supply chain disruptions, Wallbox continues to perform exceptionally well and exceeded expectations in the first quarter of 2022. I’m proud to share our record results which highlight our continued commitment to executing our business plan.
Mr. Asuncion continued, “Our strategy of providing the world with smart, beautiful devices that help us consume energy in a more intelligent way is resonating with our customers and is reflected in our financial results. Revenue growth in the first quarter of 2022 was 192% on a year-over-year basis, and gross margin of 41.4% surpassed even our own forecasts. The full year 2022 appears to be evolving for us as we had expected, and we’re excited to begin delivering new and innovative products to the market.”
Financial Outlook - Second Quarter and Full Year 2022
The following reflects the company’s expectations for select key financial metrics for the second quarter 2022.
| • | Expects second quarter 2022 revenue to be in the range of €35 and €38 million, representing an<br>approximate quarterly year-over-year growth rate between 100% and 115% |
|---|---|
| • | Expects gross margin of approximately 40% |
| --- | --- |
Full year 2022
| • | Continues to expect full-year 2022 revenue in the range of €175 and €205 million, representing an<br>approximate annual year-over-year growth rate of between 145% and 190% |
|---|
Conference Call Information
Wallbox NV will host a conference call to discuss the results and provide a business update at 8:00 AM Eastern Time today, May 11, 2022. The live audio webcast and presentation, along with supplemental information, will be accessible on Wallbox’s Investor Relations website at https://investors.wallbox.com/overview/default.aspx. A recording of the webcast will also be available following the conference call.
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. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding Wallbox’s future financial results and management expectations. 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 electric 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; impacts resulting from the conflict between Russia and Ukraine; 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 Annual Report on Form 20-F for the fiscal year ended December 31, 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.
About Wallbox
Wallbox is a global technology company, dedicated to changing the way the world uses energy. Wallbox creates advanced electric vehicle charging and energy management systems that redefine users’ relationship to the grid. Wallbox goes beyond electric vehicle charging to give users the power to control their consumption, save money, and live more sustainably. Wallbox offers a complete portfolio of charging and energy management solutions for residential, semi-public and public use in more than 100 countries around the world. Founded in 2015 and headquartered in Barcelona, the company now employs approximately 1,000 people in its offices in Europe, Asia, and the Americas. For additional information, please visit www.wallbox.com.
Wallbox Public Relations Contact:
Elyce Behrsin
Public Relations
Press@wallbox.com
+34 622 513 358
Wallbox Investor Contact:
Matt Tractenberg
VP, Investor Relations
Matt.Tractenberg@wallbox.com
+1 404-574-1504
Source: Wallbox NV
EX-99.2

Exhibit 99.2 Wallbox NV NYSE:WBX First Quarter 2O22 Earnings M AY 11 , 2022

Forward-Looking Statements This presentation 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. All statements contained in this Letter to Shareholders that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding manufacturing quantities and capacity, Wallbox’s financials including future generation of revenue, cost savings and funding of Wallbox’s business plan, future technologies at Wallbox’s new facilities, developing of new products and industry related expectations and assumptions. 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 electric 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. 2 Charging at low energy price

Corporate Overview Enric Asuncion, CEO 3

QUARTERLY HIGHLIGHTS – Q1 2022 % “…Wallbox ~ 192 1,000 continues to Employees Q1 YoY Revenue Growth perform exceptionally well + and exceeded +100 51K Countries with Chargers Sold expectations in the Commercial Activity first quarter of 2022.” % 41.4 €157M 1 Cash on hand Gross Margin 4 1. See slide 15 for definitions

POWER GENERATION A Looming GROWING SLOWLY The rate of investment is unlikely to change materially Global Energy 1 HOLISTIC Crisis Solar, EV, and the grid must come together to provide a comprehensive solution A philosophical shift must occur to ENERGY ARCHITECTURE solve the looming crisis 4 MUST ADAPT If the source remains constant, how we distribute and consume 2 must change instead QUASAR 1 & 2 The charger can be the control system of the new home COMPLEXITY energy architecture AND COST 5 Old infrastructure must be updated and redesigned for new home energy architecture 3 5 1Wallbox market research

Building a World Class Team STRATEGIC FUNCTIONS DESTINATION Executing roadmap FOR KEY TALENT of strategic functions within Becoming a public sales, engineering, company has enabled operations and corporate key talent acquisition service LAYING THE FOUNDATION PROCESS Expanding into new markets AND RIGOR and channels Proven playbooks deployed for process improvement 6

A Global Footprint Matters There are compelling commercial and operational benefits of operating on a global scale 100+ COUNTRIES AROUND INVESTING IN A PARTNER ENHANCED BUSINESS EXCITING NEW REDUCES REVENUE THE WORLD ECOYSTEM RESILIENCY PARTNERSHIPS VOLATILITY Localized relationships Symbiotic partner relationships Ability to remain agile and move Wallbox selected as key provider of Provides stability and predictability on a global scale enable strong, a defendable quickly when challenges & home charging solutions by national at the consolidated level advantage opportunities arise and global brands 7

Financial Review Jordi Lainz, CFO 8

FINANCIAL HIGHLIGHTS Financial & Operating Highlights: Q1 2022 OPERATING METRICS INCOME STATEMENT BALANCE SHEET (€ IN MILLIONS) (€ IN MILLIONS) Units sold ~51,000 Revenue €28,263 Cash & Equivalents €157,569 Headcount ~1,000 YoY Growth 192% LT Debt €23,465 Countries +100 1 Gross Margin 41.4% 2022 Est. Mfg. Capacity +1,000,000 I’m very pleased with our record quarterly results. Our revenues, gross margin, number of units sold, geographic footprint and headcount, highlight the scalability of the business model and the strength “ of the EV market – Jordi Lainz 9 1. See slide 15 for definitions “

Closing Thoughts 10

1 Q2 and Full Year 2022 Outlook CONTINUED STRENGTH ACROSS THE BOARD IN EURO, BETWEEN ~ GROWTH BETWEEN Q2 2022 Revenue €35M & €38M 100% & 115% Full-year 2022 Revenue €175M & €205M 145% & 190% 2 @1.208 USD/EUR Midpoint of $230M 11 Forward looking guidance is provided in euro to remove potential impact of currency volatility Rate consistent with that used in September 2021 financial model

Questions & Answers 12

Appendix 13

Reconciliations Unaudited, in € 000s For the Quarter Ended, March 31, 2022 Operating Loss € (19,417) Amortization and depreciation 3,934 Other income (292) EBITDA € (15,774) Employee Stock Option Plan - One-off Expenses 123 1 Adjusted EBITDA €. (15,652) 1.See slide 15 for definitions

Definitions and Disclosures 2O22 1 Adjusted EBITDA is defined as loss for the year before depreciation and amortization, income tax credits, and financial income and interest expense further adjusted to take account of the impact of certain non-cash and other items that we do not consider in our evaluation of ongoing operating performance. These non-cash and other items include, but not are limited to; change in fair value of convertible bonds and derivative warrants, share listing expenses, foreign exchange gains and losses, share based payments expense and other one-off expenses/income related to special operations. Operating loss consists of Wallbox’s revenue and other income less changes in inventories and raw materials and consumables 2 used, employee benefits, other operating expenses and amortization and depreciation. Wallbox’s revenue consists of retail sales of charging solutions for EVs, which includes electronic chargers and other services. 3 Gross Margin is defined as revenue less changes in inventory, raw materials and other consumables used. 4 15 Charging at low energy price DE F I N I T I O N S