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Wallbox Reports 3Q23 Revenue Of €32.5M

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,
byBenzinga Newsdesk
November 9, 2023
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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.
 
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Cannabinoids-focused biopharmaceutical company Avicanna Inc. (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN) reported on Tuesday year-end 2023 results and audited financial statements. The Canadian company reported CA$16.8 million ($12.3 million) in total revenue, up by 314% year-over-year. Avicanna mostly attributed a surge in revenue to the acquisition of Medical Cannabis by Shoppers from Shoppers Drug Mart and the launch of MyMedi.ca. "2023 was a tremendous year for Avicanna where we solidified our leadership position in the Canadian medical cannabis sector through our proprietary products and the launch of MyMedi.ca," he said. "We have successfully demonstrated the scalability of our revenues and made significant improvements in our fundamentals while advancing all our business pillars."

AVCNF