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    Ryan Fink

    Research Analyst at B. Riley Financial, Inc.

    Ryan Fink is an Equity Research Analyst at B. Riley Financial, Inc., specializing in coverage of the energy and industrials sectors. He regularly covers companies such as NextEra Energy, Dominion Energy, and Vistra Corp, and is recognized for maintaining a high forecast accuracy with a documented success rate near 60% and positive average portfolio returns tracked by major platforms. Fink began his career as an associate analyst at Jefferies in 2011, joined Oppenheimer in 2015, and has led institutional research at B. Riley since 2019. He holds the Series 7, 63, and 86/87 licenses and is registered with FINRA, underscoring his credentials as a trusted equity research professional.

    Ryan Fink's questions to Wallbox (WBX) leadership

    Ryan Fink's questions to Wallbox (WBX) leadership • Q1 2025

    Question

    Ryan Fink of B. Riley Financial, Inc. inquired about the current competitive landscape and opportunities from competitors' challenges. He also asked for details on the forward-looking product mix and its impact on gross margins and the company's path to positive EBITDA.

    Answer

    CEO Enric Asuncion detailed the competitive landscape, noting Wallbox's U.S. factory provides an edge against tariff-impacted rivals, while its broad European presence is a key advantage over regional players. In DC fast charging, the strategy is to focus on the high-volume 100-350 kW segment. Asuncion stated that DC fast chargers currently yield ~50% gross margins versus 37-40% for AC home and business chargers. He expects a similar product mix in Q2 but is focused on building a DC charger backlog to stabilize growth and improve the margin mix over time.

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    Ryan Fink's questions to Wallbox (WBX) leadership • Q1 2025

    Question

    Asked for an overview of the competitive landscape in the US and Europe, and for details on the future product mix and its impact on gross margins and the path to profitability.

    Answer

    In the US, Wallbox has an advantage due to its domestic factory and competitors shifting focus away from hardware. In Europe, its multi-country strength is a key differentiator. In DC fast charging, the company is focusing on the high-volume 100-350 kW segment. The Q2 product mix is expected to be similar to Q1. DC fast chargers have higher margins (~50%) than home/business chargers (~37-40%). The company is building its DC backlog to create steadier growth and improve the sales mix towards higher-margin products over time.

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