Balance Sheet StrengthGapwaves’ sizable equity base and very low reported leverage provide a durable capital cushion that supports continued R&D and commercialization efforts over the next several months. This balance-sheet flexibility reduces immediate refinancing pressure and gives management optionality to pursue design-ins or scale manufacturing without urgent liquidity stress.

Improving Revenue TractionTop-line acceleration in 2025 signals improving demand and early product adoption for the company’s waveguide and antenna solutions. Sustained revenue growth—even modest—indicates progress through design-in cycles and a higher probability that some programs will advance to repeat or production orders over a 2–6 month horizon, underpinning longer-term scaling prospects.

Tech Positioning In MmWaveGapwaves’ specialization in waveguide and mmWave antenna components aligns with structural industry growth (5G/6G and high‑frequency sensing). A focused technology stack can create defensible differentiation, support partnerships with radio and system vendors, and sustain demand as networks and sensing applications increasingly adopt mmWave architectures.

Bears Say

Persistent Cash BurnConsistently negative operating and free cash flow shows the business currently relies on internal cash consumption to run operations. Persistent burn will likely force external financing or dilution if losses continue, constraining the company’s ability to invest in scale, absorb longer customer cycles, or fund capital requirements for higher-volume manufacturing over the medium term.

Deep Negative MarginsNegative gross profit and very large net losses indicate unit economics are currently unprofitable. Without meaningful margin recovery—via pricing, cost reductions, or significant scale—losses will persist, eroding equity and making it harder to transition to self-funded growth. This structural profitability gap is a core barrier to sustainable operations.

Execution Risk On CommercializationThe business model hinges on converting design wins into volume production and meeting manufacturability/cost targets. Long customer cycles, concentration risk, and the technical challenges of scaling mmWave hardware create durable execution risk; failure to convert a handful of programs would materially slow revenue growth and delay path to positive cash generation.

GW3 FAQ

What was Gapwaves AB Class B’s price range in the past 12 months?

Gapwaves AB Class B lowest stock price was €0.90 and its highest was €2.35 in the past 12 months.

What is Gapwaves AB Class B’s market cap?

Gapwaves AB Class B’s market cap is €35.99M.

When is Gapwaves AB Class B’s upcoming earnings report date?

Gapwaves AB Class B’s upcoming earnings report date is Apr 30, 2026 which is in 69 days.

How were Gapwaves AB Class B’s earnings last quarter?

Gapwaves AB Class B released its earnings results on Feb 06, 2026. The company reported -€0.056 earnings per share for the quarter, missing the consensus estimate of N/A by -€0.056.

Is Gapwaves AB Class B overvalued?

According to Wall Street analysts Gapwaves AB Class B’s price is currently Overvalued. Get more investment ideas with TipRanks Premium

Does Gapwaves AB Class B pay dividends?

Gapwaves AB Class B does not currently pay dividends.

What is Gapwaves AB Class B’s EPS estimate?

Gapwaves AB Class B’s EPS estimate for its next earnings report is not yet available.

How many shares outstanding does Gapwaves AB Class B have?

Gapwaves AB Class B has 28,719,849 shares outstanding.

What happened to Gapwaves AB Class B’s price movement after its last earnings report?

Gapwaves AB Class B reported an EPS of -€0.056 in its last earnings report, missing expectations of N/A. Following the earnings report the stock price went down -8.475%.

Which hedge fund is a major shareholder of Gapwaves AB Class B?

Currently, no hedge funds are holding shares in DE:GW3

What is the TipRanks Smart Score and how is it calculated?

Smart Score combines eight research factors - such as analyst recommendations, hedge fund trends, and technical indicators - to measure a stock’s outlook. These signals are unified into a single score that reflects bullish or bearish momentum. See detailed methodology

Company Description

Gapwaves AB Class B

Gapwaves AB (publ) provides waveguide and antenna products. It offers radar antennas, 5G phased arrays, flat panel antennas, flange adapters, and waveguide filters. The company was incorporated in 2011 and is headquartered in Gothenburg, Sweden.