ChargePanel AB (CHARGE) AI Stock Analysis

• Market Cap: kr64.84M
• Dividend Yield: N/A
• Average Volume (3M): 27.23K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.34
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: SE
• Employees: 10
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Application
• EPS (TTM): -0.06
• Shares Outstanding: 42,105,484
• 10 Day Avg. Volume: 26,347
• 30 Day Avg. Volume: 27,234
• PEG Ratio: 0.07
• Price to Book (P/B): 8.08
• Price to Sales (P/S): 3.62
• P/FCF Ratio: -3.02
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 47 Neutral
• Price Target: kr1.50 ▼(-12.79% Downside)

The score is held down primarily by weak financial performance—negative gross profit, ongoing losses, and worsening cash burn with meaningful leverage—despite strong top-line growth and an improved equity position. Technicals are only modestly supportive (short-term strength but weaker long-term trend), and valuation remains unattractive/indeterminate due to negative earnings and no dividend.

Positive Factors

Revenue Growth

Sustained, strong revenue growth indicates growing customer adoption and market traction. Over a 2–6 month horizon this supports scalable unit economics potential, better negotiating leverage with partners, and a clearer path to amortize fixed costs if margins continue to improve.

Balance Sheet Recovery

Return to positive equity materially reduces near-term solvency concerns versus the prior year and improves access to financing. This structural repair enhances financial flexibility and lowers distress risk over coming months, even if leverage remains meaningful.

Improving Margins Trend

A trend of improving margins signals operational progress in cost control or pricing, implying the company may be on a path to profitability as revenue scales. If sustained, this reduces the need for external funding and strengthens long-term viability.

Negative Factors

Negative Gross Profit

Negative gross profit indicates the core business does not cover direct costs, a structural problem for unit economics. Without durable changes to pricing, cost of delivery, or product mix, the company cannot reach sustainable profitability even with revenue growth.

Persistent Cash Burn

Worsening negative operating and free cash flow creates ongoing funding and refinancing risk. Over a multi-month horizon, persistent cash burn can force dilutive capital raises or cost-cutting that impair growth, limiting ability to invest in product and sales expansion.

Elevated Leverage

Debt marginally above equity raises financial risk given ongoing losses and cash burn. Interest and covenant pressures reduce flexibility, increase refinancing risk, and could constrain strategic choices if profitability is not achieved within the next several quarters.

ChargePanel AB Business Overview & Revenue Model

Company Description

ChargePanel AB (publ) provides a SaaS platform for the operation, management, and usage of electric vehicle charging stations. It offers e-mobility solutions, which include cloud, connect, and enterprise solutions. The company also provides driver applications and EV fleet management. It offers various solutions for charge point owners, resellers, and organizations. The company was founded in 2009 and is based in Stockholm, Sweden.

How the Company Makes Money

ChargePanel AB Financial Statement Overview

Summary

Strong revenue growth, but fundamentals remain weak: gross profit is negative, operating and net losses are sizable, and cash flow is deteriorating with ongoing cash burn. The balance sheet improved with positive equity in 2024, but leverage is meaningful (debt slightly above equity), keeping financial risk elevated.

Income Statement

Revenue has scaled rapidly in the latest annual period (2024 up strongly vs. 2023), but profitability remains very weak. Gross profit is negative in 2024 (and was deeply negative in 2022–2023), indicating the core economics are not yet working at the product/service delivery level. Operating losses and net losses are still sizable despite improving margins versus prior years, so the business is growing but not yet close to break-even.

Balance Sheet

The balance sheet improved meaningfully in 2024 with positive equity (recovering from negative equity in 2023) and higher assets, which reduces near-term solvency concerns versus last year. However, leverage is now material: debt is 6.0M and debt sits slightly above equity (debt-to-equity just over 1x), while returns on equity are sharply negative due to ongoing losses. Overall, financial position is improved but still carries elevated risk given leverage plus losses.

Cash Flow

Cash generation is weak with operating cash flow negative across most years and worsening in 2024 versus 2023, and free cash flow is also more negative in 2024. While free cash flow tracks net losses (cash burn broadly consistent with reported losses), the company is still consuming significant cash to operate and invest, which increases funding/refinancing risk if profitability does not improve.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	7.21M	12.61M	8.76M	4.59M	4.07M	3.50M
Gross Profit	-3.44M	-2.46M	-8.55M	-9.52M	-2.08M	2.78M
EBITDA	-7.67M	-10.65M	-14.96M	-15.27M	-4.02M	-47.00K
Net Income	-8.31M	-11.90M	-15.45M	-15.30M	-4.06M	-95.00K
Balance Sheet
Total Assets	12.61M	14.46M	6.48M	14.36M	29.74M	2.59M
Cash, Cash Equivalents and Short-Term Investments	1.49M	6.25M	1.40M	10.03M	25.18M	429.00K
Total Debt	0.00	6.00M	6.00M	0.00	0.00	0.00
Total Liabilities	8.62M	8.82M	10.42M	2.53M	2.86M	2.01M
Stockholders Equity	3.99M	5.64M	-3.94M	11.83M	26.88M	577.00K
Cash Flow
Free Cash Flow	-6.77M	-15.09M	-8.30M	-15.40M	-5.91M	327.00K
Operating Cash Flow	-7.62M	-12.76M	-8.30M	-15.40M	-5.91M	613.00K
Investing Cash Flow	-3.42M	-3.88M	0.00	0.00	300.00K	-286.00K
Financing Cash Flow	8.90M	21.48M	-320.00K	250.00K	30.37M	0.00

ChargePanel AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
FLOWS	52 Neutral	kr57.40M	48.19	―	―	―	―
COMPDM	52 Neutral	kr31.84M	-2.44	―	―	50.38%	10.68%
CHARGE	47 Neutral	kr64.84M	-2.99	―	―	―	―
GREAT	45 Neutral	kr294.89M	-4.82	―	―	-69.94%	-7367.66%