ChargePanel AB (CHARGE) AI Stock Analysis

• Market Cap: kr65.05M
• Dividend Yield: N/A
• Average Volume (3M): 27.23K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.32
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: SE
• Employees: 10
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Application
• EPS (TTM): -0.07
• Shares Outstanding: 42,105,484
• 10 Day Avg. Volume: 26,347
• 30 Day Avg. Volume: 27,234
• PEG Ratio: 0.17
• Price to Book (P/B): 7.54
• Price to Sales (P/S): 5.39
• P/FCF Ratio: 0.00
• 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): -0.03
• Revenue Forecast (FY): kr30.00M

• Rating: 45 Neutral
• Price Target: kr1.50 ▼(-12.79% Downside)
• Action: Reiterated Date: 03/04/26
• Date: Action: Reiterated 03/04/26

The score is primarily held back by weak financial quality—negative gross profit, heavy ongoing losses, and continued operating cash burn—despite strong revenue growth. Technicals also lean soft with the stock below major moving averages, while valuation is constrained by a negative P/E and no dividend support.

Positive Factors

Revenue Growth

Sustained double‑digit and multi‑year revenue growth indicates product adoption and expanding market traction. Over a 2–6 month horizon this trend supports scale opportunities for software margins and provides a clearer pathway to leverage fixed costs if unit economics are improved.

Leverage Reduction

Eliminating debt materially lowers bankruptcy and interest risk, improving financial flexibility. With no reported debt, the company has greater runway to invest in product development or weather volatility without mandatory debt servicing constraints, a durable improvement to solvency.

Equity Recovery / Solvency

Return to positive equity after prior negative levels improves solvency metrics and access to capital markets. A healthier equity base reduces covenant/default risk, strengthens stakeholder confidence, and makes equity financing or strategic investments more feasible over the medium term.

Negative Factors

Negative Gross Profit

Negative gross profit means core unit economics are broken: revenue does not cover direct costs. Without structural changes to pricing, product mix, or delivery costs, scaling revenue will magnify losses and prevent durable margin improvement needed for sustained profitability.

Persistent Operating Cash Burn

Consistent negative operating cash flow signals ongoing funding needs and reliance on external capital. Over several quarters this creates dilution or refinancing risk and constrains strategic options, making the company's growth vulnerable if capital markets tighten or fundraising costs rise.

Deep Losses / Weak Returns

Very large negative margins and deeply negative ROE reflect value destruction on invested capital. Even with revenue expansion, persistent heavy losses erode equity and limit management’s ability to reinvest sustainably, requiring fundamental shifts to restore long‑term profitability.

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 is offset by a weak and still unproven cost structure: gross profit is negative in most recent years and losses remain very large (2025 net margin ~-101%). The balance sheet has improved meaningfully with debt reduced to zero and equity back to positive, but persistent negative operating cash flow (2025: -9.24M) indicates ongoing cash burn and funding risk.

Income Statement

Revenue has grown meaningfully over time (2025: +44.9% YoY; 2023: +90.6% YoY), but the business remains deeply unprofitable. Gross profit is negative in most years (notably 2022–2025), indicating the core cost structure is not yet working at scale. Net losses are persistent and large relative to revenue (2025 net margin ~-101%; 2024 ~-94%), with EBIT/EBITDA also materially negative, suggesting limited near-term operating leverage despite top-line growth.

Balance Sheet

Leverage improved: total debt fell from 6.0M (2023–2024) to 0 (2025), which meaningfully reduces financial risk. Equity is positive in 2024–2025 (2025 equity 7.47M; assets 18.47M), but profitability is still weak, with very negative returns on equity in recent years (2025 ROE ~-142%; 2024 ~-211%). The balance sheet shows recovery from 2023’s negative equity, but ongoing losses remain a key risk to durability.

Cash Flow

Cash generation is a major weakness: operating cash flow is negative across 2021–2025, including -9.24M in 2025 and -12.76M in 2024, indicating continued cash burn to fund operations. Free cash flow was negative in 2021–2024 (including -15.09M in 2024); 2025 shows free cash flow at 0, but operating cash flow remains negative, so the underlying funding need appears unresolved. Earlier (2020) cash flow was positive, but the more recent trend reflects sustained outflows.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	10.44M	12.61M	8.76M	4.59M	4.07M
Gross Profit	-9.71M	-2.46M	-8.55M	-9.52M	-2.08M
EBITDA	-9.68M	-10.65M	-14.96M	-15.27M	-4.02M
Net Income	-10.59M	-11.90M	-15.45M	-15.30M	-4.06M
Balance Sheet
Total Assets	18.47M	14.46M	6.48M	14.36M	29.74M
Cash, Cash Equivalents and Short-Term Investments	3.60M	6.25M	1.40M	10.03M	25.18M
Total Debt	0.00	6.00M	6.00M	0.00	0.00
Total Liabilities	11.00M	8.82M	10.42M	2.53M	2.86M
Stockholders Equity	7.47M	5.64M	-3.94M	11.83M	26.88M
Cash Flow
Free Cash Flow	0.00	-15.09M	-8.30M	-15.40M	-5.91M
Operating Cash Flow	-9.24M	-12.76M	-8.30M	-15.40M	-5.91M
Investing Cash Flow	-2.51M	-3.88M	0.00	0.00	300.00K
Financing Cash Flow	9.10M	21.48M	-320.00K	250.00K	30.37M

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	kr58.38M	24.78	―	―	―	―
COMPDM	48 Neutral	kr34.07M	-2.02	―	―	50.38%	10.68%
MOBA	46 Neutral	kr14.97M	-0.07	―	―	―	―
CHARGE	45 Neutral	kr65.05M	-5.32	―	―	―	―
GREAT	44 Neutral	kr185.95M	-5.44	―	―	-69.94%	-7367.66%