ChargePanel AB (CHARGE) AI Stock Analysis

• Market Cap: kr61.68M
• 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: 47 Neutral
• Price Target: kr1.50 ▼(-12.79% Downside)
• Action: Reiterated Date: 03/17/26
• Date: Action: Reiterated 03/17/26

The score is primarily constrained by weak financial performance: negative gross profit, very large net losses, and ongoing operating cash burn despite strong revenue growth. Technicals are neutral with a weak longer-term trend, and valuation is also pressured by a negative P/E with no dividend support.

Positive Factors

Revenue Growth

Sustained double-digit to high double-digit top-line growth across recent years indicates strong demand and product traction. Over 2–6 months this durable revenue momentum supports scaling opportunities and gives management time to fix unit economics if growth conversion improves.

Debt Eliminated; Equity Positive

Complete elimination of interest-bearing debt materially lowers financial risk and interest burden, improving strategic flexibility. Positive equity and asset cushion in 2025 provide a structural buffer for operations or strategic investments without immediate refinancing pressure.

Free Cash Flow Stabilization in 2025

A move to zero reported free cash flow in 2025 suggests an inflection in capital deployment or seasonality and reduces immediate liquidity drain. If sustained, this improvement can lengthen runway and lower reliance on external financings over the medium term.

Negative Factors

Negative Gross Profit

Negative gross profit implies core unit economics are broken: revenue fails to cover direct product or service costs. That structural deficit prevents scalable margin improvement and means top-line growth alone will not produce sustainable profits without cost or pricing fixes.

Very Large Net Losses

Extreme negative net margins and very large losses erode returns for shareholders and indicate the business is not yet economically viable. Over months this pressures retained earnings and forces either deep restructuring or external capital to sustain operations.

Sustained Operating Cash Burn

Consistent negative operating cash flow is a durable risk: it consumes reserves and increases likelihood of dilution or debt if losses continue. Persistent burn reduces strategic optionality and limits the company's ability to invest in product improvements without new funding.

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

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ChargePanel AB Financial Statement Overview

Summary

Strong revenue growth is outweighed by a weak underlying business model: gross profit is negative in most recent years and losses are very large (2025 net margin ~-101%). The balance sheet is improved (debt reduced to 0 and equity positive), but sustained operating cash burn (2025 operating cash flow -9.24M) keeps financial risk elevated.

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	kr55.44M	24.78	―	―	―	―
COMPDM	48 Neutral	kr36.31M	-2.02	―	―	50.38%	10.68%
CHARGE	47 Neutral	kr61.68M	-5.32	―	―	―	―
MOBA	46 Neutral	kr16.79M	-0.07	―	―	―	―
GREAT	42 Neutral	kr206.61M	-5.44	―	―	-69.94%	-7367.66%