Gapwaves AB Class B (SE:GAPW.B)
:GAPW.B
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Gapwaves AB Class B
(GAPW.B)
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Rating:43Neutral
Price Target:
kr11.00
▼(-26.67% Downside)
Action:ReiteratedDate:02/08/26
The score is held back primarily by persistent losses and ongoing cash burn, with technicals also weak as the stock trades below all key moving averages and shows bearish momentum. A relatively low-leverage balance sheet provides some offset, but valuation is difficult to support while earnings remain negative.
Positive Factors
Positioning in 5G millimeter‑wave and automotive radar markets
Specialization in waveguide antenna tech targeted at 5G mmWave and automotive radar aligns the company with structural, multi-year secular demand for high-frequency radio components. This market orientation supports durable addressable-market growth and repeated OEM design cycles if design‑ins progress to production.
Negative Factors
Negative gross profit and persistent operating losses
A negative gross profit means the core product economics are unprofitable today; until unit costs fall or pricing improves, scaling sales will deepen operating losses. This structural profitability shortfall must be resolved for the business to reach self-sustaining margins and predictable free cash generation.
Read all positive and negative factors
Positive Factors
Negative Factors
Positioning in 5G millimeter‑wave and automotive radar markets
Specialization in waveguide antenna tech targeted at 5G mmWave and automotive radar aligns the company with structural, multi-year secular demand for high-frequency radio components. This market orientation supports durable addressable-market growth and repeated OEM design cycles if design‑ins progress to production.
Read all positive factors
Gapwaves AB Class B (GAPW.B) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr432.41M
Dividend YieldN/A
Average Volume (3M)86.36K
Price to Earnings (P/E)―
Beta (1Y)-0.39
Revenue Growth37.04%
EPS Growth-13.42%
CountrySE
Employees45
SectorTechnology
Sector Strength88
IndustryCommunication Equipment
Share Statistics
EPS (TTM)N/A
Shares Outstanding28,719,849
10 Day Avg. Volume81,025
30 Day Avg. Volume86,361
Financial Highlights & Ratios
PEG Ratio-0.67
Price to Book (P/B)3.98
Price to Sales (P/S)5.16
P/FCF Ratio-14.36
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.05
Revenue Forecast (FY)kr114.50M
Gapwaves AB Class B Business Overview & Revenue Model
Company Description
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....
How the Company Makes Money
Gapwaves makes money primarily by selling its waveguide antenna products and associated engineering/design work to customers that integrate these antennas into end-products (e.g., telecom infrastructure equipment and automotive radar systems). Key...
Gapwaves AB Class B Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
62
Positive
Cash Flow
24
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 90.55M | 66.08M | 27.51M | 64.02M | 34.86M |
| Gross Profit | -46.98M | 42.70M | -22.41M | 43.18M | 21.83M |
| EBITDA | -31.34M | -42.42M | -60.73M | -14.19M | -34.87M |
| Net Income | -58.24M | -52.07M | -69.23M | -15.34M | -36.31M |
Balance Sheet | |||||
| Total Assets | 165.79M | 130.99M | 171.58M | 251.51M | 253.59M |
| Cash, Cash Equivalents and Short-Term Investments | 87.15M | 40.75M | 89.33M | 185.43M | 211.16M |
| Total Debt | 13.52M | 0.00 | 0.00 | 0.00 | 1.46M |
| Total Liabilities | 48.52M | 28.42M | 18.27M | 29.63M | 25.51M |
| Stockholders Equity | 117.27M | 102.57M | 153.31M | 221.88M | 228.08M |
Cash Flow | |||||
| Free Cash Flow | -32.53M | -29.89M | -49.10M | -23.89M | -50.73M |
| Operating Cash Flow | -30.56M | -28.06M | -47.52M | -23.39M | -41.61M |
| Investing Cash Flow | -6.93M | -21.28M | -48.57M | -2.11M | -10.21M |
| Financing Cash Flow | 85.13M | 0.00 | 0.00 | -229.00K | 185.12M |
Gapwaves AB Class B Technical Analysis
Positive
15.00
Price Trends
11.37
Positive
13.41
Negative
15.81
Negative
Market Momentum
<0.01
Negative
54.27
Neutral
65.47
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:GAPW.B, the sentiment is Positive. The current price of 15 is above the 20-day moving average (MA) of 11.12, above the 50-day MA of 11.37, and below the 200-day MA of 15.81, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 54.27 is Neutral, neither overbought nor oversold. The STOCH value of 65.47 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:GAPW.B.
Gapwaves AB Class B Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | kr328.01M | -519.64 | ― | ― | 12.10% | ― | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
57 Neutral | kr833.37M | -55.21 | ― | ― | -6.71% | -128.86% | |
49 Neutral | kr242.13M | -8.81 | -5.81% | ― | -8.58% | -159.42% | |
49 Neutral | kr334.09M | -9.00 | 8.68% | ― | -23.66% | -1444.83% | |
43 Neutral | kr432.41M | -8.02 | -52.89% | ― | 37.04% | -13.42% |
* Technology Sector Average
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.