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:
kr10.50
▼(-30.00% 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
Low leverage / strong equity base
Gapwaves’ low leverage and sizable equity provide a durable financial cushion that supports continued R&D and pilot production investment. This structural strength reduces default risk, gives flexibility for financing or partnerships, and helps absorb near-term operating losses without immediate solvency pressure.
Negative Factors
Persistent negative cash flow
Consistent negative operating and free cash flow reveals the business consumes cash to maintain operations and development. Over a multi-month horizon this burn will deplete resources, force dilutive fundraising or spending cuts, and constrain the company’s ability to scale manufacturing or meet larger customer commitments.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / strong equity base
Gapwaves’ low leverage and sizable equity provide a durable financial cushion that supports continued R&D and pilot production investment. This structural strength reduces default risk, gives flexibility for financing or partnerships, and helps absorb near-term operating losses without immediate solvency pressure.
Read all positive factors
Gapwaves AB Class B (GAPW.B) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr401.89M
Dividend YieldN/A
Average Volume (3M)86.36K
Price to Earnings (P/E)―
Beta (1Y)-0.41
Revenue Growth53.78%
EPS Growth19.38%
CountrySE
Employees45
SectorTechnology
Sector Strength88
IndustryCommunication Equipment
Share Statistics
EPS (TTM)-0.60
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)-0.79
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
Neutral
15.00
Price Trends
11.71
Negative
13.69
Negative
15.84
Negative
Market Momentum
-0.23
Negative
47.27
Neutral
33.66
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:GAPW.B, the sentiment is Neutral. The current price of 15 is above the 20-day moving average (MA) of 11.02, above the 50-day MA of 11.71, and below the 200-day MA of 15.84, indicating a neutral trend. The MACD of -0.23 indicates Negative momentum. The RSI at 47.27 is Neutral, neither overbought nor oversold. The STOCH value of 33.66 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 |
|---|---|---|---|---|---|---|---|
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
60 Neutral | kr350.43M | 32.02 | ― | ― | 10.55% | ― | |
57 Neutral | kr784.35M | -55.21 | ― | ― | -7.91% | -33.91% | |
51 Neutral | kr290.04M | -22.37 | 8.68% | ― | 9.30% | ― | |
47 Neutral | kr262.35M | -18.80 | -5.81% | ― | -9.79% | -144.24% | |
43 Neutral | kr401.89M | -8.02 | -52.89% | ― | 53.78% | 19.38% |
* Technology Sector Average
SE:GAPW.B
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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.