Gasporox AB (GPX) AI Stock Analysis

• Market Cap: kr66.22M
• Dividend Yield: N/A
• Average Volume (3M): 5.49K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.16
• Revenue Growth: -15.54%
• EPS Growth: -263.54%
• Country: SE
• Employees: 20
• Sector: General
• Sector Strength: N/A
• Industry: Hardware, Equipment & Parts
• EPS (TTM): 0.11
• Shares Outstanding: 9,353,246
• 10 Day Avg. Volume: 3,959
• 30 Day Avg. Volume: 5,488
• PEG Ratio: -0.05
• Price to Book (P/B): 3.52
• Price to Sales (P/S): 2.22
• 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): 0.6
• Revenue Forecast (FY): kr61.40M

• Rating: 45 Neutral
• Price Target: kr7.00 ▼(-5.41% Downside)
• Action: Reiterated Date: 02/18/26
• Date: Action: Reiterated 02/18/26

The score is held down primarily by persistent losses and a notable 2025 (annual) setback including negative operating cash flow. Technicals add a modest headwind with a weaker long-term trend and negative MACD, while valuation is constrained by the loss-making profile (negative P/E) and no indicated dividend support.

Positive Factors

Proprietary non-invasive gas sensing technology

GPX’s core non-invasive gas sensing tech addresses food safety and shelf-life needs, creating a durable product-market fit. B2B customers value integrated, real-time monitoring for quality control, making deployments sticky and supporting long-term service contracts and partnerships.

Multi-year revenue growth (pre-2025)

Sustained revenue expansion through 2024 indicates meaningful market adoption of GPX’s systems and supports scale economics. Consistent top-line growth can underpin recurring service revenue and strengthen customer relationships, providing a foundation for profitable scaling if cost structure is controlled.

Material reduction in financial leverage

Elimination of reported debt in 2025 materially lowers fixed obligations and bankruptcy risk, giving management flexibility to allocate cash to R&D or working capital. A healthier leverage profile improves resilience to revenue volatility and reduces near-term refinancing pressure.

Negative Factors

Persistent unprofitability

Chronic negative EBIT and net losses erode shareholder equity and limit internal funding for growth. Continued unprofitability raises the probability of future fundraising, dilution, or cost cuts, which can impede long-term investments in product development and market expansion.

Weak, inconsistent cash generation

Volatile operating cash flow and repeated negative free cash flow indicate the business is not reliably self-financing. This increases dependence on external capital, raising execution and funding risk over the medium term and limiting ability to invest consistently in commercial scale-up.

2025 operational deterioration raises execution risk

A material year-over-year 2025 decline in gross profit and operating performance suggests structural issues—cost pressure, adverse mix, or execution failures. Such a deterioration can reverse prior gains in adoption and put sustained margin recovery and competitive position at risk.

Gasporox AB Business Overview & Revenue Model

Company Description

Gasporox AB (publ) develops and commercializes products based on laser spectroscopy. It offers GasSpect series of sensors for headspace analysis; LeakSpect series of sensors for detecting leaks of carbon dioxide from packages; MicroLab laboratory instruments for research and development of packages and materials; and GPX1500, a non-intrusive oxygen headspace gas analyzer. The company also provides measurement services for package and process evaluations. Gasporox AB (publ) was founded in 2005 and is based in Lund, Sweden.

How the Company Makes Money

Gasporox AB generates revenue primarily through the sales of its gas sensor products and analytical systems to businesses in the food packaging industry, as well as other sectors requiring gas measurement solutions. The company operates on a B2B model, where it sells its technology to manufacturers and retailers who seek to improve product quality and safety. Key revenue streams include direct product sales, service contracts for maintenance and support of their systems, and partnerships with packaging companies that integrate Gasporox's technology into their products. Additionally, GPX may benefit from research and development contracts or grants related to advancements in gas sensing technology. Strategic collaborations with industry leaders further enhance its market reach and revenue potential.

Gasporox AB Financial Statement Overview

Summary

Multi-year revenue growth is a positive, and leverage improved materially with debt reduced to 0 in the latest period. However, profitability is persistently weak (net income and EBIT negative across years) and 2025 (annual) shows a sharp deterioration with deeply negative gross profit/EBIT and negative operating cash flow, raising execution and funding-risk concerns.

Income Statement

Revenue has grown strongly over the multi-year period (from 2020 to 2024), and 2024 showed continued growth. However, profitability remains weak: net income is negative every year shown, and EBIT is also consistently negative. A key concern is the sharp deterioration in 2025 (annual) where gross profit and EBIT turned deeply negative versus prior years, suggesting either cost pressure, mix issues, or one-offs that materially hurt operating performance.

Balance Sheet

Leverage looks manageable and has improved: total debt fell from 8.7M (2023) to 2.3M (2024) and is reported at 0 in 2025 (annual). Equity remains positive, providing a cushion. That said, equity has declined from 2024 to 2025 (annual), consistent with ongoing losses, and returns on equity are negative where provided—highlighting that the balance sheet strength is being eroded by lack of profitability.

Cash Flow

Cash generation is inconsistent. Operating cash flow was positive in 2023 and 2024, but turned negative again in 2025 (annual), which raises near-term funding risk if losses persist. Free cash flow is negative in multiple years (2021–2024), indicating the business has not been self-funding, and the 2025 free cash flow figure is reported as 0 alongside a -100% growth rate, which signals volatility and/or reporting noise rather than a clear, durable improvement.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	31.57M	34.10M	31.43M	21.45M	15.74M
Gross Profit	-7.98M	33.10M	30.69M	22.45M	16.26M
EBITDA	-1.55M	-347.00K	946.00K	-3.25M	-4.69M
Net Income	-7.71M	-2.68M	-1.25M	-4.56M	-5.39M
Balance Sheet
Total Assets	50.62M	39.97M	43.52M	44.43M	37.37M
Cash, Cash Equivalents and Short-Term Investments	6.65M	6.81M	10.62M	14.56M	14.27M
Total Debt	0.00	2.32M	8.73M	8.43M	0.00
Total Liabilities	30.76M	13.28M	20.33M	19.99M	8.74M
Stockholders Equity	19.86M	26.69M	23.19M	24.44M	28.63M
Cash Flow
Free Cash Flow	0.00	-3.52M	-3.98M	-8.28M	-9.91M
Operating Cash Flow	-4.72M	4.36M	3.34M	-1.19M	-3.39M
Investing Cash Flow	-7.65M	-7.52M	-7.04M	-7.01M	-6.52M
Financing Cash Flow	12.21M	-648.00K	-240.00K	8.50M	-53.00K

Gasporox AB Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 7.40
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:GPX, the sentiment is Neutral. The current price of 7.4 is above the 20-day moving average (MA) of 6.90, above the 50-day MA of 7.08, and above the 200-day MA of 7.35, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 52.24 is Neutral, neither overbought nor oversold. The STOCH value of 85.71 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SE:GPX.

Gasporox AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	55 Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
FING.B	49 Neutral	kr57.19M	-2.20	-37.93%	―	-82.93%	94.83%
RO	47 Neutral	kr60.26M	-2.67	-26.75%	―	-0.73%	-136.62%
ACCON	47 Neutral	kr804.34M	-42.57	-9.00%	―	-1.32%	51.89%
GPX	45 Neutral	kr66.22M	-9.07	―	―	-15.54%	-263.54%
INSP	41 Neutral	kr3.50M	-0.29	-93.13%	―	-0.75%	65.47%