Gasporox AB (GPX) AI Stock Analysis

• Market Cap: kr74.64M
• Dividend Yield: N/A
• Average Volume (3M): 5.49K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.24
• 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: 50 Neutral
• Price Target: kr8.50 ▲(14.86% Upside)
• Action: Reiterated Date: 03/19/26
• Date: Action: Reiterated 03/19/26

The score is held back primarily by weak financial performance—ongoing losses and a sharp 2025 (annual) profitability and operating cash flow setback. Technicals are supportive with price above major moving averages and moderate momentum, but valuation is constrained by negative earnings and no dividend support.

Positive Factors

Improved leverage

Material debt reduction to zero by 2025 meaningfully lowers refinancing and interest risk. A lighter leverage profile gives the company more runway to pursue product development, service expansion and integration projects, and reduces near-term liquidity pressure amid continuing losses.

Multi‑year revenue growth

Sustained top-line growth over multiple years shows persistent market demand for its inspection systems. Durable hardware sales plus after‑sales service and integration projects create a basis for recurring revenues that can scale fixed-cost absorption and improve margin potential over the medium term.

Specialized NDT technology

Proprietary laser-based inspection tech targets regulated food and pharma processes where quality controls are mission-critical. This specialization creates technical barriers, higher switching costs and aftermarket service opportunities, supporting durable competitive positioning and pricing power in niche end markets.

Negative Factors

Persistent losses

Chronic unprofitability erodes equity and constrains strategic flexibility. Persistent negative EBIT means the business has yet to demonstrate sustainable margins, forcing reliance on external capital or cost restructuring to reach self-sufficiency and limiting long-term return prospects for shareholders.

Inconsistent cash generation

Volatile and historically negative free cash flow indicates the business is not consistently self-funding. Irregular operating cash undermines ability to invest in R&D, maintain service levels, and absorb shocks without raising external capital, increasing dilution and financing risk over the medium term.

2025 profitability shock

A pronounced operating deterioration in 2025 signals margin vulnerability from cost inflation, adverse mix or one-offs. Such a shock reduces visibility into sustainable profitability, raises questions about unit economics and scalability, and implies management must fix structural issues to restore durable earnings.

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 makes money mainly by selling measurement and inspection systems used in industrial quality assurance and process control. Key revenue streams include (1) product revenue from the sale of hardware systems (e.g., in-line/at-line inspection equipment for package leak detection and related gas-measurement instruments), (2) recurring and ancillary revenue tied to those installations such as service, maintenance, calibration, spare parts, and customer support, and (3) project/application work where systems are adapted or integrated into customer production lines (typically involving engineering, installation, and validation activities). If the company has material revenue from software subscriptions, licensing, or specific named partnerships, that information is null because it is not available from the provided context.

Gasporox AB Financial Statement Overview

Summary

Strong multi-year revenue growth is outweighed by persistent net losses and consistently negative EBIT. The 2025 (annual) deterioration—deeply negative gross profit/EBIT and negative operating cash flow—raises near-term sustainability risk despite improved leverage.

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: Positive
• Last Price: 7.40
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:GPX, the sentiment is Positive. The current price of 7.4 is above the 20-day moving average (MA) of 7.14, above the 50-day MA of 7.05, and above the 200-day MA of 7.30, indicating a bullish trend. The MACD of 0.20 indicates Negative momentum. The RSI at 60.25 is Neutral, neither overbought nor oversold. The STOCH value of 48.74 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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%
GPX	50 Neutral	kr74.64M	-9.07	―	―	-15.54%	-263.54%
FING.B	47 Neutral	kr57.57M	-2.20	-37.93%	―	-82.93%	94.83%
ACCON	47 Neutral	kr699.74M	-42.57	-9.00%	―	-1.32%	51.89%
INSP	46 Neutral	kr8.16M	-0.29	-153.88%	―	-0.75%	65.47%