Maven Wireless Sweden AB (MAVEN) AI Stock Analysis

• Market Cap: kr213.18M
• Dividend Yield: N/A
• Average Volume (3M): 16.44K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.36
• Revenue Growth: -9.79%
• EPS Growth: -144.24%
• Country: SE
• Employees: 51
• Sector: Technology
• Sector Strength: 88
• Industry: Communication Equipment
• EPS (TTM): -0.20
• Shares Outstanding: 52,506,810
• 10 Day Avg. Volume: 22,997
• 30 Day Avg. Volume: 16,441
• PEG Ratio: <0.01
• Price to Book (P/B): 2.40
• Price to Sales (P/S): 1.52
• P/FCF Ratio: 72.79
• 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): -0.08
• Revenue Forecast (FY): kr198.00M

• Rating: 44 Neutral
• Price Target: kr4.00 ▼(-27.27% Downside)
• Action: Reiterated Date: 02/08/26
• Date: Action: Reiterated 02/08/26

The score is held down primarily by materially weaker profitability and revenue decline, alongside a clear bearish price trend (price below all key moving averages with negative MACD). A comparatively solid balance sheet and improved (positive) 2025 cash flow provide some support but are not yet strong enough to offset earnings volatility and the current downtrend.

Positive Factors

Niche product focus

Maven's specialization in in-building and tunnel DAS and small-cell solutions creates durable product-market fit in challenging coverage environments. This focus builds technical know‑how, reference installs and long sales cycles that support repeat project and service revenue over years.

Relatively strong balance sheet

A solid equity base and modest leverage provide long-term financial flexibility to fund project working capital, R&D and bid on larger contracts. This capital structure helps absorb cyclical revenue swings and supports strategic investments without immediate refinancing pressure.

Positive operating and free cash flow (2025)

The return to positive operating and free cash flow indicates the business can generate internal funding for operations and modest growth. Sustainable cash generation, if maintained, reduces reliance on external financing and supports spares, service and expansion opportunities.

Negative Factors

Declining revenue and profitability

A material drop in revenue and a swing to net losses reflect weakening demand or execution issues. Persistent revenue contraction erodes margins, limits reinvestment ability, and raises the risk that the firm cannot restore consistent profitability without structural changes.

Volatile cash flow history

Large swings in free cash flow undermine planning and make funding capital needs or contract-backed project cycles harder. Volatility increases the chance the company must use debt or equity in down cycles, raising execution risk for multi‑year projects and service commitments.

Severe earnings instability

Extremely negative EPS growth and falling revenue point to unstable earnings generation and operational inconsistency. Such swings damage return on equity and make it difficult to demonstrate a reliable profit trajectory to customers, partners and lenders over the medium term.

Maven Wireless Sweden AB Business Overview & Revenue Model

Company Description

Maven Wireless Sweden AB (Publ) provides various wireless solutions for indoor and tunnel coverage. Its products include Orion head end unit, a compact 3HU rack mounted design that can be fitted with up to 8 RF band modules; Helix digital head end unit, a digital rack-mounted unit that provides eCPRI-links supporting open fronthaul standards from the O-RAN Alliance; Stratus high power digital DAS remotes, which deliver up to +43 dBm RF output power per band in the bands supporting multi-operator and multi-standard operation from 380 to 3800 MHz; Cumulus 6-band medium power digital DAS remotes that deliver +30 dBm RF output power per band in the bands supporting multi-operator and multi-standard from 700 to 2600 MHz; and Nimbus low power digital DAS remotes, which are connected via CAT6a and alternatively via SFP28 to the Helix unit. The company's products also include Cirrus digital off air master that picks up signals from the macro network, which are converted into digital CPRI feeding; TOR–digital intrain onboard repeater with built-in modem that embeds up to four cellular bands plus the GSM-R band in the same compact enclosure for train coverage; Exo digital off air high power repeater with built-in modem that embeds up to two bands in the same fanless enclosure; Strato digital off air medium power repeater with built-in modem that embeds up to three bands in the same fanless enclosure; Tropo digital off air low power off air repeater with built-in modem that embeds two cellular repeater bands in the same fanless enclosure; and Maven Network Management System with open web API for integration with 3rd party OSS/NOC. Its products are used in tunnels, trains, subways, arenas, metros, stadiums, buildings, and others. Maven Wireless Sweden AB (Publ) was incorporated in 2016 and is based in Kista, Sweden.

How the Company Makes Money

Maven Wireless Sweden AB generates revenue through the sale of its wireless communication solutions, which include hardware products like repeaters and distributed antenna systems (DAS), as well as software and services related to network performance improvement. The company's key revenue streams include direct sales to telecommunications operators, system integrators, and enterprise customers who require enhanced indoor and outdoor wireless coverage. Additionally, Maven Wireless may engage in partnerships with major telecom providers and other technology companies to expand its market reach and enhance its product offerings. These partnerships can contribute significantly to its earnings by opening new distribution channels and facilitating large-scale deployments of its solutions.

Maven Wireless Sweden AB Financial Statement Overview

Summary

Overall financials are mixed but pressured: the income statement is weak with declining 2025 revenue and a swing to a sizable net loss, indicating deteriorating margins and execution risk. Offsetting this, the balance sheet remains relatively solid with moderate leverage, and 2025 operating/free cash flow turned positive, though cash flow has been volatile historically.

Income Statement

Profitability has deteriorated materially: 2025 revenue declined to 183.0m (down 11.3%) and the company swung from small profits in 2024 to a sizable net loss in 2025, with near-breakeven gross margin and negative operating margin. The longer-term picture shows the business can be profitable (strong 2023 margins and earnings), but results have been volatile with multiple loss years, raising execution and cost-control risk.

Balance Sheet

The balance sheet remains a relative strength with a solid equity base (2025 equity 116.4m vs. debt 24.1m) and a still-moderate leverage profile despite the step-up in borrowing in 2025 (debt-to-equity rising from ~0.02 in 2024 to ~0.21 in 2025). The key weakness is the negative return on equity in 2025, indicating the capital base is not currently generating profits.

Cash Flow

Cash generation improved in 2025, with positive operating cash flow (4.5m) and positive free cash flow (3.8m), a notable reversal from the cash burn in 2024. However, free cash flow dropped sharply versus the prior year (down ~69.7%), and the history shows meaningful volatility (strong cash flow in 2023 but negative free cash flow in several other years), which reduces confidence in consistency.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	183.00M	213.19M	256.21M	101.45M	44.93M
Gross Profit	887.00K	105.16M	111.73M	46.19M	28.62M
EBITDA	-8.35M	2.22M	43.96M	-53.00K	-11.23M
Net Income	-14.84M	216.00K	39.03M	-6.42M	-12.82M
Balance Sheet
Total Assets	172.45M	161.92M	181.36M	123.90M	88.02M
Cash, Cash Equivalents and Short-Term Investments	3.50M	0.00	41.69M	14.41M	14.11M
Total Debt	24.06M	2.33M	4.90M	3.92M	5.71M
Total Liabilities	56.04M	47.45M	62.38M	44.90M	19.27M
Stockholders Equity	116.41M	114.47M	118.98M	79.00M	68.75M
Cash Flow
Free Cash Flow	3.83M	-10.95M	27.62M	-13.84M	-35.92M
Operating Cash Flow	4.52M	-9.82M	48.56M	2.58M	-21.27M
Investing Cash Flow	-23.66M	-26.39M	-20.87M	-16.36M	-14.62M
Financing Cash Flow	22.65M	-5.52M	-409.00K	14.02M	48.99M

Maven Wireless Sweden AB Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 5.50
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:MAVEN, the sentiment is Negative. The current price of 5.5 is above the 20-day moving average (MA) of 4.31, above the 50-day MA of 4.99, and below the 200-day MA of 7.19, indicating a bearish trend. The MACD of -0.30 indicates Negative momentum. The RSI at 39.06 is Neutral, neither overbought nor oversold. The STOCH value of 34.70 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:MAVEN.

Maven Wireless Sweden 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%
KEBNI.B	50 Neutral	kr414.26M	-2,162.86	8.68%	―	9.30%	―
NETI.B	47 Neutral	kr752.02M	-102.74	0.87%	―	-15.56%	-92.87%
MAVEN	44 Neutral	kr213.18M	-14.40	-5.81%	―	-9.79%	-144.24%
INCOAX	44 Neutral	kr63.93M	-1.93	-24.59%	―	-48.24%	-48.99%
GAPW.B	43 Neutral	kr438.23M	-6.59	-52.89%	―	53.78%	19.38%