1. Sweden Stocks

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    Electronic technology

  3. •

    Telecommunications equipment
Gapwaves AB Class B

Gapwaves AB Class B

13.34
SEK
-0.60
(-4.30%)
-1.81EPS
652.62MMarket Cap
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
0.04
- -
0.1
0.06
0.08
0.65
0.59
1.13
2.06
0.88
2.12
2.91
2.35
Basic EPS, GAAP
-0.1
-0.14
-0.25
-1.77
-1.94
-1.44
-1.62
-1.18
-0.58
-2.22
-1.67
-1.87
-1.82
Free Cash Flow per Basic Share
-0.11
-0.21
-0.24
-1.94
-1.94
-1.29
-1.39
-1.65
-0.86
-1.58
-0.96
-1.04
-1.67
Dividend per Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Book Value per Share
0.2
0.3
0.15
1.47
3.28
4.26
2.87
7.42
7.12
4.92
3.29
3.23
2.37
Tangible Book Value per Share
- -
0.03
-0.15
0.69
2.7
3.76
2.44
7.11
6.42
4.41
2.95
3.06
2.26
Basic Weighted Avg Shares
15
15
15
15
23
25
27
31
31
31
31
31
34
Sales/Revenue/Turnover
1
- -
2
1
2
16
16
35
64
28
66
91
79
Operating Margin (%)
-260.94
- -
-238.71
-3,097.25
-2,482.29
-221.9
-258.83
-104.74
-40.47
-209.04
-60.25
-45.74
-55.29
Depreciation Expense
1
1
1
3
9
5
6
6
8
8
7
7
7
Net Income, GAAP
-2
-2
-4
-27
-44
-36
-44
-36
-18
-69
-52
-58
-61
Effective Tax Rate (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Profit Margin (%)
-260.99
- -
-242.52
-3,131.81
-2,496.71
-222.96
-272.55
-104.17
-28.14
-251.67
-78.69
-64.24
-77.26
Working Capital
- -
- -
4
15
66
101
64
208
191
97
48
79
51
LT Debt
- -
- -
6
5
4
2
- -
1
- -
- -
- -
- -
5
Total Equity
3
4
2
27
80
115
79
228
222
153
103
117
86
Return on Invested Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Common Equity (%)
- -
-54.97
-112.82
-189.05
-82.45
-36.89
-45.71
-23.63
-8.01
-36.91
-40.7
-52.98
-68.01

Capital Structure

SEK

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
14
17
7
LT Borrowings
- -
5
5
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
36
36
36
Market Capitalization
545
408
653

Working Capital

SEK

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
126
105
83
Cash, Cash Equivalents & STI
87
73
51
Accounts Receivable, Net
16
12
17
Inventories
4
5
6
Total Current Liabilities
47
40
32
Payables & Accruals
- -
- -
- -
ST Debt
14
17
7
Deferred Revenue
- -
- -
- -

Growth Rates

SEK

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
141.35%
27.04%
14.34%
Free Cash Flow
82.7%
7.91%
8.86%
Net Income, GAAP
98.27%
40.59%
11.85%
Sales/Revenue/Turnover
- -
63.7%
37.02%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

SEK

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
16
14
18
18
66
2025
23
24
- -
23
91
2026
19
13
- -
- -
- -

Quarterly Earnings Per Share

SEK

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.44
-0.46
-0.38
-0.39
-1.67
2025
-0.29
-0.25
- -
-0.71
-1.87
2026
-0.36
-0.49
- -
- -
- -

Quarterly Dividends Per Share

SEK

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Jonas Ehinger
Full Time Employees
41
Sector
Electronic technology
Industry
Telecommunications equipment
Address
Nellickevagen 22 Gothenburg VG Sweden 412 63
IPO Date
Nov 7, 2016
Website
gapwaves.com
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Business
Gapwaves AB (publ) (GAPW-B.ST) designs, develops, manufactures and delivers advanced waveguide and antenna products based on patented technology for millimeter-wave applications in the automotive radar and telecommunications industries. The company offers automotive radar antennas for advanced driver assistance systems and autonomous vehicles; 5G phased array antennas and flat panel antennas for wireless communication; flange adapters; and waveguide filters, targeting markets including smart cities, traffic monitoring and intrusion detection with low-loss, high-performance, compact solutions. Gapwaves operates globally from its headquarters in Gothenburg, Sweden, serving customers in Sweden, the European Union and internationally; founded in 2011 by Prof. Per-Simon Kildal at Chalmers University of Technology and listed on Nasdaq First North Growth Market since November 2016. Recent developments include an oversubscribed rights issue in December 2025 raising approximately SEK 78 million before costs to support growth; Vinnova funding awarded in November 2025 for a six-month research project with Waymo on next-generation imaging radar using Multi-Layer Waveguide technology for autonomous vehicles; and ongoing partnerships with entities such as Bosch, HELLA, Magna, NXP, Texas Instruments, Valeo and Sensrad.