Gapwaves AB (publ) (STO:GAPW.B)

Sweden · Delayed Price · Currency is SEK

7.65

-0.19 (-2.42%)

Nov 6, 2026, 5:29 PM CET

Gapwaves AB Financials Overview

Financials in millions SEK. Fiscal year is January - December.

Millions SEK. Fiscal year is Jan - Dec.

Revenue & Profits

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	66.84	93.12	68.64	29.73	64.03	34.86
Revenue Growth	-23.51%	35.67%	130.89%	-53.58%	83.69%	114.35%
Gross Profit	-20.96	-5.22	-5.15	-20.19	8.57	-3.13
Operating Income	-55.36	-41.46	-39.86	-57.51	-25.91	-36.51
Net Income	-92.17	-58.24	-52.07	-69.24	-18.01	-36.31
Earnings Per Share	-2.29	-1.60	-1.67	-2.22	-0.58	-1.18
EPS Growth	-	-	-	-	-	-

Revenue by Geography

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Sweden	1.14	4.83	3.51	0.32	37.33
EU	40.7	33.02	22.5	36.2	-
The Rest of The World	48.71	28.23	1.5	27.51	-
Total	90.55	66.08	27.51	64.02	37.33

Cash & Debt

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Investments	47.01	87.15	40.75	89.33	185.43	211.16
Total Debt	6.18	13.52	-	-	-	1.46
Net Cash (Debt)	40.83	73.63	40.75	89.33	185.43	209.69
Net Cash Growth	46.02%	80.67%	-54.38%	-51.82%	-11.57%	169.31%
Net Cash Per Share	1.01	2.03	1.31	2.87	5.95	6.81

Cash Flow & CapEx

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Cash Flow	-41.73	-30.56	-28.06	-47.52	-24.62	-41.61
Capital Expenditures	-13.38	-1.98	-1.82	-1.52	-0.5	-6.79
Free Cash Flow	-55.11	-32.53	-29.89	-49.04	-25.13	-48.4
Free Cash Flow Growth	-	-	-	-	-	-

Margins

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Gross Margin	-31.36%	-5.60%	-7.50%	-67.91%	13.38%	-8.98%
Operating Margin	-82.83%	-44.53%	-58.08%	-193.45%	-40.46%	-104.74%
Pretax Margin	-137.90%	-62.54%	-75.86%	-232.91%	-28.14%	-104.17%
Profit Margin	-137.90%	-62.54%	-75.86%	-232.90%	-28.13%	-104.16%
FCF Margin	-82.45%	-34.94%	-43.54%	-164.95%	-39.24%	-138.85%

Valuation

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov '26 Nov 7, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
PS Ratio	4.16	5.85	6.44	23.42	13.36	43.70