Gapwaves AB Balance Sheet

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

Millions SEK. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 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 & Equivalents	73.03	87.15	40.75	89.33	185.43	211.16
Cash & Short-Term Investments	73.03	87.15	40.75	89.33	185.43	211.16
Cash Growth	116.17%	113.85%	-54.38%	-51.82%	-12.18%	171.19%
Accounts Receivable	18.36	26.79	18.85	5.08	9.16	8.3
Other Receivables	3.52	5.33	8.8	13.28	18.61	1.81
Receivables	21.89	32.12	27.64	18.36	27.77	10.1
Inventory	4.95	3.68	2.09	1.81	1.61	0.67
Prepaid Expenses	5.08	3.01	3.61	3.35	2.76	10.3
Other Current Assets	-	-0	0	-0	-	-
Total Current Assets	104.94	125.95	74.1	112.85	217.57	232.22
Property, Plant & Equipment	16.72	6.55	6.82	7.08	7.84	9.16
Long-Term Investments	5.01	9.99	17.46	32.48	-	2.63
Other Intangible Assets	4.68	5.61	9.35	13.09	16.75	0.12
Long-Term Deferred Tax Assets	0.96	1.15	1.91	2.68	3.45	-
Long-Term Deferred Charges	0.35	0.47	1.23	2.73	5.26	9.47
Other Long-Term Assets	17.57	16.07	20.12	0.68	0.64	-
Total Assets	150.23	165.79	130.99	171.58	251.51	253.59
Accounts Payable	8.03	14.59	6.02	4.45	5.79	11.68
Accrued Expenses	9.86	13.38	12.6	7.85	9.28	5.09
Short-Term Debt	17.03	13.52	-	-	-	-
Current Portion of Long-Term Debt	-	-	-	-	-	0.65
Current Income Taxes Payable	0.24	0.67	0.78	0.37	0.07	-
Current Unearned Revenue	0.69	5.2	7.1	2.93	11.05	7.28
Other Current Liabilities	4.26	-	-	-	-	-
Total Current Liabilities	40.11	47.37	26.51	15.59	26.19	24.7
Long-Term Debt	5.41	-	-	-	-	0.81
Long-Term Deferred Tax Liabilities	0.96	1.15	1.91	2.68	3.45	-
Other Long-Term Liabilities	-	-0	0	-	-0	-0
Total Liabilities	46.48	48.52	28.42	18.27	29.63	25.51
Common Stock	2.18	2.18	1.87	1.87	1.87	1.84
Additional Paid-In Capital	497.37	497.45	426.15	426.15	426.15	416.72
Retained Earnings	-	-	-	-	-	-190.48
Comprehensive Income & Other	-395.8	-382.35	-325.45	-274.71	-206.14	-
Shareholders' Equity	103.75	117.27	102.57	153.31	221.88	228.08
Total Liabilities & Equity	150.23	165.79	130.99	171.58	251.51	253.59
Total Debt	22.44	13.52	-	-	-	1.46
Net Cash (Debt)	50.59	73.63	40.75	89.33	185.43	209.69
Net Cash Growth	49.74%	80.67%	-54.38%	-51.82%	-11.57%	169.31%
Net Cash Per Share	1.34	2.03	1.31	2.87	5.95	6.81
Filing Date Shares Outstanding	36.34	36.34	31.15	31.15	31.15	30.71
Total Common Shares Outstanding	36.34	36.34	31.15	31.15	31.15	30.71
Working Capital	64.83	78.59	47.6	97.26	191.39	207.52
Book Value Per Share	2.86	3.23	3.29	4.92	7.12	7.43
Tangible Book Value	99.07	111.66	93.22	140.22	205.13	227.96
Tangible Book Value Per Share	2.73	3.07	2.99	4.50	6.59	7.42
Machinery	-	18.58	14.38	14.34	12.7	12.85
Construction In Progress	-	-	2.22	0.43	0.6	-

Source: S&P Global Market Intelligence. Standard template. Financial Sources.