Gapwaves (GAPW) DNB Carnegie Småbolagsdag summary
Event summary combining transcript, slides, and related documents.
DNB Carnegie Småbolagsdag summary
2 Dec, 2025Company background and technology
Specializes in advanced waveguide antenna technology developed from over 20 years of research at Chalmers University.
Focuses on high-frequency antennas, primarily for automotive applications, but also targets other wireless communication sectors.
Listed on First North since 2016, with a strong patent portfolio and a flexible, asset-light production model using external partners.
Market position and growth drivers
Main market is automotive, acting as a tier 2 supplier with products integrated into tier 1 customer solutions for OEMs.
Automotive radar market is growing rapidly, driven by legal safety requirements and technical regulations, especially in Europe and the US.
Over 500,000 antennas produced to date, with production ramping up for major contracts.
Antenna technology is now in commercial, large-scale production for demanding automotive clients.
Product innovation and competitive advantages
Antennas are thinner, lighter, and more cost-effective than competitors, using copper instead of silver and allowing for simpler manufacturing.
Newest antenna is one-eighth the thickness of competitors, improves sensor cooling, and is protected by strong patents.
Customers are increasingly interested in the latest antenna technology, which is now in production for multiple clients.
Latest events from Gapwaves
- Automotive antenna programs near production as industrialization spending accelerates.GAPW
Q3 2023 - Automotive momentum rose as scaling costs weighed on Q2 and Sensrad advanced toward launch.GAPW
Q2 2023 - Lower Q1 sales and negative EBITDA accompanied a strategic move into imaging radar.GAPW
Q1 2023 - Product sales led as volumes scaled, while Sensrad impairments deepened losses.GAPW
Q3 2026 - Q2 2026 revenue dropped 46% as Valeo production launch sets stage for future growth.GAPW
Q2 2026 - Q1 sales fell 17.4% as volume production ramped up, but long-term demand remains strong.GAPW
Q1 2026 - Record sales, over one million antennas produced, and strong liquidity despite higher costs.GAPW
Q4 2025 - Record revenue growth and new supply deals drive expansion and improved earnings.GAPW
Q4 2024 - Q4 revenue up 164% year-over-year, with strong growth outlook and new strategic agreements.GAPW
Q4 2024