Maven Wireless Sweden (MAVEN) Q1 2025 earnings summary

Executive summary

• Order intake rose 18% year-over-year to SEK 55 million, marking a record Q1 intake.

• Net sales for Q1 2025 were SEK 40.7–48.9 million, reflecting a decrease due to supply chain issues and delayed deliveries.

• Gross margin remained strong at 44%, down from 47% in Q1 2024, mainly due to product mix.

• EBITDA for Q1 2025 was SEK 2.7 million (5% margin), significantly lower than SEK 10.4 million (19% margin) a year ago.

• Maven Wireless specializes in digital wireless indoor coverage solutions, with a global presence and European manufacturing.

Financial highlights

• Operating profit (EBIT) was SEK 0.7 million, down from SEK 8.5 million year-over-year.

• Earnings per share after dilution was SEK -0.04, compared to SEK 0.12 last year.

• Order book at period end was SEK 109.6 million, up from SEK 80.7 million.

• Share price at period end was SEK 9.36, a decrease of 11% during Q1.

• Cash flow from operating activities was negative SEK 4 million, with liquidity measures implemented.

Outlook and guidance

• Positive cash flow is expected in Q2 2025, supported by factoring and extended supplier credit.

• Management expects continued growth, driven by new customer acquisitions and market expansion.

• Launch of Nimbus platform for 5G indoor coverage progressing, with field tests planned for spring.

• US market shift may delay some projects, but new public safety repeater is entering certification with sales expected in Q2.

• Positive trends in Europe as customers seek local suppliers, providing a strategic advantage.