Maven Wireless Sweden (MAVEN) Q2 2025 earnings summary

Executive summary

• Net sales for Q2 2025 reached SEK 73.0 million, up 37% year-over-year, driven by increased production and new market entries.

• Gross margin was 39%, impacted by component and obsolete inventory sales; adjusted margin aligns with prior year.

• EBITDA for Q2 2025 was SEK 5.9 million (8% margin), up from SEK 2.8 million (5%) in Q2 2024.

• Order intake increased by 9% year-over-year to SEK 43 million, with notable wins in airports and public safety sectors.

• CEO transition announced, with the current CEO moving to a board role after nearly a decade.

Financial highlights

• Net sales for Q2 2025: SEK 73.0 million (Q2 2024: SEK 53.3 million); H1 2025: SEK 121.9 million (H1 2024: SEK 107.0 million).

• EBITDA: SEK 5.9 million (Q2 2024: SEK 2.8 million); EBIT: SEK 3.9 million (Q2 2024: SEK 0.9 million); EBITDA margin: 8%; EBIT margin: 5%.

• Earnings per share: SEK 0.01 (Q2 2024: SEK 0.00), before and after dilution.

• Cash flow from operations: SEK 27.1 million (Q2 2024: SEK 6.9 million).

• Equity per share: SEK 2.27 at end of Q2 2025; equity ratio: 63%.

Outlook and guidance

• Market outlook remains positive, driven by 5G expansion, public safety network upgrades, and new verticals like airports.

• Majority of 5G indoor deployments are still ahead, with fiber-to-antenna seen as critical.

• Public safety LTE and FRMCS rollouts in Europe and India expected to drive demand through the late 2020s.

• Growth strategy focuses on expanding in North America, Australia, Asia/Middle East, and strengthening 5G offerings.

• Ongoing investments in new technology platforms and certifications in Australia and New Zealand.