Gapwaves interim report January-March 2023, Q1

Strategic projects developed according to plan 
The first quarter of the year is characterized by increased interest for Gapwaves products and a positive momentum in ongoing strategic projects.

Strong market development 
The market develops and the demand for vehicle radar rises. Today, radar technology is used in Automotive for example in emergency braking systems and Adaptive cruise control. In addition to that, the Mobility sector is requesting more advanced high resolution radar sensors to within a few years be able to offer vehicles with a higher degree of self-driving functions for applications such as drones, delivery trucks, freight vehicles and various types of transport pods. With Gapwaves high-performing and cost-efficient radar antennas the company is in a good position for continued growth. 

First quarter: 1 January – 31 March 2023  

• Net sales amounted to MSEK 4,9 (MSEK 5,8)   

• EBITDA amounted to MSEK -16 (MSEK –8,2)   

• Net result amounted to MSEK –17,9 (MSEK –10) corresponding to SEK neg          
  (SEK neg) per share   

• Cash flow for the period was MSEK –13,3 (MSEK –17,8) and cash and cash 
  equivalents as per March 31 amounted to MSEK 172 

The full report is available as attached PDF and at Gapwaves website; Financial reports, download. 

For more information, please visit www.gapwaves.com or contact:  
Jonas Ehinger, CEO Gapwaves AB (publ) 
Phone number: +46 733 44 01 52 
E-post: [email protected] 

Robert Berhof, CFO Gapwaves AB (publ) 
Phone number: +46 706 00 59 07  
E-post: [email protected] 

Gapwaves Certified Adviser is G&W Fondkommission AB  
www.gwkapital.se 

About Gapwaves AB (publ) 
Gapwaves originates from research conducted at Chalmers University of Technology and was founded in 2011. Gapwaves vision is to be the most innovative provider of mm-wave antenna systems and the preferred partner to those pioneering next generation wireless technology. By leveraging the disruptive Gapwaves technology we help pioneers in telecom and automotive to create highly efficient mm-wave antenna systems that contributes to re-defining everyday life. Gapwaves markets are e.g. mmWave in the automotive and telecom industries.   

Gapwaves share (GAPW B) is traded at Nasdaq First North Stockholm with G&W Fondkommission as Certified Adviser.