Slide 1: Webcast Q1 2026
Webcast Q1 2026
Slide 2: Swedish tech company with patented waveguide technology
GAPWAVES IN BRIEF Swedish tech company with patented waveguide technology What we do Applications Value chain position High-performance antenna solutions TIER 2 SUPPLIERS Automotive Example companies Mobility Smart City TIER 1 Defense SUPPLIERS Wireless Example companies CAR MANUFACTURERS (OEM) Exam
Slide 3: Well-positioned for profitable growth
INVESTMENT CASE Well-positioned for profitable growth Strong market potential and growing TAM Driven by regulation and customer needs World-leading technology With extensive patent portfolio Volume production has started >1 500 000 antennas produced Asset-light and flexible business model Re
Slide 4: Q1 Highlights
“APWAVES 2026 Q1 Highlights |
Slide 5: Industrialisation continues
HIGHLIGHTS Q1 Industrialisation continues Ongoing launch of volume production in China with SOP during Q2 >1 500 000 Gapwaves antennas since inception (up from 1 000 000 end of 2025) Valeo volumes increasing strongly since start of production last summer Scaling up in phases building capacit
Slide 6: Macro and Production ramp-up weighs on Q1 results
HIGHLIGHTS Q1 Macro and Production ramp-up weighs on Q1 results Q1 Net Sales Net sales MSEK MSEK 18,8 (MSEK 22,8) 20 Q1 Adj. EBITDA 10 MSEK -7,3 0 (MSEK -2,5) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2023 2024 2025 2026 Q1 Total Cash Flow Macro headwinds persist, negatively impacting project-related
Slide 7: 2026: a transitional year
HIGHLIGHTS Q1 2026: a transitional year Transitioning from a research focused technology company to a product company Scaling up volume automotive production to meet growing demand Lower unit price in volume production, but building scalability and ensures long-term growth Focus areas: Scali
Slide 8: Business model & strategy
Business model & strategy We grow together with our customers
Slide 9: Attractive business model - revenue opportunity at every step
BUSINESS MODEL AND STRATEGY Attractive business model - revenue opportunity at every step Phase 1 Phase 2 Phase 3 Phase 4 6-18 months 9-36 months 1 year Several years Prototype Contractual Product Start of Launch Pre-study Volume production project work development production phase PRICE PER UNIT AC
Slide 10: Scalable and flexible production setup - with minimal Capex
BUSINESS MODEL AND STRATEGY Scalable and flexible production setup - with minimal Capex Volume production Prototype production European Research & Development supply chain – Work in progress Gothenburg Tianjin, China Chuzhou, China Industrialization High-volume Antenna design Prototypes Lower volume
Slide 11: Market potential
Market potential Automation drives radar growth
Slide 12: Regulation and consumer needs are strong drivers – Automation drives radar growth
MARKET POTENTIAL Regulation and consumer needs are strong drivers – Automation drives radar growth Market drivers Product impact Industry impact Automotive radar forecast (million units) 350 > 3 radars NCAP1) Higher resolution Increasing demand per car & Legislation 300 & performance for Waveguide &
Slide 13: Going forward Volume production
Going forward Volume production New customers Gapwaves New segments products in new >1 500 000 New contracts antennas cars on the roads produced with Gapwaves technology to date
Slide 14: Well-positioned for profitable growth
INVESTMENT CASE Well-positioned for profitable growth Strong market potential and growing TAM Driven by regulation and customer needs World-leading technology With extensive patent portfolio Volume production has started >1 500 000 antennas produced Asset-light and flexible business model Re
Slide 15: Q&A
Q&A CEO interview with Redeye beginning of next week Have a question? Submit it to Redeye rasmus.jacobsson@redeye.se
Slide 16: For more information
For more information CONTACT Jonas Ehinger CEO jonas.ehinger@gapwaves.com
Slide 17: Thank you!
Thank you! Follow us Gapwaves AB (publ) Corp. Reg. No. 556840-2829 Headquarters: Nellickevägen 22 SE-412 63 Gothenburg, Sweden Tel: +46 31 762 60 40 E-mail: info@gapwaves.com www.gapwaves.com