Third quarter: 1 July – 30 September 2022 (Parent company) 

• Net sales amounted to MSEK 30.9 (MSEK 8.5)  
• EBITDA amounted to MSEK 6.3 (MSEK –7.9)  
• Net result amounted to MSEK 5.9 (MSEK –9.2) corresponding to SEK 0.19 (SEK -0.30) per share  
• Cash flow for the period was MSEK –4.3 (MSEK –12.4) and cash and cash equivalents at the end of the period amounted to MSEK 178

During Q3, the net sales revenue was MSEK 30.9, a growth of 261% compared to the same period in 2021. The revenue was MSEK 53 year-to-date. Q3 was a profitable quarter, with an EBITDA of MSEK 6.3.

Agreement with Robert Bosch GmbH
During the period Gapwaves entered into its largest agreement to date. The agreement with Bosch includes both development and large-scale supply of high-resolution radar antennas for automotive vehicle applications. The contract has an expected sales value of high double-digit million-euro range over the next decade.

CEO Jonas Ehinger comments on the report:
“I am grateful and proud of the Gapwaves team's achievements during the quarter. The contract with Bosch is a true steppingstone for us, becoming a supplier of radar antennas to the automotive industry. Combined with other agreements it adds to our long-term business foundation. The third quarter has been very strong for us, both financially and in terms of important activities and momentum in our customer partnerships and several new customer project discussions that have been initiated.”

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: jonas.ehinger@gapwaves.com

Robert Berhof, CFO Gapwaves AB (publ)
Phone number: +46 706 00 59 07 
E-post: robert.berhof@gapwaves.com 

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.