We continue to see the highest interest for
Volume deliveries and intensified discussions
We see an increased inflow of follow-up orders and new projects from existing customers where the projects increase in both scope and value. Furthermore, we see an increased interest from new players, which is partly a result of the publicity surrounding the deal with HELLA.
Revenue has increased by more than 200% compared to the same period last year, which is partly a result of large deliveries of advanced high-resolution 77 GHz radar antennas to Uhnder, Smartmicro and the tech-giant we have been working with since 2020. These antennas are all mounted and tested in our own production facility in
During the quarter, Uhnder ordered new projects. In addition to robotic transports, they are now also choosing to develop a 77 GHz antenna intended for vehicle radar based on
Furthermore, we have started a new collaboration with another Tier 1, one of the world-leading suppliers to the automotive industry, which has long been high on our wish list. During the quarter, the customer ordered three parallel projects with the aim of developing a more advanced and complex antenna for a high-resolution vehicle radar. The customer is pleased with the outcome so far and confirms that they see
The collaboration with HELLA, with the aim of producing the next generation of corner radar, is proceeding according to plan and after the end of the period a new order was received. The order is a follow-up to previous 77 GHz vehicle radar projects. The prototypes produced will meet the antenna specification of the final high-volume product.
Since we have now delivered over 14 000 antennas and that several of our customers have initiated discussions about long-term agreements for high-volume scenarios, we feel that the future looks positive.
Continued interest from the telecom market
We continue to monitor the rollout of 5G on millimeter waves and are ready when it picks up. Driven by the development of smart cities, automated vehicles and 5G / 6G at higher frequencies, it is our belief that we will see an increased interest in
Another exciting area that we are exploring is satellite communication, where
Long-term strategies are followed
One area that we follow extra closely is the development within the next generation of radar. The higher levels of automated vehicles require extremely high-resolution Imaging Radars, a sensor that is vital in self-driving vehicles. For this type of radar sensor, we see a new market taking shape where a waveguide antenna will be necessary for a high-performance system.
Third quarter: 1 July -
- Net revenue amounted to 8,5 MSEK (2,6 MSEK)
- Operational result amounted to -9,4 MSEK (-12,6 MSEK)
-
Net result amounted to -9,2 MSEK (-12,6 MSEK) corresponding to
-0,30 SEK (-0,45 SEK ) per share - Cash flow for the period was -12,4 MSEK (-12,8 MSEK) and cash and cash equivalents at the end of the period amounted to 219 MSEK (85 MSEK)
CEO Lars-Inge Sjöqvist comments on the report:
"We see an increased interest in our technology throughout the period and in the last few weeks we delivered around 500 prototype antennas to some of our customers. After the period, we have delivered an additional 1 200 antennas to our customers. I would like to thank all the employees at
The report can be downloaded here.
For more information, please contact:
Lars-Inge Sjöqvist, VD
Phone number: +46 736 84 03 56
E-mail: lars-inge.sjoqvist@gapwaves.com
Gapwaves Certified Adviser is G&W Fondkommission
Phone number: +46 (0)8 503 000 50
E-mail: ca@gwkapital.se
www.gwkapital.se
About
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Gapwaves share (GAPW B) is traded at Nasdaq First North Stockholm with G&W Fondkommission as Certified Adviser.
https://news.cision.com/gapwaves-ab/r/gapwaves-interim-report-july-september-2021-strong-development-and-strengthened-positions,c3450572
https://mb.cision.com/Main/15316/3450572/1493890.pdf
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