Maven Wireless publish interim report for third quarter 2025. The interim report is also available at www.mavenwireless.com
Challenging quarter with strong gross margin of 46%
Third quarter 1 July - 30 September 2025 (MSEK)
- Net sales amounted to 31.391 (35.880)
- EBITDA -2.904 (-2.839)
- Operating profit -4.976 (-4.777)
- Order intake 20.732 (64.894)
- Cash flow from current operations -11.998 (-3.723)
- Earnings per share after dilution SEK 0.08 (-0.09)
- Equity per share SEK 2.21 (2.24)
Period 1 January - 30 September 2025
- Net sales amounted to 153.254 (142.928)
- EBITDA 5.681 (10.310)
- Operating profit -463 (4.541)
- Order intake 118.791 (150.954)
- Cash flow from current operations 11.100 (-24.066)
- Earnings per share after dilution SEK- 0.11 (0.03)
- Equity per share SEK 2.21 (2.24)
CEO's statement
In line with the preliminary figures published on October 6, net sales decreased by 13 percent to SEK 31 million. To strengthen the execution power of our commercial strategy, changes have been made in the sales organization's leadership. In August, Jörgen Krigsman took over as Global Sales Manager with responsibility for the Group's sales targets, and during the summer Joe Altadona started as Sales Manager for the Americas with a focus on expansion in North America.
Further, the gross margin strengthened to 46 percent, which is explained by a favorable product mix in deliveries for the quarter. The improved gross margin contributed to EBITDA amounting to SEK -2.9 million, in line with the corresponding quarter last year when sales were higher.
Order intake amounted to SEK 21 million, compared with SEK 65 million in the corresponding period last year. The lower level is mainly explained by extended decision-making processes in several ongoing deals. At the same time, the volume of outstanding offers for the coming quarters has increased, which strengthens the conditions for an improved order intake going forward.
During the quarter, the company strengthened its financial position through a loan of SEK 4 million from Almi Företagspartner. The proceeds will be used to accelerate the development of the next generation of train repeaters, with the aim of expanding sales to more customers beyond the existing framework agreement with the train manufacturer in the UK.
We have also received a two-year extension of the framework agreement for the end customer ÖBB in Austria, with an estimated value of approximately SEK 100 million. In the mining industry, growth continues, where we won a project in the
critical communication in Mongolia - our first in this market. In the US, we have received our first order for Public Safety products, with delivery scheduled for early 2026. It is gratifying to now be able to establish commercial reference systems in North America, which is the world's largest submarket for DAS and repeater systems. Earlier in the year, we also delivered products for mobile phone coverage to a customer in the United States.
I would also like to highlight that the Board of Directors has appointed Anders Olin as my successor as CEO, effective January 1, 2026. Anders has a solid background in the industry and extensive experience in sales and company development. Through his two-year board work in Maven Wireless, he already has a good understanding of the business. Anders is a shareholder and will invest an additional approximately SEK 5 million through a directed share issue, underlining his long-term commitment. I feel very confident in handing over to Anders at the end of the year.
In summary, the quarter is characterized by a temporarily low order intake but a growing quotation backlog. The first commercial successes in the US, the extension of the framework agreement in Austria and the certification for Australia open up for continued geographical expansion. We are well positioned for the upcoming market phase of the 5G rollout where the need for indoor coverage increases globally, and we assess that our Nimbus platform, which is now undergoing final verification ahead of planned customer tests, will play a central role in this development.
We continue our work to build a global, profitable and market-leading company in mobile communication - both indoors and in challenging environments.
Fredrik Ekström - group CEO
Kista, October 17, 2025
Significant events during the third quarter
Maven Wireless expands sales to Mongolia - wins order in the mining industry
Maven Wireless has received an order for a DAS system for Christian communication (Public Safety) via a new local partner in Mongolia. The order value amounts to approximately SEK 1 million and marks the company's entry into a new geographic market.
The delivered system will be installed in a copper mine owned by one of the world's largest mining companies. The solution ensures robust and reliable wireless communication in demanding underground environments - an essential part of the mining safety infrastructure.
Maven Wireless receives extension of framework agreement with ÖBB worth approximately SEK 100 million
Maven Wireless has been granted an extended framework agreement with the Swedish Transport Administration in Austria for equipment and software for radio coverage in train tunnels. The updated framework agreement is extended for another 2 years and is valid until 31 October 2027.
With the current plan and estimated future orders including price adjustments, this extension is worth approximately SEK 100 million for products for the Austrian train tunnels.
Maven Wireless secures a corporate loan of SEK 4 million from Almi Företagspartner
Maven Wireless Sweden AB (publ) has entered into a new loan agreement with Almi Företagspartner of SEK 4 million. Previous loans from Almi have been repaid in full.
The new loan will be used to accelerate the development of the next generation of train repeaters. Through this investment, the company can both advance and broaden the upcoming market launch. The investment complements the already communicated framework agreement in the UK, worth SEK 200 million, which was announced on March 21, 2025.
Significant events after the end of the period
The Board of Directors of Maven Wireless has decided to carry out a directed share issue, totaling approximately SEK 10 million
The Board of Directors of Maven Wireless has resolved to carry out a directed share issue of a total of 1,200,000 shares, whereby the Company will receive a total of approximately SEK 10 million. Half of the shares are directed to the newly appointed CEO Anders Olin and the other half to external investors. Furthermore, it is also decided to implement an stock option package for the newly appointed CEO of 1,000,000 qualified employee options.
Anders Olin appointed new CEO of Maven Wireless
The Board of Directors of Maven Wireless Sweden AB has appointed Anders Olin as the new Chief Executive Officer (CEO). Anders Olin, who is currently Vice Chairman of the Group's Board of Directors, will take up his position on January 1, 2026.
Anders Olin has more than 25 years of experience from senior positions in the communications industry, including from Ericsson and Sinch, where he has held various roles in Sweden, Europe and the US. He has lived and worked abroad for a total of 17 years and most recently served as CEO of Zeta Display.
Anders Olin has undertaken to subscribe for 600,000 shares in a directed share issue, at the same time as he is offered an incentive program in the form of 1 million qualified employee stock options.
Notice of Extraordinary General Meeting in Maven Wireless
The shareholders of Maven Wireless Sweden AB are invited to an Extraordinary General Meeting to be held on Thursday, October 23, 2025 at 4:00 p.m. at the Company's premises at Torshamnsgatan 39b in Kista, Sweden. The purpose of the Extraordinary General Meeting is to resolve on a directed share issue of 600,000 shares, as well as an incentive program comprising 1,000,000 qualified employee options, directed to the newly appointed CEO Anders Olin.
Maven Wireless expands into the stadium segment - wins SEK 4 million order in the UK
Maven Wireless has received an order, through a local partner in the United Kingdom, for a Distributed Antenna System (DAS) for critical communications (Public Safety). The order value amounts to approximately SEK 4 million and marks the company's entry into a new market vertical - the stadium segment.
Delivery and invoicing are scheduled for the first quarter of 2026. The solution will ensure robust and reliable wireless communication, a key requirement for hosting safe and secure large-scale events.
For more information, please contact:
Fredrik Ekström, CEO
+46-8-760 43 00
www.mavenwireless.com
About Maven Wireless
Maven Wireless provides groundbreaking solutions in wireless coverage all over the world.
We offer end-to-end digital solutions with outstanding performance. Our products contribute to public safety by ensuring wireless coverage for critical services, and are used in tunnels, on trains, metros, stadiums, buildings and more. We are passionate about making society and our customers' and end users lives better, easier and safer by securing 100% wireless coverage. Maven Wireless is listed on Nasdaq First North Growth Market with the shortname MAVEN. FNCA Sweden AB is appointed as Certified Adviser.
For additional information, please visit: www.mavenwireless.com
This information is information that Maven Wireless Sweden is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-10-17 08:00 CEST.
