ChargePanel AB (publ)

CHARGE.ST

Specialty Retail · Consumer Cyclical

Exchange

Stockholm Stock Exchange

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 23, 2026 · filings through Mar 31, 2026

How the score breaks down

Quality

Weak

Growth

Strong

Cash Flow

Weak

Stability

Data not available

Valuation

Data not available

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Winston Score History

The full picture

ChargePanel AB is a Swedish software company that helps businesses manage electric vehicle (EV) charging networks. Its platform lets companies — such as property owners, fleet operators, and charging station providers — control, monitor, and bill for EV charging across multiple locations. The company operates in the fast-growing EV infrastructure software space, sometimes called Charge Point Management System (CPMS) software.

ChargePanel earns revenue primarily through software subscriptions and platform fees charged to its business customers. The company is based in Sweden and operates mainly across Europe, where EV adoption is being pushed by government policy. Its competitive position relies on the flexibility of its white-label platform, which lets customers brand the software as their own — but the company is still early-stage, burning cash heavily, with negative gross and operating margins. The main risk is that larger, better-funded competitors could undercut ChargePanel before it reaches the scale needed to become profitable.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+108.6% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+53.6% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

74.1%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~5 months

kr 5M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Short runway — potential dilution ahead through share issuance

Revenue accelerating

ChargePanel AB (publ) grew revenue 109% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

-32.8%

Thin — -32.8% gross margin

Profit after running costs

Operating Margin

-32.8%

Losing money on operations — -32.8%

Return on the money invested

ROCE

-151.0%

Weak — -151.0% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

+13.4%

Fast-growing sales (+13.4% YoY)

Profit growth

EPS YoY

N/A

—

Data not available

How steady the profit is

EPS Consistency

8/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

—

Data not available

Spare cash per sale

FCF Margin

-93.9%

Burning cash (-93.9%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

N/A

Data not available

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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