Maven Wireless Sweden AB (Publ)

MAVEN.ST

Communication Equipment · Technology

Price

kr 4.97

+0.17 (+3.54%)

Market Cap

kr 281.2M

Exchange

Stockholm Stock Exchange

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Weak

Cash Flow

Weak

Stability

Good

Valuation

Data not available

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Share count rising — dilution

+5.3% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 50.6M (2021) → 53.2M (2025)

Winston Score History

The full picture

Maven Wireless Sweden AB makes antenna systems that help mobile networks work better inside buildings, tunnels, and stadiums. These systems are called distributed antenna systems, or DAS, and they are sold to mobile operators, transit authorities, and venue owners across Europe. The company is based in Sweden and focuses on helping 4G and 5G signals reach places where they would otherwise be weak or nonexistent.

Maven earns money by selling hardware and related services to network operators and infrastructure owners. It operates mainly in the Nordic region and select European markets, and its competitive position rests on technical specialization in challenging indoor and underground environments. The company is small, with a market cap around $300 million, and is not yet profitable, as its negative operating margin and ROIC show. The key growth driver is the ongoing 5G rollout across Europe, which is pushing operators to upgrade indoor coverage infrastructure, but Maven must scale revenue fast enough to reach profitability before its cash position becomes a concern.

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

-39.0% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+1.8% YoY

YoY Growth Rate

Slow EPS growth

R&D Spend

kr 0/ year

↓ Declining (-100% vs prior year)

0.0% of revenue

Below sector average (15%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

48.2%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~2 months

kr 5M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

Maven Wireless Sweden AB (Publ) has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

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.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

1.4%

Thin — 1.4% gross margin

Profit after running costs

Operating Margin

1.4%

Thin — 1.4% operating margin

Return on the money invested

ROCE

-17.5%

Weak — -17.5% 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

-33.8%

Shrinking sales (-33.8% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

3/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

-24.2%

Burning cash (-24.2%)

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

0.03

Conservative — low debt load (0.03)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

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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