ChargePanel AB (CHARGE) AI Stock Analysis

ChargePanel AB

(Nasdaq OMX AB:CHARGE)

Select Model

Rating:48Neutral

Price Target:SEK 3.00▲(20.48% Upside)

Action:reiterated

Date:10/06/26

The overall score is heavily constrained by the company's dire financial performance, which is the most significant factor. The core issue is a fundamentally broken business model where a -45.0% gross margin causes accelerating losses and cash burn with every sale, despite high revenue growth. This is partially offset by strong technical momentum, as the stock price trends above all key moving averages, suggesting positive market sentiment or speculative interest. Valuation provides no support, with negative earnings and no dividend.

Positive Factors

Strong Revenue ExpansionTTM revenue growth of about 46% and a strong multi-year trajectory show that ChargePanel is expanding from its earlier base. If this adoption continues, greater scale can improve operating leverage and provide a broader platform for the company’s EV-charging offering over the next several quarters.

Negative Factors

Negative Gross ProfitNegative gross profit across all reported periods means the company is not yet covering its direct costs through revenue. This is a fundamental weakness rather than a temporary earnings fluctuation, and it limits the ability of future sales growth to translate into sustainable operating profit.

ChargePanel AB (CHARGE) vs. iShares MSCI Sweden ETF (EWD)

Market Cap: SEK 96.87M
Dividend Yield: ―
Average Volume (3M): 55.51K
Price to Earnings (P/E): -12.9
Beta (1Y): 0.09
Revenue Growth: ―
EPS Growth: ―
Country: Sweden
Employees: 10
Sector: General
Sector Strength: 55
Industry: Specialty Retail

ChargePanel AB Business Overview & Revenue Model

Company Description

ChargePanel AB (publ) provides a SaaS platform for the operation and management of electric vehicle charging networks. It offers ChargePanel Enterprise, ChargePanel Cloud, and ChargePanel Connect for Charge Point operators and e-mobility service prov...

ChargePanel AB Financial Statement Overview

Summary

Financial health is critically weak. While TTM revenue growth of 46.19% is a positive signal, it is overshadowed by a deeply negative gross margin of -45.0%, indicating the company loses money on every sale. This has resulted in severe operating losses, a negative return on equity of -125.9%, and a significant free cash flow burn of -7.2M SEK. The balance sheet has been temporarily stabilized by capital raises, but the underlying business model is unsustainable without drastic improvement in unit economics.

Income Statement

18Very Negative

Balance Sheet

35Negative

Cash Flow

22Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	15.18M	10.11M	12.61M	8.76M	4.59M	4.07M
Gross Profit	-6.83M	-1.43M	-2.46M	-8.55M	-9.52M	-2.08M
EBITDA	-6.81M	-9.68M	-10.65M	-14.96M	-15.27M	-4.02M
Net Income	-7.55M	-10.90M	-11.90M	-15.45M	-15.30M	-4.06M
Balance Sheet
Total Assets	17.74M	18.17M	14.46M	6.48M	14.36M	29.74M
Cash, Cash Equivalents and Short-Term Investments	4.50M	3.60M	6.25M	1.40M	10.03M	25.18M
Total Debt	5.20M	6.00M	6.00M	6.00M	0	0
Total Liabilities	10.83M	11.00M	8.82M	10.42M	2.53M	2.86M
Stockholders Equity	6.92M	7.16M	5.64M	-3.94M	11.83M	26.88M
Cash Flow
Free Cash Flow	-7.19M	-11.74M	-15.09M	-8.30M	-15.40M	-5.91M
Operating Cash Flow	-5.90M	-9.24M	-12.76M	-8.30M	-15.40M	-5.91M
Investing Cash Flow	-2.58M	-2.51M	-3.88M	0	0	300.00K
Financing Cash Flow	8.89M	9.10M	21.48M	-320.00K	250.00K	30.37M

ChargePanel AB Technical Analysis

Technical Analysis SentimentPositive

Last Price2.49

Price Trends

50DMA2.32Positive

100DMA1.99Positive

200DMA1.77Positive

Market Momentum

MACD0.04Positive

RSI53.37Neutral

STOCH52.94Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:CHARGE, the sentiment is Positive. The current price of 2.49 is above the 20-day moving average (MA) of 2.46, above the 50-day MA of 2.32, and above the 200-day MA of 1.77, indicating a bullish trend. The MACD of 0.04 indicates Positive momentum. The RSI at 53.37 is Neutral, neither overbought nor oversold. The STOCH value of 52.94 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:CHARGE.

ChargePanel AB Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

SE:CHARGE against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SE:CLAS.B	70Outperform	SEK 31.53B	24.96	41.64%	1.39%	9.82%	33.55%
SE:OBAB	59Neutral	SEK 572.93M	-79.59	―	―	34.11%	―
SE:CDON	58Neutral	SEK 528.08M	-6.61	―	―	7.12%	8.47%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
SE:ELON	54Neutral	SEK 691.01M	-15.00	―	―	-1.18%	-654.08%
SE:CHARGE	48Neutral	SEK 96.87M	-12.89	―	―	―	―
SE:KJELL	45Neutral	SEK 1.81B	-52.21	-2.25%	―	-2.34%	93.68%

* General Sector Average

Performance Comparison

SE:CHARGE and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
SE:CHARGE	ChargePanel AB	2.49	0.67	36.89%
SE:CLAS.B	Clas Ohlson AB	496.00	160.07	47.65%
SE:KJELL	Kjell Group AB	19.00	10.98	137.00%
SE:ELON	Elon AB	46.50	28.50	158.33%
SE:CDON	CDON AB	46.90	-12.10	-20.51%
SE:OBAB	Online Brands Nordic AB	19.85	6.80	52.11%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 06, 2026

ChargePanel AB AI Stock Analysis