Candela shares
Unlisted company
Candela is a technology company that develops, manufactures and sells electric hydrofoil vessels for private and commercial use. The business model is vertically integrated and encompasses most of the value chain, including proprietary hydrofoil control software, the C-POD electric propulsion system, and carbon-fibre hull production. Production takes place at the company’s own facilities in the Stockholm area.
Two product lines
The business is divided into two product lines. The C-8 leisure boat is aimed at private individuals and is sold internationally through a network of dealers, complemented by the company’s own sales offices in selected key markets. The P-12 hydrofoil ferry is intended for public transport and commercial passenger transport and is sold directly to transport operators, municipalities, and other public or private entities, primarily in the European market but also in selected international markets.
How the company makes money
Revenue is generated through sales of finished vessels in the two product lines, complemented by aftermarket and service revenue. The hydrofoil technology makes the vessels unaffected by waves and wake-free, enabling high speeds on urban waterways without the speed restrictions normally imposed due to vessel wakes.
Financing and growth
The company has been financed through several funding rounds, with an ownership base comprising both industrial and institutional investors, including venture capital and development finance investors. The growth strategy is based on the gradual industrialisation of production and economies of scale at the company’s own production facilities as a path to lower unit costs. The strategy going forward also includes evaluating licensing models to establish hydrofoil technology as a broader standard in electric shipping.
Products and technology
Vertically integrated manufacturing
Proprietary software, C-POD, and carbon-fibre hulls
Two product lines: C-8 and P-12
Unaffected by waves and wake-free operation
Market and growth
In-house production in the Stockholm area
Dealers for C-8, direct sales for P-12
Industrial and institutional owners
Industrialisation and potential licensing
Financial performance
Published 8 October 2026Published figures from the company’s own reports. Amounts in MSEK · change from the previous year
- Cash and bank 2024-12-31
- 124MSEK
- Burn rate
- 20MSEK/mo
- Runway
- 6mo
- Equity ratio
- 65.3%
| Metric | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|
| Net sales | 125(+74.5 %) | 72(+541.7 %) | 11(-44.1 %) | 20(-37.5 %) |
| Revenue growth | 74.5%(-467.1 pp) | 541.7%(+585.7 pp) | -44.1%(-6.5 pp) | -37.5% |
| Gross margin | – | – | 0% | 0%(-6.6 pp) |
| EBITDA | – | -198 | – | – |
| EBIT | -238 | -242 | -102 | -51 |
| Net income | -233 | -240 | -100 | -50 |
| Equity | 329(+85.3 %) | 178(+18.9 %) | 149(-38.5 %) | 243(+168.1 %) |
| Cash and bank | 124(+169.2 %) | 46(-30.4 %) | 66(-70 %) | 220(+225.5 %) |
| Operating cash flow | -244 | -210 | -0.1 | -21 |
| Equity ratio | 65.3%(+13.5 pp) | 51.8%(+5.3 pp) | 46.5%(-37.1 pp) | 83.6%(+5.5 pp) |
Documents and reports
4New share issues
Latest 1An overview of the company’s capital raising.
| Date | Capital raised | Valuation |
|---|---|---|
| SEK 87m | SEK 2bn |
Questions about Candela
Is Candela publicly listed?
No, Candela is a private limited company and is not publicly listed. The company has not completed an IPO, so its shares are not traded on a regulated stock exchange, but through the unlisted market.
What does Candela do?
Candela is a Swedish technology company operating in electric maritime transport. The company develops and manufactures hydrofoil vessels for private and commercial use, including the C-8 leisure boat and the P-12 hydrofoil ferry for public transit and passenger transport.
Can I buy shares in Candela?
Yes, it is possible to buy Candela shares through trading in unlisted shares, provided there are sellers. Through Eqvor, you can place a buy order and be matched with sellers in the unlisted market.
How do I sell shares in Candela?
If you own shares in Candela, you can place a sell order via Eqvor and be matched with buyers. When a buyer and seller are matched, the transaction is completed and the change of ownership is recorded in the company’s share register in accordance with the company’s applicable procedures.
Is Candela affiliated with Euroclear?
No, Candela is currently not affiliated with Euroclear. This means that the shares are registered directly in the company’s share register rather than through the Swedish securities system.
Can I hold Candela shares with Avanza or Nordnet?
Since Candela is not affiliated with Euroclear, the shares normally cannot be held in a regular securities account with Avanza or Nordnet. Instead, ownership is registered directly in the company’s share register.
Does Candela have rights of first refusal or pre-emption clauses?
Yes, Candela has rights of first refusal or pre-emption rights. This means that share transfers may need to be handled in accordance with specific terms before the shares are sold on to an external buyer.
At what price is Candela's stock traded?
Since Candela is unlisted, there is no official share price on a regulated marketplace. Instead, the price is determined by supply and demand between buyers and sellers in the unlisted market.
When will Candela be listed on a stock exchange?
There is currently no publicly announced timeline for Candela to be listed on a stock exchange. We therefore do not know when Candela may be listed or whether the company will carry out an IPO.
What are the risks of investing in Candela?
Investing in Candela involves risk, just like other investments in unlisted shares. The company’s value may be affected by production, order levels, capital requirements, competition, technological developments, and demand for electric hydrofoil vessels. Trading in unlisted shares also normally involves lower liquidity than trading in listed shares.
Where can I find Candela's annual report?
Candela's annual report can be found under Investor Relations and Financial Reports. The company's annual reports are available there for download.
Has Candela carried out any share issues?
Yes, Candela has carried out capital raises and previous new share issues. Candela’s Capital raised is stated as SEK 1.2 billion, indicating how much capital the company has raised through previous financing.
How much capital has Candela raised in total?
Candela's capital raised is stated as SEK 1.2 billion. An equity raise is the raising of capital through the issuance of equity, while Swedish commonly uses terms equivalent to funding round, financing, or new share issue.
Has Candela reported a profit or a loss?
Candela reports a negative result in the latest available information. Under Key figures, EBITDA is stated as -210 360 TSEK and net income as -233 082 TSEK. The company’s earnings trend is also shown in the Results per year chart.