5 
0.77
-17.03%
Close of 9 Nov 2026, in NOK
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in DKK, from our data supplier.
Revenue
DKK 5.2m
FY2016FY2025
Net income
−DKK 2.0m
FY2016FY2025
Free cash flow
−DKK 1.0m
FY2016FY2025
Shareholders' equity
DKK 113.4m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | DKK 5.2m | DKK 12.6m | DKK 10.5m | DKK 11.3m | DKK 4.8m | DKK 2.8m | DKK 2.2m | DKK 6.0m | DKK 3.6m | DKK 5.3m |
| Gross profit | DKK 3.4m | DKK 9.7m | DKK 9.5m | DKK 11.1m | DKK 4.7m | DKK 2.7m | DKK 2.0m | DKK 5.3m | DKK 3.5m | DKK 4.9m |
| Research and development | DKK 593,676 | DKK 553,000 | DKK 183,000 | DKK 164,000 | DKK 4.0m | DKK 10.0m | DKK 9.2m | DKK 11.8m | DKK 8.2m | DKK 3.0m |
| Operating income | −DKK 6.8m | −DKK 6.9m | −DKK 136,000 | −DKK 737,000 | −DKK 6.6m | −DKK 6.2m | −DKK 18.5m | −DKK 22.8m | −DKK 26.1m | −DKK 64.0m |
| Net income | −DKK 2.0m | −DKK 4.9m | DKK 24.5m | −DKK 33.7m | −DKK 16.3m | −DKK 14.2m | −DKK 16.4m | −DKK 43.5m | −DKK 23.5m | −DKK 59.0m |
| Diluted earnings per share | -0.01 | -0.01 | 0.09 | -0.20 | -0.14 | -0.13 | -0.27 | -1,893.22 | -0.89 | -8.52 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | DKK 131.9m | DKK 82.1m | DKK 91.3m | DKK 58.8m | DKK 28.4m | DKK 27.4m | DKK 13.3m | DKK 37.3m | DKK 70.2m | DKK 29.8m |
| Cash and short-term investments | — | DKK 9.7m | DKK 49.3m | DKK 36.3m | DKK 13.6m | DKK 23.7m | DKK 6.3m | DKK 18.9m | DKK 50.2m | DKK 9.2m |
| Total liabilities | DKK 18.5m | DKK 1.4m | DKK 5.9m | DKK 30.0m | DKK 4.9m | DKK 6.5m | DKK 6.3m | DKK 10.7m | DKK 14.2m | DKK 14.8m |
| Debt | — | — | — | — | — | DKK 2.3m | DKK 3.1m | — | DKK 3.1m | DKK 5.1m |
| Shareholders' equity | DKK 113.4m | DKK 80.7m | DKK 85.4m | DKK 28.9m | DKK 23.5m | DKK 20.9m | DKK 7.0m | DKK 26.7m | DKK 56.0m | DKK 15.0m |
| Shares outstanding | 268m | 356m | 268m | 167m | 113m | 106m | 61m | 0m | 26m | 7m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −DKK 1.0m | −DKK 939,000 | DKK 9.7m | DKK 3.7m | −DKK 17.4m | −DKK 7.5m | −DKK 19.7m | −DKK 15.8m | −DKK 16.0m | −DKK 11.2m |
| Capital spending | — | −DKK 41.2m | −DKK 7.4m | −DKK 17.3m | −DKK 6.9m | −DKK 34,000 | −DKK 149,000 | −DKK 15.3m | −DKK 3.1m | −DKK 14.3m |
| Free cash flow | −DKK 1.0m | −DKK 42.2m | DKK 2.4m | −DKK 13.6m | −DKK 24.3m | −DKK 7.5m | −DKK 19.8m | −DKK 31.1m | −DKK 19.2m | −DKK 25.5m |
Latest quarters
By quarter end
| Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | Jun 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | DKK 839,941 | DKK 2.4m | DKK 1.0m | DKK 1.1m | DKK 506,000 | DKK 2.6m | DKK 4.2m | DKK 4.4m |
| Gross profit | DKK 776,909 | DKK 1.3m | DKK 617,129 | DKK 894,178 | DKK 366,000 | DKK 2.0m | DKK 2.0m | DKK 4.4m |
| Operating income | −DKK 2.0m | −DKK 1.1m | −DKK 2.4m | −DKK 1.9m | −DKK 3.1m | −DKK 4.4m | −DKK 1.1m | −DKK 1.1m |
| Net income | DKK 980,664 | −DKK 8.8m | −DKK 4.3m | DKK 12.9m | −DKK 2.3m | −DKK 1.5m | −DKK 3.4m | −DKK 480,804 |
| Diluted earnings per share | 0.00 | -0.03 | -0.02 | 0.05 | -0.01 | -0.00 | -0.01 | -0.00 |
| Cash from operations | −DKK 3.0m | −DKK 1.0m | — | — | — | DKK 2.0m | DKK 4.0m | −DKK 2.0m |
| Capital spending | — | — | — | — | — | −DKK 21.0m | −DKK 20.0m | — |
| Free cash flow | — | — | — | — | — | −DKK 19.0m | −DKK 16.0m | — |
| Total assets | DKK 135.0m | DKK 131.9m | DKK 129.4m | DKK 131.4m | DKK 79.7m | DKK 82.1m | DKK 90.1m | DKK 127.4m |
| Cash and short-term investments | — | — | DKK 18.6m | DKK 12.6m | DKK 9.6m | DKK 9.7m | DKK 25.0m | DKK 63.8m |
| Shareholders' equity | DKK 114.5m | DKK 113.4m | DKK 125.1m | DKK 127.8m | DKK 78.4m | DKK 80.7m | DKK 82.2m | DKK 125.5m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -22.6% | 13.0% | 5.1% |
| Operating income | 109.7% | 1.7% | -14.8% |
| Net income | -60.8% | -32.3% | -23.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 73.2% | 85.1% | 86.9% | 86.8% |
| Operating margin | -77.0% | -36.9% | -58.0% | -285.3% |
| Net margin | -39.1% | -40.7% | -98.7% | -323.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -71.7 | -57.4 | 14.9 | -7.1 | -4.2 | -5.9 | -0.7 | -3.7 | -0.5 | -2.6 |
| Price to sales | 27.7 | 22.5 | 34.8 | 21.2 | 14.1 | 29.7 | 5.5 | 24.1 | 5.0 | 23.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 5-to-1 reverse split · 29 Nov 2017
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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