A 
2.55
+6.69%
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 NOK, from our data supplier.
Revenue
NOK 40.1m
FY2018FY2025
Net income
−NOK 41.0m
FY2018FY2025
Free cash flow
−NOK 45.4m
FY2018FY2025
Shareholders' equity
NOK 173.5m
FY2018FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | NOK 40.1m | NOK 43.5m | NOK 33.8m | NOK 34.3m | NOK 21.5m | NOK 20.5m | NOK 30.0m | NOK 24.8m |
| Research and development | — | NOK 2.3m | NOK 2.6m | — | — | — | NOK 111,088 | NOK 197,023 |
| Operating income | −NOK 33.4m | −NOK 47.8m | −NOK 48.6m | −NOK 37.4m | NOK 40.6m | −NOK 21.7m | −NOK 3.1m | −NOK 1.1m |
| Net income | −NOK 41.0m | −NOK 47.9m | −NOK 45.5m | −NOK 34.0m | −NOK 42.6m | −NOK 22.6m | −NOK 4.0m | −NOK 1.7m |
| Diluted earnings per share | -1.54 | -1.88 | -1.80 | -1.39 | -1.75 | -0.93 | -0.15 | -0.06 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Total assets | NOK 284.7m | NOK 279.7m | NOK 300.3m | NOK 327.7m | NOK 341.5m | NOK 93.2m | NOK 82.5m | NOK 45.4m |
| Cash and short-term investments | — | NOK 2.2m | NOK 79.6m | NOK 144.2m | NOK 227.4m | NOK 12.6m | NOK 23.4m | NOK 368,783 |
| Total liabilities | NOK 111.2m | NOK 69.0m | NOK 41.7m | NOK 40.4m | NOK 20.9m | NOK 29.3m | NOK 18.6m | NOK 23.5m |
| Debt | NOK 27.4m | NOK 32.9m | NOK 2.0m | NOK 1.1m | NOK 4,185 | NOK 8.5m | NOK 7.2m | NOK 12.1m |
| Shareholders' equity | NOK 173.5m | NOK 210.7m | NOK 258.6m | NOK 287.3m | NOK 320.6m | NOK 63.9m | NOK 63.9m | NOK 21.9m |
| Shares outstanding | 27m | 25m | 25m | 24m | 24m | 24m | 27m | 27m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | −NOK 22.7m | −NOK 45.4m | −NOK 40.3m | −NOK 25.4m | −NOK 39.5m | −NOK 21.9m | NOK 2.2m | — |
| Capital spending | −NOK 22.7m | −NOK 50.8m | −NOK 45.3m | −NOK 58.6m | −NOK 36.5m | −NOK 13.4m | −NOK 13.4m | — |
| Free cash flow | −NOK 45.4m | −NOK 96.2m | −NOK 85.6m | −NOK 84.0m | −NOK 76.0m | −NOK 35.3m | −NOK 11.3m | — |
Latest quarters
By quarter end
| Jun 2025 | Dec 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sept 2023 | Jun 2023 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | NOK 18.7m | NOK 27.2m | NOK 17.2m | NOK 8.6m | NOK 14.7m | NOK 7.3m | NOK 19.1m | NOK 7.8m |
| Operating income | −NOK 16.2m | −NOK 23.6m | −NOK 24.2m | −NOK 12.1m | −NOK 26.0m | −NOK 13.0m | −NOK 22.6m | NOK 1.2m |
| Net income | −NOK 18.9m | −NOK 24.4m | −NOK 23.5m | −NOK 11.8m | −NOK 24.9m | −NOK 12.4m | −NOK 20.7m | — |
| Diluted earnings per share | -0.71 | -0.96 | -0.92 | -0.46 | -0.98 | -0.49 | -0.82 | — |
| Cash from operations | −NOK 21.0m | −NOK 19.0m | −NOK 25.0m | −NOK 12.0m | −NOK 12.0m | −NOK 6.0m | −NOK 27.0m | — |
| Capital spending | — | −NOK 50.0m | — | — | −NOK 21.0m | −NOK 10.0m | −NOK 23.0m | — |
| Free cash flow | — | −NOK 69.0m | — | — | −NOK 33.0m | −NOK 16.0m | −NOK 50.0m | — |
| Total assets | NOK 290.3m | NOK 279.7m | NOK 273.2m | — | NOK 300.3m | — | NOK 321.5m | — |
| Cash and short-term investments | NOK 2.5m | NOK 2.2m | NOK 19.8m | — | NOK 78.5m | — | NOK 113.8m | NOK 130.6m |
| Debt | NOK 39.0m | NOK 31.4m | NOK 1.8m | — | NOK 5.6m | — | NOK 4.2m | — |
| Shareholders' equity | NOK 195.3m | NOK 210.7m | NOK 235.1m | — | NOK 258.6m | — | NOK 283.4m | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -5.2% | 9.3% | — |
| Operating income | -3.6% | 9.1% | — |
| Net income | 6.4% | 12.7% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -97.2% | -110.3% | -76.6% | — |
| Net margin | -106.4% | -111.1% | -120.7% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | -2.1 | -1.0 | -1.3 | -1.9 | -2.3 |
| Price to sales | 2.9 | 1.1 | 1.8 | 1.8 | 5.0 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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