A 
0.93
-0.43%
Close of 9 Nov 2026, in DKK
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At a glance
Figures in DKK, from our data supplier.
Revenue
DKK 230.6m
FY2017FY2026
Net income
−DKK 5.6m
FY2017FY2026
Free cash flow
−DKK 46.7m
FY2017FY2026
Shareholders' equity
DKK 268.6m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | DKK 230.6m | DKK 188.4m | DKK 185.6m | DKK 178.1m | DKK 188.8m | DKK 143.8m | DKK 122.0m | DKK 130.7m | DKK 113.1m | DKK 111.3m |
| Operating income | −DKK 6.0m | −DKK 63.6m | DKK 64.4m | DKK 15.0m | DKK 10.8m | −DKK 23.9m | −DKK 13.8m | DKK 574,000 | −DKK 9.3m | −DKK 9.2m |
| Net income | −DKK 5.6m | −DKK 20.0m | DKK 60.4m | DKK 22.7m | DKK 7.8m | DKK 25.4m | DKK 11.9m | DKK 10.5m | −DKK 9.7m | −DKK 7.3m |
| Diluted earnings per share | -0.01 | -0.04 | 0.13 | 0.05 | 0.02 | 0.07 | 0.03 | 0.03 | -0.03 | -0.02 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | DKK 382.3m | DKK 290.5m | DKK 293.7m | DKK 210.3m | DKK 170.9m | DKK 164.1m | DKK 132.5m | DKK 97.9m | DKK 60.9m | DKK 58.4m |
| Cash and short-term investments | DKK 136.7m | DKK 58.9m | DKK 85.4m | DKK 102.0m | DKK 70.2m | DKK 67.9m | DKK 55.8m | DKK 42.7m | DKK 12.4m | DKK 9.0m |
| Total liabilities | DKK 113.8m | DKK 85.4m | DKK 68.1m | DKK 44.2m | DKK 69.8m | DKK 70.4m | DKK 64.2m | DKK 41.5m | DKK 32.8m | DKK 31.7m |
| Debt | DKK 31.3m | DKK 27.2m | DKK 520,000 | DKK 1.0m | DKK 2.4m | DKK 4.6m | DKK 6.9m | — | — | — |
| Shareholders' equity | DKK 268.6m | DKK 205.3m | DKK 225.7m | DKK 166.3m | DKK 101.3m | DKK 93.5m | DKK 68.1m | DKK 56.2m | DKK 28.2m | DKK 26.7m |
| Shares outstanding | 540m | 496m | 453m | 453m | 378m | 378m | 378m | 378m | 315m | 312m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −DKK 10.4m | −DKK 34.9m | DKK 117,000 | −DKK 9.4m | DKK 44.4m | DKK 3.7m | DKK 17.0m | DKK 12.4m | DKK 1.2m | DKK 6.3m |
| Capital spending | −DKK 36.3m | −DKK 85.5m | −DKK 71.2m | −DKK 30.5m | −DKK 35.4m | −DKK 23.8m | −DKK 16.7m | −DKK 12.5m | −DKK 9.4m | −DKK 17.4m |
| Free cash flow | −DKK 46.7m | −DKK 120.4m | −DKK 71.1m | −DKK 39.8m | DKK 9.0m | −DKK 20.1m | DKK 229,000 | −DKK 59,000 | −DKK 8.1m | −DKK 11.1m |
Latest quarters
By quarter end
| Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sept 2023 | Jun 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | DKK 103.4m | DKK 87.0m | DKK 101.4m | DKK 89.7m | DKK 44.8m | DKK 95.9m | DKK 48.0m | DKK 91.0m |
| Operating income | −DKK 28.1m | −DKK 43.1m | −DKK 20.4m | DKK 41.2m | DKK 20.6m | −DKK 7.2m | −DKK 3.6m | −DKK 5.6m |
| Net income | DKK 11.8m | −DKK 33.7m | DKK 13.7m | −DKK 7.7m | −DKK 3.9m | DKK 68.2m | DKK 34.1m | DKK 9.1m |
| Diluted earnings per share | 0.02 | -0.07 | 0.03 | -0.02 | -0.01 | 0.15 | 0.08 | 0.02 |
| Cash from operations | −DKK 8.0m | −DKK 13.0m | −DKK 21.0m | −DKK 14.0m | −DKK 7.0m | DKK 14.0m | DKK 7.0m | −DKK 5.0m |
| Capital spending | — | −DKK 10.0m | −DKK 29.0m | −DKK 10.0m | −DKK 5.0m | −DKK 15.0m | −DKK 7.0m | −DKK 5.0m |
| Free cash flow | — | −DKK 23.0m | −DKK 50.0m | −DKK 24.0m | −DKK 12.0m | −DKK 1.0m | DKK 0 | −DKK 10.0m |
| Total assets | DKK 383.5m | DKK 290.5m | DKK 343.7m | DKK 293.7m | DKK 293.7m | DKK 293.7m | DKK 293.7m | DKK 210.3m |
| Cash and short-term investments | DKK 145.7m | DKK 58.9m | DKK 70.5m | DKK 85.4m | DKK 85.4m | DKK 96.0m | DKK 96.0m | DKK 102.0m |
| Debt | DKK 3.5m | DKK 818,000 | DKK 891,000 | DKK 520,000 | DKK 520,000 | DKK 520,000 | DKK 520,000 | DKK 520,000 |
| Shareholders' equity | DKK 286.9m | DKK 205.3m | DKK 239.6m | DKK 225.7m | DKK 225.7m | DKK 234.5m | DKK 234.5m | DKK 166.3m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 9.0% | 9.9% | 7.7% |
| Operating income | — | -24.1% | -2.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -16.6% | 1.3% | -0.3% | -2.5% |
| Net margin | -6.1% | 7.4% | 8.1% | 6.0% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -89.3 | -22.9 | 5.1 | 11.9 | 27.1 | 8.1 | 21.7 | 13.5 | -8.6 | -8.2 |
| Price to sales | 2.2 | 2.4 | 1.6 | 1.5 | 1.1 | 1.4 | 2.1 | 1.1 | 0.7 | 0.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 5-for-1 split · 10 Mar 2000
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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