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0.18
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Close of 9 Nov 2026, in SEK
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At a glance
Figures in SEK, from our data supplier.
Revenue
SEK 26.1m
FY2016FY2025
Net income
−SEK 6.1m
FY2016FY2025
Free cash flow
−SEK 2.4m
FY2016FY2025
Shareholders' equity
−SEK 6.4m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 26.1m | SEK 23.9m | SEK 23.9m | SEK 19.9m | SEK 23.0m | SEK 24.9m | SEK 25.9m | SEK 20.8m | SEK 19.3m | SEK 5.5m |
| Research and development | — | — | SEK 963,000 | SEK 963,000 | SEK 963,000 | SEK 964,000 | SEK 240,000 | SEK 102,000 | SEK 97,000 | — |
| Operating income | −SEK 5.3m | −SEK 9.2m | −SEK 9.5m | −SEK 14.2m | −SEK 13.9m | −SEK 14.0m | −SEK 14.9m | −SEK 20.6m | −SEK 30.9m | −SEK 6.0m |
| Net income | −SEK 6.1m | −SEK 9.9m | −SEK 10.7m | −SEK 15.0m | −SEK 15.2m | −SEK 13.2m | −SEK 15.3m | −SEK 22.0m | −SEK 31.8m | −SEK 6.0m |
| Diluted earnings per share | -0.03 | -0.05 | -0.08 | -0.31 | -0.57 | -0.50 | -0.84 | -1.21 | -4.75 | -0.90 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SEK 9.7m | SEK 9.9m | SEK 13.5m | SEK 17.3m | SEK 19.0m | SEK 33.4m | SEK 29.4m | SEK 38.1m | SEK 31.4m | SEK 63.3m |
| Cash and short-term investments | SEK 5.8m | SEK 741,000 | SEK 1.4m | SEK 2.2m | SEK 453,000 | SEK 9.0m | SEK 3.0m | SEK 11.5m | SEK 9.3m | SEK 38.9m |
| Total liabilities | SEK 16.1m | SEK 10.3m | SEK 14.4m | SEK 19.6m | SEK 16.4m | SEK 17.4m | SEK 14.9m | SEK 8.2m | SEK 9.4m | SEK 10.0m |
| Debt | SEK 8.3m | SEK 170,000 | SEK 164,000 | SEK 659,000 | SEK 1.1m | SEK 1.5m | SEK 367,000 | SEK 1.1m | SEK 895,000 | SEK 1.2m |
| Shareholders' equity | −SEK 6.4m | −SEK 458,000 | −SEK 851,000 | −SEK 2.2m | SEK 2.6m | SEK 16.0m | SEK 14.5m | SEK 29.9m | SEK 22.0m | SEK 53.3m |
| Shares outstanding | 205m | 205m | 126m | 49m | 27m | 27m | 18m | 18m | 7m | 7m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −SEK 2.4m | −SEK 4.5m | −SEK 6.3m | −SEK 12.9m | −SEK 8.1m | −SEK 12.1m | −SEK 10.8m | −SEK 16.3m | −SEK 25.9m | −SEK 3.0m |
| Capital spending | — | — | — | — | — | — | −SEK 705,000 | −SEK 4.9m | −SEK 1.4m | −SEK 234,000 |
| Free cash flow | −SEK 2.4m | −SEK 4.5m | −SEK 6.3m | −SEK 12.9m | −SEK 8.1m | −SEK 12.1m | −SEK 11.5m | −SEK 21.1m | −SEK 27.3m | −SEK 3.2m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 6.7m | SEK 5.5m | SEK 5.4m | SEK 5.8m | SEK 7.5m | SEK 7.4m | SEK 6.0m | SEK 5.7m |
| Operating income | −SEK 2.4m | −SEK 2.0m | −SEK 3.5m | −SEK 1.0m | −SEK 341,000 | −SEK 420,000 | −SEK 3.2m | −SEK 1.3m |
| Net income | −SEK 2.6m | −SEK 2.2m | −SEK 3.7m | −SEK 1.3m | −SEK 587,000 | −SEK 554,000 | −SEK 3.5m | −SEK 1.5m |
| Diluted earnings per share | -0.01 | -0.01 | -0.02 | -0.01 | -0.00 | -0.00 | -0.02 | -0.01 |
| Cash from operations | −SEK 2.0m | −SEK 2.0m | −SEK 1.0m | — | −SEK 1.0m | — | — | −SEK 2.0m |
| Total assets | SEK 4.9m | SEK 8.0m | SEK 9.7m | SEK 6.8m | SEK 7.4m | SEK 7.2m | SEK 9.9m | SEK 9.8m |
| Cash and short-term investments | SEK 1.9m | SEK 3.8m | SEK 5.8m | SEK 790,000 | SEK 834,000 | SEK 1.1m | SEK 741,000 | SEK 1.5m |
| Debt | — | — | SEK 78.4m | SEK 829,000 | SEK 836,000 | — | — | SEK 167,000 |
| Shareholders' equity | −SEK 11.3m | −SEK 8.7m | −SEK 6.4m | −SEK 2.8m | −SEK 1.5m | −SEK 902,000 | −SEK 458,000 | −SEK 841,000 |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 9.5% | 0.9% | 1.6% |
| Operating income | -28.2% | -17.8% | — |
| Net income | -25.8% | -14.2% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -28.9% | -40.6% | -46.5% | -58.1% |
| Net margin | -32.0% | -44.4% | -49.4% | -61.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -5.7 | -2.1 | -1.1 | -1.2 | -0.3 | -0.9 | -1.3 | -0.3 | -0.2 | -4.8 |
| Price to sales | 1.3 | 0.8 | 0.5 | 0.9 | 0.2 | 0.5 | 0.7 | 0.3 | 0.3 | 5.3 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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