B 
0.82
-1.45%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€95.2m
FY2016FY2025
Net income
−€58.2m
FY2016FY2025
Free cash flow
−€8.6m
FY2016FY2025
Shareholders' equity
€32.4m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €95.2m | €101.2m | €93.0m | €196.6m | €382.5m | €153.9m | €34.2m | €31.3m | €30.6m | €27.1m |
| Research and development | — | — | €3.9m | €2.9m | — | — | — | — | €243,000 | €125,881 |
| Operating income | −€4.7m | −€21.1m | −€37.4m | €38.9m | €140.7m | €45.7m | €1.1m | €371,759 | €921,857 | €801,191 |
| Net income | −€58.2m | −€43.3m | −€36.9m | €15.7m | €104.0m | €31.4m | €1.1m | €542,894 | €315,221 | −€120,095 |
| Diluted earnings per share | -3.10 | -3.34 | -3.23 | 1.52 | 9.65 | 2.99 | 0.12 | 0.06 | 0.03 | -0.01 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €136.2m | €194.7m | €241.7m | €260.0m | €268.9m | €126.1m | €47.3m | €39.5m | €40.5m | €39.5m |
| Cash and short-term investments | €8.5m | €9.7m | €26.2m | €87.2m | €132.0m | €36.8m | €2.5m | €2.0m | €2.0m | €599,216 |
| Total liabilities | €101.3m | €114.2m | €117.4m | €93.2m | €101.1m | €59.8m | €17.0m | €10.2m | €11.6m | €15.1m |
| Debt | €61.6m | €62.5m | €65.6m | €52.1m | €35.3m | €15.8m | €11.4m | €5.2m | €5.9m | €6.9m |
| Shareholders' equity | €32.4m | €80.6m | €124.5m | €162.4m | €167.8m | €66.3m | €30.4m | €29.3m | €28.9m | €24.4m |
| Shares outstanding | 19m | 13m | 11m | 10m | 11m | 10m | 9m | 9m | 10m | 10m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −€5.9m | −€10.1m | −€9.7m | €4.9m | €109.8m | €31.6m | €1.1m | €467,116 | €484,825 | €489,906 |
| Capital spending | −€2.7m | −€4.8m | −€39.5m | −€30.1m | −€19.0m | −€9.1m | −€9.1m | −€9.1m | −€9.1m | — |
| Free cash flow | −€8.6m | −€15.0m | −€49.2m | −€25.1m | €90.8m | €22.5m | −€8.0m | −€8.7m | −€8.6m | €489,906 |
| Dividends paid | — | — | — | −€20.4m | −€22.3m | −€1.9m | −€1.9m | −€1.9m | — | — |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €45.3m | €44.7m | €50.5m | €47.5m | €53.7m | €50.3m | €42.7m | €54.3m |
| Operating income | −€1.6m | −€3.9m | −€800,000 | −€10.0m | −€11.1m | −€37.4m | −€17.8m | −€8.1m |
| Net income | −€4.2m | −€9.6m | −€48.6m | −€22.3m | −€21.0m | −€17.6m | −€19.4m | −€15.0m |
| Diluted earnings per share | -0.22 | -0.51 | -2.59 | -1.72 | -1.62 | -1.54 | -1.70 | -1.45 |
| Cash from operations | — | €1.0m | −€7.0m | €1.0m | −€11.0m | — | −€10.0m | −€1.0m |
| Capital spending | — | −€1.0m | −€1.0m | −€2.0m | −€2.0m | −€7.0m | −€31.0m | −€10.0m |
| Free cash flow | — | €0 | −€8.0m | −€1.0m | −€13.0m | — | −€41.0m | −€11.0m |
| Total assets | — | €136.2m | €149.4m | €194.7m | €208.8m | €241.7m | €272.2m | €260.0m |
| Cash and short-term investments | — | €8.5m | €9.8m | €9.7m | €10.7m | €26.2m | €45.3m | €87.2m |
| Debt | — | €61.6m | €13.9m | €62.3m | €64.6m | €65.6m | €69.9m | €52.1m |
| Shareholders' equity | — | €32.4m | €44.3m | €80.6m | €103.2m | €124.5m | €137.0m | €162.4m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -21.5% | -9.2% | 25.0% |
| Operating income | — | — | 22.6% |
| Net income | — | — | 66.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -13.1% | -5.0% | 15.8% | 14.2% |
| Net margin | -51.7% | -25.3% | 1.2% | 1.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -0.2 | -0.3 | -1.3 | 4.6 | 1.4 | 2.8 | 11.0 | 21.4 | 54.8 | -92.7 |
| Price to sales | 0.1 | 0.1 | 0.5 | 0.4 | 0.4 | 0.6 | 0.3 | 0.4 | 0.6 | 0.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 16 May 2022.
| FY2022 | FY2021 | |
|---|---|---|
| Paid in the year | 0.02 | 0.20 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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