S 
8.66
-2.04%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
—
FY2016FY2025
Net income
−€29.4m
FY2016FY2025
Free cash flow
−€27.6m
FY2016FY2025
Shareholders' equity
€44.5m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | €6.7m | €5.7m | €4.9m | €4.3m | €2.4m | €2.5m | €2.2m | €1.9m | €17,500 |
| Research and development | €28.8m | €25.7m | €22.8m | €22.3m | €14.2m | €7.4m | €9.9m | €11.9m | €7.9m | €5.7m |
| Operating income | −€36.6m | −€28.4m | −€22.3m | −€28.1m | −€19.4m | −€11.3m | −€11.0m | −€12.3m | −€9.6m | −€9.1m |
| Net income | −€29.4m | −€26.0m | −€22.1m | −€23.2m | −€15.1m | −€9.0m | −€12.1m | −€12.4m | −€9.7m | −€7.4m |
| Diluted earnings per share | -4.89 | -4.28 | -0.12 | -0.29 | -0.19 | -0.12 | -0.46 | -0.95 | -1.29 | -1.02 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €57.9m | €89.3m | €46.5m | €38.9m | €59.0m | €67.9m | €38.1m | €9.5m | €11.2m | €11.9m |
| Cash and short-term investments | €47.5m | €77.0m | €37.0m | €26.2m | €50.0m | €62.2m | €30.4m | €2.7m | €7.6m | €8.5m |
| Total liabilities | €13.4m | €17.1m | €13.2m | €17.1m | €15.0m | €9.5m | €24.9m | €6.0m | €3.8m | €3.3m |
| Debt | €1.3m | €2.2m | €2.9m | €3.8m | €4.0m | €3.9m | €21.0m | €10,873 | €374,000 | €975,350 |
| Shareholders' equity | €44.5m | €72.1m | €33.3m | €21.9m | €44.0m | €58.3m | €13.2m | €3.5m | €7.3m | €8.6m |
| Shares outstanding | 6m | 6m | 187m | 80m | 80m | 73m | 26m | 13m | 7m | 7m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −€27.4m | −€21.3m | −€21.1m | −€21.4m | −€10.8m | −€5.3m | −€14.2m | −€12.2m | −€7.8m | −€7.2m |
| Capital spending | −€253,000 | −€1.1m | −€868,726 | −€1.5m | −€1.0m | −€164,927 | −€74,499 | −€14,594 | −€165,898 | −€533,139 |
| Free cash flow | −€27.6m | −€22.5m | −€21.9m | −€22.9m | −€11.8m | −€5.5m | −€14.2m | −€12.3m | −€7.9m | −€7.7m |
| Dividends paid | — | — | — | — | −€123,958 | −€97,579 | — | −€8.0m | −€6.7m | −€378,599 |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | €2.3m | €3.5m | €3.1m | €3.0m | €2.6m | €3.0m |
| Operating income | −€24.1m | −€19.8m | −€16.8m | −€28.5m | €119,000 | −€10.1m | −€14.8m | −€14.0m |
| Net income | −€20.7m | −€13.4m | −€16.0m | −€12.1m | −€13.9m | −€9.8m | −€12.3m | −€10.9m |
| Diluted earnings per share | -2.01 | -2.23 | -2.66 | -1.99 | -2.29 | -0.05 | -0.07 | -0.14 |
| Cash from operations | −€17.0m | −€8.0m | −€18.0m | −€9.0m | −€11.0m | −€10.0m | −€10.0m | −€11.0m |
| Capital spending | — | — | — | — | — | — | — | −€1.0m |
| Free cash flow | — | — | — | — | — | — | — | −€12.0m |
| Total assets | €100.8m | €57.9m | €73.3m | €89.3m | €101.5m | €46.5m | €27.5m | €38.9m |
| Cash and short-term investments | €88.5m | €47.5m | €57.1m | €77.0m | €87.3m | €37.0m | €14.4m | €26.2m |
| Debt | €829,000 | €1.3m | €2.0m | €2.2m | €2.4m | €2.9m | €3.2m | €3.8m |
| Shareholders' equity | €81.6m | €44.5m | €57.0m | €72.1m | €83.5m | €33.3m | €9.9m | €21.9m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Operating income | 9.2% | 26.5% | 21.3% |
| Net income | 8.2% | 26.8% | 21.3% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -3.5 | -7.4 | -182.3 | -63.7 | -293.8 | -351.1 | -52.9 | -14.5 | -24.3 | -40.2 |
| Price to sales | — | 29.0 | — | 299.5 | — | — | 260.3 | 80.2 | 121.7 | — |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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