A
0.20
-3.32%
Close of 9 Nov 2026, in SEK
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At a glance
Figures in SEK, from our data supplier.
Revenue
SEK 10.6m
FY2016FY2025
Net income
−SEK 5.9m
FY2016FY2025
Free cash flow
−SEK 5.7m
FY2016FY2025
Shareholders' equity
SEK 77.7m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 10.6m | SEK 3.0m | SEK 1.6m | SEK 2.0m | SEK 3.0m | SEK 4.0m | SEK 2.1m | SEK 3.1m | SEK 2.2m | — |
| Research and development | — | — | SEK 1.4m | SEK 1.6m | SEK 1.9m | SEK 1.7m | SEK 1.1m | SEK 673,000 | SEK 336,000 | — |
| Operating income | −SEK 6.4m | −SEK 5.8m | −SEK 16.5m | −SEK 17.9m | −SEK 18.3m | −SEK 19.9m | −SEK 26.0m | −SEK 18.2m | −SEK 7.8m | −SEK 2.5m |
| Net income | −SEK 5.9m | −SEK 18.0m | −SEK 16.4m | −SEK 20.4m | −SEK 18.3m | −SEK 19.9m | −SEK 26.0m | −SEK 18.2m | −SEK 7.7m | −SEK 2.5m |
| Diluted earnings per share | -0.02 | -0.09 | -0.12 | -0.17 | -0.34 | -0.60 | -0.78 | -0.55 | -0.23 | -0.01 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SEK 80.5m | SEK 74.0m | SEK 29.5m | SEK 27.0m | SEK 23.9m | SEK 44.5m | SEK 40.6m | SEK 65.8m | SEK 18.5m | SEK 25.0m |
| Cash and short-term investments | SEK 12.6m | SEK 7.3m | SEK 17.0m | SEK 17.0m | SEK 12.9m | SEK 23.5m | SEK 20.2m | SEK 48.9m | SEK 4.0m | SEK 16.1m |
| Total liabilities | SEK 2.7m | SEK 1.3m | SEK 1.3m | SEK 2.4m | SEK 2.5m | SEK 4.8m | SEK 3.9m | SEK 3.4m | SEK 2.6m | SEK 349,000 |
| Debt | — | — | SEK 922,000 | — | — | — | — | — | — | — |
| Shareholders' equity | SEK 77.7m | SEK 72.7m | SEK 21.7m | SEK 24.6m | SEK 21.4m | SEK 39.8m | SEK 36.7m | SEK 62.5m | SEK 15.9m | SEK 24.7m |
| Shares outstanding | 296m | 208m | 143m | 118m | 54m | 33m | 33m | 33m | 33m | 317m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −SEK 4.3m | −SEK 6.1m | −SEK 12.4m | −SEK 14.2m | −SEK 12.5m | −SEK 15.4m | −SEK 22.1m | −SEK 15.7m | −SEK 5.8m | — |
| Capital spending | −SEK 1.4m | −SEK 5.3m | −SEK 158,000 | −SEK 3.3m | −SEK 1.1m | −SEK 1.3m | −SEK 6.8m | −SEK 5.2m | −SEK 4.7m | — |
| Free cash flow | −SEK 5.7m | −SEK 11.4m | −SEK 12.6m | −SEK 17.4m | −SEK 13.6m | −SEK 16.7m | −SEK 28.9m | −SEK 20.8m | −SEK 10.5m | — |
| Dividends paid | — | −SEK 12.3m | −SEK 10.0m | — | — | — | — | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 1.0m | SEK 1.5m | SEK 1.9m | SEK 3.9m | SEK 2.2m | SEK 2.5m | SEK 256,000 | SEK 2.1m |
| Operating income | −SEK 2.9m | −SEK 2.0m | −SEK 1.5m | −SEK 1.1m | −SEK 2.2m | −SEK 1.4m | −SEK 3.5m | −SEK 5.9m |
| Net income | −SEK 2.8m | −SEK 2.0m | −SEK 1.5m | −SEK 813,000 | −SEK 2.2m | −SEK 1.5m | −SEK 3.4m | −SEK 6.0m |
| Diluted earnings per share | -0.01 | -0.01 | -0.00 | -0.00 | -0.01 | -0.01 | -0.02 | -0.03 |
| Cash from operations | −SEK 3.0m | −SEK 1.0m | −SEK 1.0m | — | — | −SEK 1.0m | −SEK 3.0m | −SEK 5.0m |
| Capital spending | −SEK 1.0m | −SEK 1.0m | — | — | — | — | −SEK 5.0m | — |
| Free cash flow | −SEK 4.0m | −SEK 2.0m | — | — | — | — | −SEK 8.0m | — |
| Total assets | SEK 82.6m | SEK 85.4m | SEK 80.5m | SEK 83.2m | SEK 73.0m | SEK 73.6m | SEK 74.0m | SEK 13.2m |
| Cash and short-term investments | SEK 13.8m | SEK 18.0m | SEK 12.6m | SEK 14.7m | SEK 5.3m | SEK 5.3m | SEK 7.3m | SEK 3.7m |
| Debt | — | — | — | — | — | — | — | SEK 584,000 |
| Shareholders' equity | SEK 80.0m | SEK 82.9m | SEK 77.7m | SEK 79.2m | SEK 69.8m | SEK 71.2m | SEK 72.7m | SEK 8.6m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 73.2% | 21.6% | — |
| Operating income | -28.8% | -20.2% | 5.5% |
| Net income | -33.7% | -21.5% | 4.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -90.3% | -270.2% | -350.4% | — |
| Net margin | -176.4% | -352.1% | -408.8% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Price to earnings | -15.0 | -3.1 | -3.1 | -3.6 | -2.5 | -2.1 | -2.5 | -7.2 |
| Price to sales | 8.4 | 18.9 | 30.6 | 35.9 | 15.4 | 10.6 | 30.1 | 41.6 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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