B 
3.04
+1.67%
Close of 9 Nov 2026, in DKK
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in DKK, from our data supplier.
Revenue
DKK 8.3m
FY2016FY2025
Net income
−DKK 13.8m
FY2016FY2025
Free cash flow
−DKK 10.5m
FY2016FY2025
Shareholders' equity
DKK 17.3m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | DKK 8.3m | DKK 7.2m | DKK 12.3m | DKK 12.4m | DKK 8.4m | DKK 5.5m | DKK 5.7m | DKK 5.4m | — | — |
| Research and development | DKK 1.1m | DKK 1.1m | — | DKK 888,258 | DKK 727,778 | DKK 727,778 | — | — | — | — |
| Operating income | −DKK 12.5m | −DKK 12.6m | −DKK 10.9m | −DKK 13.8m | −DKK 12.7m | −DKK 1.3m | −DKK 387,000 | −DKK 1,570 | DKK 2.4m | DKK 1.9m |
| Net income | −DKK 13.8m | −DKK 13.7m | −DKK 13.1m | −DKK 14.2m | −DKK 13.6m | −DKK 981,705 | −DKK 273,000 | −DKK 1.2m | DKK 2.5m | DKK 1.3m |
| Diluted earnings per share | -0.46 | -0.52 | -0.56 | -0.69 | -0.73 | -0.06 | -0.02 | -0.03 | 0.14 | 0.07 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | DKK 28.1m | DKK 14.7m | DKK 25.5m | DKK 23.2m | DKK 24.5m | DKK 10.7m | DKK 13.6m | DKK 14.7m | DKK 11.1m | DKK 9.1m |
| Cash and short-term investments | DKK 17.9m | DKK 853,450 | DKK 11.8m | DKK 3.6m | DKK 10.4m | DKK 668,479 | DKK 2.5m | DKK 4.4m | DKK 2.7m | DKK 1.8m |
| Total liabilities | DKK 10.8m | DKK 14.0m | DKK 11.1m | DKK 8.9m | DKK 3.5m | DKK 1.7m | DKK 2.8m | DKK 2.7m | DKK 1.8m | DKK 1.9m |
| Debt | DKK 8.2m | DKK 10.8m | DKK 8.4m | DKK 5.9m | DKK 1.6m | DKK 460,105 | DKK 790,000 | DKK 1.0m | — | — |
| Shareholders' equity | DKK 17.3m | DKK 689,233 | DKK 14.4m | DKK 14.3m | DKK 21.1m | DKK 9.0m | DKK 10.8m | DKK 12.0m | DKK 9.3m | DKK 7.2m |
| Shares outstanding | 30m | 26m | 23m | 21m | 18m | 17m | 16m | 38m | 18m | 18m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −DKK 10.5m | −DKK 12.6m | −DKK 8.2m | −DKK 17.1m | −DKK 13.2m | −DKK 71,835 | −DKK 2.0m | — | — | — |
| Capital spending | −DKK 4 | −DKK 335,146 | −DKK 540,552 | −DKK 757,488 | −DKK 2.2m | −DKK 5 | −DKK 65,000 | — | — | — |
| Free cash flow | −DKK 10.5m | −DKK 13.0m | −DKK 8.7m | −DKK 17.9m | −DKK 15.4m | −DKK 71,840 | −DKK 2.0m | — | — | — |
| Dividends paid | — | — | — | — | — | −DKK 1.5m | — | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | DKK 2.7m | DKK 2.7m | DKK 2.1m | DKK 2.1m | DKK 4.1m | DKK 4.1m | DKK 3.0m | DKK 6.0m |
| Operating income | −DKK 2.2m | −DKK 2.2m | −DKK 3.1m | −DKK 3.1m | −DKK 6.4m | −DKK 5.5m | −DKK 7.1m | −DKK 5.1m |
| Net income | −DKK 2.4m | −DKK 2.4m | −DKK 3.4m | −DKK 3.4m | −DKK 6.9m | −DKK 6.1m | −DKK 7.6m | −DKK 6.9m |
| Diluted earnings per share | -0.06 | -0.06 | -0.11 | -0.11 | -0.24 | -0.23 | -0.29 | -0.33 |
| Cash from operations | −DKK 2.0m | −DKK 2.0m | −DKK 2.0m | −DKK 2.0m | — | — | — | — |
| Total assets | DKK 22.2m | DKK 22.2m | DKK 28.1m | DKK 28.1m | DKK 18.7m | DKK 14.7m | DKK 16.8m | DKK 25.5m |
| Cash and short-term investments | DKK 11.9m | DKK 11.9m | DKK 17.9m | DKK 17.9m | DKK 7.8m | DKK 853,450 | DKK 4.3m | DKK 11.8m |
| Debt | DKK 7.5m | DKK 1.5m | DKK 8.5m | DKK 1.7m | DKK 9.4m | DKK 11.3m | DKK 9.4m | DKK 8.8m |
| Shareholders' equity | DKK 12.5m | DKK 12.5m | DKK 17.3m | DKK 17.3m | DKK 8.0m | DKK 689,233 | DKK 6.8m | DKK 14.4m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -12.4% | 8.7% | — |
| Operating income | -3.2% | 57.4% | — |
| Net income | -0.8% | 69.7% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -162.4% | -124.2% | -118.2% | — |
| Net margin | -177.9% | -136.5% | -128.4% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | -7.2 | -5.8 | -2.3 | -5.0 | -6.4 |
| Price to sales | 12.0 | 11.1 | 2.5 | 5.7 | 10.4 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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