B 
4.04
-3.58%
Close of 9 Nov 2026, in SEK
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in SEK, from our data supplier.
Revenue
SEK 168.6m
FY2016FY2025
Net income
−SEK 60.6m
FY2016FY2025
Free cash flow
−SEK 47.4m
FY2016FY2025
Shareholders' equity
SEK 161.4m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 168.6m | SEK 167.8m | SEK 157.6m | SEK 132.2m | SEK 120.3m | SEK 136.7m | SEK 134.1m | SEK 114.2m | SEK 82.6m | SEK 33.4m |
| Research and development | — | SEK 3.4m | SEK 3.8m | SEK 3.5m | SEK 4.5m | SEK 3.5m | SEK 3.2m | SEK 1.6m | — | — |
| Operating income | −SEK 65.2m | −SEK 24.2m | −SEK 31.0m | −SEK 64.6m | −SEK 81.7m | −SEK 82.0m | −SEK 132.6m | −SEK 92.3m | −SEK 50.4m | −SEK 40.6m |
| Net income | −SEK 60.6m | −SEK 12.7m | −SEK 17.5m | −SEK 63.4m | −SEK 81.3m | −SEK 82.5m | −SEK 127.6m | −SEK 93.1m | −SEK 51.5m | −SEK 39.7m |
| Diluted earnings per share | -0.41 | -0.09 | -0.12 | -0.45 | -0.58 | -0.65 | -1.06 | -0.76 | -0.50 | -0.45 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SEK 266.1m | SEK 299.8m | SEK 306.2m | SEK 341.5m | SEK 377.9m | SEK 477.0m | SEK 271.0m | SEK 374.7m | SEK 185.0m | SEK 40.1m |
| Cash and short-term investments | SEK 153.6m | SEK 203.2m | SEK 217.9m | SEK 240.3m | SEK 307.2m | SEK 393.4m | SEK 142.3m | SEK 288.7m | SEK 113.1m | SEK 13.9m |
| Total liabilities | SEK 104.6m | SEK 105.8m | SEK 99.1m | SEK 99.1m | SEK 95.9m | SEK 116.2m | SEK 118.8m | SEK 95.2m | SEK 56.3m | SEK 28.0m |
| Debt | SEK 1.3m | SEK 2.6m | SEK 3.8m | SEK 813,000 | SEK 953,000 | SEK 7.8m | SEK 3.5m | SEK 393,000 | −SEK 45,000 | −SEK 74,000 |
| Shareholders' equity | SEK 161.4m | SEK 194.0m | SEK 207.0m | SEK 225.1m | SEK 282.1m | SEK 360.8m | SEK 152.2m | SEK 279.5m | SEK 128.7m | SEK 12.1m |
| Shares outstanding | 148m | 143m | 141m | 140m | 140m | 126m | 120m | 122m | 103m | 88m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −SEK 46.0m | −SEK 6.9m | −SEK 15.1m | −SEK 64.9m | −SEK 87.0m | −SEK 38.1m | −SEK 117.0m | −SEK 52.9m | −SEK 60.6m | −SEK 36.6m |
| Capital spending | −SEK 1.4m | −SEK 14.5m | −SEK 4.8m | −SEK 1.9m | −SEK 640,000 | −SEK 1.8m | −SEK 3.7m | −SEK 15.2m | −SEK 7.3m | −SEK 982,000 |
| Free cash flow | −SEK 47.4m | −SEK 21.4m | −SEK 19.9m | −SEK 66.8m | −SEK 87.7m | −SEK 39.9m | −SEK 120.7m | −SEK 68.1m | −SEK 67.9m | −SEK 37.6m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 42.6m | SEK 43.0m | SEK 43.5m | SEK 40.7m | SEK 41.0m | SEK 43.4m | SEK 43.3m | SEK 43.1m |
| Operating income | −SEK 25.7m | −SEK 12.4m | −SEK 14.2m | −SEK 10.6m | −SEK 23.1m | −SEK 20.2m | −SEK 6.3m | −SEK 764,000 |
| Net income | −SEK 24.0m | −SEK 11.4m | −SEK 12.6m | −SEK 3.9m | −SEK 22.7m | −SEK 21.4m | −SEK 1.4m | SEK 161,000 |
| Diluted earnings per share | -0.16 | -0.08 | -0.09 | -0.03 | -0.15 | -0.14 | -0.01 | 0.00 |
| Cash from operations | −SEK 12.0m | SEK 1.0m | −SEK 14.0m | −SEK 18.0m | −SEK 14.0m | SEK 1.0m | −SEK 7.0m | −SEK 5.0m |
| Capital spending | −SEK 2.0m | — | — | — | −SEK 3.0m | −SEK 3.0m | −SEK 5.0m | −SEK 3.0m |
| Free cash flow | −SEK 14.0m | — | — | — | −SEK 17.0m | −SEK 2.0m | −SEK 12.0m | −SEK 8.0m |
| Total assets | SEK 259.5m | SEK 268.3m | SEK 266.1m | SEK 283.3m | SEK 286.4m | SEK 295.7m | SEK 299.8m | SEK 296.3m |
| Cash and short-term investments | SEK 147.7m | SEK 152.6m | SEK 153.6m | SEK 171.4m | SEK 190.7m | SEK 196.4m | SEK 203.2m | SEK 214.0m |
| Debt | — | — | SEK 1.3m | — | — | — | — | — |
| Shareholders' equity | SEK 133.8m | SEK 149.4m | SEK 161.4m | SEK 173.1m | SEK 161.7m | SEK 171.1m | SEK 194.0m | SEK 197.8m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 8.4% | 4.3% | 25.1% |
| Operating income | 0.4% | -4.5% | 7.0% |
| Net income | -1.5% | -6.0% | 5.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -26.6% | -29.5% | -39.5% | -55.2% |
| Net margin | -21.8% | -24.6% | -36.0% | -52.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -12.0 | -49.9 | -29.0 | -6.6 | -10.9 | -21.6 | -8.9 | -22.5 | -24.5 | -17.7 |
| Price to sales | 4.3 | 3.8 | 3.2 | 3.2 | 7.4 | 13.0 | 8.4 | 18.3 | 15.3 | 21.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 2-for-1 split · 11 Sept 2018
- 2-for-1 split · 2 Dec 2016
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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