B 
2.95
+18.47%
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 226.5m
FY2016FY2025
Net income
−SEK 332.9m
FY2016FY2025
Free cash flow
−SEK 255.0m
FY2016FY2025
Shareholders' equity
SEK 557.6m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 226.5m | SEK 44.7m | SEK 71.5m | SEK 326.1m | SEK 147.4m | SEK 93.7m | SEK 38.5m | SEK 45.0m | SEK 71.3m |
| Gross profit | SEK 226.5m | SEK 44.7m | SEK 71.5m | SEK 326.1m | SEK 147.4m | SEK 93.7m | SEK 38.5m | SEK 42.1m | SEK 70.3m |
| Research and development | SEK 504.2m | SEK 457.7m | SEK 390.4m | SEK 325.9m | SEK 191.4m | SEK 207.9m | SEK 140.2m | SEK 109.7m | SEK 99.5m |
| Operating income | −SEK 351.4m | −SEK 471.1m | −SEK 369.9m | −SEK 50.9m | −SEK 76.0m | −SEK 138.2m | −SEK 123.2m | −SEK 100.6m | −SEK 62.9m |
| Net income | −SEK 332.9m | −SEK 429.4m | −SEK 330.3m | −SEK 34.1m | −SEK 76.7m | −SEK 139.1m | −SEK 123.2m | −SEK 100.5m | −SEK 62.6m |
| Diluted earnings per share | -5.05 | -6.54 | -5.02 | -0.52 | -2.33 | -6.44 | -8.10 | -8.04 | -5.37 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|
| Total assets | SEK 671.2m | SEK 989.2m | SEK 1.40bn | SEK 1.71bn | SEK 802.6m | SEK 226.1m | SEK 120.4m | SEK 170.0m | SEK 276.3m |
| Cash and short-term investments | SEK 592.7m | SEK 867.2m | SEK 1.07bn | SEK 1.02bn | SEK 729.3m | SEK 154.0m | SEK 68.9m | SEK 133.8m | SEK 226.1m |
| Total liabilities | SEK 113.6m | SEK 103.4m | SEK 90.5m | SEK 106.1m | SEK 59.1m | SEK 56.7m | SEK 32.8m | SEK 39.8m | SEK 45.9m |
| Debt | SEK 8.5m | SEK 17.4m | SEK 23.2m | SEK 27.0m | SEK 11.6m | SEK 15.5m | — | — | — |
| Shareholders' equity | SEK 557.6m | SEK 885.8m | SEK 1.31bn | SEK 1.61bn | SEK 743.5m | SEK 169.4m | SEK 87.6m | SEK 130.2m | SEK 230.4m |
| Shares outstanding | 66m | 66m | 66m | 65m | 33m | 22m | 15m | 12m | 12m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −SEK 247.8m | −SEK 380.5m | −SEK 341.7m | −SEK 41.2m | −SEK 62.6m | −SEK 125.4m | −SEK 141.4m | −SEK 75.9m | −SEK 72.0m |
| Capital spending | −SEK 7.3m | −SEK 10.0m | −SEK 13.3m | −SEK 12.4m | −SEK 6.7m | −SEK 3.8m | −SEK 3.8m | −SEK 16.5m | −SEK 5.3m |
| Free cash flow | −SEK 255.0m | −SEK 390.5m | −SEK 355.0m | −SEK 53.6m | −SEK 69.3m | −SEK 129.3m | −SEK 145.2m | −SEK 92.4m | −SEK 77.4m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 12.8m | SEK 13.4m | SEK 3.0m | SEK 3.3m | SEK 198.1m | SEK 22.1m | SEK 21.4m | SEK 12.8m |
| Gross profit | — | SEK 13.4m | SEK 3.0m | — | SEK 198.1m | SEK 22.1m | SEK 21.4m | SEK 12.8m |
| Operating income | −SEK 125.0m | −SEK 121.8m | −SEK 129.4m | −SEK 133.9m | SEK 34.1m | −SEK 122.8m | −SEK 125.9m | −SEK 107.1m |
| Net income | −SEK 122.9m | −SEK 119.2m | −SEK 125.8m | −SEK 129.2m | SEK 38.8m | −SEK 116.6m | −SEK 116.9m | −SEK 97.2m |
| Diluted earnings per share | -1.87 | -1.81 | -1.91 | -1.96 | 0.59 | -1.77 | -1.78 | -1.48 |
| Cash from operations | −SEK 111.0m | −SEK 132.0m | −SEK 90.0m | −SEK 103.0m | SEK 66.0m | −SEK 119.0m | −SEK 98.0m | −SEK 97.0m |
| Capital spending | — | — | −SEK 1.0m | −SEK 1.0m | −SEK 1.0m | −SEK 2.0m | — | −SEK 1.0m |
| Free cash flow | — | — | −SEK 91.0m | −SEK 104.0m | SEK 65.0m | −SEK 121.0m | — | −SEK 98.0m |
| Total assets | SEK 423.9m | SEK 535.0m | SEK 671.2m | SEK 785.8m | SEK 916.7m | SEK 862.8m | SEK 989.2m | SEK 1.09bn |
| Cash and short-term investments | SEK 340.8m | SEK 456.5m | SEK 592.7m | SEK 690.5m | SEK 797.5m | SEK 742.2m | SEK 867.2m | SEK 950.1m |
| Debt | SEK 8.8m | SEK 5.5m | SEK 8.5m | SEK 10.7m | SEK 22.1m | SEK 24.4m | SEK 17.4m | SEK 17.0m |
| Shareholders' equity | SEK 317.3m | SEK 439.1m | SEK 557.6m | SEK 683.0m | SEK 810.7m | SEK 769.7m | SEK 885.8m | SEK 1.00bn |
Financial ratios
Data as of 2 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating margin | -155.1% | -959.3% | -461.0% | -12.8% | -1433.8% | -51.6% |
| Net margin | -147.0% | -960.9% | -462.2% | -10.5% | -1439.1% | -52.0% |
| Return on equity | -59.7% | -48.5% | -25.2% | -2.1% | -20.4% | -10.3% |
| Return on assets | -49.6% | -43.4% | -23.6% | -2.0% | -19.3% | -9.6% |
| Free cash flow yield | -67.2% | -103.9% | -91.9% | -8.2% | -79.1% | -31.3% |
| Revenue growth | 406.9% | -37.5% | -78.1% | 1582.4% | -86.8% | 57.2% |
| Earnings growth | -22.5% | 30.0% | 869.1% | -87.8% | 263.9% | -44.9% |
| Current ratio | 5.67x | 9.91x | 14.93x | 12.41x | 18.98x | 14.45x |
| Debt to equity | 0.01x | 0.01x | 0.01x | 0.01x | 0.01x | 0.01x |
| Equity ratio | 83.1% | 89.5% | 93.5% | 93.8% | 94.5% | 92.6% |
| Interest coverage | -874.11x | -772.41x | -516.40x | -64.39x | -537.58x | -226.18x |
| R&D as a share of sales | 222.6% | 1024.3% | 546.4% | 99.9% | 1332.7% | 129.9% |
| Buybacks as a share of market value | -0.3% | 0.2% | -1.3% | -20.0% | -64.7% | -52.3% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -11.4% | 9.0% | 30.4% |
| Operating income | 90.4% | 35.8% | 14.0% |
| Net income | 113.7% | 34.1% | 13.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 100.0% | 100.0% | 100.0% | 99.5% |
| Operating margin | -303.3% | -185.9% | -191.2% | -192.5% |
| Net margin | -281.1% | -168.5% | -177.4% | -181.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -1.6 | -1.6 | -1.0 | -16.9 | -2.5 | -5.4 | -1.3 | -1.6 | -1.7 | -3.9 |
| Price to sales | 2.4 | 15.6 | 4.8 | 1.8 | 35.6 | 2.8 | 1.9 | 5.1 | 3.9 | 3.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 25-to-1 reverse split · 14 Dec 2020
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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