B 
18.80
+0.53%
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 83.1m
FY2016FY2025
Net income
−SEK 113.0m
FY2016FY2025
Free cash flow
−SEK 83.6m
FY2016FY2025
Shareholders' equity
SEK 94.2m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 83.1m | SEK 103.0m | SEK 188.5m | SEK 208.1m | SEK 158.8m | SEK 31.1m | SEK 3.2m | SEK 4.5m | SEK 5.6m | SEK 6.8m |
| Research and development | SEK 72.3m | SEK 80.5m | SEK 98.7m | SEK 25.4m | SEK 16.6m | SEK 4.5m | SEK 2.3m | SEK 2.5m | SEK 3.0m | — |
| Operating income | −SEK 118.8m | −SEK 120.3m | −SEK 284.0m | −SEK 219.7m | −SEK 231.0m | −SEK 63.7m | −SEK 19.9m | −SEK 19.6m | −SEK 17.7m | −SEK 11.1m |
| Net income | −SEK 113.0m | −SEK 111.7m | −SEK 278.4m | −SEK 200.2m | −SEK 231.1m | −SEK 63.8m | −SEK 19.6m | −SEK 19.8m | −SEK 21.1m | −SEK 9.0m |
| Diluted earnings per share | -16.05 | -16.11 | -39.60 | -0.95 | -33.64 | -12.44 | -8.21 | -39.11 | -50.02 | -28.46 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SEK 141.8m | SEK 261.4m | SEK 374.4m | SEK 676.8m | SEK 869.6m | SEK 380.0m | SEK 25.7m | SEK 11.8m | SEK 34.6m | — |
| Cash and short-term investments | SEK 103.1m | SEK 183.1m | SEK 272.1m | SEK 378.4m | SEK 542.4m | SEK 317.8m | SEK 15.6m | SEK 7.9m | SEK 27.1m | — |
| Total liabilities | SEK 47.6m | SEK 52.2m | SEK 55.5m | SEK 87.1m | SEK 100.1m | SEK 37.2m | SEK 4.1m | SEK 4.4m | SEK 7.5m | — |
| Debt | — | — | −SEK 28.6m | SEK 36.4m | — | SEK 416,667 | SEK 916,668 | SEK 1.4m | SEK 1.9m | — |
| Shareholders' equity | SEK 94.2m | SEK 209.2m | SEK 318.9m | SEK 589.7m | SEK 769.5m | SEK 342.8m | SEK 21.6m | SEK 7.4m | SEK 27.0m | — |
| Shares outstanding | 7m | 7m | 7m | 211m | 7m | 5m | 2m | 1m | 0m | 0m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −SEK 83.6m | −SEK 83.3m | −SEK 120.2m | −SEK 138.4m | −SEK 85.1m | −SEK 35.5m | −SEK 17.7m | −SEK 18.8m | −SEK 17.6m | −SEK 7.3m |
| Capital spending | — | −SEK 16,000 | −SEK 189,000 | −SEK 24.8m | −SEK 77.7m | −SEK 32.7m | −SEK 6.1m | −SEK 978,000 | −SEK 3.2m | — |
| Free cash flow | −SEK 83.6m | −SEK 83.3m | −SEK 120.4m | −SEK 163.2m | −SEK 162.8m | −SEK 68.1m | −SEK 23.9m | −SEK 19.8m | −SEK 20.8m | −SEK 7.3m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 19.2m | SEK 19.2m | SEK 20.4m | SEK 19.4m | SEK 20.4m | SEK 22.9m | SEK 24.0m | SEK 25.4m |
| Operating income | −SEK 20.2m | −SEK 20.2m | −SEK 27.9m | −SEK 23.8m | −SEK 28.4m | −SEK 35.4m | −SEK 33.8m | −SEK 24.3m |
| Net income | −SEK 19.8m | −SEK 19.8m | −SEK 27.9m | −SEK 22.0m | −SEK 27.9m | −SEK 35.2m | −SEK 31.2m | −SEK 23.4m |
| Diluted earnings per share | -2.46 | -2.46 | -3.97 | -3.13 | -3.96 | -5.00 | -4.50 | -3.37 |
| Cash from operations | −SEK 12.0m | −SEK 12.0m | −SEK 17.0m | −SEK 24.0m | −SEK 13.0m | −SEK 28.0m | −SEK 8.0m | −SEK 28.0m |
| Capital spending | — | — | −SEK 17.0m | −SEK 24.0m | — | — | — | — |
| Free cash flow | — | — | −SEK 34.0m | −SEK 48.0m | — | — | — | — |
| Total assets | SEK 128.4m | SEK 128.4m | SEK 141.8m | SEK 169.9m | SEK 200.4m | SEK 234.2m | SEK 261.4m | SEK 291.0m |
| Cash and short-term investments | SEK 94.7m | SEK 94.7m | SEK 103.1m | SEK 115.9m | SEK 140.5m | SEK 154.1m | SEK 183.1m | SEK 190.8m |
| Debt | — | — | — | — | — | — | — | SEK 9.3m |
| Shareholders' equity | SEK 70.9m | SEK 70.9m | SEK 94.2m | SEK 122.2m | SEK 144.7m | SEK 172.7m | SEK 209.2m | SEK 239.7m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -26.4% | 21.7% | 30.5% |
| Operating income | -18.5% | 13.3% | 41.4% |
| Net income | -17.3% | 12.1% | 44.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -128.4% | -127.5% | -134.3% | -139.0% |
| Net margin | -120.7% | -120.7% | -129.2% | -134.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -0.5 | -0.7 | -0.6 | -71.0 | -8.8 | -24.6 | -2.9 | -0.4 | -0.3 |
| Price to sales | 0.7 | 0.7 | 0.9 | 68.3 | 12.8 | 50.4 | 18.0 | 1.7 | 1.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 30-to-1 reverse split · 22 Dec 2025
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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