D 
90.10
+7.26%
Close of 9 Nov 2026, in PLN
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in PLN, from our data supplier.
Revenue
PLN 37.8m
FY2016FY2025
Net income
−PLN 64.4m
FY2016FY2025
Free cash flow
−PLN 13.9m
FY2016FY2025
Shareholders' equity
−PLN 5.7m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 37.8m | PLN 24.6m | PLN 25.8m | PLN 32.4m | PLN 28.9m | PLN 14.8m | PLN 3.4m | PLN 1.7m | PLN 1.7m | PLN 1.7m |
| Research and development | PLN 22.6m | PLN 2.9m | — | PLN 2.2m | — | PLN 735,000 | PLN 8.2m | — | — | — |
| Operating income | −PLN 71.6m | −PLN 52.7m | −PLN 20.2m | −PLN 129.8m | −PLN 6.1m | −PLN 6.5m | −PLN 10.8m | −PLN 13.9m | −PLN 9.1m | −PLN 7.9m |
| Net income | −PLN 64.4m | −PLN 49.0m | −PLN 28.1m | −PLN 116.7m | −PLN 1.6m | −PLN 6.3m | −PLN 11.0m | −PLN 13.7m | −PLN 9.1m | −PLN 7.6m |
| Diluted earnings per share | -10.09 | -8.69 | -5.48 | -22.74 | -0.33 | -1.27 | -2.43 | -3.32 | -2.48 | -2.53 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | PLN 110.6m | PLN 59.2m | PLN 52.3m | PLN 110.6m | PLN 89.1m | PLN 91.2m | PLN 23.9m | PLN 9.3m | PLN 20.7m | PLN 17.2m |
| Cash and short-term investments | PLN 57.7m | PLN 16.6m | PLN 12.3m | PLN 57.6m | PLN 51.7m | PLN 73.8m | PLN 13.1m | PLN 2.2m | PLN 15.1m | PLN 7.8m |
| Total liabilities | PLN 116.3m | PLN 64.8m | PLN 39.8m | PLN 81.2m | PLN 10.6m | PLN 11.4m | PLN 2.9m | PLN 1.3m | PLN 1.8m | PLN 1.1m |
| Debt | PLN 979,000 | PLN 1.5m | PLN 1.3m | PLN 1.8m | PLN 1.4m | PLN 2.4m | PLN 580,000 | PLN 24,070 | PLN 73,444 | PLN 436 |
| Shareholders' equity | −PLN 5.7m | −PLN 5.6m | PLN 12.4m | PLN 29.4m | PLN 78.5m | PLN 79.8m | PLN 21.0m | PLN 8.0m | PLN 18.9m | PLN 16.2m |
| Shares outstanding | 6m | 6m | 5m | 5m | 5m | 5m | 5m | 4m | 4m | 3m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −PLN 13.8m | −PLN 16.7m | −PLN 34.0m | −PLN 20.1m | −PLN 13.3m | −PLN 356,000 | −PLN 10.9m | −PLN 11.7m | −PLN 8.9m | −PLN 8.2m |
| Capital spending | −PLN 92,000 | −PLN 23,000 | −PLN 12.4m | −PLN 11.7m | −PLN 8.3m | −PLN 4.9m | −PLN 3.3m | −PLN 1.3m | −PLN 1.2m | −PLN 1.1m |
| Free cash flow | −PLN 13.9m | −PLN 16.8m | −PLN 46.4m | −PLN 31.8m | −PLN 21.5m | −PLN 5.3m | −PLN 14.2m | −PLN 13.1m | −PLN 10.1m | −PLN 9.3m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 7.0m | PLN 4.0m | PLN 6.7m | PLN 7.3m | PLN 10.3m | PLN 13.5m | PLN 9.1m | PLN 4.6m |
| Operating income | PLN 9.3m | −PLN 49.2m | −PLN 13.2m | PLN 2.0m | −PLN 60.2m | −PLN 73,000 | −PLN 18.9m | PLN 10.3m |
| Net income | PLN 6.4m | −PLN 41.2m | −PLN 13.6m | PLN 525,000 | −PLN 50.8m | −PLN 545,000 | −PLN 16.7m | PLN 6.5m |
| Diluted earnings per share | 0.83 | -5.36 | -2.13 | 0.08 | -7.95 | -0.09 | -2.96 | 1.15 |
| Cash from operations | −PLN 6.0m | −PLN 14.0m | −PLN 2.0m | −PLN 5.0m | −PLN 3.0m | −PLN 2.0m | −PLN 5.0m | −PLN 5.0m |
| Capital spending | — | — | — | — | — | −PLN 1.0m | −PLN 4.0m | −PLN 1.0m |
| Free cash flow | — | — | — | — | — | −PLN 3.0m | −PLN 9.0m | −PLN 6.0m |
| Total assets | PLN 203.2m | PLN 215.6m | PLN 110.6m | PLN 111.5m | PLN 121.7m | PLN 58.5m | PLN 59.2m | PLN 57.2m |
| Cash and short-term investments | PLN 153.0m | PLN 158.5m | PLN 57.7m | PLN 59.9m | PLN 66.3m | PLN 12.0m | PLN 16.6m | PLN 24.0m |
| Debt | PLN 1.0m | PLN 890,000 | PLN 1.4m | PLN 982,000 | PLN 977,000 | PLN 1.0m | PLN 1.5m | PLN 1.1m |
| Shareholders' equity | PLN 76.9m | PLN 69.0m | −PLN 5.7m | PLN 5.7m | PLN 2.9m | −PLN 4.7m | −PLN 5.6m | PLN 9.9m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 5.3% | 20.7% | 42.2% |
| Operating income | -18.0% | 61.8% | 26.7% |
| Net income | -18.0% | 59.1% | 25.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -199.2% | -227.6% | -174.7% | -192.8% |
| Net margin | -181.6% | -214.2% | -162.1% | -180.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -10.2 | -6.5 | -6.6 | -4.0 | -682.3 | -151.1 | -22.6 | -7.5 | -13.1 | -13.1 |
| Price to sales | 17.4 | 12.9 | 7.2 | 14.5 | 39.0 | 64.7 | 72.8 | 61.2 | 68.5 | 56.8 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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