D 
17.70
+2.67%
Close of 9 Nov 2026, in NOK
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in NOK, from our data supplier.
Revenue
NOK 638.3m
FY2022FY2025
Net income
NOK 49.2m
FY2022FY2025
Free cash flow
−NOK 35.9m
FY2022FY2025
Shareholders' equity
NOK 387.2m
FY2022FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|
| Revenue | NOK 638.3m | NOK 266.0m | NOK 105.9m | NOK 52.9m |
| Research and development | NOK 2.9m | NOK 6.1m | NOK 175,000 | NOK 261,000 |
| Operating income | NOK 74.5m | NOK 12.1m | NOK 4.0m | NOK 1.4m |
| Net income | NOK 49.2m | NOK 2.8m | NOK 3.6m | NOK 410,000 |
| Diluted earnings per share | 9.14 | 0.58 | 0.74 | 0.09 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|
| Total assets | NOK 597.4m | NOK 115.6m | NOK 66.7m | NOK 27.3m |
| Cash and short-term investments | NOK 263.7m | NOK 7.2m | NOK 30.0m | NOK 15.4m |
| Total liabilities | NOK 210.2m | NOK 67.0m | NOK 13.4m | NOK 3.4m |
| Debt | NOK 9.0m | NOK 25.5m | NOK 1.8m | NOK 1.0m |
| Shareholders' equity | NOK 387.2m | NOK 48.6m | NOK 53.3m | NOK 23.9m |
| Shares outstanding | 5m | 5m | 5m | 5m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|
| Cash from operations | −NOK 31.2m | −NOK 35.0m | −NOK 10.4m | −NOK 2.7m |
| Capital spending | −NOK 4.6m | −NOK 613,000 | −NOK 570,000 | −NOK 465,000 |
| Free cash flow | −NOK 35.9m | −NOK 35.6m | −NOK 11.0m | −NOK 3.2m |
| Dividends paid | — | −NOK 8.0m | −NOK 2.0m | −NOK 3.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | NOK 161.9m | NOK 210.3m | NOK 149.9m | NOK 199.5m | NOK 153.5m | NOK 119.1m | NOK 265.8m | NOK 76.3m |
| Operating income | NOK 8.9m | NOK 20.4m | NOK 9.2m | NOK 29.0m | NOK 20.8m | NOK 15.4m | NOK 12.6m | NOK 7.0m |
| Net income | NOK 9.0m | NOK 14.3m | NOK 6.8m | NOK 19.6m | NOK 12.8m | NOK 10.0m | NOK 2.8m | NOK 415,000 |
| Diluted earnings per share | 0.21 | 0.33 | 1.25 | 4.15 | 0.34 | 1.87 | 0.07 | 0.01 |
| Cash from operations | NOK 14.0m | −NOK 8.0m | −NOK 31.0m | NOK 6.0m | NOK 12.0m | −NOK 16.0m | −NOK 34.0m | −NOK 5.0m |
| Capital spending | −NOK 1.0m | — | −NOK 4.0m | −NOK 4.0m | −NOK 1.0m | — | — | — |
| Free cash flow | NOK 13.0m | — | −NOK 35.0m | NOK 2.0m | NOK 11.0m | — | — | — |
| Total assets | NOK 533.2m | NOK 575.8m | NOK 597.4m | NOK 363.2m | NOK 192.1m | — | NOK 115.6m | — |
| Cash and short-term investments | — | — | NOK 263.7m | NOK 130.4m | — | — | — | — |
| Debt | NOK 198,000 | NOK 195,000 | NOK 9.0m | NOK 9.8m | NOK 309,000 | — | NOK 380,000 | — |
| Shareholders' equity | NOK 380.1m | NOK 373.1m | NOK 387.2m | NOK 181.4m | NOK 71.2m | — | NOK 48.6m | — |
Financial ratios
Data as of 29 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Operating margin | 10.5% | 4.0% | 3.7% | 1.2% | — |
| Net margin | 7.7% | 1.1% | 3.4% | 0.8% | — |
| Return on equity | 12.7% | 5.8% | 6.7% | 1.7% | — |
| Return on assets | 8.2% | 2.4% | 5.3% | 1.5% | — |
| Revenue growth | 140.0% | 151.2% | 100.0% | — | — |
| Earnings growth | 1653.0% | -21.4% | 770.2% | — | — |
| Current ratio | 2.90x | 1.69x | 4.34x | 6.35x | 2.77x |
| Debt to equity | 0.00x | 0.01x | 0.01x | 0.02x | 0.10x |
| Equity ratio | 64.8% | 42.1% | 79.9% | 87.4% | 63.5% |
| Interest coverage | 4.24x | 6.86x | 6.43x | 1.05x | — |
| R&D as a share of sales | 0.5% | 2.3% | 0.2% | 0.5% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 129.6% | — | — |
| Operating income | 275.2% | — | — |
| Net income | 393.2% | — | — |
Valuation history
At each fiscal year end
| FY2025 | |
|---|---|
| Price to earnings | 2.8 |
| Price to sales | 0.2 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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