D 
0.98
+0.61%
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 130,000
FY2016FY2025
Net income
−SEK 169.8m
FY2016FY2025
Free cash flow
−SEK 179.7m
FY2016FY2025
Shareholders' equity
SEK 280.0m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 130,000 | SEK 130,000 | SEK 546,000 | SEK 454,000 | SEK 253,000 | SEK 341,000 | SEK 1.6m | SEK 726,000 | SEK 922,000 | SEK 757,000 |
| Research and development | SEK 119.5m | SEK 96.5m | SEK 69.9m | SEK 75.6m | SEK 56.9m | SEK 13.8m | SEK 22.4m | SEK 29.1m | SEK 12.9m | SEK 6.2m |
| Operating income | −SEK 183.2m | −SEK 146.6m | −SEK 120.8m | −SEK 118.2m | −SEK 85.9m | SEK 9.7m | −SEK 36.6m | −SEK 44.0m | −SEK 25.5m | −SEK 32.1m |
| Net income | −SEK 169.8m | −SEK 151.8m | −SEK 116.1m | −SEK 103.5m | SEK 60.0m | SEK 9.7m | −SEK 36.7m | −SEK 44.0m | −SEK 25.6m | −SEK 32.0m |
| Diluted earnings per share | -1.23 | -1.48 | -1.33 | -1.31 | 0.83 | 0.14 | -0.53 | -0.78 | -0.45 | -0.93 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SEK 352.6m | SEK 217.0m | SEK 205.8m | SEK 236.5m | SEK 201.4m | SEK 89.8m | SEK 74.2m | SEK 55.0m | SEK 98.6m | SEK 37.8m |
| Cash and short-term investments | SEK 277.2m | SEK 132.4m | SEK 127.5m | SEK 159.7m | SEK 139.4m | SEK 68.4m | SEK 56.7m | SEK 44.1m | SEK 85.7m | SEK 31.4m |
| Total liabilities | SEK 72.6m | SEK 71.1m | SEK 36.4m | SEK 22.1m | SEK 12.2m | SEK 17.3m | SEK 11.4m | SEK 12.0m | SEK 12.0m | SEK 8.5m |
| Debt | SEK 45.0m | SEK 30.7m | SEK 15.9m | SEK 57,000 | — | — | — | — | — | — |
| Shareholders' equity | SEK 280.0m | SEK 145.9m | SEK 169.4m | SEK 214.4m | SEK 189.3m | SEK 72.5m | SEK 62.8m | SEK 43.0m | SEK 86.7m | SEK 29.3m |
| Shares outstanding | 137m | 102m | 87m | 79m | 72m | 71m | 69m | 56m | 56m | 34m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −SEK 169.7m | −SEK 129.2m | −SEK 111.0m | −SEK 93.2m | −SEK 109.5m | SEK 16.9m | −SEK 39.2m | −SEK 41.6m | −SEK 25.8m | −SEK 17.8m |
| Capital spending | −SEK 10.0m | −SEK 8.0m | −SEK 11.4m | −SEK 34.7m | −SEK 4.2m | −SEK 2.0m | −SEK 2.0m | −SEK 347,000 | −SEK 347,000 | — |
| Free cash flow | −SEK 179.7m | −SEK 137.2m | −SEK 122.4m | −SEK 127.9m | −SEK 113.7m | SEK 14.9m | −SEK 41.2m | −SEK 41.9m | −SEK 26.2m | −SEK 17.8m |
Latest quarters
By quarter end
| Aug 2026 | May 2026 | Feb 2026 | Nov 2025 | Aug 2025 | May 2025 | Feb 2025 | Nov 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 65,000 | SEK 69,000 | SEK 99,000 | SEK 244,000 | SEK 18,000 | −SEK 1,000 | SEK 86,000 | SEK 25,000 |
| Operating income | −SEK 16.5m | −SEK 127.2m | −SEK 65.9m | −SEK 49.8m | −SEK 46.5m | −SEK 48.1m | −SEK 45.7m | −SEK 42.9m |
| Net income | −SEK 16.8m | −SEK 127.1m | −SEK 62.9m | −SEK 48.8m | −SEK 44.9m | −SEK 43.9m | −SEK 44.9m | −SEK 36.2m |
| Diluted earnings per share | -0.11 | -0.82 | -0.41 | -0.36 | -0.33 | -0.32 | -0.33 | -0.35 |
| Cash from operations | — | −SEK 71.0m | −SEK 39.0m | −SEK 43.0m | −SEK 35.0m | −SEK 43.0m | −SEK 48.0m | −SEK 41.0m |
| Capital spending | — | — | — | — | −SEK 2.0m | −SEK 4.0m | — | −SEK 2.0m |
| Free cash flow | — | — | — | — | −SEK 37.0m | −SEK 47.0m | — | −SEK 43.0m |
| Total assets | — | SEK 406.6m | SEK 253.6m | SEK 302.5m | SEK 352.6m | SEK 400.1m | SEK 180.9m | SEK 222.9m |
| Cash and short-term investments | — | SEK 346.1m | SEK 190.7m | SEK 233.2m | SEK 277.2m | SEK 319.3m | SEK 103.8m | SEK 152.9m |
| Debt | — | — | SEK 42.9m | SEK 45.0m | SEK 45.0m | SEK 45.5m | SEK 43.0m | SEK 43.6m |
| Shareholders' equity | — | SEK 259.4m | SEK 169.8m | SEK 231.6m | SEK 280.0m | SEK 324.7m | SEK 111.5m | SEK 156.1m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -34.1% | -17.5% | -12.8% |
| Operating income | 15.7% | — | 23.9% |
| Net income | 17.9% | — | 23.0% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -126847.3% | -45141.7% | -34785.7% | -12692.1% |
| Net margin | -123702.7% | -42953.7% | -25429.4% | -9954.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -9.1 | -7.0 | -3.1 | -6.3 | 11.0 | 139.1 | -29.0 | -5.5 | -4.6 | -3.8 |
| Price to sales | — | — | — | — | — | — | — | 330.9 | 127.6 | 161.5 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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