E 
125.50
0.00%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€478.5m
FY2016FY2025
Net income
€3.0m
FY2016FY2025
Free cash flow
€75.3m
FY2016FY2025
Shareholders' equity
€413.0m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €478.5m | €373.1m | €322.8m | €190.2m | €115.9m | €150.9m | €274.6m | €296.0m | €276.7m | €281.2m |
| Research and development | — | — | €43.5m | €18.4m | €3.5m | €6.6m | €5.9m | €11.6m | €14.1m | €12.8m |
| Operating income | €26.7m | €18.1m | €7.2m | €1.1m | €11.3m | €11.0m | €4.9m | €1.6m | −€13.9m | €11.6m |
| Net income | €3.0m | −€3.6m | €16.8m | −€8.1m | €46.2m | −€5.8m | €20.9m | −€1.9m | −€16.1m | €172,000 |
| Diluted earnings per share | 0.18 | -0.21 | 0.99 | -0.47 | 2.70 | -0.43 | 1.55 | -0.14 | -1.19 | 0.01 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €1.27bn | €831.6m | €808.8m | €840.8m | €352.6m | €429.0m | €420.6m | €383.7m | €454.2m | €379.8m |
| Cash and short-term investments | €330.2m | €53.1m | €31.3m | €67.7m | €43.1m | €82.7m | €64.3m | €42.0m | €86.8m | €38.8m |
| Total liabilities | €772.0m | €627.6m | €594.3m | €630.2m | €288.3m | €302.7m | €243.8m | €222.2m | €287.1m | €278.0m |
| Debt | €368.2m | €348.7m | €338.9m | €325.5m | €143.1m | €138.8m | €101.5m | €92.0m | €84.6m | €90.2m |
| Shareholders' equity | €413.0m | €119.9m | €131.3m | €106.3m | €59.3m | €94.9m | €108.6m | €96.0m | €101.7m | €68.9m |
| Shares outstanding | 17m | 17m | 17m | 17m | 17m | 13m | 13m | 14m | 13m | 13m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €89.6m | €91.4m | €55.6m | €46.4m | −€11.8m | €37.5m | €30.4m | −€2.8m | −€1.7m | €1.3m |
| Capital spending | −€14.3m | −€34.7m | −€9.4m | −€17.1m | −€25.3m | −€18.3m | −€17.6m | −€14.2m | −€15.7m | −€13.9m |
| Free cash flow | €75.3m | €56.7m | €46.3m | €29.2m | −€37.1m | €19.2m | €12.7m | −€17.0m | −€17.4m | −€12.5m |
| Dividends paid | −€583,000 | −€366,000 | −€128,000 | −€584,000 | −€5.5m | −€4.3m | −€4.3m | −€4.3m | — | — |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sept 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €274.7m | €247.8m | €230.8m | €210.4m | €175.1m | €87.5m | €182.6m | €91.3m |
| Operating income | −€19.9m | €12.5m | €14.2m | €14.6m | €3.8m | €1.9m | −€234,000 | €16.0m |
| Net income | −€84.7m | €1.7m | €1.3m | €64,000 | −€3.7m | −€1.9m | −€9.8m | −€4.9m |
| Diluted earnings per share | -4.99 | 0.10 | 0.08 | 0.00 | -0.22 | -0.11 | -0.58 | -0.29 |
| Cash from operations | −€28.0m | €69.0m | €20.0m | €60.0m | €22.0m | €11.0m | €51.0m | €29.0m |
| Capital spending | −€13.0m | −€8.0m | −€5.0m | −€9.0m | −€5.0m | −€2.0m | −€5.0m | −€2.0m |
| Free cash flow | −€41.0m | €61.0m | €15.0m | €51.0m | €17.0m | €9.0m | €46.0m | €27.0m |
| Total assets | €1.66bn | €1.27bn | €898.3m | €831.6m | €853.8m | €853.8m | €813.2m | €813.2m |
| Cash and short-term investments | €504.6m | €330.2m | €31.3m | €53.1m | €65.7m | €65.7m | €31.3m | €25.5m |
| Debt | €97.2m | €368.2m | €341.3m | €356.8m | €391.1m | €81.7m | €306.8m | €43.2m |
| Shareholders' equity | €337.9m | €413.0m | €112.9m | €119.9m | €127.6m | €127.6m | €129.5m | €131.3m |
Financial ratios
Data as of 30 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Operating margin | 5.6% | 5.1% | 2.0% | 12.0% | 10.5% | 7.4% | — | — |
| Net margin | 0.6% | -1.0% | 5.2% | -4.3% | 39.9% | -3.9% | — | — |
| Return on equity | 0.7% | -3.0% | 12.8% | -7.6% | 77.9% | -6.1% | — | — |
| Return on assets | 0.2% | -0.4% | 2.1% | -1.0% | 13.1% | -1.4% | — | — |
| Free cash flow yield | 4.9% | 5.9% | 3.0% | 3.0% | 0.6% | 3.3% | — | — |
| Revenue growth | 28.3% | 15.6% | 69.8% | 64.1% | -23.2% | -45.1% | — | — |
| Earnings growth | -181.8% | -121.6% | -308.2% | -117.5% | -895.2% | -127.8% | — | — |
| Current ratio | 1.79x | 1.25x | 1.31x | 1.42x | 1.31x | 1.22x | — | — |
| Debt to equity | 0.82x | 2.64x | 2.34x | 2.78x | 2.21x | 1.27x | — | — |
| Equity ratio | 32.4% | 14.4% | 16.2% | 12.6% | 16.8% | 22.1% | — | — |
| Interest coverage | 0.99x | 0.68x | 0.23x | 2.69x | 5.84x | 11.29x | — | — |
| R&D as a share of sales | — | — | 13.5% | 9.7% | 3.0% | 4.4% | 2.1% | 3.9% |
| Buybacks as a share of market value | -0.1% | 0.3% | 0.5% | 0.1% | -26.9% | 0.1% | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 36.0% | 26.0% | 6.1% |
| Operating income | 192.5% | 19.3% | 13.0% |
| Net income | — | — | 6.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 5.3% | 3.9% | 4.6% | 2.9% |
| Net margin | -0.1% | 0.6% | 3.0% | 1.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 464.1 | -80.8 | 19.5 | -41.6 | 6.0 | -21.8 | 8.2 | -45.3 | -9.8 | — |
| Price to sales | 2.9 | 0.8 | 1.0 | 1.8 | 2.4 | 0.8 | 0.6 | 0.3 | 0.6 | 0.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 23 Jun 2021.
| FY2021 | FY2020 | FY2019 | FY2018 | FY2015 | FY2014 | FY2013 | FY2012 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.32 | 0.32 | 0.32 | 0.32 | 0.32 | 0.32 | 0.32 | 0.30 |
- 5-for-1 split · 23 Feb 2005
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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