F 
26.00
+0.78%
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 105.8m
FY2016FY2025
Net income
−SEK 32.0m
FY2016FY2025
Free cash flow
−SEK 34.8m
FY2016FY2025
Shareholders' equity
SEK 52.0m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 105.8m | SEK 131.4m | SEK 115.8m | SEK 204.6m | SEK 112.6m | SEK 82.2m | SEK 72.6m | SEK 68.9m | SEK 29.0m | SEK 19.3m |
| Research and development | — | SEK 6.4m | SEK 3.4m | SEK 2.7m | SEK 2.6m | SEK 2.6m | — | — | — | — |
| Operating income | −SEK 30.0m | −SEK 33.7m | −SEK 57.7m | −SEK 9.4m | −SEK 22.0m | −SEK 20.4m | −SEK 21.7m | −SEK 6.7m | −SEK 2.8m | SEK 127,616 |
| Net income | −SEK 32.0m | −SEK 36.4m | −SEK 60.6m | −SEK 7.1m | −SEK 22.6m | −SEK 20.1m | −SEK 21.8m | −SEK 6.9m | −SEK 3.1m | −SEK 77,540 |
| Diluted earnings per share | -2.21 | -2.77 | -6.40 | -0.84 | -2.74 | -2.71 | -2.93 | -1.09 | -0.48 | -0.01 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SEK 150.3m | SEK 141.0m | SEK 171.4m | SEK 153.7m | SEK 130.0m | SEK 75.3m | SEK 88.7m | SEK 108.0m | SEK 49.0m | SEK 11.8m |
| Cash and short-term investments | SEK 35.5m | SEK 35.5m | SEK 48.6m | SEK 30.5m | SEK 34.9m | SEK 13.4m | SEK 18.1m | SEK 60.1m | SEK 34.1m | SEK 164,028 |
| Total liabilities | SEK 98.3m | SEK 90.1m | SEK 88.1m | SEK 84.4m | SEK 57.9m | SEK 32.8m | SEK 22.8m | SEK 20.8m | SEK 13.0m | SEK 11.4m |
| Debt | SEK 44.8m | SEK 46.1m | SEK 43.1m | SEK 30.2m | SEK 14.7m | SEK 10.6m | SEK 1.2m | SEK 1.3m | SEK 1.6m | SEK 3.9m |
| Shareholders' equity | SEK 52.0m | SEK 50.9m | SEK 83.4m | SEK 69.3m | SEK 72.1m | SEK 42.5m | SEK 65.9m | SEK 87.2m | SEK 36.0m | SEK 417,044 |
| Shares outstanding | 15m | 13m | 9m | 8m | 8m | 7m | 7m | 6m | 6m | 6m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −SEK 22.9m | −SEK 11.2m | −SEK 57.3m | −SEK 22.0m | −SEK 29.3m | −SEK 11.4m | −SEK 28.5m | −SEK 23.5m | SEK 247,708 | −SEK 1.8m |
| Capital spending | −SEK 11.8m | −SEK 4.6m | −SEK 14.4m | −SEK 8.1m | −SEK 2.8m | −SEK 3.1m | −SEK 13.5m | −SEK 5.3m | −SEK 594,042 | −SEK 2.0m |
| Free cash flow | −SEK 34.8m | −SEK 15.7m | −SEK 71.8m | −SEK 30.1m | −SEK 32.2m | −SEK 14.5m | −SEK 42.0m | −SEK 28.8m | −SEK 346,334 | −SEK 3.8m |
| Dividends paid | — | — | — | — | — | — | −SEK 315,738 | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 54.6m | SEK 55.9m | SEK 36.1m | SEK 17.8m | SEK 22.4m | SEK 29.7m | SEK 44.8m | SEK 25.2m |
| Operating income | −SEK 11.6m | SEK 997,000 | −SEK 2.5m | −SEK 10.6m | −SEK 10.7m | −SEK 6.1m | −SEK 2.3m | −SEK 6.9m |
| Net income | −SEK 12.6m | −SEK 110,000 | −SEK 2.9m | −SEK 11.0m | −SEK 11.4m | −SEK 6.8m | −SEK 2.6m | −SEK 7.4m |
| Diluted earnings per share | -0.73 | -0.01 | -0.20 | -0.76 | -0.79 | -0.47 | -0.20 | -0.57 |
| Cash from operations | −SEK 2.0m | SEK 10.0m | −SEK 12.0m | −SEK 6.0m | −SEK 1.0m | −SEK 3.0m | SEK 4.0m | −SEK 3.0m |
| Capital spending | — | — | −SEK 10.0m | −SEK 1.0m | — | — | −SEK 1.0m | — |
| Free cash flow | — | — | −SEK 22.0m | −SEK 7.0m | — | — | SEK 3.0m | — |
| Total assets | SEK 271.3m | SEK 225.1m | SEK 150.3m | SEK 89.5m | SEK 100.9m | SEK 112.8m | SEK 141.0m | SEK 139.1m |
| Cash and short-term investments | SEK 39.4m | SEK 44.9m | SEK 35.5m | SEK 12.9m | SEK 19.3m | SEK 19.4m | SEK 35.5m | SEK 33.1m |
| Debt | SEK 42.6m | SEK 45.3m | SEK 44.8m | SEK 38.5m | SEK 38.0m | SEK 37.1m | SEK 46.1m | SEK 48.0m |
| Shareholders' equity | SEK 41.0m | SEK 52.1m | SEK 52.0m | SEK 18.1m | SEK 29.7m | SEK 41.3m | SEK 50.9m | SEK 50.6m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -19.7% | 5.2% | 20.4% |
| Operating income | 47.0% | 8.0% | 36.0% |
| Net income | 65.5% | 9.7% | 35.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -26.8% | -23.4% | -23.0% | -21.5% |
| Net margin | -28.8% | -24.4% | -23.8% | -22.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -4.7 | -3.4 | -2.0 | -63.8 | -28.1 | -10.8 | -12.4 | -48.1 | -85.8 |
| Price to sales | 1.4 | 0.9 | 1.1 | 2.2 | 5.6 | 2.6 | 3.7 | 4.8 | 9.0 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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