F 
1.60
+5.96%
Close of 9 Nov 2026, in DKK
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in DKK, from our data supplier.
Revenue
DKK 41.6m
FY2016FY2025
Net income
−DKK 30.7m
FY2016FY2025
Free cash flow
−DKK 27.6m
FY2016FY2025
Shareholders' equity
DKK 53.1m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | DKK 41.6m | DKK 44.2m | DKK 78.2m | DKK 54.5m | DKK 24.2m | DKK 6.8m | DKK 13.3m | DKK 11.4m | DKK 7.8m | DKK 6.3m |
| Research and development | — | DKK 347,878 | DKK 813,397 | DKK 199,577 | DKK 452,416 | — | — | — | — | — |
| Operating income | −DKK 30.1m | −DKK 25.0m | DKK 1.3m | DKK 3.1m | DKK 601,388 | −DKK 5.8m | −DKK 496,390 | DKK 179,286 | DKK 238,720 | −DKK 1.3m |
| Net income | −DKK 30.7m | −DKK 14.0m | DKK 370,244 | DKK 2.7m | DKK 659,697 | −DKK 5.8m | −DKK 460,687 | DKK 107,828 | DKK 164,682 | −DKK 1.1m |
| Diluted earnings per share | -3.23 | -1.47 | 0.03 | 0.32 | 0.09 | -0.79 | -0.06 | 0.01 | 0.02 | -0.14 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | DKK 76.7m | DKK 90.0m | DKK 99.9m | DKK 53.3m | DKK 17.5m | DKK 15.2m | DKK 6.7m | DKK 6.7m | DKK 2.8m | DKK 3.0m |
| Cash and short-term investments | DKK 28.8m | DKK 38.1m | DKK 48.0m | DKK 19.9m | DKK 4.8m | DKK 8.8m | DKK 1.3m | DKK 3.0m | DKK 178,867 | DKK 502,456 |
| Total liabilities | DKK 23.9m | DKK 27.0m | DKK 26.8m | DKK 22.6m | DKK 4.0m | DKK 3.4m | DKK 2.2m | DKK 4.7m | DKK 911,820 | DKK 1.3m |
| Debt | DKK 6.2m | DKK 11.0m | DKK 8.8m | DKK 313,403 | DKK 254,668 | DKK 46,225 | DKK 196,744 | DKK 644,386 | DKK 463,956 | DKK 203,206 |
| Shareholders' equity | DKK 53.1m | DKK 63.1m | DKK 73.2m | DKK 30.7m | DKK 14.1m | DKK 11.8m | DKK 4.5m | DKK 2.0m | DKK 1.9m | DKK 1.7m |
| Shares outstanding | 10m | 10m | 11m | 8m | 7m | 7m | 7m | 7m | 7m | 7m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −DKK 21.9m | −DKK 8.2m | −DKK 9.7m | DKK 4.8m | −DKK 3.2m | −DKK 5.2m | −DKK 4.2m | DKK 2.2m | −DKK 4.2m | — |
| Capital spending | −DKK 5.7m | −DKK 446,858 | −DKK 2.3m | −DKK 43,959 | −DKK 116,508 | −DKK 170,137 | −DKK 92,037 | −DKK 38,348 | −DKK 44,786 | — |
| Free cash flow | −DKK 27.6m | −DKK 8.7m | −DKK 11.9m | DKK 4.7m | −DKK 3.3m | −DKK 5.4m | −DKK 4.3m | DKK 2.2m | −DKK 4.2m | — |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sept 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | DKK 17.1m | DKK 27.8m | DKK 13.8m | DKK 24.9m | DKK 19.3m | DKK 9.7m | DKK 41.6m | DKK 20.8m |
| Operating income | −DKK 13.0m | −DKK 13.9m | −DKK 15.0m | −DKK 12.5m | −DKK 9.8m | −DKK 4.9m | DKK 2.7m | DKK 1.4m |
| Net income | −DKK 11.3m | −DKK 14.6m | −DKK 16.0m | −DKK 4.4m | −DKK 9.6m | −DKK 4.8m | DKK 2.0m | DKK 992,730 |
| Diluted earnings per share | -0.82 | -1.54 | -1.68 | -0.46 | -1.01 | -0.50 | 0.18 | 0.09 |
| Cash from operations | −DKK 4.0m | −DKK 4.0m | −DKK 17.0m | DKK 1.0m | −DKK 9.0m | −DKK 4.0m | −DKK 11.0m | −DKK 5.0m |
| Capital spending | — | −DKK 5.0m | — | — | — | — | — | — |
| Free cash flow | — | −DKK 9.0m | — | — | — | — | — | — |
| Total assets | DKK 68.2m | DKK 76.7m | DKK 67.8m | DKK 90.0m | DKK 90.4m | DKK 90.4m | DKK 99.9m | DKK 99.9m |
| Cash and short-term investments | DKK 24.8m | DKK 28.8m | DKK 18.3m | DKK 38.1m | DKK 38.6m | DKK 38.6m | DKK 48.0m | DKK 48.0m |
| Debt | DKK 316,000 | DKK 2.3m | DKK 2.3m | DKK 4.8m | DKK 2.1m | DKK 2.1m | DKK 1.8m | DKK 1.8m |
| Shareholders' equity | DKK 42.3m | DKK 53.1m | DKK 47.7m | DKK 63.1m | DKK 67.4m | DKK 67.4m | DKK 73.2m | DKK 73.2m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -8.6% | 43.7% | — |
| Operating income | — | 38.8% | — |
| Net income | — | 39.3% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Price to earnings | -1.2 | -5.6 | — | 131.3 | 441.9 | -53.3 |
| Price to sales | 0.9 | 1.8 | 3.9 | 6.4 | 12.0 | 45.9 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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