F 
21.00
-2.78%
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 51.1m
FY2016FY2025
Net income
−SEK 15.3m
FY2016FY2025
Free cash flow
SEK 6.7m
FY2016FY2025
Shareholders' equity
SEK 22.0m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 51.1m | SEK 43.9m | SEK 36.3m | SEK 29.4m | SEK 20.6m | SEK 21.9m | SEK 99.7m | SEK 76.2m | SEK 61.0m | SEK 60.1m |
| Research and development | — | — | SEK 10.9m | SEK 9.7m | SEK 8.0m | SEK 3.5m | SEK 2.4m | SEK 4.0m | SEK 2.5m | SEK 1.9m |
| Operating income | −SEK 13.4m | −SEK 19.5m | −SEK 30.0m | −SEK 38.2m | −SEK 47.3m | −SEK 44.2m | −SEK 29.1m | −SEK 29.0m | −SEK 22.6m | −SEK 18.6m |
| Net income | −SEK 15.3m | −SEK 23.4m | −SEK 32.0m | −SEK 38.8m | −SEK 52.3m | −SEK 45.1m | −SEK 24.7m | −SEK 29.4m | −SEK 22.8m | −SEK 18.4m |
| Diluted earnings per share | -0.58 | -0.88 | -1.44 | -2.05 | -2.93 | -3.08 | -1.69 | -2.05 | -1.72 | -1.52 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SEK 69.4m | SEK 60.8m | SEK 62.4m | SEK 59.8m | SEK 93.8m | SEK 85.1m | SEK 89.3m | SEK 84.9m | SEK 63.6m | SEK 81.8m |
| Cash and short-term investments | SEK 14.9m | SEK 8.4m | SEK 5.4m | SEK 6.2m | SEK 28.3m | SEK 23.3m | SEK 10.0m | SEK 28.9m | SEK 18.1m | SEK 39.8m |
| Total liabilities | SEK 47.4m | SEK 63.5m | SEK 48.6m | SEK 38.5m | SEK 34.5m | SEK 39.6m | SEK 72.0m | SEK 46.1m | SEK 39.2m | SEK 35.2m |
| Debt | SEK 10.9m | SEK 33.8m | SEK 19.5m | SEK 17.2m | SEK 13.6m | SEK 5.8m | SEK 16.1m | −SEK 2.4m | −SEK 20.6m | −SEK 18.9m |
| Shareholders' equity | SEK 22.0m | −SEK 2.7m | SEK 13.8m | SEK 21.3m | SEK 59.2m | SEK 45.5m | SEK 17.3m | SEK 38.8m | SEK 24.5m | SEK 46.6m |
| Shares outstanding | 26m | 26m | 22m | 19m | 18m | 15m | 15m | 14m | 13m | 12m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | SEK 7.1m | SEK 2.0m | −SEK 8.4m | −SEK 25.4m | −SEK 41.7m | −SEK 28.1m | −SEK 10.6m | −SEK 20.0m | −SEK 13.7m | −SEK 19.9m |
| Capital spending | −SEK 408,000 | −SEK 11.4m | −SEK 14.5m | −SEK 12.0m | −SEK 9.5m | −SEK 12.2m | −SEK 15.3m | −SEK 13.2m | −SEK 8.4m | −SEK 4.3m |
| Free cash flow | SEK 6.7m | −SEK 9.5m | −SEK 22.9m | −SEK 37.4m | −SEK 51.1m | −SEK 40.4m | −SEK 25.9m | −SEK 33.2m | −SEK 22.1m | −SEK 24.2m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 16.1m | SEK 15.5m | SEK 13.5m | SEK 12.9m | SEK 12.1m | SEK 12.6m | SEK 12.4m | SEK 11.2m |
| Operating income | −SEK 2.0m | −SEK 2.2m | −SEK 4.7m | −SEK 3.2m | −SEK 3.6m | −SEK 2.7m | −SEK 2.3m | −SEK 3.5m |
| Net income | −SEK 2.5m | −SEK 2.4m | −SEK 4.6m | −SEK 3.5m | −SEK 4.8m | −SEK 2.4m | −SEK 3.5m | −SEK 4.2m |
| Diluted earnings per share | -0.09 | -0.08 | -0.17 | -0.13 | -0.18 | -0.09 | -0.13 | -0.16 |
| Cash from operations | SEK 4.0m | SEK 7.0m | SEK 1.0m | −SEK 2.0m | SEK 1.0m | SEK 6.0m | — | SEK 1.0m |
| Capital spending | — | −SEK 3.0m | — | −SEK 3.0m | −SEK 3.0m | −SEK 3.0m | −SEK 3.0m | −SEK 2.0m |
| Free cash flow | — | SEK 4.0m | — | −SEK 5.0m | −SEK 2.0m | SEK 3.0m | — | −SEK 1.0m |
| Total assets | SEK 67.2m | SEK 64.0m | SEK 69.4m | SEK 70.7m | SEK 75.7m | SEK 58.4m | SEK 60.8m | SEK 53.0m |
| Cash and short-term investments | SEK 13.4m | SEK 13.8m | SEK 14.9m | SEK 19.3m | SEK 23.7m | SEK 7.6m | SEK 8.4m | SEK 3.4m |
| Debt | SEK 5.0m | SEK 5.8m | SEK 9.3m | SEK 11.1m | SEK 17.9m | SEK 29.8m | SEK 32.7m | SEK 23.7m |
| Shareholders' equity | SEK 21.6m | SEK 20.3m | SEK 22.0m | SEK 26.6m | SEK 21.1m | −SEK 5.3m | −SEK 2.7m | −SEK 72,000 |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 20.2% | 18.5% | -2.0% |
| Operating income | -29.5% | -21.3% | 3.4% |
| Net income | -26.6% | -19.4% | 6.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -34.6% | -62.9% | -94.7% | -53.6% |
| Net margin | -40.7% | -68.1% | -101.7% | -55.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -26.8 | -10.9 | -4.7 | -1.8 | -6.8 | -5.6 | -18.8 | -15.9 | -18.1 | -18.4 |
| Price to sales | 8.0 | 5.8 | 4.2 | 2.4 | 17.3 | 11.4 | 4.6 | 6.1 | 6.8 | 5.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 3-for-1 split · 7 Jun 2021
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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