G 
4.55
-4.01%
Close of 9 Nov 2026, in NOK
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in NOK, from our data supplier.
Revenue
NOK 71.6m
FY2019FY2025
Net income
−NOK 469,000
FY2019FY2025
Free cash flow
−NOK 391.1m
FY2019FY2025
Shareholders' equity
NOK 715.5m
FY2019FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | NOK 71.6m | — | NOK 60,000 | NOK 151,000 | — | — | — |
| Gross profit | NOK 230.7m | NOK 72.0m | — | NOK 151,000 | NOK 1.9m | — | — |
| Operating income | NOK 3.7m | −NOK 3.0m | −NOK 3.3m | −NOK 3.7m | −NOK 1.8m | −NOK 627,540 | −NOK 361,950 |
| Net income | −NOK 469,000 | −NOK 2.1m | NOK 728,000 | NOK 5.6m | NOK 2.7m | −NOK 481,870 | −NOK 274,990 |
| Diluted earnings per share | -0.00 | -0.01 | 0.01 | 0.05 | 0.03 | -0.00 | -0.00 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Total assets | NOK 1.52bn | NOK 1.22bn | NOK 657.7m | NOK 317.6m | NOK 290.7m | NOK 67.1m | NOK 3.9m |
| Cash and short-term investments | NOK 6.6m | NOK 106.6m | NOK 115.0m | NOK 182.1m | NOK 258.7m | NOK 65.6m | NOK 1.6m |
| Total liabilities | NOK 802.9m | NOK 500.7m | NOK 176.1m | NOK 37.9m | NOK 16.6m | NOK 1.8m | NOK 1.7m |
| Debt | NOK 741.8m | NOK 452.9m | NOK 130.4m | — | — | — | — |
| Shareholders' equity | NOK 715.5m | NOK 715.8m | NOK 481.5m | NOK 279.7m | NOK 274.1m | NOK 65.3m | NOK 2.1m |
| Shares outstanding | 171m | 171m | 134m | 106m | 106m | 106m | 106m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | −NOK 117.8m | −NOK 77.0m | NOK 1.7m | −NOK 7.2m | −NOK 1.8m | −NOK 613,679 | NOK 9,020 |
| Capital spending | −NOK 273.3m | −NOK 428.4m | −NOK 195.5m | −NOK 69.4m | −NOK 5.7m | −NOK 82,900 | −NOK 28,090 |
| Free cash flow | −NOK 391.1m | −NOK 505.3m | −NOK 193.8m | −NOK 76.6m | −NOK 7.6m | −NOK 696,579 | −NOK 19,070 |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | Jun 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | NOK 40.7m | NOK 72.5m | NOK 71.6m | NOK 44.7m | — | — | — | — |
| Gross profit | NOK 40.7m | NOK 39.7m | NOK 230.7m | NOK 80.4m | NOK 22.6m | NOK 25.8m | NOK 46.2m | — |
| Operating income | −NOK 7.9m | NOK 4.0m | NOK 3.7m | −NOK 3.6m | −NOK 751,000 | −NOK 271,000 | −NOK 1.1m | −NOK 1.1m |
| Net income | −NOK 11.2m | −NOK 18.4m | −NOK 469,000 | −NOK 2.9m | −NOK 949,000 | NOK 139,000 | −NOK 710,000 | −NOK 1.2m |
| Diluted earnings per share | -0.05 | -0.08 | -0.00 | -0.02 | -0.01 | 0.00 | -0.00 | -0.01 |
| Cash from operations | −NOK 12.0m | −NOK 15.0m | −NOK 117.0m | −NOK 36.0m | −NOK 33.0m | −NOK 76.0m | −NOK 34.0m | −NOK 7.0m |
| Capital spending | −NOK 34.0m | −NOK 46.0m | −NOK 273.0m | −NOK 140.0m | −NOK 72.0m | −NOK 428.0m | −NOK 117.0m | −NOK 99.0m |
| Free cash flow | −NOK 46.0m | −NOK 61.0m | −NOK 390.0m | −NOK 176.0m | −NOK 105.0m | −NOK 504.0m | −NOK 151.0m | −NOK 106.0m |
| Total assets | NOK 1.64bn | NOK 1.68bn | NOK 1.52bn | NOK 1.32bn | NOK 1.23bn | NOK 1.22bn | NOK 1.11bn | NOK 998.8m |
| Cash and short-term investments | — | — | NOK 6.6m | NOK 43.7m | NOK 10.4m | NOK 106.6m | NOK 110.6m | — |
| Debt | NOK 324.0m | NOK 323.8m | NOK 510.0m | NOK 480.1m | NOK 412.8m | NOK 299.6m | NOK 217.4m | NOK 116.9m |
| Shareholders' equity | NOK 1.07bn | NOK 1.08bn | NOK 715.3m | NOK 711.9m | NOK 714.8m | NOK 715.8m | NOK 715.6m | NOK 701.4m |
Financial ratios
Data as of 1 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 322.3% | — | — | 100.0% | — | — |
| Operating margin | 3.3% | — | 1698.3% | -2458.3% | — | — |
| Net margin | -0.7% | — | 1213.3% | 3698.0% | — | — |
| Return on equity | -0.1% | -0.3% | 0.2% | 2.0% | 1.0% | -0.7% |
| Return on assets | -0.0% | -0.2% | 0.1% | 1.8% | 0.9% | -0.7% |
| Free cash flow yield | — | — | — | 11.8% | — | — |
| Revenue growth | — | — | -60.3% | — | — | — |
| Earnings growth | -77.6% | -388.2% | -87.0% | 103.8% | -668.5% | 75.2% |
| Current ratio | 1.46x | 2.56x | 2.97x | 5.32x | 16.00x | 940.01x |
| Debt to equity | 0.70x | 0.42x | 0.27x | 0.00x | 0.00x | 0.00x |
| Equity ratio | 47.1% | 58.8% | 73.2% | 88.1% | 94.3% | 97.4% |
| Interest coverage | 0.81x | -12.34x | 42.46x | -128.00x | -24743.86x | -9654.43x |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 679.7% | — | — |
| Net income | — | -0.5% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2022 | FY2021 | |
|---|---|---|---|---|
| Price to earnings | -3103.9 | -649.8 | 153.1 | 190.0 |
| Price to sales | 20.3 | — | — | — |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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