G 
11.02
+3.96%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€65.4m
FY2016FY2025
Net income
−€86.0m
FY2016FY2025
Free cash flow
−€26.7m
FY2016FY2025
Shareholders' equity
−€23.6m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €65.4m | €67.0m | €28.6m | €20.2m | €80.1m | €765,000 | €30.8m | €69,000 | €118,000 | €284,000 |
| Gross profit | €14.6m | €66.7m | €28.2m | €19.9m | €79.9m | €563,000 | €30.7m | −€1.8m | −€2.1m | −€1.7m |
| Research and development | €52.8m | €47.2m | €46.7m | €35.8m | €35.2m | €59.1m | €66.2m | €47.7m | €35.1m | €19.2m |
| Operating income | −€60.2m | €3.3m | −€27.1m | −€27.5m | €31.8m | −€82.9m | −€57.2m | −€69.5m | −€57.3m | −€34.2m |
| Net income | −€86.0m | €1.5m | −€28.9m | −€23.7m | €67.3m | −€101.2m | −€65.1m | −€79.5m | −€58.6m | −€33.7m |
| Diluted earnings per share | -1.72 | 0.03 | -0.58 | -0.48 | 1.18 | -2.61 | -1.68 | -2.55 | -1.88 | -1.20 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €157.9m | €151.4m | €173.9m | €215.5m | €281.7m | €198.6m | €309.9m | €229.5m | €293.2m | €166.2m |
| Cash and short-term investments | €101.1m | €81.8m | €77.8m | €140.6m | €258.8m | €171.0m | €276.7m | €207.2m | €273.8m | €152.3m |
| Total liabilities | €181.6m | €82.2m | €105.9m | €121.0m | €162.6m | €214.8m | €225.8m | €208.5m | €189.0m | €23.4m |
| Debt | €150.7m | €62.1m | €70.2m | €75.3m | €74.2m | €185.7m | €183.6m | €169.6m | €163.8m | €6.3m |
| Shareholders' equity | −€23.6m | €69.2m | €68.0m | €94.5m | €119.1m | −€16.2m | €84.1m | €20.9m | €104.2m | €142.8m |
| Shares outstanding | 50m | 50m | 50m | 50m | 57m | 39m | 39m | 31m | 31m | 28m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −€25.3m | €15.5m | −€55.4m | −€72.6m | €99.9m | −€96.4m | −€47.7m | −€56.1m | −€49.9m | −€27.2m |
| Capital spending | −€1.4m | −€979,000 | −€2.5m | — | −€537,000 | −€900,000 | −€2.0m | −€2.9m | −€2.8m | −€2.0m |
| Free cash flow | −€26.7m | €14.6m | −€57.9m | −€72.6m | €99.4m | −€97.3m | −€49.7m | −€59.0m | −€52.7m | −€29.3m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Sept 2023 | Jun 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €21.1m | €31.9m | €35.5m | €9.6m | €61.1m | €14.3m | €2.8m | €11.5m |
| Gross profit | €19.0m | −€18.0m | €35.5m | €6.5m | €60.2m | €19.4m | €2.8m | €15.1m |
| Operating income | −€12.2m | −€56.9m | €76,000 | −€27.9m | €29.0m | −€2.8m | €2.8m | −€23.7m |
| Net income | −€26.1m | −€76.0m | −€10.0m | −€28.8m | €30.3m | −€8.0m | — | −€20.9m |
| Diluted earnings per share | -0.52 | -1.52 | -0.20 | -0.58 | 0.61 | -0.16 | — | -0.42 |
| Cash from operations | €3.0m | €5.0m | −€30.0m | €26.0m | −€11.0m | −€30.0m | — | −€25.0m |
| Capital spending | — | — | −€1.0m | — | — | — | — | −€2.0m |
| Free cash flow | — | — | −€31.0m | — | — | — | — | −€27.0m |
| Total assets | €153.6m | €157.9m | €216.7m | €151.4m | €194.8m | €173.9m | — | €193.9m |
| Cash and short-term investments | €113.8m | €101.1m | €107.5m | €81.8m | €61.6m | €77.8m | — | €111.8m |
| Debt | €68.0m | €46.4m | €22.3m | €62.1m | €67.8m | €65.4m | — | €75.4m |
| Shareholders' equity | −€48.5m | −€23.6m | €52.5m | €69.2m | €97.4m | €68.0m | — | €74.5m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 48.0% | 143.5% | 62.0% |
| Operating income | 29.8% | -6.2% | 13.0% |
| Net income | 53.6% | -3.2% | 17.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 61.4% | 71.4% | 80.1% | 79.5% |
| Operating margin | -43.0% | -61.6% | -62.1% | -135.6% |
| Net margin | -63.8% | -75.7% | -65.3% | -144.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -3.0 | 116.5 | -6.1 | -8.3 | 3.7 | -1.5 | -3.6 | -2.3 | -4.4 | -6.0 |
| Price to sales | 4.0 | 2.6 | 6.2 | 9.8 | 3.1 | 202.5 | 7.6 | — | — | — |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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