G 
12.60
+9.09%
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 441.8m
FY2016FY2025
Net income
−SEK 26.1m
FY2016FY2025
Free cash flow
−SEK 97.5m
FY2016FY2025
Shareholders' equity
SEK 214.5m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 441.8m | SEK 257.0m | SEK 237.8m | SEK 198.4m | SEK 213.6m | SEK 194.6m | SEK 136.3m | SEK 153.4m | SEK 96.4m | SEK 54.1m |
| Research and development | SEK 18.8m | SEK 17.4m | SEK 39.9m | SEK 73.9m | SEK 22.1m | SEK 20.4m | SEK 40.6m | SEK 58.1m | SEK 25.3m | SEK 6.8m |
| Operating income | SEK 9.5m | −SEK 81.9m | −SEK 86.0m | −SEK 231.0m | −SEK 28.7m | −SEK 44.2m | −SEK 145.2m | −SEK 117.0m | −SEK 67.6m | −SEK 14.8m |
| Net income | −SEK 26.1m | −SEK 86.9m | −SEK 92.6m | −SEK 227.8m | −SEK 27.3m | −SEK 43.6m | −SEK 151.7m | −SEK 112.5m | −SEK 54.0m | SEK 9.0m |
| Diluted earnings per share | -0.15 | -0.62 | -0.91 | -3.63 | -0.52 | -0.83 | -2.90 | -3.64 | -2.04 | 0.37 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SEK 669.7m | SEK 326.7m | SEK 302.2m | SEK 334.2m | SEK 395.8m | SEK 403.0m | SEK 436.8m | SEK 608.5m | SEK 313.1m | SEK 206.0m |
| Cash and short-term investments | SEK 213.5m | SEK 82.5m | SEK 61.1m | SEK 33.1m | SEK 99.3m | SEK 133.6m | SEK 106.2m | SEK 269.4m | SEK 84.2m | SEK 73.8m |
| Total liabilities | SEK 455.2m | SEK 303.5m | SEK 192.4m | SEK 229.4m | SEK 170.9m | SEK 155.6m | SEK 141.1m | SEK 166.7m | SEK 127.8m | SEK 59.9m |
| Debt | SEK 137.7m | SEK 101.8m | SEK 90.7m | SEK 108.9m | SEK 46.7m | SEK 61.5m | SEK 78.6m | SEK 23.4m | SEK 29.2m | SEK 11.9m |
| Shareholders' equity | SEK 214.5m | SEK 23.2m | SEK 109.8m | SEK 104.8m | SEK 224.9m | SEK 247.4m | SEK 295.7m | SEK 441.8m | SEK 185.3m | SEK 146.1m |
| Shares outstanding | 169m | 141m | 102m | 63m | 52m | 52m | 52m | 31m | 26m | 24m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −SEK 47.0m | SEK 38.3m | −SEK 47.9m | −SEK 159.1m | SEK 3.2m | SEK 43.4m | −SEK 92.6m | −SEK 102.6m | −SEK 8.4m | −SEK 17.4m |
| Capital spending | −SEK 50.5m | −SEK 164,000 | −SEK 7.6m | −SEK 50.3m | −SEK 27.5m | −SEK 24.8m | −SEK 38.5m | −SEK 90.8m | −SEK 60.4m | −SEK 12.1m |
| Free cash flow | −SEK 97.5m | SEK 38.1m | −SEK 55.5m | −SEK 209.3m | −SEK 24.3m | SEK 18.7m | −SEK 131.1m | −SEK 193.4m | −SEK 68.8m | −SEK 29.4m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 112.6m | SEK 119.7m | SEK 145.6m | SEK 128.5m | SEK 95.9m | SEK 92.4m | SEK 83.3m | SEK 70.5m |
| Operating income | SEK 5.4m | SEK 3.9m | SEK 6.2m | SEK 3.8m | −SEK 682,000 | SEK 56,500 | −SEK 21.0m | −SEK 17.1m |
| Net income | SEK 8.2m | SEK 14.2m | −SEK 717,000 | SEK 21.5m | −SEK 29.4m | −SEK 17.4m | −SEK 29.6m | −SEK 26.2m |
| Diluted earnings per share | 0.05 | 0.08 | -0.00 | 0.13 | -0.17 | -0.10 | -0.21 | -0.19 |
| Cash from operations | −SEK 16.0m | −SEK 16.0m | −SEK 21.0m | −SEK 21.0m | −SEK 12.0m | −SEK 12.0m | SEK 27.0m | SEK 21.0m |
| Capital spending | −SEK 5.0m | −SEK 5.0m | −SEK 2.0m | −SEK 2.0m | −SEK 18.0m | — | — | — |
| Free cash flow | −SEK 21.0m | −SEK 21.0m | −SEK 23.0m | −SEK 23.0m | −SEK 30.0m | — | — | — |
| Total assets | SEK 787.8m | — | SEK 695.8m | SEK 669.7m | SEK 346.8m | — | SEK 326.7m | SEK 326.7m |
| Cash and short-term investments | SEK 210.2m | SEK 213.5m | SEK 213.5m | SEK 213.5m | SEK 29.4m | SEK 82.7m | SEK 82.5m | SEK 82.5m |
| Debt | SEK 5.2m | — | SEK 123.0m | SEK 8.7m | SEK 93.0m | — | SEK 64.0m | SEK 12.5m |
| Shareholders' equity | SEK 323.2m | SEK 214.5m | SEK 195.5m | SEK 214.5m | −SEK 11.9m | SEK 22.7m | SEK 23.2m | SEK 23.2m |
Financial ratios
Data as of 22 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | 2.1% | -25.2% | -36.2% | -116.4% | -13.4% | -17.9% |
| Net margin | -5.9% | -33.8% | -38.9% | -114.8% | -12.8% | -22.4% |
| Return on equity | -12.1% | -374.5% | -84.3% | -217.4% | -12.2% | -17.6% |
| Return on assets | -3.9% | -26.6% | -30.6% | -68.2% | -6.9% | -10.8% |
| Free cash flow yield | 0.2% | 2.4% | -3.5% | -15.4% | 5.2% | 11.6% |
| Revenue growth | 71.9% | 8.1% | 19.9% | -7.1% | 9.8% | 42.8% |
| Earnings growth | -70.0% | -6.1% | -59.4% | 733.7% | -37.3% | -71.3% |
| Current ratio | 2.01x | 0.94x | 1.60x | 0.80x | 1.66x | 2.11x |
| Debt to equity | 0.51x | 2.76x | 0.63x | 0.73x | 0.11x | 0.12x |
| Equity ratio | 32.0% | 7.1% | 36.3% | 31.4% | 56.8% | 61.4% |
| Interest coverage | 0.14x | -5.82x | -9.29x | -82.23x | -9.09x | -9.41x |
| R&D as a share of sales | 4.3% | 6.8% | 16.8% | 37.3% | 10.3% | 10.5% |
| Buybacks as a share of market value | -19.9% | -38.3% | -62.1% | -20.0% | 0.0% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 30.6% | 17.8% | 29.2% |
| Net income | -51.5% | -9.8% | 27.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -10.4% | -34.3% | -30.0% | -40.1% |
| Net margin | -16.2% | -38.2% | -32.7% | -40.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -109.8 | -7.0 | -4.8 | -0.6 | -14.6 | -14.8 | -2.9 | -2.1 | -23.8 | 50.7 |
| Price to sales | 6.5 | 2.4 | 1.9 | 0.7 | 1.9 | 3.3 | 3.3 | 1.6 | 13.3 | 8.4 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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