E 
0.90
+8.94%
Close of 9 Nov 2026, in EUR
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in EUR, from our data supplier.
Revenue
€22.1m
FY2016FY2025
Net income
−€32.2m
FY2016FY2025
Free cash flow
−€7.9m
FY2016FY2025
Shareholders' equity
€49.2m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €22.1m | €21.4m | €31.6m | €14.7m | €8.4m | €2.1m | €76,050 | — | — | — |
| Research and development | €127,367 | €159,459 | €339,565 | €493,537 | €378,806 | €226,952 | €69,215 | — | — | — |
| Operating income | −€28.2m | −€17.2m | −€1.0m | −€12.9m | −€8.6m | −€3.6m | €9,090 | −€47,901 | −€20,600 | −€45,740 |
| Net income | −€32.2m | −€20.7m | −€7.2m | −€13.0m | −€8.7m | −€3.6m | €7,695 | −€78,131 | −€36,374 | −€56,176 |
| Diluted earnings per share | -1.03 | -0.66 | -0.23 | -0.42 | -0.28 | -0.11 | 0.00 | -0.00 | -0.00 | -0.00 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €141.3m | €143.2m | €141.4m | €107.8m | €62.1m | €14.5m | €8.0m | €3.1m | €872,726 | €4,287 |
| Cash and short-term investments | €10.0m | €4.6m | €14.6m | €5.1m | €19.6m | €4.2m | €1.6m | €772,510 | €63,086 | €3,087 |
| Total liabilities | €88.1m | €76.8m | €61.1m | €21.4m | €15.6m | €5.8m | €4.1m | €2.9m | €872,726 | €771,628 |
| Debt | €41.9m | €37.7m | €38.7m | €3.8m | €4.6m | €2.1m | €1.7m | €55,796 | €221,312 | €221,312 |
| Shareholders' equity | €49.2m | €66.4m | €80.3m | €86.5m | €46.5m | €8.7m | €3.9m | €178,848 | −€803,715 | −€767,340 |
| Shares outstanding | 31m | 31m | 31m | 31m | 31m | 31m | 31m | 31m | 31m | 31m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −€5.1m | −€8.5m | −€14.1m | −€15.5m | −€8.0m | −€2.1m | −€319,573 | −€0 | €60,000 | — |
| Capital spending | −€2.8m | −€6.2m | −€10.4m | −€49.5m | −€25.1m | −€4.0m | −€380,881 | — | — | — |
| Free cash flow | −€7.9m | −€14.7m | −€24.5m | −€65.0m | −€33.1m | −€6.2m | −€700,454 | −€0 | €60,000 | — |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Sept 2024 | Jun 2024 | Mar 2024 | Dec 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €10.8m | €16.5m | €5.6m | €11.9m | €7.6m | €9.5m | €4.8m | €14.4m |
| Operating income | −€29.5m | −€17.8m | −€11.5m | −€13.9m | −€320,286 | −€3.4m | −€1.7m | €2.1m |
| Net income | −€30.9m | −€18.5m | −€13.7m | −€12.8m | −€6.4m | −€7.9m | −€4.0m | €1.4m |
| Diluted earnings per share | -0.99 | -0.59 | -0.44 | -0.41 | -0.21 | -0.25 | -0.13 | 0.04 |
| Cash from operations | −€10.0m | −€5.0m | — | −€4.0m | −€2.0m | −€3.0m | −€1.0m | — |
| Capital spending | — | — | −€2.0m | — | — | — | — | — |
| Total assets | €109.8m | €141.3m | €145.6m | €143.2m | €143.2m | €133.5m | €133.5m | €141.4m |
| Cash and short-term investments | €1.5m | €10.0m | €6.5m | €4.6m | €4.6m | €4.1m | €4.1m | €14.6m |
| Debt | €691,000 | €41.4m | €39.9m | €37.3m | €4.9m | €38.7m | €547,049 | €38.1m |
| Shareholders' equity | €18.3m | €49.2m | €56.2m | €66.4m | €66.4m | €72.7m | €72.7m | €80.3m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 14.6% | 60.6% | — |
| Operating income | 29.6% | 50.6% | 64.3% |
| Net income | 35.3% | 55.2% | 65.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -104.3% | -66.1% | -71.4% | — |
| Net margin | -121.5% | -81.3% | -85.0% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -1.6 | -6.0 | -43.5 | -34.3 | -83.7 | -233.2 | 267.2 | -1.6 | -0.1 | -0.0 |
| Price to sales | 2.4 | 5.8 | 9.8 | 30.3 | 86.3 | 402.0 | 27.0 | — | — | — |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 7 Dec 2004.
| FY2004 | FY2002 | |
|---|---|---|
| Paid in the year | 200.00 | 400.00 |
- 100-to-1 reverse split · 19 Feb 2020
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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