H 
13.45
-10.33%
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 211.3m
FY2016FY2025
Net income
−NOK 141.5m
FY2016FY2025
Free cash flow
−NOK 107.6m
FY2016FY2025
Shareholders' equity
NOK 335.0m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | NOK 211.3m | NOK 148.8m | NOK 210.7m | NOK 451.6m | NOK 336.9m | NOK 365.6m | NOK 187.0m | NOK 76.9m | NOK 15.8m | NOK 513,000 |
| Research and development | — | NOK 42.8m | NOK 41.5m | NOK 32.4m | NOK 23.1m | NOK 35.7m | NOK 32.4m | NOK 20.8m | NOK 7.4m | — |
| Operating income | — | −NOK 157.3m | −NOK 116.1m | −NOK 41.0m | −NOK 316.6m | NOK 105.0m | NOK 2.4m | −NOK 60.8m | −NOK 49.5m | −NOK 10.1m |
| Net income | −NOK 141.5m | −NOK 172.2m | −NOK 125.0m | −NOK 41.5m | −NOK 313.1m | NOK 97.2m | NOK 2.7m | −NOK 59.0m | −NOK 49.4m | −NOK 8.6m |
| Diluted earnings per share | -6.37 | -9.40 | -18.78 | -16.11 | -90.42 | 32.99 | 0.93 | -2.66 | -2.22 | -0.39 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | NOK 572.5m | NOK 630.5m | NOK 691.4m | NOK 637.8m | NOK 636.4m | NOK 300.8m | NOK 181.8m | NOK 155.2m | NOK 176.3m | NOK 43.5m |
| Cash and short-term investments | — | NOK 116.5m | NOK 164.2m | NOK 178.4m | NOK 326.7m | NOK 120.7m | NOK 50.8m | NOK 48.7m | NOK 126.7m | NOK 27.0m |
| Total liabilities | NOK 237.6m | NOK 240.8m | NOK 298.7m | NOK 241.3m | NOK 190.3m | NOK 84.5m | NOK 65.0m | NOK 48.0m | NOK 21.8m | NOK 6.1m |
| Debt | NOK 24.8m | NOK 120.3m | NOK 122.1m | NOK 12.7m | NOK 13.9m | NOK 5.0m | NOK 3.3m | — | NOK 2.0m | NOK 1.6m |
| Shareholders' equity | NOK 335.0m | NOK 389.8m | NOK 392.7m | NOK 396.5m | NOK 446.0m | NOK 216.3m | NOK 116.8m | NOK 107.2m | NOK 154.5m | NOK 37.3m |
| Shares outstanding | 22m | 18m | 7m | 3m | 3m | 3m | 3m | 22m | 22m | 22m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −NOK 29.5m | −NOK 114.7m | −NOK 112.2m | NOK 236,000 | NOK 21.6m | NOK 131.7m | NOK 42.0m | −NOK 24.0m | −NOK 38.4m | −NOK 12.4m |
| Capital spending | −NOK 78.1m | −NOK 68.5m | −NOK 76.5m | −NOK 81.4m | −NOK 93.5m | −NOK 60.5m | −NOK 44.3m | −NOK 54.8m | −NOK 23.4m | −NOK 7.2m |
| Free cash flow | −NOK 107.6m | −NOK 183.3m | −NOK 188.7m | −NOK 81.2m | −NOK 71.9m | NOK 71.2m | −NOK 2.3m | −NOK 78.7m | −NOK 61.8m | −NOK 19.6m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | NOK 50.4m | NOK 48.5m | NOK 64.2m | NOK 45.1m | NOK 56.7m | NOK 45.3m | NOK 50.9m | NOK 25.8m |
| Operating income | −NOK 36.3m | −NOK 40.4m | −NOK 29.0m | −NOK 34.3m | −NOK 26.1m | −NOK 49.8m | −NOK 22.9m | −NOK 45.0m |
| Net income | −NOK 41.1m | −NOK 42.5m | −NOK 28.4m | −NOK 38.9m | −NOK 20.2m | −NOK 54.0m | −NOK 27.5m | −NOK 49.4m |
| Diluted earnings per share | -1.85 | -1.91 | -1.28 | -1.75 | -0.91 | -2.43 | -1.50 | -2.70 |
| Cash from operations | −NOK 49.0m | −NOK 1.0m | NOK 3.0m | — | −NOK 18.0m | −NOK 20.0m | −NOK 33.0m | −NOK 29.0m |
| Capital spending | −NOK 11.0m | −NOK 17.0m | −NOK 20.0m | −NOK 20.0m | −NOK 14.0m | −NOK 20.0m | −NOK 21.0m | −NOK 20.0m |
| Free cash flow | −NOK 60.0m | −NOK 18.0m | −NOK 17.0m | — | −NOK 32.0m | −NOK 40.0m | −NOK 54.0m | −NOK 49.0m |
| Total assets | NOK 559.9m | NOK 613.4m | NOK 572.5m | NOK 598.9m | NOK 553.1m | NOK 586.6m | NOK 630.5m | NOK 507.7m |
| Cash and short-term investments | — | — | — | NOK 84.9m | NOK 37.5m | NOK 78.8m | NOK 100.5m | NOK 34.4m |
| Debt | NOK 39.8m | NOK 30.8m | NOK 24.8m | NOK 82.8m | NOK 129.1m | NOK 129.2m | NOK 120.3m | NOK 114.6m |
| Shareholders' equity | NOK 333.3m | NOK 360.3m | NOK 335.0m | NOK 357.3m | NOK 335.3m | NOK 362.3m | NOK 389.8m | NOK 290.3m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -22.4% | -10.4% | — |
| Net income | 50.4% | — | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | -2.4 | -2.3 | -1.9 | -10.8 | -5.1 |
| Price to sales | 1.6 | 2.7 | 1.1 | 1.0 | 4.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 100-to-1 reverse split · 30 Jan 2025
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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