H 
3.95
+1.28%
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 1.14bn
FY2019FY2025
Net income
−NOK 1.50bn
FY2019FY2025
Free cash flow
−NOK 638.2m
FY2019FY2025
Shareholders' equity
NOK 462.2m
FY2019FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | NOK 1.14bn | NOK 1.87bn | NOK 1.32bn | NOK 958.6m | NOK 505.8m | NOK 178.1m | NOK 207.2m |
| Operating income | −NOK 1.17bn | −NOK 910.6m | −NOK 585.7m | −NOK 500.6m | −NOK 337.8m | −NOK 169.5m | −NOK 168.4m |
| Net income | −NOK 1.50bn | −NOK 1.11bn | −NOK 672.7m | −NOK 432.3m | −NOK 353.7m | −NOK 342.6m | −NOK 98.6m |
| Diluted earnings per share | -3.51 | -2.59 | -2.41 | -1.62 | -1.44 | -1.49 | -0.43 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Total assets | NOK 3.51bn | NOK 4.93bn | NOK 3.77bn | NOK 2.65bn | NOK 2.10bn | NOK 2.09bn | NOK 977.2m |
| Cash and short-term investments | NOK 346.8m | NOK 1.03bn | NOK 307.5m | NOK 381.7m | NOK 453.4m | NOK 1.25bn | NOK 65.1m |
| Total liabilities | NOK 2.93bn | NOK 2.81bn | NOK 1.85bn | NOK 967.3m | NOK 686.3m | NOK 465.6m | NOK 1.08bn |
| Debt | NOK 2.36bn | NOK 2.17bn | NOK 1.16bn | NOK 198.7m | NOK 108.8m | NOK 192.1m | NOK 790.1m |
| Shareholders' equity | NOK 462.2m | NOK 2.02bn | NOK 1.80bn | NOK 1.65bn | NOK 1.42bn | NOK 1.63bn | −NOK 104.8m |
| Shares outstanding | 428m | 428m | 279m | 267m | 246m | 230m | 229m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | −NOK 480.5m | −NOK 682.3m | −NOK 712.9m | −NOK 325.3m | −NOK 457.3m | −NOK 226.7m | NOK 16.6m |
| Capital spending | −NOK 157.7m | −NOK 476.6m | −NOK 482.3m | −NOK 292.7m | −NOK 145.4m | −NOK 65.1m | −NOK 114.7m |
| Free cash flow | −NOK 638.2m | −NOK 1.16bn | −NOK 1.20bn | −NOK 618.0m | −NOK 602.8m | −NOK 291.8m | −NOK 98.1m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | NOK 141.9m | NOK 270.4m | NOK 468.1m | NOK 244.8m | NOK 193.5m | NOK 229.8m | NOK 395.6m | NOK 544.0m |
| Operating income | −NOK 146.5m | −NOK 56.5m | −NOK 451.1m | −NOK 186.2m | −NOK 191.1m | −NOK 287.2m | −NOK 531.0m | −NOK 106.2m |
| Net income | −NOK 214.6m | −NOK 166.4m | −NOK 499.0m | −NOK 358.2m | −NOK 264.9m | −NOK 379.8m | −NOK 586.5m | −NOK 144.7m |
| Diluted earnings per share | -5.01 | -3.88 | -1.16 | -0.84 | -0.62 | -0.89 | -1.37 | -0.34 |
| Cash from operations | −NOK 46.0m | −NOK 44.0m | −NOK 480.0m | −NOK 111.0m | −NOK 196.0m | −NOK 174.0m | −NOK 98.0m | −NOK 115.0m |
| Capital spending | −NOK 3.0m | −NOK 5.0m | −NOK 157.0m | — | −NOK 45.0m | −NOK 41.0m | −NOK 101.0m | −NOK 132.0m |
| Free cash flow | −NOK 49.0m | −NOK 49.0m | −NOK 637.0m | — | −NOK 241.0m | −NOK 215.0m | −NOK 199.0m | −NOK 247.0m |
| Total assets | NOK 2.81bn | NOK 2.97bn | NOK 3.51bn | NOK 3.99bn | NOK 4.27bn | NOK 4.50bn | NOK 4.93bn | NOK 4.62bn |
| Cash and short-term investments | — | — | NOK 346.8m | NOK 360.3m | NOK 526.6m | NOK 793.6m | NOK 1.03bn | NOK 268.8m |
| Debt | NOK 1.96bn | NOK 1.89bn | NOK 2.30bn | NOK 2.29bn | NOK 2.24bn | NOK 2.24bn | NOK 2.17bn | NOK 1.61bn |
| Shareholders' equity | NOK 41.3m | NOK 254.7m | NOK 462.2m | NOK 942.5m | NOK 1.31bn | NOK 1.57bn | NOK 2.02bn | NOK 1.57bn |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -17.3% | 51.1% | — |
| Operating income | 32.8% | 47.3% | — |
| Net income | 51.5% | 34.4% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -69.0% | -59.9% | -61.5% | — |
| Net margin | -86.5% | -70.2% | -73.8% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Price to earnings | -4.1 | -21.6 | -46.1 | -127.9 | -149.9 | -335.1 |
| Price to sales | 12.1 | 18.6 | 27.1 | 61.8 | 111.5 | — |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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