H 
0.39
-4.19%
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 86.7m
FY2018FY2025
Net income
−NOK 233.1m
FY2018FY2025
Free cash flow
−NOK 222.7m
FY2018FY2025
Shareholders' equity
NOK 251.0m
FY2018FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | NOK 86.7m | NOK 195.7m | NOK 568.2m | NOK 56.4m | NOK 20.0m | NOK 26.6m | NOK 25.2m | NOK 10.5m |
| Research and development | — | NOK 4.5m | NOK 4.1m | — | — | — | — | — |
| Operating income | −NOK 218.1m | −NOK 227.4m | −NOK 58.3m | −NOK 119.2m | −NOK 60.5m | −NOK 8.0m | −NOK 14.6m | −NOK 7.6m |
| Net income | −NOK 233.1m | −NOK 196.1m | −NOK 64.5m | −NOK 84.9m | −NOK 56.4m | −NOK 16.0m | −NOK 12.9m | −NOK 6.9m |
| Diluted earnings per share | -2.59 | -2.87 | -1.02 | -1.46 | -0.98 | -0.28 | -0.14 | -0.08 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Total assets | NOK 366.8m | NOK 581.6m | NOK 643.6m | NOK 573.2m | NOK 528.1m | NOK 570.0m | NOK 27.1m | NOK 14.8m |
| Cash and short-term investments | NOK 102.2m | NOK 191.2m | NOK 160.5m | NOK 257.0m | NOK 382.3m | NOK 505.7m | NOK 10.0m | NOK 8.7m |
| Total liabilities | NOK 119.9m | NOK 233.3m | NOK 190.4m | NOK 135.3m | NOK 16.8m | NOK 54.3m | NOK 42.6m | NOK 28.8m |
| Debt | NOK 10.7m | NOK 18.0m | NOK 20.4m | NOK 16.5m | NOK 3.0m | NOK 334,000 | NOK 22.9m | NOK 23.7m |
| Shareholders' equity | NOK 251.0m | NOK 346.0m | NOK 446.8m | NOK 432.9m | NOK 511.3m | NOK 515.7m | −NOK 15.5m | −NOK 14.0m |
| Shares outstanding | 90m | 68m | 63m | 58m | 58m | 57m | 90m | 90m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | −NOK 187.9m | −NOK 21.9m | −NOK 186.6m | −NOK 69.4m | −NOK 47.6m | NOK 28.5m | −NOK 7.7m | −NOK 8.6m |
| Capital spending | −NOK 34.8m | −NOK 25.1m | −NOK 19.9m | −NOK 14.7m | −NOK 28.9m | −NOK 51.7m | −NOK 53,739 | −NOK 53,739 |
| Free cash flow | −NOK 222.7m | −NOK 47.0m | −NOK 206.5m | −NOK 84.1m | −NOK 76.5m | −NOK 23.3m | −NOK 7.8m | −NOK 8.7m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | NOK 15.3m | NOK 15.9m | NOK 18.0m | NOK 34.4m | NOK 12.4m | NOK 22.4m | NOK 70.1m | NOK 71.6m |
| Operating income | −NOK 21.6m | −NOK 36.9m | −NOK 55.6m | −NOK 51.3m | −NOK 53.9m | −NOK 64.0m | −NOK 49.9m | −NOK 44.0m |
| Net income | −NOK 51.3m | −NOK 41.5m | −NOK 38.0m | −NOK 54.0m | −NOK 75.8m | −NOK 65.4m | −NOK 38.3m | −NOK 38.4m |
| Diluted earnings per share | -0.57 | -0.46 | -0.42 | -0.60 | -0.84 | -0.73 | -0.56 | -0.56 |
| Cash from operations | −NOK 8.0m | −NOK 41.0m | −NOK 187.0m | −NOK 47.0m | −NOK 54.0m | −NOK 72.0m | NOK 13.0m | −NOK 41.0m |
| Capital spending | −NOK 2.0m | −NOK 3.0m | −NOK 34.0m | −NOK 5.0m | −NOK 2.0m | −NOK 21.0m | −NOK 8.0m | −NOK 15.0m |
| Free cash flow | −NOK 10.0m | −NOK 44.0m | −NOK 221.0m | −NOK 52.0m | −NOK 56.0m | −NOK 93.0m | NOK 5.0m | −NOK 56.0m |
| Total assets | NOK 266.9m | NOK 307.5m | NOK 366.8m | NOK 484.5m | NOK 477.2m | NOK 562.9m | NOK 581.6m | NOK 561.9m |
| Cash and short-term investments | — | — | NOK 102.2m | NOK 121.4m | NOK 107.4m | NOK 165.0m | NOK 191.2m | NOK 187.7m |
| Debt | — | — | NOK 10.7m | NOK 14.0m | NOK 20.5m | NOK 22.3m | NOK 18.0m | NOK 18.9m |
| Shareholders' equity | NOK 158.2m | NOK 194.6m | NOK 251.0m | NOK 292.5m | NOK 273.7m | NOK 347.3m | NOK 346.0m | NOK 381.8m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 20.2% | 14.6% | — |
| Operating income | 22.3% | 93.9% | — |
| Net income | 40.0% | 71.0% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -157.8% | -68.7% | -72.5% | — |
| Net margin | -152.0% | -63.8% | -68.3% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Price to earnings | -0.3 | -0.7 | -6.5 | -8.0 | -6.2 | -88.2 |
| Price to sales | 1.4 | 0.8 | 0.7 | 23.0 | 18.0 | 54.5 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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