M 
5.88
+9.70%
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
—
FY2016FY2025
Net income
−SEK 113.3m
FY2016FY2025
Free cash flow
−SEK 81.8m
FY2016FY2025
Shareholders' equity
SEK 585.1m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | SEK 1.8m | — | — | — | — | — | — |
| Gross profit | — | — | — | SEK 3.0m | SEK 6,000 | — | — | — | — | — |
| Research and development | SEK 85.1m | SEK 101.1m | SEK 92.7m | SEK 87.0m | SEK 85.8m | SEK 47.9m | SEK 49.0m | SEK 70.9m | — | — |
| Operating income | −SEK 113.5m | −SEK 131.1m | −SEK 101.8m | −SEK 133.7m | −SEK 129.3m | −SEK 86.0m | −SEK 44.9m | −SEK 97.8m | −SEK 80.7m | −SEK 36.7m |
| Net income | −SEK 113.3m | −SEK 128.4m | −SEK 101.6m | −SEK 138.8m | −SEK 133.4m | −SEK 89.2m | −SEK 47.8m | −SEK 97.9m | −SEK 80.3m | −SEK 36.8m |
| Diluted earnings per share | -2.17 | -2.64 | -4.39 | -12.90 | -13.36 | -1.08 | -0.65 | -1.90 | -3.09 | -1.32 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SEK 628.3m | SEK 696.4m | SEK 756.0m | SEK 620.4m | SEK 721.0m | SEK 728.7m | SEK 37.9m | SEK 450.4m | SEK 246.1m | SEK 121.6m |
| Cash and short-term investments | SEK 64.7m | SEK 101.9m | SEK 120.8m | SEK 41.9m | SEK 155.3m | SEK 167.6m | SEK 14.0m | SEK 445.3m | SEK 128.9m | SEK 112.4m |
| Total liabilities | SEK 43.3m | SEK 51.2m | SEK 51.2m | SEK 105.9m | SEK 64.2m | SEK 67.6m | SEK 43.6m | SEK 44.3m | SEK 56.6m | SEK 19.2m |
| Debt | SEK 18.9m | SEK 22.7m | SEK 24.5m | SEK 78.2m | SEK 309,000 | SEK 16.1m | SEK 2.1m | — | — | — |
| Shareholders' equity | SEK 585.1m | SEK 645.1m | SEK 704.7m | SEK 514.4m | SEK 656.7m | SEK 661.1m | −SEK 5.7m | SEK 406.0m | SEK 189.6m | SEK 102.4m |
| Shares outstanding | 52m | 49m | 23m | 11m | 10m | 83m | 74m | 51m | 26m | 28m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −SEK 81.5m | −SEK 79.7m | −SEK 162.8m | −SEK 109.3m | −SEK 138.0m | −SEK 56.6m | −SEK 57.6m | −SEK 104.7m | −SEK 46.4m | −SEK 33.7m |
| Capital spending | −SEK 307,000 | −SEK 1.8m | −SEK 1.8m | −SEK 12.1m | −SEK 1.4m | −SEK 464,000 | −SEK 809,000 | — | — | — |
| Free cash flow | −SEK 81.8m | −SEK 81.5m | −SEK 164.6m | −SEK 121.4m | −SEK 139.4m | −SEK 57.1m | −SEK 58.4m | −SEK 104.7m | −SEK 46.4m | −SEK 33.7m |
Latest quarters
By quarter end
| Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | Jun 2024 | Mar 2024 | |
|---|---|---|---|---|---|---|---|---|
| Operating income | −SEK 38.7m | −SEK 20.4m | −SEK 24.1m | −SEK 30.2m | −SEK 34.7m | −SEK 22.7m | −SEK 37.9m | −SEK 35.3m |
| Net income | −SEK 41.1m | −SEK 19.0m | −SEK 22.7m | −SEK 30.5m | −SEK 31.5m | −SEK 23.0m | −SEK 38.2m | −SEK 35.6m |
| Diluted earnings per share | -0.74 | -0.37 | -0.45 | -0.61 | -0.63 | -0.46 | -0.76 | -0.80 |
| Total assets | SEK 628.3m | SEK 618.6m | SEK 645.3m | SEK 667.3m | SEK 696.4m | SEK 719.9m | SEK 741.0m | SEK 714.9m |
| Cash and short-term investments | SEK 64.7m | SEK 37.6m | SEK 58.9m | SEK 84.7m | SEK 101.9m | SEK 109.3m | SEK 130.2m | SEK 88.2m |
| Debt | SEK 16.1m | SEK 17.5m | SEK 18.0m | SEK 18.5m | SEK 20.0m | SEK 20.6m | SEK 21.1m | SEK 21.6m |
| Shareholders' equity | SEK 585.1m | SEK 576.3m | SEK 597.3m | SEK 614.5m | SEK 645.1m | SEK 675.7m | SEK 698.4m | SEK 672.1m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Operating income | -5.3% | 5.7% | 10.0% |
| Net income | -6.6% | 4.9% | 9.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -2.6 | -3.0 | -2.4 | -3.4 | -5.9 | -126.4 | -299.8 | -72.0 | -41.3 | -319.9 |
| Price to sales | — | — | — | 266.3 | — | — | — | — | — | — |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 20-to-1 reverse split · 3 Jun 2024
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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