I 
2.91
+0.69%
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
SEK 47.3m
FY2016FY2025
Net income
−SEK 45.9m
FY2016FY2025
Free cash flow
−SEK 79.6m
FY2016FY2025
Shareholders' equity
SEK 154.5m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 47.3m | SEK 110.3m | SEK 99.1m | SEK 32.0m | SEK 57.2m | SEK 39.5m | SEK 49.1m | SEK 20.2m | SEK 25.0m | SEK 24.2m |
| Research and development | — | SEK 200,000 | SEK 100,000 | SEK 956,000 | SEK 1.2m | SEK 1.2m | SEK 1.2m | SEK 1.2m | SEK 310,000 | — |
| Operating income | −SEK 51.3m | −SEK 31.3m | −SEK 31.5m | −SEK 47.0m | −SEK 32.1m | −SEK 23.0m | −SEK 26.4m | −SEK 37.6m | −SEK 30.1m | −SEK 6.9m |
| Net income | −SEK 45.9m | −SEK 29.6m | −SEK 32.0m | −SEK 47.0m | −SEK 32.1m | −SEK 23.0m | −SEK 26.4m | −SEK 37.6m | −SEK 29.9m | −SEK 6.9m |
| Diluted earnings per share | -0.51 | -0.34 | -0.37 | -0.81 | -0.55 | -0.43 | -0.49 | -0.86 | -0.68 | -0.20 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SEK 206.0m | SEK 269.2m | SEK 282.5m | SEK 152.6m | SEK 173.4m | SEK 95.8m | SEK 114.2m | SEK 97.1m | SEK 122.3m | SEK 55.9m |
| Cash and short-term investments | SEK 37.4m | SEK 29.8m | SEK 119.8m | SEK 58.7m | SEK 129.5m | SEK 49.6m | SEK 78.8m | SEK 33.7m | SEK 65.4m | SEK 22.1m |
| Total liabilities | SEK 51.5m | SEK 86.5m | SEK 73.0m | SEK 38.7m | SEK 12.8m | SEK 16.7m | SEK 12.2m | SEK 32.8m | SEK 20.3m | SEK 18.7m |
| Debt | SEK 27.5m | — | −SEK 52.4m | SEK 20.1m | — | SEK 5.6m | SEK 2.4m | −SEK 22.0m | SEK 2.1m | −SEK 10.3m |
| Shareholders' equity | SEK 154.5m | SEK 182.7m | SEK 209.5m | SEK 113.9m | SEK 160.6m | SEK 79.0m | SEK 102.0m | SEK 64.3m | SEK 102.0m | SEK 37.2m |
| Shares outstanding | 89m | 87m | 87m | 58m | 58m | 53m | 53m | 44m | 44m | 35m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −SEK 39.8m | −SEK 72.9m | −SEK 42.1m | −SEK 42.4m | −SEK 31.8m | −SEK 29.3m | −SEK 31.8m | −SEK 13.3m | −SEK 43.8m | −SEK 7.4m |
| Capital spending | −SEK 39.8m | −SEK 16.9m | −SEK 25.4m | −SEK 25.9m | −SEK 2.1m | −SEK 2.1m | −SEK 172,000 | −SEK 5.3m | −SEK 7.6m | −SEK 2.1m |
| Free cash flow | −SEK 79.6m | −SEK 89.8m | −SEK 67.5m | −SEK 68.3m | −SEK 33.9m | −SEK 31.4m | −SEK 32.0m | −SEK 18.6m | −SEK 51.4m | −SEK 9.5m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 9.7m | SEK 12.7m | SEK 17.6m | SEK 13.7m | SEK 7.0m | SEK 9.7m | SEK 42.5m | SEK 31.7m |
| Operating income | −SEK 13.8m | −SEK 12.3m | −SEK 8.1m | −SEK 13.2m | SEK 15.8m | −SEK 11.6m | −SEK 3.7m | −SEK 6.7m |
| Net income | −SEK 13.2m | −SEK 11.3m | −SEK 3.8m | −SEK 12.1m | −SEK 15.8m | −SEK 14.2m | −SEK 3.1m | −SEK 6.5m |
| Diluted earnings per share | -0.13 | -0.11 | -0.04 | -0.14 | -0.18 | -0.16 | -0.04 | -0.07 |
| Cash from operations | −SEK 2.0m | −SEK 14.0m | −SEK 3.0m | −SEK 16.0m | −SEK 16.0m | −SEK 3.0m | −SEK 33.0m | −SEK 13.0m |
| Capital spending | — | −SEK 14.0m | −SEK 3.0m | −SEK 16.0m | −SEK 16.0m | — | — | — |
| Free cash flow | — | −SEK 28.0m | −SEK 6.0m | −SEK 32.0m | −SEK 32.0m | — | — | — |
| Total assets | SEK 191.4m | SEK 182.6m | SEK 206.0m | SEK 188.4m | SEK 223.5m | SEK 236.9m | SEK 269.2m | SEK 260.4m |
| Cash and short-term investments | SEK 15.3m | SEK 18.3m | SEK 37.4m | SEK 12.9m | SEK 28.1m | SEK 23.6m | SEK 29.8m | SEK 62.4m |
| Debt | — | SEK 22.9m | SEK 26.8m | — | — | — | — | — |
| Shareholders' equity | SEK 133.6m | SEK 145.1m | SEK 154.5m | SEK 135.1m | SEK 147.4m | SEK 164.6m | SEK 182.7m | SEK 183.3m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 13.9% | 3.7% | 7.7% |
| Operating income | 3.0% | 17.4% | 15.6% |
| Net income | -0.8% | 14.8% | 13.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -52.4% | -55.8% | -56.1% | -62.5% |
| Net margin | -47.9% | -53.5% | -54.4% | -61.3% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -2.8 | -6.3 | -5.3 | -3.1 | -14.6 | -27.5 | -14.0 | -2.5 | -7.9 | -42.0 |
| Price to sales | 2.7 | 1.7 | 1.7 | 4.5 | 8.2 | 16.0 | 7.5 | 4.6 | 9.4 | 12.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 4-for-1 split · 17 Oct 2007
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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