I 
0.29
+7.55%
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 86.1m
FY2016FY2025
Net income
−SEK 185.3m
FY2016FY2025
Free cash flow
−SEK 80.4m
FY2016FY2025
Shareholders' equity
SEK 283.8m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 86.1m | SEK 103.9m | SEK 117.6m | SEK 87.7m | SEK 77.3m | SEK 36.8m | SEK 35.8m | SEK 30.1m | SEK 29.2m | SEK 22.9m |
| Research and development | SEK 80.7m | SEK 80.6m | SEK 73.4m | SEK 62.6m | SEK 17.3m | SEK 5.6m | SEK 3.9m | SEK 2.3m | — | — |
| Operating income | −SEK 195.3m | −SEK 223.3m | −SEK 140.6m | −SEK 147.4m | −SEK 25.8m | −SEK 19.3m | −SEK 16.7m | −SEK 13.6m | −SEK 2.9m | −SEK 14.4m |
| Net income | −SEK 185.3m | −SEK 216.1m | −SEK 132.5m | −SEK 136.9m | −SEK 23.9m | −SEK 19.6m | −SEK 17.7m | −SEK 14.2m | −SEK 3.5m | −SEK 15.1m |
| Diluted earnings per share | -0.77 | -1.89 | -3.21 | -3.57 | -0.76 | -0.85 | -0.93 | -0.90 | -0.42 | -1.82 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SEK 398.5m | SEK 738.2m | SEK 760.2m | SEK 863.4m | SEK 898.9m | SEK 137.9m | SEK 112.4m | SEK 76.6m | SEK 69.4m | SEK 37.1m |
| Cash and short-term investments | SEK 3.0m | SEK 7.6m | SEK 13.6m | SEK 17.6m | SEK 71.3m | SEK 65.2m | SEK 39.8m | SEK 32.3m | SEK 6.0m | SEK 19.7m |
| Total liabilities | SEK 114.6m | SEK 117.2m | SEK 128.5m | SEK 124.3m | SEK 136.8m | SEK 20.1m | SEK 25.1m | SEK 29.7m | SEK 33.1m | SEK 27.7m |
| Debt | SEK 18.7m | SEK 12.6m | SEK 23.3m | SEK 15.0m | SEK 1.2m | SEK 2.3m | SEK 5.8m | SEK 10.7m | SEK 12.2m | SEK 12.5m |
| Shareholders' equity | SEK 283.8m | SEK 621.0m | SEK 631.6m | SEK 739.1m | SEK 762.0m | SEK 117.8m | SEK 87.4m | SEK 46.9m | SEK 36.4m | SEK 9.5m |
| Shares outstanding | 240m | 114m | 41m | 38m | 31m | 23m | 19m | 16m | 8m | 8m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −SEK 40.2m | −SEK 59.9m | −SEK 42.7m | −SEK 42.0m | −SEK 27.4m | −SEK 11.1m | −SEK 2.2m | −SEK 7.0m | −SEK 2.2m | −SEK 5.9m |
| Capital spending | −SEK 40.2m | −SEK 1.7m | −SEK 867,000 | −SEK 26.3m | −SEK 15.8m | −SEK 10.0m | −SEK 16.2m | −SEK 20.4m | −SEK 11.3m | −SEK 5.1m |
| Free cash flow | −SEK 80.4m | −SEK 61.6m | −SEK 43.6m | −SEK 68.3m | −SEK 43.3m | −SEK 21.2m | −SEK 18.4m | −SEK 27.4m | −SEK 13.5m | −SEK 11.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 27.3m | SEK 22.1m | SEK 20.3m | SEK 26.2m | SEK 20.6m | SEK 19.0m | SEK 8.3m | SEK 30.3m |
| Operating income | −SEK 35.5m | −SEK 40.6m | −SEK 64.7m | −SEK 37.8m | −SEK 40.3m | −SEK 52.0m | −SEK 99.8m | −SEK 48.0m |
| Net income | −SEK 32.5m | −SEK 38.4m | −SEK 62.6m | −SEK 35.4m | −SEK 37.9m | −SEK 49.5m | −SEK 98.8m | −SEK 45.5m |
| Diluted earnings per share | -0.08 | -0.10 | -0.26 | -0.15 | -0.16 | -0.21 | -0.86 | -0.40 |
| Cash from operations | SEK 1.0m | −SEK 4.0m | — | −SEK 18.0m | −SEK 7.0m | −SEK 13.0m | −SEK 16.0m | −SEK 3.0m |
| Capital spending | −SEK 1.0m | −SEK 4.0m | — | −SEK 18.0m | −SEK 7.0m | — | — | — |
| Free cash flow | SEK 0 | −SEK 8.0m | — | −SEK 36.0m | −SEK 14.0m | — | — | — |
| Total assets | SEK 357.5m | SEK 381.2m | SEK 398.5m | SEK 528.8m | SEK 555.6m | SEK 616.4m | SEK 738.2m | SEK 735.5m |
| Cash and short-term investments | SEK 3.4m | SEK 1.8m | SEK 3.0m | SEK 1.6m | SEK 6.5m | SEK 4.3m | SEK 7.6m | SEK 3.8m |
| Debt | SEK 30.9m | SEK 18.1m | SEK 8.1m | SEK 29.0m | SEK 17.7m | SEK 25.3m | SEK 12.6m | SEK 18.6m |
| Shareholders' equity | SEK 231.6m | SEK 259.7m | SEK 283.8m | SEK 397.7m | SEK 440.5m | SEK 496.4m | SEK 621.0m | SEK 593.5m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -0.6% | 18.5% | 17.2% |
| Operating income | 9.8% | 58.9% | 41.4% |
| Net income | 10.6% | 56.7% | 39.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -220.3% | -178.8% | -147.6% | -124.9% |
| Net margin | -211.3% | -169.7% | -140.3% | -119.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -0.2 | -0.6 | -0.9 | -1.1 | -22.6 | -12.1 | -2.7 | -4.5 | -6.1 | -1.3 |
| Price to sales | 0.4 | 1.3 | 1.0 | 1.7 | 7.0 | 6.5 | 1.4 | 2.1 | 0.7 | 0.9 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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