I 
2.10
+2.44%
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 57.5m
FY2016FY2025
Net income
−SEK 110.0m
FY2016FY2025
Free cash flow
−SEK 55.2m
FY2016FY2025
Shareholders' equity
SEK 30.7m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 57.5m | SEK 94.6m | SEK 5.7m | SEK 61.1m | SEK 207.8m | SEK 300,000 | SEK 26,000 | SEK 18,000 | SEK 109,000 | SEK 144,000 |
| Research and development | SEK 130.8m | SEK 163.7m | SEK 151.3m | SEK 146.2m | SEK 39.4m | SEK 76.2m | SEK 79.4m | SEK 58.9m | SEK 45.2m | SEK 39.0m |
| Operating income | −SEK 92.3m | −SEK 75.1m | −SEK 180.8m | −SEK 113.1m | SEK 52.6m | −SEK 91.5m | −SEK 95.8m | −SEK 73.9m | −SEK 54.2m | −SEK 49.2m |
| Net income | −SEK 110.0m | −SEK 83.1m | −SEK 177.8m | −SEK 114.2m | SEK 51.8m | −SEK 91.8m | −SEK 96.3m | −SEK 74.1m | −SEK 56.2m | −SEK 42.7m |
| Diluted earnings per share | -1.34 | -1.60 | -3.43 | -2.20 | 1.00 | -1.89 | -2.34 | -1.80 | -1.58 | -1.66 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SEK 138.2m | SEK 136.2m | SEK 177.1m | SEK 323.6m | SEK 472.4m | SEK 370.1m | SEK 208.1m | SEK 224.9m | SEK 163.0m | SEK 113.1m |
| Cash and short-term investments | SEK 81.9m | SEK 66.9m | SEK 111.3m | SEK 252.8m | SEK 401.9m | SEK 277.0m | SEK 110.5m | SEK 134.4m | SEK 74.7m | SEK 25.7m |
| Total liabilities | SEK 107.5m | SEK 103.6m | SEK 61.4m | SEK 32.7m | SEK 73.0m | SEK 22.2m | SEK 26.2m | SEK 12.5m | SEK 8.0m | SEK 9.2m |
| Debt | SEK 30.0m | SEK 60.4m | SEK 27.6m | SEK 4.0m | SEK 6.6m | SEK 2.9m | SEK 4.5m | — | — | SEK 400,000 |
| Shareholders' equity | SEK 30.7m | SEK 32.6m | SEK 115.8m | SEK 290.8m | SEK 399.5m | SEK 347.9m | SEK 181.8m | SEK 212.5m | SEK 155.0m | SEK 103.9m |
| Shares outstanding | 82m | 52m | 52m | 52m | 52m | 48m | 41m | 41m | 36m | 26m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −SEK 55.2m | −SEK 65.6m | −SEK 164.8m | −SEK 142.6m | SEK 128.6m | −SEK 89.2m | −SEK 91.2m | −SEK 70.8m | −SEK 57.7m | −SEK 40.8m |
| Capital spending | — | −SEK 199,000 | −SEK 293,000 | −SEK 3.4m | −SEK 708,000 | −SEK 394,000 | −SEK 137,000 | −SEK 1.1m | −SEK 222,000 | −SEK 219,000 |
| Free cash flow | −SEK 55.2m | −SEK 65.8m | −SEK 165.1m | −SEK 146.0m | SEK 127.9m | −SEK 89.6m | −SEK 91.3m | −SEK 71.8m | −SEK 58.0m | −SEK 41.0m |
| Dividends paid | — | — | — | — | −SEK 3.2m | — | — | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 6.4m | SEK 39.4m | SEK 14.7m | SEK 18.8m | SEK 19.5m | SEK 4.4m | SEK 42.8m | SEK 9.0m |
| Operating income | −SEK 17.0m | SEK 9.6m | −SEK 21.9m | −SEK 18.5m | −SEK 25.7m | −SEK 28.6m | −SEK 3.0m | −SEK 29.4m |
| Net income | −SEK 19.2m | SEK 9.1m | −SEK 23.5m | −SEK 20.2m | −SEK 32.3m | −SEK 34.0m | −SEK 5.4m | −SEK 31.7m |
| Diluted earnings per share | -0.23 | 0.11 | -0.29 | -0.25 | -0.39 | -0.41 | -0.10 | -0.61 |
| Cash from operations | −SEK 13.0m | −SEK 28.0m | −SEK 24.0m | SEK 5.0m | −SEK 42.0m | SEK 6.0m | −SEK 22.0m | −SEK 4.0m |
| Total assets | SEK 182.4m | SEK 135.0m | SEK 138.2m | SEK 170.5m | SEK 116.5m | SEK 159.7m | SEK 136.2m | SEK 160.3m |
| Cash and short-term investments | SEK 34.2m | SEK 50.8m | SEK 81.9m | SEK 110.1m | SEK 53.6m | SEK 88.6m | SEK 66.9m | SEK 90.4m |
| Debt | SEK 24.2m | SEK 27.1m | SEK 33.5m | SEK 29.8m | SEK 75.8m | SEK 66.5m | SEK 60.4m | SEK 60.3m |
| Shareholders' equity | SEK 97.1m | SEK 39.8m | SEK 30.7m | SEK 54.2m | −SEK 27.7m | SEK 4.6m | SEK 32.6m | SEK 38.0m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -2.0% | 186.1% | 34.9% |
| Operating income | -6.5% | 0.2% | 12.8% |
| Net income | -1.2% | 3.7% | 24.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -110.1% | -210.7% | -117.2% | -186.2% |
| Net margin | -127.0% | -221.6% | -123.0% | -187.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -1.5 | -1.4 | -0.5 | -1.3 | 3.3 | -1.7 | -1.1 | -1.3 | -0.7 |
| Price to sales | 2.8 | 1.2 | 14.2 | 2.4 | 0.8 | — | — | — | 340.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 5-for-1 split · 28 May 2019
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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