L
9.66
+1.68%
Close of 9 Nov 2026, in SEK
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At a glance
Figures in SEK, from our data supplier.
Revenue
SEK 81.8m
FY2016FY2025
Net income
−SEK 3.3m
FY2016FY2025
Free cash flow
SEK 18.3m
FY2016FY2025
Shareholders' equity
SEK 115.1m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 81.8m | SEK 72.3m | SEK 68.9m | SEK 64.9m | SEK 57.9m | SEK 48.3m | SEK 40.9m | SEK 31.8m | SEK 23.8m | SEK 18.7m |
| Research and development | — | SEK 16.4m | SEK 14.2m | SEK 11.9m | SEK 9.6m | SEK 8.8m | SEK 7.1m | SEK 6.2m | SEK 5.6m | — |
| Operating income | −SEK 2.9m | SEK 615,914 | −SEK 3.4m | −SEK 12.4m | −SEK 12.8m | −SEK 17.9m | −SEK 16.4m | −SEK 5.4m | −SEK 4.0m | −SEK 4.5m |
| Net income | −SEK 3.3m | SEK 708,578 | −SEK 3.4m | −SEK 12.5m | −SEK 12.9m | −SEK 18.9m | −SEK 16.7m | −SEK 5.5m | −SEK 4.1m | −SEK 4.9m |
| Diluted earnings per share | -0.18 | 0.04 | -0.21 | -0.75 | -0.94 | -1.42 | -1.70 | -0.58 | -0.64 | -0.75 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SEK 136.9m | SEK 101.3m | SEK 101.3m | SEK 107.2m | SEK 85.3m | SEK 75.9m | SEK 50.9m | SEK 63.8m | SEK 39.0m | SEK 41.8m |
| Cash and short-term investments | SEK 16.4m | SEK 7.1m | SEK 11.0m | SEK 22.9m | SEK 11.2m | SEK 14.7m | SEK 1.2m | SEK 22.4m | SEK 5.7m | SEK 11.9m |
| Total liabilities | SEK 21.8m | SEK 15.9m | SEK 16.8m | SEK 19.1m | SEK 19.2m | SEK 21.8m | SEK 17.6m | SEK 14.2m | SEK 13.1m | SEK 11.7m |
| Debt | — | — | — | — | SEK 420,000 | SEK 1.9m | SEK 1.5m | SEK 2.5m | SEK 3.5m | SEK 5.6m |
| Shareholders' equity | SEK 115.1m | SEK 85.4m | SEK 84.5m | SEK 88.0m | SEK 66.1m | SEK 54.2m | SEK 33.3m | SEK 49.5m | SEK 25.9m | SEK 30.1m |
| Shares outstanding | 18m | 17m | 17m | 17m | 14m | 13m | 10m | 9m | 6m | 7m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | SEK 18.6m | SEK 15.8m | SEK 9.7m | −SEK 574,765 | −SEK 4.4m | −SEK 7.9m | −SEK 7.0m | SEK 459,857 | SEK 4.1m | SEK 107,409 |
| Capital spending | −SEK 342,000 | −SEK 19.8m | −SEK 21.5m | −SEK 21.7m | −SEK 22.9m | −SEK 19.4m | −SEK 13.5m | −SEK 11.9m | −SEK 8.3m | −SEK 6.3m |
| Free cash flow | SEK 18.3m | −SEK 4.0m | −SEK 11.8m | −SEK 22.2m | −SEK 27.3m | −SEK 27.3m | −SEK 20.6m | −SEK 11.4m | −SEK 4.2m | −SEK 6.1m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 25.1m | SEK 23.8m | SEK 24.2m | SEK 19.7m | SEK 19.0m | SEK 18.9m | SEK 19.5m | SEK 16.7m |
| Operating income | −SEK 162,000 | −SEK 888,000 | −SEK 1.4m | SEK 608,000 | −SEK 1.3m | −SEK 770,212 | SEK 717,441 | SEK 93,060 |
| Net income | −SEK 918,000 | −SEK 87,000 | −SEK 1.8m | SEK 584,000 | −SEK 1.3m | −SEK 775,330 | SEK 853,460 | SEK 89,761 |
| Diluted earnings per share | -0.05 | -0.00 | -0.10 | 0.03 | -0.07 | -0.04 | 0.05 | 0.01 |
| Cash from operations | SEK 2.0m | SEK 7.0m | SEK 6.0m | SEK 3.0m | SEK 2.0m | SEK 6.0m | SEK 3.0m | SEK 5.0m |
| Capital spending | — | — | — | — | −SEK 5.0m | −SEK 5.0m | −SEK 5.0m | −SEK 4.0m |
| Free cash flow | — | — | — | — | −SEK 3.0m | SEK 1.0m | −SEK 2.0m | SEK 1.0m |
| Total assets | SEK 135.1m | SEK 136.2m | SEK 136.9m | SEK 100.5m | SEK 102.6m | SEK 103.2m | SEK 101.3m | SEK 101.6m |
| Cash and short-term investments | SEK 11.8m | SEK 16.1m | SEK 16.4m | SEK 3.5m | SEK 4.2m | SEK 7.7m | SEK 7.1m | SEK 9.1m |
| Shareholders' equity | SEK 114.2m | SEK 114.9m | SEK 115.1m | SEK 84.2m | SEK 83.2m | SEK 84.6m | SEK 85.4m | SEK 84.5m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 8.0% | 11.1% | 16.9% |
| Operating income | -38.5% | -30.5% | 19.2% |
| Net income | -35.5% | -29.3% | 6.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -1.5% | -6.3% | -12.4% | -15.1% |
| Net margin | -1.7% | -6.4% | -12.8% | -15.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -84.6 | 181.6 | -41.6 | -14.1 | -18.5 | -22.9 | -7.5 | -15.4 | -14.6 | -10.4 |
| Price to sales | 3.5 | 1.8 | 2.1 | 2.7 | 4.1 | 9.0 | 3.0 | 2.7 | 2.5 | 2.7 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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