L 
8.38
+6.08%
Close of 9 Nov 2026, in NOK
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in NOK, from our data supplier.
Revenue
—
FY2017FY2025
Net income
−NOK 60.0m
FY2017FY2025
Free cash flow
−NOK 59.9m
FY2017FY2025
Shareholders' equity
NOK 61.8m
FY2017FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | NOK 11.1m | NOK 4.0m | NOK 1.4m | NOK 17,000 | NOK 3,000 | NOK 310,000 | NOK 337,000 | NOK 1.1m |
| Research and development | NOK 13.8m | NOK 72.6m | NOK 63.2m | NOK 51.0m | NOK 28.8m | NOK 16.0m | NOK 14.0m | NOK 39.9m | — |
| Operating income | −NOK 64.0m | −NOK 95.9m | −NOK 96.8m | −NOK 65.7m | −NOK 48.0m | −NOK 42.4m | −NOK 33.8m | −NOK 62.4m | −NOK 63.8m |
| Net income | −NOK 60.0m | −NOK 94.3m | −NOK 87.9m | −NOK 56.0m | −NOK 48.0m | −NOK 42.1m | −NOK 33.2m | −NOK 61.5m | −NOK 63.4m |
| Diluted earnings per share | -1.55 | -2.43 | -2.27 | -1.45 | -1.24 | -1.09 | -0.86 | -1.59 | -1.64 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Total assets | NOK 81.5m | NOK 146.5m | NOK 63.9m | NOK 152.0m | NOK 203.0m | NOK 32.6m | NOK 17.4m | NOK 58.9m | NOK 47.1m |
| Cash and short-term investments | NOK 72.4m | NOK 130.8m | NOK 50.5m | NOK 145.2m | NOK 197.3m | NOK 28.4m | NOK 12.8m | NOK 49.6m | NOK 35.0m |
| Total liabilities | NOK 19.8m | NOK 38.6m | NOK 12.6m | NOK 16.9m | NOK 13.3m | NOK 12.7m | NOK 3.9m | NOK 17.9m | NOK 35.3m |
| Debt | NOK 1.2m | NOK 1.9m | NOK 41,000 | NOK 476,000 | — | — | — | — | — |
| Shareholders' equity | NOK 61.8m | NOK 107.9m | NOK 51.3m | NOK 135.1m | NOK 189.6m | NOK 19.9m | NOK 13.6m | NOK 41.0m | NOK 11.8m |
| Shares outstanding | 39m | 39m | 39m | 39m | 39m | 39m | 39m | 39m | 39m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −NOK 59.9m | −NOK 70.4m | −NOK 96.0m | −NOK 52.1m | −NOK 44.9m | −NOK 24.3m | −NOK 36.8m | −NOK 72.6m | −NOK 69.7m |
| Capital spending | — | — | −NOK 49,000 | −NOK 154,000 | −NOK 154,000 | −NOK 154,000 | −NOK 154,000 | — | — |
| Free cash flow | −NOK 59.9m | −NOK 70.4m | −NOK 96.0m | −NOK 52.3m | −NOK 45.1m | −NOK 24.5m | −NOK 37.0m | −NOK 72.6m | −NOK 69.7m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | — | NOK 377,000 | NOK 231,000 |
| Operating income | −NOK 26.8m | −NOK 26.8m | −NOK 21.2m | −NOK 24.3m | −NOK 5.2m | −NOK 13.4m | −NOK 32.6m | −NOK 23.0m |
| Net income | −NOK 26.7m | −NOK 25.9m | −NOK 18.7m | −NOK 23.3m | −NOK 5.1m | −NOK 12.9m | −NOK 31.9m | −NOK 22.7m |
| Diluted earnings per share | -0.69 | -0.67 | -0.48 | -0.60 | -0.13 | -0.33 | -0.82 | -0.59 |
| Cash from operations | −NOK 28.0m | −NOK 28.0m | −NOK 59.0m | −NOK 40.0m | −NOK 30.0m | −NOK 12.0m | −NOK 70.0m | −NOK 53.0m |
| Total assets | NOK 100.3m | NOK 128.8m | NOK 81.5m | NOK 95.5m | NOK 110.1m | NOK 130.1m | NOK 146.5m | NOK 56.3m |
| Cash and short-term investments | — | — | NOK 72.4m | NOK 90.0m | NOK 100.3m | NOK 117.9m | NOK 130.8m | NOK 43.5m |
| Debt | — | — | NOK 1.2m | NOK 1.5m | NOK 1.7m | NOK 2.0m | NOK 1.9m | NOK 2.1m |
| Shareholders' equity | NOK 86.6m | NOK 114.5m | NOK 61.8m | NOK 78.4m | NOK 90.0m | NOK 95.2m | NOK 107.9m | NOK 36.8m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Operating income | -0.9% | 8.6% | — |
| Net income | 2.3% | 7.3% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | -6.4 | -2.4 | -2.1 | -5.4 | -11.1 |
| Price to sales | — | 20.5 | 47.2 | 213.3 | — |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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