M 
7.72
0.00%
Close of 9 Nov 2026, in PLN
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in PLN, from our data supplier.
Revenue
PLN 15.8m
FY2016FY2025
Net income
−PLN 62.6m
FY2016FY2025
Free cash flow
−PLN 42.5m
FY2016FY2025
Shareholders' equity
PLN 48.8m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 15.8m | PLN 69.0m | PLN 151.7m | PLN 164.0m | PLN 56.9m | PLN 1.6m | — | — | — | — |
| Gross profit | −PLN 17.4m | PLN 41.2m | PLN 114.6m | PLN 66.0m | PLN 28.2m | −PLN 9.8m | −PLN 466,000 | −PLN 797,000 | −PLN 971,000 | −PLN 758,000 |
| Research and development | PLN 75,000 | PLN 902,000 | PLN 6.2m | PLN 15.1m | PLN 13.6m | PLN 35.7m | PLN 40.7m | PLN 44.9m | PLN 43.3m | PLN 44.2m |
| Operating income | −PLN 62.5m | −PLN 7.6m | PLN 55.1m | PLN 28.2m | −PLN 11.0m | −PLN 56.4m | −PLN 62.9m | −PLN 66.4m | −PLN 62.4m | −PLN 55.5m |
| Net income | −PLN 62.6m | −PLN 6.3m | PLN 41.3m | PLN 23.2m | PLN 1.9m | −PLN 57.2m | −PLN 64.7m | −PLN 68.9m | −PLN 57.9m | −PLN 55.8m |
| Diluted earnings per share | -3.87 | -0.39 | 2.54 | 1.43 | 0.12 | -4.14 | -4.72 | -5.89 | -4.90 | -4.92 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | PLN 110.4m | PLN 159.5m | PLN 208.3m | PLN 186.2m | PLN 184.2m | PLN 78.3m | PLN 113.5m | PLN 144.7m | PLN 82.4m | PLN 91.2m |
| Cash and short-term investments | PLN 6.4m | PLN 38.4m | PLN 47.8m | PLN 53.6m | PLN 48.7m | PLN 2.4m | PLN 28.0m | PLN 58.4m | PLN 1.0m | PLN 14.8m |
| Total liabilities | PLN 55.1m | PLN 48.0m | PLN 90.5m | PLN 109.7m | PLN 130.9m | PLN 155.7m | PLN 135.1m | PLN 102.6m | PLN 136.6m | PLN 87.5m |
| Debt | PLN 12.7m | PLN 4.6m | PLN 35.8m | PLN 7.3m | PLN 20.4m | PLN 36.7m | PLN 21.9m | PLN 5.6m | PLN 66.0m | PLN 12.7m |
| Shareholders' equity | PLN 48.8m | PLN 111.4m | PLN 117.8m | PLN 76.5m | PLN 53.3m | −PLN 77.4m | −PLN 21.6m | PLN 42.1m | −PLN 54.2m | PLN 3.7m |
| Shares outstanding | 16m | 16m | 16m | 16m | 16m | 14m | 14m | 12m | 12m | 11m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −PLN 41.6m | PLN 39.9m | −PLN 2.3m | PLN 38.8m | −PLN 32.9m | −PLN 35.2m | −PLN 33.8m | −PLN 38.9m | −PLN 54.1m | −PLN 15.2m |
| Capital spending | −PLN 892,000 | −PLN 12.3m | −PLN 38.0m | −PLN 16.7m | −PLN 31.6m | −PLN 3.4m | −PLN 9.2m | −PLN 6.9m | −PLN 7.0m | −PLN 2.5m |
| Free cash flow | −PLN 42.5m | PLN 27.5m | −PLN 40.3m | PLN 22.1m | −PLN 64.5m | −PLN 38.6m | −PLN 43.0m | −PLN 45.8m | −PLN 61.2m | −PLN 17.7m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 3.3m | PLN 4.6m | PLN 5.7m | PLN 4.1m | PLN 3.3m | PLN 2.7m | PLN 4.8m | PLN 516,000 |
| Gross profit | −PLN 3.4m | −PLN 2.8m | −PLN 3.0m | −PLN 3.3m | −PLN 5.3m | −PLN 5.8m | −PLN 12.1m | PLN 398,000 |
| Operating income | −PLN 14.1m | −PLN 9.5m | −PLN 12.9m | −PLN 11.0m | −PLN 14.6m | −PLN 14.1m | −PLN 16.2m | −PLN 16.3m |
| Net income | −PLN 14.9m | −PLN 9.7m | −PLN 21.2m | −PLN 10.8m | −PLN 15.4m | −PLN 15.3m | −PLN 17.9m | −PLN 16.3m |
| Diluted earnings per share | -0.92 | -0.60 | -1.31 | -0.67 | -0.95 | -0.94 | -1.11 | -1.01 |
| Cash from operations | −PLN 6.0m | −PLN 12.0m | −PLN 9.0m | −PLN 5.0m | −PLN 12.0m | −PLN 14.0m | −PLN 8.0m | −PLN 1.0m |
| Capital spending | — | — | — | — | — | — | — | −PLN 1.0m |
| Free cash flow | — | — | — | — | — | — | — | −PLN 2.0m |
| Total assets | PLN 102.2m | PLN 109.8m | PLN 110.4m | PLN 120.5m | PLN 128.0m | PLN 143.5m | PLN 159.5m | PLN 179.3m |
| Cash and short-term investments | — | PLN 6.6m | PLN 6.4m | PLN 4.6m | PLN 10.8m | PLN 23.7m | PLN 38.4m | PLN 47.0m |
| Debt | PLN 24.3m | PLN 24.4m | PLN 11.7m | PLN 1.9m | PLN 1.6m | PLN 2.0m | PLN 2.9m | PLN 1.9m |
| Shareholders' equity | PLN 24.2m | PLN 39.1m | PLN 48.8m | PLN 70.0m | PLN 80.8m | PLN 96.3m | PLN 111.4m | PLN 129.3m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -54.2% | 58.2% | 19.1% |
| Operating income | — | 2.1% | 31.4% |
| Net income | — | 1.8% | 29.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 28.0% | 51.0% | 48.5% | — |
| Operating margin | -82.7% | 3.3% | -11.8% | — |
| Net margin | -81.3% | -1.1% | -13.0% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -1.8 | -22.7 | 7.2 | 14.6 | 499.4 | -5.0 | -16.3 | -14.7 | -23.0 | -15.1 |
| Price to sales | 7.2 | 2.1 | 1.9 | 2.1 | 16.7 | 180.3 | — | — | — | — |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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