M 
13.48
+0.45%
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 122.8m
FY2016FY2025
Net income
−PLN 42.4m
FY2016FY2025
Free cash flow
−PLN 19.2m
FY2016FY2025
Shareholders' equity
PLN 103.6m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 122.8m | PLN 162.3m | PLN 193.3m | PLN 281.7m | PLN 188.8m | PLN 127.3m | PLN 93.4m | PLN 123.3m | PLN 54.3m | PLN 34.5m |
| Research and development | PLN 410,000 | PLN 273,000 | PLN 4.5m | PLN 9.2m | PLN 4.4m | PLN 3.5m | PLN 8.0m | PLN 5.4m | PLN 6.5m | PLN 3.5m |
| Operating income | −PLN 35.4m | −PLN 31.4m | PLN 3.1m | PLN 6.9m | PLN 4.4m | PLN 11.5m | PLN 6.7m | PLN 7.2m | PLN 7.3m | PLN 2.8m |
| Net income | −PLN 42.4m | −PLN 40.8m | −PLN 4.6m | PLN 215,000 | PLN 1.7m | PLN 10.2m | PLN 3.5m | PLN 5.7m | PLN 6.1m | PLN 2.1m |
| Diluted earnings per share | -5.75 | -5.53 | -0.63 | 0.03 | 0.27 | 1.55 | 0.61 | 0.97 | 1.39 | 0.29 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | PLN 491.8m | PLN 496.4m | PLN 578.7m | PLN 431.2m | PLN 390.2m | PLN 303.5m | PLN 216.2m | PLN 179.3m | PLN 135.5m | PLN 92.3m |
| Cash and short-term investments | PLN 7.2m | PLN 6.0m | PLN 20.7m | PLN 27.1m | PLN 24.7m | PLN 20.5m | PLN 15.1m | PLN 14.7m | PLN 2.4m | PLN 1.6m |
| Total liabilities | PLN 260.3m | PLN 350.0m | PLN 380.8m | PLN 284.8m | PLN 244.0m | PLN 159.2m | PLN 138.8m | PLN 104.5m | PLN 99.8m | PLN 67.8m |
| Debt | PLN 157.7m | PLN 133.7m | PLN 148.8m | PLN 118.7m | PLN 93.1m | PLN 58.6m | PLN 47.8m | PLN 28.4m | PLN 35.0m | PLN 28.5m |
| Shareholders' equity | PLN 103.6m | PLN 146.5m | PLN 197.9m | PLN 146.4m | PLN 146.2m | PLN 144.3m | PLN 77.4m | PLN 74.8m | PLN 35.7m | PLN 24.5m |
| Shares outstanding | 7m | 7m | 7m | 6m | 6m | 7m | 6m | 6m | 4m | 7m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −PLN 9.6m | PLN 37.6m | PLN 6.2m | PLN 10.3m | PLN 10.2m | −PLN 21.9m | −PLN 7.6m | −PLN 4.2m | PLN 2.9m | −PLN 3.0m |
| Capital spending | −PLN 9.6m | −PLN 41.2m | −PLN 175.2m | −PLN 46.0m | −PLN 58.8m | −PLN 53.2m | −PLN 40.2m | −PLN 25.6m | −PLN 31.1m | −PLN 8.5m |
| Free cash flow | −PLN 19.2m | −PLN 3.6m | −PLN 169.0m | −PLN 35.7m | −PLN 48.6m | −PLN 75.1m | −PLN 47.7m | −PLN 29.8m | −PLN 28.2m | −PLN 11.5m |
| Dividends paid | — | — | — | — | — | — | −PLN 1.1m | −PLN 1.1m | −PLN 1.1m | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 38.3m | PLN 34.8m | PLN 50.8m | PLN 36.1m | PLN 17.6m | PLN 18.3m | PLN 48.6m | PLN 42.3m |
| Operating income | −PLN 8.0m | −PLN 8.7m | −PLN 3.2m | −PLN 3.9m | −PLN 13.8m | −PLN 13.5m | −PLN 13.9m | −PLN 18.3m |
| Net income | −PLN 2.0m | −PLN 6.4m | −PLN 5.7m | −PLN 6.2m | −PLN 13.2m | −PLN 17.4m | −PLN 16.2m | −PLN 21.6m |
| Diluted earnings per share | -0.28 | -0.87 | -0.77 | -0.84 | -1.78 | -2.35 | -2.20 | -2.93 |
| Cash from operations | PLN 19.0m | −PLN 7.0m | −PLN 13.0m | PLN 10.0m | −PLN 5.0m | — | PLN 41.0m | −PLN 16.0m |
| Capital spending | −PLN 1.0m | −PLN 1.0m | −PLN 8.0m | — | — | — | — | −PLN 7.0m |
| Free cash flow | PLN 18.0m | −PLN 8.0m | −PLN 21.0m | — | — | — | — | −PLN 23.0m |
| Total assets | PLN 466.3m | PLN 496.1m | PLN 491.8m | PLN 502.1m | PLN 471.8m | PLN 484.9m | PLN 496.4m | PLN 535.8m |
| Cash and short-term investments | PLN 798,000 | PLN 4.2m | PLN 7.2m | PLN 10.0m | PLN 4.1m | PLN 3.6m | PLN 6.0m | PLN 1.9m |
| Debt | PLN 91.1m | PLN 150.0m | PLN 144.2m | PLN 133.9m | PLN 79.5m | PLN 117.0m | PLN 117.8m | PLN 125.1m |
| Shareholders' equity | PLN 92.1m | PLN 97.2m | PLN 103.6m | PLN 109.0m | PLN 115.8m | PLN 128.0m | PLN 146.5m | PLN 173.3m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -24.2% | -0.7% | 9.2% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -23.4% | -7.5% | -3.8% | -0.2% |
| Net margin | -29.2% | -11.5% | -7.0% | -3.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Price to earnings | -2.6 | -3.4 | -85.8 | — | 334.2 | 54.2 | 42.6 | 28.8 |
| Price to sales | 0.9 | 0.8 | 2.1 | 1.3 | 3.1 | 4.3 | 1.6 | 1.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 27 Jun 2019.
| FY2019 | |
|---|---|
| Paid in the year | 0.20 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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