M 
0.22
+0.91%
Close of 9 Nov 2026, in DKK
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in DKK, from our data supplier.
Revenue
DKK 8.9m
FY2016FY2025
Net income
−DKK 7.2m
FY2016FY2025
Free cash flow
−DKK 3.6m
FY2016FY2025
Shareholders' equity
DKK 7.0m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | DKK 8.9m | DKK 11.2m | DKK 9.6m | DKK 6.2m | DKK 7.1m | DKK 9.1m | DKK 8.8m | DKK 7.5m | DKK 6.4m | DKK 5.2m |
| Research and development | DKK 6.2m | DKK 6.3m | DKK 5.6m | DKK 5.0m | DKK 4.4m | DKK 4.0m | DKK 954,000 | DKK 2.4m | DKK 1.1m | — |
| Operating income | −DKK 7.7m | −DKK 6.5m | −DKK 5.8m | −DKK 8.8m | −DKK 9.0m | −DKK 5.9m | DKK 487,000 | −DKK 2.2m | −DKK 4.1m | −DKK 3.3m |
| Net income | −DKK 7.2m | −DKK 6.0m | −DKK 5.4m | −DKK 7.9m | −DKK 8.2m | −DKK 4.7m | DKK 24,000 | −DKK 2.1m | −DKK 3.4m | −DKK 2.7m |
| Diluted earnings per share | -0.11 | -0.09 | -0.17 | -0.29 | -0.33 | -0.29 | 0.00 | -0.61 | -0.98 | -3.25 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | DKK 13.1m | DKK 18.5m | DKK 18.9m | DKK 18.9m | DKK 27.1m | DKK 28.6m | DKK 11.5m | DKK 13.2m | DKK 16.2m | DKK 10.7m |
| Cash and short-term investments | DKK 54,000 | DKK 1.9m | DKK 1.8m | DKK 572,000 | DKK 7.8m | DKK 12.5m | DKK 220,000 | DKK 1.8m | DKK 5.3m | DKK 3.3m |
| Total liabilities | DKK 6.1m | DKK 4.3m | DKK 8.0m | DKK 4.1m | DKK 5.6m | DKK 9.9m | DKK 7.6m | DKK 9.4m | DKK 11.2m | DKK 4.2m |
| Debt | DKK 1.8m | — | — | — | — | — | DKK 3.8m | DKK 4.0m | DKK 4.0m | — |
| Shareholders' equity | DKK 7.0m | DKK 14.2m | DKK 10.9m | DKK 14.8m | DKK 21.4m | DKK 18.7m | DKK 3.9m | DKK 3.8m | DKK 4.9m | DKK 6.2m |
| Shares outstanding | 67m | 67m | 32m | 27m | 25m | 16m | 10m | 3m | 3m | 1m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −DKK 1.5m | −DKK 7.0m | DKK 2.6m | −DKK 3.4m | −DKK 4.4m | DKK 2.9m | −DKK 210,000 | −DKK 2.5m | −DKK 2.5m | −DKK 2.5m |
| Capital spending | −DKK 2.1m | −DKK 2.3m | −DKK 2.8m | −DKK 5.0m | −DKK 11.3m | −DKK 4.7m | −DKK 1.1m | −DKK 2.0m | −DKK 118,000 | — |
| Free cash flow | −DKK 3.6m | −DKK 9.4m | −DKK 235,000 | −DKK 8.4m | −DKK 15.6m | −DKK 1.8m | −DKK 1.3m | −DKK 4.5m | −DKK 2.6m | −DKK 2.5m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sept 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | DKK 3.3m | DKK 3.7m | DKK 5.2m | DKK 5.6m | DKK 5.5m | DKK 2.8m | DKK 5.2m | DKK 2.6m |
| Operating income | −DKK 3.4m | −DKK 3.6m | −DKK 4.1m | −DKK 3.2m | −DKK 3.5m | −DKK 1.7m | −DKK 2.4m | −DKK 1.2m |
| Net income | −DKK 3.4m | −DKK 3.4m | −DKK 3.8m | −DKK 2.8m | −DKK 3.2m | −DKK 1.6m | −DKK 2.2m | −DKK 1.1m |
| Diluted earnings per share | -0.04 | -0.05 | -0.06 | -0.04 | -0.05 | -0.02 | -0.07 | -0.03 |
| Cash from operations | −DKK 1.0m | −DKK 2.0m | — | −DKK 3.0m | −DKK 3.0m | −DKK 1.0m | DKK 1.0m | — |
| Capital spending | — | — | — | −DKK 3.0m | −DKK 3.0m | — | −DKK 1.0m | — |
| Free cash flow | — | — | — | −DKK 6.0m | −DKK 6.0m | — | DKK 0 | — |
| Total assets | DKK 10.8m | DKK 13.1m | DKK 14.5m | DKK 18.5m | DKK 21.9m | DKK 21.9m | DKK 18.9m | DKK 18.9m |
| Cash and short-term investments | DKK 53,000 | DKK 54,000 | DKK 1.4m | DKK 1.9m | DKK 6.0m | DKK 6.0m | DKK 1.8m | DKK 1.8m |
| Debt | DKK 860,000 | DKK 1.8m | — | — | — | — | — | — |
| Shareholders' equity | DKK 6.7m | DKK 7.0m | DKK 10.4m | DKK 14.2m | DKK 16.9m | DKK 16.9m | DKK 10.9m | DKK 10.9m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 12.8% | -0.3% | 21.2% |
| Operating income | -4.2% | 5.7% | 17.3% |
| Net income | -2.8% | 8.9% | 19.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -70.9% | -80.3% | -83.9% | -66.9% |
| Net margin | -65.9% | -73.6% | -75.4% | -59.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Price to earnings | -1.4 | -4.1 | -1.7 | -1.5 | -3.6 | -20.1 |
| Price to sales | 1.1 | 2.2 | 1.0 | 1.9 | 4.1 | 10.4 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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