M 
9.00
-10.00%
Close of 9 Nov 2026, in ZAc
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in ZAR, from our data supplier.
Revenue
ZAR 393.2m
FY2016FY2026
Net income
−ZAR 315.2m
FY2016FY2026
Free cash flow
−ZAR 184.0m
FY2016FY2026
Shareholders' equity
ZAR 229.9m
FY2016FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2019 | FY2018 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | ZAR 393.2m | ZAR 317.5m | ZAR 109.9m | ZAR 4.5m | — | — | — | — | ZAR 2.6m |
| Operating income | −ZAR 258.6m | ZAR 4.0m | ZAR 24.9m | −ZAR 15.8m | −ZAR 14.4m | −ZAR 3.5m | −ZAR 6.4m | −ZAR 2.8m | −ZAR 33.7m |
| Net income | −ZAR 315.2m | ZAR 303.3m | ZAR 1.2m | −ZAR 16.9m | ZAR 7.7m | −ZAR 1.5m | −ZAR 8.2m | −ZAR 3.7m | −ZAR 28.0m |
| Diluted earnings per share | -0.97 | 0.95 | 0.01 | -0.10 | 0.02 | -0.00 | -8.68 | -3.89 | -0.03 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2019 | FY2018 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|
| Total assets | ZAR 1.36bn | ZAR 1.11bn | ZAR 451.2m | ZAR 282.4m | ZAR 117.8m | ZAR 1.4m | ZAR 107,000 | ZAR 93,000 | ZAR 10.6m |
| Cash and short-term investments | ZAR 4.7m | ZAR 29.5m | ZAR 11.3m | ZAR 18.0m | — | — | ZAR 107,000 | ZAR 52,000 | ZAR 10.2m |
| Total liabilities | ZAR 1.12bn | ZAR 598.7m | ZAR 351.8m | ZAR 203.7m | ZAR 71.1m | ZAR 23.8m | ZAR 16.2m | ZAR 8.0m | ZAR 13.7m |
| Debt | ZAR 9.3m | ZAR 9.2m | ZAR 8.2m | ZAR 8.1m | — | — | ZAR 14.0m | ZAR 7.0m | ZAR 12.7m |
| Shareholders' equity | ZAR 229.9m | ZAR 509.3m | ZAR 99.4m | ZAR 78.7m | ZAR 46.8m | −ZAR 22.4m | −ZAR 16.1m | −ZAR 7.9m | −ZAR 3.2m |
| Shares outstanding | 324m | 318m | 192m | 164m | 324m | 324m | 1m | 1m | — |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2019 | FY2018 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −ZAR 163.8m | −ZAR 22.5m | ZAR 5.2m | −ZAR 29.8m | ZAR 10.2m | −ZAR 2.8m | −ZAR 2.4m | −ZAR 2.8m | −ZAR 3.5m |
| Capital spending | −ZAR 20.2m | −ZAR 70.2m | −ZAR 50.6m | −ZAR 22.0m | −ZAR 23,000 | — | — | — | — |
| Free cash flow | −ZAR 184.0m | −ZAR 92.7m | −ZAR 45.4m | −ZAR 51.8m | ZAR 10.2m | −ZAR 2.8m | −ZAR 2.4m | −ZAR 2.8m | −ZAR 3.5m |
Latest quarters
By quarter end
| Aug 2025 | Feb 2025 | Aug 2024 | Feb 2024 | Aug 2023 | Feb 2023 | Aug 2022 | Feb 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ZAR 243.0m | ZAR 201.6m | ZAR 115.9m | ZAR 96.8m | ZAR 13.1m | ZAR 4.2m | ZAR 330,000 | — |
| Operating income | −ZAR 58.6m | −ZAR 23.8m | ZAR 24.3m | ZAR 40.3m | −ZAR 15.4m | −ZAR 10.8m | −ZAR 5.0m | ZAR 9.4m |
| Net income | −ZAR 81.1m | ZAR 300.4m | ZAR 3.0m | ZAR 17.2m | −ZAR 16.0m | −ZAR 9.5m | −ZAR 7.4m | ZAR 9.9m |
| Diluted earnings per share | -0.27 | 1.28 | 0.02 | 0.22 | -0.10 | -66.96 | -7.85 | 65.55 |
| Cash from operations | −ZAR 108.0m | −ZAR 36.0m | ZAR 13.0m | ZAR 5.0m | — | −ZAR 25.0m | −ZAR 4.0m | −ZAR 1.0m |
| Capital spending | −ZAR 7.0m | −ZAR 70.0m | — | −ZAR 50.0m | — | −ZAR 21.0m | — | — |
| Free cash flow | −ZAR 115.0m | −ZAR 106.0m | — | −ZAR 45.0m | — | −ZAR 46.0m | — | — |
| Total assets | ZAR 1.45bn | ZAR 1.11bn | ZAR 574.4m | ZAR 451.2m | ZAR 317.6m | ZAR 252.5m | ZAR 153.1m | ZAR 117.8m |
| Cash and short-term investments | ZAR 5.2m | ZAR 29.5m | — | — | — | — | ZAR 56,000 | ZAR 192,000 |
| Debt | ZAR 1.2m | ZAR 440,000 | — | — | — | — | ZAR 26.3m | — |
| Shareholders' equity | ZAR 471.2m | ZAR 509.3m | ZAR 135.9m | ZAR 99.4m | ZAR 63.5m | ZAR 78.7m | ZAR 67.0m | ZAR 46.8m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 344.0% | — | 64.9% |
| Operating income | 153.9% | 136.1% | 22.6% |
| Net income | 165.2% | 191.6% | 27.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -35.8% | -29.8% | — | — |
| Net margin | -1.7% | -3.3% | — | — |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -0.1 | 0.5 | 115.0 | -7.3 | 271.1 | -1898.9 | -1.0 | -2.3 | -8.0 | -267.9 |
| Price to sales | 0.1 | 0.5 | 1.2 | 27.4 | — | — | — | — | 44.3 | — |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 6 Oct 2003.
- 1000-to-1 reverse split · 29 Mar 2023
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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