O 
64.80
+3.51%
Close of 9 Nov 2026, in NOK
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At a glance
Figures in NOK, from our data supplier.
Revenue
NOK 28.1m
FY2016FY2025
Net income
−NOK 155.1m
FY2016FY2025
Free cash flow
−NOK 131.3m
FY2016FY2025
Shareholders' equity
NOK 146.3m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | NOK 28.1m | NOK 848,000 | NOK 354,000 | NOK 389,000 | NOK 774,000 | NOK 601,000 | NOK 8.9m | NOK 2.3m | — | — |
| Gross profit | — | −NOK 2.6m | −NOK 5.1m | −NOK 5.7m | — | — | — | — | — | — |
| Research and development | NOK 62.9m | NOK 87.7m | NOK 107.8m | NOK 202.4m | NOK 205.8m | — | NOK 21.2m | NOK 10.3m | NOK 12.5m | — |
| Operating income | −NOK 158.3m | −NOK 151.2m | −NOK 191.8m | −NOK 305.6m | −NOK 314.5m | −NOK 261.1m | −NOK 204.4m | −NOK 194.5m | −NOK 183.7m | −NOK 131.6m |
| Net income | −NOK 155.1m | −NOK 139.3m | −NOK 190.4m | −NOK 302.1m | −NOK 309.4m | −NOK 257.0m | −NOK 199.3m | −NOK 191.7m | −NOK 182.2m | −NOK 129.8m |
| Diluted earnings per share | -1.59 | -1.51 | -1.95 | -3.09 | -3.17 | -0.39 | -3.38 | -3.58 | -3.98 | -4.17 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | NOK 205.0m | NOK 171.0m | NOK 174.3m | NOK 166.7m | NOK 450.2m | NOK 738.2m | NOK 270.4m | NOK 378.8m | NOK 384.3m | NOK 174.5m |
| Cash and short-term investments | NOK 177.6m | NOK 140.2m | NOK 156.4m | NOK 150.8m | — | NOK 721.6m | NOK 253.6m | NOK 360.4m | NOK 370.4m | NOK 161.8m |
| Total liabilities | NOK 58.6m | NOK 62.7m | NOK 46.9m | NOK 78.2m | NOK 65.8m | NOK 68.0m | NOK 50.6m | NOK 41.5m | NOK 34.0m | NOK 21.3m |
| Debt | NOK 675,000 | NOK 818,000 | — | NOK 275,000 | NOK 942,000 | NOK 2.0m | — | — | — | — |
| Shareholders' equity | NOK 146.3m | NOK 108.3m | NOK 127.5m | NOK 88.5m | NOK 384.4m | NOK 670.2m | NOK 219.8m | NOK 337.3m | NOK 350.4m | NOK 153.3m |
| Shares outstanding | 98m | 92m | 98m | 98m | 98m | 653m | 59m | 54m | 46m | 31m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −NOK 131.2m | −NOK 153.2m | −NOK 138.1m | −NOK 288.2m | −NOK 303.3m | −NOK 234.3m | −NOK 186.7m | −NOK 186.7m | −NOK 168.1m | −NOK 124.3m |
| Capital spending | −NOK 119,000 | −NOK 1.8m | −NOK 26.8m | −NOK 4.0m | — | −NOK 67,000 | — | −NOK 228,000 | −NOK 340,000 | −NOK 255,000 |
| Free cash flow | −NOK 131.3m | −NOK 155.0m | −NOK 164.9m | −NOK 292.2m | −NOK 303.3m | −NOK 234.4m | −NOK 186.7m | −NOK 186.9m | −NOK 168.4m | −NOK 124.6m |
Latest quarters
By quarter end
| Jun 2025 | Dec 2024 | Sept 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sept 2023 | Jun 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | NOK 4.7m | NOK 681,000 | — | — | NOK 167,000 | NOK 354,000 | — | — |
| Gross profit | — | NOK 1.7m | — | — | — | — | — | — |
| Operating income | −NOK 54.6m | −NOK 33.5m | −NOK 27.2m | −NOK 50.8m | −NOK 39.8m | −NOK 43.5m | −NOK 28.1m | −NOK 47.8m |
| Net income | −NOK 54.1m | −NOK 28.6m | −NOK 24.8m | −NOK 49.7m | −NOK 36.1m | −NOK 41.6m | −NOK 27.9m | −NOK 48.8m |
| Diluted earnings per share | -0.55 | -0.31 | -0.27 | -0.54 | -1.34 | -1.57 | -0.01 | -0.15 |
| Cash from operations | −NOK 73.0m | −NOK 153.0m | −NOK 116.0m | −NOK 46.0m | — | — | — | — |
| Total assets | NOK 86.8m | NOK 155.8m | NOK 194.7m | NOK 218.5m | NOK 135.4m | NOK 174.3m | NOK 188.0m | NOK 240.4m |
| Cash and short-term investments | NOK 69.5m | NOK 140.2m | NOK 174.8m | — | NOK 117.3m | NOK 156.4m | NOK 169.3m | NOK 226.0m |
| Debt | — | NOK 818,000 | — | — | — | — | NOK 101,000 | — |
| Shareholders' equity | NOK 67.0m | NOK 122.7m | NOK 153.4m | NOK 175.3m | NOK 93.3m | NOK 127.5m | NOK 161.2m | NOK 188.0m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 316.3% | 115.7% | — |
| Operating income | -19.7% | -9.5% | 8.1% |
| Net income | -19.9% | -9.6% | 8.0% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -1070.5% | -2720.9% | -4454.9% | — |
| Net margin | -1017.9% | -2653.0% | -4360.5% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -29.2 | -44.1 | -116.3 | -189.8 | -503.3 | -6426.4 | -557.0 | -576.2 | -401.4 |
| Price to sales | 161.2 | — | — | — | — | — | — | — | — |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 100-to-1 reverse split · 19 Jan 2026
- 100-to-1 reverse split · 30 May 2024
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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