O 
16.80
-5.62%
Close of 9 Nov 2026, in SEK
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in SEK, from our data supplier.
Revenue
SEK 170.6m
FY2019FY2025
Net income
−SEK 51.1m
FY2019FY2025
Free cash flow
−SEK 54.0m
FY2019FY2025
Shareholders' equity
SEK 95.3m
FY2019FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | SEK 170.6m | SEK 135.7m | SEK 99.7m | SEK 69.2m | SEK 43.6m | SEK 26.8m | SEK 17.2m |
| Research and development | — | SEK 29.7m | SEK 21.0m | SEK 13.3m | SEK 8.3m | SEK 5.4m | SEK 4.1m |
| Operating income | −SEK 50.4m | −SEK 82.6m | −SEK 98.1m | −SEK 65.8m | −SEK 30.3m | −SEK 20.0m | −SEK 14.6m |
| Net income | −SEK 51.1m | −SEK 82.0m | −SEK 95.5m | −SEK 67.3m | −SEK 31.1m | −SEK 20.3m | −SEK 14.9m |
| Diluted earnings per share | -1.80 | -2.89 | -3.79 | -2.68 | -1.22 | -0.80 | -0.59 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Total assets | SEK 232.9m | SEK 270.5m | SEK 245.6m | SEK 309.8m | SEK 102.8m | SEK 70.0m | SEK 46.1m |
| Cash and short-term investments | SEK 43.3m | SEK 105.3m | SEK 100.6m | SEK 211.7m | SEK 35.2m | SEK 38.4m | SEK 20.7m |
| Total liabilities | SEK 137.6m | SEK 123.4m | SEK 108.7m | SEK 79.2m | SEK 90.9m | SEK 29.2m | SEK 25.9m |
| Debt | SEK 15.0m | SEK 9.5m | SEK 13.6m | SEK 9.3m | SEK 46.7m | SEK 4.4m | SEK 12.9m |
| Shareholders' equity | SEK 95.3m | SEK 147.2m | SEK 136.9m | SEK 230.6m | SEK 11.9m | SEK 40.7m | SEK 20.1m |
| Shares outstanding | 28m | 28m | 25m | 25m | 25m | 25m | 25m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | −SEK 689,000 | −SEK 26.6m | −SEK 52.7m | −SEK 28.9m | −SEK 4.0m | SEK 56,000 | −SEK 4.0m |
| Capital spending | −SEK 53.3m | −SEK 52.0m | −SEK 51.2m | −SEK 38.6m | −SEK 23.7m | −SEK 12.8m | −SEK 10.0m |
| Free cash flow | −SEK 54.0m | −SEK 78.6m | −SEK 103.9m | −SEK 67.5m | −SEK 27.6m | −SEK 12.7m | −SEK 14.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 49.1m | SEK 47.7m | SEK 46.5m | SEK 43.4m | SEK 41.5m | SEK 39.3m | SEK 36.7m | SEK 35.7m |
| Operating income | −SEK 3.5m | −SEK 5.6m | −SEK 5.2m | −SEK 5.1m | −SEK 20.7m | −SEK 19.4m | −SEK 21.0m | −SEK 15.5m |
| Net income | −SEK 3.6m | −SEK 5.8m | −SEK 5.4m | −SEK 5.1m | −SEK 21.3m | −SEK 19.2m | −SEK 20.7m | −SEK 15.4m |
| Diluted earnings per share | -0.13 | -0.20 | -0.19 | -0.18 | -0.75 | -0.68 | -0.73 | -0.54 |
| Cash from operations | SEK 10.0m | SEK 21.0m | SEK 6.0m | −SEK 2.0m | — | −SEK 4.0m | — | −SEK 11.0m |
| Capital spending | — | — | −SEK 11.0m | −SEK 12.0m | −SEK 14.0m | −SEK 14.0m | −SEK 13.0m | −SEK 11.0m |
| Free cash flow | — | — | −SEK 5.0m | −SEK 14.0m | — | −SEK 18.0m | — | −SEK 22.0m |
| Total assets | SEK 224.1m | SEK 231.3m | SEK 232.9m | SEK 233.7m | SEK 245.8m | SEK 247.6m | SEK 270.5m | SEK 274.1m |
| Cash and short-term investments | SEK 47.0m | SEK 50.9m | SEK 43.3m | SEK 51.1m | SEK 67.2m | SEK 84.3m | SEK 105.3m | SEK 119.0m |
| Debt | SEK 8.4m | SEK 8.7m | SEK 8.8m | SEK 8.8m | SEK 8.9m | SEK 6.1m | SEK 6.0m | SEK 5.5m |
| Shareholders' equity | SEK 86.2m | SEK 89.7m | SEK 95.3m | SEK 102.2m | SEK 107.1m | SEK 128.0m | SEK 147.2m | SEK 167.5m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 36.1% | 45.0% | — |
| Operating income | -8.5% | 20.3% | — |
| Net income | -8.8% | 20.2% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -43.4% | -62.5% | -63.6% | — |
| Net margin | -43.4% | -62.3% | -63.7% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|
| Price to earnings | -14.9 | -12.6 | -7.1 | -19.5 |
| Price to sales | 4.5 | 7.6 | 6.8 | 19.5 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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