O 
0.41
-3.52%
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 106.2m
FY2016FY2025
Net income
−SEK 36.4m
FY2016FY2025
Free cash flow
−SEK 10.5m
FY2016FY2025
Shareholders' equity
SEK 15.2m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 106.2m | SEK 127.2m | SEK 145.9m | SEK 115.0m | SEK 110.1m | SEK 96.5m | SEK 85.5m | SEK 78.4m | SEK 74.7m | SEK 38.8m |
| Research and development | SEK 1.5m | SEK 5.9m | SEK 6.7m | SEK 12.2m | SEK 7.5m | SEK 5.5m | SEK 4.3m | SEK 3.4m | SEK 3.5m | SEK 3.3m |
| Operating income | −SEK 31.6m | −SEK 9.9m | −SEK 9.2m | −SEK 47.8m | −SEK 28.6m | −SEK 17.1m | −SEK 15.1m | −SEK 17.8m | −SEK 23.3m | −SEK 29.7m |
| Net income | −SEK 36.4m | −SEK 18.0m | −SEK 15.8m | −SEK 41.6m | −SEK 31.0m | −SEK 19.5m | −SEK 18.4m | −SEK 20.2m | −SEK 27.6m | −SEK 29.9m |
| Diluted earnings per share | -0.33 | -0.18 | -0.16 | -0.42 | -0.39 | -0.21 | -0.24 | -0.27 | -0.40 | -0.45 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SEK 135.2m | SEK 127.0m | SEK 150.7m | SEK 162.9m | SEK 188.4m | SEK 152.8m | SEK 173.2m | SEK 88.1m | SEK 101.8m | SEK 83.8m |
| Cash and short-term investments | SEK 2.7m | SEK 538,000 | SEK 10.7m | SEK 15.2m | SEK 34.2m | SEK 32.0m | SEK 61.1m | SEK 6.1m | SEK 22.3m | SEK 10.0m |
| Total liabilities | SEK 114.8m | SEK 89.2m | SEK 97.3m | SEK 95.3m | SEK 80.7m | SEK 69.9m | SEK 70.7m | SEK 53.3m | SEK 47.5m | SEK 42.3m |
| Debt | SEK 77.8m | SEK 51.7m | SEK 62.4m | SEK 61.7m | SEK 53.5m | SEK 43.4m | SEK 55.2m | SEK 40.5m | SEK 31.4m | SEK 23.2m |
| Shareholders' equity | SEK 15.2m | SEK 29.0m | SEK 44.6m | SEK 58.8m | SEK 100.3m | SEK 54.1m | SEK 77.7m | SEK 12.1m | SEK 32.3m | SEK 21.8m |
| Shares outstanding | 110m | 98m | 98m | 98m | 81m | 92m | 76m | 74m | 69m | 67m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −SEK 8.3m | SEK 3.6m | SEK 533,000 | −SEK 21.2m | −SEK 37.7m | SEK 5.5m | −SEK 11.0m | −SEK 19.2m | −SEK 20.7m | −SEK 15.5m |
| Capital spending | −SEK 2.2m | −SEK 9.1m | −SEK 8.6m | −SEK 14.1m | −SEK 14.6m | −SEK 19.4m | −SEK 7.0m | −SEK 4.6m | −SEK 10.0m | −SEK 13.2m |
| Free cash flow | −SEK 10.5m | −SEK 5.5m | −SEK 8.1m | −SEK 35.4m | −SEK 52.3m | −SEK 13.9m | −SEK 18.0m | −SEK 23.8m | −SEK 30.7m | −SEK 28.7m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 22.1m | SEK 27.4m | SEK 18.4m | SEK 22.5m | SEK 30.0m | SEK 35.4m | SEK 21.4m | SEK 28.9m |
| Operating income | −SEK 2.1m | SEK 120,000 | −SEK 18.4m | −SEK 6.4m | −SEK 4.7m | −SEK 2.1m | −SEK 6.9m | −SEK 3.0m |
| Net income | −SEK 4.0m | −SEK 1.7m | −SEK 18.4m | −SEK 8.1m | −SEK 6.4m | −SEK 3.5m | −SEK 8.4m | −SEK 4.6m |
| Diluted earnings per share | -0.04 | -0.02 | -0.17 | -0.07 | -0.06 | -0.03 | -0.09 | -0.05 |
| Cash from operations | SEK 1.0m | — | SEK 2.0m | −SEK 8.0m | SEK 7.0m | −SEK 10.0m | SEK 4.0m | −SEK 1.0m |
| Capital spending | — | −SEK 1.0m | — | −SEK 1.0m | −SEK 2.0m | −SEK 4.0m | −SEK 2.0m | −SEK 2.0m |
| Free cash flow | — | — | — | −SEK 9.0m | SEK 5.0m | −SEK 14.0m | SEK 2.0m | −SEK 3.0m |
| Total assets | SEK 136.8m | SEK 147.7m | SEK 135.2m | SEK 157.8m | SEK 163.1m | SEK 177.0m | SEK 127.0m | SEK 146.6m |
| Cash and short-term investments | SEK 480,000 | SEK 3.1m | SEK 2.7m | SEK 5.3m | SEK 2.3m | SEK 401,000 | SEK 538,000 | SEK 4.3m |
| Debt | SEK 62.3m | SEK 59.2m | SEK 77.8m | SEK 74.9m | SEK 78.0m | SEK 75.5m | SEK 51.7m | SEK 47.4m |
| Shareholders' equity | SEK 10.5m | SEK 14.0m | SEK 15.2m | SEK 33.1m | SEK 20.4m | SEK 25.8m | SEK 29.0m | SEK 36.8m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -2.6% | 1.9% | 13.3% |
| Operating income | -12.9% | 13.0% | 4.3% |
| Net income | -4.4% | 13.3% | 6.2% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -17.7% | -19.9% | -20.6% | -24.9% |
| Net margin | -23.3% | -22.6% | -23.2% | -27.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -2.9 | -8.6 | -10.9 | -3.9 | -10.0 | -28.5 | -12.3 | -9.9 | -9.6 | -8.4 |
| Price to sales | 1.0 | 1.2 | 1.2 | 1.4 | 2.8 | 5.8 | 2.6 | 2.6 | 3.5 | 6.5 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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