O 
0.18
+8.88%
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 184.1m
FY2016FY2025
Net income
−SEK 61.6m
FY2016FY2025
Free cash flow
−SEK 73.7m
FY2016FY2025
Shareholders' equity
SEK 122.4m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 184.1m | SEK 173.8m | SEK 189.6m | SEK 148.4m | SEK 99.8m | SEK 39.7m | SEK 91.1m | SEK 40.6m | SEK 14.6m | SEK 6.9m |
| Research and development | — | — | SEK 22.1m | SEK 625,000 | SEK 12.0m | SEK 35.8m | — | SEK 28.0m | SEK 22.2m | — |
| Operating income | −SEK 62.9m | −SEK 82.2m | −SEK 100.8m | −SEK 91.2m | −SEK 62.3m | −SEK 77.2m | −SEK 88.1m | −SEK 87.2m | −SEK 46.9m | −SEK 21.4m |
| Net income | −SEK 61.6m | −SEK 97.9m | −SEK 116.4m | −SEK 109.9m | −SEK 81.3m | −SEK 93.9m | −SEK 115.8m | −SEK 108.2m | −SEK 51.0m | −SEK 27.1m |
| Diluted earnings per share | -0.09 | -0.22 | -0.38 | -0.44 | -0.28 | -0.57 | -0.88 | -2.20 | -1.35 | -1.28 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SEK 286.4m | SEK 310.9m | SEK 339.3m | SEK 402.8m | SEK 330.3m | SEK 359.8m | SEK 314.8m | SEK 248.5m | SEK 182.1m | SEK 118.2m |
| Cash and short-term investments | SEK 17.9m | SEK 44.3m | SEK 28.7m | SEK 46.3m | SEK 23.5m | SEK 41.4m | SEK 51.2m | SEK 5.0m | SEK 14.2m | SEK 9.0m |
| Total liabilities | SEK 164.0m | SEK 119.9m | SEK 325.9m | SEK 299.5m | SEK 283.7m | SEK 264.1m | SEK 196.0m | SEK 164.8m | SEK 44.2m | SEK 99.1m |
| Debt | SEK 81.8m | SEK 53.1m | SEK 241.3m | SEK 239.6m | SEK 215.7m | SEK 204.9m | SEK 160.3m | SEK 106.2m | SEK 4.1m | SEK 10.3m |
| Shareholders' equity | SEK 122.4m | SEK 190.9m | SEK 13.4m | SEK 103.3m | SEK 46.7m | SEK 95.7m | SEK 118.8m | SEK 83.8m | SEK 137.9m | SEK 19.1m |
| Shares outstanding | 693m | 447m | 310m | 251m | 290m | 165m | 131m | 49m | 38m | 21m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −SEK 71.9m | −SEK 51.3m | −SEK 50.4m | −SEK 50.2m | SEK 37.4m | SEK 6.6m | SEK 28.8m | −SEK 25.8m | −SEK 101.9m | −SEK 1.0m |
| Capital spending | −SEK 1.7m | −SEK 4.7m | −SEK 1.6m | −SEK 3.2m | −SEK 2.6m | −SEK 2.6m | −SEK 2.6m | −SEK 2.3m | −SEK 25.9m | −SEK 26.5m |
| Free cash flow | −SEK 73.7m | −SEK 55.9m | −SEK 52.0m | −SEK 53.4m | SEK 34.8m | SEK 4.0m | SEK 26.2m | −SEK 28.1m | −SEK 127.8m | −SEK 27.5m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 15.5m | SEK 17.4m | SEK 30.7m | SEK 42.8m | SEK 61.6m | SEK 50.5m | SEK 43.6m | SEK 45.6m |
| Operating income | −SEK 25.7m | −SEK 22.5m | −SEK 24.3m | −SEK 17.5m | −SEK 9.3m | −SEK 12.6m | −SEK 24.4m | −SEK 13.0m |
| Net income | −SEK 27.0m | −SEK 25.4m | −SEK 23.7m | −SEK 16.8m | −SEK 9.6m | −SEK 10.7m | −SEK 29.8m | −SEK 14.8m |
| Diluted earnings per share | -0.03 | -0.03 | -0.03 | -0.02 | -0.01 | -0.02 | -0.07 | -0.03 |
| Cash from operations | −SEK 26.0m | −SEK 7.0m | −SEK 39.0m | SEK 5.0m | −SEK 10.0m | −SEK 26.0m | −SEK 26.0m | −SEK 1.0m |
| Capital spending | −SEK 1.0m | −SEK 6.0m | −SEK 2.0m | −SEK 2.0m | −SEK 2.0m | — | −SEK 2.0m | — |
| Free cash flow | −SEK 27.0m | −SEK 13.0m | −SEK 41.0m | SEK 3.0m | −SEK 12.0m | — | −SEK 28.0m | — |
| Total assets | SEK 274.7m | SEK 267.3m | SEK 286.4m | SEK 262.2m | SEK 280.9m | SEK 298.0m | SEK 310.9m | SEK 277.2m |
| Cash and short-term investments | SEK 13.8m | SEK 1.2m | SEK 17.9m | SEK 9.3m | SEK 4.2m | SEK 15.2m | SEK 44.3m | SEK 6.1m |
| Debt | SEK 80.7m | SEK 80.0m | SEK 81.8m | SEK 51.1m | SEK 51.7m | SEK 48.9m | SEK 53.1m | SEK 251.7m |
| Shareholders' equity | SEK 133.2m | SEK 99.7m | SEK 122.4m | SEK 148.9m | SEK 166.0m | SEK 176.3m | SEK 190.9m | −SEK 53.7m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 7.4% | 35.9% | 98.8% |
| Operating income | -11.6% | -4.0% | 32.5% |
| Net income | -17.6% | -8.1% | 32.2% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -40.5% | -48.4% | -57.0% | -73.2% |
| Net margin | -44.6% | -55.4% | -67.2% | -87.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -4.3 | -1.6 | -2.9 | -3.3 | -8.5 | -2.9 | -1.7 | -0.7 | -2.2 |
| Price to sales | 1.4 | 0.9 | 1.8 | 2.5 | 6.9 | 6.8 | 2.2 | 1.8 | 7.7 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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