P 
1.74
+5.45%
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 14.6m
FY2016FY2025
Net income
SEK 2.5m
FY2016FY2025
Free cash flow
−SEK 6.5m
FY2016FY2025
Shareholders' equity
SEK 19.8m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 14.6m | SEK 6.9m | SEK 9.9m | SEK 10.1m | SEK 8.8m | SEK 1.9m | SEK 2.2m | SEK 1.0m | SEK 798,327 | SEK 13,966 |
| Research and development | — | — | — | — | — | — | SEK 889,226 | SEK 889,226 | SEK 889,226 | — |
| Operating income | SEK 2.0m | −SEK 2.5m | −SEK 18.5m | −SEK 19.1m | −SEK 13.7m | −SEK 14.5m | −SEK 15.5m | −SEK 12.3m | −SEK 9.7m | −SEK 11.1m |
| Net income | SEK 2.5m | −SEK 2.5m | −SEK 18.3m | −SEK 19.2m | −SEK 13.7m | −SEK 14.6m | −SEK 16.7m | −SEK 12.4m | −SEK 9.9m | −SEK 11.2m |
| Diluted earnings per share | 0.48 | -0.55 | -0.28 | -0.98 | -0.71 | -1.15 | -1.34 | -1.76 | -2.51 | -4.44 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SEK 62.2m | SEK 18.7m | SEK 12.3m | SEK 18.8m | SEK 25.6m | SEK 19.0m | SEK 20.3m | SEK 17.9m | SEK 15.4m | SEK 6.1m |
| Cash and short-term investments | SEK 4.3m | SEK 9.4m | SEK 5.5m | SEK 10.7m | SEK 19.1m | SEK 16.4m | SEK 16.6m | SEK 13.6m | SEK 10.7m | SEK 1.1m |
| Total liabilities | SEK 31.4m | SEK 7.9m | SEK 4.2m | SEK 4.8m | SEK 4.8m | SEK 4.0m | SEK 3.2m | SEK 4.1m | SEK 4.1m | SEK 4.8m |
| Debt | SEK 178,000 | SEK 4.0m | SEK 56,000 | SEK 388,888 | SEK 749,337 | SEK 1.1m | SEK 1.4m | SEK 1.8m | SEK 2.2m | SEK 2.4m |
| Shareholders' equity | SEK 19.8m | SEK 7.8m | SEK 8.1m | SEK 14.0m | SEK 20.8m | SEK 15.0m | SEK 17.0m | SEK 13.7m | SEK 11.2m | SEK 1.3m |
| Shares outstanding | 5m | 5m | 66m | 19m | 19m | 13m | 12m | 7m | 4m | 3m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −SEK 5.5m | −SEK 7.0m | −SEK 16.4m | −SEK 19.2m | −SEK 15.3m | −SEK 10.2m | −SEK 13.9m | −SEK 11.0m | −SEK 9.3m | −SEK 9.2m |
| Capital spending | −SEK 1.1m | −SEK 33,428 | −SEK 620,000 | −SEK 1.1m | −SEK 795,396 | −SEK 204,365 | −SEK 229,943 | −SEK 405,613 | −SEK 662,135 | −SEK 700,450 |
| Free cash flow | −SEK 6.5m | −SEK 7.1m | −SEK 17.0m | −SEK 20.2m | −SEK 16.1m | −SEK 10.4m | −SEK 14.1m | −SEK 11.4m | −SEK 10.0m | −SEK 9.9m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 6.0m | SEK 5.0m | SEK 5.2m | SEK 3.5m | SEK 2.7m | SEK 3.2m | SEK 4.2m | SEK 385,000 |
| Operating income | −SEK 3.1m | −SEK 2.9m | −SEK 3.9m | SEK 7.5m | −SEK 538,000 | −SEK 1.0m | −SEK 1.1m | −SEK 1.2m |
| Net income | −SEK 2.2m | −SEK 2.1m | −SEK 2.9m | SEK 7.4m | −SEK 814,000 | −SEK 1.3m | −SEK 1.4m | −SEK 1.1m |
| Diluted earnings per share | -0.25 | -0.24 | -0.57 | 1.47 | -0.16 | -0.26 | -0.30 | -0.25 |
| Cash from operations | −SEK 1.0m | −SEK 2.0m | −SEK 1.0m | −SEK 1.0m | — | −SEK 2.0m | — | — |
| Capital spending | −SEK 1.0m | −SEK 1.0m | −SEK 1.0m | — | — | — | — | — |
| Free cash flow | −SEK 2.0m | −SEK 3.0m | −SEK 2.0m | — | — | — | — | — |
| Total assets | SEK 58.1m | SEK 59.0m | SEK 62.2m | SEK 46.7m | SEK 16.1m | SEK 17.4m | SEK 18.7m | SEK 20.3m |
| Cash and short-term investments | SEK 16.8m | SEK 20.3m | SEK 4.3m | SEK 6.4m | SEK 6.0m | SEK 7.2m | SEK 9.4m | SEK 8.8m |
| Debt | SEK 178,000 | SEK 178,000 | SEK 178,000 | SEK 11.7m | SEK 4.0m | SEK 4.0m | SEK 4.0m | — |
| Shareholders' equity | SEK 16.1m | SEK 18.2m | SEK 19.8m | SEK 3.9m | SEK 5.7m | SEK 6.6m | SEK 7.8m | SEK 9.1m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 12.9% | 50.3% | 50.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -1.9% | -91.5% | -126.7% | -216.1% |
| Net margin | -0.1% | -90.2% | -125.8% | -218.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 10.9 | -7.8 | -4.9 | -5.6 | -28.9 | -10.7 | -11.5 | -8.8 | -18.1 | -8.1 |
| Price to sales | 1.8 | 2.8 | 9.1 | 10.6 | 44.9 | 82.0 | 88.3 | 105.2 | 226.1 | — |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 24-to-1 reverse split · 26 Sept 2024
- 2-to-1 reverse split · 4 May 2018
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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