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At a glance
Figures in EUR, from our data supplier.
Revenue
€449.7m
FY2021FY2025
Net income
€51.2m
FY2021FY2025
Free cash flow
€20.0m
FY2021FY2025
Shareholders' equity
€200.5m
FY2021FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | €449.7m | €383.1m | €334.1m | €288.8m | €308.5m |
| Gross profit | €176.7m | €151.9m | €128.8m | €133.6m | €161.9m |
| Research and development | €25.7m | €21.3m | €18.0m | — | — |
| Operating income | €62.1m | €48.4m | €41.6m | €53.9m | €81.0m |
| Net income | €51.2m | €32.2m | €25.2m | −€5,000 | −€27.4m |
| Diluted earnings per share | 2.82 | 2.20 | 1.39 | -0.00 | -1.52 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Total assets | €354.8m | €242.7m | €220.9m | €199.7m | €150.7m |
| Cash and short-term investments | €61.0m | €12.9m | €18.6m | €24.1m | €13.9m |
| Total liabilities | €149.7m | €159.0m | €177.0m | €177.5m | €132.3m |
| Debt | €7.8m | €60.0m | €77.9m | €38.5m | — |
| Shareholders' equity | €200.5m | €81.5m | €41.3m | €21.0m | €14.0m |
| Shares outstanding | 18m | 15m | 18m | 18m | 18m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Cash from operations | €47.6m | €42.6m | €20.8m | −€9.6m | — |
| Capital spending | −€27.6m | −€17.2m | −€8.4m | −€6.7m | — |
| Free cash flow | €20.0m | €25.4m | €12.4m | −€16.3m | — |
| Dividends paid | −€11.7m | — | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €129.8m | €126.9m | €123.2m | €132.4m | €113.4m | €100.1m | €98.0m | €98.8m |
| Gross profit | €52.4m | €55.3m | €45.7m | €53.1m | €47.9m | €42.1m | €41.1m | €38.0m |
| Operating income | €17.9m | €22.0m | €14.6m | €18.1m | €14.7m | €16.6m | €14.3m | €9.5m |
| Net income | €20.2m | €17.8m | €16.6m | €15.3m | €9.9m | €11.5m | €11.7m | €4.4m |
| Diluted earnings per share | 1.11 | 0.98 | 0.92 | 0.85 | 0.55 | 0.64 | 0.80 | 0.30 |
| Cash from operations | €19.0m | — | €37.0m | €9.0m | €6.0m | −€5.0m | — | €9.0m |
| Capital spending | −€10.0m | −€7.0m | −€11.0m | −€7.0m | −€7.0m | −€4.0m | −€6.0m | −€3.0m |
| Free cash flow | €9.0m | — | €26.0m | €2.0m | −€1.0m | −€9.0m | — | €6.0m |
| Total assets | €399.4m | €372.9m | €354.8m | €409.1m | €338.3m | €298.3m | €242.7m | — |
| Cash and short-term investments | €56.9m | €50.2m | €60.9m | €76.8m | €72.5m | €31.5m | €12.9m | — |
| Debt | €8.7m | €8.4m | €7.8m | €44.5m | €7.3m | €63.6m | €7.2m | — |
| Shareholders' equity | €215.9m | €220.2m | €200.5m | €212.5m | €167.9m | €99.9m | €78.7m | — |
Financial ratios
Data as of 4 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Gross margin | 39.3% | 39.6% | 38.5% | 46.3% | 52.5% |
| Operating margin | 13.2% | 12.7% | 12.2% | 2.7% | -5.1% |
| Net margin | 11.4% | 8.4% | 7.5% | -0.0% | -8.9% |
| Return on equity | 25.5% | 40.9% | 61.0% | -0.0% | -196.0% |
| Return on assets | 14.4% | 13.3% | 11.4% | -0.0% | -18.2% |
| Free cash flow yield | 6.8% | 6.7% | — | — | — |
| Revenue growth | 17.4% | 14.7% | 15.7% | -6.4% | — |
| Earnings growth | 59.0% | 27.6% | -504600.0% | -100.0% | — |
| Current ratio | 2.16x | 1.37x | 2.04x | 1.70x | 1.75x |
| Debt to equity | 0.04x | 0.53x | 0.23x | 1.84x | 2.12x |
| Equity ratio | 56.5% | 32.4% | 18.7% | 10.5% | 9.3% |
| Interest coverage | 18.27x | 11.23x | 5.40x | 1.06x | -3.03x |
| R&D as a share of sales | 5.7% | 5.6% | 5.4% | — | — |
| Buybacks as a share of market value | -24.1% | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 16.6% | — | — |
| Operating income | 4.8% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 39.5% | 40.6% | — | — |
Valuation history
At each fiscal year end
| FY2025 | |
|---|---|
| Price to earnings | 27.1 |
| Price to sales | 3.1 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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