P 
0.52
-2.80%
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 77.8m
FY2016FY2025
Net income
−SEK 19.9m
FY2016FY2025
Free cash flow
SEK 658,000
FY2016FY2025
Shareholders' equity
SEK 131.0m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 77.8m | SEK 86.9m | SEK 75.1m | SEK 91.0m | SEK 83.3m | SEK 92.3m | SEK 91.9m | SEK 67.6m | SEK 61.0m | SEK 97.2m |
| Research and development | SEK 27.2m | SEK 27.0m | SEK 32.1m | SEK 34.9m | SEK 28.2m | SEK 35.9m | SEK 35.8m | SEK 33.5m | SEK 25.3m | SEK 26.2m |
| Operating income | −SEK 20.1m | −SEK 9.4m | −SEK 26.5m | −SEK 22.2m | −SEK 14.1m | −SEK 6.4m | SEK 651,000 | −SEK 20.5m | −SEK 13.9m | SEK 18.0m |
| Net income | −SEK 19.9m | −SEK 8.4m | −SEK 26.4m | −SEK 22.2m | −SEK 13.4m | −SEK 12.2m | SEK 1.0m | −SEK 20.5m | −SEK 17.4m | SEK 31.2m |
| Diluted earnings per share | -0.25 | -0.11 | -0.34 | -0.42 | -0.34 | -0.34 | 0.03 | -0.57 | -0.42 | 0.88 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SEK 174.1m | SEK 203.1m | SEK 212.7m | SEK 213.2m | SEK 241.1m | SEK 153.0m | SEK 158.5m | SEK 158.8m | SEK 189.6m | SEK 196.1m |
| Cash and short-term investments | SEK 18.4m | SEK 37.7m | SEK 47.5m | SEK 46.4m | SEK 64.1m | SEK 76.3m | SEK 73.7m | SEK 79.5m | SEK 117.0m | SEK 135.8m |
| Total liabilities | SEK 43.1m | SEK 51.9m | SEK 53.3m | SEK 66.9m | SEK 113.0m | SEK 38.9m | SEK 32.0m | SEK 33.3m | SEK 43.8m | SEK 33.1m |
| Debt | SEK 10.9m | SEK 25.9m | SEK 4.5m | SEK 32.7m | SEK 42.1m | SEK 6.8m | SEK 1.1m | −SEK 11.7m | −SEK 22.0m | −SEK 14.7m |
| Shareholders' equity | SEK 131.0m | SEK 151.2m | SEK 159.3m | SEK 146.3m | SEK 128.1m | SEK 114.0m | SEK 126.5m | SEK 125.5m | SEK 145.8m | SEK 163.0m |
| Shares outstanding | 78m | 78m | 78m | 53m | 40m | 36m | 36m | 36m | 41m | 36m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | SEK 1.9m | SEK 10.1m | −SEK 10.8m | SEK 3.9m | −SEK 1.5m | SEK 21.8m | −SEK 477,000 | −SEK 26.1m | SEK 22.8m | SEK 37.7m |
| Capital spending | −SEK 1.3m | −SEK 11.3m | −SEK 15.3m | −SEK 21.7m | −SEK 19.6m | −SEK 17.8m | −SEK 5.8m | −SEK 11.4m | −SEK 9.5m | −SEK 5.3m |
| Free cash flow | SEK 658,000 | −SEK 1.3m | −SEK 26.1m | −SEK 17.8m | −SEK 21.1m | SEK 4.0m | −SEK 6.3m | −SEK 37.4m | SEK 13.3m | SEK 32.4m |
| Dividends paid | — | — | — | −SEK 1.9m | — | — | — | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 14.7m | SEK 17.1m | SEK 17.0m | SEK 20.0m | SEK 20.8m | SEK 20.0m | SEK 21.8m | SEK 22.8m |
| Operating income | −SEK 10.5m | −SEK 5.9m | −SEK 6.2m | −SEK 5.6m | −SEK 10.9m | −SEK 12.4m | −SEK 2.1m | SEK 1.1m |
| Net income | −SEK 10.4m | −SEK 5.6m | −SEK 6.3m | −SEK 654,000 | −SEK 5.8m | −SEK 7.2m | −SEK 1.3m | SEK 1.4m |
| Diluted earnings per share | -0.11 | -0.06 | -0.08 | -0.01 | -0.07 | -0.09 | -0.02 | 0.02 |
| Cash from operations | SEK 3.0m | SEK 3.0m | −SEK 3.0m | SEK 1.0m | SEK 1.0m | SEK 2.0m | SEK 5.0m | SEK 3.0m |
| Capital spending | — | — | — | −SEK 3.0m | −SEK 3.0m | −SEK 3.0m | −SEK 3.0m | −SEK 2.0m |
| Free cash flow | — | — | — | −SEK 2.0m | −SEK 2.0m | −SEK 1.0m | SEK 2.0m | SEK 1.0m |
| Total assets | SEK 162.2m | SEK 172.1m | SEK 174.1m | SEK 184.2m | SEK 190.3m | SEK 201.5m | SEK 203.1m | SEK 200.9m |
| Cash and short-term investments | SEK 18.9m | SEK 18.9m | SEK 18.4m | SEK 31.3m | SEK 33.6m | SEK 36.0m | SEK 37.7m | SEK 41.6m |
| Debt | — | — | SEK 12.1m | SEK 18.0m | SEK 18.6m | SEK 19.2m | SEK 12.6m | SEK 21.1m |
| Shareholders' equity | SEK 115.3m | SEK 125.6m | SEK 131.0m | SEK 137.4m | SEK 138.1m | SEK 143.6m | SEK 151.2m | SEK 152.2m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -5.1% | -3.4% | 3.3% |
| Operating income | -3.3% | 25.8% | 7.9% |
| Net income | -3.6% | 10.4% | 7.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -17.9% | -23.6% | -19.5% | -14.1% |
| Net margin | -17.2% | -23.3% | -20.3% | -13.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -9.1 | -45.9 | -3.3 | -8.5 | -35.5 | -31.8 | — | -19.1 | -27.3 | 31.9 |
| Price to sales | 2.3 | 4.5 | 1.1 | 2.1 | 5.7 | 4.2 | 5.8 | 5.8 | 7.8 | 10.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 10-to-1 reverse split · 9 Jun 2022
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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