Q 
14.05
+4.07%
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 11.1m
FY2016FY2025
Net income
−SEK 182.5m
FY2016FY2025
Free cash flow
−SEK 169.7m
FY2016FY2025
Shareholders' equity
SEK 338.0m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 11.1m | SEK 2.4m | SEK 4.4m | SEK 12.8m | SEK 9.3m | SEK 243,000 | SEK 1.0m | SEK 1.1m | SEK 1.5m | SEK 81,000 |
| Research and development | — | — | SEK 128.1m | SEK 152.0m | SEK 156.9m | SEK 156.4m | SEK 121.7m | SEK 98.1m | SEK 53.7m | — |
| Operating income | −SEK 176.7m | −SEK 213.2m | −SEK 230.6m | −SEK 262.2m | −SEK 233.6m | −SEK 221.5m | −SEK 179.1m | −SEK 127.4m | −SEK 67.9m | −SEK 60.1m |
| Net income | −SEK 182.5m | −SEK 216.9m | −SEK 229.4m | −SEK 275.8m | −SEK 233.2m | −SEK 220.2m | −SEK 178.1m | −SEK 128.4m | −SEK 67.9m | −SEK 60.1m |
| Diluted earnings per share | -14.52 | -0.26 | -1.96 | -9.44 | -8.26 | -8.15 | -7.77 | -5.51 | -2.92 | -2.58 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SEK 369.7m | SEK 148.0m | SEK 232.0m | SEK 207.4m | SEK 466.6m | SEK 412.2m | SEK 374.4m | SEK 539.1m | SEK 18.4m | SEK 16.9m |
| Cash and short-term investments | SEK 258.1m | SEK 25.7m | SEK 81.9m | SEK 72.6m | SEK 166.0m | SEK 306.9m | SEK 206.5m | SEK 504.4m | SEK 6.6m | SEK 7.3m |
| Total liabilities | SEK 31.7m | SEK 175.4m | SEK 42.3m | SEK 45.8m | SEK 35.8m | SEK 32.0m | SEK 33.5m | SEK 25.6m | SEK 16.9m | SEK 8.4m |
| Debt | SEK 5.8m | SEK 151.2m | SEK 20.6m | SEK 20.9m | SEK 18.2m | SEK 331,000 | SEK 709,000 | SEK 1.1m | — | — |
| Shareholders' equity | SEK 338.0m | −SEK 27.5m | SEK 189.6m | SEK 161.6m | SEK 430.8m | SEK 380.2m | SEK 340.9m | SEK 513.5m | SEK 1.5m | SEK 8.5m |
| Shares outstanding | 13m | 828m | 117m | 29m | 28m | 27m | 23m | 23m | 23m | 23m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −SEK 162.1m | −SEK 182.5m | −SEK 228.5m | −SEK 250.9m | −SEK 255.1m | −SEK 237.3m | −SEK 169.8m | −SEK 122.7m | −SEK 62.9m | −SEK 52.8m |
| Capital spending | −SEK 7.6m | −SEK 5.0m | −SEK 8.3m | −SEK 17.2m | −SEK 12.0m | −SEK 13.2m | −SEK 7.6m | −SEK 1.4m | −SEK 938,000 | −SEK 1.0m |
| Free cash flow | −SEK 169.7m | −SEK 187.5m | −SEK 236.9m | −SEK 268.1m | −SEK 267.0m | −SEK 250.5m | −SEK 177.4m | −SEK 124.1m | −SEK 63.8m | −SEK 53.9m |
| Dividends paid | — | — | — | — | — | — | −SEK 1.1m | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 1.5m | SEK 2.0m | SEK 2.9m | SEK 3.5m | SEK 1.1m | SEK 3.7m | SEK 158,000 | SEK 569,000 |
| Operating income | −SEK 34.4m | −SEK 35.1m | −SEK 44.1m | −SEK 40.6m | −SEK 47.3m | −SEK 44.6m | −SEK 50.8m | −SEK 41.2m |
| Net income | −SEK 29.9m | −SEK 33.6m | −SEK 46.9m | −SEK 42.2m | −SEK 48.2m | −SEK 45.2m | −SEK 52.8m | −SEK 42.4m |
| Diluted earnings per share | -1.58 | -1.77 | -3.73 | -3.36 | -3.83 | -3.60 | -0.06 | -0.05 |
| Cash from operations | −SEK 30.0m | −SEK 30.0m | −SEK 39.0m | −SEK 36.0m | −SEK 36.0m | −SEK 50.0m | −SEK 40.0m | −SEK 50.0m |
| Capital spending | −SEK 30.0m | −SEK 2.0m | — | −SEK 2.0m | −SEK 4.0m | — | — | −SEK 1.0m |
| Free cash flow | −SEK 60.0m | −SEK 32.0m | — | −SEK 38.0m | −SEK 40.0m | — | — | −SEK 51.0m |
| Total assets | SEK 314.8m | SEK 333.6m | SEK 369.7m | SEK 155.4m | SEK 201.0m | SEK 193.9m | SEK 148.0m | SEK 138.6m |
| Cash and short-term investments | SEK 186.8m | SEK 223.9m | SEK 258.1m | SEK 42.6m | SEK 82.7m | SEK 68.0m | SEK 25.7m | SEK 7.5m |
| Debt | SEK 11.7m | SEK 3.2m | SEK 9.8m | SEK 47.9m | SEK 49.2m | SEK 51.1m | SEK 151.2m | SEK 85.2m |
| Shareholders' equity | SEK 274.7m | SEK 304.6m | SEK 338.0m | SEK 87.5m | SEK 129.5m | SEK 120.0m | −SEK 27.5m | SEK 25.7m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -4.6% | 114.7% | — |
| Operating income | -12.3% | -4.4% | — |
| Net income | -12.9% | -3.7% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Price to earnings | -1.7 | -34.4 | -24.7 | -14.5 | -108.6 | -165.5 | -58.7 | -87.1 |
| Price to sales | 28.2 | — | — | 313.4 | — | — | — | — |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 1000-to-1 reverse split · 14 Jul 2025
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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