R 
99.20
-0.80%
Close of 9 Nov 2026, in DKK
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in DKK, from our data supplier.
Revenue
DKK 547.1m
FY2016FY2025
Net income
DKK 10.5m
FY2016FY2025
Free cash flow
DKK 53.5m
FY2016FY2025
Shareholders' equity
DKK 333.7m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | DKK 547.1m | DKK 498.3m | DKK 782.8m | DKK 663.3m | DKK 457.2m | DKK 555.9m | DKK 560.3m | DKK 475.3m | DKK 433.5m | DKK 395.6m |
| Research and development | DKK 36.2m | DKK 64.6m | DKK 45.4m | DKK 43.8m | DKK 34.3m | DKK 26.7m | DKK 22.2m | DKK 20.1m | DKK 19.4m | DKK 25.9m |
| Operating income | DKK 8.7m | −DKK 34.1m | DKK 67.9m | DKK 45.6m | DKK 6.1m | DKK 83.6m | DKK 86.7m | DKK 74.9m | DKK 72.3m | DKK 65.8m |
| Net income | DKK 10.5m | −DKK 30.7m | DKK 46.7m | DKK 33.9m | DKK 3.6m | DKK 63.1m | DKK 71.4m | DKK 60.0m | DKK 58.2m | DKK 49.5m |
| Diluted earnings per share | 1.32 | -3.85 | 5.70 | 4.14 | 0.45 | 7.47 | 8.39 | 6.91 | 6.69 | 5.49 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | DKK 490.5m | DKK 491.3m | DKK 578.1m | DKK 556.8m | DKK 485.3m | DKK 533.6m | DKK 463.3m | DKK 422.7m | DKK 353.0m | DKK 355.4m |
| Cash and short-term investments | DKK 153.0m | DKK 107.7m | DKK 137.7m | DKK 73.8m | DKK 120.4m | DKK 194.8m | DKK 226.7m | DKK 182.6m | DKK 151.3m | DKK 202.5m |
| Total liabilities | DKK 156.8m | DKK 167.8m | DKK 201.0m | DKK 225.2m | DKK 196.8m | DKK 181.4m | DKK 115.8m | DKK 110.7m | DKK 70.0m | DKK 74.9m |
| Debt | DKK 52.9m | DKK 55.2m | DKK 56.4m | DKK 59.2m | DKK 61.4m | DKK 52.0m | — | — | — | — |
| Shareholders' equity | DKK 333.7m | DKK 323.4m | DKK 377.1m | DKK 331.6m | DKK 288.5m | DKK 352.2m | DKK 347.4m | DKK 312.0m | DKK 283.0m | DKK 280.6m |
| Shares outstanding | 8m | 8m | 8m | 8m | 8m | 8m | 9m | 9m | 9m | 9m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | DKK 82.8m | DKK 21.5m | DKK 97.0m | −DKK 28,000 | DKK 44.5m | DKK 70.6m | DKK 107.7m | DKK 95.7m | DKK 46.7m | DKK 57.2m |
| Capital spending | −DKK 29.3m | −DKK 23.2m | −DKK 26.7m | −DKK 30.5m | −DKK 40.2m | −DKK 35.5m | −DKK 21.1m | −DKK 27.9m | −DKK 26.3m | −DKK 13.9m |
| Free cash flow | DKK 53.5m | −DKK 1.7m | DKK 70.3m | −DKK 30.5m | DKK 4.3m | DKK 35.1m | DKK 86.6m | DKK 67.7m | DKK 20.4m | DKK 43.3m |
| Dividends paid | — | — | — | — | −DKK 20.7m | −DKK 21.0m | −DKK 17.1m | −DKK 17.0m | −DKK 17.6m | −DKK 17.2m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | DKK 151.3m | DKK 156.6m | DKK 107.8m | DKK 139.8m | DKK 146.9m | DKK 159.9m | DKK 100.5m | DKK 149.3m |
| Operating income | DKK 5.9m | DKK 13.1m | −DKK 10.9m | DKK 6.3m | DKK 7.9m | DKK 10.2m | −DKK 15.6m | DKK 16.5m |
| Net income | DKK 4.4m | DKK 10.6m | −DKK 8.3m | DKK 4.5m | DKK 5.2m | DKK 7.9m | −DKK 7.2m | DKK 9.4m |
| Diluted earnings per share | 0.56 | 1.35 | -1.04 | 0.57 | 0.66 | 1.00 | -0.90 | 1.18 |
| Cash from operations | DKK 22.0m | −DKK 4.0m | DKK 13.0m | DKK 41.0m | DKK 19.0m | DKK 27.0m | −DKK 7.0m | DKK 17.0m |
| Capital spending | — | — | — | −DKK 8.0m | −DKK 8.0m | −DKK 6.0m | −DKK 6.0m | −DKK 4.0m |
| Free cash flow | — | — | — | DKK 33.0m | DKK 11.0m | DKK 21.0m | −DKK 13.0m | DKK 13.0m |
| Total assets | DKK 507.5m | DKK 507.8m | DKK 474.5m | DKK 490.5m | DKK 499.8m | DKK 497.9m | DKK 471.6m | DKK 491.3m |
| Cash and short-term investments | DKK 135.9m | DKK 127.5m | DKK 149.0m | DKK 153.0m | DKK 118.9m | DKK 108.3m | DKK 96.6m | DKK 107.7m |
| Debt | DKK 8.3m | DKK 8.3m | DKK 7.9m | DKK 7.7m | DKK 7.7m | DKK 15.6m | DKK 7.0m | DKK 7.0m |
| Shareholders' equity | DKK 326.2m | DKK 324.9m | DKK 320.3m | DKK 333.7m | DKK 331.0m | DKK 327.3m | DKK 319.9m | DKK 323.4m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -6.2% | -0.3% | 4.6% |
| Operating income | -42.3% | -36.3% | -16.4% |
| Net income | -32.4% | -30.2% | -14.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -2.4% | 3.5% | 5.1% | 9.3% |
| Net margin | -1.9% | 2.4% | 3.6% | 7.3% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 81.5 | -14.7 | 12.1 | 28.4 | 441.2 | 31.5 | 21.8 | 23.4 | 22.1 | 25.8 |
| Price to sales | 1.6 | 0.9 | 0.7 | 1.4 | 3.5 | 3.6 | 2.8 | 3.0 | 3.0 | 3.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 29 Jan 2021.
| FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 2.50 | 2.50 | 2.00 | 2.00 | 2.00 | 2.00 | 0.50 | 0.50 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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