R 
16.32
-0.73%
Close of 9 Nov 2026, in PLN
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in PLN, from our data supplier.
Revenue
PLN 62.3m
FY2016FY2025
Net income
−PLN 101.2m
FY2016FY2025
Free cash flow
−PLN 117.8m
FY2016FY2025
Shareholders' equity
PLN 53.8m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 62.3m | PLN 78.0m | PLN 46.9m | PLN 38.8m | PLN 11.2m | PLN 15.4m | PLN 42.6m | PLN 77.2m | PLN 87.8m | PLN 48.1m |
| Research and development | — | — | — | PLN 26.0m | PLN 15.0m | PLN 13.0m | PLN 67.6m | PLN 53.9m | PLN 27.1m | PLN 17.3m |
| Operating income | −PLN 122.2m | −PLN 122.1m | −PLN 100.9m | −PLN 78.4m | −PLN 78.5m | −PLN 35.7m | −PLN 45.1m | −PLN 13.6m | PLN 12.6m | −PLN 1.2m |
| Net income | −PLN 101.2m | −PLN 111.4m | −PLN 92.1m | −PLN 83.8m | −PLN 79.1m | −PLN 31.7m | −PLN 36.0m | −PLN 106,320 | PLN 6.4m | PLN 2.7m |
| Diluted earnings per share | -4.38 | -4.82 | -3.98 | -4.57 | -4.31 | -1.89 | -2.25 | -0.01 | 0.40 | 0.20 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | PLN 224.4m | PLN 378.8m | PLN 403.2m | PLN 475.0m | PLN 228.8m | PLN 295.6m | PLN 182.9m | PLN 255.7m | PLN 103.6m | PLN 89.1m |
| Cash and short-term investments | PLN 107.7m | PLN 225.4m | PLN 233.7m | PLN 102.4m | PLN 88.2m | PLN 161.2m | PLN 72.1m | PLN 110.4m | PLN 36.1m | PLN 29.1m |
| Total liabilities | PLN 153.7m | PLN 234.9m | PLN 143.6m | PLN 131.6m | PLN 59.4m | PLN 71.9m | PLN 63.1m | PLN 60.8m | PLN 39.6m | PLN 33.4m |
| Debt | PLN 71.7m | PLN 75.5m | PLN 906,000 | PLN 2.8m | PLN 5.1m | PLN 7.4m | PLN 9.2m | PLN 13.5m | PLN 8.0m | PLN 9.6m |
| Shareholders' equity | PLN 53.8m | PLN 143.9m | PLN 259.6m | PLN 343.4m | PLN 161.3m | PLN 223.7m | PLN 119.8m | PLN 191.9m | PLN 62.3m | PLN 55.4m |
| Shares outstanding | 23m | 23m | 23m | 18m | 18m | 17m | 16m | 16m | 16m | 13m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −PLN 110.3m | −PLN 129.5m | −PLN 84.5m | PLN 21.3m | −PLN 57.9m | −PLN 10.6m | −PLN 17.4m | −PLN 36.4m | PLN 11.0m | −PLN 6.3m |
| Capital spending | −PLN 7.5m | −PLN 5.9m | −PLN 8.6m | −PLN 9.3m | −PLN 12.0m | −PLN 34.2m | −PLN 24.0m | −PLN 23.4m | −PLN 21.6m | −PLN 21.2m |
| Free cash flow | −PLN 117.8m | −PLN 135.4m | −PLN 93.1m | PLN 12.0m | −PLN 69.8m | −PLN 44.8m | −PLN 41.4m | −PLN 59.9m | −PLN 10.6m | −PLN 27.5m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 12.0m | PLN 17.0m | PLN 18.0m | PLN 14.9m | PLN 12.4m | PLN 16.9m | PLN 25.5m | PLN 15.1m |
| Operating income | −PLN 16.7m | −PLN 12.4m | −PLN 24.5m | −PLN 29.7m | −PLN 27.7m | −PLN 37.7m | −PLN 40.5m | −PLN 26.3m |
| Net income | −PLN 13.1m | −PLN 12.6m | −PLN 17.6m | −PLN 24.7m | −PLN 33.7m | −PLN 25.3m | −PLN 35.1m | −PLN 26.6m |
| Diluted earnings per share | -0.56 | -0.55 | -0.76 | -1.07 | -1.46 | -1.09 | -1.52 | -1.15 |
| Cash from operations | −PLN 9.0m | −PLN 22.0m | −PLN 26.0m | −PLN 17.0m | −PLN 24.0m | −PLN 44.0m | −PLN 27.0m | −PLN 36.0m |
| Capital spending | — | — | −PLN 4.0m | −PLN 1.0m | — | — | — | −PLN 3.0m |
| Free cash flow | — | — | −PLN 30.0m | −PLN 18.0m | — | — | — | −PLN 39.0m |
| Total assets | PLN 182.6m | PLN 201.0m | PLN 224.4m | PLN 255.3m | PLN 281.2m | PLN 318.5m | PLN 378.8m | PLN 403.2m |
| Cash and short-term investments | — | PLN 79.0m | PLN 107.7m | PLN 130.7m | PLN 150.9m | PLN 174.0m | PLN 225.4m | PLN 245.0m |
| Debt | PLN 73.7m | PLN 73.1m | PLN 70.8m | PLN 69.5m | PLN 67.6m | PLN 72.9m | PLN 74.1m | PLN 72.2m |
| Shareholders' equity | PLN 28.4m | PLN 41.3m | PLN 53.8m | PLN 71.2m | PLN 95.2m | PLN 119.6m | PLN 143.9m | PLN 177.8m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 17.1% | 32.2% | 4.3% |
| Operating income | 15.9% | 27.9% | — |
| Net income | 6.5% | 26.1% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -174.2% | -187.5% | -213.0% | -106.2% |
| Net margin | -151.7% | -172.0% | -197.8% | -94.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -6.2 | -8.0 | -14.4 | -10.8 | -14.2 | -26.0 | -20.0 | -4944.8 | 89.2 | 87.4 |
| Price to sales | 10.1 | 11.4 | 28.4 | 23.3 | 100.1 | 53.4 | 16.9 | 6.8 | 6.5 | 4.9 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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