S 
2.17
-1.36%
Close of 9 Nov 2026, in NOK
Search any instrument
Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in NOK, from our data supplier.
Revenue
NOK 325.3m
FY2018FY2025
Net income
−NOK 171.6m
FY2018FY2025
Free cash flow
−NOK 1.32bn
FY2018FY2025
Shareholders' equity
NOK 2.06bn
FY2018FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | NOK 325.3m | NOK 467.7m | NOK 153.3m | NOK 46.1m | NOK 12.0m | NOK 704,000 | — | — |
| Operating income | — | −NOK 15.2m | −NOK 110.5m | −NOK 62.9m | −NOK 37.8m | −NOK 17.7m | −NOK 11.9m | −NOK 2.0m |
| Net income | −NOK 171.6m | −NOK 47.4m | −NOK 145.8m | −NOK 32.7m | −NOK 26.4m | −NOK 16.8m | −NOK 11.3m | −NOK 2.0m |
| Diluted earnings per share | -0.55 | -0.15 | -0.47 | -0.11 | -0.09 | -0.08 | -0.04 | -0.01 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Total assets | NOK 4.22bn | NOK 3.18bn | NOK 2.71bn | NOK 2.31bn | NOK 1.71bn | NOK 892.8m | NOK 50.5m | NOK 2.0m |
| Cash and short-term investments | NOK 163.4m | NOK 425.8m | NOK 382.8m | NOK 275.9m | NOK 503.8m | NOK 647.0m | NOK 20.6m | NOK 321,000 |
| Total liabilities | NOK 2.15bn | NOK 961.1m | NOK 788.9m | NOK 742.3m | NOK 408.4m | NOK 104.4m | NOK 12.3m | NOK 3.4m |
| Debt | NOK 1.58bn | NOK 578.8m | NOK 578.2m | NOK 522.8m | NOK 213.2m | NOK 933,000 | NOK 1.7m | NOK 1.5m |
| Shareholders' equity | NOK 2.06bn | NOK 2.22bn | NOK 1.92bn | NOK 1.56bn | NOK 1.30bn | NOK 788.4m | NOK 38.2m | −NOK 1.3m |
| Shares outstanding | 311m | 311m | 311m | 311m | 311m | 220m | 311m | 311m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | −NOK 59.1m | NOK 43.3m | −NOK 189.1m | −NOK 76.1m | −NOK 66.7m | −NOK 10.0m | −NOK 2.6m | −NOK 734,000 |
| Capital spending | −NOK 1.26bn | −NOK 370.8m | −NOK 360.6m | −NOK 763.5m | −NOK 798.0m | −NOK 165.5m | −NOK 25.0m | −NOK 506,000 |
| Free cash flow | −NOK 1.32bn | −NOK 327.4m | −NOK 549.6m | −NOK 839.6m | −NOK 864.7m | −NOK 175.6m | −NOK 27.6m | −NOK 1.2m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | NOK 66.6m | NOK 152.2m | NOK 98.7m | NOK 86.6m | NOK 90.2m | NOK 49.7m | NOK 150.1m | NOK 51.1m |
| Operating income | −NOK 31.2m | −NOK 11.3m | −NOK 7.0m | −NOK 31.9m | −NOK 46.8m | −NOK 43.7m | −NOK 21.8m | −NOK 14.2m |
| Net income | −NOK 43.4m | −NOK 38.2m | NOK 1.1m | −NOK 46.3m | −NOK 71.7m | −NOK 52.4m | −NOK 26.9m | −NOK 25.6m |
| Diluted earnings per share | -0.14 | -0.12 | 0.00 | -0.15 | -0.23 | -0.17 | -0.09 | -0.08 |
| Cash from operations | −NOK 23.0m | −NOK 25.0m | −NOK 59.0m | −NOK 82.0m | −NOK 40.0m | −NOK 6.0m | NOK 43.0m | NOK 42.0m |
| Capital spending | −NOK 243.0m | −NOK 289.0m | −NOK 1.26bn | −NOK 864.0m | −NOK 515.0m | −NOK 238.0m | −NOK 369.0m | −NOK 239.0m |
| Free cash flow | −NOK 266.0m | −NOK 314.0m | −NOK 1.32bn | −NOK 946.0m | −NOK 555.0m | −NOK 244.0m | −NOK 326.0m | −NOK 197.0m |
| Total assets | NOK 4.93bn | NOK 4.53bn | NOK 4.22bn | NOK 3.81bn | NOK 3.43bn | NOK 3.44bn | NOK 3.18bn | NOK 3.11bn |
| Cash and short-term investments | — | — | NOK 163.4m | NOK 156.4m | NOK 128.8m | NOK 417.9m | NOK 429.5m | NOK 563.3m |
| Debt | NOK 2.07bn | NOK 17.3m | NOK 1.58bn | NOK 1.19bn | NOK 851.1m | NOK 850.8m | NOK 578.8m | NOK 576.9m |
| Shareholders' equity | NOK 2.37bn | NOK 2.02bn | NOK 2.06bn | NOK 2.05bn | NOK 2.10bn | NOK 2.17bn | NOK 2.22bn | NOK 2.25bn |
Financial ratios
Data as of 29 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -43.7% | -3.3% | -72.1% | -136.5% | -315.8% | -2511.9% |
| Net margin | -52.8% | -10.1% | -95.1% | -71.0% | -219.5% | -2390.1% |
| Return on equity | -8.3% | -2.1% | -7.6% | -2.1% | -2.0% | -2.1% |
| Return on assets | -4.1% | -1.5% | -5.4% | -1.4% | -1.6% | -1.9% |
| Free cash flow yield | — | — | — | — | 82.3% | 24.7% |
| Revenue growth | -30.5% | 205.1% | 232.5% | 282.7% | 1611.2% | — |
| Earnings growth | 262.0% | -67.5% | 345.4% | 23.8% | 57.2% | 49.3% |
| Current ratio | 0.84x | 2.03x | 3.13x | 2.16x | 3.35x | 6.48x |
| Debt to equity | 0.75x | 0.26x | 0.30x | 0.33x | 0.16x | 0.00x |
| Equity ratio | 48.9% | 69.8% | 70.9% | 67.8% | 76.1% | 88.3% |
| Interest coverage | -4.85x | -0.29x | -3.26x | -20.89x | -37.78x | -310.25x |
| Buybacks as a share of market value | — | — | — | — | -41.4% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 91.8% | 241.1% | — |
| Net income | 73.7% | 59.1% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Net margin | -27.6% | -40.1% | -43.9% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Price to earnings | -9.4 | -43.8 | -14.5 | -78.5 | -101.1 | -89.5 |
| Price to sales | 4.9 | 4.4 | 13.7 | 55.8 | 221.9 | — |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
Nothing here is investment advice. Prices can be delayed or wrong, so check with the exchange before relying on them. Data for this page. How we cover markets.