S 
11.82
+5.54%
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 434.4m
FY2016FY2025
Net income
SEK 284.7m
FY2016FY2025
Free cash flow
SEK 200.3m
FY2016FY2025
Shareholders' equity
SEK 635.2m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 434.4m | SEK 334.7m | SEK 16.8m | SEK 15.3m | SEK 10.5m | SEK 8.2m | SEK 2.7m | SEK 54.9m | SEK 20.7m | SEK 74.9m |
| Research and development | — | — | SEK 22.8m | SEK 96.4m | SEK 155.7m | — | — | — | SEK 26.9m | SEK 29.8m |
| Operating income | SEK 274.7m | SEK 241.9m | −SEK 81.1m | −SEK 206.2m | −SEK 407.5m | −SEK 70.2m | −SEK 103.9m | −SEK 54.2m | −SEK 57.2m | SEK 4.4m |
| Net income | SEK 284.7m | SEK 188.7m | −SEK 95.8m | −SEK 245.4m | −SEK 410.9m | −SEK 73.4m | −SEK 75.8m | −SEK 41.1m | −SEK 49.2m | SEK 2.2m |
| Diluted earnings per share | 2.06 | 1.66 | -1.26 | -3.33 | -6.59 | -1.73 | -2.72 | -1.78 | -2.20 | 0.10 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SEK 679.7m | SEK 339.7m | SEK 64.1m | SEK 153.7m | SEK 440.2m | SEK 692.2m | SEK 96.0m | SEK 83.1m | SEK 48.4m | SEK 70.8m |
| Cash and short-term investments | SEK 580.8m | SEK 303.3m | SEK 31.0m | SEK 111.7m | SEK 356.9m | SEK 573.9m | SEK 40.2m | SEK 54.7m | SEK 22.3m | SEK 53.3m |
| Total liabilities | SEK 44.6m | SEK 107.9m | SEK 86.1m | SEK 101.0m | SEK 158.2m | SEK 88.7m | SEK 37.6m | SEK 43.6m | SEK 10.7m | SEK 16.5m |
| Debt | — | SEK 10.5m | SEK 71.4m | SEK 81.5m | SEK 99.8m | SEK 47.5m | SEK 2.1m | SEK 6.0m | — | — |
| Shareholders' equity | SEK 635.2m | SEK 231.8m | −SEK 21.9m | SEK 52.7m | SEK 282.0m | SEK 603.5m | SEK 58.4m | SEK 39.5m | SEK 37.6m | SEK 54.3m |
| Shares outstanding | 138m | 114m | 76m | 74m | 62m | 42m | 28m | 23m | 22m | 21m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | SEK 273.9m | SEK 249.2m | −SEK 85.5m | −SEK 281.5m | −SEK 345.0m | −SEK 174.7m | −SEK 98.5m | −SEK 22.9m | −SEK 57.3m | SEK 8.0m |
| Capital spending | −SEK 73.6m | −SEK 124,000 | −SEK 129,000 | −SEK 985,000 | −SEK 1.5m | −SEK 5.0m | −SEK 3.5m | −SEK 1.1m | −SEK 708,000 | −SEK 816,000 |
| Free cash flow | SEK 200.3m | SEK 249.1m | −SEK 85.7m | −SEK 282.5m | −SEK 346.5m | −SEK 179.7m | −SEK 102.0m | −SEK 24.0m | −SEK 58.0m | SEK 7.1m |
| Dividends paid | — | — | — | — | — | — | — | — | — | −SEK 403,000 |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 4.5m | SEK 4.7m | SEK 4.6m | SEK 410.7m | SEK 9.3m | SEK 9.8m | SEK 313.4m | SEK 7.2m |
| Operating income | −SEK 58.8m | −SEK 55.5m | −SEK 46.2m | SEK 359.9m | −SEK 25.9m | −SEK 16.4m | SEK 290.4m | −SEK 18.7m |
| Net income | −SEK 58.3m | −SEK 46.2m | −SEK 41.7m | SEK 329.6m | −SEK 22.2m | SEK 18.9m | SEK 247.1m | −SEK 29.5m |
| Diluted earnings per share | -0.42 | -0.33 | -0.30 | 2.39 | -0.16 | 0.14 | 2.17 | -0.26 |
| Cash from operations | −SEK 48.0m | −SEK 50.0m | −SEK 79.0m | SEK 371.0m | SEK 10.0m | −SEK 31.0m | SEK 292.0m | −SEK 15.0m |
| Capital spending | −SEK 3.0m | −SEK 1.0m | — | −SEK 1.0m | −SEK 72.0m | — | — | — |
| Free cash flow | −SEK 51.0m | −SEK 51.0m | — | SEK 370.0m | −SEK 62.0m | — | — | — |
| Total assets | SEK 601.0m | SEK 651.5m | SEK 679.7m | SEK 766.3m | SEK 421.7m | SEK 325.0m | SEK 339.7m | SEK 81.9m |
| Cash and short-term investments | SEK 486.3m | SEK 532.0m | SEK 580.8m | SEK 672.8m | SEK 308.2m | SEK 260.7m | SEK 303.3m | SEK 41.3m |
| Debt | — | — | — | SEK 268,000 | SEK 6.4m | SEK 10.9m | SEK 10.5m | SEK 44.1m |
| Shareholders' equity | SEK 548.2m | SEK 598.3m | SEK 635.2m | SEK 689.5m | SEK 356.3m | SEK 242.7m | SEK 231.8m | −SEK 20.9m |
Financial ratios
Data as of 23 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|
| Operating margin | 70.8% | 73.0% | -462.8% | -1349.4% | -3889.4% | -852.2% | — | — | — |
| Net margin | 65.5% | 56.4% | -568.9% | -1605.4% | -3921.5% | -895.7% | — | — | — |
| Return on equity | 44.8% | 81.4% | 436.7% | -465.5% | -145.7% | -12.2% | — | — | — |
| Return on assets | 41.9% | 55.5% | -149.4% | -159.6% | -93.3% | -10.6% | — | — | — |
| Free cash flow yield | 23.5% | 20.4% | -10.5% | -35.5% | -51.4% | -37.4% | — | — | — |
| Revenue growth | 29.8% | 1887.4% | 10.2% | 45.9% | 27.8% | 208.4% | — | — | — |
| Earnings growth | 50.9% | -297.0% | -61.0% | -40.3% | 459.6% | -3.1% | — | — | — |
| Current ratio | 13.48x | 3.08x | 2.55x | 5.56x | 5.99x | 8.46x | — | — | — |
| Debt to equity | — | 0.05x | -3.22x | 1.45x | 0.35x | 0.05x | 0.01x | — | — |
| Equity ratio | 93.4% | 68.2% | -34.2% | 34.3% | 64.1% | 87.2% | — | — | — |
| Interest coverage | 63.42x | 6.11x | -3.13x | -14.02x | -37.57x | -6.16x | — | — | — |
| R&D as a share of sales | — | — | 135.3% | 630.8% | 1486.0% | — | — | 130.0% | 39.8% |
| Buybacks as a share of market value | -21.2% | -50.2% | -2.8% | -18.2% | -47.2% | -52.1% | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 205.2% | 121.2% | 41.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 67.2% | 28.6% | -30.3% | -49.4% |
| Net margin | 61.6% | 16.5% | -42.9% | -54.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 10.3 | 4.8 | -1.7 | -0.3 | -0.4 | -3.8 | -3.0 | -5.6 | -4.3 | 122.7 |
| Price to sales | 6.7 | 2.7 | 9.4 | 4.7 | 16.8 | 33.9 | 85.8 | 4.2 | 10.3 | 3.6 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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