S 
1.42
-1.39%
Close of 9 Nov 2026, in NOK
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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 1.60bn
FY2016FY2025
Net income
−NOK 36.4m
FY2016FY2025
Free cash flow
NOK 132.5m
FY2016FY2025
Shareholders' equity
NOK 628.2m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | NOK 1.60bn | NOK 1.92bn | NOK 1.61bn | NOK 886.8m | NOK 304.3m | NOK 303.4m | NOK 360.9m | NOK 283.8m | NOK 645.1m | NOK 645.7m |
| Research and development | — | — | NOK 2.7m | NOK 2.8m | NOK 972,000 | NOK 972,000 | — | — | — | — |
| Operating income | −NOK 12.7m | NOK 147.6m | NOK 83.3m | −NOK 19.1m | NOK 8.4m | NOK 37.8m | NOK 3.2m | −NOK 17.6m | −NOK 72.4m | −NOK 24.4m |
| Net income | −NOK 36.4m | NOK 83.3m | NOK 71.6m | −NOK 44.5m | NOK 26.8m | NOK 50.3m | NOK 3.3m | −NOK 143.8m | −NOK 33.5m | NOK 28.5m |
| Diluted earnings per share | -0.08 | 0.18 | 0.16 | -0.10 | 0.25 | 0.47 | 0.03 | -1.34 | -0.31 | 0.27 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | NOK 1.50bn | NOK 1.57bn | NOK 1.50bn | NOK 1.38bn | NOK 223.4m | NOK 244.0m | NOK 225.7m | NOK 286.3m | NOK 587.5m | NOK 689.7m |
| Cash and short-term investments | NOK 53.8m | NOK 7.3m | NOK 36.4m | NOK 2.6m | NOK 29.0m | NOK 37.5m | NOK 14.1m | NOK 2.8m | NOK 10.5m | NOK 49.3m |
| Total liabilities | NOK 873.0m | NOK 908.3m | NOK 914.0m | NOK 885.7m | NOK 121.3m | NOK 169.6m | NOK 203.2m | NOK 273.5m | NOK 411.8m | NOK 476.3m |
| Debt | NOK 333.4m | NOK 380.5m | NOK 523.4m | NOK 564.1m | NOK 46.2m | NOK 70.7m | NOK 90.6m | NOK 174.8m | NOK 216.2m | NOK 179.2m |
| Shareholders' equity | NOK 628.2m | NOK 663.0m | NOK 581.2m | NOK 492.6m | NOK 102.1m | NOK 74.3m | NOK 22.5m | NOK 12.7m | NOK 175.7m | NOK 213.3m |
| Shares outstanding | 454m | 454m | 446m | 441m | 108m | 108m | 108m | 108m | 108m | 108m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | NOK 179.6m | NOK 146.5m | NOK 157.9m | NOK 70.0m | NOK 25.1m | NOK 39.0m | NOK 56.7m | −NOK 57.9m | −NOK 27.7m | NOK 29.0m |
| Capital spending | −NOK 47.1m | −NOK 81.0m | −NOK 32.7m | −NOK 19.4m | −NOK 1.8m | −NOK 1.1m | −NOK 2.8m | −NOK 37.7m | −NOK 23.8m | −NOK 16.4m |
| Free cash flow | NOK 132.5m | NOK 65.5m | NOK 125.2m | NOK 50.6m | NOK 23.2m | NOK 38.0m | NOK 53.9m | −NOK 95.5m | −NOK 51.5m | NOK 12.6m |
| Dividends paid | — | −NOK 22.6m | — | — | — | — | — | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | NOK 388.4m | NOK 417.2m | NOK 450.3m | NOK 382.7m | NOK 395.8m | NOK 367.9m | NOK 448.3m | NOK 435.8m |
| Operating income | NOK 16.0m | NOK 19.1m | NOK 39.5m | NOK 5.8m | −NOK 22.5m | −NOK 28.4m | −NOK 3.2m | NOK 29.5m |
| Net income | NOK 4.2m | NOK 10.6m | NOK 18.2m | −NOK 800,000 | −NOK 25.1m | −NOK 28.6m | −NOK 11.6m | NOK 11.1m |
| Diluted earnings per share | 0.01 | 0.02 | 0.04 | -0.00 | -0.06 | -0.06 | -0.03 | 0.02 |
| Cash from operations | NOK 80.0m | −NOK 4.0m | NOK 179.0m | NOK 39.0m | NOK 21.0m | −NOK 22.0m | NOK 146.0m | NOK 115.0m |
| Capital spending | −NOK 1.0m | −NOK 3.0m | −NOK 47.0m | −NOK 39.0m | −NOK 32.0m | −NOK 18.0m | −NOK 81.0m | −NOK 29.0m |
| Free cash flow | NOK 79.0m | −NOK 7.0m | NOK 132.0m | NOK 0 | −NOK 11.0m | −NOK 40.0m | NOK 65.0m | NOK 86.0m |
| Total assets | NOK 1.47bn | NOK 1.50bn | NOK 1.50bn | NOK 1.58bn | NOK 1.58bn | NOK 1.51bn | NOK 1.57bn | NOK 1.58bn |
| Cash and short-term investments | — | — | NOK 53.8m | NOK 3.9m | NOK 7.4m | NOK 2.0m | NOK 7.3m | NOK 72.9m |
| Debt | NOK 21.7m | NOK 28.1m | NOK 333.4m | NOK 350.0m | NOK 367.7m | NOK 383.5m | NOK 380.5m | NOK 393.4m |
| Shareholders' equity | NOK 641.2m | NOK 636.8m | NOK 628.2m | NOK 608.8m | NOK 609.6m | NOK 635.4m | NOK 663.0m | NOK 674.3m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 21.7% | 39.4% | 3.2% |
| Operating income | -12.8% | — | -15.6% |
| Net income | -6.5% | — | -6.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 3.8% | 3.3% | 3.7% | 0.7% |
| Net margin | 1.3% | 1.2% | 2.3% | -0.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -16.9 | 15.6 | 12.9 | -10.3 | 6.0 | 4.9 | 26.2 | -0.5 | -3.6 | 5.2 |
| Price to sales | 0.4 | 0.7 | 0.6 | 0.5 | 0.5 | 0.8 | 0.2 | 0.2 | 0.2 | 0.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 21 Mar 2024.
| FY2024 | FY2010 | FY2009 | FY2008 | FY2007 | FY2006 | FY2000 | FY1999 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.05 | 30.00 | 30.00 | 49.068 | 32.385 | 15.702 | 24.534 | 117.763 |
- 10-to-1 reverse split · 14 Jul 2015
- 10-to-1 reverse split · 28 May 2013
- 1.019-for-1 split · 30 Apr 2009
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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