S 
0.10
-6.31%
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 31.5m
FY2016FY2025
Net income
−SEK 366.6m
FY2016FY2025
Free cash flow
−SEK 191.3m
FY2016FY2025
Shareholders' equity
SEK 225.8m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 31.5m | SEK 170.8m | SEK 13.9m | SEK 8.0m | SEK 7.6m | SEK 1.5m | SEK 1.1m | SEK 1.1m | SEK 736,000 | SEK 205,000 |
| Research and development | — | SEK 6.5m | SEK 6.5m | SEK 5.7m | SEK 5.2m | SEK 5.1m | SEK 5.1m | SEK 5.1m | SEK 4.9m | — |
| Operating income | −SEK 101.8m | SEK 49.9m | −SEK 93.7m | −SEK 83.8m | −SEK 56.7m | −SEK 49.6m | −SEK 44.3m | −SEK 36.1m | −SEK 36.2m | −SEK 33.3m |
| Net income | −SEK 366.6m | SEK 53.6m | −SEK 92.3m | −SEK 83.4m | −SEK 57.3m | −SEK 50.4m | −SEK 45.3m | −SEK 38.8m | −SEK 36.9m | −SEK 34.5m |
| Diluted earnings per share | -0.33 | 0.07 | -0.11 | -0.13 | -0.09 | -0.09 | -0.13 | -0.27 | -0.28 | -0.66 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SEK 281.0m | SEK 444.9m | SEK 381.4m | SEK 170.8m | SEK 243.0m | SEK 156.6m | SEK 176.8m | SEK 189.0m | SEK 140.3m | SEK 181.0m |
| Cash and short-term investments | SEK 73.5m | SEK 75.3m | SEK 214.9m | SEK 30.0m | SEK 123.2m | SEK 39.6m | SEK 58.7m | SEK 24.9m | SEK 9.5m | SEK 40.3m |
| Total liabilities | SEK 55.3m | SEK 57.5m | SEK 47.6m | SEK 27.3m | SEK 15.9m | SEK 15.0m | SEK 17.7m | SEK 31.0m | SEK 27.1m | SEK 30.9m |
| Debt | SEK 3.6m | SEK 4.4m | SEK 5.2m | SEK 6.0m | SEK 776,000 | SEK 3.9m | SEK 7.1m | SEK 10.3m | SEK 18.2m | SEK 21.4m |
| Shareholders' equity | SEK 225.8m | SEK 387.4m | SEK 333.8m | SEK 143.6m | SEK 227.2m | SEK 141.6m | SEK 159.1m | SEK 158.0m | SEK 113.2m | SEK 150.1m |
| Shares outstanding | 1,096m | 807m | 807m | 657m | 657m | 581m | 343m | 141m | 130m | 52m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −SEK 71.2m | SEK 54.2m | −SEK 57.8m | −SEK 65.7m | −SEK 41.3m | −SEK 37.6m | −SEK 31.0m | −SEK 25.0m | −SEK 26.9m | −SEK 26.1m |
| Capital spending | −SEK 120.1m | −SEK 84.6m | −SEK 39.0m | −SEK 32.9m | −SEK 14.4m | −SEK 10.8m | −SEK 10.9m | −SEK 811,000 | −SEK 2.2m | −SEK 4.1m |
| Free cash flow | −SEK 191.3m | −SEK 30.3m | −SEK 96.8m | −SEK 98.7m | −SEK 55.7m | −SEK 48.4m | −SEK 41.8m | −SEK 25.8m | −SEK 29.1m | −SEK 30.2m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 258,000 | SEK 7.3m | SEK 2.6m | SEK 1.6m | SEK 19.9m | SEK 7.4m | SEK 6.1m | SEK 48.5m |
| Operating income | −SEK 29.1m | −SEK 22.4m | −SEK 32.6m | −SEK 25.7m | −SEK 19.4m | −SEK 23.9m | −SEK 28.4m | −SEK 19.2m |
| Net income | −SEK 27.1m | −SEK 80.5m | −SEK 296.7m | −SEK 25.4m | −SEK 21.2m | −SEK 23.4m | −SEK 27.5m | SEK 19.8m |
| Diluted earnings per share | -0.02 | -0.07 | -0.27 | -0.02 | -0.02 | -0.02 | -0.03 | 0.02 |
| Cash from operations | −SEK 17.0m | −SEK 26.0m | −SEK 26.0m | −SEK 26.0m | −SEK 11.0m | −SEK 8.0m | −SEK 7.0m | −SEK 9.0m |
| Capital spending | −SEK 3.0m | — | — | — | −SEK 31.0m | −SEK 27.0m | −SEK 27.0m | −SEK 23.0m |
| Free cash flow | −SEK 20.0m | — | — | — | −SEK 42.0m | −SEK 35.0m | −SEK 34.0m | −SEK 32.0m |
| Total assets | SEK 152.7m | SEK 174.1m | SEK 281.0m | SEK 578.9m | SEK 628.5m | SEK 418.7m | SEK 444.9m | SEK 468.7m |
| Cash and short-term investments | SEK 13.0m | SEK 35.0m | SEK 73.5m | SEK 133.8m | SEK 203.3m | SEK 31.2m | SEK 75.3m | SEK 123.1m |
| Debt | — | — | SEK 3.6m | SEK 3.8m | SEK 4.0m | SEK 4.2m | SEK 4.4m | SEK 4.6m |
| Shareholders' equity | SEK 117.8m | SEK 145.3m | SEK 225.8m | SEK 522.4m | SEK 548.1m | SEK 364.0m | SEK 387.4m | SEK 414.9m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 58.1% | 83.7% | 67.6% |
| Operating income | 6.7% | 15.5% | 14.7% |
| Net income | 63.8% | 48.7% | 29.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -25.7% | -102.3% | -143.9% | -216.1% |
| Net margin | -154.7% | -218.0% | -255.7% | -329.3% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -1.3 | 8.9 | -5.2 | -4.2 | -6.8 | -9.0 | -0.9 | -0.5 | -2.4 | -0.3 |
| Price to sales | 15.1 | 2.8 | 34.6 | 44.3 | 51.7 | 302.0 | 37.0 | 15.6 | 120.8 | 59.6 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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