S
0.11
-4.29%
Close of 9 Nov 2026, in SEK
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At a glance
Figures in SEK, from our data supplier.
Revenue
SEK 1.6m
FY2016FY2025
Net income
−SEK 26.8m
FY2016FY2025
Free cash flow
−SEK 32.1m
FY2016FY2025
Shareholders' equity
−SEK 470,000
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 1.6m | SEK 2.9m | SEK 4.4m | SEK 4.1m | SEK 6.1m | SEK 2.2m | SEK 1.7m | SEK 761,813 | SEK 851,631 | SEK 726,225 |
| Research and development | — | — | — | — | SEK 90,000 | — | SEK 98,000 | SEK 433,000 | SEK 432,491 | — |
| Operating income | −SEK 31.3m | −SEK 34.7m | −SEK 36.6m | −SEK 24.7m | −SEK 28.9m | −SEK 23.7m | −SEK 24.6m | −SEK 22.7m | −SEK 22.6m | −SEK 18.8m |
| Net income | −SEK 26.8m | −SEK 34.6m | −SEK 37.3m | −SEK 24.4m | −SEK 28.4m | −SEK 25.6m | −SEK 26.9m | −SEK 24.0m | −SEK 23.0m | −SEK 19.3m |
| Diluted earnings per share | -0.03 | -0.10 | -0.11 | -0.13 | -0.25 | -0.52 | -1.37 | -1.70 | -1.65 | -1.39 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SEK 148.4m | SEK 157.1m | SEK 174.6m | SEK 185.7m | SEK 29.2m | SEK 57.1m | SEK 52.2m | SEK 49.8m | SEK 54.4m | SEK 76.4m |
| Cash and short-term investments | SEK 1.5m | SEK 1.9m | SEK 5.7m | SEK 4.0m | SEK 961,000 | SEK 16.5m | SEK 7.9m | SEK 4.4m | SEK 7.4m | SEK 32.1m |
| Total liabilities | SEK 148.9m | SEK 151.4m | SEK 148.9m | SEK 162.7m | SEK 11.0m | SEK 9.6m | SEK 17.2m | SEK 10.1m | SEK 11.7m | SEK 11.0m |
| Debt | SEK 87.7m | SEK 2.0m | SEK 2.7m | SEK 2.1m | SEK 3.1m | SEK 4.0m | SEK 4.7m | SEK 5.7m | SEK 6.7m | SEK 7.2m |
| Shareholders' equity | −SEK 470,000 | SEK 5.6m | SEK 25.6m | SEK 23.0m | SEK 18.2m | SEK 47.4m | SEK 35.0m | SEK 39.8m | SEK 42.7m | SEK 65.3m |
| Shares outstanding | 842m | 348m | 339m | 188m | 114m | 49m | 20m | 14m | 14m | 14m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −SEK 16.0m | −SEK 18.0m | −SEK 36.4m | −SEK 18.2m | −SEK 18.1m | −SEK 19.5m | −SEK 17.3m | −SEK 22.3m | −SEK 23.6m | −SEK 18.6m |
| Capital spending | −SEK 16.0m | −SEK 613,000 | −SEK 1.6m | −SEK 22.4m | −SEK 253,000 | −SEK 286,000 | −SEK 356,000 | −SEK 169,882 | −SEK 301,088 | −SEK 15.6m |
| Free cash flow | −SEK 32.1m | −SEK 18.6m | −SEK 38.0m | −SEK 40.6m | −SEK 18.4m | −SEK 19.8m | −SEK 17.7m | −SEK 22.4m | −SEK 23.9m | −SEK 34.2m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 196,000 | SEK 424,000 | SEK 285,000 | SEK 484,000 | SEK 687,000 | SEK 159,000 | SEK 971,000 | SEK 766,000 |
| Operating income | −SEK 6.9m | −SEK 6.4m | −SEK 8.7m | −SEK 7.2m | −SEK 6.7m | −SEK 7.3m | −SEK 9.2m | −SEK 6.6m |
| Net income | −SEK 5.9m | −SEK 6.2m | −SEK 7.2m | −SEK 6.3m | −SEK 7.3m | −SEK 6.0m | −SEK 9.6m | −SEK 6.4m |
| Diluted earnings per share | -0.00 | -0.00 | -0.01 | -0.01 | -0.01 | -0.01 | -0.03 | -0.02 |
| Cash from operations | −SEK 2.0m | −SEK 3.0m | −SEK 4.0m | −SEK 4.0m | −SEK 1.0m | −SEK 5.0m | −SEK 1.0m | −SEK 4.0m |
| Capital spending | −SEK 2.0m | −SEK 3.0m | −SEK 4.0m | — | — | — | — | — |
| Free cash flow | −SEK 4.0m | −SEK 6.0m | −SEK 8.0m | — | — | — | — | — |
| Total assets | SEK 137.7m | SEK 142.5m | SEK 148.4m | SEK 142.9m | SEK 144.8m | SEK 146.7m | SEK 157.1m | SEK 161.5m |
| Cash and short-term investments | SEK 8.0m | SEK 10.8m | SEK 1.5m | SEK 3.8m | SEK 1.0m | SEK 3.0m | SEK 1.9m | SEK 2.0m |
| Debt | — | — | SEK 1.3m | — | — | — | SEK 2.0m | — |
| Shareholders' equity | SEK 767,000 | SEK 5.5m | −SEK 470,000 | −SEK 14.3m | −SEK 7.7m | −SEK 1.1m | SEK 5.6m | SEK 941,000 |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -26.6% | -5.7% | 19.0% |
| Operating income | 8.3% | 5.8% | 10.5% |
| Net income | 3.2% | 0.9% | 8.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -1466.3% | -984.2% | -847.2% | -1094.2% |
| Net margin | -1363.3% | -951.7% | -833.7% | -1101.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -1.3 | -0.4 | -1.0 | -0.9 | -1.0 | -0.6 | -0.5 | -0.6 | -1.3 | -2.7 |
| Price to sales | 22.3 | 4.6 | 8.8 | 5.6 | 4.6 | 7.4 | 8.1 | 20.1 | 36.0 | 71.5 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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