S 
16.38
+1.11%
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 304.1m
FY2016FY2025
Net income
−SEK 186.5m
FY2016FY2025
Free cash flow
−SEK 124.4m
FY2016FY2025
Shareholders' equity
SEK 949.8m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 304.1m | SEK 243.8m | SEK 236.3m | SEK 132.6m | SEK 90.7m | SEK 96.2m | SEK 96.4m | SEK 69.8m | SEK 65.5m | SEK 18.2m |
| Research and development | SEK 21.3m | SEK 68.7m | SEK 75.7m | SEK 86.6m | SEK 20.1m | SEK 19.5m | SEK 45.9m | SEK 33.0m | SEK 8.1m | — |
| Operating income | −SEK 130.9m | −SEK 110.0m | −SEK 157.6m | −SEK 185.1m | −SEK 140.9m | −SEK 85.7m | −SEK 80.4m | −SEK 76.4m | −SEK 50.9m | −SEK 25.9m |
| Net income | −SEK 186.5m | −SEK 116.3m | −SEK 157.4m | −SEK 86.4m | −SEK 133.7m | −SEK 195.8m | −SEK 75.7m | −SEK 103.0m | −SEK 45.6m | −SEK 25.9m |
| Diluted earnings per share | -0.64 | -0.53 | -0.68 | -0.41 | -0.70 | -1.38 | -0.59 | -0.91 | -0.49 | -0.60 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SEK 1.33bn | SEK 1.57bn | SEK 1.51bn | SEK 1.57bn | SEK 951.4m | SEK 647.2m | SEK 424.3m | SEK 342.4m | SEK 348.2m | SEK 67.2m |
| Cash and short-term investments | SEK 43.5m | SEK 17.8m | SEK 25.5m | SEK 55.7m | SEK 456.2m | SEK 249.4m | SEK 52.2m | SEK 42.4m | SEK 61.9m | SEK 18.9m |
| Total liabilities | SEK 381.2m | SEK 392.0m | SEK 308.2m | SEK 331.0m | SEK 152.5m | SEK 115.3m | SEK 135.7m | SEK 97.2m | SEK 151.2m | SEK 11.1m |
| Debt | SEK 122.2m | SEK 167.5m | SEK 47.0m | SEK 83.9m | SEK 48.3m | SEK 48.2m | SEK 78.6m | SEK 37.7m | SEK 32.9m | — |
| Shareholders' equity | SEK 949.8m | SEK 1.18bn | SEK 1.20bn | SEK 1.24bn | SEK 798.9m | SEK 531.9m | SEK 288.5m | SEK 245.2m | SEK 196.9m | SEK 56.0m |
| Shares outstanding | 292m | 220m | 232m | 213m | 191m | 142m | 128m | 113m | 93m | 43m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −SEK 57.2m | −SEK 72.0m | −SEK 105.9m | −SEK 137.5m | −SEK 83.0m | −SEK 40.1m | −SEK 42.4m | −SEK 20.2m | −SEK 30.4m | −SEK 23.5m |
| Capital spending | −SEK 67.2m | −SEK 8.6m | −SEK 53.8m | −SEK 85.0m | −SEK 92.3m | −SEK 39.5m | −SEK 52.1m | −SEK 64.6m | −SEK 24.6m | −SEK 18.3m |
| Free cash flow | −SEK 124.4m | −SEK 80.6m | −SEK 159.7m | −SEK 222.5m | −SEK 175.2m | −SEK 79.6m | −SEK 94.5m | −SEK 84.8m | −SEK 55.1m | −SEK 41.8m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 53.8m | SEK 61.9m | SEK 80.7m | SEK 72.5m | SEK 72.4m | SEK 78.5m | SEK 76.7m | SEK 58.7m |
| Operating income | −SEK 117.9m | −SEK 41.8m | −SEK 44.7m | −SEK 37.8m | −SEK 29.0m | −SEK 26.7m | −SEK 10.6m | −SEK 40.4m |
| Net income | −SEK 115.0m | −SEK 42.7m | −SEK 52.6m | −SEK 46.9m | −SEK 38.7m | −SEK 48.3m | SEK 4.4m | −SEK 51.4m |
| Diluted earnings per share | -0.38 | -0.14 | -0.18 | -0.16 | -0.13 | -0.17 | 0.02 | -0.23 |
| Cash from operations | −SEK 75.0m | −SEK 54.0m | −SEK 17.0m | SEK 12.0m | −SEK 29.0m | −SEK 22.0m | SEK 14.0m | −SEK 28.0m |
| Capital spending | — | — | −SEK 25.0m | — | −SEK 12.0m | −SEK 12.0m | −SEK 14.0m | −SEK 10.0m |
| Free cash flow | — | — | −SEK 42.0m | — | −SEK 41.0m | −SEK 34.0m | SEK 0 | −SEK 38.0m |
| Total assets | SEK 1.42bn | SEK 1.34bn | SEK 1.45bn | SEK 1.49bn | SEK 1.46bn | SEK 1.54bn | SEK 1.57bn | SEK 1.48bn |
| Cash and short-term investments | SEK 62.7m | SEK 26.6m | SEK 43.5m | SEK 87.6m | SEK 25.5m | SEK 73.5m | SEK 17.8m | SEK 14.0m |
| Debt | SEK 36.8m | SEK 164.8m | SEK 122.2m | SEK 119.3m | SEK 125.9m | SEK 152.9m | SEK 167.5m | SEK 74.9m |
| Shareholders' equity | SEK 949.0m | SEK 929.6m | SEK 1.08bn | SEK 1.14bn | SEK 1.10bn | SEK 1.17bn | SEK 1.18bn | SEK 1.11bn |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 31.9% | 25.9% | 30.6% |
| Operating income | -10.9% | 8.8% | 24.3% |
| Net income | 29.2% | -1.0% | 28.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -44.0% | -63.7% | -73.4% | -77.0% |
| Net margin | -55.3% | -59.6% | -79.4% | -83.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -6.5 | -6.0 | -5.4 | -8.5 | -15.8 | -12.7 | -7.6 | -4.1 | -6.8 | -4.7 |
| Price to sales | 4.0 | 2.9 | 3.6 | 5.5 | 23.2 | 25.9 | 6.0 | 6.1 | 4.8 | 6.7 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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