S 
11.50
+11.11%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€48.2m
FY2016FY2025
Net income
−€14.2m
FY2016FY2025
Free cash flow
−€5.7m
FY2016FY2025
Shareholders' equity
−€64.7m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €48.2m | €75.8m | €72.5m | €87.8m | €68.7m | €29.5m | €77.9m | €125.9m | €90.0m | €67.6m |
| Gross profit | €14.0m | €25.5m | €16.2m | €25.2m | €18.1m | −€5.5m | €22.4m | €35.4m | €25.3m | €12.9m |
| Research and development | €6.0m | €4.8m | €6.9m | €7.1m | €8.1m | €10.1m | €6.5m | €8.2m | €4.7m | €8.8m |
| Operating income | −€12.5m | −€700,000 | −€10.2m | €5.9m | −€12.4m | −€36.9m | −€5.0m | €6.8m | −€3.0m | €23.5m |
| Net income | −€14.2m | −€5.4m | −€9.8m | −€100,000 | −€14.2m | −€36.2m | −€11.3m | €800,000 | −€3.2m | €19.0m |
| Diluted earnings per share | -1.60 | -0.61 | -1.10 | -0.01 | -1.60 | -4.07 | -1.27 | 0.09 | -0.36 | 2.14 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €56.0m | €58.5m | €71.8m | €77.8m | €83.3m | €58.5m | €83.7m | €104.0m | €87.9m | €96.2m |
| Cash and short-term investments | €7.5m | €11.3m | €11.5m | €18.7m | €15.0m | €9.8m | €14.8m | €13.5m | €27.2m | €18.5m |
| Total liabilities | €120.7m | €108.5m | €116.4m | €111.4m | €123.0m | €85.8m | €76.7m | €84.3m | €67.7m | €84.1m |
| Debt | €37.0m | €34.8m | €44.3m | €22.0m | €16.3m | €24.5m | €26.5m | €17.8m | €16.8m | €12.4m |
| Shareholders' equity | −€64.7m | −€50.0m | −€44.6m | −€33.6m | −€39.7m | −€27.3m | €7.0m | €19.7m | €19.5m | €11.3m |
| Shares outstanding | 9m | 9m | 9m | 9m | 9m | 9m | 9m | 9m | 9m | 9m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −€5.4m | €12.7m | −€26.3m | −€22.7m | €24.1m | €2.7m | −€3.2m | €2.5m | −€14.1m | €14.1m |
| Capital spending | −€300,000 | −€2.5m | −€2.0m | −€2.0m | −€900,000 | −€3.0m | −€5.6m | −€4.4m | −€2.2m | −€500,000 |
| Free cash flow | −€5.7m | €10.2m | −€28.3m | −€24.7m | €23.2m | −€300,000 | −€8.8m | −€1.9m | −€16.3m | €13.6m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €23.3m | €22.6m | €8.4m | €8.4m | €14.9m | €15.7m | €17.6m | €17.6m |
| Gross profit | €7.2m | €7.5m | €2.0m | €2.0m | €4.4m | €5.0m | €6.3m | €6.3m |
| Operating income | €500,000 | €1.4m | −€5.2m | −€5.2m | −€1.8m | −€650,000 | −€950,000 | −€950,000 |
| Net income | −€200,000 | €650,000 | −€6.0m | −€6.0m | −€1.8m | −€1.1m | −€2.6m | −€2.6m |
| Diluted earnings per share | -0.02 | 0.07 | -0.68 | -0.68 | -0.20 | -0.12 | -0.29 | -0.29 |
| Cash from operations | −€2.0m | −€2.0m | −€1.0m | −€1.0m | — | — | €10.0m | €10.0m |
| Total assets | €64.7m | — | €45.2m | €45.2m | €57.9m | — | €58.5m | €58.5m |
| Cash and short-term investments | €6.8m | €6.2m | €6.2m | €6.2m | €5.9m | €11.3m | €11.3m | €11.3m |
| Debt | €43.9m | — | €24.6m | €24.6m | €34.3m | — | €34.8m | €23.0m |
| Shareholders' equity | −€62.6m | −€64.7m | −€64.7m | −€64.7m | −€51.7m | −€50.0m | −€50.0m | −€50.0m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -18.1% | 10.3% | -5.2% |
| Operating income | — | -19.5% | -3.6% |
| Net income | 421.7% | -17.1% | -10.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 31.9% | 28.5% | 24.4% | 24.5% |
| Operating margin | -10.6% | -6.2% | -17.5% | -7.6% |
| Net margin | -15.8% | -10.4% | -20.9% | -14.3% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -0.8 | -1.8 | -1.5 | -159.1 | -2.5 | -1.1 | -4.1 | 101.7 | -41.4 | 2.0 |
| Price to sales | 0.3 | 0.1 | 0.2 | 0.2 | 0.5 | 1.3 | 0.6 | 0.7 | 1.5 | 0.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 160-to-1 reverse split · 6 Jun 2016
- 2-for-1 split · 5 Jun 2000
- 3-for-1 split · 1 Jul 1999
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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