S 
126.50
-0.86%
Close of 9 Nov 2026, in SEK
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At a glance
Figures in SEK, from our data supplier.
Revenue
SEK 4.02bn
FY2016FY2025
Net income
SEK 483.0m
FY2016FY2025
Free cash flow
SEK 411.0m
FY2016FY2025
Shareholders' equity
SEK 1.79bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 4.02bn | SEK 3.80bn | SEK 3.49bn | SEK 3.20bn | SEK 2.62bn | SEK 2.34bn | SEK 1.84bn | SEK 1.46bn | SEK 1.17bn | SEK 743.9m |
| Gross profit | SEK 1.83bn | SEK 1.70bn | SEK 1.25bn | SEK 1.21bn | SEK 1.01bn | SEK 1.13bn | SEK 698.8m | SEK 569.4m | SEK 477.2m | SEK 306.5m |
| Research and development | SEK 221.1m | SEK 255.0m | SEK 303.0m | SEK 322.7m | SEK 206.9m | SEK 104.7m | SEK 15.1m | SEK 12.5m | — | — |
| Operating income | SEK 392.4m | SEK 246.3m | −SEK 752.6m | −SEK 402.4m | −SEK 358.1m | −SEK 181.4m | −SEK 367.3m | −SEK 251.0m | −SEK 79.8m | SEK 25.5m |
| Net income | SEK 483.0m | SEK 196.7m | −SEK 819.2m | −SEK 380.3m | −SEK 373.1m | −SEK 183.5m | −SEK 312.7m | −SEK 212.2m | −SEK 72.1m | SEK 23.5m |
| Diluted earnings per share | 7.45 | 2.54 | -10.63 | -5.21 | -4.63 | -2.94 | -5.60 | -3.80 | -1.40 | 0.51 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SEK 3.57bn | SEK 3.39bn | SEK 3.14bn | SEK 4.39bn | SEK 3.01bn | SEK 1.90bn | SEK 1.31bn | SEK 1.37bn | SEK 949.4m | SEK 724.3m |
| Cash and short-term investments | SEK 686.4m | SEK 623.0m | SEK 436.1m | SEK 776.3m | SEK 905.9m | SEK 406.2m | SEK 345.9m | SEK 582.6m | SEK 251.0m | SEK 129.6m |
| Total liabilities | SEK 1.67bn | SEK 1.84bn | SEK 1.87bn | SEK 2.20bn | SEK 1.10bn | SEK 723.3m | SEK 963.7m | SEK 743.7m | SEK 605.8m | SEK 551.8m |
| Debt | SEK 679.0m | SEK 722.3m | SEK 840.6m | SEK 1.22bn | SEK 131.7m | SEK 107.5m | SEK 399.9m | SEK 230.7m | SEK 173.8m | SEK 192.5m |
| Shareholders' equity | SEK 1.79bn | SEK 1.48bn | SEK 1.21bn | SEK 2.12bn | SEK 1.84bn | SEK 1.18bn | SEK 342.2m | SEK 624.1m | SEK 343.6m | SEK 172.5m |
| Shares outstanding | 65m | 77m | 77m | 73m | 81m | 63m | 56m | 56m | 52m | 46m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | SEK 572.6m | SEK 547.4m | SEK 248.5m | −SEK 100.4m | −SEK 218.7m | −SEK 82.8m | −SEK 338.6m | −SEK 187.1m | SEK 12.0m | SEK 41.8m |
| Capital spending | −SEK 161.6m | −SEK 227.9m | −SEK 188.1m | −SEK 256.5m | −SEK 327.6m | −SEK 268.3m | −SEK 18.8m | −SEK 12.8m | −SEK 7.8m | −SEK 6.7m |
| Free cash flow | SEK 411.0m | SEK 319.5m | SEK 60.4m | −SEK 357.0m | −SEK 546.3m | −SEK 351.2m | −SEK 357.4m | −SEK 199.8m | SEK 4.2m | SEK 35.1m |
| Dividends paid | −SEK 98.3m | −SEK 7.5m | — | — | — | — | — | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 1.07bn | SEK 979.1m | SEK 1.10bn | SEK 1.01bn | SEK 958.2m | SEK 952.9m | SEK 1.03bn | SEK 954.0m |
| Gross profit | SEK 495.2m | SEK 442.1m | SEK 515.9m | SEK 459.6m | SEK 434.0m | SEK 423.1m | SEK 476.9m | SEK 433.9m |
| Operating income | SEK 117.2m | SEK 84.2m | SEK 133.9m | SEK 151.2m | SEK 81.9m | SEK 54.8m | SEK 135.9m | SEK 87.3m |
| Net income | SEK 91.8m | SEK 82.0m | SEK 293.9m | SEK 131.3m | SEK 42.4m | SEK 15.4m | SEK 140.9m | SEK 51.4m |
| Diluted earnings per share | 1.18 | 1.05 | 4.53 | 2.02 | 0.65 | 0.24 | 1.82 | 0.66 |
| Cash from operations | SEK 149.0m | SEK 135.0m | SEK 230.0m | SEK 157.0m | SEK 155.0m | SEK 28.0m | SEK 271.0m | SEK 192.0m |
| Capital spending | −SEK 62.0m | −SEK 46.0m | −SEK 52.0m | −SEK 37.0m | −SEK 41.0m | −SEK 30.0m | −SEK 38.0m | −SEK 32.0m |
| Free cash flow | SEK 87.0m | SEK 89.0m | SEK 178.0m | SEK 120.0m | SEK 114.0m | −SEK 2.0m | SEK 233.0m | SEK 160.0m |
| Total assets | SEK 3.71bn | SEK 3.60bn | SEK 3.57bn | SEK 3.20bn | SEK 3.16bn | SEK 3.25bn | SEK 3.39bn | SEK 3.03bn |
| Cash and short-term investments | SEK 536.3m | SEK 719.9m | SEK 686.4m | SEK 526.8m | SEK 485.2m | SEK 533.6m | SEK 623.0m | SEK 448.2m |
| Debt | SEK 593.3m | SEK 538.8m | SEK 90.5m | SEK 550.0m | SEK 600.0m | — | SEK 722.3m | SEK 650.0m |
| Shareholders' equity | SEK 1.92bn | SEK 1.92bn | SEK 1.79bn | SEK 1.48bn | SEK 1.36bn | SEK 1.41bn | SEK 1.48bn | SEK 1.26bn |
Financial ratios
Data as of 13 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 45.6% | 44.8% | 35.7% | 37.9% | 38.7% | 48.4% |
| Operating margin | 9.7% | 7.5% | -21.7% | -11.1% | -13.3% | -7.8% |
| Net margin | 12.0% | 5.2% | -23.5% | -11.9% | -14.2% | -7.8% |
| Return on equity | 27.0% | 13.3% | -67.8% | -17.9% | -20.3% | -15.6% |
| Return on assets | 13.5% | 5.8% | -26.1% | -8.7% | -12.4% | -9.7% |
| Free cash flow yield | 9.7% | 8.6% | 4.9% | 1.8% | 1.2% | 2.5% |
| Revenue growth | 5.9% | 8.8% | 9.0% | 22.1% | 12.1% | 26.9% |
| Earnings growth | 145.6% | -124.0% | 115.4% | 1.9% | 103.3% | -41.3% |
| Current ratio | 0.89x | 1.23x | 0.63x | 1.13x | 2.07x | 1.64x |
| Debt to equity | 0.33x | 0.47x | 0.65x | 0.53x | 0.02x | 0.00x |
| Equity ratio | 50.1% | 43.6% | 38.5% | 48.4% | 61.0% | 61.9% |
| Interest coverage | 4.62x | 5.71x | -11.49x | -8.76x | -38.23x | -10.77x |
| R&D as a share of sales | 5.5% | 6.7% | 8.7% | 10.1% | 7.9% | 4.5% |
| Buybacks as a share of market value | 16.2% | -0.5% | -5.6% | 9.3% | -28.8% | -11.9% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 7.9% | 11.5% | 29.7% |
| Operating income | — | — | 61.0% |
| Net income | — | — | 49.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 45.2% | 41.3% | 41.8% | 41.2% |
| Operating margin | 8.2% | -3.6% | -5.4% | -6.9% |
| Net margin | 8.7% | -3.6% | -5.5% | -6.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 11.3 | 27.1 | -3.8 | -8.5 | -35.6 | -92.0 | -25.6 | -23.8 | -48.2 | 87.5 |
| Price to sales | 1.4 | 1.4 | 0.9 | 1.0 | 5.1 | 7.2 | 4.3 | 3.5 | 3.0 | 2.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 1 years. Last went ex-dividend on 6 May 2026.
| FY2026 | FY2025 | |
|---|---|---|
| Paid in the year | 1.50 | 1.00 |
- 10-to-1 reverse split · 25 Aug 2015
- 25-to-1 reverse split · 3 May 2013
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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