T 
1.57
-1.88%
Close of 9 Nov 2026, in NOK
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in NOK, from our data supplier.
Revenue
NOK 1.00bn
FY2016FY2025
Net income
−NOK 94.0m
FY2016FY2025
Free cash flow
−NOK 33.7m
FY2016FY2025
Shareholders' equity
NOK 494.6m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | NOK 1.00bn | NOK 1.07bn | NOK 1.09bn | NOK 1.32bn | NOK 1.31bn | NOK 1.14bn | NOK 1.13bn | NOK 1.06bn | NOK 789.5m | NOK 573.5m |
| Operating income | −NOK 89.8m | −NOK 34.9m | −NOK 44.9m | −NOK 80.2m | −NOK 92.3m | −NOK 18.2m | −NOK 8.7m | NOK 22.4m | −NOK 23.1m | −NOK 24.3m |
| Net income | −NOK 94.0m | −NOK 45.7m | −NOK 44.5m | −NOK 68.6m | −NOK 102.7m | −NOK 23.6m | −NOK 64.3m | NOK 20.7m | −NOK 47.8m | −NOK 40.5m |
| Diluted earnings per share | -2.93 | -1.43 | -1.41 | -2.59 | -5.06 | -1.42 | -3.87 | 1.24 | -2.87 | -2.43 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | NOK 1.12bn | NOK 1.18bn | NOK 1.27bn | NOK 1.32bn | NOK 1.31bn | NOK 1.20bn | NOK 817.2m | NOK 788.0m | NOK 765.5m | NOK 508.4m |
| Cash and short-term investments | NOK 9.3m | NOK 30.8m | NOK 77.5m | NOK 55.9m | NOK 44.2m | NOK 20.8m | NOK 44.6m | NOK 54.0m | NOK 30.0m | NOK 81.7m |
| Total liabilities | NOK 624.1m | NOK 606.8m | NOK 697.1m | NOK 751.8m | NOK 759.1m | NOK 635.7m | NOK 361.2m | NOK 274.2m | NOK 315.4m | NOK 248.1m |
| Debt | NOK 21.2m | NOK 130.1m | NOK 205.4m | NOK 205.9m | NOK 204.8m | NOK 234.5m | NOK 84.8m | NOK 73.3m | NOK 91.2m | NOK 126.4m |
| Shareholders' equity | NOK 494.6m | NOK 570.6m | NOK 573.7m | NOK 571.5m | NOK 554.3m | NOK 562.6m | NOK 456.3m | NOK 513.8m | NOK 449.7m | NOK 235.1m |
| Shares outstanding | 32m | 32m | 32m | 27m | 20m | 17m | 17m | 17m | 17m | 17m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | NOK 115.8m | NOK 136.5m | NOK 155.6m | NOK 123.7m | NOK 128.9m | NOK 71.1m | NOK 51.1m | NOK 23.4m | −NOK 34.7m | −NOK 30.9m |
| Capital spending | −NOK 149.6m | −NOK 157.6m | −NOK 146.7m | −NOK 184.7m | −NOK 190.3m | −NOK 130.0m | −NOK 33.6m | −NOK 11.7m | −NOK 2.9m | −NOK 410,000 |
| Free cash flow | −NOK 33.7m | −NOK 21.1m | NOK 8.9m | −NOK 61.0m | −NOK 61.3m | −NOK 58.9m | NOK 17.5m | NOK 11.7m | −NOK 37.6m | −NOK 31.3m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | NOK 228.8m | NOK 219.4m | NOK 282.6m | NOK 222.4m | NOK 247.2m | NOK 248.7m | NOK 312.5m | NOK 237.6m |
| Operating income | −NOK 23.3m | −NOK 21.7m | −NOK 56.4m | −NOK 6.4m | −NOK 12.6m | −NOK 14.4m | NOK 268,000 | −NOK 3.5m |
| Net income | −NOK 30.5m | −NOK 29.1m | −NOK 53.8m | −NOK 8.5m | −NOK 15.2m | −NOK 16.4m | −NOK 12.1m | −NOK 6.1m |
| Diluted earnings per share | -0.95 | -0.91 | -1.68 | -0.27 | -0.47 | -0.51 | -0.38 | -0.19 |
| Cash from operations | −NOK 6.0m | — | NOK 115.0m | NOK 57.0m | NOK 55.0m | NOK 2.0m | NOK 136.0m | NOK 48.0m |
| Capital spending | −NOK 19.0m | −NOK 30.0m | −NOK 149.0m | −NOK 105.0m | −NOK 72.0m | −NOK 35.0m | −NOK 157.0m | −NOK 38.0m |
| Free cash flow | −NOK 25.0m | — | −NOK 34.0m | −NOK 48.0m | −NOK 17.0m | −NOK 33.0m | −NOK 21.0m | NOK 10.0m |
| Total assets | NOK 910.1m | NOK 882.4m | NOK 1.12bn | NOK 1.13bn | NOK 1.14bn | NOK 1.13bn | NOK 1.18bn | NOK 1.14bn |
| Cash and short-term investments | — | — | NOK 9.3m | NOK 13.1m | NOK 21.6m | NOK 11.8m | NOK 30.8m | NOK 12.5m |
| Debt | NOK 60.9m | NOK 20.4m | NOK 21.2m | NOK 24.4m | NOK 131.1m | NOK 110.8m | NOK 114.3m | NOK 163.1m |
| Shareholders' equity | NOK 412.0m | NOK 438.4m | NOK 494.6m | NOK 539.2m | NOK 548.3m | NOK 558.0m | NOK 570.6m | NOK 555.4m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -8.9% | -2.6% | 33.3% |
| Operating income | 3.8% | 37.6% | 33.1% |
| Net income | 11.1% | 31.9% | 8.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -6.0% | -5.6% | -5.2% | -3.8% |
| Net margin | -6.7% | -5.6% | -5.5% | -5.3% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -0.7 | -1.6 | -1.1 | -0.7 | -1.2 | -6.0 | -1.5 | 4.4 | -1.9 | -4.2 |
| Price to sales | 0.1 | 0.1 | 0.0 | 0.0 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 10-to-1 reverse split · 30 May 2023
- 10-to-1 reverse split · 11 Mar 2016
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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