T 
98.20
+0.41%
Close of 9 Nov 2026, in DKK
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in EUR, from our data supplier.
Revenue
€220.5m
FY2016FY2025
Net income
€10.3m
FY2016FY2025
Free cash flow
€27.5m
FY2016FY2025
Shareholders' equity
€145.1m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | €220.5m | €205.9m | €184.9m | €158.5m | €130.5m | €106.4m | €86.5m | €65.6m | €63.1m |
| Research and development | €3.3m | — | €2.1m | €3.2m | €3.5m | €2.7m | €2.3m | €1.3m | €1.1m |
| Operating income | €11.9m | €7.9m | €23.6m | €37.0m | €25.9m | €9.7m | €6.8m | €4.0m | €5.1m |
| Net income | €10.3m | €16.6m | €15.2m | €29.3m | €43.2m | €15.2m | €13.7m | €13.5m | €3.4m |
| Diluted earnings per share | 0.52 | 0.85 | 0.77 | 1.49 | 2.19 | 0.83 | 0.75 | 0.79 | 0.18 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|
| Total assets | €323.2m | €334.3m | €249.3m | €245.7m | €229.1m | €122.1m | €96.3m | €75.7m | €66.3m |
| Cash and short-term investments | €40.4m | €34.8m | €30.7m | €45.0m | €74.4m | €6.5m | €9.7m | €5.6m | €5.5m |
| Total liabilities | €177.3m | €199.5m | €133.9m | €134.9m | €145.9m | €64.7m | €51.9m | €42.5m | €40.0m |
| Debt | €141.4m | €149.6m | €100.9m | €48.0m | €73.0m | €11.6m | €915,000 | €2.0m | €1.3m |
| Shareholders' equity | €145.1m | €133.8m | €114.6m | €109.8m | €80.5m | €55.8m | €42.4m | €31.6m | €23.4m |
| Shares outstanding | 20m | 20m | 20m | 20m | 20m | 18m | 18m | 17m | 20m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €29.1m | €18.3m | €22.1m | €7.8m | €17.8m | €10.5m | €6.6m | €8.9m | €4.0m |
| Capital spending | −€1.6m | −€7.0m | −€6.0m | −€5.7m | −€3.4m | −€3.0m | −€3.4m | −€2.2m | −€1.8m |
| Free cash flow | €27.5m | €11.4m | €16.1m | €2.1m | €14.4m | €7.5m | €3.2m | €6.8m | €2.2m |
| Dividends paid | −€1.7m | −€2.0m | −€7.6m | −€13.0m | −€1.9m | −€2.7m | −€3.0m | −€1.3m | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €58.3m | €56.1m | €58.9m | €49.3m | €55.1m | €57.5m | €56.0m | €47.1m |
| Operating income | €3.0m | €4.4m | €6.1m | €2.9m | €1.4m | €6.3m | €6.5m | €2.5m |
| Net income | €178,000 | €3.0m | €8.5m | €1.2m | −€118,000 | €649,000 | €12.3m | €1.3m |
| Diluted earnings per share | 0.01 | 0.15 | 0.43 | 0.06 | -0.01 | 0.03 | 0.63 | 0.07 |
| Cash from operations | €2.0m | €5.0m | €14.0m | €7.0m | €1.0m | €7.0m | €7.0m | €4.0m |
| Capital spending | −€3.0m | −€3.0m | — | — | −€1.0m | — | — | −€1.0m |
| Free cash flow | −€1.0m | €2.0m | — | — | €0 | — | — | €3.0m |
| Total assets | €317.6m | €311.6m | €323.2m | €312.2m | €323.1m | €323.3m | €334.3m | €316.8m |
| Cash and short-term investments | €26.8m | €32.9m | €40.4m | €29.7m | €29.0m | €32.6m | €34.8m | €28.2m |
| Debt | €70.2m | €61.1m | €71.8m | €66.3m | €69.9m | — | €108.1m | — |
| Shareholders' equity | €144.2m | €146.6m | €145.1m | €135.0m | €133.1m | €133.8m | €133.8m | €118.8m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 6.0% | 11.1% | 14.1% |
| Operating income | -20.4% | -14.4% | 5.4% |
| Net income | -12.2% | -25.0% | 5.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 4.6% | 7.3% | 11.8% | 10.9% |
| Net margin | 6.3% | 6.9% | 12.6% | 12.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | 23.2 | 11.8 | 140.7 | 25.0 | 27.3 |
| Price to sales | 1.1 | 0.9 | 9.9 | 2.0 | 5.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 22 Apr 2024.
| FY2024 | FY2023 | FY2022 | |
|---|---|---|---|
| Paid in the year | 0.10 | 0.14 | 2.82 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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