V 
10.82
+5.87%
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 109.3m
FY2015FY2024
Net income
−SEK 168.6m
FY2015FY2024
Free cash flow
−SEK 164.9m
FY2015FY2024
Shareholders' equity
SEK 1.13bn
FY2015FY2024
Income statement
Fiscal years
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 109.3m | — | — | — | — | — | SEK 508,000 | SEK 932,000 | SEK 852,000 | SEK 840,000 |
| Gross profit | — | — | — | — | — | — | — | — | — | SEK 1.7m |
| Research and development | SEK 247.0m | SEK 276.3m | SEK 250.0m | SEK 271.8m | SEK 142.0m | SEK 67.0m | SEK 20.5m | SEK 17.6m | SEK 12.3m | — |
| Operating income | −SEK 190.4m | −SEK 259.0m | −SEK 290.7m | −SEK 294.8m | −SEK 149.5m | −SEK 94.0m | −SEK 41.6m | −SEK 28.2m | −SEK 20.1m | −SEK 4.5m |
| Net income | −SEK 168.6m | −SEK 310.9m | −SEK 288.4m | −SEK 296.5m | −SEK 146.9m | −SEK 93.1m | −SEK 21.7m | −SEK 24.2m | −SEK 24.5m | −SEK 4.6m |
| Diluted earnings per share | -1.23 | -3.13 | -3.89 | -4.14 | -2.71 | -2.16 | -0.95 | -1.25 | -1.55 | -0.32 |
Balance sheet
At each fiscal year end
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SEK 1.20bn | SEK 497.8m | SEK 338.0m | SEK 451.2m | SEK 406.5m | SEK 341.1m | SEK 301.6m | SEK 64.1m | SEK 37.6m | SEK 89.2m |
| Cash and short-term investments | SEK 1.16bn | SEK 482.7m | SEK 261.7m | SEK 371.5m | SEK 318.7m | SEK 264.6m | SEK 224.7m | SEK 24.0m | SEK 4.3m | SEK 25.2m |
| Total liabilities | SEK 73.8m | SEK 42.4m | SEK 48.9m | SEK 67.9m | SEK 52.0m | SEK 19.5m | SEK 16.2m | SEK 6.6m | SEK 6.1m | SEK 7.3m |
| Debt | — | — | SEK 65,000 | SEK 320,000 | SEK 140,000 | SEK 190,000 | — | — | — | — |
| Shareholders' equity | SEK 1.13bn | SEK 455.4m | SEK 289.1m | SEK 383.3m | SEK 354.5m | SEK 321.6m | SEK 285.4m | SEK 57.6m | SEK 31.6m | SEK 81.9m |
| Shares outstanding | 137m | 99m | 74m | 72m | 54m | 43m | 23m | 19m | 16m | 14m |
Cash flow
Fiscal years
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −SEK 164.9m | −SEK 249.6m | −SEK 299.9m | −SEK 265.2m | −SEK 119.9m | −SEK 87.0m | −SEK 33.0m | −SEK 27.9m | −SEK 20.7m | −SEK 3.7m |
| Capital spending | — | — | −SEK 3.0m | — | −SEK 3.0m | −SEK 147,000 | −SEK 2.0m | −SEK 33,000 | — | −SEK 5.7m |
| Free cash flow | −SEK 164.9m | −SEK 249.6m | −SEK 302.9m | −SEK 265.2m | −SEK 122.9m | −SEK 87.1m | −SEK 35.0m | −SEK 27.9m | −SEK 20.7m | −SEK 9.3m |
Latest quarters
By quarter end
| Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | Jun 2024 | Mar 2024 | Dec 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 760,000 | SEK 1.7m | SEK 892,000 | SEK 5.1m | — | — | SEK 104.2m | — |
| Operating income | −SEK 116.0m | −SEK 111.2m | −SEK 91.5m | −SEK 94.1m | −SEK 60.1m | −SEK 63.1m | SEK 23.2m | −SEK 70.1m |
| Net income | −SEK 113.5m | −SEK 115.4m | −SEK 111.5m | −SEK 84.1m | −SEK 59.9m | −SEK 56.3m | SEK 31.7m | −SEK 111.9m |
| Diluted earnings per share | -0.48 | -0.49 | -0.48 | -0.40 | -0.54 | -0.49 | 0.28 | -0.97 |
| Total assets | SEK 866.7m | SEK 976.5m | SEK 1.08bn | SEK 1.20bn | SEK 406.9m | SEK 478.7m | SEK 540.7m | SEK 497.8m |
| Cash and short-term investments | SEK 835.8m | SEK 937.0m | SEK 1.05bn | SEK 1.16bn | SEK 380.4m | SEK 466.4m | SEK 512.2m | SEK 482.8m |
| Shareholders' equity | SEK 798.7m | SEK 908.3m | SEK 1.02bn | SEK 1.13bn | SEK 377.7m | SEK 435.0m | SEK 488.8m | SEK 455.4m |
Financial ratios
Data as of 24 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin | 100.0% | 100.0% | — | — | — | — | — | -4182.7% | 383.8% | 243.3% | 197.1% | — |
| Operating margin | -12507.6% | -154.4% | — | — | — | — | — | -7530.3% | -2555.9% | -780.8% | -540.8% | — |
| Net margin | -12509.1% | -154.2% | — | — | — | — | — | -4267.9% | -1379.3% | -780.8% | -544.0% | — |
| Return on equity | -43.6% | -14.9% | -68.3% | -99.8% | -77.3% | -41.4% | — | — | — | — | — | — |
| Return on assets | -39.1% | -14.0% | -62.5% | -85.3% | -65.7% | -36.1% | — | — | — | — | — | — |
| Free cash flow yield | 0.0% | -4.9% | -4.8% | -42.4% | — | -22.1% | -21.5% | — | — | — | — | — |
| Revenue growth | -96.5% | — | — | — | — | — | — | -45.5% | 9.4% | 1.4% | -46.5% | -52.5% |
| Earnings growth | 183.1% | -45.8% | 7.8% | -2.7% | 101.9% | 57.8% | — | — | — | — | — | — |
| Current ratio | 10.31x | 16.50x | 12.10x | 5.81x | 5.75x | 6.82x | — | — | — | — | — | — |
| Debt to equity | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | — | — | — | — | — | — |
| Equity ratio | 89.8% | 93.9% | 91.5% | 85.5% | 85.0% | 87.2% | — | — | — | — | — | — |
| Interest coverage | -9.48x | -21110.25x | -896.34x | -36226.63x | -26674.55x | -24551.50x | — | — | — | — | — | — |
| R&D as a share of sales | 10226.6% | 228.0% | — | — | — | — | — | 4028.1% | 1883.6% | 1438.6% | 460.5% | — |
| Buybacks as a share of market value | -18.4% | -93.4% | -52.0% | 8.7% | -44.6% | -31.4% | — | — | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | — | — | 62.5% |
| Operating income | -13.6% | 15.2% | 42.8% |
| Net income | -17.1% | 12.6% | — |
Valuation history
At each fiscal year end
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -6.9 | -2.3 | -2.3 | -1.7 | -5.9 | -3.5 | -8.6 | -6.8 | -6.3 | -10.1 |
| Price to sales | 10.6 | — | — | — | — | — | 365.9 | 175.9 | 181.4 | 55.0 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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