W 
21.90
-0.23%
Close of 9 Nov 2026, in EUR
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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
€59.6m
FY2018FY2025
Net income
−€30.3m
FY2018FY2025
Free cash flow
−€114.6m
FY2018FY2025
Shareholders' equity
€110.3m
FY2018FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €59.6m | €55.7m | €33.3m | €19.2m | €12.3m | €9.5m | €8.3m | €3.3m |
| Research and development | — | €92,000 | €75,000 | €1.2m | — | — | €63,000 | €81,000 |
| Operating income | −€11.9m | −€13.7m | −€14.1m | −€8.3m | −€4.2m | −€1.0m | −€388,000 | −€472,000 |
| Net income | −€30.3m | −€17.6m | −€16.0m | −€10.1m | −€8.1m | −€2.2m | −€1.8m | −€939,000 |
| Diluted earnings per share | -1.03 | -0.72 | -0.78 | -0.49 | -0.41 | -0.11 | -0.10 | -0.09 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Total assets | €403.9m | €295.0m | €194.6m | €189.2m | €169.6m | €42.9m | €30.9m | €25.8m |
| Cash and short-term investments | €60.3m | €68.3m | €40.3m | €91.7m | €122.9m | €16.0m | €7.6m | €6.5m |
| Total liabilities | €273.2m | €160.9m | €96.7m | €77.1m | €52.0m | €34.8m | €22.7m | €25.4m |
| Debt | €222.1m | €115.1m | €60.8m | €49.6m | €37.8m | €28.6m | €17.1m | €15.4m |
| Shareholders' equity | €110.3m | €131.2m | €95.2m | €109.1m | €115.9m | €6.7m | €7.1m | −€567,000 |
| Shares outstanding | 29m | 25m | 20m | 20m | 20m | 19m | 19m | 11m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | €3.5m | −€9.8m | −€12.9m | −€7.4m | −€952,000 | €1.6m | −€179,000 | €1.4m |
| Capital spending | −€118.2m | −€61.5m | −€49.2m | −€40.9m | −€13.1m | −€4.8m | −€4.5m | −€9.4m |
| Free cash flow | −€114.6m | −€71.2m | −€62.1m | −€48.3m | −€14.0m | −€3.2m | −€4.7m | −€8.0m |
Latest quarters
By quarter end
| Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sept 2023 | Jun 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €32.2m | €27.4m | €30.1m | €25.6m | €12.8m | €19.6m | €9.8m | €13.7m |
| Operating income | −€5.1m | −€6.8m | −€6.0m | −€7.6m | −€3.8m | −€6.9m | −€3.6m | −€7.2m |
| Net income | −€18.7m | −€11.6m | −€8.5m | −€9.1m | −€4.6m | −€8.1m | −€4.1m | −€7.9m |
| Diluted earnings per share | -0.64 | -0.40 | -0.35 | -0.37 | -0.19 | -0.40 | -0.20 | -0.38 |
| Cash from operations | €8.0m | −€4.0m | −€2.0m | −€7.0m | −€3.0m | −€5.0m | −€2.0m | −€7.0m |
| Capital spending | −€58.0m | −€59.0m | −€36.0m | −€24.0m | −€12.0m | −€28.0m | −€14.0m | −€20.0m |
| Free cash flow | −€50.0m | −€63.0m | −€38.0m | −€31.0m | −€15.0m | −€33.0m | −€16.0m | −€27.0m |
| Total assets | €403.9m | €336.0m | €295.0m | €263.3m | €263.3m | €194.6m | €194.6m | €182.2m |
| Cash and short-term investments | €60.3m | €55.1m | €68.3m | €78.0m | €78.0m | €40.3m | €38.7m | €58.8m |
| Debt | €208.9m | €165.7m | €115.1m | €81.8m | €8.6m | €60.8m | €8.4m | €50.0m |
| Shareholders' equity | €110.3m | €114.4m | €131.2m | €137.9m | €137.9m | €95.2m | €95.2m | €102.5m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 43.4% | 42.8% | — |
| Operating income | 12.8% | 63.8% | — |
| Net income | 44.4% | 69.3% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -22.2% | -28.6% | -28.1% | — |
| Net margin | -41.5% | -44.1% | -44.5% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | -23.7 | -22.3 | -32.6 | -57.9 | -69.3 |
| Price to sales | 14.5 | 8.1 | 17.0 | 34.6 | 63.5 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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