X 
23.90
+2.36%
Close of 9 Nov 2026, in NOK
Search any instrument
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 1.92bn
FY2017FY2025
Net income
−NOK 32.3m
FY2017FY2025
Free cash flow
NOK 57.2m
FY2017FY2025
Shareholders' equity
NOK 347.8m
FY2017FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | NOK 1.92bn | NOK 813.3m | NOK 689.1m | NOK 502.0m | NOK 431.4m | NOK 200.4m | NOK 50.5m | NOK 7.5m | NOK 1.7m |
| Research and development | — | NOK 21.4m | — | NOK 11.3m | NOK 5.6m | NOK 5.9m | — | — | — |
| Operating income | NOK 102.4m | NOK 12.2m | −NOK 22.8m | −NOK 82.8m | −NOK 15.9m | −NOK 21.6m | −NOK 15.8m | −NOK 5.9m | −NOK 5.8m |
| Net income | −NOK 32.3m | −NOK 5.9m | −NOK 21.4m | −NOK 74.4m | −NOK 13.5m | −NOK 27.5m | −NOK 23.0m | −NOK 7.3m | −NOK 6.0m |
| Diluted earnings per share | -0.76 | -0.13 | -0.51 | -1.79 | -0.34 | -0.86 | -0.72 | -0.23 | -0.19 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Total assets | NOK 2.01bn | NOK 577.9m | NOK 546.8m | NOK 507.9m | NOK 576.7m | NOK 192.5m | NOK 56.9m | NOK 29.3m | NOK 10.7m |
| Cash and short-term investments | NOK 422.6m | NOK 235.1m | NOK 137.4m | NOK 43.6m | NOK 138.1m | NOK 117.7m | NOK 12.4m | NOK 458,925 | NOK 364,850 |
| Total liabilities | NOK 1.64bn | NOK 229.3m | NOK 209.1m | NOK 157.4m | NOK 175.6m | NOK 64.5m | NOK 50.2m | NOK 31.3m | NOK 11.9m |
| Debt | NOK 954.4m | NOK 89.6m | NOK 69.9m | NOK 38.3m | NOK 116.0m | NOK 42.4m | NOK 14.8m | NOK 23.6m | NOK 6.4m |
| Shareholders' equity | NOK 347.8m | NOK 348.6m | NOK 337.8m | NOK 350.6m | NOK 401.1m | NOK 128.0m | NOK 6.7m | −NOK 2.0m | −NOK 1.2m |
| Shares outstanding | 42m | 44m | 42m | 42m | 40m | 32m | 32m | 32m | 32m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | NOK 104.8m | NOK 98.0m | NOK 60.3m | −NOK 56.6m | −NOK 27.6m | −NOK 28.1m | −NOK 63.1m | −NOK 63.1m | — |
| Capital spending | −NOK 47.5m | −NOK 20.0m | −NOK 22.8m | −NOK 38.1m | −NOK 12.1m | −NOK 5.7m | −NOK 3.8m | −NOK 3.8m | — |
| Free cash flow | NOK 57.2m | NOK 78.0m | NOK 37.5m | −NOK 94.8m | −NOK 39.7m | −NOK 33.8m | −NOK 67.0m | −NOK 67.0m | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | NOK 422.0m | NOK 376.2m | NOK 606.0m | NOK 510.0m | NOK 462.9m | NOK 338.7m | NOK 242.9m | NOK 257.1m |
| Operating income | NOK 26.8m | NOK 53.7m | NOK 79.2m | NOK 54.0m | NOK 37.5m | −NOK 70.9m | NOK 7.7m | NOK 15.2m |
| Net income | NOK 5.1m | NOK 43.4m | NOK 47.6m | NOK 33.0m | −NOK 28.4m | −NOK 84.7m | −NOK 422,000 | NOK 13.5m |
| Diluted earnings per share | 0.11 | 0.91 | 1.12 | 0.78 | -0.67 | -2.00 | -0.01 | 0.31 |
| Cash from operations | NOK 28.0m | −NOK 15.0m | NOK 111.0m | −NOK 14.0m | — | −NOK 75.0m | NOK 39.0m | NOK 70.0m |
| Capital spending | −NOK 10.0m | −NOK 9.0m | −NOK 3.0m | −NOK 12.0m | −NOK 14.0m | −NOK 16.0m | −NOK 5.0m | −NOK 6.0m |
| Free cash flow | NOK 18.0m | −NOK 24.0m | NOK 108.0m | −NOK 26.0m | — | −NOK 91.0m | NOK 34.0m | NOK 64.0m |
| Total assets | — | NOK 2.06bn | NOK 2.01bn | NOK 2.04bn | NOK 2.07bn | NOK 1.94bn | NOK 577.9m | NOK 558.4m |
| Cash and short-term investments | — | — | — | NOK 426.1m | NOK 530.0m | NOK 544.8m | NOK 235.1m | NOK 176.7m |
| Debt | — | NOK 557.4m | NOK 662.9m | NOK 956.7m | NOK 1.04bn | NOK 982.4m | NOK 89.6m | NOK 65.6m |
| Shareholders' equity | — | NOK 476.4m | NOK 347.8m | NOK 286.6m | NOK 256.3m | NOK 276.1m | NOK 348.6m | NOK 345.8m |
Financial ratios
Data as of 27 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | 3.3% | 1.5% | -3.3% | -16.6% | -3.7% | -10.8% |
| Net margin | -1.7% | -0.7% | -3.1% | -14.8% | -3.1% | -13.7% |
| Return on equity | -9.3% | -1.7% | -6.3% | -21.2% | -3.4% | -21.5% |
| Return on assets | -1.6% | -1.0% | -3.9% | -14.6% | -2.3% | -14.3% |
| Free cash flow yield | 16.9% | 12.5% | 9.4% | -2.1% | -1.8% | -3.3% |
| Revenue growth | 135.8% | 18.0% | 37.3% | 16.4% | 115.2% | 297.2% |
| Earnings growth | 443.6% | -72.2% | -71.3% | 450.1% | -50.8% | 19.4% |
| Current ratio | 1.24x | 1.76x | 1.65x | 1.97x | 2.47x | 4.69x |
| Debt to equity | 1.91x | 0.26x | 0.11x | 0.11x | 0.07x | 0.20x |
| Equity ratio | 17.3% | 60.3% | 61.8% | 69.0% | 69.6% | 66.5% |
| Interest coverage | 1.20x | 1.09x | -1.66x | -37.74x | -26.46x | -7.29x |
| R&D as a share of sales | — | 2.6% | — | 2.3% | 1.3% | 2.9% |
| Buybacks as a share of market value | 4.1% | -6.0% | 0.0% | -4.7% | -24.7% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 56.3% | 57.1% | — |
| Net income | -24.3% | 3.3% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Price to earnings | -68.3 | -234.3 | -27.2 | -5.5 | -85.6 | -26.7 |
| Price to sales | 1.1 | 1.7 | 0.8 | 0.8 | 2.7 | 3.7 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
Nothing here is investment advice. Prices can be delayed or wrong, so check with the exchange before relying on them. Data for this page. How we cover markets.