Z
15.90
-3.64%
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
—
FY2016FY2025
Net income
−NOK 140.7m
FY2016FY2025
Free cash flow
−NOK 149.4m
FY2016FY2025
Shareholders' equity
NOK 85.9m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | NOK 53,000 | — | — | — | — | — | — | — | — |
| Research and development | NOK 58.2m | NOK 88.7m | NOK 123.8m | NOK 95.2m | NOK 96.7m | NOK 64.7m | NOK 35.5m | NOK 17.0m | NOK 12.8m | NOK 12.1m |
| Operating income | −NOK 143.8m | −NOK 109.6m | −NOK 215.7m | −NOK 183.6m | −NOK 163.8m | −NOK 124.1m | −NOK 66.2m | −NOK 56.5m | −NOK 33.4m | −NOK 33.0m |
| Net income | −NOK 140.7m | −NOK 105.2m | −NOK 189.2m | −NOK 167.8m | −NOK 164.7m | −NOK 120.6m | −NOK 61.2m | −NOK 55.3m | −NOK 32.8m | −NOK 29.0m |
| Diluted earnings per share | -6.88 | -30.57 | -9.25 | -8.20 | -8.05 | -39.83 | -26.67 | -30.72 | -18.24 | -16.10 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | NOK 103.5m | NOK 50.4m | NOK 349.0m | NOK 509.7m | NOK 655.5m | NOK 529.7m | NOK 478.0m | NOK 189.9m | NOK 178.8m | NOK 82.6m |
| Cash and short-term investments | NOK 83.5m | NOK 32.4m | NOK 269.6m | NOK 430.3m | — | NOK 447.9m | NOK 405.4m | NOK 120.8m | NOK 174.0m | NOK 77.5m |
| Total liabilities | NOK 17.6m | NOK 14.4m | NOK 69.6m | NOK 60.3m | NOK 62.4m | NOK 41.3m | NOK 33.4m | NOK 30.0m | NOK 12.3m | NOK 6.8m |
| Debt | — | — | NOK 1.9m | NOK 3.7m | — | NOK 3.8m | NOK 3.6m | — | — | — |
| Shareholders' equity | NOK 85.9m | NOK 36.0m | NOK 279.4m | NOK 449.4m | NOK 593.2m | NOK 488.4m | NOK 444.6m | NOK 159.9m | NOK 166.5m | NOK 75.8m |
| Shares outstanding | 20m | 3m | 20m | 20m | 20m | 3m | 2m | 2m | 2m | 2m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −NOK 149.0m | −NOK 100.0m | −NOK 189.8m | −NOK 167.7m | −NOK 125.8m | −NOK 108.2m | −NOK 63.0m | −NOK 50.4m | −NOK 27.2m | −NOK 31.1m |
| Capital spending | −NOK 359,000 | −NOK 10.4m | −NOK 25,000 | −NOK 195,000 | −NOK 85,000 | −NOK 5.3m | −NOK 172,000 | −NOK 513,000 | −NOK 21,000 | −NOK 788,000 |
| Free cash flow | −NOK 149.4m | −NOK 110.3m | −NOK 189.9m | −NOK 167.9m | −NOK 125.9m | −NOK 113.5m | −NOK 63.2m | −NOK 50.9m | −NOK 27.2m | −NOK 31.9m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | NOK 5,000 | — | — | — |
| Operating income | −NOK 19.9m | −NOK 20.3m | −NOK 42.8m | −NOK 39.7m | −NOK 38.4m | −NOK 29.3m | −NOK 23.8m | −NOK 24.0m |
| Net income | −NOK 19.7m | −NOK 20.4m | −NOK 42.0m | −NOK 39.3m | −NOK 37.5m | −NOK 28.3m | −NOK 23.5m | −NOK 22.8m |
| Diluted earnings per share | -0.96 | -1.00 | -2.05 | -1.92 | -1.84 | -1.39 | -6.83 | -6.63 |
| Cash from operations | −NOK 20.0m | −NOK 28.0m | −NOK 149.0m | −NOK 125.0m | −NOK 95.0m | −NOK 35.0m | −NOK 14.0m | −NOK 29.0m |
| Capital spending | — | — | — | −NOK 6.0m | — | — | — | — |
| Free cash flow | — | — | — | −NOK 131.0m | — | — | — | — |
| Total assets | NOK 113.7m | NOK 75.8m | NOK 103.5m | NOK 79.1m | NOK 116.9m | NOK 169.5m | NOK 113.5m | NOK 215.8m |
| Cash and short-term investments | — | — | NOK 83.5m | NOK 50.8m | NOK 86.7m | NOK 144.8m | — | — |
| Shareholders' equity | NOK 105.7m | NOK 67.0m | NOK 85.9m | NOK 63.0m | NOK 93.2m | NOK 127.0m | NOK 81.0m | NOK 191.0m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Operating income | -7.8% | 3.0% | 21.2% |
| Net income | -5.7% | 3.1% | 21.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Price to earnings | -2.0 | -0.8 | -58.8 | -59.4 | -62.0 | -8.9 | -6.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 10-to-1 reverse split · 1 Apr 2025
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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