Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Price to Earnings -7.42 -8.08 -19.09
Price to Sales
Book Value Per Common Share 10.36 9.60 6.97 4.85 7.45
Price to Book 2.68 2.43 7.86 4.36 3.46
Price to Operating Cash Flow -8.12 -8.44 -23.09 -9.26 -12.66
Price to Free Cash Flow -12.63
Enterprise Value to EBITDA
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-12-31 2023-03-31 2022-12-31 2022-09-30 2022-03-31 2021-12-31 2021-03-31 2020-12-31
Price to Earnings -47.96 -62.05 -44.98 -27.32 -28.07 -69.56 -37.01
Price to Sales
Book Value Per Common Share 11.95 12.84 13.60 10.36 10.61 12.24 9.60 6.52 6.97 7.36 4.18 4.85 7.08 7.45
Price to Book 3.97 4.16 2.98 2.68 2.71 2.06 2.43 5.87 7.86 4.62 3.39 4.36 4.10 3.46
Price to Operating Cash Flow -57.97 -90.38 -47.06 -28.29 -42.63 -72.92 -21.72 -54.98
Price to Free Cash Flow -57.97 -90.38 -28.29
Enterprise Value to EBITDA

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Earning YoY
Revenue YoY
EBITDA YoY
Net Profit YoY
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-12-31 2023-03-31 2022-12-31 2022-09-30 2022-03-31 2021-12-31 2021-03-31 2020-12-31
Earning YoY
Revenue YoY
EBITDA YoY
Net Profit YoY

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Cash Per Common Share 11.88 10.83 9.02 5.39 7.73
Quick Ratio
Current Ratio 19.38 29.27 18.61 7.70 20.70
Debt to Equity 0.10 0.08 0.09 0.16 0.06
Long-Term Debt to Equity 0.05 0.05 0.03 0.01 0.01
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-12-31 2023-03-31 2022-12-31 2022-09-30 2022-03-31 2021-12-31 2021-03-31 2020-12-31
Cash Per Common Share 9.00 9.08 14.34 11.02 10.33 15.24 10.21 7.31 7.50 9.67 4.72 5.39 7.19 7.73
Quick Ratio
Current Ratio 15.83 12.66 16.80 19.38 17.25 30.12 29.27 20.84 18.61 14.97 7.60 7.70 25.23 20.70
Debt to Equity 0.05 0.08 0.07 0.10 0.11 0.08 0.08 0.14 0.09 0.10 0.16 0.16 0.05 0.06
Long-Term Debt to Equity 0.00 0.02 0.03 0.05 0.05 0.04 0.05 0.08 0.03 0.03 0.01 0.01 0.01 0.01

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
ROA -30.52 -26.15 -31.42 -51.54 -28.98
ROE -33.60 -28.35 -34.31 -59.59 -30.62
Gross Margin
Operating Margin
EBITDA Margin
Net Profit Margin
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-12-31 2023-03-31 2022-12-31 2022-09-30 2022-03-31 2021-12-31 2021-03-31 2020-12-31
ROA -8.11 -6.36 -6.12 -8.89 -5.85 -7.41 -9.37 -15.32 -5.86
ROE -8.52 -6.87 -6.53 -9.85 -6.30 -8.43 -10.35 -17.76 -6.13
Gross Margin
Operating Margin
EBITDA Margin
Net Profit Margin

Dividends

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Dividend Yield
Dividend Payout Ratio
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-12-31 2023-03-31 2022-12-31 2022-09-30 2022-03-31 2021-12-31 2021-03-31 2020-12-31
Dividend Yield
Dividend Payout Ratio

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Assets 825,886.00 580,271.00 356,570.00 195,548.00 273,339.00
   Current Assets 770,380.00 559,962.00 355,173.00 193,582.00 271,345.00
      Cash and Short-Term Investments 797,829.00 569,293.00 351,449.00 188,258.00 268,387.00
            Cash and Cash Equivalents 340,238.00 234,207.00 249,773.00 150,483.00 187,242.00
            Short-Term Investments 402,840.00 315,803.00 101,676.00 37,775.00 81,145.00
      Net Receivables 0 0 0 0 0
      Inventory 0 0 0 0 0
      Other Current Assets -27,449.00 -9,331.00 3,724.00 5,324.00 2,958.00
   Non-Current Assets 55,506.00 20,309.00 1,397.00 1,966.00 1,994.00
      Property, Plant, Equipment Net 755.00 1,026.00 1,289.00 1,549.00 1,793.00
      Goodwill 0 0 0 0 0
      Intangible Assets 0 0 0 0 0
      Long-Term Investments 54,751.00 19,283.00 0 0 0
      Non-Current Deferred Assets 0 0 0 0 0
      Other Non-Current Assets 0.00 0.00 108.00 417.00 201.00
Liabilities 75,774.00 44,965.00 30,008.00 26,439.00 14,627.00
   Current Liabilities 39,754.00 19,128.00 19,083.00 25,128.00 13,111.00
      Payables and Expenses 10,198.00 8,334.00 8,772.00 7,260.00 3,923.00
            Account Payables 9,027.00 7,038.00 7,968.00 6,706.00 3,428.00
            Current Accrued Liabilities 1,171.00 1,296.00 804.00 554.00 495.00
      Short-Term Debt 0 0 0 0 182.00
      Other Current Liabilities 29,556.00 10,794.00 10,311.00 17,868.00 9,006.00
   Non-Current Liabilities 36,020.00 25,837.00 10,925.00 1,311.00 1,516.00
      Long-Term Debt 35,826.00 25,783.00 10,620.00 1,311.00 1,516.00
      Other Non-Current Liabilities 194.00 54.00 305.00 0.00 0.00
Equity 750,112.00 535,306.00 326,562.00 169,109.00 258,712.00
   Shareholders Equity 750,112.00 535,306.00 326,562.00 169,109.00 258,712.00
      Capital Stock 7.00 6.00 5.00 4.00 4.00
      Share Premium 1,575,313.00 1,109,126.00 748,857.00 479,436.00 468,238.00
      Retained Earnings -826,156.00 -574,096.00 -422,337.00 -310,304.00 -209,527.00
      Treasury Shares 0 0 0 0 0
      Accumulated Other Comprehensive Income 948.00 270.00 37.00 -27.00 -3.00
   Minority Interest 0 0 0 0 0
Investments 457,591.00 335,086.00 101,676.00 37,775.00 81,145.00
Debt 35,826.00 25,783.00 10,620.00 1,311.00 1,516.00
Common Shares Outstanding 72,383.01 55,754.44 46,865.21 34,900.73 34,741.65
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Operating Expenses 285,423.00 172,870.00 115,156.00 100,886.00 80,154.00
   Selling, General and Administrative Expenses 37,926.00 31,072.00 29,872.00 19,127.00 15,238.00
   Research and Development Expenses 247,497.00 141,798.00 85,284.00 81,759.00 64,916.00
   Other Operating Expenses 0.00 0.00 0.00 0.00 0.00
Operating Income -285,423.00 -172,870.00 -115,156.00 -100,886.00 -80,154.00
Interest Expense 4,668.00 3,099.00 739.00 0.00 0.00
EBT 0 0 0 0 0
Income Tax 0.00 0.00 0.00 0.00 0.00
Net Income -252,060.00 -151,759.00 -112,033.00 -100,777.00 -79,207.00
Deprecation and Amortization 13,100.00 9,525.00 31.00 1,107.00 100.00
EPS -0.00 -0.00 -0.00 0 0
Diluted EPS -0.00 -0.00 -0.00 -0.00 0
Average Shares Outstanding Basic 67,136.77 52,568.16 38,984.77 0 0
Average Shares Outstanding Diluted 67,136.77 52,568.16 38,984.77 34,827.39 0
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Operating Cash Flow -230,107.00 -145,367.00 -92,517.00 -79,681.00 -70,804.00
   Operating Net Income -252,060.00 -151,759.00 -112,033.00 -100,777.00 -79,207.00
   Deprecation and Amortization -13,100.00 -9,525.00 31.00 1,107.00 100.00
   Deferred Income Tax 0 0 0 0 0
   Share Based Compensation 29,698.00 21,497.00 23,243.00 10,054.00 6,022.00
   Change in Working Capital 2,998.00 -6,333.00 -4,459.00 9,727.00 2,223.00
   Other Operating Activities 2,357.00 753.00 701.00 208.00 58.00
Investing Cash Flow -109,708.00 -223,623.00 -63,825.00 42,280.00 -9,761.00
   Capital Expenditure 0.00 0.00 0.00 0.00 -148.00
   Net Purchase/Sale of PPE 0 0 0 0 -148.00
   Net Purchase/Sale of Investments Net -516,044.00 -433,123.00 -101,446.00 -43,561.00 -115,037.00
   Net Purchase/Sale of Business 25,000.00 25,000.00 0 0 0
   Other Investing Activities 381,336.00 184,500.00 37,621.00 85,841.00 105,572.00
Financing Cash Flow 445,846.00 353,316.00 255,632.00 602.00 203,107.00
   Net Issuance/Repayment of Debt 10,000.00 15,000.00 10,000.00 0 0
   Net Issuance/Repurchase of Equity 13,145.00 3,267.00 245,878.00 750.00 202,857.00
   Dividends Paid 0 0 0 0 0
   Other Financing Activities 422,701.00 335,049.00 -246.00 -148.00 250.00
Net Change in Cash 106,031.00 -15,674.00 99,290.00 -36,799.00 122,542.00
   Cash at Beginning of Period 234,207.00 249,881.00 150,591.00 187,390.00 64,848.00
   Cash at End of Period 340,238.00 234,207.00 249,881.00 150,591.00 187,390.00
Free Cash Flow 0 0 0 0 -70,952.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-12-31 2023-03-31 2022-12-31 2022-09-30 2022-03-31 2021-12-31 2021-03-31 2020-12-31
Assets 1,005,577.00 1,109,152.00 1,155,843.00 825,886.00 817,547.00 912,243.00 580,271.00 348,818.00 356,570.00 379,408.00 169,887.00 195,548.00 257,623.00 273,339.00
   Current Assets 754,535.00 764,600.00 713,151.00 770,380.00 746,888.00 911,280.00 559,962.00 347,489.00 355,173.00 377,946.00 167,934.00 193,582.00 255,776.00 271,345.00
      Cash and Short-Term Investments 737,826.00 742,315.00 1,128,296.00 797,829.00 717,247.00 903,665.00 569,293.00 343,222.00 351,449.00 374,003.00 165,376.00 188,258.00 249,984.00 268,387.00
            Cash and Cash Equivalents 176,032.00 220,449.00 185,922.00 340,238.00 316,065.00 623,854.00 234,207.00 257,884.00 249,773.00 374,003.00 150,489.00 150,483.00 187,960.00 187,242.00
            Short-Term Investments 561,794.00 521,866.00 500,371.00 402,840.00 401,182.00 279,811.00 315,803.00 85,338.00 101,676.00 0 14,887.00 37,775.00 62,024.00 81,145.00
      Net Receivables 0 0 0 0 0 0 0 0 0 0 0 0 0 0
      Inventory 0 0 0 0 0 0 0 0 0 0 0 0 0 0
      Other Current Assets 16,709.00 22,285.00 -415,145.00 -27,449.00 29,641.00 7,615.00 -9,331.00 4,267.00 3,724.00 3,943.00 2,558.00 5,324.00 5,792.00 2,958.00
   Non-Current Assets 251,042.00 344,552.00 442,692.00 55,506.00 70,659.00 963.00 20,309.00 1,329.00 1,397.00 1,462.00 1,953.00 1,966.00 1,847.00 1,994.00
      Property, Plant, Equipment Net 552.00 621.00 689.00 755.00 835.00 963.00 1,026.00 1,221.00 1,289.00 1,354.00 1,485.00 1,549.00 1,732.00 1,793.00
      Goodwill 0 0 0 0 0 0 0 0 0 0 0 0 0 0
      Intangible Assets 0 0 0 0 0 0 0 0 0 0 0 0 0 0
      Long-Term Investments 250,490.00 343,931.00 442,003.00 54,751.00 69,824.00 0 19,283.00 0 0 0 0 0 0 0
      Non-Current Deferred Assets 0 0 0 0 0 0 0 0 0 0 0 0 0 0
      Other Non-Current Assets 0.00 0.00 0.00 0.00 0.00 0.00 0.00 108.00 108.00 108.00 468.00 417.00 115.00 201.00
Liabilities 47,940.00 83,333.00 71,997.00 75,774.00 79,222.00 65,990.00 44,965.00 42,473.00 30,008.00 35,900.00 23,352.00 26,439.00 11,603.00 14,627.00
   Current Liabilities 47,651.00 60,401.00 42,439.00 39,754.00 43,291.00 30,259.00 19,128.00 16,678.00 19,083.00 25,243.00 22,097.00 25,128.00 10,136.00 13,111.00
      Payables and Expenses 41,800.00 42,029.00 13,603.00 10,198.00 38,291.00 16,012.00 8,334.00 8,821.00 8,772.00 8,585.00 5,902.00 7,260.00 5,570.00 3,923.00
            Account Payables 20,399.00 13,249.00 10,831.00 9,027.00 25,223.00 13,783.00 7,038.00 7,080.00 7,968.00 6,010.00 4,450.00 6,706.00 4,605.00 3,428.00
            Current Accrued Liabilities 21,401.00 28,780.00 2,772.00 1,171.00 13,068.00 2,229.00 1,296.00 1,741.00 804.00 2,575.00 1,452.00 554.00 965.00 495.00
      Short-Term Debt 875.00 14,657.00 6,664.00 0 631.00 0 0 0 0 0 0 0 188.00 182.00
      Other Current Liabilities 4,976.00 3,715.00 22,172.00 29,556.00 4,369.00 14,247.00 10,794.00 7,857.00 10,311.00 16,658.00 16,195.00 17,868.00 4,378.00 9,006.00
   Non-Current Liabilities 289.00 22,932.00 29,558.00 36,020.00 35,931.00 35,731.00 25,837.00 25,795.00 10,925.00 10,657.00 1,255.00 1,311.00 1,467.00 1,516.00
      Long-Term Debt 289.00 22,532.00 29,262.00 35,826.00 35,728.00 35,553.00 25,783.00 25,633.00 10,620.00 10,587.00 1,255.00 1,311.00 1,467.00 1,516.00
      Other Non-Current Liabilities 0.00 400.00 296.00 194.00 203.00 178.00 54.00 162.00 305.00 70.00 0.00 0.00 0.00 0.00
Equity 957,637.00 1,025,819.00 1,083,846.00 750,112.00 738,325.00 846,253.00 535,306.00 306,345.00 326,562.00 343,508.00 146,535.00 169,109.00 246,020.00 258,712.00
   Shareholders Equity 957,637.00 1,025,819.00 1,083,846.00 750,112.00 738,325.00 846,253.00 535,306.00 306,345.00 326,562.00 343,508.00 146,535.00 169,109.00 246,020.00 258,712.00
      Capital Stock 8.00 8.00 8.00 7.00 7.00 7.00 6.00 5.00 5.00 5.00 4.00 4.00 4.00 4.00
      Share Premium 2,004,755.00 1,992,209.00 1,979,634.00 1,575,313.00 1,492,347.00 1,473,765.00 1,109,126.00 754,487.00 748,857.00 742,781.00 482,894.00 479,436.00 470,635.00 468,238.00
      Retained Earnings -1,048,952.00 -967,386.00 -896,881.00 -826,156.00 -756,132.00 -627,440.00 -574,096.00 -448,168.00 -422,337.00 -399,278.00 -336,333.00 -310,304.00 -224,617.00 -209,527.00
      Treasury Shares 0 0 0 0 0 0 0 0 0 0 0 0 0 0
      Accumulated Other Comprehensive Income 1,826.00 988.00 1,085.00 948.00 2,103.00 -79.00 270.00 21.00 37.00 0 -30.00 -27.00 -2.00 -3.00
   Minority Interest 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Investments 0 0 942,374.00 457,591.00 0 279,811.00 335,086.00 85,338.00 101,676.00 0 14,887.00 37,775.00 62,024.00 81,145.00
Debt 1,164.00 37,189.00 29,262.00 35,826.00 36,359.00 35,553.00 25,783.00 25,633.00 10,620.00 10,587.00 1,255.00 1,311.00 1,467.00 1,516.00
Common Shares Outstanding 80,149.22 79,919.20 79,669.92 72,383.01 69,614.59 69,148.43 55,754.44 46,979.06 46,865.21 46,657.48 35,022.93 34,900.73 34,770.32 34,741.65
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-03-31 2023-03-31 2022-09-30 2022-03-31 2021-03-31
Interest Income 11,319.00 11,540.00 0 10,244.00 0 0 0 0 0
Interest Expense 1,092.00 1,172.00 1,154.00 1,246.00 991.00 457.00 324.00 0.00 0.00
Non-Interest Expense 11,353.00 11,619.00 0 9,471.00 0 0 0 0 0
Operating Expenses 90,236.00 80,873.00 80,882.00 81,703.00 59,954.00 28,753.00 36,091.00 26,051.00 15,128.00
   Selling, General and Administrative Expenses 11,353.00 11,619.00 11,315.00 9,471.00 9,304.00 6,966.00 11,004.00 5,537.00 4,526.00
   Research and Development Expenses 78,883.00 69,254.00 69,567.00 72,232.00 50,650.00 21,787.00 25,087.00 20,514.00 10,602.00
   Other Operating Expenses 0 0 0.00 0 0.00 0.00 0.00 0.00 0.00
Operating Income -90,236.00 -80,873.00 -80,882.00 -81,703.00 -59,954.00 -28,753.00 -36,091.00 -26,051.00 -15,128.00
EBT -81,566.00 -70,505.00 0 -72,705.00 0 0 0 0 0
Income Tax 0 0 0.00 0 0.00 0.00 0.00 0.00 0.00
Net Income Including Non-Controlling Interests -81,566.00 -70,505.00 0 -72,705.00 0 0 0 0 0
Net Income -81,566.00 -70,505.00 -70,725.00 -72,705.00 -53,344.00 -25,831.00 -35,542.00 -26,029.00 -15,090.00
EBIT -80,474.00 -69,333.00 0 -71,459.00 0 0 0 0 0
Deprecation and Amortization 0 0 2,463.00 1.00 2,921.00 1,257.00 0.00 146.00 132.00
EBITDA -80,474.00 -69,333.00 0 -71,458.00 0 0 0 0 0
EPS -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 0 0
Diluted EPS -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 0 0
Average Shares Outstanding Basic 82,008.27 81,721.39 78,656.63 69,442.14 59,307.76 46,944.06 38,663.47 0 0
Average Shares Outstanding Diluted 82,008.27 81,721.39 78,656.63 69,442.14 59,307.76 46,944.06 38,663.47 0 0
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-03-31 2023-03-31 2022-09-30 2022-03-31 2021-03-31
Operating Cash Flow -67,171.00 -48,246.00 -67,664.00 -70,424.00 -35,140.00 -24,632.00 0.00 -22,876.00 -18,346.00
   Operating Net Income -81,566.00 -70,505.00 -70,725.00 -72,705.00 -53,344.00 -25,831.00 0.00 -26,029.00 -15,090.00
   Deprecation and Amortization 0 0 -2,463.00 1.00 -2,921.00 -1,257.00 0.00 146.00 132.00
   Deferred Income Tax 0 0 0 0 0 0 0.00 0 0
   Share Based Compensation 9,261.00 9,055.00 8,784.00 7,468.00 7,398.00 4,844.00 0.00 3,311.00 2,364.00
   Change in Working Capital 6,184.00 15,680.00 -3,606.00 -1,804.00 13,075.00 -2,707.00 0.00 -348.00 -5,753.00
   Other Operating Activities -1,050.00 -2,476.00 346.00 -3,384.00 652.00 319.00 0.00 44.00 1.00
Investing Cash Flow 56,781.00 79,340.00 -482,183.00 73,067.00 57,849.00 17,590.00 0.00 22,750.00 19,000.00
   Capital Expenditure 0 0 0.00 0 0.00 0.00 0.00 0.00 0.00
   Net Purchase/Sale of PPE 0 0 0 0 0 0 0.00 0 0
   Net Purchase/Sale of Investments Net 56,781.00 79,340.00 -583,301.00 73,067.00 -38,976.00 -24,910.00 0.00 0 0
   Net Purchase/Sale of Business 0 0 0 0 25,000.00 0 0.00 0 0
   Net Loan & Lease Activity 0 0 0 0 0
   Other Investing Activities 0.00 0.00 101,118.00 0.00 71,825.00 42,500.00 0.00 22,750.00 19,000.00
Financing Cash Flow -34,027.00 3,433.00 395,531.00 3,067.00 366,938.00 15,153.00 0.00 132.00 24.00
   Net Issuance/Repayment of Debt -37,398.00 0 378,350.00 0 10,000.00 15,000.00 0.00 0 0
   Net Issuance/Repurchase of Equity 0 0 7,396.00 0 1,769.00 178.00 0.00 147.00 24.00
   Dividends Paid 0 0 0 0 0 0 0.00 0 0
   Other Financing Activities 3,371.00 3,433.00 9,785.00 3,067.00 355,169.00 -25.00 0.00 -15.00 0.00
Net Change in Cash -44,417.00 34,527.00 -154,316.00 5,710.00 389,647.00 8,111.00 0.00 6.00 678.00
   Cash at Beginning of Period 220,449.00 185,922.00 340,238.00 310,355.00 234,207.00 249,881.00 0 150,591.00 187,390.00
   Cash at End of Period 176,032.00 220,449.00 185,922.00 316,065.00 623,854.00 257,992.00 374,111.00 150,597.00 188,068.00
Free Cash Flow -67,171.00 -48,246.00 0 -70,424.00 0 0 0.00 0 0