Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Price to Earnings -0.99 -2.78 -7.77
Price to Sales 1693.33 249.41 116.25
Book Value Per Common Share 1.05 1.32 2.59 3.32 3.50
Price to Book 1.20 3.86 4.11 1.81 2.23
Price to Operating Cash Flow -1.15 -2.86 29.74 -6.38 -6.33
Price to Free Cash Flow -1.15 -2.85 31.06 -6.34 -6.25
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 2022-03-31 2021-12-31 2021-03-31 2020-12-31
Price to Earnings -10.00 -6.36 -3.16 -5.08 -25.26 -21.98 -22.22
Price to Sales 551.72 120.52 235.91
Book Value Per Common Share 0.44 0.61 0.82 1.05 1.22 1.49 1.32 2.22 2.59 3.11 3.32 3.68 3.50
Price to Book 3.62 2.30 1.95 1.20 1.53 5.25 3.86 4.25 4.11 1.64 1.81 2.07 2.23
Price to Operating Cash Flow -7.89 -8.10 -6.63 -4.88 -29.61 -16.11 -19.57 -25.99
Price to Free Cash Flow -7.89 -8.10 -4.88 -29.57 -16.03 -19.55 -25.97
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 -92.14 -9.97
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 2022-03-31 2021-12-31 2021-03-31 2020-12-31
Earning YoY
Revenue YoY 51.13
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 2.42 2.88 4.54 3.53 3.65
Quick Ratio
Current Ratio 9.14 9.21 10.44 11.66 13.62
Debt to Equity 1.35 1.24 0.72 0.09 0.08
Long-Term Debt to Equity 1.10 1.01 0.56 0.00 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 2022-03-31 2021-12-31 2021-03-31 2020-12-31
Cash Per Common Share 1.71 1.92 2.09 2.34 2.53 3.01 2.77 3.71 4.27 3.29 3.53 3.78 3.65
Quick Ratio
Current Ratio 7.96 7.34 9.35 9.14 10.25 10.59 9.21 12.53 10.44 12.94 11.66 17.71 13.62
Debt to Equity 3.07 2.31 1.67 1.35 1.15 1.01 1.24 0.78 0.72 0.08 0.09 0.06 0.08
Long-Term Debt to Equity 2.58 1.88 1.40 1.10 0.95 0.83 1.01 0.65 0.56 0.00 0.00 0.00 0.01

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
ROA -49.73 -59.94 -28.91 -30.82 -33.46
ROE -116.74 -134.19 -49.66 -33.69 -36.23
Gross Margin 21.33
Operating Margin -60269.14 -3205.53 -2165.56
EBITDA Margin -59293.83 -3137.67 -2119.76
Net Profit Margin -60269.14 -3205.53 -2165.56
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 2022-03-31 2021-12-31 2021-03-31 2020-12-31
ROA -9.14 -10.91 -23.22 -14.09 -9.81 -10.82 -6.88 -7.08
ROE -37.22 -36.18 -62.03 -30.28 -19.77 -19.29 -7.45 -7.52
Gross Margin
Operating Margin -6324.44 -545.64 -855.31
EBITDA Margin -6095.56 -531.06 -835.21
Net Profit Margin -5701.11 -545.64 -855.31

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 2022-03-31 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 76,899.00 81,445.00 114,192.00 80,388.00 66,397.00
   Current Assets 74,506.00 78,263.00 110,942.00 79,749.00 64,925.00
      Cash and Short-Term Investments 72,904.00 76,677.00 109,608.00 78,221.00 63,999.00
            Cash and Cash Equivalents 72,904.00 76,677.00 109,306.00 78,221.00 63,608.00
            Short-Term Investments 0 0 302.00 0 391.00
      Net Receivables 0 0 0 0 0
      Inventory 0 0 0 0 0
      Other Current Assets 1,602.00 1,586.00 1,334.00 1,528.00 926.00
   Non-Current Assets 2,393.00 3,182.00 3,250.00 639.00 1,472.00
      Property, Plant, Equipment Net 2,049.00 2,839.00 2,945.00 581.00 891.00
      Goodwill 0 0 0 0 0
      Intangible Assets 0 0 0 0 0
      Long-Term Investments 0 0 0 0 0
      Non-Current Deferred Assets 8,217.00 0 0 0 0
      Other Non-Current Assets -7,873.00 343.00 305.00 58.00 581.00
Liabilities 44,141.00 45,066.00 47,711.00 6,843.00 5,078.00
   Current Liabilities 8,148.00 8,494.00 10,628.00 6,840.00 4,767.00
      Payables and Expenses 7,568.00 0 934.00 0 4,340.00
            Account Payables 0 0 0 0 0
            Current Accrued Liabilities 0 0 934.00 0 0
      Short-Term Debt 580.00 8,494.00 10,628.00 5,842.00 427.00
      Other Current Liabilities 0.00 0.00 -934.00 998.00 0.00
   Non-Current Liabilities 35,993.00 36,572.00 37,083.00 3.00 311.00
      Long-Term Debt 993.00 1,572.00 0 0 0
      Other Non-Current Liabilities 35,000.00 35,000.00 0 0 0
Equity 32,758.00 36,379.00 66,481.00 73,545.00 61,319.00
   Shareholders Equity 32,758.00 36,379.00 66,481.00 73,545.00 61,319.00
      Capital Stock 31.00 28.00 26.00 22.00 18.00
      Share Premium 408,553.00 373,934.00 355,220.00 329,271.00 292,275.00
      Retained Earnings -375,826.00 -337,583.00 -288,765.00 -255,748.00 -230,974.00
      Treasury Shares 0 0 0 0 0
      Accumulated Other Comprehensive Income 0 0 0 0 0
   Minority Interest 0 0 0 0 0
Investments 0 0 302.00 0 391.00
Debt 1,573.00 10,066.00 10,628.00 5,842.00 427.00
Common Shares Outstanding 31,195.89 27,634.21 25,674.82 22,143.97 17,532.89
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Revenues 0 81.00 1,030.00 1,144.00 0
Cost Of Revenue 0 0 0 900.00 0
Gross Profit 0 0 0 244.00 0
Operating Expenses 42,121.00 52,001.00 35,134.00 25,208.00 22,393.00
   Selling, General and Administrative Expenses 12,076.00 13,331.00 11,999.00 8,077.00 6,308.00
   Research and Development Expenses 30,045.00 38,670.00 23,135.00 18,031.00 16,085.00
   Other Operating Expenses 0.00 0.00 0.00 -900.00 0.00
Operating Income -42,121.00 -51,920.00 -34,104.00 -24,964.00 -22,393.00
Net Non-Operating Income 3,878.00 3,102.00 1,087.00 190.00 178.00
Interest Expense 0.00 0.00 0.00 0.00 0.00
Net Interest 3,878.00 3,102.00 1,087.00 190.00 178.00
EBT -38,243.00 -48,818.00 -33,017.00 -24,774.00 -22,215.00
Income Tax 0.00 0.00 0.00 0.00 0.00
Net Income Including Non-Controlling Interests 0 0 0 -24,774.00 0
Net Income Non-Controlling Interests 0 0 0 0.00 0
Net Income -38,243.00 -48,818.00 -33,017.00 -24,774.00 -22,215.00
EBIT -38,243.00 -48,818.00 -33,017.00 -24,774.00 -22,215.00
Deprecation and Amortization 811.00 790.00 699.00 524.00 447.00
EBITDA -37,432.00 -48,028.00 -32,318.00 -24,250.00 -21,768.00
EPS -0.00 -0.00 -0.00 0 0
Diluted EPS -0.00 -0.00 -0.00 0 0
Average Shares Outstanding Basic 30,070.03 26,604.04 24,141.54 0 0
Average Shares Outstanding Diluted 30,070.03 26,604.04 24,141.54 0 0
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Operating Cash Flow -33,072.00 -47,335.00 8,644.00 -20,866.00 -21,617.00
   Operating Net Income -38,243.00 -48,818.00 -33,017.00 -24,774.00 -22,215.00
   Deprecation and Amortization 811.00 790.00 699.00 524.00 447.00
   Deferred Income Tax 0 0 13,800.00 0 0
   Share Based Compensation 5,292.00 3,842.00 2,795.00 1,694.00 1,254.00
   Change in Working Capital -932.00 -2,622.00 39,437.00 2,032.00 -1,103.00
   Other Operating Activities 0.00 -527.00 -15,070.00 -342.00 0.00
Investing Cash Flow -11.00 -153.00 -366.00 -133.00 -253.00
   Capital Expenditure -11.00 -153.00 -366.00 -133.00 -253.00
   Net Purchase/Sale of PPE -11.00 -153.00 -366.00 -133.00 -253.00
   Net Purchase/Sale of Investments Net 0 0 0 0 0
   Net Purchase/Sale of Business 0 0 0 0 0
   Other Investing Activities 11.00 153.00 366.00 133.00 253.00
Financing Cash Flow 29,321.00 14,870.00 23,109.00 35,221.00 76,176.00
   Net Issuance/Repayment of Debt -9.00 -4.00 -49.00 -85.00 -460.00
   Net Issuance/Repurchase of Equity 29,330.00 14,874.00 0 35,306.00 76,636.00
   Dividends Paid 0 0 0 0 0
   Other Financing Activities 0.00 0.00 23,158.00 0.00 0.00
Net Change in Cash -3,762.00 -32,618.00 31,387.00 14,222.00 54,306.00
   Cash at Beginning of Period 76,990.00 109,608.00 78,221.00 63,999.00 9,693.00
   Cash at End of Period 73,228.00 76,990.00 109,608.00 78,221.00 63,999.00
Free Cash Flow -33,083.00 -47,488.00 8,278.00 -20,999.00 -21,870.00
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 2022-03-31 2021-12-31 2021-03-31 2020-12-31
Assets 56,151.00 63,017.00 68,647.00 76,899.00 82,114.00 88,352.00 81,445.00 102,026.00 114,192.00 74,562.00 80,388.00 75,097.00 66,397.00
   Current Assets 54,366.00 61,029.00 66,456.00 74,506.00 79,520.00 85,373.00 78,263.00 98,546.00 110,942.00 74,053.00 79,749.00 73,747.00 64,925.00
      Cash and Short-Term Investments 53,391.00 59,928.00 65,325.00 72,904.00 78,660.00 84,057.00 76,677.00 95,225.00 109,608.00 72,803.00 78,221.00 72,693.00 63,999.00
            Cash and Cash Equivalents 53,391.00 59,928.00 65,325.00 72,904.00 78,660.00 84,057.00 76,677.00 94,921.00 109,306.00 72,411.00 78,221.00 72,301.00 63,608.00
            Short-Term Investments 0 0 0 0 0 0 0 304.00 302.00 392.00 0 392.00 391.00
      Net Receivables 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
      Other Current Assets 975.00 1,101.00 1,131.00 1,602.00 860.00 1,316.00 1,586.00 3,321.00 1,334.00 1,250.00 1,528.00 1,054.00 926.00
   Non-Current Assets 1,785.00 1,988.00 2,191.00 2,393.00 2,594.00 2,979.00 3,182.00 3,480.00 3,250.00 509.00 639.00 1,350.00 1,472.00
      Property, Plant, Equipment Net 1,453.00 1,659.00 1,847.00 2,049.00 2,272.00 2,636.00 2,839.00 3,174.00 2,945.00 471.00 581.00 789.00 891.00
      Goodwill 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
      Long-Term Investments 0 0 0 0 0 0 0 0 0 0 0 0 0
      Non-Current Deferred Assets 0 0 0 8,217.00 0 0 0 0 0 0 0 0 0
      Other Non-Current Assets 332.00 329.00 344.00 -7,873.00 322.00 343.00 343.00 306.00 305.00 38.00 58.00 561.00 581.00
Liabilities 42,367.00 44,004.00 42,953.00 44,141.00 43,906.00 44,495.00 45,066.00 44,818.00 47,711.00 5,725.00 6,843.00 4,361.00 5,078.00
   Current Liabilities 6,834.00 8,314.00 7,110.00 8,148.00 7,755.00 8,064.00 8,494.00 7,864.00 10,628.00 5,723.00 6,840.00 4,164.00 4,767.00
      Payables and Expenses 6,224.00 7,714.00 6,520.00 7,568.00 7,195.00 0 0 0 934.00 0 0 0 4,340.00
            Account Payables 0 0 0 0 0 0 0 0 0 0 0 0 0
            Current Accrued Liabilities 0 0 0 0 0 0 0 0 934.00 0 0 0 0
      Short-Term Debt 610.00 600.00 590.00 580.00 560.00 8,064.00 8,494.00 7,864.00 10,628.00 5,456.00 5,842.00 4,164.00 427.00
      Other Current Liabilities 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -934.00 267.00 998.00 0.00 0.00
   Non-Current Liabilities 35,533.00 35,690.00 35,843.00 35,993.00 36,151.00 36,431.00 36,572.00 36,954.00 37,083.00 2.00 3.00 197.00 311.00
      Long-Term Debt 533.00 690.00 843.00 993.00 1,151.00 1,431.00 1,572.00 0 0 0 0 0 0
      Other Non-Current Liabilities 35,000.00 35,000.00 35,000.00 35,000.00 35,000.00 35,000.00 35,000.00 0 0 0 0 0 0
Equity 13,784.00 19,013.00 25,694.00 32,758.00 38,208.00 43,857.00 36,379.00 57,208.00 66,481.00 68,837.00 73,545.00 70,736.00 61,319.00
   Shareholders Equity 13,784.00 19,013.00 25,694.00 32,758.00 38,208.00 43,857.00 36,379.00 57,208.00 66,481.00 68,837.00 73,545.00 70,736.00 61,319.00
      Capital Stock 31.00 31.00 31.00 31.00 31.00 29.00 28.00 26.00 26.00 22.00 22.00 19.00 18.00
      Share Premium 417,526.00 417,624.00 417,427.00 408,553.00 407,351.00 390,081.00 373,934.00 356,984.00 355,220.00 329,692.00 329,271.00 307,011.00 292,275.00
      Retained Earnings -403,773.00 -398,642.00 -391,764.00 -375,826.00 -369,174.00 -346,253.00 -337,583.00 -299,802.00 -288,765.00 -260,877.00 -255,748.00 -236,294.00 -230,974.00
      Treasury Shares 0 0 0 0 0 0 0 0 0 0 0 0 0
      Accumulated Other Comprehensive Income 0 0 0 0 0 0 0 0 0 0 0 0 0
   Minority Interest 0 0 0 0 0 0 0 0 0 0 0 0 0
Investments 0 0 0 0 0 0 0 304.00 302.00 392.00 0 392.00 391.00
Debt 1,143.00 1,290.00 1,433.00 1,573.00 1,711.00 9,495.00 10,066.00 7,864.00 10,628.00 5,456.00 5,842.00 4,164.00 427.00
Common Shares Outstanding 31,195.89 31,195.89 31,195.89 31,195.89 31,195.89 29,396.41 27,634.21 25,729.37 25,674.82 22,143.97 22,143.97 19,245.64 17,532.89
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-03-31 2022-03-31 2021-03-31
Revenues 90.00 0 0 0 0 0 0 0 940.00 622.00
Interest Income 561.00 625.00 0 0 1,033.00 0 0 0 0 0
Interest Expense 0 0 0.00 0.00 0 0 0.00 0.00 0.00 0.00
Net Interest 0 0 700.00 2,951.00 0 0 927.00 547.00 35.00 52.00
Non-Interest Expense 1,534.00 2,624.00 0 0 2,827.00 0 0 0 0 0
Operating Expenses 5,782.00 7,503.00 16,638.00 19,923.00 12,601.00 0 9,597.00 11,584.00 6,104.00 5,994.00
   Selling, General and Administrative Expenses 1,534.00 2,624.00 8,938.00 6,287.00 2,827.00 0 2,962.00 3,735.00 1,735.00 1,718.00
   Research and Development Expenses 4,248.00 4,879.00 7,700.00 13,636.00 9,774.00 0 6,635.00 7,849.00 4,369.00 4,276.00
   Other Operating Expenses 0 0 0.00 0.00 0 0 0.00 0.00 0.00 0.00
Operating Income -5,692.00 -7,503.00 -16,638.00 -19,923.00 -12,601.00 0 -9,597.00 -11,584.00 -5,164.00 -5,372.00
Net Non-Operating Income 0 0 700.00 2,951.00 0 0 927.00 547.00 35.00 52.00
EBT -5,131.00 -6,878.00 -15,938.00 -18,005.00 -11,568.00 0 -8,670.00 -11,037.00 -5,129.00 -5,320.00
Income Tax 0 0 0.00 0.00 0 0 0.00 0.00 0.00 0.00
Net Income Including Non-Controlling Interests -5,131.00 -6,878.00 0 0 -11,568.00 0 0 0 -5,129.00 -5,320.00
Net Income Non-Controlling Interests 0 0 0 0 0 0 0 0 0.00 0.00
Net Income -5,131.00 -6,878.00 -15,938.00 -18,005.00 -11,568.00 0 -8,670.00 -11,037.00 -5,129.00 -5,320.00
EBIT -5,692.00 -7,503.00 -15,938.00 -16,972.00 -12,601.00 0 -8,670.00 -11,037.00 -5,129.00 -5,320.00
Deprecation and Amortization 206.00 204.00 205.00 393.00 202.00 0 216.00 182.00 137.00 125.00
EBITDA -5,486.00 -7,299.00 -15,733.00 -16,579.00 -12,399.00 0 -8,454.00 -10,855.00 -4,992.00 -5,195.00
EPS -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 0
Diluted EPS -0.00 -0.00 -0.00 0.00 -0.00 -0.00 -0.00 -0.00 0 0
Average Shares Outstanding Basic 31,195.89 31,195.89 31,195.89 31,219.27 31,071.30 30,103.06 27,886.49 25,696.62 0 0
Average Shares Outstanding Diluted 31,195.89 31,195.89 31,195.89 31,219.27 31,071.30 30,103.06 27,886.49 25,696.62 22,143.97 0
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-03-31 2023-03-31 2022-03-31 2021-03-31
Operating Cash Flow -6,325.00 -5,392.00 -7,574.00 -11,975.00 -7,374.00 -15,077.00 -5,781.00 -5,642.00
   Operating Net Income -5,131.00 -6,878.00 -15,938.00 -11,568.00 -8,670.00 -11,037.00 -5,129.00 -5,320.00
   Deprecation and Amortization 206.00 204.00 205.00 202.00 216.00 182.00 137.00 125.00
   Deferred Income Tax 0 0 0 0 0 0 0 0
   Share Based Compensation 109.00 197.00 8,874.00 1,337.00 1,378.00 993.00 421.00 376.00
   Change in Working Capital -1,509.00 1,085.00 -715.00 -1,946.00 -298.00 -5,095.00 -389.00 -740.00
   Other Operating Activities 0.00 0.00 0.00 0.00 0.00 -120.00 -821.00 -83.00
Investing Cash Flow 0 0 0 0 -11.00 -76.00 -7.00 -4.00
   Capital Expenditure 0 0 0.00 0 -11.00 -76.00 -7.00 -4.00
   Net Purchase/Sale of PPE 0 0 0 0 -11.00 -76.00 -7.00 -4.00
   Net Purchase/Sale of Investments Net 0 0 0 0 0 0 0 0
   Net Purchase/Sale of Business 0 0 0 0 0 0 0 0
   Other Investing Activities 0 0 0 0 11.00 76.00 7.00 4.00
Financing Cash Flow -209.00 -3.00 -2.00 4,602.00 14,768.00 770.00 -22.00 14,340.00
   Net Issuance/Repayment of Debt -2.00 -3.00 -2.00 -2.00 -2.00 -1.00 -22.00 -21.00
   Net Issuance/Repurchase of Equity 0 0 0 4,604.00 14,770.00 1.00 0 0
   Dividends Paid 0 0 0 0 0 0 0 0
   Other Financing Activities -207.00 0.00 0.00 0.00 0.00 770.00 0.00 14,361.00
Net Change in Cash -6,534.00 -5,395.00 -7,576.00 -7,373.00 7,383.00 -14,383.00 -5,810.00 8,694.00
   Cash at Beginning of Period 60,257.00 65,652.00 73,228.00 86,355.00 76,990.00 109,608.00 78,221.00 63,999.00
   Cash at End of Period 53,723.00 60,257.00 65,652.00 78,982.00 84,373.00 95,225.00 72,411.00 72,693.00
Free Cash Flow -6,325.00 -5,392.00 0 -11,975.00 -7,385.00 -15,153.00 -5,788.00 -5,646.00