Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Price to Earnings -4.21
Price to Sales 670.37
Book Value Per Common Share 0.83 1.43 2.42 3.93 2.87
Price to Book 4.34
Price to Operating Cash Flow -3.89
Price to Free Cash Flow -3.89
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 -2.77 -23.05 -17.76 -7.65
Price to Sales 360.70
Book Value Per Common Share 0.82 0.81 0.84 0.83 0.86 1.24 1.43 2.06 2.42 3.51 3.93 3.10 2.87
Price to Book 0.88 6.29 3.58 4.34 2.04
Price to Operating Cash Flow -3.42 -32.88 -16.94 -10.14
Price to Free Cash Flow -3.42 -32.86 -10.13
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 0.00 -96.15
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
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 0.97 1.83 2.33 3.88 2.88
Quick Ratio 4.93 6.13 5.62 18.02 5.75
Current Ratio 5.48 6.27 5.83 18.89 6.06
Debt to Equity 0.39 0.33 0.34 0.06 0.23
Long-Term Debt to Equity 0.17 0.15 0.15 0.00 0.04
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 0.93 0.89 0.88 0.86 0.87 1.28 1.55 2.73 2.24 3.52 3.88 3.59 2.88
Quick Ratio 5.82 5.21 7.24 4.93 4.80 5.44 6.13 8.50 5.62 15.81 18.02 11.40 5.75
Current Ratio 5.93 5.63 7.79 5.48 5.41 6.07 6.27 8.75 5.83 16.45 18.89 11.71 6.06
Debt to Equity 0.33 0.36 0.30 0.39 0.41 0.34 0.33 0.25 0.34 0.07 0.06 0.11 0.23
Long-Term Debt to Equity 0.14 0.15 0.16 0.17 0.19 0.15 0.15 0.12 0.15 0.00 0.00 0.02 0.04

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
ROA -66.12 -41.76 -47.33 -29.23 -41.89
ROE -91.68 -55.70 -63.60 -30.94 -51.53
Gross Margin
Operating Margin -16005.50 -12598.75 -436.55 -155.24
EBITDA Margin -15714.25 -12491.25 -415.10 -148.74
Net Profit Margin -16005.75 -12597.25 -436.53 -155.18
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 -24.14 -19.24 -15.30 -18.84 -13.68 -8.73 -11.60 -12.97
ROE -32.16 -26.16 -19.88 -26.50 -18.38 -10.89 -12.35 -14.44
Gross Margin
Operating Margin -14076.32 -6590.21
EBITDA Margin -13871.58 -6572.77
Net Profit Margin -13549.47 -6591.91

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 96,830.00 120,653.00 95,786.00 115,537.00 38,726.00
   Current Assets 81,954.00 102,992.00 80,871.00 113,569.00 35,531.00
      Cash and Short-Term Investments 72,125.00 98,166.00 66,146.00 107,911.00 31,689.00
            Cash and Cash Equivalents 11,055.00 22,544.00 9,981.00 2,336.00 16,952.00
            Short-Term Investments 61,070.00 75,622.00 56,165.00 105,575.00 14,737.00
      Net Receivables 1,736.00 2,436.00 11,775.00 435.00 2,039.00
      Inventory 0 0 0 0 0
      Other Current Assets 8,093.00 2,390.00 2,950.00 5,223.00 1,803.00
   Non-Current Assets 14,876.00 17,661.00 14,915.00 1,968.00 3,195.00
      Property, Plant, Equipment Net 10,667.00 12,258.00 10,309.00 1,810.00 2,982.00
      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 0 0 0 0 0
      Other Non-Current Assets 4,209.00 5,403.00 4,606.00 158.00 213.00
Liabilities 26,998.00 30,183.00 24,502.00 6,411.00 7,242.00
   Current Liabilities 14,967.00 16,416.00 13,862.00 6,013.00 5,864.00
      Payables and Expenses 13,715.00 15,088.00 12,968.00 5,033.00 5,003.00
            Account Payables 4,323.00 3,529.00 3,106.00 1,031.00 1,431.00
            Current Accrued Liabilities 9,392.00 11,559.00 9,862.00 4,002.00 3,572.00
      Short-Term Debt 1,252.00 1,328.00 894.00 980.00 861.00
      Other Current Liabilities 0.00 0.00 0.00 0.00 0.00
   Non-Current Liabilities 12,031.00 13,767.00 10,640.00 398.00 1,378.00
      Long-Term Debt 12,031.00 13,767.00 10,640.00 398.00 1,378.00
      Other Non-Current Liabilities 0.00 0.00 0.00 0.00 0.00
Equity 69,832.00 90,470.00 71,284.00 109,126.00 31,484.00
   Shareholders Equity 70,019.00 90,658.00 71,464.00 109,301.00 31,650.00
      Capital Stock 84.00 63.00 29.00 28.00 11.00
      Share Premium 602,021.00 558,692.00 489,502.00 481,832.00 370,210.00
      Retained Earnings -532,046.00 -468,023.00 -417,634.00 -372,296.00 -338,528.00
      Treasury Shares 0 0 0 0 0
      Accumulated Other Comprehensive Income -40.00 -74.00 -433.00 -263.00 -43.00
   Minority Interest -187.00 -188.00 -180.00 -175.00 -166.00
Investments 61,070.00 75,622.00 56,165.00 105,575.00 14,737.00
Debt 13,283.00 15,095.00 11,534.00 1,378.00 2,239.00
Common Shares Outstanding 84,038.92 63,286.40 29,498.49 27,793.03 11,018.95
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Revenues 400.00 400.00 10,386.00 0 10,455.00
Operating Expenses 68,149.00 55,272.00 56,790.00 34,015.00 26,366.00
   Selling, General and Administrative Expenses 13,777.00 12,979.00 13,982.00 10,751.00 9,075.00
   Research and Development Expenses 54,372.00 42,293.00 42,808.00 23,264.00 17,291.00
   Other Operating Expenses 0.00 0.00 0.00 0.00 0.00
Operating Income -67,914.00 -54,919.00 -46,404.00 -34,015.00 -15,911.00
Net Non-Operating Income 3,892.00 4,524.00 1,064.00 241.00 -319.00
Interest Expense 0.00 0.00 0.00 0.00 0.00
EBT -64,022.00 -50,395.00 -45,340.00 -33,774.00 -16,230.00
Income Tax 0.00 0.00 0.00 0.00 0.00
Net Income Including Non-Controlling Interests -64,022.00 -50,397.00 -45,343.00 -33,777.00 -16,230.00
Net Income Non-Controlling Interests -1.00 8.00 5.00 9.00 6.00
Net Income -64,023.00 -50,389.00 -45,338.00 -33,768.00 -16,224.00
EBIT -64,022.00 -50,395.00 -45,340.00 -33,774.00 -16,230.00
Deprecation and Amortization 1,165.00 430.00 2,228.00 841.00 679.00
EBITDA -62,857.00 -49,965.00 -43,112.00 -32,933.00 -15,551.00
EPS -0.00 -0.00 -0.00 0 0
Diluted EPS -0.00 -0.00 -0.00 0 0
Average Shares Outstanding Basic 74,261.26 53,606.49 28,419.57 0 0
Average Shares Outstanding Diluted 74,261.26 53,606.49 28,419.57 0 0
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Operating Cash Flow -69,119.00 -33,221.00 -41,886.00 -33,075.00 -15,301.00
   Operating Net Income -64,022.00 -50,397.00 -45,343.00 -33,777.00 -16,230.00
   Deprecation and Amortization -1,165.00 -430.00 2,228.00 841.00 679.00
   Deferred Income Tax 0 0 0 0 0
   Share Based Compensation 0 0 0 0 0
   Change in Working Capital -6,918.00 15,012.00 -833.00 -2,588.00 -1,506.00
   Other Operating Activities 2,986.00 2,594.00 2,062.00 2,449.00 1,756.00
Investing Cash Flow 17,233.00 -20,127.00 47,245.00 -91,566.00 6,900.00
   Capital Expenditure -65.00 -4,215.00 -1,641.00 -192.00 -202.00
   Net Purchase/Sale of PPE -58.00 -4,200.00 -1,462.00 -142.00 -184.00
   Net Purchase/Sale of Investments Net 17,291.00 -15,927.00 48,707.00 -91,424.00 7,084.00
   Net Purchase/Sale of Business 0 0 0 0 0
   Other Investing Activities 65.00 4,215.00 1,641.00 192.00 202.00
Financing Cash Flow 39,864.00 66,230.00 5,451.00 110,025.00 16,143.00
   Net Issuance/Repayment of Debt -497.00 -394.00 -66.00 0 -9,083.00
   Net Issuance/Repurchase of Equity 0 0 0 0 0
   Dividends Paid 0 0 0 0 0
   Other Financing Activities 40,361.00 66,624.00 5,517.00 110,025.00 25,226.00
Net Change in Cash -12,022.00 12,882.00 10,810.00 -14,616.00 7,742.00
   Cash at Beginning of Period 26,028.00 13,146.00 2,336.00 16,952.00 9,210.00
   Cash at End of Period 14,006.00 26,028.00 13,146.00 2,336.00 16,952.00
Free Cash Flow -69,184.00 -37,436.00 -43,527.00 -33,267.00 -15,503.00
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 106,652.00 101,534.00 97,245.00 96,830.00 91,616.00 113,251.00 120,653.00 136,838.00 95,786.00 104,776.00 115,537.00 55,128.00 38,726.00
   Current Assets 93,014.00 87,492.00 83,271.00 81,954.00 76,317.00 96,916.00 102,992.00 119,447.00 80,871.00 103,117.00 113,569.00 52,134.00 35,531.00
      Cash and Short-Term Investments 90,202.00 80,346.00 76,349.00 72,125.00 65,987.00 84,496.00 98,166.00 114,385.00 66,146.00 98,666.00 107,911.00 50,637.00 31,689.00
            Cash and Cash Equivalents 6,150.00 17,220.00 10,362.00 11,055.00 11,458.00 6,808.00 22,544.00 20,690.00 9,981.00 8,324.00 2,336.00 12,587.00 16,952.00
            Short-Term Investments 84,052.00 63,126.00 65,987.00 61,070.00 54,529.00 77,688.00 75,622.00 93,695.00 56,165.00 90,342.00 105,575.00 38,050.00 14,737.00
      Net Receivables 1,042.00 498.00 988.00 1,736.00 1,831.00 2,476.00 2,436.00 1,625.00 11,775.00 426.00 435.00 89.00 2,039.00
      Inventory 0 0 0 0 0 0 0 0 0 0 0 0 0
      Other Current Assets 1,770.00 6,648.00 5,934.00 8,093.00 8,499.00 9,944.00 2,390.00 3,437.00 2,950.00 4,025.00 5,223.00 1,408.00 1,803.00
   Non-Current Assets 13,638.00 14,042.00 13,974.00 14,876.00 15,299.00 16,335.00 17,661.00 17,391.00 14,915.00 1,659.00 1,968.00 2,994.00 3,195.00
      Property, Plant, Equipment Net 10,777.00 11,098.00 10,433.00 10,667.00 12,243.00 11,352.00 12,258.00 12,109.00 10,309.00 1,483.00 1,810.00 2,760.00 2,982.00
      Real Estate 0 0 0 0 0 0 0 5,500.00 0 0 0 0 0
      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 0 0 0 0 0 0 0 0 0 0
      Other Non-Current Assets 2,861.00 2,944.00 3,541.00 4,209.00 3,056.00 4,983.00 5,403.00 5,282.00 4,606.00 176.00 158.00 234.00 213.00
Liabilities 26,608.00 26,878.00 22,383.00 26,998.00 26,477.00 28,969.00 30,183.00 27,140.00 24,502.00 6,402.00 6,411.00 5,596.00 7,242.00
   Current Liabilities 15,678.00 15,531.00 10,683.00 14,967.00 14,118.00 15,979.00 16,416.00 13,654.00 13,862.00 6,269.00 6,013.00 4,451.00 5,864.00
      Payables and Expenses 14,249.00 14,200.00 9,393.00 13,715.00 12,907.00 14,843.00 15,088.00 12,853.00 12,968.00 5,257.00 5,033.00 3,561.00 5,003.00
            Account Payables 4,064.00 3,881.00 1,531.00 4,323.00 3,949.00 4,893.00 3,529.00 3,965.00 3,106.00 1,563.00 1,031.00 1,161.00 1,431.00
            Current Accrued Liabilities 10,185.00 10,319.00 7,862.00 9,392.00 8,958.00 9,950.00 11,559.00 8,888.00 9,862.00 3,694.00 4,002.00 2,400.00 3,572.00
      Short-Term Debt 1,429.00 1,331.00 1,290.00 1,252.00 1,211.00 1,136.00 1,328.00 801.00 894.00 1,012.00 980.00 890.00 861.00
      Other Current Liabilities 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
   Non-Current Liabilities 10,930.00 11,347.00 11,700.00 12,031.00 12,359.00 12,990.00 13,767.00 13,486.00 10,640.00 133.00 398.00 1,145.00 1,378.00
      Long-Term Debt 10,930.00 11,347.00 11,700.00 12,031.00 12,359.00 12,990.00 13,767.00 13,486.00 10,640.00 133.00 398.00 1,145.00 1,378.00
      Other Non-Current Liabilities 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Equity 80,044.00 74,656.00 74,862.00 69,832.00 65,139.00 84,282.00 90,470.00 109,698.00 71,284.00 98,374.00 109,126.00 49,532.00 31,484.00
   Shareholders Equity 80,235.00 74,845.00 75,050.00 70,019.00 65,325.00 84,466.00 90,658.00 109,879.00 71,464.00 98,550.00 109,301.00 49,702.00 31,650.00
      Capital Stock 98.00 93.00 89.00 84.00 76.00 68.00 63.00 53.00 29.00 28.00 28.00 16.00 11.00
      Share Premium 672,339.00 641,284.00 621,953.00 602,021.00 582,292.00 568,070.00 558,692.00 539,659.00 489,502.00 483,730.00 481,832.00 395,422.00 370,210.00
      Retained Earnings -592,201.00 -566,457.00 -546,926.00 -532,046.00 -517,079.00 -483,514.00 -468,023.00 -429,585.00 -417,634.00 -384,449.00 -372,296.00 -345,679.00 -338,528.00
      Treasury Shares 0 0 0 0 0 0 0 0 0 0 0 0 0
      Accumulated Other Comprehensive Income -1.00 -75.00 -66.00 -40.00 36.00 -158.00 -74.00 -248.00 -433.00 -759.00 -263.00 -57.00 -43.00
   Minority Interest -191.00 -189.00 -188.00 -187.00 -186.00 -184.00 -188.00 -181.00 -180.00 -176.00 -175.00 -170.00 -166.00
Investments 0 0 65,987.00 61,070.00 0 77,688.00 75,622.00 93,695.00 56,165.00 90,342.00 105,575.00 38,050.00 14,737.00
Debt 12,359.00 12,678.00 12,990.00 13,283.00 13,570.00 14,126.00 15,095.00 14,287.00 11,534.00 1,145.00 1,378.00 2,035.00 2,239.00
Common Shares Outstanding 97,986.63 92,871.18 89,002.82 84,038.92 75,811.29 68,354.03 63,286.40 53,339.61 29,498.49 28,056.25 27,793.03 16,011.39 11,018.95
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
Revenues 190.00 0 0.00 0 235.00 0.00 0 0
Interest Expense 0 0 0.00 0 0.00 0.00 0.00 0.00
Non-Interest Expense 4,805.00 4,929.00 0 3,336.00 0 0 0 0
Operating Expenses 26,935.00 20,313.00 15,773.00 18,143.00 16,871.00 12,787.00 12,378.00 7,202.00
   Selling, General and Administrative Expenses 4,805.00 4,929.00 3,959.00 3,336.00 3,507.00 3,408.00 3,482.00 2,686.00
   Research and Development Expenses 22,130.00 15,384.00 11,814.00 14,807.00 13,364.00 9,379.00 8,896.00 4,516.00
   Other Operating Expenses 0 0 0.00 0 0.00 0.00 0.00 0.00
Operating Income -26,745.00 -20,313.00 -15,773.00 -18,143.00 -16,636.00 -12,787.00 -12,378.00 -7,202.00
Net Non-Operating Income 999.00 781.00 892.00 882.00 1,149.00 835.00 224.00 47.00
EBT -25,746.00 -19,532.00 -14,881.00 -17,261.00 -15,487.00 -11,952.00 -12,154.00 -7,155.00
Income Tax 0 0 0.00 0 0.00 0.00 0.00 0.00
Net Income Including Non-Controlling Interests -25,746.00 -19,532.00 -14,881.00 -17,261.00 -15,487.00 -11,952.00 -12,154.00 -7,155.00
Net Income Non-Controlling Interests 2.00 1.00 1.00 2.00 -4.00 1.00 1.00 4.00
Net Income -25,744.00 -19,531.00 -14,880.00 -17,259.00 -15,491.00 -11,951.00 -12,153.00 -7,151.00
EBIT -26,745.00 -20,313.00 -14,881.00 -18,143.00 -15,487.00 -11,952.00 -12,154.00 -7,155.00
Deprecation and Amortization 389.00 387.00 140.00 388.00 41.00 336.00 535.00 172.00
EBITDA -26,356.00 -19,926.00 -14,741.00 -17,755.00 -15,446.00 -11,616.00 -11,619.00 -6,983.00
EPS -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 0 -0.00
Diluted EPS -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 0 -0.00
Average Shares Outstanding Basic 97,153.54 90,120.24 86,485.13 75,801.67 66,080.59 41,897.71 0 14,103.78
Average Shares Outstanding Diluted 97,153.54 90,120.24 86,485.13 75,801.67 66,080.59 41,897.71 0 14,103.78
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 -20,476.00 -13,894.00 -15,420.00 -13,158.00 -22,380.00 -590.00 -10,119.00 -5,827.00
   Operating Net Income -25,746.00 -19,532.00 -14,881.00 -17,261.00 -15,487.00 -11,952.00 -12,154.00 -7,155.00
   Deprecation and Amortization 389.00 387.00 -140.00 388.00 -41.00 336.00 535.00 172.00
   Deferred Income Tax 0 0 0 0 0 0 0 0
   Share Based Compensation 1,307.00 1,305.00 0 752.00 0 0 0 0
   Change in Working Capital 4,086.00 4,404.00 -1,577.00 3,572.00 -7,592.00 10,407.00 1,172.00 824.00
   Other Operating Activities -512.00 -458.00 1,178.00 -609.00 740.00 619.00 328.00 332.00
Investing Cash Flow -20,377.00 3,301.00 -4,420.00 17,946.00 -1,356.00 -38,172.00 14,626.00 -23,395.00
   Capital Expenditure 0 0 0.00 0 -17.00 -1,246.00 -43.00 -17.00
   Net Purchase/Sale of PPE -37.00 -9.00 0 -15.00 -17.00 -1,246.00 126.00 -17.00
   Net Purchase/Sale of Investments Net -20,340.00 3,310.00 -4,420.00 17,961.00 -1,339.00 -36,926.00 14,500.00 -23,378.00
   Net Purchase/Sale of Business 0 0 0 0 0 0 0 0
   Other Investing Activities 0.00 0.00 0.00 0.00 17.00 1,246.00 43.00 17.00
Financing Cash Flow 29,617.00 17,897.00 18,628.00 -105.00 7,730.00 49,496.00 1,481.00 24,857.00
   Net Issuance/Repayment of Debt -136.00 -133.00 -131.00 -125.00 -121.00 -66.00 0 0
   Net Issuance/Repurchase of Equity 29,753.00 17,932.00 0 20.00 0 0 0 0
   Dividends Paid 0 0 0 0 0 0 0 0
   Other Financing Activities 0.00 98.00 18,759.00 0.00 7,851.00 49,562.00 1,481.00 24,857.00
Net Change in Cash -11,236.00 7,304.00 -1,212.00 4,683.00 -16,006.00 10,734.00 5,988.00 -4,365.00
   Cash at Beginning of Period 20,098.00 12,794.00 14,006.00 9,701.00 26,028.00 13,146.00 2,336.00 16,952.00
   Cash at End of Period 8,862.00 20,098.00 12,794.00 14,384.00 10,022.00 23,880.00 8,324.00 12,587.00
Free Cash Flow -20,513.00 -13,903.00 0 -13,173.00 -22,397.00 -1,836.00 -10,162.00 -5,844.00