Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Price to Earnings -2.73 -5.37 -1.21 -2.63
Price to Sales 59.19 657.14 29.14 248.33
Book Value Per Common Share 1.61 0.64 1.73 3.45
Price to Book 1.46 10.06 1.10 1.51
Price to Operating Cash Flow -2.91 -7.69 -1.61 -3.17
Price to Free Cash Flow -2.49 -7.15 -1.47 -2.95
Enterprise Value to EBITDA
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Price to Earnings -5.43 -12.67 -5.96 -11.71
Price to Sales 20.48 29.01 45.86 23500.00
Book Value Per Common Share 1.00 1.30 1.39 1.61 1.79
Price to Book 1.63 1.75 1.11 1.46 2.03
Price to Operating Cash Flow -6.39 -8.34 -5.46 -16.49 -12.59
Price to Free Cash Flow -5.40 -7.58 -4.92 -10.12 -11.19
Enterprise Value to EBITDA

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Earning YoY
Revenue YoY 496.00 -72.59 311.02
EBITDA YoY
Net Profit YoY
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Earning YoY
Revenue YoY 1.30 132.94 30872.41
EBITDA YoY
Net Profit YoY

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Cash Per Common Share 2.30 1.38 4.03 4.31
Quick Ratio 10.47 5.90 8.87 11.79
Current Ratio 10.88 6.15 9.18 12.15
Debt to Equity 0.83 2.37 0.64 0.29
Long-Term Debt to Equity 0.69 1.97 0.49 0.20
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Cash Per Common Share 1.38 1.71 1.94 2.21 2.47
Quick Ratio 5.52 7.82 8.74 10.47 13.35
Current Ratio 6.19 8.43 9.24 10.88 13.69
Debt to Equity 1.49 1.08 1.01 0.83 0.73
Long-Term Debt to Equity 1.18 0.88 0.83 0.69 0.62

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
ROA -28.19 -55.51 -30.36 -35.04
ROE -51.64 -186.93 -49.83 -45.35
Gross Margin -12.52 100.00
Operating Margin -2073.52 -9619.26 -2254.80 -9351.89
EBITDA Margin -1997.27 -9232.63 -2134.97 -8790.64
Net Profit Margin -2180.45 -12272.26 -2402.95 -9429.06
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
ROA -11.95 -6.65 -9.40 -3.53 -9.92
ROE -29.81 -13.83 -18.91 -6.46 -17.21
Gross Margin -35.15 -16.83 -99.86
Operating Margin -321.16 -292.58 -643.43 -196479.31
EBITDA Margin -305.29 -271.98 -618.08 -189317.24
Net Profit Margin -373.30 -229.02 -781.13 -95193.10

Dividends

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

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Assets 782,725.00 375,381.00 490,274.00 405,560.00
   Current Assets 660,929.00 275,302.00 425,771.00 346,952.00
      Cash and Short-Term Investments 588,023.00 239,566.00 382,436.00 310,338.00
            Cash and Cash Equivalents 227,380.00 239,566.00 382,436.00 310,338.00
            Short-Term Investments 360,643.00 0 0 0
      Net Receivables 48,240.00 24,542.00 28,976.00 26,250.00
      Inventory 4,138.00 0 0 0
      Other Current Assets 20,528.00 11,194.00 0 0
   Non-Current Assets 121,796.00 100,079.00 64,503.00 58,608.00
      Property, Plant, Equipment Net 105,051.00 95,653.00 58,419.00 52,316.00
      Goodwill 0 0 0 0
      Intangible Assets 12,373.00 0 0 65.00
      Long-Term Investments 0 0 0 0
      Non-Current Deferred Assets 3,239.00 3,063.00 2,076.00 1,826.00
      Other Non-Current Assets 1,133.00 0 0 4,401.00
Liabilities 355,400.00 263,907.00 191,600.00 92,240.00
   Current Liabilities 60,743.00 44,737.00 46,366.00 28,551.00
      Payables and Expenses 34,085.00 24,394.00 30,754.00 15,191.00
            Account Payables 1,969.00 103.00 531.00 431.00
            Current Accrued Liabilities 28,522.00 24,291.00 30,223.00 14,760.00
      Short-Term Debt 2,998.00 5,053.00 5,038.00 4,453.00
      Other Current Liabilities 23,660.00 15,290.00 10,574.00 8,907.00
   Non-Current Liabilities 294,657.00 219,170.00 145,234.00 63,689.00
      Long-Term Debt 49,631.00 47,914.00 19,218.00 16,545.00
      Other Non-Current Liabilities 245,026.00 171,256.00 126,016.00 47,144.00
Equity 427,325.00 111,474.00 298,674.00 313,320.00
   Shareholders Equity 427,325.00 111,474.00 298,674.00 313,320.00
      Capital Stock 12.00 8.00 8.00 4.00
      Share Premium 1,555,593.00 1,018,902.00 1,007,625.00 843,108.00
      Retained Earnings -1,099,224.00 -878,562.00 -670,179.00 -521,340.00
      Treasury Shares 0 0 0 0
      Accumulated Other Comprehensive Income -29,174.00 -28,992.00 -38,898.00 -8,570.00
   Minority Interest 0 0 0 0
Debt 52,629.00 52,967.00 24,256.00 20,998.00
Common Shares Outstanding 266,121.69 174,101.36 173,074.51 90,907.83
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Revenues 10,120.00 1,698.00 6,194.00 1,507.00
Cost Of Revenue 11,387.00 0 0 0
Interest Income 32,355.00 13,505.00 1,708.00 262.00
Interest Expense 9,294.00 45,067.00 8,905.00 1,105.00
Non-Interest Expense 101,086.00 46,745.00 31,899.00 31,865.00
Gross Profit -1,267.00 1,698.00 0 0
Operating Expenses 239,522.00 177,226.00 149,087.00 141,881.00
   Selling, General and Administrative Expenses 101,086.00 46,745.00 31,899.00 31,865.00
   Research and Development Expenses 138,436.00 130,481.00 117,354.00 110,839.00
   Other Operating Expenses 0 0 -166.00 -823.00
Operating Income -240,789.00 -175,528.00 -142,893.00 -140,374.00
Net Non-Operating Income 220.00 222.00 2,038.00 -145.00
EBT -219,134.00 -208,402.00 -148,567.00 -142,038.00
Income Tax 1,528.00 -19.00 272.00 58.00
Net Income Including Non-Controlling Interests -220,662.00 -208,383.00 -148,839.00 -142,096.00
Net Income -220,662.00 -208,383.00 -148,839.00 -142,096.00
EBIT -209,840.00 -163,335.00 -139,662.00 -140,933.00
Deprecation and Amortization 7,716.00 6,565.00 7,422.00 8,458.00
EBITDA -202,124.00 -156,770.00 -132,240.00 -132,475.00
EPS -0.00 -0.00 -0.00 -0.00
Diluted EPS -0.00 -0.00 -0.00 -0.00
Average Shares Outstanding Basic 255,161.04 173,941.93 94,993.40 72,084.08
Average Shares Outstanding Diluted 255,161.04 173,941.93 94,993.40 72,084.08
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Cash Flow -206,271.00 -145,587.00 -112,308.00 -117,861.00
   Operating Net Income -220,662.00 -208,383.00 -148,839.00 -142,096.00
   Deprecation and Amortization 7,716.00 6,565.00 7,422.00 8,458.00
   Deferred Income Tax -185.00 -986.00 -268.00 -72.00
   Share Based Compensation 15,472.00 11,204.00 12,014.00 9,937.00
   Change in Working Capital -23,655.00 292.00 536.00 410.00
   Other Operating Activities 15,043.00 45,721.00 16,827.00 5,502.00
Investing Cash Flow -394,552.00 -10,986.00 -10,841.00 -8,857.00
   Capital Expenditure 0 0 0 0
   Net Purchase/Sale of PPE -22,075.00 -10,986.00 -10,841.00 -8,857.00
   Net Purchase/Sale of Investments Net -359,733.00 0 0 0
   Net Purchase/Sale of Business 0 0 0 0
   Other Investing Activities -12,744.00 0.00 0 0
Financing Cash Flow 589,554.00 -883.00 223,610.00 284,063.00
   Net Issuance/Repayment of Debt 0 0 0 0
   Net Issuance/Repurchase of Equity 0 0 0 0
   Dividends Paid 0 0 0 0
   Other Financing Activities 0 0 0 0
Net Change in Cash -11,269.00 -157,456.00 100,461.00 157,345.00
   Cash at Beginning of Period 240,335.00 382,761.00 310,676.00 154,085.00
   Cash at End of Period 228,805.00 240,335.00 382,761.00 310,676.00
Free Cash Flow -241,090.00 -156,573.00 -123,149.00 -126,718.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Assets 661,947.00 720,981.00 746,338.00 782,725.00 827,490.00
   Current Assets 514,577.00 574,250.00 615,773.00 660,929.00 718,114.00
      Cash and Short-Term Investments 367,413.00 454,279.00 516,575.00 588,023.00 657,067.00
            Cash and Cash Equivalents 86,124.00 123,825.00 95,799.00 227,380.00 657,067.00
            Short-Term Investments 281,289.00 330,454.00 420,776.00 360,643.00 0
      Net Receivables 91,359.00 78,592.00 65,339.00 48,240.00 43,283.00
      Inventory 27,723.00 23,943.00 14,647.00 4,138.00 0
      Other Current Assets 28,082.00 17,436.00 19,212.00 20,528.00 0
   Non-Current Assets 147,370.00 146,731.00 130,565.00 121,796.00 109,376.00
      Property, Plant, Equipment Net 123,476.00 125,086.00 114,220.00 105,051.00 104,761.00
      Goodwill 0 0 0 0 0
      Intangible Assets 20,283.00 12,933.00 12,475.00 12,373.00 0
      Long-Term Investments 0 0 0 0 0
      Non-Current Deferred Assets 2,389.00 2,402.00 2,761.00 3,239.00 3,389.00
      Other Non-Current Assets 1,222.00 6,310.00 1,109.00 1,133.00 0
Liabilities 396,495.00 374,517.00 375,230.00 355,400.00 350,525.00
   Current Liabilities 83,071.00 68,151.00 66,615.00 60,743.00 52,474.00
      Payables and Expenses 35,856.00 35,201.00 35,548.00 34,085.00 33,462.00
            Account Payables 10,967.00 5,408.00 4,457.00 1,969.00 1,418.00
            Current Accrued Liabilities 20,718.00 25,537.00 27,382.00 28,522.00 28,080.00
      Short-Term Debt 4,828.00 3,277.00 2,974.00 2,998.00 3,568.00
      Other Current Liabilities 42,387.00 29,673.00 28,093.00 23,660.00 15,444.00
   Non-Current Liabilities 313,424.00 306,366.00 308,615.00 294,657.00 298,051.00
      Long-Term Debt 61,007.00 61,258.00 54,734.00 49,631.00 48,661.00
      Other Non-Current Liabilities 252,417.00 245,108.00 253,881.00 245,026.00 249,390.00
Equity 265,452.00 346,464.00 371,108.00 427,325.00 476,965.00
   Shareholders Equity 265,452.00 346,464.00 371,108.00 427,325.00 476,965.00
      Capital Stock 12.00 12.00 12.00 12.00 12.00
      Share Premium 1,566,662.00 1,562,774.00 1,558,469.00 1,555,593.00 1,549,351.00
      Retained Earnings -1,296,420.00 -1,217,302.00 -1,169,385.00 -1,099,224.00 -1,071,618.00
      Treasury Shares 0 0 0 0 0
      Accumulated Other Comprehensive Income -4,920.00 862.00 -18,106.00 -29,174.00 -898.00
   Minority Interest 0 0 0 0 0
Debt 65,835.00 64,535.00 57,708.00 52,629.00 52,229.00
Common Shares Outstanding 266,141.41 266,137.84 266,125.34 266,121.69 266,117.28
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30
Revenues 21,194.00 20,923.00 8,982.00 29.00 0 0
Cost Of Revenue 28,643.00 24,445.00 17,951.00 0 0 0
Interest Income 4,382.00 12,063.00 6,137.00 7,447.00 8,320.00 0
Interest Expense 10,520.00 0 10,143.00 -30,835.00 10,686.00 10,174.00
Non-Interest Expense 36,280.00 30,265.00 29,534.00 33,676.00 27,330.00 0
Gross Profit -7,449.00 -3,522.00 -8,969.00 0 0 0
Operating Expenses 64,172.00 57,695.00 56,268.00 64,506.00 67,653.00 0
   Selling, General and Administrative Expenses 36,280.00 30,265.00 29,534.00 33,676.00 27,330.00 0
   Research and Development Expenses 27,892.00 27,430.00 26,734.00 30,830.00 40,323.00 0
Operating Income -71,621.00 -61,217.00 -65,237.00 -75,864.00 -67,653.00 0
Net Non-Operating Income 84.00 135.00 129.00 59.00 54.00 0
EBT -78,586.00 -47,520.00 -67,936.00 -26,144.00 -82,072.00 0
Income Tax 532.00 397.00 2,225.00 1,462.00 22.00 0
Net Income Including Non-Controlling Interests -79,118.00 -47,917.00 -70,161.00 -27,606.00 -82,094.00 0
Net Income -79,118.00 -47,917.00 -70,161.00 -27,606.00 -82,094.00 0
EBIT -68,066.00 -61,217.00 -57,793.00 -56,979.00 -71,386.00 0
Deprecation and Amortization 3,363.00 4,311.00 2,277.00 2,077.00 3,129.00 0
EBITDA -64,703.00 -56,906.00 -55,516.00 -54,902.00 -68,257.00 0
EPS -0.00 -0.00 -0.00 0 -0.00 -0.00
Diluted EPS -0.00 -0.00 -0.00 0 -0.00 -0.00
Average Shares Outstanding Basic 266,141.43 266,141.41 266,126.55 0 266,084.59 266,025.78
Average Shares Outstanding Diluted 266,141.43 266,141.41 266,126.55 0 266,084.59 266,025.78
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30
Operating Cash Flow -67,899.00 -72,781.00 -75,565.00 -37,934.00 -76,740.00
   Operating Net Income -79,115.00 -47,920.00 -70,161.00 -27,606.00 -82,094.00
   Deprecation and Amortization 3,363.00 4,311.00 2,277.00 2,077.00 3,129.00
   Deferred Income Tax 13.00 384.00 487.00 141.00 -168.00
   Share Based Compensation 3,835.00 4,293.00 2,867.00 6,233.00 4,020.00
   Change in Working Capital -12,352.00 -22,921.00 -17,699.00 -2,986.00 2,001.00
   Other Operating Activities 16,357.00 -10,928.00 6,664.00 -15,793.00 -3,628.00
Investing Cash Flow 35,547.00 95,915.00 -59,547.00 -383,589.00 -9,589.00
   Capital Expenditure 0 0 0 0 0
   Net Purchase/Sale of PPE -4,408.00 -7,277.00 -8,243.00 -11,112.00 -9,589.00
   Net Purchase/Sale of Investments Net 48,044.00 103,192.00 -51,304.00 0 0
   Net Purchase/Sale of Business 0 0 0 0 0
   Other Investing Activities -8,089.00 0.00 0.00 0 0.00
Financing Cash Flow -1,774.00 -768.00 0 30,007.00 185.00
   Net Issuance/Repayment of Debt 0 0 0 0 0
   Net Issuance/Repurchase of Equity 0 0 0 0 0
   Dividends Paid 0 0 0 0 0
   Other Financing Activities -1,774.00 -768.00 0 30,007.00 185.00
Net Change in Cash -34,126.00 22,366.00 -135,112.00 -391,516.00 -86,144.00
   Cash at Beginning of Period 125,332.00 97,251.00 228,805.00 658,537.00 706,959.00
   Cash at End of Period 87,622.00 125,332.00 97,251.00 228,805.00 658,537.00
Free Cash Flow -80,396.00 -80,058.00 -83,808.00 -61,790.00 -86,329.00