Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Price to Earnings -14.13 -15.10 -16.77
Price to Sales 10.51 13.36 62.67
Book Value Per Common Share 1.17 4.03 2.52 0.41 3.04
Price to Book 72.22 19.73 30.62 91.41 26.76
Price to Operating Cash Flow -31.57 -24.92 -26.91 -13.20 -38.81
Price to Free Cash Flow -31.51 -24.82 -26.75 -13.16 -38.79
Enterprise Value to EBITDA
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-03-31 2022-12-31 2022-03-31 2021-12-31 2021-03-31 2020-12-31
Price to Earnings -129.20 -107.62 -95.60 -54.94 -67.07 -55.42 -237.23
Price to Sales 35.53 34.40 46.93 34.58 41.30 50.43 28.38
Book Value Per Common Share 1.47 1.47 1.08 1.17 1.92 3.03 2.57 2.52 0.38 0.41 2.56 3.04
Price to Book 82.87 71.16 107.89 72.22 46.86 26.30 24.02 30.62 109.50 91.41 22.09 26.76
Price to Operating Cash Flow -131.41 -156.74 -232.22 -70.74 -461.33 -49.29 -78.15
Price to Free Cash Flow -130.39 -156.57 -231.09 -70.61 -455.54 -48.96 -78.06
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 42.53 440.80
EBITDA YoY
Net Profit YoY
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-03-31 2022-12-31 2022-03-31 2021-12-31 2021-03-31 2020-12-31
Earning YoY
Revenue YoY 13.96 23.53 2.27 13.37 39.68 -20.70
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 6.58 8.50 4.94 2.29 4.92
Quick Ratio 1.99 3.46 2.47
Current Ratio 2.11 3.63 2.54 3.75 7.85
Debt to Equity 8.97 2.08 2.03 4.62 0.64
Long-Term Debt to Equity 4.94 1.35 1.14 3.14 0.43
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-03-31 2022-12-31 2022-03-31 2021-12-31 2021-03-31 2020-12-31
Cash Per Common Share 6.50 6.13 6.16 6.50 6.80 6.99 5.66 4.62 2.18 2.29 4.38 4.92
Quick Ratio 1.45 1.47 1.90 1.99 2.30 3.01 2.89 2.47
Current Ratio 1.57 1.57 2.03 2.11 2.44 3.20 3.02 2.54 3.54 3.75 7.61 7.85
Debt to Equity 8.08 7.76 10.21 8.97 5.04 2.79 2.48 2.03 5.03 4.62 0.73 0.64
Long-Term Debt to Equity 3.19 3.07 5.63 4.94 2.93 1.79 1.58 1.14 3.36 3.14 0.51 0.43

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
ROA -50.52 -40.67 -56.45 -148.55 -55.28
ROE -503.76 -125.27 -170.81 -834.29 -90.43
Gross Margin 91.37 90.37 89.61
Operating Margin -72.74 -85.67
EBITDA Margin -70.68 -83.15
Net Profit Margin -74.47 -88.41 -373.99
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-03-31 2022-12-31 2022-03-31 2021-12-31 2021-03-31 2020-12-31
ROA -7.06 -7.50 -9.96 -13.18 -11.51 -12.53 -2.88 -44.75 -17.53
ROE -64.06 -65.65 -111.67 -131.39 -69.54 -47.46 -10.03 -269.64 -30.39
Gross Margin 93.03 91.04 91.94 91.15 91.95 91.60 92.01
Operating Margin -25.65 -29.89 -44.59 -61.14 -59.78 -91.14 -9.13
EBITDA Margin -24.31 -28.47 -42.83 -59.40 -57.81 -88.70 -7.04
Net Profit Margin -27.62 -31.97 -48.91 -63.08 -61.67 -91.14 -11.86

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 2023-03-31 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 568,498.00 588,236.00 331,476.09 87,785.06 186,134.32
   Current Assets 485,064.00 504,263.00 245,641.41 86,518.14 184,024.83
      Cash and Short-Term Investments 315,353.00 386,193.00 200,841.95 86,472.85 183,876.45
            Cash and Cash Equivalents 315,353.00 386,193.00 200,841.95 86,472.85 183,876.45
            Short-Term Investments 0 0 0 0 0
      Net Receivables 142,001.00 94,820.00 37,698.87 0 0
      Inventory 15,732.00 15,135.00 4,319.92 0 0
      Other Current Assets 11,978.00 8,115.00 2,780.66 45.29 148.37
   Non-Current Assets 83,434.00 83,973.00 85,834.69 1,266.92 2,109.50
      Property, Plant, Equipment Net 5,967.00 7,618.00 1,142.81 944.01 1,792.12
      Goodwill 12,042.00 12,042.00 10,310.00 0 0
      Intangible Assets 46,894.00 53,286.00 59,660.77 0 0
      Long-Term Investments 0 0 0 0 0
      Non-Current Deferred Assets 0 0 0 0 0
      Other Non-Current Assets 18,531.00 11,027.00 14,721.10 322.91 317.38
Liabilities 511,483.00 397,259.00 221,919.69 72,154.71 72,341.41
   Current Liabilities 230,104.00 138,854.00 96,560.80 23,065.18 23,437.86
      Payables and Expenses 190,338.00 110,723.00 65,149.82 17,199.56 16,374.28
            Account Payables 71,997.00 40,679.00 38,605.31 13,149.33 13,504.02
            Current Accrued Liabilities 117,381.00 70,044.00 26,544.51 4,050.24 2,870.26
      Short-Term Debt 3,256.00 1,267.00 424.67 620.67 1,220.59
      Other Current Liabilities 36,510.00 26,864.00 30,986.30 5,244.94 5,842.99
   Non-Current Liabilities 281,379.00 258,405.00 125,358.89 49,089.52 48,903.56
      Long-Term Debt 189,699.00 185,105.00 94,258.89 49,089.52 48,903.56
      Other Non-Current Liabilities 91,680.00 73,300.00 31,100.00 0.00 0.00
Equity 57,015.00 190,977.00 109,556.41 15,630.35 113,792.91
   Shareholders Equity 57,015.00 190,977.00 109,556.41 15,630.35 113,792.91
      Capital Stock 5.00 5.00 4.35 3.78 3.74
      Share Premium 1,179,797.00 1,026,543.00 705,884.80 424,825.66 392,585.27
      Retained Earnings -1,122,787.00 -835,571.00 -596,332.74 -409,199.09 -278,796.09
      Treasury Shares 0 0 0 0 0
      Accumulated Other Comprehensive Income 0 0 0 0 0
   Minority Interest 0 0 0 0 0
Debt 192,955.00 186,372.00 94,683.56 49,710.20 50,124.14
Common Shares Outstanding 48,667.59 47,351.36 43,498.62 37,816.79 37,374.09
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Revenues 385,693.00 270,600.00 50,037.11 0 0
Cost Of Revenue 33,303.00 26,065.00 5,197.60 0 0
Interest Expense 6,569.00 6,453.00 0.00 0.00 0.00
Non-Interest Expense 411,359.00 323,123.00 0 0 0
Gross Profit 352,390.00 244,535.00 44,839.51 0 0
Operating Expenses 604,828.00 427,442.00 224,638.57 124,706.93 99,141.33
   Selling, General and Administrative Expenses 411,359.00 323,123.00 159,253.66 66,646.21 28,896.75
   Research and Development Expenses 187,077.00 97,944.00 57,947.45 58,060.72 70,244.58
   Other Operating Expenses 0 0 7,437.46 0.00 0.00
Operating Income -252,438.00 -182,907.00 -179,799.05 -124,706.93 -99,141.33
EBT -287,131.00 -238,278.00 0 0 0
Income Tax 85.00 960.00 0.00 0.00 0.00
Net Income Including Non-Controlling Interests -287,216.00 -239,238.00 0 0 0
Net Income -287,216.00 -239,238.00 -187,133.65 -130,402.99 -102,900.60
EBIT -280,562.00 -231,825.00 0 0 0
Deprecation and Amortization 7,958.00 6,834.00 5,564.17 1,155.66 77.72
EBITDA -272,604.00 -224,991.00 0 0 0
EPS -0.01 -0.01 -0.00 0 0
Diluted EPS -0.01 -0.01 -0.00 0 0
Average Shares Outstanding Basic 47,914.25 45,425.21 40,655.94 0 0
Average Shares Outstanding Diluted 47,914.25 45,425.21 40,655.94 0 0
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Operating Cash Flow -128,410.00 -145,080.00 -116,510.80 -108,225.76 -78,456.57
   Operating Net Income -287,216.00 -239,238.00 -187,133.65 -130,402.99 -102,900.60
   Deprecation and Amortization 7,958.00 6,834.00 5,564.17 1,155.66 77.72
   Deferred Income Tax 0 0 0 0 0
   Share Based Compensation 85,218.00 62,620.00 37,726.16 20,801.38 14,756.21
   Change in Working Capital 33,900.00 -28,392.00 30,348.83 221.70 147.32
   Other Operating Activities 31,730.00 53,096.00 -3,016.31 -1.52 9,462.79
Investing Cash Flow -270.00 -582.00 -53,702.11 -307.55 -45.89
   Capital Expenditure 0 0 -702.11 -307.55 -45.89
   Net Purchase/Sale of PPE -270.00 -582.00 -702.11 -307.55 -45.89
   Net Purchase/Sale of Investments Net 0 0 0 0 0
   Net Purchase/Sale of Business 0 0 53,000.00 0 0
   Other Investing Activities 0.00 0.00 -105,297.89 307.55 45.89
Financing Cash Flow 57,840.00 331,013.00 284,582.01 11,129.71 42,412.75
   Net Issuance/Repayment of Debt -990.00 85,000.00 45,000.00 0 28,340.00
   Net Issuance/Repurchase of Equity 40,784.00 258,750.00 243,039.23 11,614.77 15,175.35
   Dividends Paid 0 0 0 0 0
   Other Financing Activities 18,046.00 -12,737.00 -3,457.22 -485.05 -1,102.61
Net Change in Cash -70,840.00 185,351.00 114,369.10 -97,403.60 -36,089.71
   Cash at Beginning of Period 386,193.00 200,842.00 86,472.85 0 0
   Cash at End of Period 315,353.00 386,193.00 200,841.95 0 0
Free Cash Flow -128,680.00 -145,662.00 -117,212.91 -108,533.31 -78,502.46
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-03-31 2022-12-31 2022-03-31 2021-12-31 2021-03-31 2020-12-31
Assets 669,250.00 639,785.00 596,671.00 568,498.00 561,458.00 545,728.00 389,179.00 331,476.09 88,560.26 87,785.06 166,903.84 186,134.32
   Current Assets 565,342.00 536,620.00 494,634.00 485,064.00 479,113.00 460,490.00 304,449.00 245,641.41 86,829.93 86,518.14 165,035.44 184,024.83
      Cash and Short-Term Investments 325,272.00 303,016.00 300,910.00 315,353.00 327,341.00 331,441.00 246,515.00 200,841.95 84,707.78 86,472.85 164,660.13 183,876.45
            Cash and Cash Equivalents 325,272.00 303,016.00 300,910.00 315,353.00 327,341.00 331,441.00 246,515.00 200,841.95 84,707.78 86,472.85 164,660.13 183,876.45
            Short-Term Investments 0 0 0 0 0 0 0 0 0 0 0 0
      Net Receivables 196,507.00 198,825.00 161,398.00 142,001.00 124,096.00 101,434.00 44,793.00 37,698.87 0 0 0 0
      Inventory 23,774.00 18,441.00 16,319.00 15,732.00 14,265.00 15,583.00 7,940.00 4,319.92 0 0 0 0
      Other Current Assets 19,789.00 16,338.00 16,007.00 11,978.00 13,411.00 12,032.00 5,201.00 2,780.66 2,122.14 45.29 375.31 148.37
   Non-Current Assets 103,908.00 103,165.00 102,037.00 83,434.00 82,345.00 85,238.00 84,730.00 85,834.69 1,730.34 1,266.92 1,868.40 2,109.50
      Property, Plant, Equipment Net 22,259.00 23,139.00 24,067.00 5,967.00 6,413.00 7,223.00 809.00 1,142.81 1,407.42 944.01 1,551.03 1,792.12
      Goodwill 12,042.00 12,042.00 12,042.00 12,042.00 12,042.00 12,042.00 10,310.00 10,310.00 0 0 0 0
      Intangible Assets 42,126.00 43,733.00 45,322.00 46,894.00 48,501.00 51,697.00 58,089.00 59,660.77 0 0 0 0
      Long-Term Investments 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
      Other Non-Current Assets 27,481.00 24,251.00 20,606.00 18,531.00 15,389.00 14,276.00 15,522.00 14,721.10 322.91 322.91 317.38 317.38
Liabilities 595,523.00 566,710.00 543,466.00 511,483.00 468,560.00 401,692.00 277,367.00 221,919.69 73,862.25 72,154.71 70,610.64 72,341.41
   Current Liabilities 360,290.00 342,099.00 243,914.00 230,104.00 196,187.00 144,048.00 100,652.00 96,560.80 24,549.58 23,065.18 21,682.78 23,437.86
      Payables and Expenses 193,698.00 209,796.00 181,427.00 190,338.00 165,782.00 103,130.00 66,196.00 65,149.82 14,608.15 17,199.56 15,787.26 16,374.28
            Account Payables 54,227.00 91,628.00 85,659.00 71,997.00 64,253.00 53,791.00 35,770.00 38,605.31 12,595.11 13,149.33 14,621.72 13,504.02
            Current Accrued Liabilities 139,471.00 118,168.00 95,768.00 117,381.00 101,036.00 49,339.00 30,426.00 26,544.51 2,013.04 4,050.24 1,165.55 2,870.26
      Short-Term Debt 70,736.00 70,337.00 454.00 3,256.00 2,907.00 1,153.00 108.00 424.67 967.25 620.67 1,196.54 1,220.59
      Other Current Liabilities 95,856.00 61,966.00 62,033.00 36,510.00 27,498.00 39,765.00 34,348.00 30,986.30 8,974.18 5,244.94 4,698.98 5,842.99
   Non-Current Liabilities 235,233.00 224,611.00 299,552.00 281,379.00 272,373.00 257,644.00 176,715.00 125,358.89 49,312.67 49,089.52 48,927.86 48,903.56
      Long-Term Debt 145,363.00 144,956.00 208,962.00 189,699.00 189,393.00 187,644.00 147,615.00 94,258.89 49,312.67 49,089.52 48,927.86 48,903.56
      Other Non-Current Liabilities 89,870.00 79,655.00 90,590.00 91,680.00 82,980.00 70,000.00 29,100.00 31,100.00 0.00 0.00 0.00 0.00
Equity 73,727.00 73,075.00 53,205.00 57,015.00 92,898.00 144,036.00 111,812.00 109,556.41 14,698.01 15,630.35 96,293.20 113,792.91
   Shareholders Equity 73,727.00 73,075.00 53,205.00 57,015.00 92,898.00 144,036.00 111,812.00 109,556.41 14,698.01 15,630.35 96,293.20 113,792.91
      Capital Stock 5.00 5.00 5.00 5.00 5.00 5.00 4.00 4.35 3.89 3.78 3.76 3.74
      Share Premium 1,351,124.00 1,303,243.00 1,235,400.00 1,179,797.00 1,140,768.00 1,047,959.00 719,359.00 705,884.80 463,525.52 424,825.66 404,345.51 392,585.27
      Retained Earnings -1,277,402.00 -1,230,173.00 -1,182,200.00 -1,122,787.00 -1,047,875.00 -903,928.00 -607,551.00 -596,332.74 -448,831.40 -409,199.09 -308,056.06 -278,796.09
      Treasury Shares 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
   Minority Interest 0 0 0 0 0 0 0 0 0 0 0 0
Debt 216,099.00 215,293.00 209,416.00 192,955.00 192,300.00 188,797.00 147,723.00 94,683.56 50,279.91 49,710.20 50,124.40 50,124.14
Common Shares Outstanding 50,307.83 49,815.30 49,216.76 48,667.59 48,436.11 47,464.57 43,548.47 43,498.62 38,883.44 37,816.79 37,563.88 37,374.09
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-03-31 2022-03-31 2021-03-31
Revenues 170,992.00 150,042.00 121,463.00 118,766.00 104,762.00 74,999.00 94,576.00 0 0
Cost Of Revenue 11,912.00 13,448.00 9,789.00 10,514.00 8,437.00 6,297.00 7,556.00 0 0
Interest Income 3,375.00 4,086.00 5,258.00 0 0 0 0 0 0
Interest Expense 3,375.00 4,086.00 5,258.00 2,210.00 1,978.00 0.00 0.00 0.00 0.00
Net Interest 3,375.00 4,086.00 5,258.00 0 0 0 0 0 0
Non-Interest Expense 0 0 0 113,271.00 95,564.00 0 0 0 0
Gross Profit 159,080.00 136,594.00 111,674.00 108,252.00 96,325.00 68,702.00 87,020.00 0 0
Operating Expenses 205,189.00 173,308.00 168,656.00 169,884.00 142,558.00 135,977.00 93,394.00 38,288.87 27,844.06
   Selling, General and Administrative Expenses 150,235.00 130,280.00 120,787.00 113,271.00 95,564.00 98,970.00 74,191.00 25,703.73 11,248.37
   Research and Development Expenses 40,162.00 88,912.00 79,142.00 55,006.00 45,388.00 36,830.00 17,793.00 12,585.14 16,595.69
   Other Operating Expenses 14,792.00 -45,884.00 -31,273.00 0 0 177.00 1,410.00 0.00 0.00
Operating Income -46,109.00 -36,714.00 -56,982.00 -61,632.00 -46,233.00 -67,275.00 -6,374.00 -38,288.87 -27,844.06
Net Non-Operating Income -1,120.00 -12,219.00 -2,431.00 0 0 -1,082.00 -2,264.00 0 0
EBT -47,229.00 -48,933.00 -59,413.00 -74,827.00 -64,602.00 -68,357.00 -8,638.00 0 0
Income Tax 0.00 960.00 0.00 85.00 0 0.00 2,580.00 0.00 0.00
Net Income Including Non-Controlling Interests 0 0 0 -74,912.00 -64,602.00 0 0 0 0
Net Income -47,229.00 -47,973.00 -59,413.00 -74,912.00 -64,602.00 -68,357.00 -11,218.00 -39,632.31 -29,259.97
EBIT -43,854.00 -44,847.00 -54,155.00 -72,617.00 -62,624.00 -68,357.00 -8,638.00 0 0
Deprecation and Amortization 2,291.00 2,126.00 2,133.00 2,073.00 2,061.00 1,831.00 1,976.00 311.70 271.09
EBITDA -41,563.00 -42,721.00 -52,022.00 -70,544.00 -60,563.00 -66,526.00 -6,662.00 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 50,021.85 49,442.00 48,871.16 48,541.90 48,140.52 47,393.56 43,523.63 0 0
Average Shares Outstanding Diluted 50,021.85 49,442.00 48,871.16 48,541.90 48,140.52 47,393.56 43,523.63 0 0
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-03-31 2022-03-31 2021-03-31
Operating Cash Flow 0 0 -43,375.00 -26,202.00 -18,631.00 -53,467.00 -5,821.00 -32,652.98 -27,215.49
   Operating Net Income -47,229.00 -47,973.00 -59,413.00 -74,912.00 -64,602.00 -68,357.00 -11,218.00 -39,632.31 -29,259.97
   Deprecation and Amortization 2,291.00 2,126.00 2,133.00 2,073.00 2,061.00 1,831.00 1,976.00 311.70 271.09
   Deferred Income Tax 0 0 0 0 0 0 0 0 0
   Share Based Compensation -23,103.00 -24,611.00 -23,308.00 21,986.00 21,660.00 20,190.00 12,943.00 7,598.33 3,731.10
   Change in Working Capital 0 0 -5,165.00 12,799.00 5,027.00 -2,023.00 -6,406.00 1,137.83 -1,731.03
   Other Operating Activities 0 0 42,378.00 11,852.00 17,223.00 -5,108.00 -3,116.00 -2,068.52 -226.68
Investing Cash Flow 0 0 -338.00 -30.00 -90.00 -98.00 -71.00 -213.74 -30.00
   Capital Expenditure 0.00 0.00 -338.00 0 0 -98.00 -71.00 -213.74 -30.00
   Net Purchase/Sale of PPE 0 0 -338.00 -30.00 -90.00 -98.00 -71.00 -213.74 -30.00
   Net Purchase/Sale of Investments Net 0 0 0 0 0 0 0 0 0
   Net Purchase/Sale of Business 0 0 0 0 0 0 0 0 0
   Other Investing Activities 0 0 338.00 0.00 0.00 98.00 71.00 213.74 30.00
Financing Cash Flow 0 0 29,270.00 14,244.00 30,405.00 -1,187.00 51,565.00 31,101.64 8,029.16
   Net Issuance/Repayment of Debt 0 0 -401.00 -330.00 -311.00 -163.00 55,000.00 0 0
   Net Issuance/Repurchase of Equity 0 0 36,685.00 16,419.00 13,101.00 2,501.00 387.00 31,190.24 8,029.16
   Dividends Paid 0 0 0 0 0 0 0 0 0
   Other Financing Activities 0 0 -7,014.00 -1,845.00 17,615.00 -3,525.00 -3,822.00 -88.59 0.00
Net Change in Cash 0 0 -14,443.00 -11,988.00 11,684.00 -54,752.00 45,673.00 -1,765.07 -19,216.32
   Cash at Beginning of Period 0 0 315,353.00 327,341.00 315,657.00 386,193.00 200,842.00 86,472.85 0
   Cash at End of Period 325,272.00 303,016.00 300,910.00 315,353.00 327,341.00 331,441.00 246,515.00 84,707.78 0
Free Cash Flow 0 0 -43,713.00 -26,232.00 -18,721.00 -53,565.00 -5,892.00 -32,866.72 -27,245.48